Read Millionaire Fastlane
I've Read UNSCRIPTED
- Jul 23, 2007
What we're seeing with real estate values is purely a supply issue...
IMO, that's a big contributor (as well as low interest rates) but not the driving factor.
Labor and material costs are through the roof. I'm trying to build a custom home in Sedona (all while trying to buy RE out-of-state - what a shitshow) and the price to build have gone up nearly 400,000 since we started the project. My floor plan hasn't changed in those 10 months. So to your point, not only is the supply short in existing inventory, but supply is short all through the material supply chain, including the labor.
Talking about inflation... Im in Idaho, probably the gnarliest housing market in the country.
I almost bought this POS warehouse for 3M last year, owner got called feet... Sold it 1 day on market this past week for 4M... 3m was absolutely batshit
The house I bought last March for 230 I could sell tomorrow for 530.
Houses go 50-100k over asking with 10+ offers within the first week here. Im not exaggerating.
Own assets.... businesses, crypto, real estate, stocks. Cash is literally 50% more worthless than it was a year ago
But the Federal Reserve disagrees with you!
As does all those articles on CNBC!
Why do you believe the data that's right in front of your eyes? Don't you know thinking for yourself is dangerous?
Just because a 2X4 from Home Depot now costs $6.94 when it cost $2.84 just a few years ago doesn't mean inflation is 244%. LOL, according to gangsters in Jackson Hole, it's only 1.5%.
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