Posted on 04/26/2022 3:26:48 PM PDT by Browns Ultra Fan
US existing home sales in March were expected to fall -0.6% from February, but they actually fell -8.6%. This is happening at The Federal Reserve is signaling tightening and mortgage rates are rising rapidly.
I think the above chart says it all.
(Excerpt) Read more at confoundedinterest.net ...
It’s been impossible to find a reasonably priced home or condo. People are afraid that if they move they will be stuck renting, and today that sure is expensive.
The only new houses being made sell for at least a million, minimum. And this is in one of the least expensive markets in the country.
The only thing the Fed has done right is to begin to raise interest rates.
You cannot have 0% rates without inflation.
There’s too many buys with fewer homes…by design. You’ll own nothing and be happy.
So, you will be paying more on mortgage loans. Well, back several years ago, I started out paying around 8% in mortgage interest when wages were low, but the economy then was better than now. Also, does the rise in interest rates mean an equal rise in savings interest? Have’t heard anything on this.
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