Home Prices Aren't Rising Everywhere

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05 June 2021, 08:23 AM

QuirtEvans

Home Prices Aren't Rising Everywhere

https://apnews.com/article/don...591fc266fdd5332e71ce

05 June 2021, 10:10 AM

wtg

Just anecdotal, but I've heard that urban condos in general are not selling well. A friend of a friend has a condo in downtown Chicago and apparently there are tons of units in her building that are up for sale and just sitting there.

Maybe people are moving out of the city and to the burbs?

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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier

05 June 2021, 10:50 AM

wtg

Like this little place in a subdivision not far from me where I walk sometimes. There are a bunch of Tudor style homes there.

I love the exterior architecture and landscaping; I'm a little less excited about the interior, though parts are pretty nice.

https://www.realtor.com/reales...L_60004_M76219-49541

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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier

05 June 2021, 10:52 AM

Mikhailoh

The question to ask is are Trump property prices down significantly more than other comparable properties. I understand what the writer wishes to infer and he may be right but he doesn't really back that up.

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"A mob is a place where people go to get away from their conscience" Atticus Finch

05 June 2021, 11:27 AM

Steve Miller

quote:
Originally posted by wtg:
I love the exterior architecture and landscaping; I'm a little less excited about the interior, though parts are pretty nice.

Beautiful house!

Seems funny to see the kitchen tucked in the back like that. I wonder if the buyer will move it?

05 June 2021, 11:41 AM

ShiroKuro

Also, the kitchen is oddly small given the overall size of the house.

And they have that piano right next to a big 1970s (??) style vertical heat vent. Yikes!

The interior at least "matches" the home. It seems completely out of place and time actually!

~~I think I need to spend several hours on Zillow looking at similar houses to decide what I think about it.~~

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05 June 2021, 11:45 AM

Piano*Dad

quote:
An Associated Press review of more than 4,000 transactions over the past 15 years in 11 Trump-branded buildings in Chicago, Honolulu, Las Vegas and New York found prices for some condos and hotel rooms available for purchase have dropped by one-third or more.

That’s a plunge that outpaces drops in many similar buildings

It would be fairly easy to run a little regression that differenced the changes in Trump property prices over some time frame from price changes in comparable properties in the same areas. I suspect something like this may have been done, leading to that bolded claim.

05 June 2021, 01:06 PM

AdagioM

Apparently luxury condos aren’t selling in PDX either. They’re not Trump branded, but they’re downtown/Pearl, more likely to have unrest in the street.

I think the mid-range is still selling, though.

05 June 2021, 01:17 PM

Steve Miller

Condos have always been an odd market. It seems that any time there is a glitch in the market people want to get out of them and in to single family places. They're always the first thing to drop in a downturn and the last to come back.