Another example of the inflamed market

With interest rates low, and some urbanites feeling the squeeze in their expensive rentals, some chose to purchase second homes in nearby rural, much more affordable locations to use as getaways – even while remaining renters of their primary home. No doubt, real estate agents have countless stories from the wild market of the last two years that tell just how overheated homebuyer demand had gotten. This trend chronicled by the New York Times reveals one of the many that have played out in the last few years, pushing home prices to all-time highs and inventory to record lows.