The housing market

[xenon]

I bought a house a little while ago.

We moved in a few weeks ahead of lockdown.

I had assumed that my timing for sinking my life savings into something was off - but didn’t lose sleep over it because we love where we are and I couldn’t reasonably foresee this.

BUT - I just check today and though supply is way down, prices are slightly up - it’s a sellers market right now.

Da fuq?

What’s the local market around you looking like, if you know?

[jon-nyc]

Outside the city there’s upward price pressure. I personally know two households shopping for places in the hudson valley due to Covid.

[Horace]

There are no substantial blips up or down in the one year chart of Redfin's estimate of my home value.

[89th]

@xenon weird! Maybe this pandemic thing is still too early and “voluntary” that we don’t know how various markets will respond in the longer run.

We plan on buying in the suburbs of Minneapolis next Spring. I’m not too worried about the market since it’s really (supposed to be) a 25+ year purchase. Aka the “forever home”. Although I’d imagine after all of the trillions of cash the government is using....will we eventually see major inflation? Impact on mortgage rates?

[Mik]

Seller’smarket here, but we are not ready to sell.

[Larry]

Sounds like it's a good time to unload some houses...