When will it change again?

By
Real Estate Broker/Owner with Shepherd Real Properties

When will it change again?

Funny, a client called me about finding a mobile home and sadly to say, for the first time ever, there were no active listings in that city.  But in the next city, I found 2, minimum price was $275,000. Since when did that happen?  Mobile homes used to be the least expensive, but now, they are just as expensive as stick or brick built homes.  Rentals are higher as well. However, commercial properties are not rising as fast.  I guess they were already high.

There was a time when prices on hotels, office buildings and other commercial properties was sky high, now it seems that everything has caught up with it. 

In the south, we could boost that we had the best prices, even took pride in it.  But now its getting harder to tell us apart from the big cities.

One thing that big cities have that we don’t is rent control.  I do wish we had that because rental prices are getting unaffordable for some of my clients.

I feel helpless that I have not found something in their price range, but I am still hopeful that someone will help us out of this crisis.

Mortgage rates have roughly doubled in 2022 from the 3% lows.  Everything seems harder, when will it change again?

Posted by

Elizaabeth Ann Mosley, BIC

Shepherd Real Properties

 

Comments (1)

Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Dec 23, 2022 03:13 AM