Home Sales Dropped: Housing Market Update

[AFDB_Director]

8 minutes ago, tables said:

Bidding chesi illu kone sthomatha naaku ledu andi. Let’s see.

except for tech and I didn’t see any other occupation making lot of money in the last 2 years, so enduku ee rates ila perugutunnai asalu artham kavatledu. Sudden ga janala deggara intha money ela vachindi? Or edo interest rate takkuva undi ani 5% down chesi koniparestunnara?

Wfh. Remote jobs. Daycare paisal savings. Stock returns. Crypto returns. Old house appreciated double. Lot of reasons,  ppl have lot of money these days. 

[AFDB_Director]

56 minutes ago, nokia123 said:

 

intrest rates aa range lo peruguthunna inka ee bidding war aagadha....

Paisal unnayi bro janaku deggara. Plus prestige issues, intlo poru lot of reasons

[Fish]

32 minutes ago, tables said:

Bidding chesi illu kone sthomatha naaku ledu andi. Let’s see.

except for tech and I didn’t see any other occupation making lot of money in the last 2 years, so enduku ee rates ila perugutunnai asalu artham kavatledu. Sudden ga janala deggara intha money ela vachindi? Or edo interest rate takkuva undi ani 5% down chesi koniparestunnara?

IT lo pani chese vaale buying 2-3 homes for rental purpose

know someone from Bay Area bought rental houses in other good school communities around US…few are partnering to buy rental  property  

[sattipandu007]

8 hours ago, tables said:

Bidding chesi illu kone sthomatha naaku ledu andi. Let’s see.

except for tech and I didn’t see any other occupation making lot of money in the last 2 years, so enduku ee rates ila perugutunnai asalu artham kavatledu. Sudden ga janala deggara intha money ela vachindi? Or edo interest rate takkuva undi ani 5% down chesi koniparestunnara?

Lot of things,

inventory is super low. Builders are being careful not to flood market with lot of homes that caused issues in 2008 crash. Inventory has never been this low so even without any of the other factors taken into consideration this itself will increase demand.

remote work, if you don’t need to go to work you have no reason to stay near city in crummy apartments.

increase in suburban rentals, with Covid rentals in suburbs increased 20 to 50%. This has 2 impacts, people staying for rents suddenly feel they could simply buy house instead of paying someone as properties are also appreciating in value. People bought investment homes because of high rental returns.

 interest rates are one of the main reasons. It makes a difference on how much you can afford. Couple of % means you could afford 800k house instead of a 650k one. So people who had one home have huge incentive to buy a bigger one by selling current one with high price. They don’t feel any impact on buying second home, pinch is only for first time buyers.

easy money in last 2 years of stock market, real estate and crypto.

in desi communities one additional factor is green cards and eads. Big reason desis don’t buy home/investment home is visa issues. That’s gone for thousands of people. And include Chinese in same boat. Even 2015 2016 people I know bought saying they will get it soon.

FOMO kicking in because of ever increasing prices, people flipping because of easy money being made

[sureshkonda]

housing prices thaggavu vaya...inventory is too low

[Mr Mirchi]

E lanti thippasi videos vestharentra babu….. e videos anno sollu

[Usr220]

On 1/21/2022 at 9:35 PM, neneno1 said:

Toll brothers in Atlanta suburbs (cumming) lo 225k ki bid pick avvaledu 3 days back

I see decent rates in cumming area, exact location so we can look?

[Hitman]

On 1/22/2022 at 12:34 AM, tables said:

Except for low inventory I still did not understand what is the reason behind this insane increase in house prices.

Moving profit money into safe heaven of investment. Profits from stocks and multiple jobs… 

[Usr220]

Pls suggest specific areas in Atlanta to look for (Cummings, Alpharetta lo which street/area), I am outside state and willing to move.