U.S. home buyers are becoming more willing to purchase properties even as interest rates stay high, according to a study by Bank of America published on Monday.
There was another article a couple of days ago talking about how spending wasn’t down as much as they had been expecting. I wonder if this is part of the same kind of phenomenon.
As far as I can tell - at least in my area - home prices haven’t fallen but there’s fewer houses on the market. They’ve flattened out, but haven’t really come down. I don’t know if it’s a supply contraction keeping the prices up (because few people are willing to trade their 3% mortgages for 8%) or if there’s just enough demand and people are buying less house with the intention of refinancing.
Or investment groups are still buying houses because they don’t have to pay the same rates that individuals would, and then they’re turning them into short term rentals. I just saw an article a couple of days ago about how investors bought a huge chunk of the residential market this year. For all we know, this is just more of the rich grabbing our resources to consolidate them into profits later when we’ve all been squeezed out.
There was another article a couple of days ago talking about how spending wasn’t down as much as they had been expecting. I wonder if this is part of the same kind of phenomenon.
As far as I can tell - at least in my area - home prices haven’t fallen but there’s fewer houses on the market. They’ve flattened out, but haven’t really come down. I don’t know if it’s a supply contraction keeping the prices up (because few people are willing to trade their 3% mortgages for 8%) or if there’s just enough demand and people are buying less house with the intention of refinancing.
Or investment groups are still buying houses because they don’t have to pay the same rates that individuals would, and then they’re turning them into short term rentals. I just saw an article a couple of days ago about how investors bought a huge chunk of the residential market this year. For all we know, this is just more of the rich grabbing our resources to consolidate them into profits later when we’ve all been squeezed out.