One down the street from me that wasn't even upgraded sold about 40k over the price of the last house that sold which was beautifully upgraded. The next day it was listed for rent for 2k
My area is currently in the midst of a housing/rental bubble.
People putting in bids 10-20k over asking and getting outbid by out of province buyers.
Rents skyrocketing.
Houses selling in days after being on the market instead of weeks or months.
However, wages are desperately depressed and very quickly people are getting priced out of the market meaning this has potentially disastrous consequences in the near future.
gggfffccc on June 15th, 2021 at 18:34 UTC »
It's happening here, in Canada, as well: https://www.thestar.com/business/real_estate/2021/06/14/its-wrong-on-all-possible-levels-critics-slam-development-group-buying-1-billion-in-single-family-houses-for-rentals.html
Livvylove on June 15th, 2021 at 18:49 UTC »
One down the street from me that wasn't even upgraded sold about 40k over the price of the last house that sold which was beautifully upgraded. The next day it was listed for rent for 2k
mekanik-jr on June 15th, 2021 at 18:52 UTC »
My area is currently in the midst of a housing/rental bubble.
People putting in bids 10-20k over asking and getting outbid by out of province buyers.
Rents skyrocketing.
Houses selling in days after being on the market instead of weeks or months.
However, wages are desperately depressed and very quickly people are getting priced out of the market meaning this has potentially disastrous consequences in the near future.