Quite a few locals are stuck in their living situations given the dearth of housing stock and higher prices in every sector of the market
Here's more insight regarding the inflationary trend and the impact of so much "FREE MONEY" impacting the economy.
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Current real estate trends could have lasting impacts on Kansas City-area market
KANSAS CITY, Mo. - Maddie Ehlers was certain about one thing when she started looking for a house. "I knew I'd be in the Kansas City area my whole life," the Leawood, Kansas, native said. "I love this city. I think it's a smaller city with a big city feel.
ReplyDeleteI think what she means to say is, KC is the big city with the small "town" feel, and the housing market is doing the same as it did back in 08 when the crash happened. Houses fell in price, the over inflated appraisals fell, and the banks stopped loaning on high risk loans. You would think people would learn but they are doing the same thing all over again. Anyone who buys a house now with the inflated prices in high crime areas "which is most of KC these days" is stupid. Another thing is... you never say you are going to stay there for life. uUsually that's when you get yourself in trouble with resale. ALWAYS keep resale in mind, ALWAYS.
Leawood is not Kansas City. She knew she'd be in Leawood her whole life. Oh boy!
ReplyDeleteInteresting this article would come up the same news cycle as the crash of tiny houses. It's almost as if one hand of the magic hand of the market knows what the other hand is doing?
ReplyDeleteEvery market goes up and down. Real estate will be 25% cheaper sometime in the future. Take a look at any chart of any stock, bond, commodity or real estate. They all go up and down alot over time.
ReplyDeleteAfter the next stock market crash of 50% do you really think the real estate market will be healthy? Heck no!