ok, I’ll bite. How are relators/builders the root cause of the problems...presumably higher interest rates being one of them?
Because they’re the ones building, marketing and selling these homes for far more than they’re worth. And the buyers have no choice but to bite.
And I forgot to add the tax assessors with their insane assessments in order to squeeze more property taxes from folks.
All one big happy Continuing Criminal Enterprise, if I say so myself.
I see homes popping up that wouldn’t be worth more than $150-175k, in subdivisions that are starting at the mid-$300s. These are places that don’t have a job market to support such places. But, if you want to live there, you gotta buck up the cash to do so.
I’m not a socialist or liberal troll, if you want to go down that road. I’ve framed, finished and appraised homes at various times in life.
Hell, my realtor tried to get me to buy my house for over $20k than what I offered. She wasn’t doing me any favors.
A listing agent is there to get what they can for their client. A buyers agent is there to be an advocate for their clients, are they not? Aren’t they supposed to get their clients the best deal possible? I later found out, with some helpful research from a co-worker, that in his opinion I should have paid even less for my house than I did. The house being a foreclosure that had been on the books for some time.
Yes...a house is worth what someone is willing to pay for it. Got it.
But this artificial inflation based on low rates for years, agents and builders knowing that they have people by the short hairs, and tax assessors ridiculously inflating assessments to get more tax money from folks because they know they’d have a tough time raising the mileage rates are what’s causing all of this.