Will the Ukraine war have an impact the real estate frenzy?
It’s likely to have the same effect as rising mortgage rates – it will make buyers want to hurry up and buy something so they can hunker down.
But the less-motivated buyers have to be getting to the point where they are looking for any reason not to buy, so the number of lookers should thin out. But it shouldn’t change the outcome for sellers of well-located, well-conditioned, and well-priced homes.
Unless one of two things happens:
- America gets in the fight.
- There is a cyber-attack on us.
A cyber-attack would be devastating to the local real estate market.
Home buyers are utilizing the internet tools to help them with their decision-making. Without them, the buyers’ comfort levels will drop quickly. An extended cyber-attack would likely to bring the frenzy to a halt.
This isn’t Iraq or Afghanistan – Russia could create havoc around the world.
Hopefully, the peaceful solutions will prevail, and we won’t have to worry about it for long.