I'm from a little south of Salt Lake City and I've been vexed the past few weeks about the state of our housing market (or most of the US for that matter).
Back in October, me and my girlfriend (soon to be fiance) were looking into some brand new builds a few cities over from where I live now and things were going smooth, but when it came time to sign and close on the property, it had gone up ~30k in just a few months, which priced us out of our already tight requirement on mortgage affordability. Our housing market is so dry that most properties are being snatched at well above asking, and some very well off individuals are just nabbing them with spare cash from CA and other well off state incomes.
My question is, are there families/individuals who are so deadset on getting a home that they're offering well above what they can afford to close ASAP on a place? It makes me worried, because me and my girlfriend are forced back into renting for an exorbitantly high amount for low amounts of space. We make an okay amount income-wise, but I still fail to see how anyone in a similar situation to us can afford homes in an area like this. We have no kids, 1 dog, and 1 roommate who will be living with us and the rent still will be rough.
Submitted April 21, 2021 at 11:25PM by bull04 https://ift.tt/3vfcDdH
