It will if investors are buying them. I hear the cash offer stories frequyandy yet I no one I know has a half mil in cash.
This is clearly by design. Just like Covid
It will be another power grab or a return to outright feudalism. Or both.
They meant it when they said you will own nothing.
Feels like feudalism. When folks wake up, it will be too late.
These homes are being snapped up by investors.
In my area of the world there is a bunch of homes for sale and prices are still rising.
Planned.
In my neighborhood they are selling homes as fast as they can build them. Starter homes that were $300K three years ago are now $500K.
They are being bought by people move here (NM) from out of state. Real estate is still cheap here compared to the west coast, Florida and New York.
If your company relocates you, which often seems to be the case, and you have to sell your California home for $1.2 million, like my buddy did (2000 SF, 3 BR, 2 BT, 1/4 acre lot) and you had lived in it for 20 years and had bought it relatively cheap back then, buying a $500K 2500 SF home is a bargain. You pay cash, have no mortgage, and only pay the property tax and insurance which aren’t that bad here in New Mexico.