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Started By
Message
re: New Realtor talking point: "Marry the house, date the rate"
Posted on 11/13/23 at 10:54 am to Thib-a-doe Tiger
Posted on 11/13/23 at 10:54 am to Thib-a-doe Tiger
quote:
Id actually like rates to go up another couple clicks
quote:
How much more of a grinding halt do you want the economy to come to?
Would you prefer crippling stagflation?
1
Posted on 11/13/23 at 10:56 am to stout
Our office neighbor across the hall is a realtor. He says people don't care about the rate, all they care about is the payment.
Posted on 11/13/23 at 10:56 am to Antonio Moss
How are you going to have stagflation if demand is still high and supply is still low as others have stated?
Yes inflation is still high, but actual unemployment (those who want to work but aren't) is still pretty low
Yes inflation is still high, but actual unemployment (those who want to work but aren't) is still pretty low
Posted on 11/13/23 at 10:57 am to Deactived
quote:
Who is wishcasting?
We've got people on here that have been talking about and predicting housing market to crash going on 5 years now. I love the threads with all the graphs etc. I can remember when I was lurking before I joined in 2019 people saying "you'd have to be a moron to buy a house at these prices!!!!!"
Well, anyone who bought in 2019 has a ton of equity right now and likely refi'd into a very low rate. Who are the morons?
This forum has been nothing but wrong about housing market. Will it crash at some point? Absolutely. There isn't a soul on here who knows when that will be. We have people on here that still deny there is low inventory
This post was edited on 11/13/23 at 10:58 am
Posted on 11/13/23 at 10:58 am to Thib-a-doe Tiger
quote:
I don't disagree at all. But as someone who knows how to use and control credit, I don't need them to tighten the screws any more. They have essentially pushed the weak buyers out of the market already between high(er) rates and inflation. Anything additional is just piling on. While still at a discount from recent highs, the drop in the stock market doesn't rival Covid or 2009 drops.
ETA: and I don't see them pausing and then continuing to go up
I just wish people had more sense of personal responsibility.
We end up all paying (not directly) when the majority is spending without any intention of clearing their debt or buying houses they know they cannot afford, etc.
Posted on 11/13/23 at 10:58 am to Jim Rockford
quote:
Our office neighbor across the hall is a realtor. He says people don't care about the rate, all they care about is the payment.
This is true for 99% of people on anything they finance. We have been taught to live for today. Where people are running into problems is that the note on their "dream home" that they'll stay in for 5 years is now double what it was just 2 years ago
Posted on 11/13/23 at 10:59 am to stout
Based on that chart, looks like prices are about to shoot up again good buddy
Posted on 11/13/23 at 11:00 am to ronricks
quote:
Will it crash at some point? Absolutely. There isn't a soul on here who knows when that will be
Damn. Sounded like you had the answer.
Posted on 11/13/23 at 11:01 am to stout
Nothing about either of those two images says it’s universally a bad time to buy. People need houses, and if you can afford the note and the price is fair, buy what you want. I certainly would not stretch with the expectation that rates will change soon. I also wouldn’t wait on the sidelines waiting for home prices to contract 20% across the board.
This post was edited on 11/13/23 at 11:02 am
Posted on 11/13/23 at 11:01 am to Jcorye1
quote:Because supply is going to remain low enough to keep prices from bottoming out. Nobody wants to sell their house with a sub 3% rate and have to buy with an 8% rate if they can avoid it. Lot of people are stuck where they are now because they can’t afford the interest rate to move.
I don't think we are in for the housing collapse everyone thinks we are in for
Posted on 11/13/23 at 11:03 am to Thib-a-doe Tiger
quote:
How are you going to have stagflation if demand is still high and supply is still low as others have stated?
See stout's post about commercial/institutional owners.
Crushing them will create lots of inventory.
Posted on 11/13/23 at 11:08 am to ronricks
quote:
ronricks
Retard who can't read.
Posted on 11/13/23 at 11:10 am to Gifman
I have come to grips that we are stuck in the too small house for us until we die because the rates will never get better.
Posted on 11/13/23 at 11:12 am to RonFNSwanson
quote:
Using the 22 years of rates not going down example doesn't really help her argument
That’s on long-assed date with 48-oyster girl.
Posted on 11/13/23 at 11:13 am to Gifman
quote:
Retard who can't read.
Can't read what? That the housing market hasn't crashed despite YEARS of wishcasting on here for such to happen?
Posted on 11/13/23 at 11:13 am to tigafan4life
quote:
I have come to grips that we are stuck in the too small house for us until we die because the rates will never get better.
I saw this meme earlier
Posted on 11/13/23 at 11:14 am to SlowFlowPro
Eventually all the kids will be gone and it will be big enough for us again. Just another 14 years
Posted on 11/13/23 at 11:15 am to stout
Didn’t they create an app 10 years ago to have person to person loans, skipping the bank?
Like I’ll float you 6% then you can refi when rates get better.
I’ll take 6% interest only at an 80% LTV with a credit score over 700 and a DTI at 40%.
Like I’ll float you 6% then you can refi when rates get better.
I’ll take 6% interest only at an 80% LTV with a credit score over 700 and a DTI at 40%.
Posted on 11/13/23 at 11:17 am to stout
Stout - how do you feel about points in this market?
Posted on 11/13/23 at 11:27 am to stout
Saw pretty much that same post on a realtor’s social media this weekend.
They must be starting to hurt in deal flow. Going to be a hard turn for the 40% of new real estate agents created during the the last boom decade.
They must be starting to hurt in deal flow. Going to be a hard turn for the 40% of new real estate agents created during the the last boom decade.
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