It all depends on location and demographics. So Calif sucks politically but the homes sell like hot cakes and at exorbitant prices. A 1000 sq foot box 2Bdrm 1 Ba in the ghetto of south central Los angeles sells for $700,000. Go to andecent suburb like Pasadena, Glendale or Arcadia and thr same house goes for $2 million.
Wealthy Chinese and Middle Eastern buy homes in calif in an instant.
I wonder if the fed refusing to slash interest rates also play into this issue.
As Henry pointed out , I agree it depends on location. In Arkansas the housing market has gone sky high. Part of the issue is people fleeing their blue states. Those who work from home have the ability to move around and this out market raised. The problem is those who make wages here can not afford those prices.
It all depends on location and demographics. So Calif sucks politically but the homes sell like hot cakes and at exorbitant prices. A 1000 sq foot box 2Bdrm 1 Ba in the ghetto of south central Los angeles sells for $700,000. Go to andecent suburb like Pasadena, Glendale or Arcadia and thr same house goes for $2 million.
Wealthy Chinese and Middle Eastern buy homes in calif in an instant.
I wonder if the fed refusing to slash interest rates also play into this issue.
As Henry pointed out , I agree it depends on location. In Arkansas the housing market has gone sky high. Part of the issue is people fleeing their blue states. Those who work from home have the ability to move around and this out market raised. The problem is those who make wages here can not afford those prices.