Housing market is finished

Rates are going up at the speed of light.
Did you buy the absolute top?

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Is it user?

Yes. And i got a record low mortgage interest rate you fucking retard.

of course not. housing market will never die down because the US dollar is basically worthless at this point & more people need homes than they need money

Bluh

>asset must go up forever cuz inflation
not how it works, sweetie

bros... i bought the top. Its over for landcucks.

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>He doesn't have enough cash set aside to slurp up cheapies without a loan

it really is over. By the end of the year rates on 30 year fixed home loans will be 7-8% interest. No one will be buying at these crazy prices. If you want to buy a house for less wait until spring 2023. If you need low interest rate, buy now or you are fucked

i don't want prices to go up. just means I have to pay more taxes. Rising housing prices actually makes me poorer

Tax assessors are not that aggressive. Look at the tax assessment on any house and it's like 1/3rd the asking price.

they will if inflation is 10+%

I am so happy I'm literally shaking. I hope all these greedy house flippers and real estate investors burn in hell

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>implying inflation will ever stop
I'm literally about to buy a house

perhaps but my tax bill increased a lot this year and will probably increase again next year because have risen so much and keep rising. my house isn't any nicer but my monthly payments keep going up.

a gain in housing prices isn't really a gain because it doesn't increase your purchasing power. If I wanted another house I wouldn't be able to use the appreciation to get something nicer, because every other house has similarly appreciated. I'd actually get less

You can do a responsible cash-out refi if you're going to use that built up equity for more investing (not trips to Disney or a new car).

that depends on the market, if you live in a shithole and buy a crackhouse for $20k, expect an assessment north of $100k.

this

I got a low as fuck rate locked in for 30 years. I am glad I bought last summer when I did. Why would I be upset? I'm going to live here forever. And no dumbfucks, the market crashing won't affect my ability to pay my mortgage because I actually put plenty down and still have a fuckton of savings.

has since the beginning, sweatie

would that be a good deal tho? my interest rate is 2.6% and rates are now over 5% as shown in OP. Every percentage point increase is hundreds of dollars a month in extra interest. Also means taking on additional risk might end up getting rekt

kekeke same fuck all these faggots, I live in South Florida, homes were doing 100% in one year and retards were having bidding wars over these over priced shit holes

Some people bought with cash, will live there for the rest of their lives and don't have a mortgage

homes bought in 2003, 2004 were still under water in 2008, you would have had to buy in at least 2014 to avoid being underwater when this shit show falls apart

what the fuck do you actually mean user. walk me through a scenario where i am fucked here. remember, im not gonna lose my job, my monthly payments wont change, and im not trying to sell my house anytime soon

go

what if inflation continues to surge while debt gets more expensice due to rate hikes? we're getting double priced out

Bought a 430k condo with a 130k 30 yr 2.875% loan

inflation is trans

ok I see you are retarded.
You. will. be. underwater.
Prices could fall 25% or more easily

sure, but when prices are up 50% YoY (where I live) that's not really all that bad

Would you rather have a higher priced house with a lower interest rate, or a cheaper house with a higher interest rate?

Only matters if he's on an adjustable rate. Doesn't sound like he is.

I bought cash 40% under market a couple weeks ago

basically I'm priced in for this dumb crash and I'm still up in a stable asset

fuck you gooberk8xa2

Dude its 2006-2007 all over again you will want to rope when you owe Mr. Goldberg at Goy Trap Financial Bank 200k more than what your little cuck pod is worth

If prices fall past a certain point there could be layoffs. You can’t just say “I’m not gonna lose my job”

>"prices on assest X are up 50% YoY when the average increase is around 4-5%, this is totally normal and healthy for the market and totally not a blow off top orchestrated by jews to trap normies"

The rugpull is going to be glorious.

Who gives a fuck?

USA economy is dead soon anyways once petrodollar dies. Homes about to be a month's work of labor soon lmao.

Even during the great recession unemployment didn't exceed 10%. Skilled, in demand workers, the kind with money needed to buy a house, are least likely to be affected.

Can't compare 2008 with now. It's not the same situation. We don't have banks lending to broke plebs with 0% down on ARMs and then reselling the debt falsely claiming it's AAA+ rated. The only variable that's the same is prices going up everything else about the current situation is different.

Checked and based
I’m ready to be a king

>30 year went from 4% to 5%
Still most likely below real inflation for that period. Still free money, take it

this. Normies will rope and I will laugh

If you live in that country I would not be celebrating...