#house #Realestate #homeaffordability
We basically covered 3 main things on the livestream today.
First John talked about his showings for the day. What did he like, what did his buyers think, etc. The point was made that if you want to buy a house without buyer’s remorse, it’s probably best that you look at many houses so that you can compare what you are seeing in the marketplace.
Next, John went over an article from the NY Post that says that google search is seeing a 2,750% increase in the search term, “Sell my home fast”. Is this a harbinger of things to come or is this just one of those odd coincidences? While we can never know the future, we have a pretty good foundation if we buy a house that we want to live in for a long time. Worrying about the day to day in the housing market is way too stressful and counterproductive.
Finally, John discussed an article that indicates that home “affordability” is way too low and what are some of the reasons for this. John thinks inflation is the most dangerous economic situation in the country right now and not enough is being done about it. Spending more government money to stop inflation is a recipe for more inflation. This isn’t difficult.
The affordability issue in housing is real. While many will point to building more houses, the types of homes builders are going to want to build are usually not for the lowest end of the public. Why is that? Profit motive. It’s just more profitable to build homes that cater to the upper middle class given the restrictions in lot sizes and construction methods.
Subscribe to our channel!
https://www.youtube.com/c/Deerwoodrealtystl
Also on Rumble
https://rumble.com/c/deerwoodrealty
Want to be social?
Facebook https://www.facebook.com/DeerwoodRealty/
Twitter https://twitter.com/deerwoodrealty
Instagram https://www.instagram.com/deerwoodrealty
“The single most important decision you make is where you live.
It drives your business opportunities, relationships, food and water supply, politics, activities, and day-to-day quality of life.” Naval
30 year fixed mortgage rate came in at 5.18%
Home showing report for Saturday
First house in University City
Second house in Bevo
A. Google searches for “sell my home” spike?
B. Housing Affordability index drops…still too high?
Sources:
https://nypost.com/2022/08/02/google-searches-for-sell-my-home-fast-spike-2750/
Drop me a line @ media@deerwoodrealtystl.com
We’re online at https://www.deerwoodrealtystl.com/