Think I mentioned last week that my brother came up for a 3 day weekend. Has Parkinson's and is moving to the Palm Springs area of Calif from Atlanta. Put his house on the market last Thur. By the time he got back home Tuesday he had (I think) nine offers....and his house wasn't cheap. All were cash except one. And I believe he said that every offer was from someone moving from New York to Atlanta.
I've seen where the existing home sales market has dropped the last two months. With gas prices (they have bumped back up to $4/gal around here from 3.75), overall inflation (getting even worse), housing/rent cost going higher and higher.....I wonder how much longer things like my bro's house sale can continue. Sooner or later people will/have to cut back (way back) on their spending.
Interest rate spike is leading to a burst of “oh no! We better do it now!” buyers.
That layer likely gobbles up housing between now and Memorial Day.
Things likely to calm down in the summer, as inflation continues to hit harder, and interest rates continue to spike.
This fall, kids will return to school, and Americans will return from summer vacation to a further dilapidated and divided America.
Things will be bad. The elections will serve as a distraction, but they won’t fix much of anything right away.
States with newly elected R governors will work to addresss what they can on the local/state level. Those with R legislatures will be the most successful.
The D/Biden admin will continue to ruthlessly oppress Americans and veto any worthwhile bill passed by Congress.
Early in ‘23, Trump and a few other Rs will announce their candidacy for President.
This, too, will serve as a distraction for many from the struggles both here and abroad.
Buckle up.