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Where are housing prices heading? Gain, then pain

July 17, 2020

Via: Fortune
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In his 17 years as a Seattle real estate broker, Sam Mansour had never witnessed a marvel to match the shopping frenzy that took flight in the first days of reopening. “We were shut down by shelter-in-place orders in early March,” recalls Mansour. “When we returned to work, we saw a surge in buyers that continues, with no end in sight. Many customers have condos in the city, but now both husband and wife are working at home, so to get more space and enjoy a backyard, they’re buying second homes. On top of that, we have young renters who are rushing to buy because rates are so low.”

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