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“Although the most recent report says that the inflation rate is cooling off, most Americans are dealing with their biggest expense: housing. Housing is still yet to cool off. You have rents that are continuously increasing or keeping their current rate higher than normal.
You have interest rates where they were lower last year are higher. And when it comes to home prices, some markets are keeping steady pricing and tighter inventory, which allows for maintaining the current price.
I feel that, at times, the inflation rate is inaccurate as it is in arrears, and in addition to that, to acquire a home right now, it is costing a lot more than it would have, let’s say, last year or the year before, where everything from maintaining it to acquiring energy to gas prices to insurance costs, interest rate, everything is a lot higher.
My take on it is that Americans, as a whole, are still dealing with the brunt of higher costs of overall living and a slower pace of income growth.”
Martha Gaffney, Licensed Real Estate Broker and Strategic Real Estate Advisor at HouseCashin, gives her thoughts on the current housing market.
Martha’s Thoughts:
“Many Americans have been priced out of the current market when it comes to purchasing a home or their first time home, due to the fact that prices of home keep increasing, even though they have slowed down some, there is still quite the demand. I think that builders can jump in and help out by increasing more affordable housing and also private lenders come up with creative ways of them making money and offering interest rates that are attractive enough to buyers as well as their realtors.”
Whether you’re buying a house but don’t want to break your rental agreement early, or moving in with a friend to save money but still need someone to pay the rent on your old place, there are plenty of reasons to sublet your apartment.
However, subletting can be difficult to pull off smoothly, as you have to navigate areas like your own housing needs, the housing needs of others, and your landlord’s requirements.
Ideally, you can inform yourself of these issues ahead of time or early in the process to try to find solutions before you face a time crunch. But if you’re already in the middle of the process, it can still help to know some of the challenges you might face.
Some of the more common subletting pitfalls, according to Martha Gaffney, strategic real estate advisor at HouseCashin, include the following. click for more
Inconvenient conditions of sale
Conditions of sale—especially the sale being contingent on the seller finding adequate housing—can be a major turnoff for potential homebuyers, according to Martha Gaffney, a licensed real estate broker and strategic real estate advisor at Real Estate Bees. "Buyers may not want to risk the time waiting for a seller to find housing," she says. To avoid the risk of losing a great offer, Gaffney recommends that sellers come up with alternative housing options well in advance of a potential sale. Click here for more