Home Topics Real Estate This sums up the shortage of Bonkers inventory

This sums up the shortage of Bonkers inventory

How would you like to pay $ 10 for an apple? Or $ 20? Or maybe even $ 120, invisible?

That’s the premise of a TikTok that went viral this week for impaling the insane real estate bidding wars that have become the norm this spring. In the video, a man shows up to buy an apple for $ 5 but is quickly outbid for cash by desperate people, including a person offering $ 100, and then remarks, “I’m from California, it’s the cheapest apple I’ve ever seen. ”

Apples are, of course, a substitute for housing in this case.

Here is the video:

@ Johnsonfiles

Anyone else in this insane battle for a home? #realestate #housingmarket #comedy #funny #realestatetiktok #realestatehacks #houseshopping #fixerupper

♬ Original sound – The Johnson Files

The video is from Shaun Johnson, a Utah comedian best known for making a popular Instagram comedy with his photographer.

Johnson posted the video on Monday and it was popular over half a million times by Wednesday afternoon. It also received more than 11,000 comments – many from people complaining about their brutal home buying experience.

It’s clear why the video hit a nerve. As Inman recently reported, the US housing stock has fallen significantly compared to demand, which in turn has led to extreme bidding wars.

With that in mind, it’s no surprise that Johnson’s video is just one example in a growing genre of insane housing costs on TikTok. In another case, TikToker Kyla Scanlon posted a fictional conversation with a beaver about the skyrocketing cost of wood.

@ ky.now

Wood bubble✨ #wood #stock #trade #invest #financing #market #fyp #crypto #bitcoin #money #for you #economy

Yes deja vu – Olivia Rodrigo

While the current shortage of inventory and supplies is great for producing humorous videos, the downside is that economists have said the root of the real problem is a huge population of people reaching the age of homebuyers and a continuing shortage of new homes . That means consumers can likely expect high prices – and more TikToks – in the future.

Email Jim Dalrymple II

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