Economy
Related: About this forumIs Housing In A Bubble?
I just saw the price of a new listing in my neighborhood. Housing prices are skyrocketing.
But this article suggests there is a genuine housing shortage. A two month supply of available houses, instead of the usual six months. And lending standards are staying firm. It's a little different from last time.
https://www.cnn.com/2021/07/27/economy/housing-bubble-fears-overblown/index.html
TreasonousBastard
(43,049 posts)70sEraVet
(3,535 posts)as a factor in driving up home prices and in causing a drop in numbers of new homes being built. No builder wants to add $30,000 to the cost of building a home, that they might not be able to recoup if the lumber prices drop back before the house goes on the market!
Laura PourMeADrink
(42,770 posts)Laura PourMeADrink
(42,770 posts)They will decline back to pre-covid. Sellers have gotten a taste of making much more money than their houses are worth. It will take slow turnover to convince them.
Warpy
(111,437 posts)I get cards at least once a week from friendly "persons" who want to pay top dollar for my house, cash, sight unseen. This is creating a bubble in housing prices. It's also a losing strategy since demographics are about to kick housing demand in the teeth as Boomers continue to die off and underpaid and overindebted Millennials and Gen Z are unable to enter the market.
So yes, there is a bubble and it will end about as well as the last one did.
Tomconroy
(7,611 posts)Go up for a few years and then level off. But higher prices are here to stay.
https://www.marcus.com/us/en/resources/heard-at-gs/housing-market