Quote:
Originally Posted by TboneS54
I'm trying to buy in Socal. It's definitely slowed down, with some mild price drops, but lack of inventory tells me it won't drop a whole lot more until there's a true recession (even then, who knows). We sold our primary home 6 months ago and did very well. We definitly did it before things started to cool. It feels, out here, like there are still enough people with all cash for prices to not fall too far. Luckily we can wait indefinitly, but I am jonesing for a 3 car garage. I'd hate to over pay and prices come down significantly in 2024. I'm all cash basically, so I don't care too much about rates. I'm making good return on my cash right now, so I'm just happy to wait till the right house/deal comes along I guess.
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Like I said above... if you are talking about over crowded areas where more and more people are just packing, I agree, don't see major price adjustments... however this just isn't true for a vast majority of the country.
Pockets of CA, South FL, NY / NJ metro will always be crowded... and maybe some of these nonsense areas like Denver / Austin that grow for no reason and there is tons of space to build so everyone is just getting artificially squeezed but those are already seeing major corrections... everywhere else however, it's almost impossible to go anywhere but down at this point.