Quote:
Originally Posted by justjim
IMHO there are still many overpriced resales. For a homeowner to expect to double their money in five or less years is now totally unrealistic. Those in TV who purchased their home when rates were 3% are not about to trade that for a 6% interest rate. There are still cash buyers who may be waiting for further price drops. In the past, many new homes were purchased by current homeowners. I have not seen a 50k reduction on a new home by the Developer.
We had friends who recently looked at a new designer home with a 48,000 bond. The bond was a deal breaker for them. I understand their thinking. Overall, given the current economy and higher interest rates, I would rate the Developer’s first quarter results as above average.
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That would be a deal breaker for me too. Why should I pay that? The bond makes no sense to me.