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Joined 12 days ago
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Cake day: June 28th, 2025

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  • This isn’t a problem at all. The problem is that builders are still giving 4.5% interest rates and incentives to build new. Existing homes on the market can’t compete.

    I built in a brand new community a few years ago. The community is full of homes needing to sell, including mine, but we can’t. The new builds are being sold left and right due to those incentives. My home was on the market since November. I only had 4 showings in that time. I took almost 60k off my original asking price, which was already well under my purchase price. I’ve had to make a deal with the mortgage company just to get out of the property. Properties foreclosing all of the area while new ones are built constantly. This is in Texas.