Posted on 04/18/2022 5:38:52 AM PDT by Browns Ultra Fan
Fortunately, I refinanced my home mortgage while Trump was still President. When Biden was installed as President, the 30-year mortgage rate was 2.88% (according to Bankrate). It has now risen to 5.25%.
The Federal Reserve is now expected to raise their target rate as much as 50 basis points at the next meeting on May 4, 2022. This chart shows the anticipated rate hikes coming our way, peaking in summer 2023.
The good news is that the US Treasury actives curve is upward sloping, but is showing fatigue in the forward rates between 7Y and 10Y.
On the hard asset front, precious metals are up over 1% with silver and platinum leading the way.
(Excerpt) Read more at confoundedinterest.net ...
The main reason I do not see the crash of 2008 is because of the housing shortage right now. In 2008 there were 20 million less illegals.
How many homes and apartments have been built since then?
Mexicans live like 15 to a house.
Curses Trump & Putin!
my first mortgage was 15%....I survived
Not enough homes were built. Illegals today expect and are elligible for more. Rentals are being stretched too. Lots of competition to rent...many people renting and buying online sight unseen.
I was just making that point to Mr. GG2. In Atlanta we have a shortage of houses especially in the $300,000 price range which is our neighborhood. Not one house for sale at the moment. We expect to sell in one day when ours goes on the market.
They do know better. It’s deliberate, on purpose, by design. This is BO’s 3rd term of Anti-American policies. When one realizes that, it all makes since! They want to continue destroying the country to third world status.
The past is not necessarily indicative of the future.
What was your salary to total home buy percentage?
What were the costs of fuel and food relative to now?
It is a great time to be a seller. I love the sound of a bidding war in the morning!
However,I am affected by The Big Guy's handlers. The equity I have in my house represents a substantial portion of my net worth and these rates mean that my place is worth a lot less than it was when rates were 3%.
Blackstone sure has been buying up a bunch.
In many places in the country now a single family existing house is over $500K. A new construction 2000 sq ft home in that same area is over $650K. So, unless you are moving from an area even more expensive than that, a single family house is unaffordable based on 5.25% mortgage rates. So, there are going to be less people moving to some places in the country.
People will continue to move south. Less will be moving to Boise now that the price of a house in Boise has doubled in the last four years. Even though the current price is still cheaper than SanFran or LA.
Same story here in NH. We have had a major influx from the NYC/NJ/CT area into NH. That will slow down to some extent because the price discount is not as large as it once was.
People are still going to move to TX, FL, SC, AZ, NC and other snowbird locations. The baby boomers are still retiring for another ten years.
The illegals thank Blackstone.
Inflation is already preventing many from buying a house.
Nice neighborhoods are going to have some rude awakenings.
A nice family of four suddenly gets 12 Mexican roofers next door that get smashed every night on Tecate…
You can’t hide $9 trillion. The Fed is 18 months behind the curve.
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