I was amazed by the responses I received from ChatGPT and Bard when I asked them about the current housing market. Their responses were far superior to those a typical search engine would provide, as they provided thoughtful answers rather than just numerous links. AI chatbots are great resources for enhancing one's personal and professional wisdom. Here are the issues we have been discussing:
1. 2008
vs. 2023
Author: The housing market, much like the stock market, has
experienced significant fluctuations in recent years, with rapid growth
followed by sudden cooling-off periods. From 2005 to 2007, the housing market
saw a remarkable upswing, only to suffer a collapse between 2008 and 2010. Institutional investors entered the market and purchased distressed properties at heavily discounted prices during that time. Similarly, between 2019 and
2022, prices again soared but cooled off due to the Fed's rate
increases, which shook up the mortgage market and made it difficult for
non-cash buyers to participate. Do you believe we may see a repeat of the
2008-2010 crisis in the coming months and years?
ChatGPT: It is difficult to predict with certainty whether we may see a repeat of the 2008-2010 crisis in the coming months and years. While there are some similarities between today's housing market and that period, such as rising prices followed by cooling off periods, there are also important differences...
* To fully explore the rest of the chapter, I recommend obtaining a copy of my book on Amazon. Here are the links:
Kindle version: https://www.amazon.com/dp/B0C7N9CW8J
Paperback version: https://www.amazon.com/dp/B0C7J4X64P
Hardcover version: https://www.amazon.com/dp/B0C7J7D6VH
PDF version (non-Amazon): https://payhip.com/b/7nTyK
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