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re: 7% Mortgage Rates 30-Year
Posted on 9/23/26 at 1:48 pm to ronricks
Posted on 9/23/26 at 1:48 pm to ronricks
quote:
Irrelevant as to what is going on today. Home prices 40 years ago were far different as well. You are just trying to make excuses for Trump as usual.
we know. Facts and history are irrelevant to you. 7% is pretty dang good. You’re just wanting to trash Trump as per usual. What rate do you have on your house?
This post was edited on 9/23/26 at 1:52 pm
Posted on 9/23/26 at 1:56 pm to BBONDS25
Rondicks is one of the dumbest posters
He brags hes got tons of money but has a paid off home (just lulz) then cries about mortgage rates and cannot read a cpi report
He brags hes got tons of money but has a paid off home (just lulz) then cries about mortgage rates and cannot read a cpi report
Posted on 9/23/26 at 1:57 pm to TideCPA
quote:
$100,000 below the median home
What are you saying - it is a starter home. Should starter home prices be at or above median? That makes no sense to me. A starter home should be significantly less than the median price of a given area.
quote:
you have to assume that it's being purchased by a multi-earner household
Well, I could have come up with a similar number for a single earner household but that would require a more apple-to-apples comparison. Back when single earner households were more prevalent the median house size was a fraction of what it is today. I found 100 homes for sale in Nashville that are 1500 square feet or under that is less than 3.5 times the median income for the median salary of an hvac tech with 4 years experience in Nashville metro(the 4 years it takes to get an undergrad degree). Single earner buying an equivalent house to the 3.0X-3.5X earnings you point to.
Posted on 9/23/26 at 1:59 pm to JimEverett
quote:
What are you saying - it is a starter home. Should starter home prices be at or above median? That makes no sense to me. A starter home should be significantly less than the median price of a given area.
One of the issues with how crazy housing markets have gotten is the impact on "starter homes" especially in "hot" states like TN.
quote:
I found 100 homes for sale in Nashville
Where, though. I clearly don't see what you're looking at, but basically anytime someone plays this game on here the houses are rundown, in BFE, or in a terrible neighborhood (which plays into what I was referencing above)
Posted on 9/23/26 at 2:07 pm to JimEverett
quote:That depends. A "starter" home for a multi-earner household with two college graduates, as in your illustration, should not be significantly below the median, because they're already earning 1.4x the median household income. Does that not register? I'll say it again - as you illustrated, you have to make 1.4x above the median household income to comfortably afford a house significantly below the median.
What are you saying - it is a starter home. Should starter home prices be at or above median? That makes no sense to me. A starter home should be significantly less than the median price of a given area.
Posted on 9/23/26 at 2:09 pm to SlowFlowPro
quote:
Where, though
These are all under 420k and are starter homes
https://www.zillow.com/nashville-tn/?category=SEMANTIC&searchQueryState=%7B%22pagination%22%3A%7B%7D%2C%22isMapVisible%22%3Atrue%2C%22isListVisible%22%3Afalse%2C%22mapBounds%22%3A%7B%22west%22%3A-86.873769270274%2C%22east%22%3A-86.75017307886775%2C%22south%22%3A36.10528885591735%2C%22north%22%3A36.21200855471317%7D%2C%22usersSearchTerm%22%3A%22Nashville%20TN%22%2C%22regionSelection%22%3A%5B%7B%22regionId%22%3A6118%2C%22regionType%22%3A6%7D%5D%2C%22filterState%22%3A%7B%22sort%22%3A%7B%22value%22%3A%22globalrelevanceex%22%7D%2C%22price%22%3A%7B%22max%22%3A425000%7D%7D%2C%22mapZoom%22%3A12%7D
Posted on 9/23/26 at 2:11 pm to Tomatocantender
I hate to say I told yall prices were way too high. Sorry if it hurts you it’s just truth.
Hopefully yalls houses are paid off. I’ve preached living low etc and everyone spits in my face. Reap.
You don’t worry about 7% when you don’t need to the loan.
Rich getting richer. Smile.
Hopefully yalls houses are paid off. I’ve preached living low etc and everyone spits in my face. Reap.
You don’t worry about 7% when you don’t need to the loan.
Rich getting richer. Smile.
