Savings interest rate going down...again

[Drake3287]

I am very cash heavy. I'm hoping to move that cash into a deposit on a home in Florida maybe next year if the vacation real estate market falls sharply.

I'm in the same boat. Ton's of cash making a whopping 1% now and I'm also waiting on the sidelines for the second/vacation home market to take a dump so I can pick one up. Unfortunately, at least here in California it's not happening, it's the exact opposite, a sellers market. At least for me, it'll be interesting to see how these different ripple affects of Covid-19 play out with real estate market.

[disneysteve]

I'm in the same boat. Ton's of cash making a whopping 1% now and I'm also waiting on the sidelines for the second/vacation home market to take a dump so I can pick one up. Unfortunately, at least here in California it's not happening, it's the exact opposite, a sellers market. At least for me, it'll be interesting to see how these different ripple affects of Covid-19 play out with real estate market.

It's very much a seller's market right now because inventory is really low. There are probably a lot of folks who were thinking about upgrading who are now staying put because of economic uncertainty, job loss, etc. Also a lot of people took homes off the market due to COVID and not wanting a bunch of strangers going through their homes on viewings.

[MaryKay]

Where I live in AZ, homes are being built like crazy. We're in NW AZ and it's a small town with not a lot of amenities. We get a lot of tourism. Route 66 runs through here along with I-40. Our town is mostly hotels and fast food places. There are some manufacturing plants here but pay low wages. My point is...except for the retirees that come here (mostly) from CA, the average working family has a limited job resource. Soooo....who's buying all these houses (other than retirees) and where are they working??? True...ready-built homes are selling like hotcakes, too. We bought our house almost 3 years ago and the value has gone up by $90,000!