Housing is in Trouble
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I must say it would be awesome serendipity if I sold near the top, waited a year, and bought near a bottom.
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I really don't need this.
We've got our first open house on Saturday - hoping we can get it sold, because we close on the new one in a month.
If we have to knock $20K off, it's not the end of the world, but I don't need the stress.
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I really don't need this.
We've got our first open house on Saturday - hoping we can get it sold, because we close on the new one in a month.
If we have to knock $20K off, it's not the end of the world, but I don't need the stress.
@Doctor-Phibes said in Housing is in Trouble:
I really don't need this.
We've got our first open house on Saturday - hoping we can get it sold, because we close on the new one in a month.
If we have to knock $20K off, it's not the end of the world, but I don't need the stress.
I knocked 5% off my ask in order to get it sold, when the ask was at the ZEstimate. For whatever those are worth. This was right after the interest rate hikes.
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Sure you'd have been better off six months ago Phibes but you're still better off now than you will be next year. Hopefully you'll pull the chute at 500ft like Horace.
@jon-nyc said in Housing is in Trouble:
Sure you'd have been better off six months ago Phibes but you're still better off now than you will be next year. Hopefully you'll pull the chute at 500ft like Horace.
To add to that, you’re also better off than pre-pandemic. Values are still elevated from the COVID buying spree. The worst will be next year.
I do think it’s not quite as severe as the thread indicates because the millennials and Gen Z are finally starting to move into a home ownership mindset. The interest rates will hurt, but hey, they just got an extra 10-20K in their pockets thanks to Uncle President Joe, and they already have shown they don’t really understand interest rates and will
sign contracts that they don’t understand…
