Subj : Re: Housing Market
To : Nightfox
From : boraxman
Date : Sat Apr 19 2025 12:20 pm
On 18 Apr 2025 at 01:02p, Nightfox pondered and said...
Ni> Re: Re: Housing Market
Ni> By: Gryphon to Nightfox on Sat Apr 19 2025 06:07 am
Ni>
Ni> Gr> In central Texas, there is a large inventory of available houses, but
Ni> Gr> nobody is buying. They aren't buying because the prices are too high
Ni> Gr> the mortgage rates are going up. I got my mortgage at 3.25%. I'm hear
Ni> Gr> of 7% rates going forward. Rates like that will keep the buyers away.
Ni> Gr> only buyers will be the big corps that can pay cash or get really rea
Ni> Gr> good rates. Then they will turn around and rent them for absurd amoun
Ni> Gr> money.
Ni>
Ni> Gr> So it can't be much of a seller's market if there are so few eligible
Ni> Gr> buyers out there.
Ni>
Ni> I imagine sellers would have to drop the prices then in order to attract
Ni> buyers. I guess it might be more of a buyer's market..
Not so. In Australia they just leave the house empty. Landlords are often stupid and greedy. These aren't sophisticated investors... I've seen businesses move out, close up, because of high rents, then the office/building stay EMPTY for months because of the insanely high rent.
They just complain how unfair it all is instead of dropping their prices.
