Well the market is trying to correct itself it seems. The prices should plateau at some point you would think, unless it’s still just all these cash buyers/corps salivating for property.
I saved for years before I bought my second house (was living in my ‘starter home’ for wayyy longer than expected) and I didn’t think I’d be able to afford a much better house than I already had - prices were exploding, houses didn’t stay on the market for more than a few days at the most, and I just couldn’t see paying so much more than I could reasonably afford for a house that wasn’t much better than I already owned.
Then 2008 happened, and suddenly I was the only buyer and I watched homes prices plumment in their listings. I bought a house that I’d seen listed at $360,000 just six months prior for $219,000 and scooped it up.
It’s one of the few times in my life I actually was able to take advantage of ‘the dip’, but it took 10 years of saving while living in a house that was way too small for my family.
i guess corporations with lots of cash on hand just look for ways to put money to work… they’ll continue to put it into real estate as long as it looks like a better long term investment than something else…
Well the market is trying to correct itself it seems. The prices should plateau at some point you would think, unless it’s still just all these cash buyers/corps salivating for property.
When stocks dip, you buy up the dip.
I saved for years before I bought my second house (was living in my ‘starter home’ for wayyy longer than expected) and I didn’t think I’d be able to afford a much better house than I already had - prices were exploding, houses didn’t stay on the market for more than a few days at the most, and I just couldn’t see paying so much more than I could reasonably afford for a house that wasn’t much better than I already owned.
Then 2008 happened, and suddenly I was the only buyer and I watched homes prices plumment in their listings. I bought a house that I’d seen listed at $360,000 just six months prior for $219,000 and scooped it up.
It’s one of the few times in my life I actually was able to take advantage of ‘the dip’, but it took 10 years of saving while living in a house that was way too small for my family.
That’s how we got into this problem.
House prices never come down unless the local economy crashes.
i guess corporations with lots of cash on hand just look for ways to put money to work… they’ll continue to put it into real estate as long as it looks like a better long term investment than something else…