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Akkula

Housing Prices in America

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On 4/18/2024 at 10:17 PM, bsu_alum9 said:

How long do y’all think before mortgage rates are below 5% again? Or is this the new normal? Or are we heading back to the 70s and 80s rates?25FA069D-69E8-4953-B3E2-AF6911CE9A5F.jpeg.a1b425d1a4cbe56709c1f527cb8fbd46.jpeg

7.10% average last week.

it's going to be a while. at this point housing costs themselves are a major inflationary pressure. puts us in a bit of  a nasty positive feedback loop there

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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On 4/18/2024 at 10:17 PM, bsu_alum9 said:

How long do y’all think before mortgage rates are below 5% again? Or is this the new normal? Or are we heading back to the 70s and 80s rates?25FA069D-69E8-4953-B3E2-AF6911CE9A5F.jpeg.a1b425d1a4cbe56709c1f527cb8fbd46.jpeg

7.10% average last week.

Just have to wait for the next pandemic. 

 

 

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On 4/18/2024 at 8:17 PM, bsu_alum9 said:

How long do y’all think before mortgage rates are below 5% again? Or is this the new normal? Or are we heading back to the 70s and 80s rates?25FA069D-69E8-4953-B3E2-AF6911CE9A5F.jpeg.a1b425d1a4cbe56709c1f527cb8fbd46.jpeg

7.10% average last week.

Mortgage rates of 5 to 7 percent are the new normal. It’s really the old normal. The era of cheap money is over. It was a good run. 
I don’t think we see mortgage rates in the double digits for a good long time like the 70s and 80s because the fed actually appropriately addresses and responds to inflation now .

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On 4/19/2024 at 8:38 PM, bornontheblue said:

Mortgage rates of 5 to 7 percent are the new normal. It’s really the old normal. The era of cheap money is over. It was a good run. 
I don’t think we see mortgage rates in the double digits for a good long time like the 70s and 80s because the fed actually appropriately addresses and responds to inflation now .

Never know, the financial crisis dropped rates lower than ever until Covid. What will be the next big thing?

 

 

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On 4/19/2024 at 6:38 PM, bornontheblue said:

Mortgage rates of 5 to 7 percent are the new normal. It’s really the old normal. The era of cheap money is over. It was a good run. 
I don’t think we see mortgage rates in the double digits for a good long time like the 70s and 80s because the fed actually appropriately addresses and responds to inflation now .

The rates should have been raised well before COVID ever hit.  Housing prices would have been helped if the era of cheap money ended sooner than it did.  

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On 4/20/2024 at 9:22 PM, Wyobraska said:

The rates should have been raised well before COVID ever hit.  Housing prices would have been helped if the era of cheap money ended sooner than it did.  

They were, they jumped as soon as Trump won the election. Killed the refinance market.  

 

 

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On 4/21/2024 at 4:50 AM, tailingpermit said:

They were, they jumped as soon as Trump won the election. Killed the refinance market.  

Wrong again.  Rates were about 3.6 when Trump took office and about the same when he left.  They only started upwards around Jan 22. 

This forum continues to amuse me to no end with the know-nothings who know everything. 

https://fred.stlouisfed.org/series/MORTGAGE30US

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On 4/19/2024 at 5:38 PM, bornontheblue said:

Mortgage rates of 5 to 7 percent are the new normal. It’s really the old normal. The era of cheap money is over. It was a good run. 
I don’t think we see mortgage rates in the double digits for a good long time like the 70s and 80s because the fed actually appropriately addresses and responds to inflation now .

The good news is for those with cash on the sides a 5% return on a saving account is very doable right now.  CDs are also attractive with the security piece for those very close to retirement.

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On 4/20/2024 at 2:58 PM, tailingpermit said:

Never know, the financial crisis dropped rates lower than ever until Covid. What will be the next big thing?

hopefully not a Taiwan or NATO war

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On 4/20/2024 at 3:58 PM, tailingpermit said:

Never know, the financial crisis dropped rates lower than ever until Covid. What will be the next big thing?

The economic circumstances are far different going forward. 

Future recessions will not see the huge jumps in unemployment like they did in 2008 because labor is much more scarce than it was. 

Interest rates of 6-8 percent are the historical normal, and will be going forward. I really don't think we will see sub 3 percent mortgage again in our lifetimes. 

