2 ms·
It was really interesting to watch. Prices kept going up until spring of 2018 when they crossed the threshold into too high territory. This is where we were kin
by ngngngng 8y ago
It was really interesting to watch. Prices kept going up until spring of 2018 when they crossed the threshold into too high territory. This is where we were kind of in a bubble because there were some willing buyers paying more than they could rent for. There weren't very many buyers that could afford those prices though, Salaries in Utah are historically lower than they would be in similar markets else where. If you're in Utah there's usually good reason to be stuck here. Religion, family, obsession with skiing, etc.
So now sellers are wanting the prices that houses sold for in the spring, but there just aren't enough buyers out there that can stomach that. And certainly not enough salaries out there that can stomach that.