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This boom appears to be driven by the coronavirus pandemic.
I'm in market and my agent said when I list my house would sell in days. Where I'm looking to buy I'm seeing the same.
This boom appears to be driven by the coronavirus pandemic.
Bay Area real estate is absolutely on fire in the Bay Area in the month of June/July.
They will not let real estate crash, they learned that in 2008. Every month my mortgage servicer mails me a letter basically begging me to stop paying and telling me I can defer for up to a year with no consequences.
Dholliday126 saysThey will not let real estate crash, they learned that in 2008. Every month my mortgage servicer mails me a letter basically begging me to stop paying and telling me I can defer for up to a year with no consequences.
I believe there are ulterior motives at work here. They way be going for the angle of keeping you on the hook with their mortgage, as if you’re not in good standing it would be hard as hell for you to refi. In a 4.0%+ loan? Want to go to a below 3.0%? Not gonna happen if you’ve put yourself in a forbearance plan... they keep making that 4+ %.....
It is also the highest pace of sales growth since the height of the unprecedented housing boom in 2005. That expansion was driven by negligent lending in the subprime mortgage market. This boom appears to be driven by the coronavirus pandemic."
https://www.cnbc.com/2020/07/13/homebuilders-just-saw-the-strongest-june-sales-since-the-last-housing-boom.html