Subj : Re: Housing Market
To   : Nightfox
From : Gryphon
Date : Sat Apr 19 2025 06:07 am

On 18 Apr 2025 at 10:03a, Nightfox pondered and said...
 
 Ni>   Re: Re: New to this
 Ni>   By: boraxman to Gamgee on Fri Apr 18 2025 05:02 pm
 Ni> 
 Ni>  bo> In Australia house prices have been pretty much going up steeply, alm
 Ni>  bo> continuously for 20 years.  Even on a managers salary, I could not bu
 Ni>  bo> house I grew up in, and neither of my parents finished school.
 Ni> 
 Ni> House prices have been going up in the US as well, and I feel like house
 Ni> prices have especially skyrocketed in the last 5 years or so.  It
 Ni> definitely feels like a seller's market. I feel like with the prices the
 Ni> way they are, I don't know how so many people can afford them, and I
 Ni> wonder if the market is going to burst and prices might have to come
 Ni> down.

In central Texas, there is a large inventory of available houses, but nobody is buying. They aren't buying because the prices are too high and the mortgage rates are going up. I got my mortgage at 3.25%. I'm hearing of 7% rates going forward. Rates like that will keep the buyers away. The only buyers will be the big corps that can pay cash or get really really good rates. Then they will turn around and rent them for absurd amounts of money. 

So it can't be much of a seller's market if there are so few eligible buyers out there.

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 Man with a Blue Box."
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