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Real Estate
Reply to "Impact of stock market crash on real estate?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Inventory will fall even lower. People will sit on low interest rates and ride it out.[/quote] Exactly this. I would love to buy a larger house in my neighborhood but no one is selling. The cheapest thing for many people (anyone who bought more than three years ago) is to stay put (unless they need to move for a new job, but hiring is basically frozen too). And most boomers aren't leaving their huge houses to downsize either unless they're on death's doorstep.[/quote] +1 It's not even cheaper to downsize when you factor in higher interest rates, realtor fees, transfer taxes, and moving costs. Plus we always spend a bit on the inevitable new storage solutions, painting, and some new furnishings every time we move. Our furniture never perfectly works in the new place so there's always some area that needs a new piece of furniture or a room that needs new lighting.[/quote]
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