(06-19-2021, 09:38 AM)Lucky2Last Wrote: I think the housing problem is also due, in part, to an artificially low supply of housing coming available. I think there are 3 million homes delinquent on their mortgages, which means many homes will be up for foreclosure. That just hasn't happened yet, because the COVID laws don't end until the end of this month (that's from memory, so take those numbers with a grain of salt). I'm really curious to see if the government is going to keep kicking that can down the road. If not, what is that influx of homes going to do to the housing market? I feel like everything being done by the government right now is just to keep people oblivious to the crash that's coming so politicians can stay in power.

Regarding the part in bold, that's a small part of it.  The bigger issue is the supply chain for building new homes.  With lumber (as far as other materials) prices up so high new homes are far more expensive.  The demand for homes is so high that it's driven up prices.  I'm getting ready to sell our current home and current estimates are that I can sell it for almost double what I feel that it's worth.  It's a great time right now for anyone selling.

I don't think that the bubble bursting will be as bad as in 2008.  As far as I know (and I could be wrong about this) banks aren't handing out sub-prime loans like they were doing back then.

What I don't understand sometimes is the number of new home developments that I see building $200,000+ and in some cases $300,000+ homes right next to each other on "postage stamp" sized lots.  The "back yards" of some of these places are smaller than my living room.  I'm guessing that the appeal for something like that is geared more towards those moving down here "from the city".

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