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Is the market dead for now?

We have a new condo being built, and our home went on the market last week. The first week we had multiple showings daily. Our realtor thought we'd have an offer on the weekend, and then the person/couple abruptly pulled back from buying a house now. There is another couple who are interested, but otherwise, the market seems to have gone dead. In fairness, the state is pretty well shut down, although our realtor says houses are still being listed and going to pending status. Our Midwest area has been a seller's market for a while. My concern is owning two houses (via a bridge loan) in this economy, which I am presuming will only worsen for a while. Is anyone seeing market action near them continue?

Comments (479)

  • bry911
    2 years ago
    last modified: 2 years ago

    I didn't accuse you of the Dunning-Kruger effect, although we all have it and so yes you and I both suffer from it, I accused the general population of listening to politicians over epidemiologists.

    I am very aware of my limitations that is why I link sources and data. However, there is a difference between knowing/researching a lot and believing yourself an expert. Which one of us has just been talking without support?

    ---

    There is a subtle but important difference between being a know it all (which I am) and the Dunning-Kruger effect. A researched opinion is by definition not Dunning-Kruger.

    ETA: just to be clear, believing a politician is not Dunning-Kruger, being a politician and believing that qualifies you to discount epidemiologists is...

  • ncrealestateguy
    2 years ago

    I did indeed give you my source of the declining hospitalizations and the declining death rate over the last 10 weeks as the CDC. You just elected to not respond to those facts when citing your OPINION that we have not reached the other side. Maybe we have or maybe we have not, but my example is a fact straight from the CDC website.

    BTW, those same doctors and epidemiologists and politicians spoke on TV shows and spewed nonsense for two months urging Americans to not wear masks because masks, according to them, did not reduce the chance of transmission. I wore mine anyhow, because I am smarter than that. And I think most Americans are too. So, is it any wonder that people like myself question everything we hear coming from the "experts"?

    Those same "experts" also said that we should expect 2.2 million deaths if we don't 100% practice social distancing and shut the economy totally down. We did not do neither, and we are nowhere close to those numbers.

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  • Stax
    2 years ago

    "A researched opinion is by definition not Dunning-Kruger."

    It is when the poster is the one that decides if his opinion is "researched."

  • Louise Smith
    2 years ago

    This should now be closed or moved to Hot Topics. Remember, this was about Building A Home and Buying and Selling A Home.

  • bry911
    2 years ago
    last modified: 2 years ago

    I did indeed give you my source of the declining hospitalizations and the declining death rate over the last 10 weeks as the CDC. You just elected to not respond to those facts when citing your OPINION that we have not reached the other side. Maybe we have or maybe we have not, but my example is a fact straight from the CDC website.

    You can't change the meaning of words... Because we are better at treating a disease doesn't mean we reached the other side. We are better at treating cancer and heart disease also, does that mean we have reached the other side of those diseases?

    BTW, those same doctors and epidemiologists and politicians spoke on TV shows and spewed nonsense for two months urging Americans to not wear masks because masks, according to them, did not reduce the chance of transmission. I wore mine anyhow, because I am smarter than that. And I think most Americans are too. So, is it any wonder that people like myself question everything we hear coming from the "experts"?

    Those same "experts" also said that we should expect 2.2 million deaths if we don't 100% practice social distancing and shut the economy totally down. We did not do neither, and we are nowhere close to those numbers.

    For those interested this is a great example of the Dunning-Kruger effect... If you are keeping score, yes... now I am accusing you of the Dunning-Kruger effect.

    First, being wrong is not evidence of a lack of expertise, early predictions are predicated on available information and that may be bad. Being right doesn't make you an expert and it doesn't mean they are not. You are enjoying the benefit of a binary position of right and wrong rather than trying to use the evidence and assumptions to analyze. You are always going to win that, I mean every single time!

    Next, can you please link this source for, "those same doctors and epidemiologists and politicians spoke on TV shows and spewed nonsense for two months urging Americans to not wear masks because masks, according to them, did not reduce the chance of transmission." Your quoted text does not match my understanding of the recommendation. I remember being told that masks were a transmission interrupter and not a reception interrupter. In my area, we were told that masks insufficient to prevent viral infection once you were exposed but were effective at limiting exposure of others when worn by COVID-19 positive individuals. Which is still true today.

