That’s how we got into this mess in the first place!........
I can tell you that here in Long Island, houses are now being snapped up very quickly.
I have a colleague who (with his working wife) saved $80,000 to put a down payment of 20% for a house in the Nassau-Suffolk Counties. Mortgage interest rates are at a ridiculously low 3.9%.
Everytime he see’s one house that he likes, it already had an offer which the seller accepted ( with a second backup offer in existence ).
He recently found a house he liked and he and his wife quickly gave an offer which the seller agreed to. Problem, he forgot to sign an agreement. Another buyer offered $10,000 more than his offer which the seller favored.
The other buyer (whose offer was accepted ) got a loan from a bank with only 3% DOWN !!!
We’re back to the bubble economy once again !!!
“That’s how we got into this mess in the first place!........”
Yea, but the community organizer will be a hit with the low information crowd now and it won’t cave in until the next administration and that poor slob will get blamed.
If at first you don’t succeed (in destroying America), try, try again.