Thursday, May 26, 2022

Like it or not.

2021 was a Record-Breaking Year in Real Estate. 


Trump blew this bubble sky high. And it's not okay. Just because it's your guy doesn't make it okay.

"Last year, home buyers spent nearly $3 trillion on real estate—the highest ever. That exceeds previous highs by more than $600 million that were set in 2020 and 2005, CoreLogic reports. 

Home prices are the main culprit behind that surge. By the end of 2021, home prices were 50% above their highest peak before the market downfall in 2006, CoreLogic reports."
 

The article goes on to say... 

"Researchers also cite the difference in types of homes purchased as another factor. Sales of higher-priced and spacious homes with larger square footage have boomed since 2020. In the 2000s, however, home sales favored smaller units in lower-priced areas."

Emphasis mine. Because apparently, suddenly it became easier to buy second and third houses within the last two years. Which normally I wouldn't have a problem with.... but.. You can't suppress one side of the market causing housing prices to skyrocket, and not think there is going to be a problem.

Honestly the housing crisis would blush at the shit I've seen.

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