    So that brings into question the efficacy of your mask wearing... Were you Covid-19 positive? If you were then your early wearing of a mask was positively brilliant, however, if not then it did little to protect you from the person who was positive and refused to wear a mask, even if they were pre-symptomatic.


    It is when the poster is the one that decides if his opinion is "researched."

    Still no... Semantics and all... You don't get to change the meaning of things when you decide it works best for you.

  • Stax
    2 years ago
    last modified: 2 years ago

    "t is when the poster is the one that decides if his opinion is "researched."

    Still no... Semantics and all... You don't get to change the meaning of things when you decide it works best for you."

    YOU decide that your "research" is "correct" and thus fail to recognize your lack of ability. Half of what you post is not correct and you repeatedly beat down and belittle anyone that challenge you or point out your absurdities.

  • Stax
    2 years ago

    Ridiculous argument? Glad that you have identified the person that is knowledgeable enough to classify an argument as ridiculous... lol

  • ncrealestateguy
    2 years ago

    I will not post links to prove that medical professionals, over and over, told us to not wear masks. I heard it many times on TV.

  • bry911
    2 years ago
    last modified: 2 years ago

    If you actually want a real discussion on Dunning-Kruger, let's just have it...

    I am an economists with a degree in applied statistics, now to be fair my statistics degree was a freebie when I was getting my PhD. Now my actual degree is in accounting but the lines at certain points blur a lot as my research focuses on capital market analysis and capital project efficiency. In other words I look at how efficient companies are at using capital to generate returns when making capital project decisions. Since capital markets fund both capital projects and housing projects there is some significant overlap.

    If we look back over the comments I have made about the housing market they are all coming from a position of a very solid understanding of the forces that drive the housing market and prior experience working with REIT's. I was wrong about the housing market thus far, but I qualified my thoughts from the beginning. I did so because I understand the thousands of assumptions that I was making about the market for me to be correct. I still believe that time will eventually lead to declining home prices and more stagnation in the housing market, as I see few paths where this massive economic interruption will not change things in the housing market.

    You, on the other hand, have been using mostly anecdotal information to argue that I am not correct. If you read back to the earlier portion you certainly did your share of repeatedly beating down anyone who challenged your opinion. You have no expertise in this area, I am certain of that because you would not link newspaper articles written by reporters without any real expertise to support your position if you had expertise yourself. You simply didn't want to believe me and my well reasoned support for my theory. That is very near the thing you now claim I am doing. Please note, that I am not claiming that expertise means that I am correct, or that you should defer to my position, I am just asserting that I understand the complications in the market and making predictions. This is very different than explaining something that happened in the past where there are fewer assumptions.

    You are describing my discussion on the virus as Dunning-Kruger because according to you I am wrong and overestimate my ability to tell between correct and incorrect, but my discussions are based on an interpretation of statistics and not the behavior of the virus (which I am well qualified to discuss). I linked the data to counter the position that Americans overreacted to this virus, the charts are solid evidence of a slow American reaction. This is not something that should be debatable really, you might argue that our underreaction worked out for the best, but you can't really argue that we overreacted compared to Europeans when we underreacted compared to Europeans (which was the statement I was countering). This isn't a prediction, this is hard data that counters that argument. So again, if NC wants to argue that our underreaction had a silver lining, in that it all worked out for the best, then so be it. However, he can't argue that we overreacted compared to Europe when we obviously didn't. This should not be debatable but apparently past events are now just as debatable as predictions.

  • PRO
    JudyG Designs
    2 years ago
    last modified: 2 years ago

    @justme( Zone6a)

    Addressing real estate: Yes, here on Cape Cod houses are selling like hot cakes. As David Carey said above, it depends on your location, but here big ticket boats, fishing gear and Inground pools, companies which can’t keep up with customer prosper Seems people want a get away, enjoy a sport with no need to mingle.

    Our beaches are patrolled; strict orders on social distancing are enforced. No problem: the great white and the seal are helping to keep the virus from spreading.







    Just me, If I can find an article about real estate in Chicago, I will link it. Capsule: folks are buying second homes far from busy cities. Somewhere safe to go and isolate should need arise.

    Addressing the virus: we await a vaccine. Only then wlll it be gone.

    https://www.livescience.com/41478-scariest-disease-outbreaks.html (2013)

    This article doesn’t even touch on scarlet fever, whooping cough, German measles, polio, and mumps.

