[quote=AN][quote=flu][quote=The-Shoveler]There is a lot more worry on why we are NOT building enough homes, than there is on prices being too high.
That is where the pressure will be applied IMO (generating more home building) and how to get it going.[/quote]
Just this weekend there was this home we were entertaining in my area. 1 day after open house, 4 offers with 24hrs and no backups accepted.[/quote]
A couple of months ago, I was considering this house in my hood. They didn’t even host an open house yet, we saw it w/in a few days of it hitting the market and it already have an offer with no appraisal contingency. End up selling for ~10% above ask price.[/quote]
It’s not even summertime yet!!!! I guess in order for me to figure out what it will take for re prices to settle down, I am trying to understand what it took for Vancouver BC real estate prices to settle down as a worst case scenario. So far it seems like Vancouver BC is still crazy. That’s why maybe now is the time to gsmblr a bit. At least in my neck of the woods.
I was actually surprised by the 1 in 3 stats. I didn’t think it was anywhere near that so soon.
