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Even though it was still sticker shock, glad we went under contract before the 1st of the year. The base price for our new build jumped $75k on 1 Jan!!
It's probably a little more complicated than it sounds, but there is a firm in Toronto who has bought up 30,000 single family homes (That's not a typo - 30,000) in the south and are renting them out.
That's where the homes went.
They raise the rent because and when they can. https://god.dailydot.com/toronto-lan...nnials-houses/
Amazing how many people think housing prices will just keep going up at 15% year over year. This is such a sign that the bubble will burst sooner rather than later. "It's nothing like 2008" it doesn't have to be. "there's such a supply shortage" there has been for a while and that doesn't mean demand can't dry up.
This is the same ignorance and head in the sand mentality we've seen before, right before bubbles burst.
There's 1 reason prices would continue up, short supply.
There's like 15 reasons why the bubble could pop.
Unless you can specify a model to predict that a bubble exists and that it will pop and when it will pop, and this model is robust so it works most all of the time, it is safe to say bubbles don't exist.
We're not looking to move but purchase our snowbird home in SWFL.
We have no idea if we should stay in this holding pattern (3 years from retirement so we have time) or pull the trigger and buy something.
Well, I ran into a real estate agent who said, "Now is a great time to buy." I then asked about selling, and she said "Now is a great time to sell." I then asked her, "Which is it? A great time to buy or a great time to sell?" and she replied "Both. It is always a great time to buy and always a great time to sell. Here's my card; I'd love to represent you on either."
With the current state of the nation and of the world, I don't think anyone can reliably predict what will happen to prices in 6 months, a year, or 5 years.
Well, I ran into a real estate agent who said, "Now is a great time to buy." I then asked about selling, and she said "Now is a great time to sell." I then asked her, "Which is it? A great time to buy or a great time to sell?" and she replied "Both. It is always a great time to buy and always a great time to sell. Here's my card; I'd love to represent you on either."
I know exactly what you mean. I have even had agents give me their card while I'm shopping in Walmart here in Florida. They just walk up to people and ask if your looking to sell or buy. I'd prefer they wouldn't do that. When I bought my house here, I was having a hard time getting consistent info. I had to deal with conflicting info more than I was comfortable with. Right now I seriously doubt many would think it's a buyers market
My husband and I just bought a brand new house. We have rented for 14 years. I'm done. I want my own washer and dryer, a garage and my own back yard.
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