Quote:
Originally Posted by Rooklift
1. In my opinion prices will drop and we are already seeing the beginnings of this.
2. This is not a resort community. ( a 65 - 70 yr old woman at Aldi passed on buying eggs for 5 dollars as they were too expensive)
3. Interest rates will effect all potential non cash buyers lowering the supply of buyers at these prices.
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Time will tell if prices will drop or not. Last time around in 2008 they didn't drop much and rebounded quickly. Time on market is just slightly up for pre-owned homes, but new construction still sells within hours of being released. There are something like 70% cash buyers here, so mortgage rates have minimal impact.
Now, what does the price of eggs, and whether or not a woman who may or may not even live in The Villages passing on their purchase, have to do with home sales?????