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In some markets they get like 20 offers for a house. You aren’t going to negotiate anything at that point

Then don't worry about the cost of ownership because you're going to make it up in equity.

How does buying for a high price mean you will make it up? If anything it should mean the opposite.

Probably alluding to high demand rather than high prices. More demand, more likely you're win on equity

Demand can be fleeting. See Austin, TX in the early pandemic years vs now

Too much reliance on the permanent number-go-up hypothesis in home prices