Bubble Trouble: Is The Market On A Collision Course With Disaster?

Bill Wilmering’s buyer has disappeared.
An agent with Wood Brothers Realty in the St. Louis area, Wilmering recently told Inman that he had been working with a man who found the perfect home. Together, they put together an offer that they thought could work. And then as has happened to so many agents this spring, they lost a bidding war.
Bill Wilmering
“I haven’t heard from him in days, which is very unusual for him,” Wilmering said. “The last comments I had from him were that he was very discouraged.”
The anecdote is just one of many that highlights the brutal market buyers face in much of the U.S. right now. It’s a market that has been shaped by supply shortages, rising material costs and the coronavirus pandemic — all of which have sent prices soaring.

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