Update On Housing Market

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That’s surprising giving how much talk there is about a shortage of construction workers.

Go to Santa Cruz, a Realtor told me many houses are “sitting” on the market.

Edited: Get out of your cave. Lots of new construction everywhere.

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Are you sure? May be I should buy a house there. Affirmative?

I sent you a PM.

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10% decrease in home values because of no deductions for home owners?

Will Massachusetts residents lose tens of thousands of dollars in home value if Republicans succeed in ramming their tax overhaul bill through Congress? The National Association of Realtors says yes. It has estimated that homeowners in the state could lose an average of anywhere from $21,050 to $44,130 in home value, depending on the congressional district they live in. Nationwide, homeowners are facing a 10 percent drop in values because of the bill, with potentially steeper decreases in higher-cost areas, the group argues. “Make no mistake, middle-class homeowners will see their home values fall if this proposal moves forward, while large corporations walk away with the bulk of the tax cuts,”

https://finance.yahoo.com/m/a8faf387-b66d-3366-99d7-d93e9551ecae/this-is-how-mass.-home-values.html?.tsrc=fauxdal

https://www.bloomberg.com/news/articles/2017-12-19/u-s-single-family-housing-starts-rise-to-highest-in-a-decade

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https://www.forbes.com/sites/petesaunders1/2018/02/08/comparing-americas-major-metro-housing-markets/#2ff893e929fc

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https://www.forbes.com/sites/ingowinzer/2018/03/01/investing-in-california-real-estate-here-are-a-few-things-you-should-know/#31e1b766d6e3

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Oh, the often repeated phrase that when interest rates go up, then home prices must decrease due to payment affordability.

It’s just not true. Rates go higher and home price appreciation accelerates.