Everett Daily Herald headline: The real estate market took an abrupt turn this spring
Janice Podsada - Yesterday 4:30 AM
https://www.msn.com/en-us/money/realestate/the-real-estate-m…
“I was putting listings on the market right when the interest rates increased,” Shalev said. “The buyers stopped coming. There were no showings. Nothing.”
What happened next?
Prices began dropping, she said.
Price cuts are becoming more common especially when properties sit on the market for more than a week, Shalev said.
Rising gas prices and grocery prices also squeeze the housing budget. Wealth effect. Down stock market reduces funds available for down payment.
Negative pressures. But that also slows inflation.
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Rising gas prices and grocery prices also squeeze the housing budget. Wealth effect. Down stock market reduces funds available for down payment.
Negative pressures. But that also slows inflation.
Bingo!
Here’s an anti-inflation tip for all of us:
If you’re planning on a self-renovation, this is the time to load up on lumber. I’ve watched plyboard prices at Home Depot drop 40% this year. Glad I waited. The tool shed I plan to build will be much, much cheaper than had I started in January of 2022.
$LUMBER weekly chart
https://schrts.co/pbJPwuFh
$LUMBER monthly chart
https://schrts.co/jUjWbmCa
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