Good overview why RE will keep on booming for years to come.
It comes down to this demographic chart:
The average age of home buyer is 33 years old. And the number of 33 year olds is getting higher and higher for the next four years. Demand will continue to be strong.
Are you guys buying investment RE right now? In the Seattle region, prices have almost doubled in last 1.5yrs in some regions! Missed the boat of buying at the start of the pandemic.
Yep, definitely around lower Kirkland and west Redmond have huge demands and biddings. We went into bidding on some fixer uppers and it was crazy. 40-60% above listing price. No thanks. A lot of the Bay Area folks like us with war chest buying everything around big tech (Google, Bellevue downtown with FB/Amazon and Redmond Microsoft HQ). Buying anything between those will be golden imo but need more inventories to stop this bidding non sense. We might just fork up and go above 2mil…much less bidding but 1-1.5 is the sweet spot for most aggressive biddings.
Bothell has seen crazy appreciation as well!
Looked at data and the data doesn’t support what I’m reading here about Seattle area.
Also Above listing % is meaningless due to low listing price to entice buyers.
