I really do not know the market outside, but two of my friends, presently renting, telling me their rent is increased too much and constantly looking to buy some home. They desperately looking for homes, but limited by financial strength and repeatedly beaten by unbelievable competition for homes.
Was on the ski lift with a guy looking to rent in Carson City.
Paying currently $1000. House is selling. Now will have to pay $1650 for a modest 3/2 house in the Carson Valley…$1/SF
This is a national problem… it is due to a shortage of housing… Caused by nimbyies enviro nazis and liberal Democrats. Time to let builders loose… build baby build
That might be the rule here, but if you come from elsewhere, you still have an expectation that a first home is “modest.” Not that you’re shoving 4 people into a one bedroom home. It’s a culture shock for Americans, and it’s a culture shock for their parents who view it as a failure not to have separate bedrooms for the kids.
The millennials are finally getting out of their parents houses. Millions of new households and not enough housing built in the last 30 years… Classic supply and demand crisis