The housing market may be hot right now but some homeowners are afraid to sell, notes Grumpy Editor.
As The Wall Street Journal points out: “Plenty of households could sell their homes for a big profit, but then they would have to find a new place to live.”
It adds that “many are unwilling to compete in this frenzied market, where they could be subjected to fierce and costly bidding wars.”
Fear of failing to find a new home is a key reason people are staying in their current residences longer than in earlier days.
Young families seeking to trade up fear being priced out of the neighborhoods.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
D-DAY OBSERVANCE QUIET. Observance of D-Day, when 150,000 Allied soldiers landed on Nazi-occupied Normandy shore on June 6, 1944, sadly went by rather quietly this year.
LOOK FOR BUSY HURRICANE SEASON. The 2021 Atlantic hurricane season is expected to be a busy year as the National Oceanic and Atmospheric Administration forecasts above-average activity, with up to 10 hurricanes and up to five major storms.
POSTAGE STAMP AUCTION GRABS ATTENTION. “One-Cent Magenta,” as the 1856 postage stamp from British Guiana is called, that sold for nearly $10 million in 2014, goes on auction tomorrow in New York where it is expected to sell for as much as $15 million.
DOGS WELCOMED AT VEGAS STRIP CASINO. Las Vegas Strip hotel Encore at Wynn now welcomes canine clientele with a luxury dog-friendly resort program. A room or suite accommodates up to two canine guests that are offered exclusive amenities ranging from chow to clothing.
SHRINKFLATION SPREADS. “Shrinkflation” is a new term being used to describe companies charging the same amount for a product in a smaller package, such as smaller cans.
MOTOR VEHICLE CRASHES MOUNT. More than 38,600 people died in motor vehicle crashes in the U.S. last year, estimates the National Highway Traffic Safety Administration. That’s the highest number of fatalities in more than a decade.
THE SHOW MUST GO ON. In India, a bride-to-be dies of a heart attack during a wedding ceremony. So her sister fills in and marries the groom --- with the sister’s body in a nearby room.
MAJOR BLAZE HITS UNIVERSAL STUDIOS LOT. Exactly 13 years after a major blaze on its lot, Universal Studios in Hollywood encounters another huge fire --- at the “Despicable Me” attraction under construction.
FLAG STEALERS BEING SOUGHT. Police are seeking the culprits who stole a huge American flag and several smaller flags from a Southern California veterans cemetery over the Memorial Day weekend.
LONDON POLICE SEIZE $7 MILLION. London's Metropolitan Police seize $7 million in cash -- largest amount ever taken by the capital's police force -- after noticing a man struggling to carry bags stashed full of money.
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