Thoughts on real estate??

[pinkytoe]

I peruse real estate sites looking for our next home and have noticed that higher end home listings ($750K and up) are suddenly very numerous; there are way more than usual. Some days no listings at all when in the past there would be many to look at. It is hard to make buying/selling decisions when everything is so unsettled. Wonder what the crystal ball says about the future of housing as we move through this virus disaster?? Also wonder why so many big, expensive homes are being sold?

[bae]

Random thoughts:

- stock market madness causing lower net worth, or more fears of the future
- covid-induced economic disruptions causing loss of income, or future fear
- people downsizing, or ditching second homes, because of the above
- depending on the area, increased market for homes in "safe" areas causing sellers to appear

[sweetana3]

Real estate can be a very local issue.

In our area, houses in lower cost ranges in good school districts are causing bidding wars. Empty lots in the building areas of our sort of inner city are a hot commodity. Tear downs are in demand in a couple of areas.

[Gardnr]

They bought a house they couldn't afford and are trying to get out of it without a major loss.

Real estate here is moving in a day-as it has been for several years. Our market hasn't changed 1 bit!

[Tybee]

I think at the higher levels, it may be stock market related, as many think a repeat of 2008 coming, and they don't want to be holding the bag with the real estate when it drops in value.

[alice]

many people thing its gonna be worse than in 2008

[iris lilies]

I heard New York City prices are down in rents and sales because people are fleeing the city, a very high cost of living as we all know, to stay in cheaper places and work remotely. Why pay $5000 a month rent when you canPay $2000 a month?

[catherine]

I heard New York City prices are down in rents and sales because people are fleeing the city, a very high cost of living as we all know, to stay in cheaper places and work remotely. Why pay $5000 a month rent when you canPay $2000 a month?

Absolutely correct. Even our house in NJ is seeing a price surge. Nice property in CT is going ridiculously fast. Now that people and companies are realizing the benefits of telecommuting, and realizing how it sucks to be suffering heat island effect of cities during a pandemic, Green Acres is calling.

[Teacher Terry]

Lake Tahoe real estate is booming as is ours. The average family of 4 here makes 48k yet the medium price of a house is 459 and our next door neighbor sparks is 400k.

[pinkytoe]

I keep asking myself how did everyone get so rich that there are so many half million dollar homes on the market??