Thinking of Selling Your House? How About Making a Deal With Your Kids Instead?
Home prices rose at unprecedented levels in 2021, up somewhere between 16.9% and 20% from 2020 prices, depending on the statistics you look at. It was even more in some hot spots like Miami, where single-family home prices increased an astounding 25.6%. The point is houses are expensive and inflated, like practically everything else these days, and most analysts predict more housing increases for 2022.
The predictions for 2022 housing price increases that I've seen range between 5% and 14% (or more in some markets). The exact increase remains to be seen, but house prices will likely continue to rise, at least for the near future. The competition for single-family homes is the greatest in the entry or first-time-buyer market, with cash buyers usually winning the bidding wars that typically occur. How are young people supposed to be homeowners in this environment?
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Source Fool.com
