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Seriously, do we expect housing price to drop significantly in the near future? Maybe it will be good time to get a good deal in the near future?
Due to coronavirus, quite some people try to avoid crowds and leave NYC for nearby suburban and rural areas. Some companies permanently move some job positions out of NYC or switch some positions to remote status. Now eviction and foreclosure are not allowed temporarily, but eventually we could see more foreclosures when the policy expired.
So what do we expect in the near future (as potential home buyer)? Some companies left, some restaurants are closed permanently, job opportunity decreases, some people cannot afford mortgage and we see more foreclosure, less population in NYC, housing price drops?
What do you think about housing price in the next 12 months? I think it will drop, but how much will it drop? Can it drop by 30% from 2019 peak?
Seriously, do we expect housing price to drop significantly in the near future? Maybe it will be good time to get a good deal in the near future?
Due to coronavirus, quite some people try to avoid crowds and leave NYC for nearby suburban and rural areas. Some companies permanently move some job positions out of NYC or switch some positions to remote status. Now eviction and foreclosure are not allowed temporarily, but eventually we could see more foreclosures when the policy expired.
So what do we expect in the near future (as potential home buyer)? Some companies left, some restaurants are closed permanently, job opportunity decreases, some people cannot afford mortgage and we see more foreclosure, less population in NYC, housing price drops?
What do you think about housing price in the next 12 months? I think it will drop, but how much will it drop? Can it drop by 30% from 2019 peak?
Thanks.
No one knows ..your guess is the same as anyone else’s ..no one has a clue.
Good to see you here again. I was trying to move the discussion off that thread and moved it to NYC forum.
No one knows what will be ...I am waiting myself as now that I am no longer working my one day a week , hartsdale in westchester is far more convenient for us as far as the kids and grand kids ....
I wouldn’t be opposed to buying a nice luxury condo there ...but not until things play out.
We know prices are likely not going up , but how far down they go is unknown
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