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Buying and selling real estate entails a variety of steps, most of which have been designed to protect consumers. Many new guidelines were implemented after the 2008 stock market crash. The crash happened because too many people had loans they couldn’t afford due to relaxed lending practices. The relaxed lending practices led to high demand […]
The National Association of Realtors recently posted an article on LinkedIn about the skyrocketing sales of vacation homes as a result of the pandemic. This trend began last summer when most states were on lockdown and that trend has only strengthened as people have a greater desire to own a second home particularly those living in large metro areas where many lockdowns were much more restrictive.
You have seen the news; the housing market has more buyers than sellers creating a shortage of inventory for buyers ready to take advantage of those low interest rates. But why are the interest rates such a big deal when home prices are on the rise?