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Real Estate
Reply to "Remember all the dorks spamming last year real estate was going to crash?"
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[quote=Anonymous][quote=Anonymous]We have family in California, blocks from the beach. Put their house on the market for $1.55M. Good public schools, lots of families dying to get into that neighborhood. It's like a picture postcard of the California lifestyle. What happens? Bidding war with 5 offers. Two full offers for cash. Three with financing that trigger escalation clauses. Winning bidder? $1.665M, with $1m downpayment. Two Boomer lawyers who already live nearby who, quote, [b]"want another house near the beach so their friends and family can stay in during the holidays."[/b] That's who are buying all these homes at crazy prices when mortgages are 7%+. No way in hell the Fed is cutting rates in 2024. Lots of slop still in the system. [/quote] :roll: Translation: Greedy parasite lawyers moonlight as airbnb / landlords.[/quote]
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