Reply to Six Figures: DC-Area Home Sellers See Highest Profits on Record

Forum Index » Metropolitan DC Local Politics

Reply to "Six Figures: DC-Area Home Sellers See Highest Profits on Record"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]https://dc.urbanturf.com/articles/blog/six-figures-dc-area-home-sellers-saw-the-highest-profits-on-record-last-qua/18548

And yet, some say we don't need more market-rate housing.  :roll:  :roll:  :roll:  :roll: [/quote]

The study is kind of junky because it doesn't incorporate cost of maintenance or renovations that affect value at market.

Of course we need more market-rate housing, SFH to be specific.  But as they are not making anymore land, supply will be driven by turnover, not new construction.  It simply doesn't make financial sense for a lot of people to downsize even though they're over-housed, because their [b]current monthly housing expenses are less than they'd be if they downsized.[/b]  If I were planning to downsize three years from now, I'd definitely accelerate and downsize now because my house has appreciated faster than the types of units I'm looking to buy, and I don't think that disparity will persist.  [/quote]

That makes no sense. Unless they spent the sale proceeds on other stuff instead of putting it into the new home, why on earth would their costs go up?
The current market is good for people who want to downsize. I just did that. Sold bigger house in fairly competitive market and got 10% over asking and then turned around and bought a smaller house in lower COL area and paid 1% over asking. My new mortgage is half what it was and now I also have 100k to invest. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics