Quote:
Originally Posted by LordBalfor
Home prices are rising again because for a very good reason - DEMAND.
The fact is, as long as the US population continues to grow there's going to be an increasing demand for housing of some kind. If folks aren't buying they are RENTING - and over the last couple of years (as people quit buying) more and more people began renting with the result that rental prices have risen considerably. Now, with interest rates continuing to be at record lows, smart investors have been buying up vacant homes and turning them into rentals - thus driving up the demand for those homes. The result is that there is now actually a SHORTAGE of homes on the market in many cities and thus home prices are rising again - in some case fairly dramatically (Phoenix for example is up over 20% from the low) and have been for up to a year now.
For someone who claims to be a fan of the "party of business" you sure don't seem to understand the most basic law of Supply and Demand.
Ken |
Everything you say i cannot argue with. Except all areas have not seen prices rising. Don't want to say Counties, but some Counties, have had such a direct impact by, all the Bank Owned PROPERTIES, and putting such a dent on regular listings, and Pre-foreclosures, and foreclosures, that have not sold.
I know quite a few Counties, that are still suffering, while others, are starting to come back.
There is a shortage of homes in some markets, wish it was this way in all areas. Supply and Demand is up in a lot of areas.
But most of what you say, i cannot argue with. Except there are still a lot of impacted areas, not yet seeing any progress.
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