this post was submitted on 28 Nov 2024
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In vermont where I live, $150k houses are now nearly $600k.
The market in vermont is a bubble. Full of wealthy people from NYC and Boston pushing out locals.
The bubble WILL pop.
When all the expats and retires decide to move back to New York?
No no no. Those prices aren't coming down any time soon. This isn't 2008. There's no flood of liar loans to default on. These are fixed prices going forward.
Considering our health system is collapsing, I’m hoping they die / move back for healthcare.
Or the stock market crashes and all of their play money vanishes.
I very much doubt it. I doubt you'll give me a zip code but there are incredibly few markets dealing with those increases. I won't go to say it is impossible but it would be incredibly localized and an outlier on a national scale.
Vermont. Especially the commuting towns to the ski areas. The problem is state wide.