Housing market

[BABMusic]

Who is this ‘lower 80%’ you speak of? Home values increasing is a good thing—you know that right?

lol, no, it's not. Not sure if you were serious or trolling.

 

[tallcoolone]

Thanks for the reply, from what I understand he is staying as a fed governor so he can continue to influence his peeps.

He’s doing that until Trump drops the investigations against him.

 

[Geo]

He’s doing that until Trump drops the investigations against him.

I thought they did that already. Didn't Judge Janine do that already? I bet he stays for at least the next 2 years.

 

[tallcoolone]

lol, no, it's not. Not sure if you were serious or trolling.

Tell me you don’t know basic economics without telling me you don’t know basic economics. So you are hoping the US housing market tanks so you can better afford a new home lol?

I thought they did that already. Didn't Judge Janine do that already? I bet he stays for at least the next 2 years.

I really hope not. I’d love to see rates dip back below 3–we’ll see more inventory and more buyers.

 

[Geo]

I really hope not. I’d love to see rates dip back below 3–we’ll see more inventory and more buyers.

Good for the real estate markets and bankers, bad for everyone else.

 

[tallcoolone]

Good for the real estate markets and bankers, bad for everyone else.

Why do you think this? For most families, their home is their biggest asset

 

[BABMusic]

The artificially low interest rates created the bubble in housing, as it did in 2006, and as it did from 2012-2022. That works out great for those who bought in 2012, as those prices were the actual real value of the home. It works out terribly for those who bought in 2023 at the top of the market and now they can't sell. Those who saved properly were better positioned to buy a home in 2009-12. Those who got caught up in the mania and bought in 2005-2007, well, some of the rode it out, and others committed suicide.

Homes used to remain consistently priced for 100 years at the rate of inflation.

 

[Geo]

Why do you think this? For most families, their home is their biggest asset

Lower rates weaken the dollar and increases inflation. I would like to see 19%, but I will do fine either way.

 

[BABMusic]

Lower rates weaken the dollar and increases inflation. I would like to see 19%, but I will do fine either way.

The scary thing is, 19% would probably not be enough to solve the real inflation problem. Can you even imagine what would happen to our "economy" if we did raise them to 19%? I'm in agreement with you, but we live in a world now where the Fed is trying to make recessions impossible.

 

[Geo]

The scary thing is, 19% would probably not be enough to solve the real inflation problem. Can you even imagine what would happen to our "economy" if we did raise them to 19%? I'm in agreement with you, but we live in a world now where the Fed is trying to make recessions impossible.

We are certainly in a pickle but wouldn't it be nice to reward the people who were responsible with their money and not just keep papering over problem?

 

[tallcoolone]

The artificially low interest rates created the bubble in housing, as it did in 2006, and as it did from 2012-2022. That works out great for those who bought in 2012, as those prices were the actual real value of the home. It works out terribly for those who bought in 2023 at the top of the market and now they can't sell. Those who saved properly were better positioned to buy a home in 2009-12. Those who got caught up in the mania and bought in 2005-2007, well, some of the rode it out, and others committed suicide.

Homes used to remain consistently priced for 100 years at the rate of inflation.

So many strawmen! Dead suicidal strawmen too!

Anyone who can’t make money on a property they bought in 2005 isn’t trying.

 

[tallcoolone]

BTW the bubble you are talking about happened due to predatory lending practices which allowed for non qualified buyers to get access to money they shouldn’t have. Not low rates.

 

[VonBonfire]

Prices are all over the map here. Trying to price my place for sale accurately is like taking shots in the dark.

 

[JackTripper]

Mortgage rates mirror the 10-year Treasury because most 30-year loans get refinanced in the first decade. The Fed does not control bond rates (directly), investors do based on inflation expectations.

If the Fed lowers short term interest rates today, that still will not change inflation expectations in an environment where energy prices are rising. Mortgage rates will likely remain where they are through 2027

 

[tallcoolone]

Prices are all over the map here. Trying to price my place for sale accurately is like taking shots in the dark.

Why a good experienced local realtor is invaluable.

 

[Geo]

BTW the bubble you are talking about happened due to predatory lending practices which allowed for non qualified buyers to get access to money they shouldn’t have. Not low rates.

Bailing out these criminal bankers was one of the biggest mistakes our gobernment ever made. And one of the reasons we can't raise rates.

 

[tallcoolone]

Bailing out these criminal bankers was one of the biggest mistakes our gobernment ever made. And one of the reasons we can't raise rates.

Yes absolutely. In 2004-2007 with a 720+ FICO score you could get a stated income no doc loan. Meaning all you had to do was promise you had money and would pay. Insanity.

 

[VonBonfire]

Why a good experienced local realtor is invaluable.

They don't really exist in numbers in TX-FL for the most part. Most of them just want a quick sale for their commission....the last realtor I dealt with tried to under price me by 75,000 dollars.

 

[tallcoolone]

They don't really exist in numbers in TX-FL for the most part. Most of them just want a quick sale for their commission....the last realtor I dealt with tried to under price me by 75,000 dollars.

Don’t know TX but you are def right in FL. Which is why my wife got her license down there. So many ‘part time’ realtors out there just trying to make a quick buck.

 

[VonBonfire]

Don’t know TX but you are def right in FL. Which is why my wife got her license down there. So many ‘part time’ realtors out there just trying to make a quick buck.

I've lived in both states about an equal amount since 2003. Real estate wise TX is not much different than FL. Idiots and grifters and dopes doing it to have a job but have no real business being in real estate. Everyone who lives in FL is either a bartender, a realtor, or a boat captain and sometimes a couple of those.