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Joined: 03/06/2005
Posts: 7,872
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ME Hokie 07
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here's another graphic that's coming back to bite us

in addition to the rates and such, new construction cratered from 2007-2012 so we're way behind the 8 ball
Posted: 03/19/2024 at 11:43 AM ET
(In response to this post by Will Stewart)

Thread Replies (68)

Full Thread →
Here's a graphic that explains rising prices for existing homes.
Will StewartAdmin • 03/19/24 10:12 AM ET
I use to live in a 12x60 on a small lot
UberHOKIE • 03/19/24 01:01 PM ET
I'd almost argue we have a "housing people want" shortage.
HWA • 03/20/24 02:21 PM ET
Yes. Then get old and can't get up or down stairs
UberHOKIE • 03/20/24 03:23 PM ET
We live in the Richmond city limits and decided private school is cheaper..
MP4VT2004 • 03/19/24 12:51 PM ET
I'd be really careful with private schools. We're getting ready to send
reestuart • 03/19/24 01:11 PM ET
Grandson goes to the Jewish center preschool in Allentown PA cause it’s the
DonHo-kieHi • 03/19/24 10:55 PM ET
😆 **
reestuart • 03/20/24 07:40 AM ET
If you live in city of Richmond you really need private**
ModerateHokie • 03/19/24 03:48 PM ET
Was gonna say...be MORE CAREFUL of RPS! Private schools a must in Richmond**
HOKIERIT • 03/19/24 07:06 PM ET
As a former RPS inmate, I approve this message. **
YardBird • 03/20/24 09:35 PM ET
We are really happy with the school we chose.
MP4VT2004 • 03/19/24 01:51 PM ET
Overall, it's been a positive experience. After the first year or two, we
reestuart • 03/19/24 03:12 PM ET
That is a valid concern. For us, it's actually been the opposite.
MP4VT2004 • 03/19/24 07:06 PM ET
Sounds like it’s going to be a good move. Here’s hoping for the best!**
reestuart • 03/19/24 08:27 PM ET
Thank you!**
MP4VT2004 • 03/19/24 08:28 PM ET
??? Homes in the city are far more expensive than surrounding counties. And
ModerateHokie • 03/19/24 12:53 PM ET
Not in my part of the city...we're on Southside. And our rate is under 3%.
MP4VT2004 • 03/19/24 12:57 PM ET
I use this EVERYDAY to tell people why waiting to buy is not the way **
AnotherTechW • 03/19/24 12:19 PM ET
Unless by "wait" you mean ten years. I've bought/sold 3 times in the last
Tafkam Hokie • 03/19/24 12:30 PM ET
Simple supply and demand - population increased and builders had no
AnotherTechW • 03/19/24 12:32 PM ET
Need to note that the top graph is only "existing single-family homes....
BleedinOandM • 03/19/24 11:59 AM ET
here's another graphic that's coming back to bite us ◄
ME Hokie 07 • 03/19/24 11:43 AM ET
This!!!! And what incentive to builders have now to build quickly?
AnotherTechW • 03/19/24 01:27 PM ET
Builders should build quickly to make more money in less time...
hokiehunter07 • 03/19/24 02:51 PM ET
For a split second I thought you were going to link the old TSL tshirt
Nova Hokie 95 • 03/19/24 11:47 AM ET
Before his time here
MEHOKIE • 03/19/24 11:51 AM ET
Seems to me you have two things pushing against each other
Baltimore Hokie • 03/19/24 11:39 AM ET
Except in this case, higher interest rates aren't really driving prices
Tafkam Hokie • 03/19/24 12:19 PM ET
I don’t want to trade my 4% mortgage for one at 7%.
RoswellGAHokie • 03/19/24 10:44 AM ET
We built a house in 2021 and locked in at 2.4%
99VT • 03/20/24 08:34 AM ET
I bought in 2010 at 5.35% = Smart. I did not refinance during covid = Dumb.
OrlandoHokie • 03/19/24 12:03 PM ET
This may be a stupid question, but
HokieByWater • 03/19/24 11:40 AM ET
Ultimately, yes. But when someone sells and buys, they are typically
Tafkam Hokie • 03/19/24 12:33 PM ET
no, because they could be older, selling home moving to
VT Pez4Life • 03/19/24 11:44 AM ET
Yep. Also glad we bought in 2011. Perfect timing**
MAHokie69 • 03/19/24 11:00 AM ET
Its also not helping that 1 in 3 homes are bought by "investors" now
HokieNoVA • 03/19/24 10:21 AM ET
Not sure I believe that figure.**
KeithHokie89 • 03/19/24 11:51 AM ET
I don't know about the stat, but I do know companies have bought some
BG Hokie • 03/19/24 02:54 PM ET
We went thru a spell of that in Bristol because of the Casino**
UberHOKIE • 03/19/24 12:43 PM ET
Feel free to check the bibliography.**
HokieNoVA • 03/19/24 12:12 PM ET
So what is the cause of the huge downturn in inventory?**
HokieByWater • 03/19/24 10:20 AM ET
Some of it is due to the low interest rates of a couple of year agao....
Jackie VT • 03/19/24 11:38 AM ET
Governments have not come up with incentives for 'affordable' housing
HokieHusband • 03/19/24 11:22 AM ET
and to the contrary, mortgage interest deductions incentivize wealthier ...
`lag • 03/19/24 12:49 PM ET
This post by EDGEMAN removed by Tech Sideline admin
its a well known fact that illegals cross the border with $1M+ in cash
ME Hokie 07 • 03/19/24 11:46 AM ET
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Several things
Tafkam Hokie • 03/19/24 10:50 AM ET
Residential development gets tons of pushback in my county
HokieNoVA • 03/19/24 10:25 AM ET
thats LoCo for you, but still building townhouses in bulk**
BRVT • 03/19/24 11:31 AM ET
Yeah, townhomes are pretty much the only housing getting built right now
HokieNoVA • 03/19/24 12:24 PM ET
Not at concern in Arlington
Happy Dog • 03/19/24 10:32 AM ET
Townhomes behind where my son lives are "starting at $1M". Townhouses.
RhinoVT • 03/19/24 11:42 AM ET
Saw signs for ones starting at $990k the other day
Happy Dog • 03/19/24 12:55 PM ET
Supply is not down in chesterfield we still have a building boom
HokieJamie • 03/19/24 10:14 AM ET
Supply = homes "for sale". That number is down presumably even in
BG Hokie • 03/19/24 02:51 PM ET
I see it everywhere here in NOVA, but still just trying to catch up
turkeywinghokie • 03/19/24 10:55 AM ET
just wait . . . Big development coming off Midlo soon. **
RhinoVT • 03/19/24 10:37 AM ET
I live off 360. It's cray cray**
HokieJamie • 03/19/24 11:18 AM ET
consider they want to expand powhite
VT Pez4Life • 03/19/24 12:03 PM ET
I grew up there from the time I was 5yo until I graduated from VT in 2007
ME Hokie 07 • 03/19/24 01:46 PM ET
We've added 23k since 2000. They will blow past that projection**
HokieJamie • 03/19/24 12:44 PM ET
And one elementary school. **
RhinoVT • 03/19/24 12:10 PM ET