About varmint


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In United States
Registered Oct 24, 2012

varmint's most recent comments:

  • On 16 Apr 2014 in The Housing Recovery That Never Was is Over, varmint said:

    smaulgld says

    the trend is towards more inventory and no increase in demand

    I see it the other way around, but with the same outcome. The trend is towards decreased demand. People are priced out and throwing in the towel. Prices can still escalate with weak demand if the supply is restricted enough, which is the market condition that's been going on for a while already.

    I'm not sure if/when we will see more inventory. If it's a gradual increase you'll see a flattening, maybe trending down as interest rates rise. If it's a big spike (big if) there could be some pullback in prices, but I would be very surprised if it erased more than the last 6 months or so gains.

  • On 16 Apr 2014 in Fixing the broken lower rungs of the property ladder, varmint said:

    $/sqft is highest at the bottom. Most investment activity was in lower priced houses, also retirees cashing out and downsizing? I'm not sure all the reasons for this but it's true.

    As a prospective 1st time buyer with 20% down I go into places and say "really... I'm going to pay 500/sqft/3.5k/month for this?" I can't even send my kids to public school here.

  • On 16 Apr 2014 in The Housing Recovery That Never Was is Over, varmint said:

    Prices can't go down until inventory goes up. Demand is down due to steep price increases but there's still not enough houses out there to meet what's left.

    By rational measures we've already blown the top off, but people aren't rational. I personally think we are close to a top but not there yet.

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