my rural NH town has 13 listings. 3 of these are for land, 1 is for a house that hasn't been built yet. 9 houses for sale in a town of 2,600 households 0.3% of inventory available can't find hard stats on what "normal" is, but I think this is way below normal https://twitter.com/DavidSchawel/status/1358805434749095938 …
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pandemic probably reduces people’s interest in selling
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Weird lags in housing, for reasons I understand imperfectly. I think prices are stickier than they should be, so swings in demand affect inventory more than price.
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weird lag / sticky price with downward price swings is very clear: no one wants to admit that prices are down $100k. One guy finally is forced to sell, establishing a new baseline, and neighbors say "hmm". Then a second house clears at that price. By the third one: new norm
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Buying/selling a home is also a "life narrative" thing. You can have a situation where multitudes simultaneously realize an identity as the sort of person to WFH in a picturesque New England town without a corresponding uptick in people aspiring to cash out and retire to Florida.
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good insight...but if there's a rush of people who want to move to rural NE, then prices bid should go up, and MARGINAL existing rural NE folk, who would move to FL for $400k, but would for $500k, will be motivated to sell
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