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But the housing experts on PatNet said...
A massive paradigm difference between now and before is remote work. A ton of professionals (like me) do not have to move we lose our jobs because we're remote and can get another remote gig. I know there's a lot of buzz about people returning to work, but remote work is here to stay forever. It's too lucrative for companies wanting to hire the best talent.
Yep. Companies are severely limiting themselves in hiring the best talent if they require people to relocate and go into the office. When I hire people, I have a massive advantage because they can be anywhere in the contiguous US and not have to move, or they can choose to move wherever they desire. This is what I did when I left CA for TN, which was the best decision I've made in a LONG time.
This is very true. There's also the fact that a couple that has one spouse that can remote work, then can move where they want to. They're usually leaving less desirable location to better ones. The other spouse is maybe a teacher, nurse, etc. that can easily find work elsewhere with the WFH spouse.
https://boredbat.com/homebuyers-need-to-earn-80-more-than-they-did-in-2020-to-afford-a-home-in-todays-market/
Homebuyers need to earn 80% more than they did in 2020 to afford a home in today’s market
Homebuyers need to earn 80% more than they did in 2020 to afford a home in today’s market
https://finance.yahoo.com/news/2-3-million-home-listing-180556772.html
A $2.3 million home listing in Nantucket slashed its price by a whopping 74% after its shoreline experienced drastic erosion in just a few weeks
My daughter married into a family that owns quite a bit of real estate on Nantucket.
UkraineIsTotallyFucked says
I want INCEASES, dammit!
We have to get to the no cuts phase before moving on to the we need increases phase.
We have to get to the no cuts phase before moving on to the we need increases phase.
But the Fed Experts on PatNet....
I heard on the radio about the 99 cent stores shutting in California, and below is the article. The radio news report said employee theft was a major reason for the closing.
Are there any remaining pro-California fluffers on Patnet ?
Are there any remaining pro-California fluffers on Patnet ?
Florida inventory rockets back to pre-COVID levels.
For every 1% increase in the 30 year rate, then house prices should drop 10% based on mortgage affordability.
AD says
For every 1% increase in the 30 year rate, then house prices should drop 10% based on mortgage affordability.
Only if corporate investors stop buying. Which you'd think they would because their financing costs go up too
Only if corporate investors stop buying
AD says
Are there any remaining pro-California fluffers on Patnet ?
Sure in terms of quality of life it's still worth it if you can afford it, despite them leftoids trying hard to wreck it
mell says
AD says
Are there any remaining pro-California fluffers on Patnet ?
Sure in terms of quality of life it's still worth it if you can afford it, despite them leftoids trying hard to wreck it
But you’re supporting them which means you’re part of the problem, no?
Can get a bigger house, more land elsewhere.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.