Artificially is probably the wrong word and undervalued is more appropriate. I bought my first place (4BR 1600 sq ft townhouse)in 1997 with either 5% or 10% down (honestly cant remember). It was less than 20K down and that was not difficult to come by. My PITI were about rent value and it was a slam dunk with the tax benefits. I remember looking at run down shacks a block from Moonlight Beach for under 300K and they seemed like a steal. I didnt want to raise a family there so I didnt buy one.
There may have been flippers in O’side in 1997 and 1998 which wouldnt surprise me given all the VA loans going bad and turning into HUD homes. There werent flippers to any extent around here which is what we were talking about on this thread.
