3 ms·
> Prices are determined by comparables. When home owners sell, and can push prices higher, it pushes all possible future prices for all properties nearby higher
by gottorf 2y ago
> Prices are determined by comparables. When home owners sell, and can push prices higher, it pushes all possible future prices for all properties nearby higher simultaneously.
Prices are determined by supply and demand. What you're describing is only true because supply is so choked relative to demand.
- bombcar 2y agoOffering prices are roughly set by comparables (and loan officers look at them) but you definitely can have prices start to drop, and drop fast. Anyone who didn't live through the last two house crashes will be in for a world of surprise when the next occurs, and it will - at some point; because something's gotta give.