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re: House(s) on the market
Posted on 4/26/21 at 4:51 pm to BottomlandBrew
Posted on 4/26/21 at 4:51 pm to BottomlandBrew
I live in Dallas which similar to Nashville in having a net gain on people moving in vs. moving out. Buying a house in an area that is having an influx of people is a generally a good thing from a price perspective. Population growth is a key driver in home prices. (Supply and Demand). The Government and COVID are causing inefficiencies in the market place. People aren't moving at the same levels or changing jobs at pre-covid levels. Supply of homes for sale is low!
Home price appreciation at the current levels across the nation are not sustainable unless people's wages increase. That would cause inflationary pressures.
Home price appreciation at 20% to 30% annually is nuts.
People are tapping into their home equity to take trips, large purchases, etc.
I've been in my home since about 2010 and not looking to move for at least 15 years. I'm glad I don't have to worry about finding a home at this time.
I've seen this movie before.
Home price appreciation at the current levels across the nation are not sustainable unless people's wages increase. That would cause inflationary pressures.
Home price appreciation at 20% to 30% annually is nuts.
People are tapping into their home equity to take trips, large purchases, etc.
I've been in my home since about 2010 and not looking to move for at least 15 years. I'm glad I don't have to worry about finding a home at this time.
I've seen this movie before.
1
Posted on 4/27/21 at 11:07 am to kaaj24
Bought a house south of 30a in Seagrove a few weeks ago. Had to pay 11k over asking, no contingencies other than the 5 day inspection period and all cash offer. We had financing in place already but did a lot of earnest money up front and financed the rest within 30 day period. Offered on 3-4 places before finally getting one that we wanted. The market along 30a is insane.
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