Quote:
Originally Posted by frayedends
I'd be impressed with property values doubling in 3 years both north and south.
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Dont hold your breath! In early January, the Developer slashed the prices of 250+ homes. I checked MLS this morning and 72 homes saw price reductions. The week before, 54 homes. Not likely the market is going to do a crazy turn around any time soon. For some time, we will most likely see prices leveling to undo the high prices of the after Covid craze.
At our age, seeing homes double in price is not a good thing. Insurance and taxes will be higher. The cost to maintain the home will be higher. How much do you think they will charge to place a new roof on a $750,000 home? Remember, if your home price goes up, so does every home. Inflation will go off the charts. It is much better when home prices stabilize.