The first bubble popping?
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Something has to give.
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Cooling maybe, but it's hard to see it ending anytime soon. The fed will keep rates low for a good while longer (at least into 2022), and with the somewhat permanent shift into remote work, and an abundance of savings, the demand for houses (which then triggers the selling of houses because of the increasing prices) will probably continue for another year or two before inflation/rates really cool the market. IMO!
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Friends of Karla and I put their house on the market Tuesday, took 12 offers on Wednesday, and accepted an offer at $75K over asking with no contingencies today.
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@xenon said in The first bubble popping?:
Inventory is super tight. The bubble could be popping, but it may also be a supply issue.
Selling a house may be pleasant - but if you need to buy one in the same region, that'll be unpleasant.
I’ve lived through several economic cycles. Twice you could barely give a house away. Now people will jump on anything…
Both scenarios were driven by unique conditions that are unsustainable in the long run. I have no idea when the housing market will cool but I’d bet it happens in 2021.
