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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: ajtj99 who wrote (60874)5/24/2022 11:50:33 AM
From: Lee Lichterman III3 Recommendations

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ajtj99
Clam digger
kimberley

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Housing is so regional. I saw a report a week or so ago about the average home price being almost half a million. Here in flyover country, you could get a palace for that. Same when they talk about homes selling for over asking price, giant price appreciation etc. All that is coastal silliness. Here prices go up and down in comparison to price to build economic supply/demand. It's generally fairly steady.
If prices shot up like on the coasts, people here would just stop buying. I saw that when the Californians came out here with money burning a hole in their pockets. They bid stuff up for a year or so then prices collapsed because no locals were willing to pay those prices. They just built new for cheaper. Neighbor behind my house in the city was stuck in his house for years. He wanted to move but couldn't get half of what he paid when he came here from Cali. He finally sold last year after trying for 7-8 years and settled for a loss.
We have plenty of land here so it isn't hard to buy a plot or a few acres and build.
We're just more frugal here.
We have some friends out here in the country place that are from California. My other neighbors and I buy used everything from auctions and what not. We only buy what we "need" and very few "wants". Maybe a boat or something. The Cali transplant bought a ranch out here and has all brand new tractors, trailers, skid steer, quads, UTV etc. Then he complains wondering how these guys out here make any money ranching. LOL
Must be something in the water. LOL
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