No point applying for a mortgage when the market is out of control that only hedgies with cash offers 200% over asking have a chance at buying anything/everything. Most first time buyers have given up at this point.
The bigger question everyone should be asking is why the hedgies are doing this. Why are they buying properties for insanely more than they’re worth? I have a couple theories and it all has to do with the collapse of the dollar.
They wouldn't lay off in anticipation though. They obviously don't have need of them now.
No point applying for a mortgage when the market is out of control that only hedgies with cash offers 200% over asking have a chance at buying anything/everything. Most first time buyers have given up at this point.
The bigger question everyone should be asking is why the hedgies are doing this. Why are they buying properties for insanely more than they’re worth? I have a couple theories and it all has to do with the collapse of the dollar.
Right. Property is a good hedge against inflation. Follow their lead. Max out your debt and buy property.