    Were it not for vaccines, most of us would not be here to argue, sorry, debate.

  • Louise Smith
    2 years ago

    Housing Market

    The U.S. housing market is a major indicator of the strength of the economy. When the economy is strong and people are confident about the future, they are more inclined to buy houses, upgrade their current homes or buy larger houses. When they are more concerned about the economy, new home construction, remodeling, median prices and housing sales are all depressed. For years, real estate was considered a reliable way to increase personal wealth because the cost of property and housing consistently increased over time. However, the housing bubble of 2006 that led to a steep decline in housing prices was the primary cause of the Great Recession in the U.S., destroying the credit of millions of people who were suddenly underwater in their mortgages and impacting the housing market for the greater part of a decade. Government regulations have since tightened mortgage requirements for many buyers, and they have greatly impacted the subprime mortgage industry that collapsed during the Great Recession.

    https://www.usnews.com/topics/subjects/housing-market


    Is My Real Estate Agent Doing Enough to Sell My House?

    In a strong real estate market, even unseasoned real estate agents could sell a home for a good price. Many sellers hired their relative or a friend, and if the property was decently priced and photographed well, it sold itself.

    In a more challenging market, whether due to oversupply, lack of consumer confidence or a host of other reasons from tax code changes to interest rate fluctuations, it is important to hire an experienced, creative and enterprising real estate agent to sell what may be your largest asset.

    Once you decide to sell your home, choosing the right agent can be a tough decision. Not only do you want to hire someone you like and respect, but the agent needs to convince you that he or she is the right person for the job. Sometimes, we are taken with attractive marketing materials, plagued with guilt to hire an inexperienced friend or relative, swayed by a flashy suit and hairdo or seduced by an unrealistic asking price.

    [Read: How to Buy a House]

    So how do you know if your agent will do or is doing enough to sell your house? Here are four key areas you want to ask about when talking to a real estate agent:

    • Digital presence and making your home stand out.
    • Market knowledge that goes beyond data.
    • Property flaws and workarounds.
    • Ability to close the deal.

    Digital Presence and Making Your Home Stand Out

    In an age when people shop for everything online, digital presence is a big one. Did your agent hire a professional to take properly staged and well-lit photos of your home? Or did he or she come at night and take photos with a phone, catching the reflection of a shoulder in the mirror, overlooking exposed lamp wires or leaving the toilet seat up?

    In today’s market, the online listing is the first stop for every buyer, and many buyers will pass over a great home if the photos don’t present it properly.

    Not all homes lend themselves well to a video presentation, but many do. If your agent creates a video, is it just a montage of the photos with voice-over or captions? The video should add another dimension to attract buyers, ideally with high production value and some personality. If there are limitations with access to the home or if potential buyers do not live nearby, a virtual tour is a valuable tool.

    Although a slick video won’t sell the home, it will help with publicity and the buyers who do come will be more serious about your home. If your home hasn’t sold, make sure that your agent has not only exploited all digital marketing opportunities, but smartly positioned your home among its competitors.

    “An agent needs to have a decently sized online presence so that their listings come up in searches which might include keywords like ‘equestrian’ or ‘lakefront’ or ‘ski-in/ski-out’,” says Camille Duvall, vice president and managing broker of Sierra Sotheby's International Realty in the Lake Tahoe area of California. “Buyers are not just looking at the aggregators to find listings these days, they are looking for property-specific features.”

    [Read: 6 Things to Consider When Taking A Virtual Home Tour]

    Market Knowledge That Goes Beyond Data

    Data is important, and most agents have access to a ton of it, as do buyers and sellers. Various websites show supply and demand numbers over specific periods of time, based on price and neighborhood. But data and knowledge aren’t the same things. As important and relevant as data is, don’t let it become an obsessive pitfall, as it can be for many numbers-oriented clients, as well as for green agents. The numbers might not take into consideration the drawbacks of a specific block or the design flaws of a property, but an experienced agent should know how to overcome these challenges.

    “Don’t discount time behind the wheel, because an agent’s personal resources, network and time-tested know-how can make all the difference in the world, especially in a down market,” Duvall says. “If your agent doesn’t get on the phone, but conducts business solely by email and text, that’s not good.”

    She adds, “A phone call can go a very long way. They should know who sells in the area, and who might have your buyer. An inexperienced agent won’t have this network of industry colleagues with whom they have been making deals for years. A seasoned agent will also connect a client with the right attorney, escrow agent or lender to create a seamless team package, which is that much more important when banks tighten their standards.”

