Posted on 03/23/2022 6:59:23 AM PDT by Browns Ultra Fan
The demand is going to crater.
The demand does not go away.
I will make this observation though. I was in Mongolia after the demise of the Soviet Union. All the state run housing in the rural areas were empty and stripped. People moved to yurts. Land was free and no private ownership. Horses become important for wealth again as land and grass was free.
In the capital the public housing stayed in place. utilities were only on 6 hours a day and rotated in the city.
The only reason those utilities were on was because of our foreign aid. We wanted allies there. Almost every sign on main street was in English. Now those signs are in Chinese.
$25 min-wage... right?
High interest rates are needed to kill the inflationary impetus and momentum.
And yes, carnage would result.
Kevmo wrote: “My solution is Tenancy in Common, Space Assigned Common Ownerships [SACOs]”
Exactly how would that affect anything other than condo’s?
You’ll need to read up. I can walk you through it but you will want to come up to speed at some point.
I am sure Bidung will order more section 8 to be built in well maintained and cared tor neighborhoods to drastically drop value everywhere except gated communities with lots of dem donors
Where are people going to live? Where are they living now? When I say demand is going to crater, I’m not saying the desire will crater. I’m saying people’s ability/willingness to pay anything like the prices sellers are demanding now will crater. They simply won’t be able to afford it.
Clearly, the only possible solution is Mortgage Loan Forgiveness.
(/s)
My daughter and her husband had been looking for a house closer to her job in Palm Harbor, Florida. Instead they moved to a larger apartment in their current complex, gaining a much needed third bedroom and putting them on the ground floor, thus saving me from having to climb three flights of stairs when we visit! They are hoping they will be there for just another year.
I’m predicting mortgage rates will peak at 10% by end of the year.
No. There will always be demand by someone. You can count on the Californians and NE people to sell and move to the SE.
We disagree here. There are a lot of people - particularly first time home buyers who won’t be able to buy if they get much poorer which inflation is already doing and a recession would do even more.
That’s pretty smart. I wish we were that smart.
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