The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on October 31, 2022, 06:18:33 pm
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Homebuyers Fleeing Big Cities Due to High Inflation and Rates
Amy Furr 31 Oct 2022
Homebuyers are trying to escape big cities as inflation and rates in President Joe Biden’s (D) America hurt citizens financially.
“More homebuyers looked to leave San Francisco than any other major metro, followed by Los Angeles, New York, Washington, D.C. and Boston. That’s determined by net outflow, a measure of how many more Redfin.com users looked to leave an area than move in,” the company reported Monday.
Many people leaving New York have their sights set on Miami because of its warm climate and less expensive housing.
“And buyers looking to depart Boston are flocking to Portland, ME, where the typical home costs roughly $200,000 less,” the Redfin article said.
In addition to inflation, skyrocketing mortgage rates and the struggling economy continued frightening homebuyers, the company reported Saturday.
“Pending home sales fell 35%, the largest annual decline and the fewest homes under contract in any October since at least 2015,” its social media post read:
https://twitter.com/Redfin/status/1586402552161107969
more
https://www.breitbart.com/economy/2022/10/31/homebuyers-fleeing-big-cities-due-high-inflation-rates/
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Good luck selling their house in the big cities
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I see evidence of the flight happening in my rural town that is about 65 miles from Dallas.
It does not make me happy.
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berdie observes:
"I see evidence of the flight happening in my rural town that is about 65 miles from Dallas.
It does not make me happy."
But... but...
Isn't population growth a GOOD thing?
And isn't being for the paradigm of a considerably smaller population (both locally and globally) "anti-conservative"?
Asking for a friend...
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berdie observes:
"I see evidence of the flight happening in my rural town that is about 65 miles from Dallas.
It does not make me happy."
But... but...
Isn't population growth a GOOD thing?
And isn't being for the paradigm of a considerably smaller population (both locally and globally) "anti-conservative"?
Asking for a friend...
I don't find population growth to always be a good thing. Sure, the tax base will expand. But expenses imposed by an expanded population will as well. Considering the area the refugees are fleeing from, it could cause a change in the political landscape. And from a strictly selfish stand point...if I had wanted to live in Dallas, I would have stayed there. This little town is very nice.
To your second question...I have no idea what you are talking about @Fishrrman . So I can't answer your friend.
I maybe overlooking a sarcastic bent in your post and just being too literal? :laugh: