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I don't think they're going to go down until the cost of houses drop.
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Economy US Inflation falls below 5%, lowest 2 in years
- Thread starter Queen B
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To be fair, mortgage rates have been historically low most of your adult life.
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The Housing market is starting to slow, but prices aren't dropping... yet. Who knows if they will.
- Buyers don't want to jump in with these interest rates
- Potential Sellers are hanging on because they likely already have a very low interest rate mortgage and don't want to refinance a new home at these interest rates. And they're not desperate enough to sell their home below their perceived market price.
Anyway...
There's articles starting to come about young adults not moving out like we did and saying that it's not necessarily a bad thing.
Nearly Half of All Young Adults Live With Mom and Dad — and They Like It
https://www.bloomberg.com/news/arti...oung-adults-are-living-back-home-with-parents
I'll be honest... I'm divorced and not planning to get married again... (I'm just a man-whore and dating
)My twin girls are 15 and live full time with me. They're welcome to stay with me long enough to get through school and/or until they figure out their life path. I don't want them to rush into anything and settle.
However, those turds will be paying Dad rent after High School.
lol...
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Does Joe Biden count new OnlyFans accounts as "Jobs Created"?
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I don't see why housing prices would go down.
People would either have to suddenly not have enough money to continue paying their mortgage or supply would have to be ramped up a ton. Neither is going to be happening without something huge happening to the market.
People would either have to suddenly not have enough money to continue paying their mortgage or supply would have to be ramped up a ton. Neither is going to be happening without something huge happening to the market.
I'll be honest... I'm divorced and not planning to get married again... (I'm just a man-whore and dating
My twin girls are 15 and live full time with me. They're welcome to stay with me long enough to get through school and/or until they figure out their life path. I don't want them to rush into anything and settle.
However, those turds will be paying Dad rent after High School.
lol...
Forcing your kids to pay you rent once they turn 18 is disgusting tbh
setting your kids up for failure
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Agreed. My parents let me live with them for free as long as I was saving money. I always drove an older used car, worked fulltime and had one or two part time hustles to make extra cash. I worked as a bouncer at night clubs so it gave me the experience of being out while making some money instead of spending it. I was able to buy my house for cash after the real estate market crashed when I was 27. Now it's worth double and I use a HELOC to finance other projects.
My kids will do the same. If your kids aren't responsible, charge them rent and put it in a risk adverse investment account for them until they're responsible enough to buy their first home.
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Since housing and services are the drivers of the current high inflation, seems like the whole thing could be solved by shutting down immigration and closing the border. Less people solves both those issues.
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Some say he never left...
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Lol that is true, but I need them now LOL!
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They never left. Let's just say that they're a more...sinister poster now.
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PNC Bank (local to Pittsburgh, 5th largest in the nation I think) just did a large layoff. Some estimate it was around 10%. They pointed to the economic outlook as one of the major factors. I wonder if other banks will be doing the same soon.
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Unfortunate for you, but fortunate for the rest of us, normalizing interest rates is for the best long term.
Also I was able to get my refi done at like 3-4% on a 20yr.
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Yeah but when mortgage rate were at what they are at now in the past, house prices were substantially lower. Now we have high mortgage rates combined with insane house prices and it doesn't look like they will be going down much.
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Unfortunate for you, but fortunate for the rest of us, normalizing interest rates is for the best long term.
Also I was able to get my refi done at like 3-4% on a 20yr.
Nice haha smart. In the meantime I'm looking at other investment opportunities since housing isn't it right now. For as much heat the economy gets I don't know, it's doing right by me lol so no complaints over here haha.
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This goes both ways though. The house I'm renting now I'm renting it out to tenants for almost 3k a month, and taking home $800 a month on the profit end. That would be able to happen if everything was lower/cheaper everywhere.
People love to ignore that part lol
imagine comparing a 5% interest rate on a 50k home to a 2%(which is like 4.5% now) interest rate on a 800k loan.
