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follow tovarichpeter 2017 Jan 11, 9:46am
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House sale agreements falling apart nationwide
OMG we are crashing.
I pray for the day my house drops to about $120K in a sellers market.
I didn't buy my house to get rich, and it will belong to my kids someday.
May it never be worth more than that for them.
Truliaâ€™s data only go back two years, so they donâ€™t indicate what rate is historically normal. Lyle Elliott, branch manager for Berkshire Hathaway HomeServices office in Ventura, Calif., didnâ€™t think his metropolitan areaâ€™s fail rate of 11.6 percent was particularly surprising. â€œWeâ€™ve had a robust year,â€ he said. â€œWhen you have more sales, you also have more sales that donâ€™t complete.â€
The houses are undervalued.
Who wants to buy into an asset class that doesn't double in value by the week?