[mewzilla]

It’s not just the Hamptons.

I live in Upstate NY.

And even owners trying to sell their far less expensive middle class homes are slashing prices.

Gee, could that be because buyers don’t wanna pay upwards of 4 to 10K annually for $150,000 existing homes on up.

[SaxxonWoods]

I sold my principal residence at a a near double in price. I moved into my second home and it is now my principal residence. The proceeds are in T-Bills now, waiting for the cycle to proceed. When the time is right I want land this time and I’m already watching my target area. This is the second time in 15 years I’ve done this, it works great since there is no tax liability.

[HonkyTonkMan]

Multiple contributing factors. I think many are squeezed by increase in taxes + insurance. Lowering prices is the only choice sellers have.

• Interest rate increases
• Property tax increases
• Luxury tax increases
• School district/county tax increases
• Insurance increases
• Property repair cost increases
• HOA + Assessment fee increases
• Commissions artificially inflated

[Shady]

Yes, I notice that Blackhock and the rest of the “Hedge Funds” aren’t lapping up the Upstate Houses, even they don’t want to get stuck with the insane property taxes here.