30 Year Mortgage rate to hit 11% ?

How does this impact Debtmaxxers? The entire idea there is you never pay

House. My stonks were all bought at the bottom 2 years ago, I'm not worried there

Your cash will be worthless, do you know that?

It's much worse than 2008, Fed has no place to go but raise rates

>30 Year Mortgage rate to hit 11% ?
Pic related.

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>be me and be locked in at a comfy 2% with no mortgage insurance and no down payment needed
I’m so glad I did 4 years as a zogbot. I wouldn’t recommend it now. For anyone. But it feels good to be lucky.

Low rate homeowner here too

Real estate does not protect that much against inflation. Property taxes can go up, so can homeowner premiums

Better than nothing though

Checked and true, yen is not doing well at all and BOJ is starting YCC, looks like it can only go lower

except if the house prices collapse and your house will plummet in value to $200k. Which with this fucking retard incharge is a possibility.

user, please tell me you didn’t buy near a city. The only smart play 2 years ago was to buy rural.

No I don’t know why anyone would do that right now unless they were willing to lose the real estate.

Even worse. God I can't wait to watch everyone lose everything. I'm getting hard just thinking about it.

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Same here

2.75% Jumbo loan
Nothing down

Wouldn’t do it again but the 90s were different

Hardly matters if you have a low payment you can comfortably afford.

Isn't that only an issue if you plan on selling? I would think if you live there that translates to lower property taxes, with high interest rates the monthly payment wouldn't be significantly different when comparing a high house price with low mortgage rate and a lower house price with a much higher mortgage rate.

I bought at the beginning of 2020. It was a buyers delight.

It does if Peele foolish enough to do an arm. If the value falls below the value of the loan, you have issues

My parents were talking about doing just that and buying a house to flip the other week. I told them in great detail how stupid that is and I can only pray that they listened.

Supply shortage puts a floor under housing prices

People who locked in low rates are not selling, further constrains supply

In 2008, there was no credit. In 2022 there will be no houses

Property values for tax assessment purposes haven’t had time to catch up over the past two years. Hilariously enough, property values are about to plummet because of the recession so literally no one is going to get fucked on property taxes.

Smart. I walked from a deal in March 2020; didn’t know if COVID was a real pandemic, couldn’t risk it.

Bought later in the year. Paid a bit higher but I really like the place

We were all in that boat. Like I said, I got lucky. I just knew I had to get my wife and kids the fuck away from any city. I’ll never go back to city life. We are returning to our roots.

Okay bros. Everything's fucking crashing. I appreciate that.

ONE YEAR FROM NOW, what should I buy? If I want to some day be set?

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>30 year mortgage interest rates were 2.79% interest rate.
>I called my bank and locked it in.
smart man. my wife and i did the same.

>I traded about 30% of my bags to Apmex for American gold double Eagles and some bars.
based.

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Being in the twin cities mine have never gone down in 7 years. I only bought this ghetto shack because the taxes were so low. Faggots raised them 20% a year for three years straight. Now they think my really $100k house is worth $175k. I'm hoping i can get some Hmong or niggers to pay $200k.

Ok so I learned my lesson in 2008.
You have to separate in your mind the place you live from a real estate asset.
Assuming you have one single family home and it is in a good market now is the time to get out.
Buyers and lenders are already getting spooked.
If you can do it this is what I did.
I sold a house for a decent profit some years ago. I purchased a reasonable home for us to live in. Something that checked a lot of boxes for my life. With zero down payment.
And I also purchased another single family home with the small profit I had.
You need 20% down on a non primary residence.
I won’t go into more detail you probably get the message.
For me I would evacuate any urban place right now. It’s not going to be safe.
Get the fuck out of the city.
And then you have your family or work needs to determine your primary residence.
Secondary can be managed but if you are a penny pincher you can do it yourself if you are close enough.
Good luck and Godspeed user.

Inflation goes up, interest rates go up, who doesn't know this?

It will take time to fully deflate. The great depression took 2 years to hit bottom at least in stock terms. And that was before mortgages were chopped up into securities

We are now at the end of the debt cycle. 2008 was stopped from fully playing out as they slashed rates to zero and started QE, now its rising rates and QT. Get out of debt asap!
housepricecrash.co.uk/forum/index.php?/topic/53593-credit-bubble-bursts-first-snows-of-k-winter/page/3/
15 year old call about to come in spot on

business.inquirer.net/320459/keep-calm-winter-has-arrived

I meant it in the sense that if a thousand dollars is worthless and it takes that much to fill your gas tank my mortgage will still only be a thousand dollars so the bank can eat shit.

