For all you home buyers, stay strong!!!!

With skyrocketing material costs, I believe just the opposite is gonna happen. I also believe this is probably a controlled market nationally. Very influential wealthy people/organizations are manipulating the market by buying all homes at middle income price levels then jacking up the costs of materials to make building unaffordable. I don’t think I believe the COVID labor shortage explanation currently. I believe it is the response of interest rates being at near zero for the last 10years. They need to see their return one way or another. When cash is so cheap hard assets are ideal. I also think this is way institutional investors like Blackrock and CalPers are introducing residential real estate into their portfolios as a hedge to cheap money.

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