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Chief
Their entire goal is to create a permanent renters class
Chief
I think growth will start to plateau, inventory will rise, crazy competition will decrease.
Prices will come down but rates will go up. Cost of monthly mortgage will be higher net-net if I had to guess and predict the future. If you have cash not currently in stocks right now I’d look to buy as soon as possible. Real estate is one of the most stable markets compared to stocks. Bought my home 1.5 years ago for $1M with a 2.8% APR and it’s now up to $1.4M and rates are hovering around 5-5.5%
Correction should happen in specific markets. Mostly the gains should stick but it feels like we’ve peaked. I try to real a lot on the subject
Unlikely prices go down, except in very specific markets, but not even sure if that’s the case. Large structural trends are what’s driving the price increases (millennials aging, boomers retiring in place, little new supply over last decade).
Agree with rates going up. Quickly than stabilize. You have to be old like me to even comprehend a time when a mortgage rate was in the High Teens! Our first mortgage in 1985 was about 10.5% fixed, I believe.