A small example of greedflation

[Geek Nasty]

Here's a house in KC, $600K sitting on 4 acres in one of the most affluent municipalities in KC

https://www.realtor.com/realestateandhomes-detail/16600-Switzer-Rd_Overland-Park_KS_66221_M87400-35942a

Now, take a 2nd look:

• The price was just dropped $250 THOUSAND DOLLARS! This is KC not NY or LA. That is flagrant
• It's on a big lot so maybe you could create a few more sub lots and build mcmansions on them. But look at the flood zone feature. 1/2 the land is in a flood zone. So you couldn't even reasonably build other houses on the lot without major land leveling
• Look at the price history. They were originally asking for $1.3 MILLION

I've seen a lot of this in our market. People just jacking prices up and sitting on properties for months even a year. Then regularly relist properties so they show up as "new"

 

[DJK]

Greedflation is definitely the right word for it.
This is everywhere bro.
Rampant down here in Fla!
Makes me sick bc I got caught up and went $50k over my budget for a house.