Who else is looking forward to bagholder cope after home prices drop by 20-30% to offset the rapid increase in mortgage...

who else is looking forward to bagholder cope after home prices drop by 20-30% to offset the rapid increase in mortgage rates?
>IT WAS NEVER AN INVESTMENT!!!!!!
>I-I'LL JUST REFINANCE
>YES OF COURSE THERE WILL BE 2% RATES AGAIN!!!!!!!

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Still supply and demand. Greedy fucks selling their homes for exorbitant amounts will still keep the price high, regardless of rate increase. Unless we start to see more on the market. Or foreclosures kick in. Supplies are still rather expensive to build new homes and here in America they just buy cookie-cutter track bullshit.

Foreclosures will kick in. They don’t fucking care. None of these millennials who bought houses during the pandemic can afford rates going up

>50 YEAR MORTGAGES BLOCK YOUR PATH

>My mortgage provider said I could always refinance!

prices will drop 10% and supply will get eaten by cash offers from people who personally know larry fink

rates went from 3% to 5% over the past 3 months. prices haven't gone down. calculate the total repayments over a 30 year mortgage. that's a 30% price increase (monthly payments or total payments, however you want to look at it) in just 3 months. prices will come down -- demand didn't suddenly ramp up in three months.

100 year land leased from the government ontop your house sits. Glaze into the abyss.

Unless they were smart enough to get a fixed-rate.

Don't forget the ~10% of mortgages in the US that are ARMs. They're going to fucked unless the economy crashes and interest rates go back down before the introductory APR expires. It's like people learned nothing from 2008.

Yeah I don’t think .5% fixed rates were being sold en masse

Don’t forget the media and markets are begging people to buy now. Exact 1:1 of 2008.

and before some retard corrects me, i understand you were locked in. i'm talking about the people buying right now, with a 5% mortgage on prices that haven't dropped. they're paying a 30% premium on a heavy six figure asset. imagine carrying those bags for decades.

Fixed rates aren't as fixed as people think.

even if this happens (it wont) they will all be scooped up by GARY BERMAN ceo of TRICON RESIDENTIAL which is backed by BLACKSTONE CAPITAL he will add it to his vast portfolio of single family homes isn't this fun?

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>i'm talking about the people buying right now
Yeah, absolutely worst time to buy now. Not much for sale in my area. Saw a house with a "zestimate of $450k go on the market for $650k. Greedy.

i've ((((read)))) that institutional investors only own about 2% of single family home rentals.

my favorite are 1960s boomershacks with wood panel walls, shag carpet, etc. that clearly haven't been maintained or upgraded in the past century. asking price 10% above zestimate.

When those are taken care of they have a very high rate. Modern houses are built a lot more cheaply. On the west coast older homes are seen as prettier, too.

I've also seen houses that have been on the market for months. They get pulled and then put back up for 10%-20% more.
>Seller: Why won't they buy my house? Oh, it's because it's not expensive enough! That's it!

Who gives a shit about home prices dropping, I'm not looking to sell my house ever.