I agree with your point. I bought a downtown condo in
Austin ( 7 figure) and it has more than doubled since I bought 2020
december. Prices have come down but still holding above the 100%
profit line. Usually high end markets are more sensitive to market
gyrations but downtown Austin is holding up like a rock
In 6 months, either mortgage rates have materially dropped again
or house prices must drop a bit. The current combination of
dropping disposable real income and skyrocketing monthly mortgage
costs is not sustainable for very long.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
I agree with your point.
here's a nice chart for ya
Posted by arun on 11th of Jul 2022 at 11:48 am
I agree with your point. I bought a downtown condo in Austin ( 7 figure) and it has more than doubled since I bought 2020 december. Prices have come down but still holding above the 100% profit line. Usually high end markets are more sensitive to market gyrations but downtown Austin is holding up like a rock
In 6 months, either mortgage
Posted by steve on 11th of Jul 2022 at 01:35 pm
In 6 months, either mortgage rates have materially dropped again or house prices must drop a bit. The current combination of dropping disposable real income and skyrocketing monthly mortgage costs is not sustainable for very long.