76 all-cash offers on one home. The housing madness shows no signs of slowing

Ellen Coleman had never received so many offers on a house in her 15 years of selling real estate.

She listed a fixer-upper in suburban Washington, DC for $275,000 on a Thursday. By Sunday evening, she had 88 offers.

“The offers just kept coming,” she said. “I felt like Lucy with the chocolates. I’m thinking, ‘This is just out of control.’”

Of those 88 offers, 76 were all-cash, said Coleman, who works for RE/MAX Realty Centre. There wasn’t even enough time for all of the bidders to visit the property. She said 15 offers were sight unseen.


Market still hot it seems.

Many people lost their jobs and yet a small select group of people make so much money that they can afford to overpay excessively. This kind of divide annoyed those who lost their jobs and in debt… I sense social problems… stay safe.

I am afraid of 发穷恶


Especially for ex-Californians who are colonizing poor states like Texas now…


Increase tax?
Typical liberal ideas.

It is very easy to increase supply. Relax zoning rules. Get rid of the EPA and EIR bullshit. Relax subdivision rules. Allow higher buildings and higher density. Get rid of zoning and building departments. Allow more logging. Get rid of capital gains taxes on the sale of sfhs.

Think about it. The government wants investors to sell sfhs, but taxes the sales so high that no one wants sell or even 1031, especially with tenants rights making multi family a nightmare fot many.
Allow designs that are cost effective and repeatable. Allow modular homes in all communities. Stop loading up houses with pet projects from environmental wackos. Eliminate all the code revisions of the last 50 years, that have doubled the cost of construction.

Education and training are better options. There are millions of open jobs. We should focus on helping people move up to higher paying jobs.