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re: Homebuyers are now spending 40% of their gross income on mortgage and interest costs

Posted on 7/22/23 at 10:18 am to
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167710 posts
Posted on 7/22/23 at 10:18 am to
quote:

I’m seeing a frick ton of HELOCs funding…



People paying off credit cards and car loans to consolidate?
This post was edited on 7/22/23 at 10:24 am
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11257 posts
Posted on 7/22/23 at 12:03 pm to
That’s my guess. My shop does most of their volume on the west coast. The other thing to think about is property taxes and insurance premiums. If the federal government doesn’t allow the unemployment spike to flow through (they won’t) the middle class is going to get sliced in half.
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