You May Be Priced Out Of The Suburbs – What You Need to Know

Priced Out Of The Suburbs

Priced Out Of The Suburbs

Housing prices have been on a meteoric rise for the past year, with little change in the past few months. For those looking for housing, city living was usually a more expensive option. Now, it looks as if the tides have turned and the suburbs are now just as pricey as the city, if not more. You may be priced out of the suburbs. Here’s what you need to know.

Suburban Housing Prices Are Rising

Prices for homes in the suburbs rose by over 20 percent in March of 2022. This is a huge increase, and it doesn’t seem to be slowing down. The rise in suburban housing prices can be attributed to a few different factors.

The first factor is that people are moving out of the city in droves. The pandemic has made many people reassess their priorities, and for many, that means leaving the hustle and bustle of the city behind for a more suburban lifestyle.

The second factor is that there is a limited supply of suburban homes on the market. The combination of people moving out of the city and limited supply has caused suburban housing prices to skyrocket.

Interest Rates Are Rising As Well

Not only are suburban housing prices rising, but interest rates are rising as well. This is making it even more difficult for people to purchase a suburban home. Interest rates are now almost 6 percent. This rate has caused many of those looking for a home to decrease the amount they are willing to pay.

Many of those that have found a home and put in a bid have had to withdraw their contract based on the rising interest rates. With suburban homes costing so much, many are now sitting on the market a little longer than a few months ago.

So What Does This Mean For You?

If you’re looking for a suburban home, you may need to adjust your budget. The days of finding a suburban home for a steal are over. You may also need to be prepared to compete with other buyers. The current market is very competitive, so if you find a home you love, don’t hesitate to put in an offer.

If you’re not ready to buy a suburban home just yet, don’t worry. The suburban housing market is predicted to cool off in the next few years. In the meantime, you can always rent. However, be prepared to pay higher rents as well. Landlords are taking advantage of the current market conditions and rising prices.

Stay Up To Date On The Market

No matter what your housing plans are, it’s important to stay up-to-date on the latest market conditions. This way, you can be prepared for whatever the future holds.

What are your thoughts on the suburban housing market? Have you been affected by rising prices? Let us know in the comments below!

Read More:

Is It Worth Going into Business for Yourself?

The Three Ds of Real Estate in the Suburbs

Can You Put a Price on Kindness?

Financial 3×5 Card to Book – All The Financial Info You Need

What if you could learn everything you need about finance in less than 10 minutes?

Well, according to University of Chicago professor Harold Pollard, everything that you need to know about money can fit on a simple 3×5 card.  Pollard was chatting with journalist Helaine Olen about how necessary most of the financial planning industry is when Olen challenged Pollard to put everything down on paper.  He did…and it went viral.  Pollard had since published an entire book with Olen that further discusses the card.

Why would this be important to you? Because instead of paying for a financial advisor this 3×5 card has all the information you’ll need.

Financial 3x5 card Continue reading

Handheld Fans and Misters That Actually Work

Handheld fans and misters that don't fall apart

You might discredit them as too flimsy but there’s a very specific use case for handheld fans and misters: When you’re stuck somewhere without any other way to cool off.

For instance: Outdoors without a breeze, shade or a body of water to jump into. Or,  indoors without any circulation, like during a power failure that effectively shuts down your air conditioning and any fan that plugs into the wall.

In these types of situations, this type of battery-operated handheld might even bring you back from the brink of heat stroke or even dehydration.

That said, not all battery-operated fans and misters are dependable; some don’t last long before falling apart.
Continue reading