An agent I deal with sometimes was discussing the current market atm. She mentioned that currently it was not so much FHBs looking to buy but more current buyers looking to downsize. This group had bought in the last 2 yrs at the top of the market but can no longer handle the current interest rate hikes. She said they dont care if they lose 100k just so long as they don’t have to pay the new lending rates.
They are all looking to downsize from those lavish homes and into something more Manageable! These were buyers who thought it a good idea to buy a 1.5m home for there first purchase.
Fools…
They are all looking to downsize from those lavish homes and into something more Manageable! These were buyers who thought it a good idea to buy a 1.5m home for there first purchase.
Fools…
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