I’m no economic prognosticator but just take note these are the same signs we had in Florida back in 2006-2007. My barber at the time had 3 homes at a time he was “flipping”. When the market gets like this everything is sofa king screwed. At a certain point you just sit on the sideline and wait for a correction.
Once interest rate creep up (they will) and the stimulus payments subside you’ll see it and it will be quick.
Not to keep it derailed, but i feel this is different. People are buying cash so the payments arent there and i dont think 2k in stimulus payments are whats making or breaking $600k purchases. I hope youre right but i also see the rates going up and houses prices being just as high. The mental strain of being home does not help one bit. And me arguing for good houses with my sister (the person im buying with) having her refuse them, only to admit her mistake once they sold.
But thank you for thoughts and encouraging words i really hope it gets better and all the nights, weekends, ot and time i put in pays off. Maybe this time next year im sitting in a nice room with some good maggies.
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