Boots on the Ground…July 14th…Housing market starting to slow down in some areas.

The easiest way to make money is to have money. Folks up north retire and sell their homes at inflated prices. They move to TN and cut a check for a lower priced comparable home. They live there for 2 years and sell at sometimes a $100 thousand dollar profit.
The home they sold up north pocketed them much $$$ as there is a bidding war for hard working middle class folks that are getting whacked with rent increases. They borrow more than they should the results are predictable. Prices drop up north but the original seller is in the right place at the right time.
The only winner is the retired folks that moved south. After awhile, the homes in TN catch up with the former overpriced homes up north as the homes up north start to drop as supplies increase and the bidding wars stop.