In the United States, buying a home is sometimes impossible

La demande va bondir dans celles qui attirent des retraités qui achètent sans emprunter, comme à Atlanta (Géorgie) et San Antonio (Texas) dans le sud, ou Indianapolis (Indiana) dans le nord.

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3 bedroom detached house for sale“To become a proud owner, you have to make an offer without delay and increase the offer by $ 100,000 or about $ 94,000. Prices are at an all-time high in the United States and buyers are now facing rising interest rates.”I have visited about 150 properties since 2019Says Liz Stone, who has wanted to buy a house on the outskirts of Washington for three years. He submitted four bids. All above the asking price, even up to $ 100,000 extra. Everything was rejected, despite the strong case.

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In the area, properties are selling at a price 4 to 5% higher than the starting price, explains Liz Brent, founder of the Go Brent agency, in Silver Spring (Maryland), in the inner suburbs of Washington. He cites the example of a house that appeared at $ 840,000 and eventually sold for more than a million. With each sale,there is one winner and 20 losers“, So many buyers are there in front of the few properties in the market. You have to be readythey take big riskshe says, like making an offer without a withdrawal clause, without even making sure the house is in good condition.

“READ ALSO – In the United States, inflation is raising rents

To make the necessary contribution, Liz Stone sold her apartment near the Capitol in Washington a year ago and rented it to Silver Spring. “I was thinking of moving quickly to my next home without having to rent“, or simply”short term“But since then, prices have continued to rise. And despite her wide smile, Liz Stone confesses that she has the impression that she has.”unanswered»The opportunity to buy a home. Because from January, buyers had to deal with rising interest rates after falling to historic lows for two years. At 5.11% for a 30-year fixed rate loan, the most common term in the United States, this is unheard of since 2010, compared to 2.96% on average in 2021.

This further reduces the purchasing power, and is needed today, to buy the same typical home as a year ago.earn about $ 25,000 moreannually, explains Nadia Evangelou, an economist with the American Real Estate Association (NAR).

Few properties in the market

The combination of exorbitant prices and high interest rates is expected to discourage many buyers and reduce market pressure. Price increases could thus be contained at only 5% this year, according to Lawrence Yun, chief economist at NAR. Much less than the + 16.9% of 2021 or the + 9.1% of 2020 “.There are simply not enough goods on the market“says Liz Brent. According to her, the deficit is such that it will return”at a healthy levelseems impossible. “And prices will continue to rise“The situation has been exacerbated by the pandemic, but the problem remains.”for at least 10 years“, She underlines. One solution would be to build double houses where individual houses are destroyed, he says.

This shortage is in line with the 2007 real estate crisis, when “many builders went bankrupt and never returnedin the market, Lawrence Yun recalls. But unlike Officer Liz Brent, he expects improvement in the Washington area.

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