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Real Estate
Reply to "I think the bubble is popping."
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[quote=Anonymous]Idk if this thread is full of realtors or just folks that are kind of dim. An individual house going for some absurd amount over asking isn’t indicative of anything other than it being improperly priced to begin with. You can look up the average amount over list places in a particular area. In Chevy Chase, DC that percent is 9%. So most people are not going to get 300k over asking. Besides that the biggest jump in price appreciation has been on the lower end of the market as people whereas in nicer areas prices have increased more modestly. There probably isn’t a bubble (although as someone who spent a lot of money to be close in I do hope telework doesn’t hurt me) but I think that people need to be cautious about buying someplace crappy with no contingencies because they have been whipped up into severe fomo. [/quote]
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