Real Estate Market Cause For Anxiety
How much is your house worth?
That seems to be a hot topic these days. In many communities, house prices are escalating rapidly.
Bidding wars can turn into more than an attempt to purchase your dream home. For many, it is a competition.
Some might make an offer at a price level that would have seemed out of reach for them financially even a week earlier.
The focus is on the selling price. That is what we all want to know.
Transaction details are public information. Often news travels faster by word-of-mouth.
In my opinion, the focus should shift to the effect this crazy housing market is having on the buyers of those houses.
Think of the mental anguish a homebuyer goes through.
Suddenly a couple can be looking at their new domain and realizing they have a house mortgage approaching, or over, $1 million.
That kind of financial jolt into carrying debt far above their comfort level can be…