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Posted on 10/19/22 at 1:30 pm to Lone Wolf McQuade
quote:
Trump was all for QE and low interest rates…
Because he had other policies that offset it and still restored the US economy to a powerhouse, whereas every policy Biden introduces is harmful to average citizens.
Any insinuation from team nuanced that this economy would be no different now under Trump vs Biden based on each one’s overall economic philosophy is a fricking disingenuous retard.
This post was edited on 10/19/22 at 1:31 pm
Posted on 10/19/22 at 1:33 pm to La Place Mike
quote:
Not excusing Biden of anything but when I first started in the Mortgage business many years ago that rate was low.
Was the average cost of a home 425k though?
Posted on 10/19/22 at 1:33 pm to bayoudude
You can get 1 yr. cDs for well over 3%. Still not close to unflation rate though.
Posted on 10/19/22 at 1:43 pm to ItNeverRains
quote:
Any insinuation from team nuanced that this economy would be no different now under Trump vs Biden based on each one’s overall economic philosophy is a fricking disingenuous retard.
There would be differences and we'd be slightly better under Trump, but we'd still be fricked with inflation and a recession coming. Rates would still be high (possibly as high), which would affect all the inflated areas (stock market, houses, cars, etc.).
We would almost assuredly have lower petro costs, which would help greatly.
Posted on 10/19/22 at 1:52 pm to OldNo.7
they are going to have to fire 3/4 of all real estate agents and mortgage bankers
Monica Lewinsky was giving hummers under the desk in Oval Office last time demand for a mortgage in USA was this low
Monica Lewinsky was giving hummers under the desk in Oval Office last time demand for a mortgage in USA was this low
Posted on 10/19/22 at 1:58 pm to Vacherie Saint
quote:
The problem now is that homes are overvalued based on low rates. Back then, homes values were at equilibrium with higher rates.
Exactly. While I would still appreciate lower rates, knowing that the home cost is way overvalued makes it a double whammy.
Posted on 10/19/22 at 2:09 pm to Areddishfish
quote:
While I would still appreciate lower rates, knowing that the home cost is way overvalued makes it a double whammy.
I fear for the people who have to buy right now before prices really fall but rates are still high
Posted on 10/19/22 at 2:12 pm to SlowFlowPro
We had to unexpectedly move to Texas because of my health issues earlier this year. We aren't forced into making a permanent decision yet but will probably need to around spring 2024.
Posted on 10/19/22 at 2:12 pm to RogerTheShrubber
If they want to fix the problem they can all jump into an erupting volcano.
Posted on 10/19/22 at 2:18 pm to SlowFlowPro
quote:
I fear for the people who have to buy right now before prices really fall but rates are still high
Why they are offering 2/1 and 3/1 seller paid buydowns
Posted on 10/19/22 at 2:28 pm to Tomatocantender
Perhaps you should take a wider view and take your head out of Larry Kudlow's arse. Yes, the signal from Biden regarding fuel was stupid, but oil prices are at $85.00 today way below the 2014 prices of 121 a barrel. So your oil price argument does not hold water on a historical level. If you were going to adjust for inflation then oil prices should be trading at better than 140 a barrel.
Your biggest problem is the money supply in general. There is too much of it. Brought on by ill advised spending prior to the pandemic and after . You had QE that flooded the market with dollars and then Biden compounds it with 1.9 trillion. The situation going back to 2008- 2009 was compounded by ridiculously low rates that stayed too low for too long and then there was the FFR that was near zero. Cheap money and lots of it. Blame Bernanke, Yellin and Powell and politicians that acquieseced.
Your biggest problem is the money supply in general. There is too much of it. Brought on by ill advised spending prior to the pandemic and after . You had QE that flooded the market with dollars and then Biden compounds it with 1.9 trillion. The situation going back to 2008- 2009 was compounded by ridiculously low rates that stayed too low for too long and then there was the FFR that was near zero. Cheap money and lots of it. Blame Bernanke, Yellin and Powell and politicians that acquieseced.
Posted on 10/19/22 at 2:35 pm to KiwiHead
quote:
Perhaps you should take a wider view and take your head out of Larry Kudlow's arse. Yes, the signal from Biden regarding fuel was stupid, but oil prices are at $85.00 today way below the 2014 prices of 121 a barrel. So your oil price argument does not hold water on a historical level. If you were going to adjust for inflation then oil prices should be trading at better than 140 a barrel.
He's using emergency powers to raid the strategic reserves to artificially keep Brent Crude lower through midterms. It's a rubber-band effect that has serious implications long term or hell maybe even in early 2023 we'll get popped. He has doubled and tripled down on renewable energy as the only investment going forward. No way you can be as ignorant as that IloveBama clown. Get your head out of his arse and wake up.
Posted on 10/19/22 at 2:39 pm to stout
quote:
30-year fixed-rate mortgages reach 7.15%
Biden has now killed the real estate market as well.
Biden is a moron but there is no way anyone can be this stupid
Posted on 10/19/22 at 2:45 pm to Tomatocantender
quote:WTI.
Brent Crude
Posted on 10/19/22 at 2:51 pm to Big Scrub TX
quote:
WTI
Okay nerd. Hopefully you're okay with the other 99.9% of my post, you know, the actual context/gist/point of it.
Posted on 10/19/22 at 2:59 pm to Tomatocantender
Its kind of odd to see so may young people who don't understand how free money has caused a lot of our messes.
First car some years ago 18% interest
First house 7%
First car some years ago 18% interest
First house 7%
Posted on 10/19/22 at 3:15 pm to SlowFlowPro
quote:
There would be differences and we'd be slightly better under Trump,
Wrong. We’d be astronomically better. But you’ll still vote Democrat even though you know things are better for every American by voting for people like Trump. I already know, it’s nuanced.
Posted on 10/19/22 at 3:36 pm to Tomatocantender
So you think rates in the 3% range was sustainable? Even with Trump?
You apparently think that QE in it's many versions was sustainable and would not catch up?
By the way oil companies are not hurting and neither are the shareholders. They are starting to get paid dividends. Refiners are taking something of a beating though.
You apparently think that QE in it's many versions was sustainable and would not catch up?
By the way oil companies are not hurting and neither are the shareholders. They are starting to get paid dividends. Refiners are taking something of a beating though.
Posted on 10/19/22 at 3:44 pm to Big Scrub TX
quote:
But again - would you rather have more reasonably priced assetse or bubble assets that only the more affluent can buy?
It should be noted that people were also complaining when the values of houses were sky rocketing
Now they're complaining that they're going back down
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