Currently trying to buy a new house in Florida. Prices are double to triple what they were.
I'm bidding against zillow, open door, and a bunch of people moving here from other States.
I'm talking houses being snatched off the market in one day, two days max. Everyone is paying way over the asking price.
The thrifty in me, is telling me this is temporary. But something is telling me this is bigger than we think. This is a wealth transfer!
If you're not making at least 30-40 per hour type money...you're not going qualify for a home loan! You will be a permanent renter.
These HF and investors are buying all these houses, and they're not renting them for $800 anymore like you were able to find just last year. $1200 minimum.
It's going down!