I wonder is she can hoist a 10 foot long piece of fire-rated rock.
No dust or mud on her. She must have just started work. "Hey, boss! It looks plumb to me."
Posted on 02/24/2021 11:30:12 AM PST by qaz123
Sales of new homes soared in January to a blistering seasonally adjusted annualized rate of 923,000, the Commerce Department said Wednesday.
That puts sales 4.3 percent above the revised December rate of 885,000 and 19.3 percent above the January 2020 estimate.
(Excerpt) Read more at breitbart.com ...
1. Interest rates are still low because the impacts of the economic policies of the Harris admin haven't even been put out there, other than an increase in gas prices.
2. The Federal Reserve, even when the tax hikes and regulations come back, will keep the rates artificially low for as long as they can to help the Harris administration.
3. Folks are moving out of the cities as fast as they can. I mean....Liberals...are moving out of the cities they DESTROYED, are unwilling to live with the consequences of their votes and will now move someplace else to destroy. In NYC, which is becoming emptier and emptier by the day, folks are buying houses on Long Island, suburbs north of the city, north Jersey and western Connecticut, sight unseen. Showing up with nothing more than their clothes, leaving their furniture, etc behind as they make their escape. Toss in Florida and other coastal areas and they're destroying those places as well. My mom lives south of Myrtle Beach, they can't build fast enough. Nothing but northeastern Democrats and the locals cannot stand them and are VERY VERY VOCAL about it.
Wonder who's filling all those empty apartments in NYC. Wonder if it's going to be some of the 3500 that are pouring over the border ever day.
Re #3 - which states saw the largest increase in new homes built and sold?
I agree, it’s about as cheap as it has ever been in my lifetime to finance a mortgage. We’ll see how it plays out. Economic cycles take a long time to fully play out. Housing market in particular take years unless there is artificial stimulus to push it one way or the other e.g. the crash in 2008/2009, and the high interest rates of the late 1970’s early 1980s.
People buying before the interest rates go to the moon......................
“Folks are moving out of the cities as fast as they can. I mean....Liberals...are moving out of the cities they DESTROYED, are unwilling to live with the consequences of their votes and will now move someplace else to destroy.”
Such a good point. I cringe a little whenever I see someone here on FR gloating about some Bay Area company moving to Austin or Dallas or Phoenix. A bunch of liberal-leaning voters flooding into red (and formerly red) states is nothing to celebrate. When this is pointed out, the response is occasionally along the lines of “No, no. These aren’t the crazy leftists. These are the people escaping crazy leftism.” Wrong. They may not be the craziest of the crazy, but they’re coming to your state and the lion’s share will keep voting for Dems.
That’s why I am waiting that little while. Some people could end up flat on their asses when something like that happens.
Housing market shows no signs of slowing down [Coeur d'Alene, ID], Coeur d'Alene Press, February 22, 2021.
The average sale price of a home in Kootenai County was $415,000 in January, a 33% increase from January 2020, according to the Association of Realtors. Also in January, 184 homes were sold in Kootenai County, up 3.4% from the same month last year.
RedFin, a Seattle-based real estate brokerage, reported that the median sales prices of a home in Coeur d'Alene rose to $509,000, a 50% increase from a year ago.
I cannot point to a single time when large moves from a leftist area to a conservative area resulted in anything but a leftward shift. Not one single time.
They bring their sick ideas with them.
I wonder is she can hoist a 10 foot long piece of fire-rated rock.
No dust or mud on her. She must have just started work. "Hey, boss! It looks plumb to me."
I recently updated and sold a rental property (retiring.)
I had 5 showings scheduled in the first 10 minutes. By the end of the second day, I had 12 offers.
It’s an odd market. Demand is WAY outstripping supply, but price is moving up artificially slow due to mortgage financing rules. My buyers will generate about $800/month profit from renting it out.
Low interest rates and also with so many more people working from home now, and fewer “amentities” in cities, and no need to commute, people want houses with yards instead of city apartments and condos.
A lot of these people are moving to Maine. They’re coming from New York, Massachusetts....even from California. The real estate agents are run ragged.
Meanwhile, my cousin’s son-in-law works in the financial district in lower Manhattan. Been working remotely for a year. The couple have an infant, and they bought a home on Long Island and abandoned their $3,000 a month apartment in Manhattan. They’re still paying the rent until their lease runs out....they tried to sub-let the place, but no takers.
I’m pretty sure they are Trump supporters.
I left Seattle for rural KY ten years ago. Now I WFH and it saves me a three hour daily drive to/from Louisville and $750 a month. My Daughter and her Husband moved From Seattle to a nice rural suburb of Louisville three years ago and he’s been WFH for a Seattle company ever since.
