Just read NAR report about real estate market projections...

[TexasHusker]

That's ridiculous. The cleaning fee used to be $50 or $60 and was usually waived if you stayed at least 7 days.

Our cleaning fees have roughly doubled in the last 2 years. We still can't find and keep housekeepers. Since this is a pass-through item, the guest has to pay.

[disneysteve]

Have you looked lately at the fees?

I haven’t. The last time we rented was August 2019. That was our last vacation pre-COVID.

I am planning to rent in October. I guess I’ll find out then.

[AirForce]

Prices are going to go higher and higher

[AirForce]

Real estate is a great domain to invest in! I was thinking about buying an apartment in order to rent it out. I have talked with different architects and designers in order to find out more about what do I have to do in order to make sure that my apartment is going to be rented out. I would love to be able to own a house with one and multiple apartments in order to make sure that I can save up money. It's pretty hard to start from 0, but I know that this is possible. I just have to put in work and I am sure that this dream is going to come true.

[disneysteve]

Prices are going to go higher and higher

Yeah, tell that to folks who bought their houses in 2006.

[LivingAlmostLarge]

Yeah, tell that to folks who bought their houses in 2006.

That was us. We bought in 2005 and we probably couldn't sell for a good 7-8 years before we made enough to breakeven.

[bjl584]

That was us. We bought in 2005 and we probably couldn't sell for a good 7-8 years before we made enough to breakeven.

I could sell my house right now and put $130K in my pocket.
But then I'd have the issue of being homeless.

[TexasHusker]

Yeah, tell that to folks who bought their houses in 2006.

agreed. Although inflationary policies are driving RE up, as well as everything else, so we are reaching some "new normal" levels in terms of pricing. There's a lot of free cash out there. Certainly there is some froth building that will eventually blow off.

[LivingAlmostLarge]

agreed. Although inflationary policies are driving RE up, as well as everything else, so we are reaching some "new normal" levels in terms of pricing. There's a lot of free cash out there. Certainly there is some froth building that will eventually blow off.

I think this inflation is what's really driving prices up. That the cost of building materials and labor is making housing more expensive. So people in older homes are forced to stay put which makes supply much less. This in turn makes it harder for entry level people to get in. I think i hear that supply number is like 6M homes short of what they need in the US because building in 2000-2006 went from 1M/year to something like 2008-2019 500k/homes a year so the decreased building supply has forced and imbalance which makes prices skyrocket.

[TexasHusker]

I think this inflation is what's really driving prices up.

I actually was thinking that prices going up was what was driving inflation.

[LivingAlmostLarge]

I actually was thinking that prices going up was what was driving inflation.

Chicken and egg! I have client telling me they regret not buying last year. It would have been 10% cheaper. But I point out they obviously weren't ready so whose to say?