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KindaEgotistical OP t1_j5tdrzq wrote

Reply to comment by 1234nameuser in The inventory of houses suck by KindaEgotistical

This is to be fair the only time I’ve heard of a good reason to not buy.

But for the most part if I don’t buy now, when I buy when everyone says it’s a good time to buy I’ll have to bid against 4 different people again. At least in this market people are taking at offer price or less or simply dropping their asking price.

But because of how terrible inventory is and the pricing I might wait at this point. If prices fall great but houses tend to appreciate if only by a little lol I’d feel more confident if a bunch of good neighborhoods sold their house 2/3rds less than comps in the area I’d love that so that it can just reset prices all around.

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Yenttirb_I_am t1_j5tesa0 wrote

I suspect you’ll have more inventory popping up in the spring. You’re near a military family area, too, which helps. People will put their houses up for sale in spring and summer and move before next school year starts up.

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KindaEgotistical OP t1_j5tf0ra wrote

This gives me some hope of course maybe I should just be patient about it. Last year I originally didn’t expect things to be better till 3rd quarter this year haha but it’s just annoying just waiting when you don’t know what will come

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secretmuffinsauce t1_j5tj97f wrote

Just wondering what makes you think people will want to move? Most people refuse to sell because there is nothing to buy.

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nikedude t1_j5tpkdv wrote

People die. Jobs change. People get sick of the climate or move closer to help out family. Life happens

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CatsNSquirrels t1_j5tp9za wrote

And also because many people have sub-3% interest rates. Nobody is going to sell until rates come down, because it makes zero sense to lose a cheap loan just to trade spaces (and there are very few homes to even choose from). The only people who will be selling are those who have to.

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Yenttirb_I_am t1_j5u6rpw wrote

There are lots of reasons people end up HAVING to move- I specifically stated it’s a big military area and unfortunately when you get a new station, you can’t say no “due to lack of housing.”

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1234nameuser t1_j5tfg8s wrote

Inventory is really all that matters. The pandemic was easily the largest demand pull our economy has seen in history (unsustainable low rates) so we know recent prices are entirely unsustainable on demand alone.......which has now cratered to all time record lows, naturally.

With money literally raining down from the sky (PPP loans being the scam of the century) everything escalated quickly and it's literally guaranteed there will be a long painful hangover. Let's all enjoy the ride.

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