    Furthermore, an experienced pro brings years of knowledge from working through many different housing market peaks and troughs. They should be able to sell in a tough market, not just in the salad days when a home sells itself.

    Property Flaws and Workarounds

    It’s important to have a frank conversation with your agent about your property’s flaws. Your agent must anticipate the criticism that potential buyers will have and be able to address these issues.

    The age of a renovation can surely be a challenge in a home’s ability to sell quickly, and in the last decade or so, staging has become an omnipresent marketing tool to update and often disguise a home. But staging can get expensive, and a good agent should understand how to market your home on a budget, while still achieving results.

    “When I sold our starter house, I knew we needed to 'zhuzh' it up,” says Louise Spinner, a Los Angeles-based entertainment executive. “In keeping with how the neighborhood had appreciated, the house needed to look like what current buyers expected. My agent was astute enough not to give me a one-size-fits-all approach to staging. She thought outside the box to hire an inexpensive but savvy friend who staged the house on a tight budget. I placed my trust in her and her team, and the house sold at asking in just two weeks, without my having to spend much money on staging. An agent with fewer logged hours might have given me an overpriced and pre-baked solution to staging, and that would not have worked for me.”

    Unfortunately, certain drawbacks in any property cannot be surmounted except for a price concession, and while your agent needs to be honest with you about this, you also need to be realistic. Some agents will promise an inflated price to win the listing, only to then make price reductions after the home has been on the market. Overpricing can be a great disservice to the property. Trailing the market downward with small reductions is never a good idea – it’s “like death by a thousand papercuts,” Duvall says.https://realestate.usnews.com/real-estate/articles/is-my-real-estate-agent-doing-enough-to-sell-my-house

  • bry911
    2 years ago
    last modified: 2 years ago

    Removed a response to a deleted post.

    A note about data... Data is commonly used in two ways.

    Analytical modeling uses data and assumptions to make predictions. Data, when correct, can't itself lead to an incorrect conclusion, that is not what data does. However, your assumptions can be wrong so your model can be wrong because you used the data incorrectly. Think of it as predicting where a ball will land before it is kicked, with data like wind conditions, kicker information, distance from ball etc.

    Archival (historical) research uses data to explain known events and can still use incorrect assumptions but is a lot easier and more reliable than predictions because the outcome is known. Think of this as explaining why the ball ended up where it did give the same data.

    So when discussing data it is important to keep those things in mind.

  • wacokid
    2 years ago

    Why do you spend time with people you constantly criticize and belittle? Although you don't have the courage to admit that you do. There must be one of those Mensa forums where you can really show your intellect?

  • bry911
    2 years ago
    last modified: 2 years ago

    Why do you spend time with people you constantly criticize and belittle? Although you don't have the courage to admit that you do. There must be one of those Mensa forums where you can really show your intellect?

    Do you really not see the irony to this post? I have not belittled you! I have never made a single derogatory remark about your job, your intellect, your ability, etc. I don't believe I called you a coward either. Every comment directed at you, Stax or anyone else in this thread has been about what you said and not the person who said it.

    You link articles to support your position, "the housing market is going to crash," but you don't connect them to your hypothesis or support them despite my practically begging you to make the connection. Then you do it again and again and again. I may be rude for pointing out that you are ignoring the counterargument in your own source, but I have not attacked you personally for doing it.

    ---

    ETA: I think it is time to let this portion of the discussion drop, however, one of my many weaknesses is letting things go...

  • WestCoast Hopeful
    2 years ago

    Lots of people in this thread need to learn how to take what they dish out. People can no longer handle debate and differing opinions.

    There is a lot of useful back and forth but then there is Bs too!

  • wacokid
    2 years ago
    last modified: 2 years ago

    AS, I could be wrong but did you not say that the commercial RE would not be touched at the start of this thread?

  • WestCoast Hopeful
    2 years ago

    Not at all! I said that so far it is still creating work for my husband who is a commercial real estate lawyer. Not at all the same thing. His workload currently remains the fairly similar to pre covid

  • Louise Smith
    2 years ago

    Heated debates belong on Hot Topics. We prefer more civilized discourse here.

