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Best 5 Guesses! – For Intermediate – Term Home Pricing
Best 5 Guesses! – For Intermediate – Term Home Pricing
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For some years, we\’ve been experiencing, near – historic, low, rate of interest s, also as, unprecedented impacts on the planet\’s economy, created by several factors, but, perhaps, the only – biggest one, being, the ramifications, etc, created/ causes, as a result of this horrific pandemic! Although, no one, knows, for sure, what is going to occur, I feel it\’d be useful, to think about, and supply, my best – guess, in terms of home pricing, within the intermediate term (This period is usually, considered, to be, from about, two – and – a – half years, to about 5 to 7 years). With, that in mind, this text will attempt to, briefly, consider, examine, review, and discuss, 5 of my guesses/ predictions.
1. Interest rates/ mortgage rates:
Basic economics, past trends, etc, should indicate, that interest rates, won\’t remain, at their current, historic – lows, for any substantial period of your time. it\’s already, existed, extended, than normal! We are already, witnessing, inflationary ramifications, caused by economic policies, of the past, few years, also as, artificially – low, prolonged periods of this, interest rate, policy, etc! I might expect, sometime, within the next year, approximately (unless some, unforeseen – stress occurs), for, these to a riser, gradually, and, for, the present, record pace, of home price rises, to either, level, or, grow, at a far – slower pace, or, even, come, back – to – earth, somewhat! this alteration directly impacts mortgage rates, and, when these are lower, it makes, costlier houses, more affordable!
2. From the seller\’s market :
Historically, the important estate market is cyclical, and we are, currently, undergoing, a protracted, seller\’s market, with buyers, outnumbering, inventory! it might make sense, to expect, the trend to vary, from this approach, to, first, a more – balanced one, and, perhaps, even, at some stage, to a buyers market!
3. Supply and Demand:
Like most economic commodities, the land is based, on the Laws of Supply and Demand! this suggests, that the more demand, the upper, the costs, and when it dwindles, prices drop! Most expectations are to work out, a gradual, return to the cyclical conditions, often, witnessed, and experienced, in the past!
4. Impact of inflation:
Traditionally, houses, are considered, one among the best hedges, against inflation! However, with the steep, recent increases, which have far increased the speed of inflation, wouldn\’t it add up, for, these, to eventually, become, more level, etc? While many anticipate, inflation, within the relatively – short – term, we\’ll probably, return, to more predictable levels, within the intermediate – run!
5. All land is local:
One of the challenges, to creating these predictions, is, that land, is, often, local, in – nature, and, different regions, and, even, neighborhoods, out-perform, others!
Although I feel, these are presumably, to occur, remember, they are, merely, best – guesses, and nobody has a Crystal Ball, etc! Proceed, cautiously, and be aware, of and align, your needs, priorities, perceptions, etc, together with your comfort zone!
