Where is the housing inventory? Lack of housing inventory continues to plague real estate market.
ByReal estate inventory is extremely low in this current market. This has allowed the market to put upward pressure on prices even though sales volume is low. The idea of real estate correcting has once again been washed away from the cultural psychology. Home prices, the media, and house horny shoppers have once again turned real estate into a no lose proposition. Seems to make sense when you look at current home prices. But then you look at the crap shacks you can buy and realize you are on the hook for 30 years with a heavy mortgage around your neck. When markets get feverish you start seeing flowery language on listings on otherwise crappy properties. $700,000 shacks that would sell for $20,000 in Detroit. It is one thing to purchase a nice home for a hefty price but to be convinced that you have to buy a beat up fixer upper for a ridiculous price is a symptom of a distorted market. All you need to do is look at current market inventory….
Where is the housing inventory? Lack of housing inventory continues to plague real estate market.
