Big Shoulders Realty

Today, Big Shoulders Realty turns 20 years old! Happy birthday to us!

As the inventory of homes for sale creeps ever lower, and competition for those homes increases, I find my buyer clients asking me why this is happening and if it's ever going to get better. This article discusses the causes but unfortunately doesn't offer up a lot of solutions. Basically we need rates to come down, but that is only part of it. Before the escalation in rates we were starting to see a trend of Boomers deciding to age in place, remaining in homes that traditionally were sold off after families were raised and space demands lessened. This has been escalated by the mortgage rate trap. We also need builders to get on building new homes because we keep making more of ourselves and we need to house all the humans, but the interest rate increase and the shock of materials inflation has discouraged that as well. It will be interesting to see how future economic conditions play out--eventually the pendulum has to swing.

A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up On a scale not seen in decades, many Americans are stuck in homes they would rather leave.