Quote:
Originally Posted by Velvet
I don’t see why house prices would decrease in TV because of the virus. The same number of people still need to live somewhere. Most of the owners are retired and not employed in the first place. We did not lose any significant number of people to death. The place is one of the safest from crime and virus in the country. In a few months all the fun will be back our amenities can buy. A lot of people will still need to retire from all over. People are chomping at the bit to rent or own here. So why would the home prices in TV decrease?
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I think they will decrease because they are artifically high as compared to 5 years ago. Why would a house that cost $400K in 2015 be worth $600-650K in 2020? The inflation rate is nowhere near that high. Also, potential buyers have lost money in their investments, and they will not be willing to spend as much on a house, especially when the future is so uncertain. So, I believe that sellers will need to accept a lower profit on their house. But, nobody really knows.