Quote:
Originally Posted by LianneMigiano
And then we had the bubble BURST and home prices dropped drastically. Wouldn't suggest that people buy in this market as an investment to flip with the previous market that happened....
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I really don't think this will happen as dramatically as it's happened in the past Because everyone keeps forgetting about the Pandemic. Now many people close to retirement are able to work remotely so many are buying thier retirement homes, working then retiring in place. It's going to be a long time till this changes.
Also the developer is building like crazy. Whether i like them or not they know what they are doing so at least they don't believe the housing market will slow down any time soon.
In addition, many are selling their homes up north for over inflated prices then just using that money to buy homes here at the same over inflated prices. It's a property swap. We bought our Ivy last June at a price that i felt was way too much. None of my neighbors wanted the house for the same reason. But we bought it because it had a lot of upgrades and was perfect for us. It also has a view and that's another feature that causes the home to be sold at a crazy price. Now almost a year later, the price we paid in my opinion was a bargain! The house now is worth a couple hundred thousand more than we paid for it. Many of my neighbors who wanted to buy my house as a upgrade are kicking themselves.