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New Keep an eye on CalculatedRisk.
https://www.calculatedriskblog.com/

He watches housing and interest rates very carefully.

There's so much money on the sidelines, and Yellen and Powell are (finally) serious about normal people benefitting from economic growth, that it's hard for me to imagine interest rates going up much (though going from 2% to 3% (or whatever) is a big change). They're not going to choke-off the recovery.

Housing prices going up now is a bigger concern.

It's hard to know what will happen when/if the eviction moratorium ends. We're not out of the woods on COVID yet, and people in charge aren't going to want 10M people suddenly homeless...

Investors have been buying single-family homes for a long time. It was part of the AirB&B craze for a while, I think. You're right that inventory is a problem in a lot of places. Someone made a point that that part of the problem - investors buying homes and taking them off the market as rentals, waiting to flip them, etc., - could be fixed easily by imposing a non-occupancy tax. Something like that may have to be done, at least in some markets. And things would change quickly after that happened.

Otherwise: location, location, location. Don't expect to make money - historically housing goes up around 2% a year, but with luck you won't lose your shirt. And peace of mind, not having crappy upstairs neighbors, etc., is worth a lot.

Good luck!

Cheers,
Scott.
New Fully agree with last paragraph.
Houses as a wealth building investment no longer works like it used to.
Alex

"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."

-- Isaac Asimov
New tell me about it sat on 150k for 11 years and made $800
just glad i didnt lose big
"Science is the belief in the ignorance of the experts" – Richard Feynman
     Need a house, trying to time it - (crazy) - (12)
         By the way, this is what I predicted for the internet many years ago - (crazy)
         5 acres 3 mobile homes done :-) -NT - (boxley) - (1)
             Absolutely consideration - (crazy)
         Keep an eye on CalculatedRisk. - (Another Scott) - (2)
             Fully agree with last paragraph. - (a6l6e6x) - (1)
                 tell me about it sat on 150k for 11 years and made $800 - (boxley)
         It's happening now - (crazy) - (4)
             In our neighborhood... - (InThane) - (3)
                 What's an entry level cost around you? -NT - (crazy) - (2)
                     Re: What's an entry level cost around you? - (InThane) - (1)
                         make me glad I live in the swamp -NT - (boxley)
         Seems you get to wait your turn for yet another decade or two: - (CRConrad)

It's the same snivelling little rodent as it always was.
118 ms