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Saw another post about 2021 interest rates and made me think of this
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1% for 25 years, contracted in early 2021
Their children will moan how easy their parents had it.
I was late to the game, had to settle on 2.5%.
4%.. missed a solid refi opportunity during these golden years. Still, better than people will get for sometime.
My only regret is not buying more house.
Boomers love to remind you their first house was financed at 18% in 1981.
They tend to forget to mention it only cost 2x their salary.
Any of you folks who locked in at 2% – Nice. Seriously.
Those property taxes must be brutal though…
You guys have property?
I’m a millennial who bought their first house in 2010 at the bottom of the market at 5% interest and was gifted an $8000 check from the government for doing so, who then sold that house at the top of the market last year to upgrade into a larger home at 2.6%.
But, as lucky as I was with all of that, I have nothing on the boomers.
Edit: Duplicate word.
Hate the game not the playa
Why did I pull the trigger?
I talked to my brother who works in real estate in MExico and he said he would kill for a 7% mortgage. . .Mexico commonly runs above 10%
[deleted]
Well technically millennials are boomer juniors bc their parents are boomers. This whole generation war is just between a bunch of shitty parents and their super shallow kids.
2.19% holla!
Leo voice *Technically 1.6% to be exact*
This post/meme is made by someone under 30, probably 25, who really has no idea of anything historical or any concept of time. 🙂
I had 3 at one point. I carry around a monocle to wear when my peers talk about being priced out of the housing market.
Top tier reference.
2.75% here. And I don’t have to worry about my home value crashing as I’m an hour from DC. The amount of federal money flowing into my area provides a cushy floor on housing prices.
Nope. Us tail end millenials get to suffer for an eternity renting with the zoomers
Not unless you’re locked in at that rate for the life of the loan. Boomers got to buy at low asset prices and high interest rates. Rates went down and they got to refinance, pay less, and watch the asset value soar b/c of the lowered rates.
We get to do… well the opposite. Buy at astronomical asset prices and have the payment go up in 5 years meanwhile the asset value plummets because of raised rates.
3.35 in 2017. Sold in 2019… full of regret.
I would rather buy a house with a high rate at a reasonable price rather than buy an overpriced house with a low rate. You can change the rate you are paying if interest rates fall but you can’t change what you bought the house for.
Yeah for real.
The generation who got the full economic benefit, opportunity, and skillset of the technology revolution, with several opportunities to buy cheap assets, whining about money when they are well on their way to wealth.
Considering you’re about to lose half the value of the home and be completely underwater for the foreseeable future, I’m going to say no.
If we can just redefine recessions, i think its fine time we redefine generations…
I’m being called rather frequently “Boomer” just because i have an ideology that doesn’t blame everyone else for me being poor.
If home affordability is an issue, consider some home building skills because you know, “value add” is actually a thing in a capitalistic system. That of course sounds like work, so down with capitalism, it would be so much to be just given a house, a big one, that is nice, and all finished, with no issues/need of renos, and it should be in the best location… because hey why the hell would you compromise when you can be anything you want to be! except you don’t know which direction to turn a screwdriver in.
1.64% fixed mortgage for the next 1.5 years. It ain’t much but it’s something! Hopefully shit starts to calm down a bit.
1.1% for 10 years, woohoo
Where do i stand at 3.25%?
Very baddies…☠️
Whatever…
I have to renew my rate in 2026. Maybe I’ll just pay off the whole house in 4 years instead of YOLOing into meme stocks. Right.
Overpaying $50k on a house with 2.5% rates or underbidding $10k and getting 7% rate?
The smart boomers and Gen X, refinanced their houses for the lower interest rate, and took some equity out to boot!
Im still content with my 3.75% 20 yr after this is unfolding
What does that mean?
I haven’t met a milenial buying a house in years… where are these wealthy milenials lol
I have several friends that told me to pay off my mortgages but I see no point. The interest rates are so low I’d be burning a ton of cash to save almost nothing. I got 1 at 3.25% and another at 1.99%. No way I’m paying extra on either of them. Heck, the first one has seen such a property tax increase that over half the mortgage is literally taxes so even if I paid it off I’d only be saving half the payment. I’m not rich btw I just live below my means and I only buy houses I feel comfortable renting.
Me sitting with a 1.8 percent mortgage has me feeling this post … Not looking forward to the renewal in a couple years tho
I could have taken out a robinhood margin loan at 2.5% fixed but they didnt let me 