The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
And don’t feel like trading in their 3% mortgage for a 5-6% one.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
And don’t feel like trading in their 3% mortgage for a 5-6% one.
Yep. Hoping to HELOC in to our next one in a couple years, too. Anybody who sells out of their 3% rate is a fool.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.
Also, new home starts are already dropping so that harms supply further.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.
Also, new home starts are already dropping so that harms supply further.
All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).
Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.
They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.
Also, new home starts are already dropping so that harms supply further.
All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).
Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.
They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.
Yes it has cycled wildly here in Idaho before. We'll see how some of these transplants do with winter. It's funny to watch but hard to get anywhere.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.
Also, new home starts are already dropping so that harms supply further.
All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).
Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.
They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.
Yes it has cycled wildly here in Idaho before. We'll see how some of these transplants do with winter. It's funny to watch but hard to get anywhere.
Fuck Steve Kerr and anything north of Appleway on 95.
1,1 million? Maybe if I died 2 years after retirement.
Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
So live in south western Georgia and don’t travel. Sounds awesome.
For you maybe it would suck. For others, they'd be fine with it. C'est la vie
Yes..I realize a lot of people live in shitty houses in shitty places and spend time in the above ground pool from Walmart while listening to Molly Hatchet and working on their 1978 ford ranger in the front yard might be happy. I’m sure that person could retire on less than 1.1 million.
Have you been to my house? Switch out the Ranger with a Bronco and you have described my real life Shangri-la.
The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.
Also, new home starts are already dropping so that harms supply further.
All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).
Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.
They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.
I had a real estate friend mention that the Elon effect of forcing his employers back to work could also come in to play here. The rest of tech are watching.
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Also, new home starts are already dropping so that harms supply further.
Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.
They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.