  • WestCoast Hopeful
    2 years ago

    I’m a firm believer that we are just in the beginning of this all and no one really knows how it plays out. I think we are in for a rough ride on many fronts and I can’t see how real estate wouldn’t be a part of that. It was on my local news, so take it with a grain of salt for authenticity, but it said year over year for this time period sales are dramatically lower in Vancouver.

  • ncrealestateguy
    2 years ago

    Lulu... where did you see the rule that "heated debates" belong only on a certain forum? Or is this just your idea of how things should be?

    Why do you keep checking back in to the thread if it bothers you so much?

  • Louise Smith
    2 years ago
    last modified: 2 years ago

    The recent diatribes are irrelevant to the subject of building a house or buying/selling a house. We have an accounting professor discussing people of low ability who think they are smarter than they are and replies that show some veracity to the point.

    I have started a new thread that is more relevant to the state of the current housing market. This thread is from March and only updated to provide mental sparring among posters who are enjoying their game.

    I do enjoy a good mental joust however. Who said I was bothered?

    Edited to change a dumb adjective to people with low ability.

  • Louise Smith
    2 years ago

    Prince Georges County, Maryland HOT market.

    May 2020 compared to May 2019: Sales Price up 8%, Days on Market down 33%. Inventory down 51%. Hot sellers market

    http://marketminute.longandfoster.com/Market-Minute/MD/Prince-Georges-County.htm

  • bry911
    2 years ago
    last modified: 2 years ago

    On this thread we have people who are sure we are past the worst noting hospitalizations and others who note climbing cases and states starting to shut down again. I don't know which side is right, but I am well aware of the danger caused by the split. Economies are largely about perception rather than fact. From a purely economic perspective fully embracing opening up or shutting down would be better than what we are headed for. Even if we opened back up and had to later shut back down it would be better from an economic perspective than where we currently are.

    Over the last few days I have become more convinced that the housing market will slow down because the economy is not restarting in full.

    So I submit there is value even in these heated discussions, which absolutely went too far, but there is still value in them.

    ---

    ETA: A cognitive bias (Dunning-Kruger) has NOTHING to do with being dumb or having low ability! It has been prominently identified among doctors. We all do it... every one of us.

  • ncrealestateguy
    2 years ago

    After their upside surprise in April, New Home Sales blasted ahead 16.6% in May, to a 676,000 annual rate. Sales are up 12.7% from a year ago, the 12-month average just 1.1% below February’s post-2008 high.

    Existing Home Sales dropped 9.7% in May, to 3.910 million annually. But those contracts were signed at the height of the lockdowns, while New Home Sales, logged at contract signing, are a timelier indicator of current activity.

  • wacokid
    2 years ago
    last modified: 2 years ago

    Yes, NC, I did see that existing home sales were down 27% from last year. But, that means nothing.... lulu and the other guy are really going to scold me.....

  • Louise Smith
    2 years ago
    last modified: 2 years ago

    CA is still perilous as cases spread.

    California plummeted deeper into a new coronavirus crisis Monday as new cases spiked to record levels, some hospitals filled up, and officials expressed growing alarm and frustration with people refusing to follow safety rules despite the increasingly perilous conditions.

    https://www.msn.com/en-us/news/us/california-enters-a-perilous-phase-as-coronavirus-spread-intensifies/ar-BB169dKn

  • wacokid
    2 years ago

    Well the stock market is booming away,,,record high for my stocks..........

  • Louise Smith
    2 years ago

    things are really bad now:

    McDonald’s halts plan to reopen dining room amid increase in COVID-19 cases

    McDonald’s is hitting pause on its plan to reopen its dining rooms for three weeks as states across the country block restaurants from reopening because of rising cases of Covid-19.

    “Keeping with our thoughtful approach to reopening, effective today, we are pausing all dine-in reopening plans for 21 days,” Joe Erlinger, president of McDonald’s USA, and Mark Salebra, chair of the National Franchisee Leadership Alliance, which represents some McDonald’s franchise operators, wrote in a Wednesday letter to US franchise operators and employees. The plans in the letter, viewed by CNN, were first reported by The Wall Street Journal.

    Several states have reversed their decisions to allow the resumption of certain indoor activities, including eating at restaurants, as coronavirus cases surge.

