Home prices continuing Up up up

[leroy]

Zillow is a full-blown housing market bull—predicting that U.S. home prices will jump 6.5% by July 2024

Zillow: "Limited for-sale inventory continues to push home prices upward even as mortgage rates remain elevated."

fortune.com

 

[sinclair1]

Zillow is a full-blown housing market bull—predicting that U.S. home prices will jump 6.5% by July 2024

Zillow: "Limited for-sale inventory continues to push home prices upward even as mortgage rates remain elevated."

fortune.com

We went down briefly this year and now it’s headed back up. The market must know the PF is closed or would certainly have bottomed out

 

[Buford_Dawg]

Great for selling, terrible for buying or building... Hate it for young people like my son's. Gonna be hard pressed to get into homeownership anytime soon.

 

[ClemsonRangers]

i have a one acre lot in the upstate fella offered $70000, think he wants to build three houses on it

 

[fflintlock]

i have a one acre lot in the upstate fella offered $70000, think he wants to build three houses on it

Ought'a be worth 3 times as much then...

 

[SarahFair]

Great for selling, terrible for buying or building... Hate it for young people like my son's. Gonna be hard pressed to get into homeownership anytime soon.

Yup, my son turns 18 real soon, he's not in a hurry to move out and we aren't pushing him as long as hes saving and investing, but he does not even know how it'll be possible to buy even in a few years.

 

[ryanh487]

I'm going to sell my house, use the equity to buy land, buy a nice camper and live on the land with it with no bills until I save up enough to build a barndominium. This housing market sucks.

 

[livinoutdoors]

Zillow has long been know for its accuracy when it comes to pricing and markets.

 

[livinoutdoors]

Two choices in the long term.
Affordability returns to the market and home values line up with salaries and Americans continue with home and land ownership. Or,
Prices continue and only a few wealthy people, a small percentage of the population control land and property and we become Europe.

 

[westcobbdog]

Market is tough, but for the record zillow is reactionary, not on the cutting edge. That silly zillestimate declaring what one's house is worth is garbage.
Even the Zillow owner sold his mansion in CA., and it sold for 72% of the dumb estimate. Get info from an agent in the trenches, not these fools...Zillow not accurate with much of the spew they broadcast

 

[westcobbdog]

Zillow has long been know for its accuracy when it comes to pricing and markets.

Hahahahaha

 

[ddgarcia]

Great for selling, terrible for buying or building

That doesn't make sense. With inventory supposedly low and prices "higher than ever", builders SHOULD be building like crazy trying to fill the gap and capitalize on the high prices, but apparently they're not.

Some anecdotal evidence to support. we are currently having timber cut on some land we own and I was literally just there 2hrs ago checking on it. Talked to the crew lead and he tells me that it is going to take longer than expected to finish as the company is limited on the number of loads per day that the mills are taking. He told me that Madison has limited them to 4 loads a day and that Augusta is limiting them to 2. That's company wide, not just our tract. He said the only thing/place that is still currently unrestricted is Hardwood Logs.

Now some may think this is just a "negotiating tactic" but we have a contract with prices already set, so it makes no difference to us.

 

[MudDucker]

Zillow has long been know for its accuracy when it comes to pricing and markets.

No sir. Zillow went into the business of buying properties based on their projected value, but lost so much money, they had to get out of that.

 

[livinoutdoors]

No sir. Zillow went into the business of buying properties based on their projected value, but lost so much money, they had to get out of that.

It were a joke
Im not sure zillow could even get the price of a $5 bill right.

 

[antharper]

I'm going to sell my house, use the equity to buy land, buy a nice camper and live on the land with it with no bills until I save up enough to build a barndominium. This housing market sucks.

I’ve been strongly considering this myself .

 

[kmckinnie]

I’ve been strongly considering this myself .

#me2

 

[kmckinnie]

I’ve been strongly considering this myself .

#me2

 

[sinclair1]

That doesn't make sense. With inventory supposedly low and prices "higher than ever", builders SHOULD be building like crazy trying to fill the gap and capitalize on the high prices, but apparently they're not.

Some anecdotal evidence to support. we are currently having timber cut on some land we own and I was literally just there 2hrs ago checking on it. Talked to the crew lead and he tells me that it is going to take longer than expected to finish as the company is limited on the number of loads per day that the mills are taking. He told me that Madison has limited them to 4 loads a day and that Augusta is limiting them to 2. That's company wide, not just our tract. He said the only thing/place that is still currently unrestricted is Hardwood Logs.

Now some may think this is just a "negotiating tactic" but we have a contract with prices already set, so it makes no difference to us.

Some markets are in a concrete shortage to pour the slabs. They have the work but can’t start.
Here in the ga coast there are so many new warehouses causing the shortage

 

[pjciii]

i have a one acre lot in the upstate fella offered $70000, think he wants to build three houses on it

Is it zoned for 3 homes. That is a tremendous amount for 1 acre. I thought most places have a minimum lot size.

 

[LTZ25]

It were a joke
Im not sure zillow could even get the price of a $5 bill right.

Two dollars is about wright .