Posted on 02/23/2021 7:32:41 AM PST by SeekAndFind
How many speculators from around the world are buying properties to flip or rent?
Soon it will be time to sell!
We have a generation of Biden voters who have no concept what inflation is, how it works, or why.
It’s going to be delicious hearing their cries as they learn.
Home prices in upstate NY keep rising due to down staters bailing on DeBlasio and the city.
People buy homes based on what they can afford in their mortgage payments, not the actual price. When interest rates are low, people can afford to pay more for a home. It's really that simple.
That's why the Fed uses rental rates as a better indicator of housing costs.
RE: That’s why the Fed uses rental rates as a better indicator of housing costs.
I don’t think rents are going down. Property taxes are going up based on property valuation. If property taxes go up, so do rent.
Home sales right now are a sellers market. People are fleeing the city. How do I know?
Recent client contact talking about getting out of a certain area and living in a home where she feels like she doesn’t need the door to automatically lock behind her. They fled a gentrified area for a suburb.
I’m in the process of ‘cashing-in’ on this bubble by getting rid of my house and moving into an apartment (for the short-term). After that, it’s so-long America. The way I see it, if I’m going to be forced to live under a Socialist government, I’d like to live under one that doesn’t look at me was someone who needs to be put in a re-education camp.
Inflation went through the roof with trump with food for sure. Not sure anybody would dispute this. So housing has gone up to. I know we’re having bidding wars in my neighborhood for the last year.
The problem is commercial real estate.
For real? That is really a momentous decision.
I’m thinking same. Just hard to do it and leave family
The average family is no longer able to buy a house.
Or rent in many places.
The “middle class” is in trouble.
“How many speculators from around the world are buying properties to flip or rent?”
In my area of Montana our airport is back to 70% and GA is up 300%.
Folks are buying an additional house here to stay away from all of the craziness.
Come visit, I show ya ‘round the place...
RE: The problem is commercial real estate.
Rental prices are going down for BOTH Commercial and Residential real estate in New York City.
People are beginning to realize that you don’t need to rent expensive office space when most of your employees can work remotely.
Manhattan is a virtual desert.
That’s right; these food prices never fell after the shortages were over.
I believe the election was outright stolen in a few key cities, but in the end, when people had to address the question “Are you better off than four years ago?”, I don’t know how many could say “Yes”. The ChiCom virus played a large part, as did the failure of Trump to implement his agenda (due to obstruction from both parties); we still had illegals everywhere, a McJob economy (with some exceptions in some areas), and no wall built.
Exactly right, Old Pro. Home prices are soaring in conservative and rural areas. Out in my neck of the woods, a sparsely populated desert area, homesteaders are popping up everywhere and existing homes are skyrocketing in value. And inflation is very real at the grocery store too. Prices on things I buy seem to go up every week without fail. Gas has begun heading up too.
There are plenty of stories about landlords in big cities that are begging tenants to return. If you are a tenant and have a good credit history, you can get some major rent concessions in today's market.
Stopping ALL immigration would be the BEST thing that ever happened to the middle class. The second best thing would be really high protective tariffs.
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