- Joined
- Dec 8, 2017
- Messages
- 8,180
I am wondering what property values are doing across the country. In my little mostly rural neck of the woods, things are going for crazy high prices right now. I saw a parcel just go up for 4 times the assessed value. It has only been on the market for a week and I think the owner already has an offer. It's only a very small parcel (about an acre) wedged between two other homes that will be difficult (although not impossible) to put a driveway in. It seems like people are coming out of the woodwork buying up all the rural property they can find at ridiculously high prices. In addition, with the increased cost of builing materials and shortage of workers, how the heck are these folks planning on builing on this overpriced property?
I'm hoping this crazy bubble bursts quickly! I'm wondering if folks with money are just buying up the property and homes b/c they think their money won't be worth anything with the inevitable inflation coming? Or, are all of the folks who now work from home deciding that getting out of the city and moving to a rural area is a good idea. Good Lord, I hope not!
How's it looking in your neck of the woods?
I'm hoping this crazy bubble bursts quickly! I'm wondering if folks with money are just buying up the property and homes b/c they think their money won't be worth anything with the inevitable inflation coming? Or, are all of the folks who now work from home deciding that getting out of the city and moving to a rural area is a good idea. Good Lord, I hope not!
How's it looking in your neck of the woods?