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Originally Posted by csu87
Quote:
Originally Posted by ASBSECU E93
If you believe some of the people here on BP - I live in Hicksville, and yet my neighbor just sold their house for $750k....full asking price with 4 contingent offers if the sale does not go through in 30 days.
They paid $500k for the house 3 years ago....
My advise - buy a house, or a rental property and continue to rent where he's at.
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but whats that $750k house going to be worth in 3 years? $1m or back around $500k.
Same thing is happening around me. I could right now, list my house for $150k more than I paid exactly 1 year ago and have multiple offers by the time i go to sleep tonight. But then Im going to have to buy one of these inflated houses or wait for the market to drop again to buy one.
Instead I took advantage of the low interest rates and refid and save almost a car payment a month in mortgage. |
Market trends are relative to the economic health of your area and supply/demand.
I can only speak regarding the markets I know.
Charlotte NC for example - never saw a housing bubble, and continues to see exponential growth with lower supply.