Mainly yes wages and houses that were 150k like 6 years ago now costing 500k is definitely a major issue, but I have heard that the interest rates are stopping people from selling because they can’t justify picking up a new much higher rate even if they wanted to downsize/move.
I think a lot of boomers might sell if the interest rate can go down, but who knows if that will actually affect prices… They might just pull some greedy b.s “I only sell at max price or hold it for the kids.”
Mainly yes wages and houses that were 150k like 6 years ago now costing 500k is definitely a major issue, but I have heard that the interest rates are stopping people from selling because they can’t justify picking up a new much higher rate even if they wanted to downsize/move.
I think a lot of boomers might sell if the interest rate can go down, but who knows if that will actually affect prices… They might just pull some greedy b.s “I only sell at max price or hold it for the kids.”
Pretty sure that’s what most people aim for.