Posted on 05/03/2021 7:20:47 AM PDT by ChicagoConservative27
And lets not forget about the fact that the big hedge funds have been buying up a lot, almost of all, of the banks inventories. At some point, they won’t be able to hold onto them much longer and when all those homes hit the market, flooding it, it’ll be a disaster.
Realtors, pffft. Just another name for a snake.
They are some of the worst. An old coworker got his license, after he discovered that his realtor wasn’t exactly working on his behalf. He then started a little side hustle helping buyers out with their purchases. The people would come to him with everything, info from both the sales agent and listing agent, to see if all the numbers added up. Basically, he became a type of consultant to make sure the people weren’t getting ripped off. I wish I had know him and used him before I purchased my house.
My realtor, as time has gone by, was more interested in her commission than being my advocate.
It all depends where you live, and where you want to live.
For example, there is anecdotal evidence, that people in California are selling houses in their expensive California cities, and buying something similar in other states for half or a third of the sale price of the California house.
Imagine you own a $600,000 California home, free and clear. You could sell it, buy a similar home in a cheaper part of the country, and have hundreds of thousands left over.
The new buyers are internet commuting from their new homes and fleeing big blue and dangerous cities.
Where, eventually, their politics and ideology will destroy their new homes.
But don’t many folks getting a ‘buyers agent’ that is supposed to be your advocate and get you the best deal? ha ha ha ha ha ha....sh*tty joke, I know.
You’re right. My mom did it. Sold her house in NY and was gone.
My mom is probably one of the most Conservative individuals I have ever met. So, when she moves south, to a Conservative state, it’s a plus for that Conservative state.
If the folks from Cali, after selling their $600k home, move to a cheaper part of the country, what political ideology are they bringing with them. Because if they’re liberals, they’re bringing high taxes and all the BS with them. Boise, Idaho is a perfect example.
Did you have printed stimulus money in Canada too?
This is kind of like a perfect storm settup.
1) People poring out of cities into suburbia. Similar things happened in NY after 911.
2) People sensing bad inflation ahead and racing to buy before Jimmy Cater era interest rates and house prices go even higher.
3) Rich Chinese trying desperately to get money out of China and also get an edge up for themselves and family for visa approvals by owning US property.
Peruse later.
I totally agree. And I believe this has been the plan, for a long time. Hyper inflation will force a resolution of the debt bubbles which have merely been deferred since 2007.
It is an international trend, and the destruction of currencies is the only way forward, for nations like Greece and Spain who have been sunk for more than 10 years, and cannot either (openly) repudiate their debts or reform their systems.
The property market in Sydney, Australia, is just the same as what you describe here. Everything sold as soon as it hits the market, except for the high-rise units, which are a different sector.
I think it is the low interest rate of under 4% plus the low down payment such as 3.5% that are getting people buying.
what is a 600k house in California ? 1 bed 1 bath no garage?
Came home from work last year and had a business card and note on the windshield of my car to call the person who was a realtor. Called him and he was driving around looking for homes to possibly buy.
He noticed the grass was not cut and I said “It’s the middle of nowhere, and I keep it high until mid-August.” I think he thought I was some old coot who was just wanting to sell and move to Florida or whoever.
So I told him it’s not for sale. I also told him it’s not good form to walk around the back of the house as I saw him doing that from the security camera image that was texted to me. He apologized, but I think he was more ticked that he got caught doing so, than anything else.
Also got offers to buy some woods I own to the south of the house. But bought those to retain a nice spot for birds in the Spring and Summer.
Absolutely not the time to be buying. Would not touch it with a ten foot pole.
Just thought you’d enjoy this - the gal that does cleaning for me just sold her house on Sunday. They bought it for $420,000.00 seven years ago. It just sold for $1.2 million. Nuts, eh?
I am depressed.
How can I move out of Minnesota *now*?
Well, this area is an hour from Toronto - that’s why it’s going so high. Toronto is way out of reach for many people, so they are moving their homes and money here and making the commute.
I am assuming you weren’t moving to Ontario - the house prices are just one of many reasons why you’d be crazy to move here. The other two reasons are Doug Ford and Justin Trudeau.
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