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Message
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Posted on 10/22/22 at 7:50 am
Posted on 10/22/22 at 7:50 am
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This post was edited on 8/11/23 at 11:02 pm
19
Posted on 10/22/22 at 7:51 am to MrLSU
The market should decide interest rates.
Posted on 10/22/22 at 7:51 am to MrLSU
Hello 1970s!
Posted on 10/22/22 at 7:56 am to MrLSU
Biden got recessions, high gas prices, inflation, botched endings to international conflicts all checked off. Now add double digit interest on home mortgage rates.
What's left? I guess double digit unemployment rates.
What's left? I guess double digit unemployment rates.
Posted on 10/22/22 at 7:57 am to East Coast Band
quote:
What's left? I guess double digit unemployment rates.
Well it’s what 81 million people voted for so they get to enjoy their spoils of victory now.
Posted on 10/22/22 at 8:00 am to MrLSU
Mortgage payment of ~$2200/ at 10% is a $250k loan
A year ago a mortgage payment of $2200/ month at 2.75% was a $530k loan.
Loss of $280,000 buying power.
Bye bye McMansions
A year ago a mortgage payment of $2200/ month at 2.75% was a $530k loan.
Loss of $280,000 buying power.
Bye bye McMansions
Posted on 10/22/22 at 8:02 am to MrLSU
And if the GOP takes Congress in 3 weeks, even though the new Congress isn't even seated, you can bet your arse Biden and the media will be blaming Republicans
This post was edited on 10/22/22 at 8:04 am
Posted on 10/22/22 at 8:03 am to MrLSU
Does that mean that "Billy Beer" will make a comeback.
Posted on 10/22/22 at 8:04 am to MrLSU
Let’s go Brandon !
Posted on 10/22/22 at 8:12 am to East Coast Band
quote:
Loss of $280,000 buying power.
Been trying to explain this to the zoomers on the OT for years. They don't get it.
Posted on 10/22/22 at 8:13 am to East Coast Band
quote:
I guess double digit unemployment rates.
Already there when the so-called discouraged workers number is included, as it was back in the 70s
This post was edited on 10/22/22 at 8:14 am
Posted on 10/22/22 at 8:14 am to RogerTheShrubber
Just shows that the $450k houses should really be like $300k
Posted on 10/22/22 at 8:17 am to East Coast Band
Some big corporations should just pay cash for the properties and then rent them out to people who can’t afford to buy. Oh, wait.
Posted on 10/22/22 at 8:27 am to MrLSU
I feel bad for many people in this current climate but a correction was way overdue.
House sizes and purchase prices have become comical.
Even vehicle sizes and purchase prices are comical.
I hate how we got to this point and I fear for what is in our future - but unless we all feel pain for a decade or more - the whole thing blows up in an instant. Money is not free or should not be.
House sizes and purchase prices have become comical.
Even vehicle sizes and purchase prices are comical.
I hate how we got to this point and I fear for what is in our future - but unless we all feel pain for a decade or more - the whole thing blows up in an instant. Money is not free or should not be.
Posted on 10/22/22 at 8:48 am to MrLSU
I doubt we’ll be at 10 by January, but I agree that we’ll be there later next year.
Posted on 10/22/22 at 8:50 am to MrLSU
Maybe I'll finally stop getting refi junk mail.
Posted on 10/22/22 at 8:52 am to Lou Pai
quote:
Maybe I'll finally stop getting refi junk mail
It'll get worse.
I refinanced from a 30 year at 4% into a 15 year 2.35% in February 2021. You know my bank is fricking hating that loan right now. I get "cash out" refi offers all the time and I expect it to get worse.
Posted on 10/22/22 at 8:53 am to MrLSU
Backdoor neighbor has been thinking of moving to the country for several years. Let his house get run down a bit. Could have been ready when the market was hot but slow walked the renovations and is now listed in the $325 range. Not sure that they have even shown it. Probably needs another $10k work in the backyard because they have done absolutely nothing to the trees since they lived there. Glad they're gone and don't care if they ever sell.
Posted on 10/22/22 at 8:53 am to Eli Goldfinger
HELLO JIMMY CARTER!!!!!!!!!!!1
21.5% prime interest rate
14.4% inflation rate
70% top tax rate! YAY!
21.5% prime interest rate
14.4% inflation rate
70% top tax rate! YAY!
Posted on 10/22/22 at 8:54 am to MrLSU
quote:
interest rate to hit 10% in Jan on 30 yr fixed mtg
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