My family of 6 is having this same problem in Illinois. We are to the point that we've been told we need to make an offer without contingency. Our contingency is selling our current house. Rental market for a family this size is almost impossible. We've been pretty much told we have to go homeless (sell our house) to have a chance at a seller accepting an offer. We've had 2, 15k over asking, rejected already. It's so disheartening.
My husband and I are first-time homebuyers with great credit and a pre-approval for a great conventional loan. We put in an offer on our dream house in the Southampton neighborhood of STL this February, $30k over asking price, and we still lost out to another buyer who offered all cash. We assume it was an investor. So discouraging.
It is actually cause inventory. Builders can't meet demand because the amount of time that it takes for suppliers to produce supplies. This happens with everything, especially right now.Shortages with high demand equals higher prices. Food is going the same way, used vehicl (due to chip shortage), lumber due to covid and production shortage. It's happening on everything right now.
Doesn't help that land is overwhelmingly zoned for single family housing, preventing more efficient land use and forcing expansive and expensive sprawl
I admire you sir. Where the real estate business has gone is obscene! I have been priced out of my own area as well. I think your Beloved Streets of America is an incredible idea. I grew up in North County and love your efforts to revive it. You should go on Kelly Clarkson show with your plan. I hope you find your dream home without having to bid! The American dream should not be a nightmare.
I don't believe its just real estate investors. For a real estate investor to make money, they typically need to buy below market value. If the numbers don't make sense an investor typially won't buy. Its all these crazy homeowners offering well over asking price and well over value thats causing this problem. I don't want to move so bad that I'm gonna pay 15k to 50k over what a house is worth. Most of those aren't investors because it wouldn't make sense. Those are people buying homes to live in.
That's BS. It's criminal. This needs to change. Need before greed
My family of 6 is having this same problem in Illinois. We are to the point that we've been told we need to make an offer without contingency. Our contingency is selling our current house. Rental market for a family this size is almost impossible. We've been pretty much told we have to go homeless (sell our house) to have a chance at a seller accepting an offer. We've had 2, 15k over asking, rejected already. It's so disheartening.
My husband and I are first-time homebuyers with great credit and a pre-approval for a great conventional loan. We put in an offer on our dream house in the Southampton neighborhood of STL this February, $30k over asking price, and we still lost out to another buyer who offered all cash. We assume it was an investor. So discouraging.
Land Value Tax would solve this.
It is actually cause inventory. Builders can't meet demand because the amount of time that it takes for suppliers to produce supplies. This happens with everything, especially right now.Shortages with high demand equals higher prices. Food is going the same way, used vehicl (due to chip shortage), lumber due to covid and production shortage. It's happening on everything right now.
Doesn't help that land is overwhelmingly zoned for single family housing, preventing more efficient land use and forcing expansive and expensive sprawl
Eh. Large companies are making killings on buying homes and re selling them hide prices…
I admire you sir. Where the real estate business has gone is obscene! I have been priced out of my own area as well. I think your Beloved Streets of America is an incredible idea. I grew up in North County and love your efforts to revive it. You should go on Kelly Clarkson show with your plan. I hope you find your dream home without having to bid! The American dream should not be a nightmare.
Both the man and lady are making Masonic hand signals. They took a deadly, demonic oath.
Good for him . Don't lose hope, get asking etc. For ' the American dream'.
The Great Reset - You will own nothing and be happy.
Blackrock.... buying out homes to rent them to you
What is the "American dream" worth anymore anyway?. It's an entire world out there don't limit yourself.
Real estate companies should be banned
Look at my old house the blue make me cry I miss daddy
Anit no offers in college hilll community
I don't believe its just real estate investors. For a real estate investor to make money, they typically need to buy below market value. If the numbers don't make sense an investor typially won't buy. Its all these crazy homeowners offering well over asking price and well over value thats causing this problem. I don't want to move so bad that I'm gonna pay 15k to 50k over what a house is worth. Most of those aren't investors because it wouldn't make sense. Those are people buying homes to live in.
No the shortage is coming from people buying homes to rent out the
how his name is White and he is black ?
Why is your name snow lmao