patrick.net

He's right about it being a great time to sell, but the trade up market isn't going to be dead with higher interest rates. The trade up buyers are going to be the ones who sold now and buy twice the house for the same price after this bubble pops.

when someone sells,where will he/she go,but to buy another one or rent.

these realtors can now potentially get 2 transactions from 1 person by nudging them to sell.

rv says

when someone sells,where will he/she go

Exactly. It is an unfortunate feedback loop where people want to sell, but don't see anything to buy so they don't list. Inventory drops, more move-up sellers decide not to list, and so on.

Eventually that is going to be some event that spooks would-be sellers into selling, but I have no idea what that could be. Maybe if rates jump up again they will try to cash out while they can, but again there's the issue of, "where to go?"

This real estate thing is too complicated. Glad I found a box to defend myself and my family during cannibal anarchy.