You are reading a single comment by @ChasnotRobert and its replies.
Click here to read the full conversation.
-
What ever happened to supply and demand market forces?
supply is still constrained, which is preventing a collapse in prices. prices are nudging down as affordability is getting stretched but there are still lots of people sitting on loads of equity who can afford to move and buy another place.
the rental market is massively overheated due to lack of supply which is keeping the first time buyer market afloat. how long that can keep going is another question...
ChasnotRobert
Well we got the other one for 3% below asking price, which I feel great about, and my wife is very excited about too!
They had previously said they would not give more than 1% below asking, despite having been for sale for more than 4 months now.
Housing market seems funny right now. Nothing is selling round here, but only very few seem to be dropping their prices as a result. What ever happened to supply and demand market forces?