The upcoming shitstorm will be worse than 2008. You shouldn’t be buying anything other than dry stored foods, guns, ammo and possibly a very durable car. It sucks. It’s unfair. I was just at the cusp of buying a house in 2008 and it was ripped away from me by kikes. I didn’t manage to buy a house until 12 years later. Spend your money on surviving for now. Forget gaming or streaming. Every fucking monthly payment to Netflix is a half box of 9mm made to stop the nigger hordes that will come for anyone that has food. Survive, user.

Rural Maine

Bro, why in the hell did you not sell your house six months ago? You’re either fucking with me or you’re retarded.

>Not living with your parents at 42
>NGMI

>cash

No I’m being realistic. House was 200k in 2006.

Gov will not allow interest rates to go that high otherwise there would be mass rioting

I just need to sell it. I can stay with my parents while I'm waiting to get offers and close. I planned to buy a trailer for cash and ride this out and then build. I have no dependents, currently 45 shares of Tesla bought at $350 and i was going to use part of the house sale profit to increase to 100 before the next split in August.

i grew up in WI, I'm in st Paul but of course, going the fuck back to the woods

>How do you balance out inflation 101
They will have to buddy. You haven't even begun to see the shit show. I just know rich people aren't going to have their fortunes devalued a dollar because there is more money in circulation now.

our leaders are going to have to flee the country if this shit keeps going, between the gas prices and food prices and the inflation and the interest rates and the stocks collapsing it's completely unsustainable, the whole country is going to want their heads

>11%
>less than 12
>12 months a year
OMFG ONE EXTRA YEAR REEEEEEEEEEEEE

HELOC would be more suited for a single guy with some ambition not an older couple. To much risk right now.

Based. I went with rural MT but I lived in vt for a couple of years. Beautiful region you have there.

I got into 10,000 debt in UK, then fled as I couldn't take the stress of living in London anymore.
Now living with my parents at the wonderful age of 42.
To be honest I think that for autists 40s are the expiry date.
I am the age where people expect me to have a senior role at work and some kind of network...but as I am an introvert with autism it is impossible. Really starting feeling tired at life and what is expected of me.

I had repairs I needed to do first. I should be listing in muh two weeks, but not jokingly. I know a guy who was fed loan underwriter for years, he's still confident it will go for 200 because that's the magic number right now

Do you live in America? 3/4ths of these poor bastards couldn't even assemble somewhere nonetheless perform a successful revolution. The only thing that happens when plebs rise up is Africa tier dictatorships by warlords. That's it.

Debts need to be repaid with cash, cash is going to get very difficult to get hold of in the coming recession/depression. Imagine the 2008 credit crunch on steroids

bridgingandcommercial.co.uk/article/1243/property-developer-builds-brick-wall-over-bank-entrance-after-loan-refusal

PS, do not lose your job!

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I was out of high school for two years in 08, was a tough time. I'm in a much better spot now

Nice. That’s comfy.

Pic rel is your only choice left

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I wish you Godspeed on the sale and the best of luck. We’re all gonna make it.

Real Estate Fag here: I own 3 houses - fully paid for.
2 land plots in the mountains of colorado - fully paid for.
2020 Toyota Corolla - paid for
Bailed on on my 4th investment house in February 2022 when Ukraine invasion started and Russia hadn't subjugated Ukraine by day 3 which I knew meant WW3 had started.

Frens, make no mistake about it - we are going into the fight of our lives. Not all of us will make it. I figure we have about 30-90 days before the normies know what we know.

1. Get food
2. Get tools
3. Get anything you will need to buy for the next 12 months
4. Have ZERO credit card debt or any kind of variable debt
5. Make a circle of friends you can trust
6. Get in physical shape
7. Get right with God.

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What if I maxdebted with fixed rate loans?

If they dont put rates up hyperinflation kicks in and mass rioting starts. Everybody is affected by hyperinflation, debtors take the hit on rising rates. Which one do you think they will choose?

Same. I was 19 back then. You’re gonna make it lad if you can survive the upcoming hellscape.

Good side of owning a home and being locked in.
- Fixed rate versus inflation
- when economy tanks, you have a base and or castle to make stand.
- you have a means to have shelter and produce some something and barter.
Bad side of owning a home.
- when balkanization occurs, and your region is a dead zone, you are stuck.
- if your home is in a Biden state during secession and demographics dont support your position, you are fucked, and all energy applied to that home would be for nothing.

Where in twin cities? Minneapolis? What neighborhood?