Quote:
Originally Posted by LakeDad
Right you are.
This isn’t 2008. What is far more likely to happen, is available inventory will go up once forbearance ends. That will have (if only temporarily) a flattening effect, but it’s highly unlikely to affect this area. This is a vacation area and an area of wealth with many cash buyers.
What a house is worth isn’t determined by shocked locals who have seen a milder market in the past. Sure, covid has unexpectedly compounded this, but the effects on demand may be permanent: Every day, more professionals and executives have the option and make the decision to telecommute. Covid gave this a big boost, but many of the effects will be lasting: Companies don’t need a large, expensive, central office to be successful.
Where are you going to live when you can live anywhere you want?
Most of us know the answer to that  |
Sure but we have already seen the lake camps swallowed up by the rich crowd... the rich crowd is getting pushed off the by the richer crowd. What is lost are the working folks that used to wait and cook at your favorite restaurants, cut your grass and build your decks who can no longer afford to live here