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Reply to "Why do expert say: Buckle in for a brutal free-fall in home prices - Housing Bubble"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I have been looking at cottages on Maine for several years and after a sharp increase during the pandemic I can see the prices starting to soften. I’m hoping they will fall more so we can get a good deal![/quote] Maine was a steal several years ago, but no longer. However if there is a recession second homes will be the first thing to go so you might pick up something then.[/quote] Second home markets are already starting to soften. The short term rental market is flooded and people are having to discount off the prices they were getting during the pandemic. People who bought at the peak during the pandemic aren’t going to be able to easily cover their mortgages anymore. If we enter a real recession, it will be a good time to buy a second home. [/quote]
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