[Boomer]

This is going on everywhere, and it’s being caused by a mix of things — most of which have already been mentioned in this thread.

Emotion is a player in many real estate transactions, but this time it seems like the emotional component is a bigger part than usual.

Who would have ever thought that a pandemic would make people want to move.

Inventories in places other than TV are practically non-existent. First-time homebuyers are paying through the nose for houses that would have cost a whole lot less before 2020 — that’s if they can find one. Bidding wars are raging.

Those in bigger homes who might be ready to sell are hesitant. Although their homes might sell fast, they better have some place to go. (Maybe this is part of what is driving the TV market because there is always a house to buy.)

There is something eerie about the current national real estate market. This cannot go on forever. The RE market needs to take a breath before it grows some economically dangerous, far-reaching arms and legs.

I hope homeowners are not too quick to borrow against what could be phantom equity. Remember that term “underwater mortgages”?

We are a nation of amnesiacs. (sigh)

Cassandra Boomer