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Local developers here have stopped, some in mid-build, on their new homes. The costs of materials have reached a point where there isn’t any margin to make a profit. The people in the market to buy can’t afford what they are now costing to buy. The used home inventory is pretty much non existent here with homes that do hit the market usually ending up selling over asking within 24hrs. No worries though, inflation IS coming and it’ll self correct and the boon will end. That’s according to my crystal ball.
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Careful what you wish for...
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