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“ We could see an unprecedented ramp down in the already unprecedentedly low inventory.” What do you mean by this?
by wait_a_minute 4y ago
“ We could see an unprecedented ramp down in the already unprecedentedly low inventory.”
What do you mean by this?
- scoofy 4y agoRate lock-in homeowners refusing to sell because they're sustainable at current mortgage, but they'd be effectively underwater if they move. Thus, supply of housing declines to stabilize price because it matches stable demand.
- rootusrootus 4y agoWhy sell your house if it would mean giving up a <3% fixed rate mortgage and require you to pay a lot more interest on a new loan for a different home? Nobody is going to sell that doesn't have to, unless they've already paid off that mortgage and won't be getting one for the next house.