- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Everyone has been WishCasting the housing market for almost 4 years now...
Posted on 7/29/24 at 5:17 pm to molsusports
Posted on 7/29/24 at 5:17 pm to molsusports
quote:
7% isn't the affordability problem
7% with high valuations is the problem.
Exactly. My house was purchased by the previous owner in the 90s for like 130k. I bought it in 2017 for $215k. Just had it appraised last year for $315k after making some improvements.
I wouldn't be bitching at all if housing prices were comparable to 20-30 years ago.
0
Posted on 7/29/24 at 5:19 pm to kywildcatfanone
quote:
None of us did because that was considered a good rate. The problem is 2020-22 made everything think rates should be in the 2-4% range, and it has never been there ever before then. My first house was just over 7%, and I managed to finance down to 6.25% 2 years later. 5-7% is not a bad rate, it's just not what we saw 3 years ago. 30 years ago, rates were around 10% and higher.
I can remember back late in the Carter Administration when the nightly news was covering interest rates on mortgages briefly hit 20%. It took years for rates to drop under 10%.
Posted on 7/29/24 at 5:23 pm to Dragula
quote:
Ummm LOTS of people... In the 80's and 90's the average was 7-10%. That certainly did not deter anyone.
Not anymore wise guy. You need to give me YOUR money for 2-3% or less!! We demand it!!
Posted on 7/29/24 at 5:25 pm to Sidicous
Almost everyone in America is entitled.
Posted on 7/29/24 at 5:36 pm to molsusports
quote:For south Louisiana the insurance is a bigger problem than the rates. Multiple people have added roughly $500-$1k on their monthly note recently due to insurance hikes
7% isn't the affordability problem 7% with high valuations is the problem. 15 year loans used to also be feasible
That’s insanity
People in modest homes paying almost 1k a month just in insurance. How is that sustainable?
This post was edited on 7/29/24 at 5:38 pm
Posted on 7/29/24 at 6:57 pm to lsupride87
It's not. My insurance has tripled since 2020 and the county I live in is trying to raise property taxes. Insurance and taxes are almost half my mortgage payment.
Posted on 7/29/24 at 7:07 pm to SouthPlains
There is no greater blessing you can give your family than to be debt free. It changes everything.
Page 5 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News