Also a millennial. Wife and I got our condo right before everything shot up, got a nice 3.25% APR. Great mortgage honestly. But we've been trying to sell our condo for a YEAR now and I honestly think it's the bubble holding back a sale. The condo is just too expensive for what it is (and the horrific rise of small community HOA fees has gotten way out of hand...). We're priced right compared to others on the market, but selling condos is just stupid hard right now.

Sure I'd love it if we could sell now and get some nice profits from the sale, but I absolutely agree this bubble needs to pop!

[–] blandfordforever@lemm.ee 13 points 2 weeks ago* (last edited 2 weeks ago) (16 children)

Complains that bubble needs to pop. Is trying to sell a condo but has it priced too high to attract any buyers. Doesn't lower price.

My dude, your desire for more money is the bubble that's holding back the sale.

Your scenario is a microcosm of the whole market.

[–] MrQuallzin@lemmy.world 1 points 2 weeks ago (2 children)

We're the lowest priced among the competition. I don't care about "more money", but my family is starting to grow so we need to be somewhere other than a tiny condo and I can't do that selling at a loss

[–] piconaut@sh.itjust.works 2 points 2 weeks ago (1 children)

Will anyone buy it at the current price? No? Then I'm sorry to say but you have not yet reached the market clearing price.

[–] MrQuallzin@lemmy.world 1 points 2 weeks ago

Yes actually. Almost everyone who's toured in person has said the price is the right for the market, but they're generally not finding specific things they're looking for. We're a backup for one person right now, and the things turning people away are out of our control (HOA prices, neighbor to a public service). Couple people went for other properties due to the lack of AC in ours (Would cost $14,000 for a mini-split, so not cost effective while selling) and it's totally understandable.

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