Housing market
- Thread starter simply1
- Start date
Guess that depends on how a person defines "sucks"
Interesting to see it's still crazy up there. We moved away from Shakopee in Oct 2020. Sold our place for $275k. Zillow currently has it at $350k, Redfin at $310k. Even on the low end, that's 13% growth in a year. Goodness.
Housing market remains nuts and don't expect that to change anytime soon. We're looking to build (which is just as bad) since we figured if we're going to pay out the ass, it may as well be exactly what we want. We're in Madison area and I'm certain we could set our home for 40% more than we bought it for 4 years ago.
Our realtor said talk within the industry is this market will probably continue another 3 years. 
I have been monitoring houses in South Florida (Hoping to retire in a few years and split time) and most places that I am seeing are showing lists prices of 70 - 90% increase over the price 3 years ago. Think I will wait a while to pursue anything.
We stayed at an airbnb in Golden, CO last fall. Our unit was the carriage house to a bigger house in the historic district. House next door was for sale for $1.5M. I looked at the history for the place we were staying. Owners bought for $517k in 2017 and it was now worth $1.5M, as well. 25% annualized growth. Bonkers.
The outlook for many places is another double digit year in prices. Considering how high they’ve gone already, it really is bonkers.
Not quite as bad but the place I just bought increased by 12.5%/yr since it sold previously in 2017 (365k - 495k)
demoncore1031
Well-Known Member
I have the option to work from home, so really I can move anywhere. Being a single parent is tough though so cost is a huge factor.
demoncore1031
Well-Known Member
I looked at a house yesterday that is valued at $240k. That lady bought it for 95 just a few years ago.
Living in Iowa would be affordable and I would be able to put money in savings. Living in New Mexico is another story.
Living in Iowa would be affordable and I would be able to put money in savings. Living in New Mexico is another story.
I’m heavily invested in real estate so obviously hope this doesn’t happen, but part of me wonders if this ginormous bubble is about to burst. That’s what I would be scared about if I was a first time buyer.
Most of those people seriously have no clue what they’re talking about.Our realtor said talk within the industry is this market will probably continue another 3 years.
What places? Florida is not changing any time soon and people from all over keep flocking to the state. Fastest growing state last year
Govt. won't let another bubble happen. No president wants that to happen on their watch
I'm keeping an eye on the interest rates and workforce numbers (not unemployment rate). Either could make housing unaffordable and begin a downward pressure.
On the other hand Millennials are forming households at a good clip
Throw in some market specific issues (my area STILL hasn't matched the pre-great recession highs) and it's.....well tough to say
That's nothing.
Photos: This single-family home in San Jose has sold for $1 million over asking
The ranch-style house was listed for $1.875 million in early December and received an offer after just one day on the market.
www.mercurynews.com
