Quote:
Originally Posted by fotze
I think people are saying you should sell because its going to drop again.
I have trouble with these debates because I have yet to find an unbiased view on either side.
There are the realtor/property owners who want/need the property values to increase so they find whatever stat supports that.
Then you have the people who don't own a home but want to own a home but are sickened by the price that you have to pay arguing the other side.
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Yeah - it's a pretty tough industry to follow.
Looking at the supply (MLS) seems to be about 4 months SFH, and almost 4 months of condos. I wonder if people stop buying due to interest rates or this sudden buying spree dries up if this glut could cause another drop in prices. But then maybe people will just pull their listings? I can't imagine there are that many overextended people that are going to sell at basement prices either.
There was an article in the Globe today about commercial real estate and how there was so few distressed sales. Owners just didn't ever hit that point where they had to sell. As such there's not much going on.
Maybe that's what we'll see for awhile.
I'm kind of in the middle. Own 1.5 townhouse's up is good for me breaking even or coming out ahead, but not great for buying something bigger. Down is good for buying something bigger but not great for ditching the 1.5 townhouses. Although down helps get something else and maybe just keep the 1.5 townhouses.
Stupid houses.