biden — slowing the people’s move to Florida. !!
If construction costs are prohibitive some can’t afford to escape their current states and woes.
I suppose it’s all very different from 2008, but I have this nagging feeling that there is some sort of economic bomb out there that is about to go off.
Single family homes in my over-55 neighborhood in the Austin area that had been selling in a few weeks have now been sitting on the market for a few months.
My guess is that would-be buyers may be having trouble selling their existing homes.
Everything acting just as it should.
Percentages really mean nothing.
House prices are so inflated over the last five years or so, that the ability to purchase (not inherit) a home is well beyond a huge number of citizens and is likely going to get even worse. It is nearly impossible to “save up for the down payment,” with the costs of how escalating, the increase in interest rates, general inflation and the near stagnation of wages.
You either own your home (or inherit your home) or you are, more than likely, won’t be able to buy a home, in the traditional way . . .
I hope the supply/demand numbers get into balance.
About a year ago my wife and I looked at two houses in nice, but not wealthy, suburbs north of Atlanta. One house had 23 offers over the first weekend. The other had 18 offers, and the owner kicked most of the offers back and was only cosidering cash offers. You had to provide a bank statement verifying you had the cash for your offer to even be considered.
Real estate agents were loving it.
I think another factor not mentioned (new construction) is the cost of lumber and every other item used in constructing a house was increased say 30-50k per new home....builders are not profiting as well as you think. I am in the trades and I know the numbers. It is starting to decrease but it will take a while,and existing homes follow new construction pricing to an extent. Still this is nothing compared to the interest rates under Carter...less than forty years and I only see it spoken of in comments on free republic?
At the worst of it in the Tampa Bay region last year many of us would get 4 to 5 calls a day from groups wanting to buy our home. (homes NOT on the market) It was really annoying.
Everything is declining under the democrat ruling we have now it won’t change until they are out of power.
They don’t govern they have an agenda and your not part of it.