    New Jersey recently decided not to allow indoor dining at restaurants. New York City followed suit, and California Governor Gavin Newsom instructed restaurants in several counties to halt dine-in services for at least three weeks.

    https://ktla.com/news/nationworld/mcdonalds-halts-plan-to-reopen-dining-room-amid-increase-in-covid-19-cases/

  • maifleur03
    2 years ago

    I am hoping I am wrong but things are only starting to become bad. I can not see how the number of people who although they no longer have the active virus but will never return to their pre-virus physical and mental status will not be a drag on all sections of the economy. When people write about the drag on the economy the older sector is they need to be prepared for the not older sector drag.

  • PRO
    Virgil Carter Fine Art
    2 years ago

    "...Things are really bad now: McDonalds is hitting pause on its plan to reopen dining rooms..."


    Holy Moly, Batman, how much worse could it get...? Can't eat indoors at McDonalds...

  • wacokid
    2 years ago

    It’s not just eating at McD’s, but thousands of restaurants are going or have gone out of business. Prices will rise at all restaurants that can survive and that will hurt everyone. The McD’s I drove through no longer had “meal deals”. Laugh all you want, this is not good.

  • chispa
    2 years ago

    When restaurants open for dine in service, I plan to eat out every day for at least 6 months!

    Tired of running the home restaurant! ;-)


    Maifleur, how many people are you anticipating will be a drag on the economy? What percentage of those that got covid? Will it really make much of a difference in the total drag factor, when you add them to the rest of the population that have issues such as diabetes, heart disease, obesity, addiction, mental health problems, etc?

  • maifleur03
    2 years ago

    chrispa I am anticipating between 50-60% will have long term health problems. Between 30-40% will be needing assistance with every day living. You are forgetting or perhaps not understanding that these were people who were working and contributing both to taxes and directly to the economy. If they are lucky depending on what they were employed the ones with only long term health problems may still be able to work but at a diminished capacity.

    Anyone with long term health problems who are let go or have already been let go will probably need assistance paying for health care and perhaps daily living. Medicaid and SS Disability may provide some of that assistance.

    There are many people with those health problems that you mention that have full lives even if you do not believe it.

  • Louise Smith
    2 years ago

    "“Looking at record rates of unemployment, you would expect that the housing market would be struggling. But it’s actually the opposite, the market is on fire in our area,” said real estate agent Allison Wolf, of Berkshire Hathaway in Montgomery County.

    But for who exactly, and what does the market look like these days for folks looking to buy or sell?

    Wolf has been in the business for 14 years and says she has never seen a market like this. And she says it’s a stellar time for sellers.

    “It’s a seller’s market by far,” Wolf said. “So many people during this quarantine were stuck inside their homes. They really started to reevaluate things. So, not only did it really motivate those who were already in the market to buy a home but it brought new buyers into the market place.”"

    https://philadelphia.cbslocal.com/2020/06/30/local-real-estate-agent-shares-tips-for-buyers-sellers-as-housing-market-heats-up-thanks-to-historically-low-interest-rates/

  • Louise Smith
    2 years ago

    All Real Estate is local.

    Real Estate Prices Fall Sharply in New York

    "The coronavirus has dealt a blow to the Manhattan real estate market unmatched in recent history, and the prospects of a near-term recovery remain unclear.

    The number of closed sales in the second quarter were down 54 percent compared to the same period last year, the largest decline in at least 30 years, according to a new report from the brokerage Douglas Elliman. The median sales price fell 17.7 percent, compared to the same time last year, to $1 million, the biggest drop in a decade."
    https://www.nytimes.com/2020/07/02/realestate/coronavirus-real-estate-price-drop.html

  • WestCoast Hopeful
    2 years ago

    We live in Vancouver and have eaten our four times so far! Love it, all outside, happy to support local business. During our lockdown we ordered in once a week to local, non chain, restaurants.

    But we also only have twenty or so cases today...not the hundreds that Washington does below us...

  • btydrvn
    2 years ago

    Wow waco...this does seem to have an upside to me...spreading out the population from the tight... expensive ....settings ..may open up a new lifestyle for those who want it...like ..more space...cleaner air...a yard....less crime?...a life other than work...

  • chispa
    2 years ago

    Lulu, didn't people "escape" Manhattan after 9/11 too? They worked through their fears/trauma and returned a few years later and prices rose even higher. It will be interesting to see how it plays out this time. Maybe it will give some service/govt employees an opportunity to be able to afford to live where they work.


