Dec 6, 2022
Things are sounding a bit scary
out there in the real estate world. Interest rates have surged,
less people can afford to purchase, real estate prices are falling,
and people are backing out of deals!
According to Bloomberg, home prices are
decelerating at the fastest
rate in over a decade
across major markets in the U.S., and homebuyers are increasingly
backing out of deals (a
record 16% in July 2022)
On
top of that we are seeing savings accounts depleted, consumer
credit debt is on the rise, and general prices for necessities like
food and energy keep creeping up due to inflation; that is not a
good combination.
At the same time though, it’s been a while since I’ve seen so many real estate “opportunities” coming across my mailbox with price reductions. So now that we have officially entered a buyer’s market, should we actually be buying? Or should we wait around for prices to keep dropping?
This week:
- What it means to be in a buyers market
- Opportunities
- Should we actually buy? Or wait…
- Every Market is different
- What to do if you are underwater…
- What this means for rents (and renters)
- Int’l opportunities