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re: US homeowners hit the jackpot. Median homes up 53% from Jan 2020 to Aug 2023

Posted on 10/1/23 at 8:27 am to
Posted by JimMorrison
The Peninsula
Member since May 2012
20747 posts
Posted on 10/1/23 at 8:27 am to
quote:

Rates will be high for 30yrs? How high?


no one can answer that. the point is we're not returning to 2-3% like so many people believe. that belief has buoyed home prices for now, but when reality sets in and the market continues to lose hope of lower rates, prices will correct.

the 10 yr yield is on the way to 5% soon. next few years, 10 yr yield could be 7% and 30 yr fixed mortgage rates at 10%. that is the recipe for median home prices correcting and it's already in process.

but go ahead and continue to shrug it off. you're not alone.

Posted by Hateradedrink
Member since May 2023
1308 posts
Posted on 10/1/23 at 8:29 am to
Damn you’re an ignorant fricker
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
74290 posts
Posted on 10/1/23 at 8:30 am to
quote:

2-3% like so many people believe


Anyone who believes that is an idiot

quote:

the 10 yr yield is on the way to 5% soon. next few years, 10 yr yield could be 7% and 30 yr fixed mortgage rates at 10%. that is the recipe for median home prices correcting and it's already in process.


And for how long will it stay at 10%
Anyone who thinks that would be a long time is also an idiot

Maybe you need to look at the 30yr Mortgage History chart

quote:

that is the recipe for median home prices correcting and it's already in process.


Apprecation is on pace for another 7% increase this year
This post was edited on 10/1/23 at 8:32 am
Posted by Hateradedrink
Member since May 2023
1308 posts
Posted on 10/1/23 at 8:30 am to
Mortgage rates are going to settle around 5-6% after a few years and we already know the market can handle that.
Posted by jrodLSUke
Premium
Member since Jan 2011
22264 posts
Posted on 10/1/23 at 9:01 am to
quote:

Home prices don't have anything to do with either of these

That’s a total horseshite opinion, but not surprising coming from the most ignorant poster on TD.

Home prices are also being driven by the increases cost of new construction, materials and labor, all resulting from inflation and labor shortages. New home price surges are driving up the market value of existing homes.
Posted by JimMorrison
The Peninsula
Member since May 2012
20747 posts
Posted on 10/1/23 at 9:08 am to
quote:

Apprecation is on pace for another 7% increase this year


I've explained how the prices are buoyed right now and you can forecast demand to continue to weaken. what is your point?

quote:

And for how long will it stay at 10%
Anyone who thinks that would be a long time is also an idiot

Maybe you need to look at the 30yr Mortgage History chart


again what is your point other than asking rhetorical questions and laughing at the notion that rates can not only go higher, but stay higher.

here is your 30 yr chart. maybe analyze the current rate path the market is on and how it correlates to the period between 1960-1980.

This post was edited on 10/1/23 at 9:15 am
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
74290 posts
Posted on 10/1/23 at 9:41 am to
quote:

I've explained how the prices are buoyed right now and you can forecast demand to continue to weaken. what is your point?



Demand is not weakening

quote:

again what is your point


That your statement Rates will stay high for 30yrs is assinine proven by your chart
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