Ask Yourself, Where Do You Want to Be When Our Housing Shortage Problem is All Over The News Again?
NOTE: SCROLL DOWN FOR A LIST OF SUGGESTED ARTICLES TO READ ON THIS TOPIC.
A few thoughts to consider as we start to see the first signs of interest rates leveling off due to the federal reserve’s actions to get control of inflation.
The supply of housing in the Portland metropolitan area is still extremely low at 2.5 months of inventory. This is the very problem that caused the wild over-price bidding wars that made our market crazy over the past couple of years. In short, we have a supply issue that has not yet been solved. Adding to the problem,?builders have halted production and new housing starts have been put on hold. Sellers are not willing to list their home for sale and trade their 3 to 4% interest rate for a much higher one….The problem is not going away anytime soon. One can speculate that as things progress and interest rates reach their peak / turn to come back down, the demand from buyers is likely to pick back up highlighting the low inventory problem all over again.
"Don’t take my word for it, read the following (scroll down) supporting articles and put the pieces together for yourself."
The good news is that the competitive demand
Sitting on your hands and watching the market and waiting for interest rates to improve is likely going to get you back into the market right when?all of the other buyers come?back to the market. At that time bidding over asking
Don’t take my word for it, read the following supporting articles and put the pieces together for yourself:
领英推荐
_________________
Todd Gydesen, Mortgage Broker NMLS # 89835
Vantage Mortgage Group, Inc. DBA Vantage Mortgage Brokers | OR & WA State Licensed??
Accounts Payable Supervisor at Leatherman Tool Group, Inc.
2 年Thanks for the insight, Todd!