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There seem to be conflicting takes on whether this is a bubble or not.
This shit makes me sick to my stomach, because I'm inclined to believe that this isn't a bubble for a lot of reasons, and there's no major factors on the horizon that I can see that will result in a significant drop.
These local prices have increased dramatically. One particular home in a brand new neighborhood went from 380 or so when I started this post, to 475 right today. Everything left in older neighborhoods starts at 400k, and there's nothing remotely worth owning for that amount.
Renting is already a bitch, and I don't see any improvements on that front. The current ownership where we are gave us a solid offer, which was immediately rescinded. Come to find out, it's because they can only raise it a certain amount within a year's time, because they need to "recalculate" the offer.
It's whatever. I'm not holding my breath and I've already begun searching, just in case. They're required to provide 60 days notice, in the event that they want to give us the boot in order to get a new tenet at a much higher rate than they can raise it to a present tenet.
All in all though, this housing market looks to get much worse-if you're a prospective buyer, or better, if you're a home owner with equity-until something happens to bring things back down to Earth.
I'm just glad we're stable and in a place where we can, within reason, manage such swings. Plenty of people can't without making huge quality of life sacrifices.
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