Bubble Meter - A housing bubble blog: Home prices up in MayOkay - WHY?
I note that within a 1-block radius of my house there are SIX houses on the market. To my knowledge, only one of these is 'distressed', but still...
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Humans are perverse; we have to test the boundaries. If we're told houses JUST AREN'T SELLING, we have to try our luck. And, the more rigid that boundary the more we resent and push against it. Houses in my neighborhood have been in a downward bidding war for the rare buyer's buck. Also, if your neighborhood is like mine, baby boomers are aging out of their houses, folks have to move to get work, babies arrive to make houses too small, etc. Life goes on.
ReplyDeleteOn the other hand, if you're asking why home prices are re-rising after they re-fell, hell if I know! What an insane time!