Redfin didn’t poll, it just inferred, but if demand for second homes is booming, that could mean three things, not just one: 1. The buyers actually want and plan to use a second home, Redfin’s presumption. 2. The buyers are hedging their bets, planning to sell one of the homes when they know better what the future holds for them. 3. They’re doing a buy-and-bail – letting the old home go into foreclosure after they have moved into the new one.
The good news, apparently: Absolutely none of these radical real estate changes will have been caused by the rioting that is not happening anyway!
Redfin: Demand for Second Homes Surges 100% Year Over Year In October. CTRL- F ‘riot’; not found.
Redfin: Home Sales Surge 24%, the Biggest Gain on Record, Prices up 14% in October. CTRL- F ‘riot’; not found.
Housing Wire: The 10 most popular cities for out-of-town homebuyers.
Housing Wire: Increase in housing starts has construction playing catch-up.
Housing Wire: Texas homeownership rate reaches an all-time high.
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Issues and Insights: Don’t ‘Californicate’ The Rest Of America.