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Posted on 9/22/22 at 12:02 am to LSUnKaty
quote:
When I bought my first house we scoured the newspapers to find a rate in the 7% range and that was the absolute lowest you could get. I remember 7+% treasuries, and double digit inflation. We all survived.
Home prices were not close to a relative comparison as today.
My older brother’s first home was 60k back in 1983 at 10%. He and his wife combined income was about 35k per year.
Today, the same home is about $300k.
This post was edited on 9/22/22 at 12:03 am
Posted on 9/22/22 at 12:53 am to BestBanker
quote:
While doing some research I read that Chi-nuh lowered their mortgage rates recently, as ours increases.
China is fricksville - think about the fact that you take out the mortgage first in China and then the developer builds out the property. There are millions with mortgage payments and no house. Never built. Think about that nightmare
Posted on 9/22/22 at 1:20 am to the_truman_shitshow
But can you diagnose a Tampa 2 presnap and audible to twin seam routes without tipping your hand to their Mike linebacker?
Posted on 9/22/22 at 6:47 am to LSUnKaty
quote:
Let's get some perspective here. When I bought my first house we scoured the newspapers to find a rate in the 7% range and that was the absolute lowest you could get. I remember 7+% treasuries, and double digit inflation. We all survived.
Are you seriously comparing economic circumstances from decades ago?
Why should you be taken seriously?
Posted on 9/22/22 at 7:37 am to jimmy the leg
quote:
Are you seriously comparing economic circumstances from decades ago? Why should you be taken seriously?
Because he’s experienced what you never have. Your a condescending a-hole who instead of listening to people with experience, you talk down to people like they have never lived your struggles.
I remember my first home loan was 5%.
Posted on 9/22/22 at 8:11 am to the_truman_shitshow
quote:If treasuries stick at 5%, cost of carry for our national debt will run $1.5T/yr.
Simply put, the higher the yield, the higher borrowing costs on debt, such as consumer loans and mortgages.
What does this mean?
The US runs large deficits, with federal revenues running about $4T/year. There really is no recovery from an added $1T/yr in borrowing cost over current levels.
It's the chief reason Powell is so desperate to pare back inflation.
Right now inflation is supply chain driven, at some point, an exploding M3 aggregate has to catch up with us. When that happens, it will be even worse.
Posted on 9/22/22 at 8:13 am to NC_Tigah
quote:
It's the chief reason Powell is so desperate to pare back inflation.
Can we all please say it openly now that Powell's policy with these incremental rate increases is the equivalent of pissing on a forest fire after downing a couple of beers? I mean come on. We're screwed.
The Fed is a laying down a mattress in preparation of a meteor strike. There's your "soft" landing.
This post was edited on 9/22/22 at 8:16 am
Posted on 9/22/22 at 8:17 am to LSUnKaty
When rates are high housing prices are lower. When rates are low housing prices are higher.
It is the affordability of the monthly payment that drives the market.
Something has to give.
It is the affordability of the monthly payment that drives the market.
Something has to give.
Posted on 9/22/22 at 8:26 am to Taxing Authority
quote:
In just a free years debt interest, social security, and medicaid will be 100% of tax revenue. All other spending will have to be borrowed. We’re f*cked.
We are either going to default outright, or more likely, default by inflation. Get ready to tip with $100s.
Either way, I think we are going to get that WEF Great Reset. I suspect we are going to find out that it is a lot easier to destroy something than to rebuild it.
Anybody remember Kerry's statement as soon as Biden stole the election?
quote:
“And yes, it [the Great Reset] will happen,” Kerry continued. “And I think it will happen with greater speed and with greater intensity than a lot of people might imagine. In effect, the citizens of the United States have just done a Great Reset. We’ve done a Great Reset. And it was a record level of voting.”
LINK /
Posted on 9/22/22 at 8:27 am to beebefootballfan
quote:
Because he’s experienced what you never have. Your a condescending a-hole who instead of listening to people with experience, you talk down to people like they have never lived your struggles.
I bought my first home at 6.8%.
quote:
Your a condescending a-hole
Posted on 9/22/22 at 9:33 am to the_truman_shitshow
Historic surges in T- Bill increases and the 30 Trillion ++ in debt US $ continues to strengthen despite another 100 Trillion + in unaccounted for future liabilities.
Posted on 9/22/22 at 10:24 am to anc
quote:It is happening right now. Doing their best to disguise it.
We have Treasury yielding 4.1%. If it hits 5, investors will move money out of the market and into safer T-bills.
Posted on 9/22/22 at 12:48 pm to jimmy the leg
That's right - it's all different now. History teaches us nothing.
Posted on 9/22/22 at 2:49 pm to LSUnKaty
quote:
That's right - it's all different now.
All - no.
Drastically different - yes.
quote:
History teaches us nothing.
Context matters with the lesson.
You do you though.
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