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Posted by TheCloser123 on 5/25/23 10:24am
I am also a Realtor (imagine having both businesses tied to the housing market...I certainly didn't plan that well) what we are seeing, still, is an inventory issue. And now that housing prices are so completely out of control, those who may have thought about selling, have decided to stay put. They know that A. finding a new home is almost impossible B. all the profits they would make by selling their current home, will have to go into an over priced offer in order to secure a new property and C. there is no incentive to sell right now. Aside from the profit you might make. And that profit is either going directly into the next home, and soaked up by ridiculously high rental rates. Sadly this market isn't auto correcting, and I am beginning to wonder if it ever will. |
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