Quote:
Originally Posted by Biggd
Real estate is always a tug of war between supply and demand. It's beginning to balance out, supply slowly increasing and demand slowly decreasing.
I think the stock market rising has made wealthy people wealthier, so the high-end properties are still moving. It's much easier to take some profits when the market is sky high.
Being 71 gives me a different perspective, rates don't look that high to me.
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This is key - the wealth gap continues to grow which has a huge impact on waterfront/second home purchases. Prices are never going to be affordable for "regular" (create your own definition!) people like was the case 30 years ago. The divide will grow. Those who own waterfront property may get priced out due to taxes/upkeep but there will continue to be buyers that will cause prices to steadily rise over time.