Supposedly the problem now is that people who'd be selling don't want to give up their super low interest rates b/c they inevitably have to buy a new place and get stuck w/ the current rates.
The Fed really fucked us over in so many ways. I don't think we can ever sustain "high" interest rates long term again or at least not w/o decades of weening back to them. They're gonna have to drop the rates by 1% or more within the next few years, if only to "stimulate" the housing market. May not go back to the 2% range, though. But that's their best option right now, see-saw between lower and higher rates and every cycle ratchet the floor and ceiling slightly higher so eventually people see a 6% rate as normal again and the 2% and 3% rates age out of the market.
Of course it's the Fed, so fat chance they'll do the best option. More likely will just keep doing giant rate cuts and raises to inflate and pop bubbles b/c the chaos makes rich stock-holders more money.
SkittyOnWailord posted...
I saw this posted recently. Seems relevent.
https://gamefaqs.gamespot.com/a/forum/5/5e266937.jpg
Ok, for the house to increase over 4x in price in just 10 years is fucking insane, even in the hottest housing markets.
Must be the absolute most sought-after fast-growing area in the entire country (which couldn't have been high value before 2014 b/c it was only $185K back then). Like, even Sunbelt areas don't fit that bill (fast growing before then and didn't spike that much in a decade).
Something is missing or they're lying. Maybe the house was significantly renovated and such. Like the basement got finished, added a pool in the backyard, etc...