Monday, August 28, 2023 / by Julie Winter-Paez
If you’ve been listening to the real estate crash callers over the last two years, hoping the real estate market was going to crash, I’m sorry, but that day ain’t coming any time soon.
Why? Because a majority of homeowners have super low-interest rates. (Lock in Effect) Why would you sell a home with a 3% interest rate and buy a new house at a higher price and a 7% rate? You wouldn’t unless you had to or you get to. And most people can’t afford to, so here we are.
Now, going back to our supply and demand situation.
Simply put, there isn’t enough inventory in the market to crash or dramatically reduce home prices yet. Stop listening to people who prey on your fear and lack of understanding. (Michael Scott) Do some research and make data-driven decisions that are best for you, not what some dude like me on the internet says.
Real Estate as an asset has proven itself over time, and it doesn’t need a crash caller, Realtors, or an average Joe to validate it. (FED)
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