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[–] 14 points 1 year ago

I can’t pretend to be mad at the housing market correcting itself.

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  • [–] 11 points 1 year ago (2 children)

    They buried the lede until halfway though the article:

    But as mortgage rates are still hovering around the 7 percent mark and prices remain near their pandemic peaks, buyers are staying to the sidelines.

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  • [–] [S] 5 points 1 year ago* (last edited 1 year ago) (1 child)

    That house was also vastly overpriced at $1.35 million. It's a small tract home in a not so desirable area. Makes me wonder if there wasn't something else going on with the changes in ownership.

    That said, the market is really slowing down. One big reason is Canadians and other snowbirds make a good portion of the buyers in Palm Springs and Trump's BS has them walking away. (Canadians alone owned > 7% of the homes in 2021.) Many say they won't be back as long as the dotard is in office and maybe not even after he's gone.

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  • [–] [S] 10 points 1 year ago*

    Between this, inflation due to his tariffs and the amazingly dismal jobs report it’s clear the Trump recession has begun. In only 6 months he's turned a strong economy on its head and IMO we'll be lucky to avoid a depression.

    Maga will blame Biden, Obama, and Hillary.

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  • [–] 5 points 1 year ago

    So just a bit less than it sold in 2022. Yeah if realestate prices double in a few years it aint real.

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  • [–] 3 points 1 year ago

    We can do better than that, come on now

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  • 3 comments in c/palm_springs@sh.itjust.works view that post
    [–] [S] 8 points 1 year ago (1 child)

    Between this, inflation due to his tariffs and the amazingly dismal jobs report it’s clear the Trump recession has begun. In only 6 months he’s turned a strong economy on its head and IMO we’ll be lucky to avoid a depression.

    Maga will blame Biden, Obama, and Hillary.

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  • [–] 8 points 1 year ago*

    It's about effing time. I just CANNOT WAIT to see all the corporations that bought up as much real estate as they could go * poof! * over the next several years.

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