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Existing-home sales

Discussion in 'News & Current Events' started by Salty, Nov 22, 2022.

  1. Salty

    Salty 20,000 Posts Club
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  2. JonC

    JonC Moderator
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    Mortgage rates are way up.

    Average today is 7.408%. Last year it was 2.65%.
     
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  3. Reynolds

    Reynolds Well-Known Member
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    That's what Democrats do for you. I want to see 22 to 25% rates.
     
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  4. Van

    Van Well-Known Member
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    Two factors come immediately to mind, people cannot afford the monthly payment either because the initial price is too high, or because the resultant monthly payment is too high due to the inflation fighting mortgage rate. I expect we will see mortgage rates above the inflation rate soon.

    But with Dems in charge, we will not see domestic energy production surging due to government action. Thus a train-wreck is coming down the tracks.
     
  5. JonC

    JonC Moderator
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    Mine is at 2%. I'm inclined to agree with you. Let the people get what they voted for.

    Carter's Administration saw an increase in mortgage rates, topping out in the next Administration (Bush Sr.'s) at 17.82% in 1981.

    So it is not unrealistic to think the rates could climb to 20%.
     
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  6. Reynolds

    Reynolds Well-Known Member
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    I like buying up the non fixed rate mortgaged assets that hit the market for 25 cents on the dollar when the rates sky rocket.
     
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  7. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Do you like the cost of lumber and pipe and metal?
     
  8. Reynolds

    Reynolds Well-Known Member
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    It goes down when interest rates go up high enough to tank the economy.
     
  9. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Just like Germany prior to WWI. That also was the major catalyst to WWII.
     
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