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Real Estate
Reply to "Feels like market is hitting a wall"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There's no inventory. People with 2-4 percent rates are not gonna sell and take on an 8 percent rate mortgage unless they absolutely have to, and the rates are scaring away potential first-time buyers (unless they are rich enough to pay cash). The market is essentially frozen.[/quote] Prices are starting to and continuing to go down. This will not be a fast process (and prices may go down only slightly in really nice areas) but it is happening. The national association of realtors has told buyers to get used to high interest rates and current prices and start buying (Yes they really did say this) but ignore them [/quote] Just because you say this (every August) doesn't mean it's true.[/quote]
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