via Steve Saretsky
"When the facts change, I change my mind. I was bearish in March & April, but after seeing how policy makers reacted through massive fiscal spending and unlimited QE money printing, it became obvious the crash that everyone had anticipated would fail to materialize. I think we have a strong probability of a continued real estate bull market in 2021. The wealth gap will continue to widen and I think it will prompt policy makers to ramp up taxation of real estate, particularly aimed at investors and speculators. This will put a lid on how high valuations can get."