I am a mortgage lender. We are in a super hot market for the last 12 months and this is beyond stupid. There is no need to prop up the housing industry when it is building houses as fast as it can.
I’ve been trying to get my elderly mom to sell her rural 3 bedroom home with basement. It takes everything she has to maintain it and and its killing her just keeping it clean.
Two miles up the road someone is building $250,000 homes that are selling before the ground is broken.
It’s the only home that was ever hers alone and she has trouble letting go.
Every time I mention selling she trots out the “everything is old” argument.
When I battle through that she come up with the “where would I go” argument.
I just want her to sell so she can relax and enjoy the rest of her life.
Any suggestions?
This appraiser agrees. In most markets demand is high and supply is low. Biden’s solution is to add more demand, further exacerbating the imbalance, especially on the already fiercely competive lower end with tax credits and little or no cash down FHA loans.