[New Englander]

Originally Posted by SteveM85

So basically the whole state, the whole kit and kaboodle
Is Glastonbury ever not hot?
CT is rock stable. Steddie Eddie

Look what's starting to happen in some of the big name "hot markets" around the country. Over-estimated new construction, many new apts half empty, and others still under construction now. The tides are turning. Tsek might be right. If you keep predicting rain, eventually it will rain.
I'm looking at a massive apt complex across the office here in Westchester that's partially tyvecked and another massive portion still framing. God only knows how many units this thing is going to have. Who the hell is going to move in?

Hey some of us are counting on a bust in places like Southern CA to buy in a lower price point so it's not all bad

Returning to CT, I'm not worried about FFC, demand for rentals is very high and even if there is a downturn, I'm not looking to sell any of my properties any time soon, so I'll ride it out. I sold my underperformers at the right time.

[SteveM85]

Originally Posted by masssachoicetts

yeah id agree. But where are we seeing apartments half empty? lol. Everything around me in NNJ/NYC and Boston are full to the brim.

Hotspot faves like Nashville, Austin, Phoenix. Lots of builds still under construstion with lower than expected vacancies. Homes and condos pouring in to the market.
The Northeast and SoCal are always steady for the most part.

[Stylo]

Originally Posted by tsek

Here is some info that you all may find interesting:

The Hartford metro is the strongest market in the US. As mentioned before, inventory in Hartford is tighter anywhere else in the country. In most of the country, inventory is tight, but there is an even tighter supply of buyers, hence prices dropping. Hartford however remains strong and I think that's why you see confidence in the CT market here in this thread. It makes sense.

https://www.nytimes.com/2022/12/30/r...est-rates.html

The Redfin data center allows you to evaluate what's happening in the market in granular way. For example, you can choose a major metro area and see how closing prices compare with prior years.

https://www.redfin.com/news/data-center/

For example, if you look at median sale price, nationally, 2022 ended at the same level as 2021, meaning the big run up in prices in the first half the year throughout the country was erased in the second half.

Believe it or not, in the Bridgeport, CT metro (FFC), median sales price at the end of 2022 was 3% below median sales price at the end of 2021. Notably, July 2022 sales prices were 8% higher than July 2021 sales prices. So a significant loss has been taken in the second half of the year.

In the Hartford, CT metro, median sales price at the end of 2022 was 6% higher than at the end of 2021. If you look at the graph, there has been no relief for buyers in that area.

This explains a lot of that:

https://www.ctinsider.com/realestate...y-17349749.php

[CTartist]

Once again the Hartford area is one of the "Best bang for your buck".

Housing Market: 10 US Cities Offering the Most Bang for Your Buck in 2023
https://www.msn.com/en-us/money/real...9a0f48#image=1

[Tiredofnyclife]

Originally Posted by CTartist

Once again the Hartford area is one of the "Best bang for your buck".

Housing Market: 10 US Cities Offering the Most Bang for Your Buck in 2023
https://www.msn.com/en-us/money/real...9a0f48#image=1

Maybe if the "bang" refers to gun shots in downtown Hartford.

https://247wallst.com/city/hartford-...n-the-country/

[Stylo]

Originally Posted by Tiredofnyclife

Maybe if the "bang" refers to gun shots in downtown Hartford.

https://247wallst.com/city/hartford-...n-the-country/

Hartford AREA.

[CTartist]

Originally Posted by Tiredofnyclife

Maybe if the "bang" refers to gun shots in downtown Hartford.

https://247wallst.com/city/hartford-...n-the-country/

It's the greater Hartford area but I understand what you mean. My town borders Bridgeport where the crime is about the same.

[SteveM85]

Originally Posted by CTartist

Once again the Hartford area is one of the "Best bang for your buck".

Housing Market: 10 US Cities Offering the Most Bang for Your Buck in 2023
https://www.msn.com/en-us/money/real...9a0f48#image=1

That bang you here is the sound of a sack of cash hitting the floor the minute a buyer walks in to their new Hartford area home for the first time. All the cash they saved when moving to CT compared to pricier locales around much of the nation now.

[Tiredofnyclife]

Some people think we’ll simply gravitate back to 2019 asset price levels, as though we had a sustainable economic base back then, but the bubble began in 2012 or earlier when the Fed began suppressing interest rates and implementing QE. Unless the Fed is permanently in the business of suppressing rates, asset prices will face a LONG bottoming process.

[Stylo]

Originally Posted by Tiredofnyclife

Some people think we’ll simply gravitate back to 2019 asset price levels, as though we had a sustainable economic base back then, but the bubble began in 2012 or earlier when the Fed began suppressing interest rates and implementing QE. Unless the Fed is permanently in the business of suppressing rates, asset prices will face a LONG bottoming process.

Prices don't just regress 11 years. Healthy inflation is ~2% per year.