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US house prices are going to rise at twice the speed of inflation and pay: Reuters poll

Joseph

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#2
US house prices are going to rise at twice the speed of inflation and pay: Reuters poll
  • An acute shortage of affordable homes in the U.S. will continue over the coming year, according to a majority of property market analysts polled by Reuters.
  • The shortage is driving prices up faster than inflation and wage growth.
  • Annual average earnings growth has remained below 3 percent even as house price rises have averaged more than 5 percent over the last few years.

:oops: :confused:

https://www.cnbc.com/2018/06/06/us-...-speed-of-inflation-and-pay-reuters-poll.html
 

nickndfl

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Labor and material prices are going up. Land prices are going up. Mortgage rates are going up. I saw the market start to move in December 2015. A few companies bought up lots of foreclosures and rented them out to those who walked away from their homes during the financial crisis. Now they are locked out of buying for awhile and will end up paying more if they ever become homeowners again.
 

DodgebyDave

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Labor and material prices are going up. Land prices are going up. Mortgage rates are going up. I saw the market start to move in December 2015. A few companies bought up lots of foreclosures and rented them out to those who walked away from their homes during the financial crisis. Now they are locked out of buying for awhile and will end up paying more if they ever become homeowners again.

What I saw was that Brokers bought major low. I tried for several sweet sweet properties 2010-2014 and was sniped by brokers every time

I hate those guys!
 

nickndfl

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#6
I have 16 properties not including primary residence. I bought some during 2004-2006 and kept 2. I bought the last 14 since December 2015. At that time I got tipped off by a broker about the market moving after being in the toilet for years.

I went out and cherry picked some of the best locations in the city for cheap. I paid $13k each for two commercial properties when the original owner paid $80k & $90k each. I also paid $50k for a beautiful waterfront residential property. A year prior the seller turned down my $48k original offer, but it sat on the market. That seller paid $139k in 2007. Those are some of the big hits.

From 2003-2007 I watched the average 0..23 ac lot go from $6k to $85k. I am hoping the cycle repeats so I can retire.