Here's the problem with corporate greed. After a year plus of people selling houses at over-inflated prices because it's a seller's market, mixed with inflation in that market and a ridiculously high interest rate, you get the run-off going to people who didn't sell their houses during that time to pay for the companies who told the people their houses were worth $100k more than what they were this time last year. Eventually Uncle Sam is going to get his.
We bought our house for $340k in 2020, in the last year someone told us it was worth $452k all of a sudden and at that particular time we probably should've sold, but now it's worth $472k on Zillow and $495k through Bank of America's estimator. I haven't changed anything in that house, haven't even painted the walls, same kinda gross carpet that needs to be replaced, same boring beige colors that we just settle with, but everything is the same, just added a fence and replaced a garbage disposal that was leaking, but some idiot now says my house is worth $100k more plus than what it was almost three years ago. Someone got rich off new loans, with high as hell interest rates, off existing property by creating a demand and driving up home buying during and after the pandemic. Just another scheme to come out of that time period that some margin of people get screwed out on. Banks, lenders, mortgage companies, whoever you want to blame, follow the money and you'll see who really screwed you over. The stupidest argument I've heard yet is someone saying, "Well the supply chain and building material costs going up." On an already built house? Where the only thing to sign a terrible new loan that you need is paperwork, people's time and a pen? I love how we don't know who is really screwing us, or they're such good con-artists they made sure they could get away with it without legal repercussions. As soon as they told me what my house was worth, I'm like, "That's not right." If it's too good to be true, it always is. Members of congress, Republican or Democrat, and news outlets, you want to actually get a win for the American people, unearth this scheme and where that money is going.
Last edited by Gravedigger; 07-10-2023 at 07:51 AM..
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