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30 Year Mortgage Rate is going to 18%
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If 18% rates are cool then consider me Miles Davis
You could also get 12% return just letting your money sit in a bank on a CD.
My parents were telling me about buying their first house and interest rates were absurdly high, 15%+, where they even listed the vacuum as collateral
Dude. I live in NY and I was talking to my barber. He has a 30 year adjustable mortgage. I didn’t even know people had adjustables anymore. He is paying 4K a month for a rat apartment he owns.
My parents keep saying the same… they bought their house for $32k while making $25k in the 70’s
18% on a 50k mortgage is not the same as 18% for today’s housing market. Most likely will not happen
My parents mentioned their first house was 14.75%. But then a house in Queens, NYC was only $100-150k. They sold that house in 2017 for $1.2 million.
I hate when my parents tell me this shit! Their house was $60,000. Mine is $775,000. Their 15% was child’s play.
Yeh? Tell me what the average house price as a proportion of salary was in 1981.
And then tell me what effect an interest rate of 18% had on that.
Now tell me what the average house price as a proportion of salary is in 2022.
…I’ll wait
There is a 0% chance that they get to 18%
I’d pay 18% for a 3 bed 3 bath house that cost $30,000. Yes let’s go back to 1980 interest and prices!
It’s not going to happen bro
Housing prices plummet and wealthy people with cash have an opportunity to buy up rental properties while the little guy looking for a home to live in gets screwed as usual.
After I close on 2 properties in about 2 weeks!
Take them up after!
Can we bring the tax rate back to 91% for the top 1% like 1951?
Millenials be like “yeah”.. No srsly, there is a bubble
it’s going 18% is an opinion as much as I think it will not.
Have to compare mortgage repayments to wages
“Hurrdurr but we can just refinance”
The 80s when Al Bundy could afford a two story house working at a women’s shoe store
18% of 100k was $18k, a lot, but it was on a hundred thousand dollar house over a 20-30 year period and the houses became worth millions.
I’m looking at selling a condo for $700k ($150k less than last year and buying a house but not paying $80k a year interest on $500k. Who the fuck is buying now?
My first mortgage was 8.25 percent. Literally parents, grandparents and uncles were calling me on the phone to congratulate me. My current rate is 2.375% on a 15 year mortgage. I feel like I stole this money now.
Jimmy Carter 2.0
So at 18% your just getting a house if you have cash?
Clickbait posts
Start working on your memes showing Vans going to the moon because that’s what people are going to be living in now.
Nah bra
I’m thinking about those 10000 properties… Booom Bros a lot today. That is going to cause a whooollleee lot of shit