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Started By
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1
Posted on 7/25/23 at 3:52 pm to jizzle6609
quote:
Honestly noone should complain.
Mortgage rates were much higher in the 80's so anyone born in the 70's or before does not care that people are carrying a 7% mortgage now.
This is completely ignoring outside factors like the price of housing.
Posted on 7/25/23 at 3:54 pm to Grad92
Cost of living is not sustainable for a sizable part of the population. It's eventually going to catch up and fix itself. How long will that take? I don't know. But I don't see how this is remotely sustainable right now.
Posted on 7/25/23 at 3:54 pm to Grad92
Congress/White House gave FREE money away with no production.
Mortgage/student loans went into forbearance
Extended unemployment at higher then normal pay
Demand went up and supply went down. So prices skyrocketed. Higher rates are to take none out of the economy to return supply/demand back to pre Covid
Mortgage/student loans went into forbearance
Extended unemployment at higher then normal pay
Demand went up and supply went down. So prices skyrocketed. Higher rates are to take none out of the economy to return supply/demand back to pre Covid
Posted on 7/25/23 at 3:55 pm to Jcorye1
You millenials just need to lay off the avocado toast
Posted on 7/25/23 at 3:55 pm to Grad92
Wasn’t expecting them to.
Posted on 7/25/23 at 3:55 pm to el Gaucho
Rates in the 90s and 00s weren’t even close to zero.
Posted on 7/25/23 at 3:56 pm to Grad92
What about home and flood insurance? And taxes? I don’t think those will be going down either.
Posted on 7/25/23 at 3:57 pm to Sao
quote:Can’t tell if you are trolling or not. I hope you are
Gen X dealt with these types of rates as a norm in the 90's and 00's, including after 9/11. We survived. Suck it up, entitled kiddos.
Posted on 7/25/23 at 3:57 pm to Grad92
I locked in 3.125 I’m 2021, happy that I did
Posted on 7/25/23 at 3:57 pm to jizzle6609
quote:
Honestly noone should complain.
Mortgage rates were much higher in the 80's so anyone born in the 70's or before does not care that people are carrying a 7% mortgage now.
STFU. Compare real wages with home prices from then to now and get back tome on why we should not be complaining
Posted on 7/25/23 at 3:58 pm to WillieD
quote:
What about home and flood insurance
Highly dependent on what state you’re talking about.
quote:
taxes
Highly dependent on what state you’re talking about.
Posted on 7/25/23 at 3:59 pm to Epic Cajun
quote:
I know people who were putting off buying a house until they had 20% for the down payment. Now they are looking at both increased interest rates and home prices.
Waiting to save up 20% during record low interest rates is such a Dave Ramsey thing to do. We did USDA RD zero down loan and saw our equity increase 20% in 2 years.
My dad (boomer) said I was stupid for thinking I could get a mortgage without 20% down.
Posted on 7/25/23 at 3:59 pm to el Gaucho
quote:
el Gaucho
The fact you manage to get established OT posters to still bite is amazing to me.
Posted on 7/25/23 at 4:00 pm to Dragula
quote:Id gladly play 7% if my home costed half as much to purchase like it did in 2008.
Meh, it was 7% in 2008...not that big of a deal, ya'll will survive.
Bunch of dumb comments like this throughout this thread.
“Muh, suck it up young people. The rate was 8-9% back in my day”.
Yeah, and you house costed 50% less, a new truck was 25k, and things at the dollar store actually costed a dollar.
Posted on 7/25/23 at 4:02 pm to BabyTac
Frick outta here Tac.
Posted on 7/25/23 at 4:06 pm to Sao
quote:
Gen X dealt with these types of rates as a norm in the 90's and 00's, including after 9/11. We survived.
That’s right. Then when the rates dropped we refinanced. Quit bitching
Posted on 7/25/23 at 4:06 pm to jcaz
quote:
Waiting to save up 20% during record low interest rates is such a Dave Ramsey thing to do. We did USDA RD zero down loan and saw our equity increase 20% in 2 years. My dad (boomer) said I was stupid for thinking I could get a mortgage without 20% down.
People like baby tac will be along shortly to tell you how you should’ve just paid cash like a responsible adult.
Posted on 7/25/23 at 4:06 pm to Jcorye1
quote:
el Gaucho
The OT was worried that you may have been taken
Glad to see you back
Posted on 7/25/23 at 4:08 pm to Hangover Haven
quote:
hen my brother purchased his first house in 1981 the APR was 16%…
That’s correct. It was like putting your house on a Visa card! Lol
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