“The price increases are crazy,” real-estate agent Amy Downs in the Dallas suburb of Garland echoed to the Wall Street Journal. And it’s not good for business; a lot of her clients stopped searching for a new home."
I was going to start a new thread but this fits in with yours.
Glad to see incomes exploding so everyone can buy overpriced houses.LOL
Dallas? Price increases crazy there? This raises a serious red flag with me on the validity and accuracy of these news articles.
I own a property right in the city of Dallas, so obviously, I would occasionally check in on the perceived value and I assure you no one is adding 50k, 75k, 100k, or 150k onto the listing prices in my zip code as is happening here in California.
Garland, TX? A quick search on Redfin delivers 439 properties in that suburb alone, with a few exceptions the highest price house is $349k!
Their strategy was to raise home prices “to the point of significantly slowing down sales pace,” he explained. And that point has been reached. Homebuyers are maxed out. That’s what ultimately pricked the last housing bubble. And that’s what will eventually prick this bubble too.