Updated about 5 years ago on . Most recent reply
CASE-SHILLER PREDICTS A 6.6% DECREASE IN HOME VALUES BY MAY 2021
Corelogic & Case-Shiller Index predict a 6.6% decrease in home values by May 2021 overall.
I do not think Austin or the surrounding area will need to worry about this much..... We should see an increase in values going into next year due to supply.
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@Danny Webber Great post! But its hard for me to digest. Interest rates are at an all time low...
https://www.valuepenguin.com/mortgages/historical-mortgage-rates#:~:text=The%20mortgage%20rates%20trend%20continued,the%20history%20of%20mortgage%20rates.
We have government throwing money at the economy with the stimulus bills and there is another round of stimulus being talked about.
That sounds like inflation to me not deflation.
In Austin, we are seeing double digit or close to double digit appreciation due to the lack of supply. I don't think that it will continue at that pace but its an very interesting phenomenon that is occurring. If there a vaccine that comes out for Covid 19 then OMG we will see something even more remarkable. I have read that there are about 25 vaccines that are in trial runs. Surely, one of them, if not more will come on the market very soon. Its just a guess but I predict that if there is a vaccine that comes out by the end of the year then Austin will have an unprecedented amount of tourism in 2021 as folks want to get out and have fun.