I totally agree with all you said except for one thing. Does anyone buy a variable interest (adjusted rate) loan anymore? So I have relatives buying homes, fixed-rate 30 years and they'll pay much less than renting from the get go. Then considering their housing payments are fixed for 30 years...wow! They won't be able to rent and thus maybe there will be a shortage. (Though, I did get a D in economics )The price of lumber is way up - there’s a shortage.
Houses, not just manufactured, are selling over asking and fast.
Interest rates are low & people want to enter the market. If the rates go back up and they can’t make the payments, there’ll be lots of places available for less.
Totally agree, they’re all decked out for looks and the workmanship is crap!Wood products is nuts.
I remember not all that long ago being pissed 7/16" OSB was $8 a sheet
Now...its over $50.....WHOA!
2x4x8 standard grade is $10!
Mobile homes have always been too high for what you get.
I know, I used to build 'em.
You shoulda seen our work crews slap those places togetherTotally agree, they’re all decked out for looks and the workmanship is crap!
And all the doors and windows are odd sizes and have to be special ordered!You shoulda seen our work crews slap those places together
We'd all get bonuses if we met or beat the quotas
And the materials...whoa......pure crap
Put together with Elmer's glue and staples
Whether interest rates rise or not will have a lot to do with it. Obviously interest rates are at rock bottom, so the money saved by a less expensive house can be easily eaten up by the escalating rates tomorrow also. Maybe a perfect storm coming.This pandemic appears to be causing a housing "bubble", that will most likely Crash in another year, or two. The huge increase in the price of building supplies, etc., will begin to level out as this virus is brought under control, and manufacturing/construction begins to return to normal. Those who are outbidding each other for houses today, may well be kicking themselves when the house they paid a ridiculous sum for winds up being valued at half, or less, of what they paid.