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Your response is also very confusing. Foreclosed homes usually go on the market for a steep discount. Additionally widespread foreclosures would depress house
by atian 6y ago
Your response is also very confusing.
Foreclosed homes usually go on the market for a steep discount. Additionally widespread foreclosures would depress house pricing in general. The market will gradually price in reduced rent-seeking ability.
For a buyer, it may be a good option to wait a relatively short period for prices to depress rather than build a new home at this time.
Edit: Mentioned reduced landlord rent-seeking ability in response to @sombremesa’s question if rental properties would affect pricing.
- BeetleB 6y ago> Foreclosed homes usually go on the market for a steep discount. This may be market dependent. When I was buying a house, foreclosed homes were usually not any cheaper. > For a buyer, it may be a good option to wait a relatively short period for prices to depress rather than build a new home at this time. I think the general gist is that suburban houses are in demand now, and prices are not dropping. Some may hope that they will drop in the future for reasons you are pointing out, but it's a gamble that depends on the timeline of building a house and how long coronavirus is around vs how long it will take for prices to come down.