Quote:
Originally Posted by dreamingat30fps
Part of the lack of supply I think is the higher rates. If you are paying 2-3% why would you want to sell your house and get into a much higher rate loan unless you absolutely had to.
I'm sort of in that camp. I would like to sell our FL home and buy something else further north maybe with an acre or so. While my home is paid off any home that would be worth the move for us is now a million dollars or more. Considering our home is worth probably around $600k that means I would still have to come up with another $400k or so with some high interest rate loan. Just not worth it, especially when even at a million dollars the few properties that meet our needs are typically just meh. They certainly don't look like what a million dollar home looks like in my head.  |
the lack of supply is primarily due to an over stimulation of demand of the last 5 years of low rates... basically everything that could have been was sold off
... so let's say you had low interest rates right now... you would have more transactions sure...at a FAR higher cost than we already have lol... so prices would climb further and you total transaction costs would go up even further... again, there are no resolutions to the current problem at this time