The Housing Market Is Crazier Than It’s Been Since 2006

  • 📰 WSJ
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Buying a home this spring? Here’s why it’s so competitive

Less than a day after real-estate agent Andrea White listed a three-bedroom home for sale in Sacramento, Calif., in March, she received an all-cash offer. The buyer—who had not even seen the home in person—was ready to pay $520,000, Ms. White said. That was $21,000 above the asking price and 37% more than the seller had paid for the ranch-style home only two years ago.

Accepting the offer was the easy part. Ms. White then had to call 17 other agents who had scheduled tours of the house to let them know it was off the market. Ms. White, who works for brokerage Redfin Corp. and has been an agent since 2014, has never seen anything like the sales mania gripping her Northern California city. “It’s exhausting,” she said. “I’m speechless. It’s heartbreaking for buyers; it’s celebration for sellers.”in 14 years. Home values are rising in practically every corner of the U.S., and median sale prices in dozens of metro areas have posted double-digit percentage increases from a year ago, according to Zillow Group Inc.

“Prices are up virtually everywhere,” said Mark Vitner, senior economist at Wells Fargo & Co. “It is surprising to see home prices rebound this quickly, by this magnitude, this early into an economic recovery.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Redmond577 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️

sunchartist Imagine what the housing market will look like when the Fed drops the rates to negative..

Real estate agents that have the same goal as a used car salesman.

I've been watching prices in my little town climb to pre 2008 crash prices. Fixer-uppers that need everything from a foundation to wiring, plumbing, and total remodels are selling for what a nice remodeled home was selling for just a year ago. There has to be a correction coming.

Sounds great, not like anything bad happened in 2007!

By no metric are these prices serviceable with normal incomes. Clearly the overbidders are banking on either a 10:1 devaluation of the dollar, or the introduction of a new currency that will wipe out all pre-existing debts (and cash savings) like when the Soviet Union collapsed.

It could help the building market but high lumber prices are an obstacle.

This does not bode well for 2023

Time to wait, buying now is buying at peak. You'll be screwed when rates rise and it all comes tumbling down.

Can we go somewhere today?

Wait till the collapse start! Crazy will not even begin to describe it!

Because banks, corporations, & rich people are buying up properties as investments to flip and propping it up. It's another bubble and it's going to pop eventually. A large portion of millennials for example, who in theory should be buying homes, can't, due to lack of money.

The game is past rigged. 1776 rigged.

What the fuck is that in the photo

This time it’s different

Home buyers: A bidding war awaits those brave enough to navigate the real-estate market in 2021

gotta lock in those low interest rates.

A very large chunk of the joy has been taken out of the process. Speaking from experience.

wow

That’s a great news

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Americans think it’s better to invest in housing than the stock market — here’s whyAmericans’ attitudes toward where to put their money have shifted over the course of the pandemic. because we're tired of coked up wall street frat bros playing vegas casino with our retirement? Stock Market that you can Live in.....untapped market. Somebody build it. Literally nobody thinks this.
Source: MarketWatch - 🏆 3. / 97 Read more »

After Roaring In 2020, Biotech Stocks Now Weighed Down By Merger Scrutiny, FDA Approval Delays And Possible Drug Pricing LegislationI have more than 20 yrs experience in writing about financial markets. I am especially interested in history and literature.
Source: Forbes - 🏆 394. / 53 Read more »

After Roaring In 2020, Biotech Stocks Now Weighed Down By Merger Scrutiny, FDA Approval Delays And Possible Drug Pricing LegislationAfter roaring in 2020, biotech stocks are now weighed down by merger scrutiny, FDA approval delays and possible drug pricing legislation
Source: Forbes - 🏆 394. / 53 Read more »

After Roaring In 2020, Biotech Stocks Now Weighed Down By Merger Scrutiny, FDA Approval Delays And Possible Drug Pricing LegislationAfter roaring in 2020, biotech stocks are now weighed down by merger scrutiny, FDA approval delays and possible drug pricing legislation
Source: Forbes - 🏆 394. / 53 Read more »