One thing is for sure, they aren’t going up in the near future. Only time will tell what direction prices will go in the next couple of years. A lot of it will depend on three factors, when/if the virus gets under control (markets hate uncertainty), wheather the markets stabilize and show signs of recovery (people getting comfortable spending money on a new home), and the overall health of our country’s economy (critical things like unemployment, consumer confidence, businesses default rates, etc,,, ). Obviously, all these factors are related and only time will tell how things play out? One thing is for certain, there was already a very dangerous black cloud hanging over our country’s future before the Covid-19 reared it’s ugly head. The United States huge and out of control debt burden. Our debt is about to balloon to catastrophic levels with the upcoming federal stimulus and bailouts, which will most likely be of unprecedented proportions. Very dangerous times indeed.
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