Quote:
Originally Posted by Xaribe
Both myself and my wife were down for the Lifestyle visit (1 week before hurricane Ian). We began to look at several Veranda's in DeLuna. As we drove around the neighborhood, we noticed most of the smaller homes on the side street had new people moving in. However, there was little activity in the larger homes ($400K+). We drove up the street to look at other Veranda's. There stuck into the front lawn was a sign on a brand new Veranda, "For Rent". Having just looked at Rentals, I did noticed other brand new homes for rent as well, evident by the sparse furnishing shown in the pictures. My best guess was that some were purchasing new homes then flipping them as rentals. Strangely, even with rates at 7%, soon to move up, it will be interesting how the housing market does, as Realtors have been marking up many homes as much as 200%.
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Free money for housing loans created the monster inflation by quite a bit. How soon people forget the mortgage interest rates for the past few years is not normal and a huge factor in the current inflation. It will take time to return to normal but if the current policies hold, we’ll get there.