A long-winded way of saying that most housing has become overpriced.
“but hesitate to list those homes because they’re worried about finding a property to buy if they do sell”
Because they might be able to afford the mortgage but not the property taxes.
“A few others may be trapped by “rate lock” “
Yet another reason Powell is wrong to raise rates
WELL, YEAH, ALL OF US OLDER FOLKS DON’T MOVE AROUND AS OFTEN..............
I am 63 years old. My wife and I have owned two homes in 38 years of marriage and are not likely to move any time soon.
The housing market is “hot” where I am - near Raleigh, NC.
Think it just depends on location.
Home values are up. Foreclosures are down. The housing market is in excellent shape.
Where is this moron getting his info from?
Wait for it...
Please note that the "record" stretches all the way back to the year 2000.
Without information on the percentage of the properties that are owner-occupied, conclusions regarding “mobility” are not very firm, since people move in and out of rental properties without a change of ownership.
huh? The housing market has been huge since Trump
Americans have come to the conclusion there's nothing 'better' over the hill.
California was once the 'land of opportunity'... now it's a South American hellhole with a small groups of 'elites' and large numbers of miserably poor peasants. Who would want to go there?
Americans use to wonder how the world's wealthy could go home to their mansions while stepping over starving children now understand... - it's the elitist 'California mentality'... The 'poor' make them feel wealthier...
We have been in our home for 41 years. We live in a good home and have excellent neighbors.
I’m approaching my 80th birthday at the sped of light, and my wife is not far behind me.
We have no desire to sell and move into a smaller place in a different neighborhood nor to move into so called senior housing.
So we opted for a reverse mortgage to keep our home in shape. Thank Goodness for prop 13.
A few years ago, we had a ramp put in to enter our home from our carport, put hand rails by the few stairs we have in our split level and converted our main bathroom to a walk in bath. Our friends in the same age group, appreciate what we have done to our home. Many are doing the same thing.
Our adult children and their families live within 35 to 45 minutes from us. Like us, they have a longtime core of good friends and have no desire to move from their homes.
We have a great church, a core of friends in that church, some going back 4+ decades.
Each week, we get several personalized letters from realtors wanting to list our home. They go into the blue recycle container before coming inside.
The word ‘crisis’ gets overused.
Stuff goes up, stuff goes flat, stuff goes down. It’s a crisis if stuff moves up or down a whole bunch. Otherwise, it is simply doing what it does, moving dynamically.
Stagnates? I saw subdivisions mapped out with underground utilities and paved streets 9 years ago. They just stopped. I think it was 2008. Now there are houses being built there. Same streets same underground utilities. That is exactly the opposite of stagnation.
bump
Mr. Roo Roo and I have been happily in the same home for 28 years. We will stay there until we die or get dragged into a nursing home LOL.
We’re in a nice neighborhood run by a Nazi HOA, but the neighborhood is desirable because of the Nazis enforcing the rules. Houses that go up for sale usually sell in less than a month.
We live on 5 acres in a large old house with history, 3 car garage, a large shop and a million dollar view. 16 vintage apple trees, 5 pear trees, 4 walnut trees, 2 quince trees, one plum tree, one cherry tree, many evergreen trees and I have landscaped the entire property. Last winter we replaced most for the sheetrock in this house with tongue and groove - knotty pine. Over the years, I have worked on every square foot of this house. I now own a LT35 Hydraulic Portable Sawmill and intend to fabricate many more items of wood for this old house.
This is our 4th house and there is no way I would sell it after 40 years of living here. We love to travel, but we always love returning home.
Our neighborhood is on fire. Full price offers and bidding wars going on. We are renovating right now getting ready to sell and head to the mountains. Gwinnett county is like third world dystopia.
I think any guage of the period only since 2000 IS NOT a “historic” guage at all, and over a much longer period a span of Americans’ home ownership of 8 years may not be a historic anomaly at all.
It also seems to me that when I was growing up most folks I knew owned and lived in their homes much longer than 8 years.