AS OF TODAY SEPTEMBER 15TH, THE NATIONAL AVERAGE 30 YEAR MORTGAGE RATE HAS SURPASSED 6%. ITS UNIRONICALLY OVER FOR HOME SELLERS AND BUYERS
HAPPENING: FIRST TIME SINCE 2008 MORTGAGE RATES EXCEED 6%
Dominic Lewis
Jeremiah Baker
yet prices remain as high as ever, so does this even matter?
Brandon Sanchez
sales have slowed way down and people are already starting to slash prices. Another year of this and sellers will be in a world of hurt
William White
good
>Another year of this
what's a good entry point?
I don't wanna wait that much... wat do?
Cooper Morales
>surged
WEN MOON 30Y?
SHOULD I APE IN?
MY BUDDY SAID 30Y RATES ABOUT TO EXPLODE WHATS THE SUICIDE STACK?
100% EOY????
Kayden Jenkins
This. I was looking to dump a property but now I am going to wait it out to see if interest rates will start declining to sell. a lot of home market Prices are starting to get cut in some areas as evident on zillow. If rates exceed 7% prices are going to get crushed. But new home buyers will still be screwed because who wants to pay 7% interest on a 300-500k loan?
James Barnes
wait for prices to come down, the fed just started tightening and it looks like they will continue to hike rates this year. If the fed pivots and starts lowering rates, home prices could start increasing again.
James Turner
>AS OF TODAY SEPTEMBER 15TH, THE NATIONAL AVERAGE 30 YEAR MORTGAGE RATE HAS SURPASSED 6%. ITS UNIRONICALLY OVER FOR HOME SELLERS AND BUYERS
hopefully we can crash the market so i can buy these deadbeats' properties while they are thrown onto the streets
Logan Murphy
In 2009, I bought my first home for $200,000. I bought it on a short sale from a lady who had bought if for $515,000 in 2005. She could no longer make her mortgage payment. I sold the same house in 2019 for $460,000. Zillow says today it's now worth $630,000, which seems insane to me for a 1,400 square-foot, three-bedroom home in commuterville.
Back in 2005, the Fed's Fund rate was lowered to 2.5 percent. Housing prices began to shoot upward. Then the Fed began raising rates until they hit a high of 5.25 percent in June 2006. Home sales began falling in September 2006. Then they collapsed nationwide and were dirt cheap 2008-2010, before slowly climbing upward again, then shooting into the stratosphere in 2020.
The housing bubble today is larger than back in 2005. We are beginning to see price cuts on homes for sale. The collapse comes next. All you people who want to buy a home, keep your powder dry. History might not repeat, but it rhymes. Inflation, deflation, confiscation. That's the Fed's game. It's why the rich get richer and the poor stay poor. Buy low, sell high.
Gabriel Rodriguez
i should have invested in physical interest rates. i missed the boat
Luke Reyes
The math is quite complicated..
your monthly interest payment for borrowing $200K at 3%, would be the same as borrowing $100K at 6%.
This is obviously gonna affect housing, a lot of people don't have the income to support these high loans.
Owen Walker
trouble is that most buyers already locked in their 3% mortgages in 2020-2021. so unless there is mass layoffs I don't know how low prices can really drop.
Levi Wilson
>interest rates skyrocket
>severe decrease in the amount of property transactions
>title companies, inspectors, appraisers, agents get laid off
>those people no longer have disposable income
>restaurants, hardware stores, piano lesson teachers, vehicle sales subsequently suffer business losses
>repeat until every industry is affected
all because some video game chick just had to go and fuck five guys
Kevin Walker
They really are shamelessly doing the same things they did in 08'
Jordan Ramirez
>gib minorities a ton of loans to buy houses out of nowhere
>shortly after exorbitantly raise interest rates
SHE'S A MANEATER
Bentley Allen
It doesn't matter. They can import refugees faster then new houses can be built. Perhaps you should try to start mass murdering mechanical engineers until we cant figure out how to get energy for modern transport.
Elijah Adams
This guy knows.
Justin Jones
Some brrrr LLC run by instathot Mexicans just listed a house for half a mil in a neighborhood with an average home price of 400k like 2 days ago. There are thousands of retards still in denial. The crash will be legendary.
Adrian Murphy
Thus also affects companies takes out loans to build new buildings or opening a new restaurant or buy new equipment.
Brody Gomez
The dry powder you're talking about might be great to have when everybody is defaulting, but the solution to the default is to print money.
There is no escape from this thing. Society demands, politically, that we print money. People today hoping they stop printing money have no fucking clue how bad things would get if that happened.
Cameron Foster
>prices
ASKING prices, not necessarily sale prices.