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Many of the relocators, especially from California, will be looking to relocate again when they find out NC isn't the be-all, end-all that they thought it was.
So where do you suggest we go? We've been in North Carolina 17 years. We pay our daughter's rent and utilities due to her being on disability, but they increase the rent every year and I was told it may go up $150 to $200 in September. This is nuts. She can't do stairs and our house has upstairs bedrooms, not to mention she can be difficult to live with. We thought of Brunswick county but my husband is leery of hurricanes. Renting can stressful since besides rent increases people are constantly slamming doors and stomping feet. Not a quiet and friendly atmosphere. At least we luckily have a roof over our heads.
Allmypets-- Is your daughter eligible for housing subsidy because of disability? Check with the local Social Services Department.
She gets the run around from them. The person in charge of her file keeps getting changed. I don't know if it's due to not keeping help or what. There's also a 10 year backlog for housing in Wake county.
With interest rates doubling in a few short months, the housing market is slowing down. Right now it’s a low inventory problem, but eventually that will change, and when it does, prices will come down. I think people who bought in this overheated market will have a hard time selling at a profit when the time comes.
Last edited by organic_donna; 06-21-2022 at 03:48 PM..
With interest rates doubling in a few short months, the housing market is slowing down. Right now it’s a low inventory problem, but eventually that will change, and when it does, prices will come down. I think people who bought in this overheated market will have a hard time selling at a profit when the time comes.
No doubt the housing market is overheated. With that said, typically housing prices do not drop as much in WNC during a downturn as some other places.
Part of the issue contributing to market price is lack of supply. Depending on which source you read, we are short between 2.5 and 5.5+ million housing units in the US. Those are not all single family homes and includes condos, townhomes, duplexes etc - any purchasable housing unit. Until there's a remedy for that, we aren't likely to see significant price decreases anywhere in the country, not just here in WNC. When it comes to available housing or lack thereof, we are subject to the same supply/demand forces as pretty much anywhere else in the country. IOW, we are not that special.
I know this is quite the generalization, but house prices don't usually fall much, they simply level off until the next big demand crisis drives them up again.
I know this is quite the generalization, but house prices don't usually fall much, they simply level off until the next big demand crisis drives them up again.
They might not fall, but once there is more inventory, the bidding wars will end, and people will not pay the asking price anymore. It will be a more balanced market again.
They might not fall, but once there is more inventory, the bidding wars will end, and people will not pay the asking price anymore. It will be a more balanced market again.
The heavy demand for housing in WNC will keep housing prices relatively high..
The heavy demand for housing in WNC will keep housing prices relatively high..
In the 2008-12 recession, there were two Western North Carolinas... real estate prices in the greater Asheville area did not drop as much and then bounced back much quicker & higher than the High Country (Boone/Banner Elk/Blowing Rock). It's not accurate to treat all of WNC as one entity. It remains to be seen what happens next time.
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