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re: The average 30-year fixed mortgage rate jumps to 7.50%
Posted on 4/16/24 at 2:15 pm to Ag Zwin
Posted on 4/16/24 at 2:15 pm to Ag Zwin
quote:
Why?
I don’t have a strong opinion either way. I’m just interested in the thought process
The other two have answered pretty much spot on. I would even expand it to not allow foreign nationals to purchase a home, or at least have some extremely strict rules around it.
Owning your home is part of the American dream and we are allowing that to not become feasible for too many people. This is a situation standard free capitalism cannot correct, there are too many foreign forces driving the prices up.
1
Posted on 4/16/24 at 2:23 pm to DarthRebel
the foreign companies and individuals buying up property is the biggest factor in rising house prices over the last 10yrs. You take them out of the market and we will see a market correction. Then people will start complaining on how their house is now worth 25% less then what they paid for it. The housing market is a racket that has been corrupted for years and no one really wants to fix it. 20yrs in the mortgage business has taught me this.
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