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Housing Market Migration
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Author:  Tomanyiron [ Tue Jul 28, 2020 6:56 am ]
Post subject:  Housing Market Migration

In the “Other Investments” category, I’m posting this extraordinary turn of events going on in America:

Have you got property outside of big cities. Because the combination of large cities being hit hardest with the coronavirus and the ongoing riots in the streets, along with record low mortgage rates and record stock markets driven by frantic central banks is fueling the migration of people to the suburbs and other locations where they perceive they will be safer. In other words, the markets in the form of record low mortgage rates and record high stock prices are buoying consumer balance sheets, making it possible for those who can to qualify for a mortgage and fueling the increasingly meaningful migration.

https://www.keepingcurrentmatters.com/2 ... g-rebound/

“According to NAR, home sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June.
Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major regions achieved month-over-month growth.”

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