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Psychics .... what is your opinion of the direction of the housing market in the 2nd half of 2021?
Would you buy now, even with high prices and extremely limited inventory, because inventory is likely to decrease, OR do you see increased inventory later in the year?
Please share what you are picking up on that influences your opinion. Is it psychic perception or based on what you've read in the mainstream media?
Last edited by CosmicWizard; 01-24-2021 at 07:59 AM..
Psychics .... what is your opinion of the direction of the housing market in the 2nd half of 2021?
Would you buy now, even with high prices and extremely limited inventory, because inventory is likely to decrease, OR do you see increased inventory later in the year?
Please share what you are picking up on that influences your opinion. Is it psychic perception or based on what you've read in the mainstream media?
If you find one that actually predicted all the stuff that went down in 2020 I would listen to them in 2021. From everything I have read no psychic got 2020 right which to me pretty much proves there are no legit psychics. Anyone can throw a bunch of vague predictions against the wall and a few will stick.
More people are going to have difficulty paying their mortgages as the unemployment numbers rise which means banks will have to foreclose.If folks are going out onto the street and start looting, then it should be nearer the end of the year if at all.
More people are 'locked up' together, which as we know from holiday periods, is not good for relationships. Most people only see each other at nights and weekends, so working from home is going to place extra strain on relationships. This means a rise in divorces and splitting of assets, selling houses, etc.
So, I would wait until at least the middle 6 months of this year before looking around for property- probably more likely middle-end. I dont think this pandemic will end any time soon, so we are looking near the end of this year before we get some idea how the world has changed(more control,etc), plus the new president is going to introduce some new financial packages to help people and they will take time(6 months-12months?) to start to work through the economy. The squeeze on banks and large companies will take a while to cut in as they use up their resources to keep trading.
More people are going to have difficulty paying their mortgages as the unemployment numbers rise which means banks will have to foreclose.If folks are going out onto the street and start looting, then it should be nearer the end of the year if at all.
More people are 'locked up' together, which as we know from holiday periods, is not good for relationships. Most people only see each other at nights and weekends, so working from home is going to place extra strain on relationships. This means a rise in divorces and splitting of assets, selling houses, etc.
So, I would wait until at least the middle 6 months of this year before looking around for property- probably more likely middle-end. I dont think this pandemic will end any time soon, so we are looking near the end of this year before we get some idea how the world has changed(more control,etc), plus the new president is going to introduce some new financial packages to help people and they will take time(6 months-12months?) to start to work through the economy. The squeeze on banks and large companies will take a while to cut in as they use up their resources to keep trading.
Actually, I have no idea.
I think you have the best idea and most realistic outlook on this. A situation this big will have lasting effects. There is just no other option. Some people may have pie in the sky outlooks that everything will be great this year. It wont be. The hole is too deep.
I was hoping the housing market would have taken a hit from Covid. I am looking to buy a house on the Oregon coast. The opposite happened, prices have gone through the roof for the last year. With all the cash the government has been throwing at people housing it up and anything to do with hobbies also gone crazy high in prices. I collect baseball cards and as an example I bought a vintage Ty Cobb for $1450 at the beginning of the Covid breakout. The prices went so crazy I sold it a few months later for $1950. I thought that was a great profit. Now that same card would cost over $3000 to buy with the crazy high markets.
I made out OK as a seller. Back in October, after closing costs, I made a 10% profit on a condo I owned for just 16 months.
That might look good on paper, but the reality is that even with the profit I made, I've been unable to replace it with an equal value. The limited crap on the market in the price range of my sale is utterly unappealing. I'd have been better off NOT selling the condo I had!
The prices won't go down, I think, so if you've got loads of spare cash, and are definitely not going to be put in a bad economic position by buying, then you can buy.
Expensive Housing is here to stay. Lumber prices already doubled in the last few years.
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