If the economy is as bad as some believe it is, why is the housing market on fire? (how much, dollar)

[Katnan]

Originally Posted by calgirlinnc

Dirt cheap interest rates and COVID.

People can afford more home, people can work remotely, people do not want to go though more shut downs in an apartment, people are getting out of blue cities like SF and NYC.

It’s happening in Canada as well, for the same reasons. The GTA (Greater Toronto Area) housing market is also on fire. Houses in the ‘burbs are selling in a day right now. My realtor friend thought Covid would kill house sales this year and she’s having her best year yet.

[Nell Plotts]

Low interest rates and the need to stay at home more space is desirable.

[sholomar]

Originally Posted by bradnsota

How does that explain the income low and middle income people have in order to buy these homes?

https://wolfstreet.com/2020/09/25/fh...ousing-market/

[Rumann Koch]

All I know is that my house here in South Florida has increased over 15% in just the last month!

Seems like a lot of Northeners want to escape the violent chaos of Democrat-led cities in the North for Law and Order in Republican-run Florida!

[WannaliveinGreenville]

Originally Posted by reubenray

Everyone wants to get a new home just in case the country goes to hell if Biden wins.

Haha! The LYING Democrats would have you believe everything is HORRIBLE because of Trump. The housing market is like 2008 all over again....and jobs are coming back. Shhhhhh...don't tell the Democrats!

[beb0p]

Originally Posted by bradnsota

How does that explain the income low and middle income people have in order to buy these homes?

Depends on their industry.

Industries like steel and hospitality had a lot of laid offs and the workers probably can't buy houses now.

But other industries that continue to employ people would not be affected.

.

[nmnita]

The economy considering what what we have been though this past 8 months is anything but bad. I think we should be happy to see it the way it is right now.

[remco67]

Those most effected by job loss are mostly the same class of people who are not people who are home buyers in the first place. Meanwhile people are finding out they can work just fine from home and so why stay in expensive cities where taxes continually go up and Mayors tolerate violent mobs in the streets. I have at least 2 family members who sold in New York and New Jersey and have moved to SC and Georgia, both who telecommute and got twice the house for half the price.

[tinytrump]

Originally Posted by Rumann Koch

All I know is that my house here in South Florida has increased over 15% in just the last month!

Seems like a lot of Northeners want to escape the violent chaos of Democrat-led cities in the North for Law and Order in Republican-run Florida!

Yea they can all go back. Can’t find a decent apt for a decent price for my 20 yr old grand. Ridiculous! They come here to Vote

[jwest09]

Originally Posted by reubenray

Everyone wants to get a new home just in case the country goes to hell if Biden wins.

Just too bad for them when prices drop like crazy, and they loose hundred of thousands of dollars on their new homes. Maybe they should wait.