Here in Wesley Chapel, FL homes are being sold sight-unseen to current residents of NY, NJ and PA. A few houses down from me had an open house on Saturday. By the evening he had 6! bids above the asking price and sold that day. It’s the work from home/zoom effect. And no income tax.
Yeah, you might be able to “score” during a strong seller’s market, but don’t forget that you’ll have to find a new home – and that strong seller’s market will then be expensive for you…
From Pittsburgh to Detroit and Phoenix, condos and townhouses within stumbling distance of bars and restaurants are hot. Like the families now upgrading to bigger suburban homes, young white-collar workers are taking advantage of record-low mortgage rates and flexible remote-work policies to move to desirable cities with relative affordability.
Home prices in urban U.S. markets rose 15% in the three months through late January, slightly ahead of the annual pace in suburbia, according to data from brokerage Redfin, based on geographic designations developed by the Census Bureau. It’s a shift from early in the pandemic, when prices were lagging behind outer areas or even falling, a sign that Covid-19 vaccines are helping to fuel demand as nightlife makes its return.
“People are anticipating that now is a great time to buy,” said Daryl Fairweather, chief economist at Redfin. “They’re not thinking about the short term. They’re looking forward to eating inside restaurants and going to concerts.”
Perhaps no part of the U.S. economy has been buoyed by the Federal Reserve’s easy-money policies more than housing, and with cities now joining the suburbs and exurbs in the boom, the impact on growth appears to be broadening. In some regions, urban areas are now substantially outperforming.
brwydave Premium Member about 3 years ago
Yeah, sell the house, count your profits, then where are ya goin’ to live?
We has seen the enemy about 3 years ago
Here in Wesley Chapel, FL homes are being sold sight-unseen to current residents of NY, NJ and PA. A few houses down from me had an open house on Saturday. By the evening he had 6! bids above the asking price and sold that day. It’s the work from home/zoom effect. And no income tax.
oldlegodad71 Premium Member about 3 years ago
Better have another one lined up, or you’ll be one of the ones out front.
ferddo about 3 years ago
Yeah, you might be able to “score” during a strong seller’s market, but don’t forget that you’ll have to find a new home – and that strong seller’s market will then be expensive for you…
tabby about 3 years ago
Looks like Denver.
The Love of Money is . . . about 3 years ago
Just put a “SOLD” sign in the front yard . . .
briangj2 about 3 years ago
From Pittsburgh to Detroit and Phoenix, condos and townhouses within stumbling distance of bars and restaurants are hot. Like the families now upgrading to bigger suburban homes, young white-collar workers are taking advantage of record-low mortgage rates and flexible remote-work policies to move to desirable cities with relative affordability.
Home prices in urban U.S. markets rose 15% in the three months through late January, slightly ahead of the annual pace in suburbia, according to data from brokerage Redfin, based on geographic designations developed by the Census Bureau. It’s a shift from early in the pandemic, when prices were lagging behind outer areas or even falling, a sign that Covid-19 vaccines are helping to fuel demand as nightlife makes its return.
“People are anticipating that now is a great time to buy,” said Daryl Fairweather, chief economist at Redfin. “They’re not thinking about the short term. They’re looking forward to eating inside restaurants and going to concerts.”
Perhaps no part of the U.S. economy has been buoyed by the Federal Reserve’s easy-money policies more than housing, and with cities now joining the suburbs and exurbs in the boom, the impact on growth appears to be broadening. In some regions, urban areas are now substantially outperforming.
https://www.bloomberg.com/news/articles/2021-02-09/housing-boom-sweeps-u-s-cities-that-aren-t-nyc-san-francisco
pamela welch Premium Member about 3 years ago
Tabby stole my line; I was about to say: Looks like Denver. And it’s like that in Colo Springs and Pueblo too. Terrifying.