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Posted on 08/08/2025 7:24:14 AM PDT by Angelino97
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Lower interest rates help the young and hurt old farts. What’s new?
I’m never sure myself.
Lower interest rates help savers, and hurts spenders.
The price drop is coincidentally just about the same as my property tax increase….
“You’re assuming we will suddenly be responsible and pay off the debt. History shows otherwise.”
I am assuming nothing.
I am going with Trump’s proven plan.
No, they do not.
This is the lie that the central banks keep selling to us. Higher interest rates protect the central banks from inflation, if they keep their loan portfolios current.
The second-tier banks with holdings in long-term bonds or lower interest loans are screwed by rising interest rates, of course, unless they payout close to zero interest on savings accounts. Which is what they do to protect themselves.
The rest of us get screwed by inflation. Well, excepting people who have jobs funded in some way by the government and belong to a favored class of voters.
The fundamental cause of inflation is government spending, funded by debasing the currency.
This is what happens when ‘free money’ aka 3% mortgage rates are handed out like candy.
The price of housing skyrockets and the buyers of these $800,000 mediocre homes are now locked in and cannot sell.
those data are far far far far from any sort of “Crisis” in housing prices
minor dips always occur and most of these are under 1 percent, for Heaven’s sakes that’s well within the measurement error
the only significant price drop (of some 6 pct) is shown for Oakland, CA. Most of Oakland is a dangerous cesspool. It was once a quite nice and reasonably safe city, but those days are long long gone in major parts of town. Most Californians try to avoid even driving through Oakland (though it is not always possible to “go around the safe way” because of the geography). Oakland prices saw a spurt of speculation (lots of foreign money flooding into California Real Estate) ... but some of those funds are going elsewhere now, Ergo the 6 percent is pretty much understandable.
Yes, low interest rates result in Congress spending more money on worthless programs.
Politicians love to spend other people’s money.
A year or so ago I saw small old houses in Bend Oregon going for $700,000
It is almost as if some portion of the demand were removed.
In my neighborhood, that looks right, except for in 2014 it would’ve been closer to a $500 K purchase.
There’s one house in our neighborhood for sale that has been sitting for almost a year now. Vacant as of last October. It was purchased in 2022 at a very high price. Those owners made out like bandits.
We think it was a corporate purchase when the most recent owners left. Whoever it is started the listing WAY too high. Now months later, the word is out. It badly needs updating on the inside, and people can find better yards elsewhere in the neighborhood.
I expect that if it’s sold anytime soon, it will be for at least $150 K less than they started asking for it. They won’t break even. I think it will sit for another half a year unless they really lower the price and a family with kids is desperate. School has already started here.
Yep. Especially in Florida where dirt-cheap homes were the tradeoff to endure Florida's summers (which last from March-November), hurricanes, alligators, and giant cockroaches.
And this was pretty much the arrangement until Covid hit.
Where do you live when you consider a home that costs $800K is mediocre? That’s a very nice home where I live. 6500 sq Ft on a couple of acres, at least.
Daughter lives in Bend. The houses there are even a bit higher than that now.
Noticed that
In a sane world, a house in Oakland would be less than $100,000.
I wish it was happening in NOVA. The fired employees are hanging around, waiting for the next administration to see if they can return. Their interest rates are too low and they don’t want to give those payments up.
A 1% pullback in Ft. Lauderdale hardly could be interpreted as “tumbling”.
Who writes this crap?
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