My first post but here is my .02$
1.Intrest rates are going up. We are in the process of buying our first rental. My loan officer who is handling it said he would love to handle our primary as well, however he said said he couldn’t even come close to our 2.6%
2. The market is so high. Again we looked at moving but to get a comparable house to ours now would literally be 1.5 times we paid for ours. Factor in the above mortgage rates and you are getting basically same house for twice as much.
3. I haven’t seen in my area anyways a lot of building. My self and guy I work with both put off build roughly 30x30ish garages because building materials are through the roof. 2 years ago I could get a 2x4 for 1.77 now it’s almost 9$. That 7$ difference adds up real fast when you factor in buying a 100 of them. That’s just 2x4s not to mention nails,screws, drywall.
4. There is a lot of uncertainty with the climate in which we are operating in. Not trying to be political at all but there is an uneasy feel in the air. The uncertainty causes people to stay in the certainty that they already know.
5. There is a perception right now that it’s a seller market and good luck if you are buying. It makes people not even want to look.