This post was edited on 9/23/26 at 2:13 pm
Posted on 9/23/26 at 2:13 pm to BBONDS25
quote:
7% is pretty dang good.
Not when prices are as high as they are.
You just don't understand this.
7% rates in the current environment is toxic.
Posted on 9/23/26 at 2:14 pm to hogcard1964
quote:
Yea, he has to fix this
Who, Trump?
What exactly do you want the POTUS to do to "fix" home prices?
Posted on 9/23/26 at 2:16 pm to SDVTiger
quote:
He brags hes got tons of money but has a paid off home
You sound selfish. What percentage of this forum do you think are high earners who max out all the retirement accounts available to them and have a paid off home? Not a high percentage I would say. You live in an 800 sqft cuckbox condo with astronomical HOA fees you can't lecture anyone on here.
Posted on 9/23/26 at 2:16 pm to SDVTiger
quote:
420k
quote:
starter homes
Posted on 9/23/26 at 2:17 pm to wackatimesthree
quote:
Who, Trump?
Trump said the rates under Biden were too high and his policies will lower them. Welp.
Posted on 9/23/26 at 2:18 pm to RobertFootball
quote:
No, housing prices need to fall 35-55% at the least.
Depending, that would equal a lot of middle class neighborhoods sliding toward slumdom with a quickness.
Posted on 9/23/26 at 2:18 pm to SlowFlowPro
quote:
If they bought an overpriced asset, this cannot be true. We don't apply this logic to anything other than homes, basically and that's why we're in this mess.
We don’t backstop GameStop because nobody sleeps in it and cities don’t budget off it. A house is shelter, a leveraged balance sheet, and the tax base. Call it overpriced,fine... Dumping it overnight still wreckspayers, banks, and towns at once... Other assets can clear. This one is load-bearing.
Posted on 9/23/26 at 2:22 pm to Stonehog
My first mortgage was 15.5% FHA on $62,000. The monthly payment was almost $900. So tell me more about how things were before you were born.
Posted on 9/23/26 at 2:22 pm to SlowFlowPro
quote:
anytime someone plays this game on here the houses are rundown, in BFE, or in a terrible neighborhood
That's because actual starter homes are often rundown, not in a convenient location, or not in the best neighborhood, or some combination of those three. That's what makes them affordable for people just starting out.
It's just that people under a certain age were given trophies for just showing up and told that they shouldn't settle for anything less than exactly what they want, so they don't understand that reality.
This post was edited on 9/23/26 at 2:37 pm
Posted on 9/23/26 at 2:23 pm to SlowFlowPro
quote:
One of the issues with how crazy housing markets have gotten is the impact on "starter homes" especially in "hot" states like TN.
What is a "starter home"? Is it a 2800 square foot home ins a safe neighborhood with great schools? Maybe I have a blind spot, but the starter home my wife and I had was an 1100 square foot 100 year old home in crime-ridden (but gentrifying) East Nashville. no way would we have sent our kids to the zoned school there.
So yeah, I don't expect starter homes to be in the best neighborhoods. Either they are in some places with high crime and bad schools or they are generally far away from city centers.
Posted on 9/23/26 at 2:26 pm to ronricks
quote:
Trump said the rates under Biden were too high and his policies will lower them. Welp.
Like I said, what exactly do you expect the POTUS to do about it?
He doesn't control the Fed.
I don't really care what he said, anybody with two working brain cells to rub together should have known he can't dictate the interest rates.
Besides, the post I responded to wanted him to lower prices, not interest rates.
Interest rates are still lower than they've been for the first 3/4s of my life.
Posted on 9/23/26 at 2:27 pm to JimEverett
quote:
What is a "starter home"? Is it a 2800 square foot home ins a safe neighborhood with great schools? Maybe I have a blind spot, but the starter home my wife and I had was an 1100 square foot 100 year old home in crime-ridden (but gentrifying) East Nashville. no way would we have sent our kids to the zoned school there.
So yeah, I don't expect starter homes to be in the best neighborhoods. Either they are in some places with high crime and bad schools or they are generally far away from city centers.
This guy gets it.
Posted on 9/23/26 at 2:37 pm to ronricks
What a delicious meltdown cause you know you are FOS
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