Posted on 05/21/2021 8:04:06 AM PDT by ChicagoConservative27
Home prices across the U.S. are soaring as supply remains low and demand for housing has skyrocketed, squeezing first time buyers.
The median existing-home price for all housing types in April was $341,600, up 19.1 percent from April 2020 when the median price was $286,800, the National Association of Realtors said. This is the highest price on record and beats last month’s record-breaking 17.2 percent annual gain. This marks 110 straight months of year-over-year gains.
(Excerpt) Read more at breitbart.com ...
Wait until the home prices crash. It’s going to happen. And probably sooner than later.
Then buy a foreclosed home or something?
We just put an offer on a home. I feel like we are paying too much.
We sold our home in California a year ago. I thought it couldn’t go up much further, but it did.
We would have been better off holding onto our California home while we rented in Arkansas.
My modest 3 bedroom 2 bath home was recently appraised at $740,000. We bought this house for $169,000 in 1991. It is stunning to see home prices nowadays.
A friend just bought 8 acres with woods and a creek in South Dakota for $60K. She’s planning on building one of those homes that looks like a fancy Pole Shed. A, ‘Barn-do’ as it were. ;) She’s a Machinist, so can find work anywhere - and already has job offers in SD. She’s living near us for the time being, and still has her Dad’s house and property to sell...hopefully to us, as rental property.
She sold her house in Milwaukeestan for 9% above asking price in about 15 minutes. That sale will more than cover the land and the house she wants to put on it.
Maybe not your style of home, but it’s an affordable option!
https://clearybuilding.com/project/?id=2015106535
I, myself, would need way more windows!
And if I have a vote, I’d move to TN. It was on my Short List of retirement spots (Marysville) before I got a better offer from Beau. ;)
The guy who built across the street from me paid about 15% more just 8 months later. Same builder. Similar design. Lumber alone is through the roof. Biden’s war against the middle class is savage.
On what do you base your expectation of a housing bust? True, they will have to raise interest rates, but there are probably a lot of young people just now at a home-buying age. I’m wondering how the market will balance out now that Biden has really inflated the currency.
We South Carolinians will welcome you. Especially a conservative from Chicago. A rare breed indeed!
I live in Aiken County, just across the Suwanee River from Augusta, GA. Great place to live. Three hours to the mountains, three hours to the beach and three hours to Atlanta.
I’m partial to AZ. Our gun laws are awesome with no permit or registration needed. I’d wait to buy though because houses are ridiculously overpriced currently.
The housing market is very complex and very local.
The bust, like the boom, will affect different areas in different ways.
I suggest that property tax rates be part of your decision process. They are for me, and will be a big factor in whatever state I choose to escape to someday.
My little dream is building one of those concrete dome homes. I figure that way I can move to a state that has tornadoes and breathe a bit easier!
Maybe we can all go out and kill Buffalo and make houses out of their hides.
We can have the women chew the leather to make it softer.
My house is way over priced at 224,000. Remodeled homes in my are are going for 279,000 for 900 sq feet. My house is 1,304 sq feet. I have done some remodeling over the years but it needs work.
“Biden’s war against the middle class is savage.”
That’s exactly what it is.
They want to punish us for voting for Trump and make us poor and dependent on the Government (them).
I just checked. My house is now worth 238,000!
I doubt that they are at all-time highs. And I suspect that the net losses in urban real estate equal or exceed the gains in suburban and rural real estate.
Fix what needs fixing now for an easy sale in the future! :)
A record high? This has never happened before!
/s
Retiring to the wilds of SD is a SUPER idea ... many choices for nearby medical services and great winter weather.
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