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re: Some 1.543 million homes are currently under construction (single- and multi-family units)
Posted on 2/18/22 at 9:16 am to Street Hawk
Posted on 2/18/22 at 9:16 am to Street Hawk
Looking all around metro ATL..I just don’t see this. Permitted maybe but not under construction.
0
Posted on 2/18/22 at 9:19 am to kisatchie53
quote:
Where the frick did all these people live before?
We have let in over 2 million Illegal Immigrants alone in the last calendar year.
Posted on 2/18/22 at 10:43 am to ronricks
Interest rates here have ticked up a bit in the last month. What I am seeing now are bidding wars to get in before they go up again. Crazy bidding. On resale homes, offers that are typically conventional with 20-25 % down payment are not even being looked at due to so many all cash offers ahead of it. Had an open house on my street 2 weeks ago. On a Sunday between 11-1:00. They had so many lookers that it extended to 3:00 just to get everyone through. Agents had until 5:00 that day to submit an offer. By 6:00, that house was gone. I talked to several groups walking down the sidewalk. It was an auction type environment. Goes against everything I was ever taught when purchasing a large money object. In the past I would always back off a day and let the moment settle in, and then make a sound financial decision. Not now. I am a little worried as I have been around long enough to see booms go bust. As always in retrospect, you will always look how people got caught up in the moment. Hope I am wrong about this time, but deep down I know it has to correct itself.
Posted on 2/18/22 at 10:52 am to StringedInstruments
quote:
Isn’t that a good thing? Should alleviate housing prices, right?
It's only good as long a demand keeps up. If this current inflationary period stalls demand, you may see a glut and eventual crash
Posted on 2/19/22 at 7:29 am to AllDayEveryDay
quote:
That’s what I don’t get, I keep seeing “cash offer” but I’m guessing it’s not someone buying a house with 300k they just had laying around.
They aren’t usually all cash offers, it typically just means no financing contingency (I.e. you can’t back out if you can get financing). Now if the offer is “cash” and close in less than 30 days it might actually be all cash. Which agreed, is absurd.
Posted on 2/19/22 at 7:41 am to HerkFlyer
Someone needs to be converting empty office space to condos.
Posted on 2/19/22 at 7:58 am to concrete_tiger
Also, what happens when the boomers start dying in waves? There is going to be a flood of houses on the market.
Posted on 2/19/22 at 8:05 am to goldennugget
quote:
Most real estate purchases these days are being made by investment firms and not families
Kinda depends on the location
Posted on 2/19/22 at 8:11 am to KCkid
I listed one that had 18 offers in a day recently. Most of my non-land listings are gone inside of two days. Usually multiple offers
I’ve been telling every client I have if it’s close on budget buy now or 3-4 years from now because rates are going to rise and then it will get crazy.
I’ve been telling every client I have if it’s close on budget buy now or 3-4 years from now because rates are going to rise and then it will get crazy.
This post was edited on 2/19/22 at 8:27 am
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