Yes, I have heard all the same arguments about why SD will be stable from realtors.
But one thing that boggles me a bit is that if that were the case then the 1920’s house that took 90 years or so to get to 400k. In 4 years it hit 600k (minimal to no improvements also all loose estimates)but point is 200k in 4 years and 400k over 90 years. Well… that seems off. Maybe not. But from what I understand (and again don’t know) household income has not had even close to that sort of growth. If everyone was moving here and buying up the place and that is why it is what it is I feel there would be a different historical trend. Not everyone decided to move here in the last 4 years. But again maybe I just see what I want to see.
On the investor fleeing comment from what I see they are still in the game. At least where I am looking. I asked my realtor about a fixer house that just went on. Sold all cash in a few days. Think there is a dumpster outside now waiting for the demo to begin. And this house wasn’t a steal of a deal either. For an investor to make money at the price point they paid they are going to have to ask a sizable price even in this market.
