Reply to So glad we sold in early Spring!

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[quote=Anonymous][quote=VArealtor][quote=Anonymous]Realtor here. The market starting slowing in the last couple of weeks. As it always does the day school lets out. There will be some pickup in late July with listings for school-sensitive shoppers who want to settle before Labor Day.

This happens every year. Nothing seems abnormal this summer, other than the spring was incredibly active with a lot of pent up demand. I still hear about pent up buyer demand but inventory is thin for quality product.[/quote]

Absolutely this regarding the current market. [b]It's no where slower than it was last year and yes,[/b] spring was unusually hot. Houses that sat on the market were usually priced too highly or had some other undesirable quality.

BUT I read the article OP sited when it first appeared on naked capitalism and I do agree with its assessment. [b]Feds kept interest rates artificially low for too long and it's just not a sustainable model. Eventually, the rates will normalize and that, coupled with inflation and un/underemployment will result in housing prices shifting back to an appropriate pricing zone.[/b]

For this reason, I *never* market home ownership as an investment opportunity to clients (unless it actually is but those situations are rare nowadays). 10-15 years ago you could expect a generous appreciation but today you'll be lucky if you keep up with inflation. At least until we get through this economic slump but who knows how long that will take. [/quote]

Another agent. I don't agree with your first bolded statement - but that's because I was working mostly in big bubble areas like the Hill, Brookland, generally all downtown. It was nuts last summer. It's nothing like that now.

For the other statement I bolded - yes, yes and yes. I've said those words on this board many times, but got lambasted by the "this will never slow down" contingent. [/quote]

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