Serious question, are we headed for a bubble? A slight adjustment? Or more growth?
We all know that low supply and low interest rates are really the driving factors behind these spikes in real estate prices. But there are a couple other factors at play that maybe not many people think about.
What I'm referring to is the great job migration and inflation.
Let's take a closer look; during the pandemic people re-evaluated their lives and even began moving across the country, leaving places like California and New York. This led to a big shift in real estate.
Well now we are seeing the same thing happen in the job world. We are having people go back to work post pandemic and re-evaluating their careers. There are certain fields of work where people are literally not going back to work and it's not that there are no jobs available. It is because people are reconsidering whether they want to continue working from home, a completely different job or career. This may lead to employers having to start paying people more, which in turn can lead to an increase in the cost of living and that can lead to increase in rent.
From my perspective, if rents go up and interest rates are low, real estate could be a wise investment.
So, let's get a conversation going. Where do you think this housing situation is going to go?
Is inflation going to affect the housing world? Is the great job migration going to affect things?
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