  • Louise Smith
    2 years ago

    chispa: Yes people were considering moving out of Manhattan after the attack on WTC. I lived in the NYC area then and knew people who worked at WTC. I don't know anyone who actually moved however. Lots of "threats" of I'm moving out. It's too dangerous here. But very little of actual moving occurred.

    As we say in the financial markets, this time it's different. 9/11 was a "cliff" event. It happened and then it was over. The pandemic has no end; it's hard to see when or if it will be "over." And children are affected by the distance learning. NY'ers are very resilient. Something difficult is a challenge we will overcome. But, if you touch our kids, watch out! And the virus has touched our kids.

  • ncrealestateguy
    2 years ago

    Maifleur03,

    Where are you coming up with these stats? I have not heard of them before.

    "I am anticipating between 50-60% will have long term health problems. Between 30-40% will be needing assistance with every day living. You are forgetting or perhaps not understanding that these were people who were working and contributing both to taxes and directly to the economy. If they are lucky depending on what they were employed the ones with only long term health problems may still be able to work but at a diminished capacity.

    Anyone with long term health problems who are let go or have already been let go will probably need assistance paying for health care and perhaps daily living. Medicaid and SS Disability may provide some of that assistance.

    There are many people with those health problems that you mention that have full lives even if you do not believe it."

    Like Save

  • ncrealestateguy
    2 years ago

    For the week of July 5th, 2020:

    The National Association of Realtors Pending Home Sales index of contracts signed on existing homes surged 44.3% in May, its biggest gain since 2001. All regions were up, though the overall index is still down a smidge annually.

    The NAR chief economist: “The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing home sales are now projected to be down by less that 10%."

  • maifleur03
    2 years ago

    NC notice I said my projections I have been doing math projections using the various listing on the net. I look at the number of patients that are listed as infected, dead, critical condition along with the projections of how many people will possibly be infected. I also have read about the number of people who are having slow recoveries. Slow recoveries mean damage to the body. People who have had lung infections which is what this virus was originally thought often have scarring in the lungs. Scarring of the lungs affects the way that people can breath. Any scarring would lead to the equivalent of COPD.

  • bry911
    2 years ago

    "Where are you coming up with these stats? I have not heard of them before."


    Not stats but here is an article you might want to read.


    https://currently.att.yahoo.com/att/think-mild-case-covid-19-051726256.html

  • bry911
    2 years ago
    last modified: 2 years ago

    While we don't have any real studies on the long term effects of SARS-CoV-2 (Covid-19), we do have some data on the closely related SARS-Cov-1.

    Synopsis: https://www.gavi.org/vaccineswork/long-term-health-effects-covid-19

    Study: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7192220/

  • nhb22
    2 years ago

    I posted a while back about our home sale falling through because of a COVID-19 related problem in March. I've been wanting to post again, but didn't want to jinx anything.


    We received another contract last month, have now sold our home, moved out, and in the process of building. :) Very thankful!


    Our realtor says that she has sold more homes (mostly higher end homes) in the last few months than she has in 3 years combined. Over 5 million combined. She stays so busy that she has a hard time keeping up. We are hearing the same from other realtors around our area.


    We live in Northeast TN. The market is booming here...for now!!!

  • Stax
    2 years ago
    last modified: 2 years ago

    "For Realtor James Dietsche, there is only one way to describe the real estate market right now: “It’s insane."A 1950s style three-bedroom home he listed in late June for $200,000 in a small town outside Harrisburg, Pa., received 26 offers the initial weekend it was for sale. Many buyers were young couples seeking a starter home and retirees looking to downsize. But bids also came from Philadelphia, New York City and the Washington, D.C., area. One person was willing to pay up to $50,000 above asking. Several were offering to buy it without inspections.

    ...

    Homes sales are booming, because Americans who have savings, stable jobs and good credit scores are taking advantage of the cheapest mortgage rates on record to bargain shop for larger homes. New mortgage applications just hit a level not seen since 2008. Sales of previously owned homes, like the one Dietsche listed in central Pennsylvania, surged a record-setting 20.7 percent in June. Sales of new homes jumped 13.8 percent last month, well above experts’ forecasts.

    “People are literally trying to get back to a house in the suburbs with a yard and a fence. Those are the houses that are blown off the market in two seconds,” said Dietsche, a Realtor at House 4 U Real Estate in Dillsburg, Pa."