Yep. Just went through 8 multiple bid options until I finally bought a house recently in NJ. High demand and no inventory - there is nowhere to build but up.
Those houses are reserved for all the illegals Joe is bringing in.
Millions of deserving “migrants” need housing, and legacy White Supremacists must start sharing with them.
https://www.youtube.com/watch?v=mq__Z-Z_Ofs
I have lived in numerous converted lofts (in NYC and Atlanta) over the years and recommend that kind of living highly.
Depending on the building and location, the conversions can be quick and moderately inexpensive.
5% is close to overall inflation rate.
Who wants to sell and trade 3% mortgage for a 6% mortgage?
“””Low housing inventory will squeeze prices higher,”””
I have a different view. In the post-Covid era we are experiencing excess deaths. Those houses will become vacant and sold. The illegals do not have any money to purchase these houses.
So, if we combine the effect of high mortgage rates and excess deaths, I foresee a drop in housing prices.
Good for me. My wife and I plan on building a house on the farm she inherited in rural Tennessee and selling our current home. Ad they are building apartments in the area like nobody’s business. Rent has gone crazy in this area.
Who wants to sell and trade 3% mortgage for a 6% mortgage?
There’s a whole bunch of people sitting on a 3% mortgage that aren’t going anywhere at current prices and rates.
I know... Bring in million of illegal immigrants to help.......
I have read over the years that banks keep many foreclosed homes off the market to keep home prices up as they would lose money if the home prices fell.