/biz/ - Business & Finance

what are the main reasons the market is down 1% today?

I'm not going to buy until we get a further correction, but im curious to find the reason for the sudden change of direction

>>56203227
anon, i assure you not

I have a few couples I'm friends with and anytime I visit, their wives give me a cope speech about how their Condo was such a great bargain at $700,000+, despite being a 30 year old building in a crowded smelly expensive city and their payments including condo fees have nearly doubled in the past year. I just nod and pretend to agree, but I can see it on the husbands face they are typically not very confident in their purchase and don't particularly enjoy their tiny one bedroom condo.

I also read that to qualify for a house/condo in Canada, you need to be in the top 5% of salaries, which just seems absurd to me. I am a high income earner, I COULD get a condo, but when 19/20 people are PRICED OUT of the privilege of getting robbed blind - that raises some questions and reflags with regards to the supposed health of our economy.

honestly at this point, its not worth buying a house or condo in any major city. The prices are highway robbery. I refuse to believe that 1/20 people who are doctors/lawyers are willing to sign off unto such an awful investment, while the rest of people just rent. It has to correct and crash, I just cant fathom a timeline where this continues much longer.

I've been 50% long and 50% cash for so long

I'm basically net neutral, haven't made anything this year. Should I start committing more cash to positions or are we going to get rugpulled soon?