Quote:
Originally Posted by TorqueDog
I'm not saying they won't get bought; they will absolutely get bought. But it's creating the wrong type of inventory to solve the housing crisis, young families aren't looking to buy seven-figure executive townhomes, and the current state of the market within a 15 minute drive to the core isn't great either, so people move further and further out to get what they want and we continue to sprawl. you&me captured my thoughts on the subject very well.
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Other than newcomers to the city, what are buyers of these homes doing with their current place? Selling it or renting it out, most likely. If they are moving up, they are selling their old place at a lower amount so that lower market people can buy in. And so on, and so on.