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Started By
Message
Real estate groups urged the Fed to stop rate hikes.
Posted on 10/13/23 at 8:12 pm
Posted on 10/13/23 at 8:12 pm
ABC
They sure weren’t complaining over the last 6 years when the fed was keeping the rates artificially low.
quote:
Major housing industry groups voiced "profound concern" in a letter this week urging the Federal Reserve to stop raising interest rates.
quote:
The letter arrives roughly three weeks before the Fed plans to make its latest rate-hike decision. Mortgage rates have reached their highest level in more than two decades and they have continued to rise. Data released on Thursday showed that mortgage rates increased for the fifth consecutive week, according to Freddie Mac.
"The speed and magnitude of these [mortgage] rate increases, and resulting dislocation in our industry, is painful and unprecedented," the letter from the housing groups said.
They sure weren’t complaining over the last 6 years when the fed was keeping the rates artificially low.
18
Posted on 10/13/23 at 8:13 pm to Bayou_Tiger_225
Real state is the single most advantaged industry by the federal tax code - and it's not even close. It's utterly preposterous that they're asking for more.
Posted on 10/13/23 at 8:22 pm to Bayou_Tiger_225
The amount of closings this week in south Louisiana was by far the lowest in the 20 years I’ve monitored such things. This week is literally a 21st century low. And it’s been bad for a year.
Posted on 10/13/23 at 8:24 pm to Lsupimp
quote:
The amount of closings this week in south Louisiana was by far the lowest in the 20 years I’ve monitored such things. This week is literally a 21st century low. And it’s been bad for a year.
Do you even Bidenomics bro?
Posted on 10/13/23 at 8:25 pm to 14&Counting
I get the CornPop Economic update every morning.
Posted on 10/13/23 at 8:27 pm to Bayou_Tiger_225
Everyone is pot stuck
Posted on 10/13/23 at 8:31 pm to Bayou_Tiger_225
Please stop hiking rates so those agents can keep cashing their checks and digging into people's equity!
Won't you all just think of the middle-aged women with no other skills!
Won't you all just think of the middle-aged women with no other skills!
Posted on 10/13/23 at 8:32 pm to Bayou_Tiger_225
Wait a minute, so you are saying that houses aren’t being sold very much anymore?
No way!!!!!
So like, if the interest rates go super high and the houses are outrageously priced that it’s a bad thing?
No!!!!!!!! I would have never ever guessed that.
And to think, all these dip shites that rushed out to buy houses cause the realtors were blabbering on about how hot the market was.
No way!!!!!
So like, if the interest rates go super high and the houses are outrageously priced that it’s a bad thing?
No!!!!!!!! I would have never ever guessed that.
And to think, all these dip shites that rushed out to buy houses cause the realtors were blabbering on about how hot the market was.
Posted on 10/13/23 at 8:34 pm to Fat and Happy
quote:
So like, if the interest rates go super high and the houses are outrageously priced that it’s a bad thing?
Everyone has been saying there would be no slowdown due to a lack of inventory but everything has a breaking point. We are pretty much there.
Posted on 10/13/23 at 8:36 pm to stout
There's definitely been a slowdown but prices are still high in my opinion
Posted on 10/13/23 at 8:38 pm to Civildawg
Posted on 10/13/23 at 8:39 pm to Bayou_Tiger_225
Did they write letters in the late 1970s and early 1980s?
If not, stfu.
If not, stfu.
Posted on 10/13/23 at 8:39 pm to Lsupimp
quote:
The amount of closings this week in south Louisiana was by far the lowest in the 20 years I’ve monitored such things. This week is literally a 21st century low. And it’s been bad for a year.
Yet prices arent really dropping and supply remains low in desirable areas
Posted on 10/13/23 at 8:40 pm to stout
I'm still on the sideline waiting, it's going to get way worse before we see the bottom imo. No one seems to be hurting yet, folks still spending money like no tomorrow.
Posted on 10/13/23 at 8:41 pm to Civildawg
quote:
There's definitely been a slowdown but prices are still high in my opinion
Just wait until those Airbnb’s start hitting the market
Posted on 10/13/23 at 8:44 pm to TxWadingFool
They’re still spending bc their mortgage is at 2.5% and that’s not changing. Prices don’t seem to be budging here on the Northshore. Taking longer to sell but still selling. Inventory is crazy low.
Posted on 10/13/23 at 8:46 pm to stout
There’s an inventory shortage. People have to have places to live, whether they own or rent. Build for rent is huge now. Investors buy up property and hire residential construction business to develop, and build. And then they rent them out. Obviously, this a huge deal for residential construction, because a lot of people won’t qualify for what home, or townhome costs these days, so they rent. Like I said, people have to have a place to live. I think you are being a little hasty with the housing downfall. The reason it happened last time is sub-prime loans, that’s not the case. Some may go down, but the ones who are hedged between BFR and For Sale, are doing well.
This post was edited on 10/13/23 at 8:48 pm
Posted on 10/13/23 at 8:47 pm to Lsupimp
Were the sellers at baw? I would be happy to take some discounted properties off folks hands.
Posted on 10/13/23 at 8:49 pm to CaptainJ47
That’s the problem. Nobody is selling. It’s hard to find. That’s why the BFR is hopping. Also, you missed his joke.
This post was edited on 10/13/23 at 8:52 pm
Posted on 10/13/23 at 8:53 pm to Bayou_Tiger_225
(no message)
This post was edited on 10/21/23 at 11:13 am
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