Cost has little to do with price.

Apr 9, 2021
12:58:40am

ToasterChive All-American

Willingness to pay is being driven by stupid low mortgage rates. Elevated willingness to pay is elevating home prices.

The demand for building materials has driven up cost of materials.

This message has been modified

Originally posted on Apr 9, 2021 at 12:58:40am

Message modified by ToasterChive on Apr 9, 2021 at 1:00:38am

Message modified by ToasterChive on Apr 9, 2021 at 1:02:38am

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ToasterChive

Previous username: Chicarl
Bio page: ToasterChive
Joined: Sep 3, 2010
Last login: May 7, 2024
Total posts: 22,071 (418 FO)

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Messages

Author

Time

How much of the housing price boom is due to the foreclosure and eviction ban?

stenso

4/8/21 11:04pm

4million homes in forbearance

Nat Gas Man

4/8/21 11:09pm

I think that number is a little inflated.

CougCoug3

4/8/21 11:10pm

It's very inflated. The vast majority of those just took advantage of it.

breakingblue

4/9/21 12:00am

This is probably true. But if they are unemployed they will not

Nat Gas Man

4/9/21 10:59am

In most areas homeowners have equity, they're not going to let their homes go

BYUFBDAD

4/9/21 11:20am

It’s also inflated because the government is mandating that they can have a

cougarfann888

4/9/21 11:41am

I think a large portion of the inventory shortage is also sellers that don't

BYUFBDAD

4/8/21 11:09pm

I know several people that want to sell, but there’s nothing to buy

JOPE

4/8/21 11:12pm

I also know a family that cashed out last year because they thought the market was nearing the top

JOPE

4/8/21 11:15pm

There’s a senior missionary couple serving in my ward

cougarfann888

4/8/21 11:24pm

Prices aren't going to go down. The cost to build is out of control.

breakingblue

4/9/21 12:01am

Cost has little to do with price.

ToasterChive

4/9/21 12:58am

Expensive lumber limits new housing supply which raises the price

novacoug1

4/9/21 6:13am

But that won't last

IrishBlue

4/9/21 7:39am

There’s a difference between expensive lumber and a scarcity of lumber.

ToasterChive

4/10/21 10:58pm

You have foreclosures and sales to prevent default. . .

CosmoK

4/9/21 12:07am

Good point. There is still a moratorium on evictions right now for the past year

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