Posted on 10/23/2023 7:46:10 AM PDT by Kaiser8408a
The chances for interest rate cooling are already gone!
The 10-year Treasury yield rose to 5% for the first time since 2007 and the housing price bubble, and ensuing financial crisis and Great Recession.
Then promplty dropped below 5% again.
But at least the 30Y-2Y yield curve has turned positive.
And with rising rates, housing affordability is at a record low.
Housing prices are expected to decline later this year, but rebound in 2024.
Its another cheap tequila sunrise under Bidenomics!
But we have video of Biden and his wife Jill walking along the beach on yet another vacation to Rehobeth Beach, Delaware while the world teeters of WWIII, over 200 hostages are still held by Hamas, and housing affordability hits an all-time low. It must be nice not to care.
The most empathetic President in history, my ass.
(Excerpt) Read more at confoundedinterest.net ...
Who is?.....................
Bought my house 15 years ago at 3.9% interest. Was curious what a refinance would look like now. Was quoted 7.8%. Not gonna happen.
My house is at 3.6% and the mortgage holder keeps sending me emails asking me if I want to re-fi. What are you? Insane!
Sometime soon folks are going to have to look squarely in the face the reality that there is no fix. Nothing can be done.
The direction of the future is down.
People will delude themselves about that and imagine someone has an answer. Wall Street as an industry is predicated on the belief that someone is a guru and has answers.
No one does. Not on Wall Street. Not in government. The mistakes made are now too large to fix.
Ever.
The elephant in the room is the fact that it’s foreigners driving up the prices of housing and lowering the supply for Americans.
Bookmark
> The direction of the future is down. <
I will say that you’re wrong once someone explains to me how Congress is going to pay back the federal debt.
Until then, I will say that you’re 100% correct.
In 1981, the fed pushed mortgage rates all the way up to 19% to break inflation.
If it ever gets better, it is going to get much worse before it does. Best case, we are looking at sky high interest rates and a prolonged deep recession. Worst case, we are looking at Venezuela style hyperinflation.
We are at retirement age (with no plans to retire) and trying to figure out where we can have invest what we have so that we actually can retire someday.
I am a real estate investor and I run the numbers of investments all the time and I have never in my life seen worse numbers than now.
Nothing is profitable or even just a sort of bad investment, they are all God awful investments.
You point shows why housing is so tight. People do not want to increase their housing price unless they are forced due to relocation.
https://treasurydirect.gov/auctions/announcements-data-results/
17 and 26 week TBills are [paying 5.35%
AND the illegals are getting free housing paid for by taxpayers and Soros types. All while democrats complain about a lack of “affordable housing.” 10 million illegals a year have to live somewhere. Are we building 10 million housing units a year??? Not likely.
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