Zimran holds forth on how one might arbitrage the existing real estate prices, and then opines,
Finally, I don’t buy the argument that population explains the housing bubble. The population of Massachusetts *shrunk* last year, but housing appreciat[ion] in Boston is the highest in the nation.
I think it’s partly due to a population shift, but need more data. Rather, whatever long-term price stability there will be is due to a population shift. The current pricing is somewhat inflated by low interest rates; I doubt those are sustainable.