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GNL says
Still bullish on 5 - 5.5 % by next summer?
mortgage rates are based on many factors such as inflation
so by then I think the conditions will exist for a lot lower 30 year mortgage rate
,
eversion to a cash or Fuck You mean
I know that CRE (Commercial Real Estate) is hanging over the abyss, especially hotels. Banks with large CRE portfolios are shitting bricks. Moody's actually came out recently with a macroeconomic forecast that they called "Commercial Real Estate Doom Loop."
Shit is getting realer than real, real soon.
Bobby Kennedy announced a plan for 3% mortgages for all Americans.
looks like more people are putting down more money
GasTheYoungTurks says
Bobby Kennedy announced a plan for 3% mortgages for all Americans.
Got a quote for that?
For example, he wants to give away money for reparations.
ad says
For example, he wants to give away money for reparations.
ad I'm pretty sure Kennedy did not actually say that. Please find me a quote if you can. I can't find it.
If mortgage rates go down in the future, you can refinance and cash your money back out.
consider that refi is not free. Loans involve origination fees and often points
And it is unlikely that if mortgage rates fall that savings interest rates will not fall as well. Your best bet if you have the cash is to pay down the high interest mortgage and leave it there. Rebuilt your cash by putting what would have been payments back in the bank.
Home Prices Fall Further. Peak was June 2022. Demand Crashes, Price Cuts Jump, Supply & Days on Market Rise
by Wolf Richter • Oct 19, 2023
https://wolfstreet.com/2023/10/19/median-price-of-existing-homes-falls-further-peak-was-june-2022-demand-crashes-price-cuts-jump-supply-days-on-market-rise/
Home Prices Fall Further. Peak was June 2022. Demand Crashes, Price Cuts Jump, Supply & Days on Market Rise
by Wolf Richter • Oct 19, 2023
in our area it’s interesting. flippers bought houses when rates low, tried to flip for 300k profit because targeting ca/wa equity refugees. can’t sell because rates doubled and transplants aren’t all sitting on millions of equity. fun to watch price reduction of 100k from asking and still no offers.
Wolf Richter
FortwayeAsFuckJoeBiden says
in our area it’s interesting. flippers bought houses when rates low, tried to flip for 300k profit because targeting ca/wa equity refugees. can’t sell because rates doubled and transplants aren’t all sitting on millions of equity. fun to watch price reduction of 100k from asking and still no offers.
Examples?
ad says
For example, he wants to give away money for reparations.
ad I'm pretty sure Kennedy did not actually say that. Please find me a quote if you can. I can't find it.
or you can just redfin anything with acreage out here.
FortwayeAsFuckJoeBiden says
or you can just redfin anything with acreage out here.
Where is "out here"?
GNL says
FortwayeAsFuckJoeBiden says
or you can just redfin anything with acreage out here.
Where is "out here"?
idaho
.
Panama City Beach is a growing area and very popular ... look here at this recent sale ...
it was originally priced $345,000 in May 2023 and sold this month for $272,000 ... it sold new for $179.900 in 2013 ....
that means it appreciated about 4.25% annually since 2013 :-/
https://www.zillow.com/homedetails/1734-Annabellas-Dr-Panama-City-Beach-FL-32407/121152666_zpid/
,
GDP NOW is forecasting an annualized increase in GDP of 5.4% for the 3rd quarter. So far, higher interest rates haven't slowed the economy.
The difference between 2008 and today is inflation, rates, and demography. The Plateauists are counting on NONE of those three having an impact.
Misc says
GDP NOW is forecasting an annualized increase in GDP of 5.4% for the 3rd quarter. So far, higher interest rates haven't slowed the economy.
Annndd....that means the Fed will raise rates higher. Because that is all they can do.
Annndd....that means the Fed will raise rates higher. Because that is all they can do.
Annndd....that means the Fed will raise rates higher. Because that is all they can do.
PumpingRedheads says
Annndd....that means the Fed will raise rates higher. Because that is all they can do.
The Fed is losing control of interest rates. They are going up irrespective of the Fed because federal government spending is way out of control, even moreso than in the past. This is rightly seen as inflationary and so rates are going up.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.