[alexander_busek]

Hurrah for lower purchasing costs! For more-affordable housing! (Esp. if you can pay in cash and thus don't care about mortgage interest rates.)

Regards,

[Deo volente]

But...I thought Bidenomics was the greatest ever, all rainbows and unicorns!

What happened to 2% mortgage rates?! Oh yeah, that was Trump.

[glorgau]

It’ll take just one of these large “investors” dumping their properties to get the ball rolling in the down direction on price.

Re: The movie “Margin Call”.

[voicereason]

It’s already in a slowdown. Was at a conference last week with a host of supply chain professionals, and this seemed to be the consensus. They are buying less, forecasting less, and the UAW strikes will certainly ripple throughout the supply and impact the Tier 1 and 2 suppliers.

B7ckle up...the government has been disavowing the inevitable for far too long.

[Carriage Hill]

From 1.95% to 7.18%... I wonder why it’s tanking?

[Newtoidaho]

Bidenomics: high inflation + high interest rates + rising unemployment.

Carter gave the country the misery index.
What do we call this disaster?

[Fido969]

Banks are stuck getting bled for the 3-4% long term mortgages.

[CodeJockey]

Rates go up and rates go down.

When they were up I was paying probably around 8% on a mortgage, and really did not have a lot of savings. Not good for me.

When they came down I had my home paid for and still not a lot of savings. Still did not work for me.

Now that they finally gone back up I do not have a mortgage but have a lot more savings (thanks Dad). So finally I get some relief from the rate roller coaster. Zero debt and 5% on savings a little more CD’s.

Really just depends on your place in life.

[GOPJ]

Young people - don't even think about getting a second job to buy a home. That won't work. Why? Biden and his filthy democrats are getting all those 'second job jobs for illegals - paid under the table below minimum wage.

And if anyone complains?

Biden and his goons will stick the DOJ and FBI on YOU - - call you a 'domestic terrorist' and try to get you fired or ruined. Just ask Elon Musk... the goons want to 'set an example' so we're all afraid. President Sniffer and his creepy democrat thugs.

[FLT-bird]

The part they didn’t mention is that prices skyrocketed. In the Charlotte area they increased 66% in two years.

Then interest rates increased from 1% to 7%.

So the same house that would’ve been roughly $300K two years ago is now on the market for about $475K and factoring in interest rates, if you put down 20%, your monthly note on a 30 year mortgage went from about $1500/month to about $3000/month.

A lot of people cannot afford a massive price hike like that. A lot of people who can afford it refuse to pay it because they know its massively overvalued. Until a lot of that massive price increase is given back, sales are going to be abysmal.

[Georgia Girl 2]

The market is still hot in metro Atlanta.