(under construction) And the beat goes on...
Updated: May 12
What a time to be alive, right? Corona Virus 2020 is in full effect. Everything has come to a screeching hault. Except new home sales. I've never seen new homes showing more than they are right now. This leads me to believe two things.
1) New Home big wigs have laid the paddle to they employees as they want to sell their inventory before the markets really takes a hit. You might think that time is now but it isn't. There's a serious lag time in mortgages. First people are affected at work, then they use their savings, then they default on mortgages which can go on a few months AND THEN the market tanks.
2). People think it's better to get in now and new homes will keep their money safe. Not a bad plan depending on your situation. Why not get a mortgage when rates are low and you have a W2 job. It's a reasonable plan.