4 ms·

Our housing market is pretty excellent

• Mikeb85 4y ago
  If by excellent you mean wildly overpriced then yes.
  • ipaddr 4y ago
    Overpriced means it is priced so high people will not pay. The reality is with a low inventory and high demand levels prices will go higher. High demand justifies higher prices when inventory is low. I don't see demand reducing or inventory levels increasing for a few years interest rate notwithstanding. I would buy now because prices are only going up.
    • brailsafe 4y ago
      Overpriced in my mind means priced so high people can't realistically pay without being extremely wealthy or committing mortgage fraud, or priced so high that the practical value that could be derived from it as an intrinsically useful asset is significantly smaller than what you have to pay. Does $600k for a studio, or like $3500/month seem appropriately priced? Sure some people are willing to spend $9k on a pair of shoes, but they're still overpriced.
    • Mikeb85 4y ago
      Some of what you said is correct except prices are going down because of interest rates. Also high real estate prices have hurt other areas of the economy. And the demand is largely due to money laundering out of China, not fundamentals.
      • ipaddr 4y ago
        Is the money laundering part of the fundamentals since it has been going on for so long