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Reply to "Prices dropping in COVID Boomtowns"
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[quote=Anonymous]The hot real estate market across the country and in rural areas was driven primarily by record low interest rates, not people moving from DC to the middle of nowhere. Most people weren't fleeing Indianapolis for a cheaper market. :roll: These price cuts indicate a cooling of the market. Rates have started creeping back up. And it's also October, which means most people who wanted to move in 2021 have moved because they tend to move in cycle with the school year. We'll see what happens in the spring. I do hope for a sensible cooling of the market but I'm not jumping into this "told you so" whining because so far nothing is really proving anything. A lot of people are still working remotely, a lot of people have effectively been told they can work remotely permanently, or only need to come into the office 1 or 2 days a week, and even that alone still has significant implications for the real estate market. [/quote]
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