Quote from: KalOlak on Today at 08:26:59 AM

Quote from: franky1 on Today at 08:22:50 AM

Quote from: KalOlak on Today at 08:20:16 AM

For example, you want to use your house for refinancing. How will the bank determine its price? After all, you haven't sold it.

it uses 'comps' of other house sellers.. but if there is no one selling any real estate.. then there is no sells to compare or set market prices

So, the bank will use the price of the last sell of a house in your area. However, this sale could have happened a month or six months ago. In other words, it will use the last market price.

but the 'dont sell' isnt helping make new prices grow. it just stagnates the price to remain at whatever the price was a month, six month or 3 years ago, (whenever the market STOPPED)