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 ...
Yes, we all survived(mine was 10.375%). The point is that my first mortgage was $100K on a $125K house in 1990.
Today that same house is $413K. I would have to put $83K down for 20% and then finance $330K. I would not be able to afford the payment. Even at 5.5% interest.
Probably 40 MILLION.
We stop ALL immigration, let wages go up, or we have Democrat regimes forever.
The remaining wealth and tax base in Northern blue states is headed South rapidly. Short-term survival will require those blue states to go full Stalinist - for a few final years.
It is not just Blackstone. There is also Fundrise, Crowdstrike and several others. They have made it very difficult for the small real estate investor to buy rental houses in many parts of the country. Especially, when they come in with all cash offers.
Yup. Also record amounts of Indiam people buying here. Most have great jobs and great credit but are not us citizens. They come here to work, bring the wife, have a baby or two and then here come the parents.
It’s not a great time to be the parent of young adults who did all the right things but are getting shafted out of the housing market.
Fixed it.
There is a need to close the border and deport 1 million illegals. The other 12 million will self deport.
Thank you!
It’s headed that way, Obama destroys the USA to a third world status!!! Fake, Illegal, Useless, Democrat, POTUS, Joe Biden takes fours days off a week, Friday, Saturday, Sunday & Monday!!
This past weekend, Buffon, Democrat, Joe Biden hosted the entire criminal, crooked, Biden family, led by USA Navy Reject, Drug Addict, Woman Abuser, Criminal Biden’s son Hunter,and the rest of the Biden scum & vermin humanity family.
Wise up, Wake up fellow Americans...how dumb & blind, can you be....Joe Biden and Hunter Biden and Jim Biden are nothing but the lackeys, tools, servants, Traitors, Turncoats in the 100% of loyalty to Russia, China & Iran...period!!!
Sad coming days for the once great USA!!!! The Statue Of Liberty, weeps for the lost Freedoms, Opportunities, Liberties, Equality of the once proud American people!!!
Go Trump...Massive Political Rally this coming Saturday, April 23rd, 2022 being held at “Delaware County Fairgrounds, OHIO” Go onto to Trump Web Site for more details and to request two(2) free tickets to this event!!! Tens of thousands of Trump Supporters expected to attend!!! “BE THERE”!!!
I don’t disagree with you. That is until real estate prices equalize out. For example, my brother in law and sister in law moved from NH to Pauly’s Island, SC seven years ago. They originally bought a house for $240K. They remolded that house and lived there for four years. They built a new house a couple years ago. It was $650K. Their original house is now over $400K. So, the price discount from NH is not nearly as much as it once was.
SC is still cheap in comparison to NJ, CT and other more expensive states. The same story goes for FL. Ten years ago you could buy a house on a canal on the west cost of FL for $400-500K. Now those houses are $800K-$1 million. Florida is not cheap anymore.
What covid did with peoples ability to work out of the house anywhere in the US where they had an internet connection was equalize real estate prices. So, there is not nearly as huge of price differences as there once was between locations.
Hey Georgia Girl,
Same here in Athens, GA. The market is crazy. The guy across the street sold his suburban home in less than a week. Prices are way up. But I’m thinking the interest rate knock down the price soon.
Go Trump! Hang on, he’s coming!
I've been a resident of Valley Ranch for over 25 years. These two burbs have become a destination for thousands of "South Asians".
Our local ISD is now 60%+ Indian.
Housing prices in places like Charleston SC have fouled, even tripled in the last few years. Good luck finding anything, if you can even find a home, for under 1 million. And in the Cgarejstin area, they are building everywhere. It’s the same everywhere except NY, SF, and LA.
Actually, real estate prices and rents have been increasing substantially in NY and it’s suburbs and said areas were pricey already - it’s just that there is nowhere to build anymore barring changes in zoning.
Anyone who is long on real estate in their portfolio should be smart enough to hold for the long haul rather than whine about a crash (as a crash always happens in RE and indeed all investments).
Anyone who is long on real estate in their portfolio should be smart enough to hold for the long haul rather than whine about a crash (as a crash always happens in RE and indeed all investments).
I’m not sure it will, at least not yet. People are trying to escape places like DC, NY, etc. Just heard that Federal Government works in DC will NOT be going back to their offices-ever. They will all be allowed to work from home, and that includes working from home in another state. Meetings will be Zoom. I asked what will happen to all of the figure buildings and it is syndicated they will close as they will be mostly empty. These workers will be moving all over the country as not many like DC, it’s very expensive. They can take their Nassim salaries, benefits, and pensions and go somewhere cheap and bank your tax dollars. Uhh.
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