And my other Son-in-law owns a company with ~40 developers. His lease on his Seattle Brick and Mortar office expired in December. His entire crew is WFH and he’s hired his last expensive Seattle employee. From here on out its equally qualified - and cheaper - developers from teir 2 and 3 markets. There is not even any reason to live in suburbs any more. Rural works just as well thanks to Amazon, et al, and culture brought in via video and the internet. Cities as we know them are done.
This is quite literally WWIII. The impact is as significant and dramatic - and sudden. Sure, fewer people died, but it’s no longer necessary. We are in a totalitarian regime, but they don’t “disappear” you to a Gulag this time. It’s easier and cheaper just to “cancel” you.
If you want your freedom, you darned well better exercise it. Use it or lose it, like a lot of people did on January 6th.
Or will our freedoms go down with a whimper?
The time to buy real estate is when interest rates are high. The reason is simple. People don’t buy a price. They buy a payment. When you buy when interest rates are high, it depresses values. So you buy, and when rates fall, you can refinance AND your home becomes worth more.
When you buy when rates are low, there will never be a refinance window for you, and prices will be hard pressed to go up more, when interest rates go up more.
“stimulus” by all the different means produces asset ubbles and the fed has no control over where the bubbles will rise to a break point, but they will. Then with interest rates already so slow, the fed’s tool box shrinks as well, other than guaranteeing an inflation repeat by buying up inflated assets it must eventually sale - what it did after the 2008 crisis, which produced the later release of those assets which contributed to the need to keep interest rates low, which contributed to current inflation - in a vicious seemingly uncorrectable circle.
A buddy lives in Idaho and is pretty active on the local political scene. He speaks about this quite often. How the locals are being forced, in some cases, and more than happy to sell, in others.
But the one thing that amazes me is......Who was the genius that tied home values to property taxes? Whoever he/she is, is a genius to some and the devil to others. Take Coure d’Alene, for example. Has the crime rate gone up with those increased home prices? What civil service has seen an increase due to home prices? If there are more kids in the local schools and they’re doing something to accommodate that, I can understand that. But from the Idahoans I know, most of the folks that are moving are empty-nester types from the West Coast. Bringing all their liberal utopian ideas with them and damned near EVERY SINGLE ONE OF THEM being in complete contradiction to what Idaho is all about.
But again, if there’s no increase in crime or the number of calls to the fire department and EMS and you’re not bumping the salaries up significantly, why the increase in property taxes? I mean, I know the answer, but it doesn’t appear that anyone ever seems to challenge this math.
Building materials (lumber esp.) and permitting costs are quite high now too, not expected to go down so waiting only makes things more expensive.
My personal opinion is that the vast majority of “new home sales” right now is due to migration from nanny state areas to areas with far more freedom.
Just my .02
That is what has driven our real estate market through the roof. Low inventory and high demand.
They cannot build them fast enough it SW Florida..
Toss into that the FR folks gloating......
Lets digest these moves:
1. They’re usually done after the local municipality and state give away the farm(literally, in some cases) as an incentive for the move.
2. These corporations demand and GET significant tax breaks/incentives for moving.
3. Then the local and state government officials who are going to make money off the deal, in some underhanded way, will tell their constituents all about the jobs that are coming. I think that snake in the grass, Rick Perry is the gold standard for that scam. Only, the very large majority of those jobs DO NOT go to the locals. Those companies bring all their liberal employees with them
Think about it. Bezos wanted and got, cities all over the eastern half of the US willing to give everything away so he’d move his eastern HQ there. In Georgia, one small city was going to be renamed, Amazon. He was going to build a $5,000,000,000 campus with an average salary of $150k a year, if I’m not mistaken. Lots of jobs for everyone. NOPE. Lots of jobs for liberal tech folks, then they’ll be fired for the tsunami of H1B-visa holders, who will get paid in dirt, while the company exec’s make millions. There’s your $150k a year.
So, the liberal mecca of Nashville got the nod and now that city is a liberal, hipster disaster. Same goes for Chattanooga. Always find it interesting that these liberal companies love going someplace cheaper, safer, with better quality of life...wouldn’t you know it, those places tend to be a little Conservative. Imagine that. And then they set about destroying it, once school board member or city council person, at a time.
Interesting article.... https://www.wonkette.com/federalist-guy-did-not-move-to-tennessee-to-live-with-a-bunch-of-liberal-colonizers
migration from nanny state areas to areas with far more freedom.
Or, is it migration from nanny state areas by liberals who are then going to change everything in the place with more freedom?
Northern liberals are moving to the Atlanta area by the bus load and are chipping away at everything to love about the freedom loving attributes to the state. This coming from a damned Yankee who moved down here over 25 years ago and has completely adopted and adapted to what was a place with a lot of freedom.
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