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| post_id | thread_id | thread_title | post_number | author_username | post_date | post_date_iso | post_body |
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| 207711 | 10448 | Cities to Surf and raise a family in that are somewhat affordable? | 55 | PeakMaster | May 18, 2021 | 2021-05-18T17:13:58-0400 | Fishface said: housing prices go up and down... What we are seeing right now is ultra low interest rates, low inventory and with mortgage forbearance and halts to evictions. Data is showing well over 3 million homes being 90 days past due. There really isnt an incentive for people to sell unless they are moving out of state or upgrading from a smaller house. The people not paying arent getting foreclosed. I am a mortgage loan officer and have 25 preapprovals with clients putting offers in left and right. Once these covid restrictions on housing lift - there may be more supply which will stabilize the market. Also, the non stop printing of money by the feds to fund these covid stimulus packages will lead to inflation and that will result in higher interest rates which will knock down affordability of these homes. That could lead to lower prices but the payments would be the same. One piece of advice. Lenders will only loan on the lower of the purchase price or the appraisal amount. So if youre putting in a high offer and the appraisal is lower be prepared to come in with that extra cash.... Click to expand... Your advice is sound but irrelevant to beach communities. Real estate within 1 mile of any beach, any coast is/ has skyrocketed. It will never come back to a lower price, |