“The number one thing I am hearing is that ‘We need more space — we are all at home now,'" said Kara Birkenstock, a Los Angeles real estate agent with Rex brokerage.
The drop has lured more buyers into a market in which they’ve found few homes for sale, prompting bidding wars.According to a Redfin mortgage calculator, a $600,000 house purchased with a 20% down payment at last year’s average rate, would generate a monthly mortgage payment of $2,892, including property taxes and insurance. At today’s average rate, the monthly payment would be $217 less: $2,675.
Selma Hepp, an economist at CoreLogic, said it’s too early to know whether price gains are in fact slowing down. It’s not uncommon for the median to fluctuate month to month, and real estate agents still report bidding wars.Although prices gains may slow, few — if any — experts are predicting outright declines, citing the mismatch between supply and demand.
khouriandrew Well, these are not huts somewhere in Siberia, where the air temperature is lower than in the freezer.
khouriandrew Yep people complain when housing tries to get built.
khouriandrew ...further driving out middle class for highest bidder...the compassionate Cali way.
khouriandrew And LA is building $700,000 homes for the homeless.
khouriandrew Criminal.... rent up over 65% in the last 10 years, poverty up by at least 50%.!
khouriandrew Looming mortgage crisis again - banks are giving irresponsible loans again
khouriandrew Awesome if your wages jumped 10.1% during the past year, too.
khouriandrew Don't let these people fool you about a pandemic that is sweeping away large numbers of surplus population. The housing market is tight as ever with more buyers than sellers. I'd say we could lose a lot more and not see any measurable effect.
khouriandrew Maybe we should address the income and wealth disparity now?
khouriandrew It's always been over inflated. It's crossed over to unbelievable.
khouriandrew But I thought California has an exodus problem? LMAO More Kkkonservative stupidity
khouriandrew No idea how we are supposed to survive here
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.