Is the housing market broken for buyers in the United States?…166

#homebuyer #realestate #realestateagent

Deerwood Realty and Friends Podcast

I work as a real estate agent in St. Louis, Missouri. This is what I’ve seen with my own eyes in the past few years. Is the housing market broken?

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I don't want to be an alarmist. Maybe things in the housing market are just fine. Something just seems wrong to me though. When you go to make an offer and there's already 10-20 offers, it's madness. These are likely all over asking price offers too. People keep writing that the market is great..and it is for sellers...but at the same time, those sellers who are "moving up" to bigger homes are probably not getting the value they would have 2 or 3 years ago. And there are so many buyers! Is this a structural change in the market? Or, are we getting closer to a shift in the marketplace? I don't know. I just know that it is somewhat terrible to show houses to buyers where they have little chance to actually buy the house without paying tens of thousands over the asking price. Seems wrong.

What do you think.

https://www.bloomberg.com/news/articles/2022-03-04/what-s-the-average-mortgage-payment-monthly-cost-hits-record-for-30-year-loan

https://www.mikedp.com/articles/2022/2/23/ibuyer-sales-to-investors-soar

https://www.mikedp.com/articles/2022/3/14/big-tech-coming-after-agent-commissions-in-a-big-way

https://www.cnet.com/tech/better-com-lays-off-3000-more-employees-after-firing-900-over-zoom/

https://www.cnet.com/tech/better-com-lays-off-3000-more-employees-after-firing-900-over-zoom/