4 ms·
A 10% drop is nothing for anyone that has owned for more than 3 years, at least in my area.
by lampshades 4y ago
A 10% drop is nothing for anyone that has owned for more than 3 years, at least in my area.
- seanmcdirmid 4y agoA 10% drop would set me back in equity to where we were 6 months ago. Market is crazy, of course something has to give eventually.
- bufferoverflow 4y agoWhere I live a house across the street that was estimated at $800K just sold for $1.3M. Our house went up 25% in 6 months. There's not enough inventory in good low crime areas. Even in less safe places we see close to zero houses for sale, and if one appears, it's sold in a week. And there won't be inventory any time soon, because residents don't want tall buildings here. 10% drop - yeah, good luck, noone will notice that.
- ryanSrich 4y agoI live in a blue collar neighborhood of a west coast city. I’ve done extensive work to update my home, I’ve added features like central air, new floors, new lighting, and landscaping. It’s like a new house (though it was built in 1955). Both Zillow and Redfin tell me my house is worth roughly double of what I paid for it in 2015. That’s without even considering the upgrades I’ve done. A 10% drop from the current estimate is meaningless when most homes are worth 50-150% more than what they were worth 10 years ago.
- hackerfromthefu 4y agoBut for someone just purchasing now, paying those mega high prices, a 10% drop is a lot of money they borrowed .