With the supply and demand so out of balance on the lower-end, it’s incredible to see that the high-end is out-performing with faster appreciation. It looks like big money is throwing its weight around!
Note this guy’s negativity in the second paragraph.
I guarantee you that he is going to be wrong, wrong, wrong.
Huge pent up demand and with the “Great Resignation” that is occurring, many folks are re-evaluating their life decisions, including where they live and work. SD County Coastal area is END GAME for most, expect huge demand for years, even in the face of slightly higher interest rates. Most would gladly sell their current home to finance their down-payment and live in coastal SD. Or cash out their stock/crypto funny money gains to buy something tangible.
I totally agree.
If you worked the farm yourself for 50 years, then your equity is hard-earned, and incredibly valuable to you.
But these days, how many people have amassed a huge bankroll with ease? Stock gains, crypto, inheritance, real estate equity from properties owned short or long term, YouTube influencer, etc. These are the people you are competing with to purchase trophy properties, and they don’t care about their money like you do.