We are almost at 5% mortgage interest rates and we are only at 0.25% on the Federal funds rate. Prepare your anuses for the biggest housing crash in human history.
>Inb4 blackcock will buy more houses
>inb4 immigrants will buy more houses
>inb4 housing prices only go up forever
You are all retards with zero understanding of housing markets and economic history in this country.
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>> Fed rates go up
>>Recession begins
i hope it crashes. I'm about to sell end of april. hope it crashes may 1st lol
Thank fuck
Bullish for crypto
Can't wait to slurp the fuck out of the housing market
you will own nothing user what have you not learned here
It’s not going to crash until we get to 7+, which won’t happen.
If anything, higher rates will force people to stay with their lower 3% mortgage and create a shortage of housing for sale, temporarily driving up the price.
We’re a few years away from ant depreciation. At most, house prices remain the same for a few years.
>crypto
kys
Where was it a year ago? care to provide some context?
The entire US economy functions on debt and shitloads of Americans have tens of thousands of dollars in credit card debt, car loans, mortgage loans, college student loans, etc. For true market equilibrium, the Fed’s interest rate target needs to be about 1% higher than real inflation, and depending on what metrics you look at real inflation is anywhere from 7% to 15%.
The US economy could not possible handle a 15% interest Federal Funds Rate.
fake news. i can still get 3.8% for 30yr fixed.
>5% interest
Nigger, it was in the 20% in the 1980’s
>Inb4 blackcock will buy more houses
That's the idea. They effectively have infinite wealth because of moneyprinting and can pay virtually any price for a house no matter how unreasonably priced it is. Cash will eventually be phased out entirely for CBDC, rugpulling all the boomers they bought the houses off of.
>inb4 immigrants will buy more houses
They won't buy anything, they'll just be renters on UBI/CBDC, tied to social credit. Hundreds of millions more will slowly be imported as well for more cheap labor and for more perma-renters.
>inb4 housing prices only go up forever
The prices don't have to go up forever, the main goal is just to get houses out of smalltime individuals' hands and ensure nobody can ever buy them again. Eventually Blackrock will own everything and act as one massive landlord. You will own nothing and you will be happy.
I just refi for 2.75%,30year
1 year ago it was 2.8%. Mortgage rates have almost doubled and the Federal Reserve has barely even touched anything yet. They’re projected 6 more rate increases by the end of the year and to end the year at around 2% on the Fed Funds Rate. It’s very realistic we see mortgage rates hit 10% by then.
Credit card rates are always high and mortgages/car/student loans are often at a fixed rate.
>refi'd at 2.625%
feels good
The fixed rates are fixed only for people who got it before then. If a zoomer wants to buy a house at the end of the year he’ll have to pay 10% interest on that loan
There are hundreds of pages worth of fine print that ensure your lender has full right to double/triple/quadroople/infinitroople your rates at any given time that they please. Same thing happened in preceding 2007/08. It's not like you'll be in a financial position to fight them back seeing as you were poor enough to even need a deal like that.
In 1984 you could buy a gov t-bond at 12%. 10k turned into 90k in 20yrs. Risk free.
More people that need houses will not get approved. Less buyers will be in the market. Less hnwi will be able to take out low interest mortgages which they go for because they use the savings to
invest and spend as little capital as possible.
Eventually people will need to sell for various reasons and will not be able to find buyers that can pay top price. They will sell for lower and housing will start to decline.
Housing in general will become cheap and a lot of homes will be underwater. People who go near or into bankruptcy won’t be able to sell their houses to cover and will liquidate 401’s which will tank the stock markets.
There is a very real possibility that gold silver and crypto gain value as everything else goes under.
fuck niggers. I'm at 2.5% and will have mine paid off in less than 7 years. I'm also raising pigs and chickens because fuck jews too.
You implied that people who already had these loans will see an increase. Regardless, anyone with a variable mortgage may be in deep shit. I was warned about those in high school.
That's an arm user
Historically, these rates are still incredibly low. Of course, for zoomers, it's going to look high. Look back 20 years and see what rates were like. 40 years. 60 years. 5% is nothing.
The Jews always win
Lol imagine this being a twitch e-thot and you're looking at what's coming.
>Nigger, it was in the 20% in the 1980’s
checked
you also needed 20% down which you could earn in a year. the high interest rate should have encouraged you to pay it off quickly.
OP, General Milley here and I do not understand. We in the Pentagon have plenty of money and I bought my two nigger lovers new half million dollar homes with my slush fund I keep for my niggers. How is all of this a problem. Thanks.
Soon you will be able to buy an I-Bond for about that interest rate!
Houseprices were also lower. Thats the point, dumbass. (sorry for being rude)
Houses were also a helluva lot cheaper. Even when adjusting for inflation.
You thought the Great Depression was bad. At least they still had the all the production means to get out of the great depression.
Where looking at a Great Nihilism. Where people will look at what the past 100 years has lead us and think it not worth existing
I felt this way earlier leaving a gas station and looking down and seeing all the trash on the ground.
It's been building for a long time, but I asked myself: Why do I live around thousands of other people, who live trash on the ground? Wouldn't it be better to just live by myself?
I'm not innawoods type, but
Instead of a crash I hope the entire system crashes
>tfw people are coming in droves to your conservative flyover state and fucking up home prices permanently for all the locals
not even a crash will save us cause we are objectively more affordable therefore less to correct
excellent