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On 4/24/2024 at 1:47 PM, Poorohman said:

Wrong again.  Rates were about 3.6 when Trump took office and about the same when he left.  They only started upwards around Jan 22. 

This forum continues to amuse me to no end with the know-nothings who know everything. 

https://fred.stlouisfed.org/series/MORTGAGE30US

According to your graph,  3.54 on 11/3 (before the election), 4.32 by 12/29.  They got as high as 4.92 by the midterms.  So they did jump after the election.   And they tanked to 2.77 by the time of the 2020 election.

It gives me a headache just trying to think down to your level

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On 4/24/2024 at 2:47 PM, Poorohman said:

Wrong again.  Rates were about 3.6 when Trump took office and about the same when he left.  They only started upwards around Jan 22. 

This forum continues to amuse me to no end with the know-nothings who know everything. 

https://fred.stlouisfed.org/series/MORTGAGE30US

Boy, you’re an idiot!

Rates jumped as soon as he was elected, will again if he wins in November. 
 

 

IMG_2075.png

IMG_2074.png

 

 

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On 4/24/2024 at 3:05 PM, bornontheblue said:

The economic circumstances are far different going forward. 

Future recessions will not see the huge jumps in unemployment like they did in 2008 because labor is much more scarce than it was. 

Interest rates of 6-8 percent are the historical normal, and will be going forward. I really don't think we will see sub 3 percent mortgage again in our lifetimes. 

You’re just begging for another pandemic, aren’t you?

Hope everyone refinanced during Covid, never selling my house with the 2% interest rate. 

 

 

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On 4/24/2024 at 1:05 PM, bornontheblue said:

The economic circumstances are far different going forward. 

Future recessions will not see the huge jumps in unemployment like they did in 2008 because labor is much more scarce than it was. 

Interest rates of 6-8 percent are the historical normal, and will be going forward. I really don't think we will see sub 3 percent mortgage again in our lifetimes. 

6-8% 30 year mortgages aren't a barrier to affordable home prices.  It's the home prices.  We paid 8.5% on our first house.  Easy peasy.  The real issue is the market failure in housing.  

I do think there are macro issues that limit the ceiling on mortgage rates,  but supply, supply and new technology and production methods are the key long term. 

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On 3/11/2024 at 5:32 AM, Nevada Convert said:

Dude, you fled to a 3rd world country. This is America and the success that capitalism (although certainly not perfect) has brought Americans for their hard work. The result is better living conditions than the old days. 

You want us to go back in time when things were worse? Why don’t you add more air pollution, lack of civil rights, women treated like crap. Sorry 3rd world boy, we’ll get this resolved without your help. 

2,100 sf is a modest sized house, by the way. 


  
I grew-up in a 1,400’-sq house on a hill 3-blks from the beach/ocean.  It was MORE than enough house for our family of four.

@Nevada Convert is a gluttonous pig!!!

 

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On 4/24/2024 at 11:37 PM, ---I GREEN INFECTION I--- said:


  
I grew-up in a 1,400’-sq house on a hill 3-blks from the beach/ocean.  It was MORE than enough house for our family of four.

@Nevada Convert is a gluttonous pig!!!

 

How exactly do you fit all of your normal big bold text and big obnoxious personality in a 1,400 sf house with 3 other people? I suspect they made you sleep on the beach like a beached whale. And the crashing waves drowned out the sound of you arguing with yourself loudly all night long. Good times. 

But yeah, I’m a proud gluttonous pig. 

kat.jpg

 

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On 4/24/2024 at 3:05 PM, bornontheblue said:

The economic circumstances are far different going forward. 

Future recessions will not see the huge jumps in unemployment like they did in 2008 because labor is much more scarce than it was. 

Interest rates of 6-8 percent are the historical normal, and will be going forward. I really don't think we will see sub 3 percent mortgage again in our lifetimes. 

Millennials bitch about getting hosed in the housing market while we essentially snuck in right before the ladder for gen z.

 

On 4/25/2024 at 12:57 AM, grandjean87 said:

6-8% 30 year mortgages aren't a barrier to affordable home prices.  It's the home prices.  We paid 8.5% on our first house.  Easy peasy.  The real issue is the market failure in housing.  

I do think there are macro issues that limit the ceiling on mortgage rates,  but supply, supply and new technology and production methods are the key long term. 

We had a weird period in time right after WW2 where suburbs and towns out-competed cities economically. It was not typical of any other period in our history. We built our whole city-zoning, planning, and residential construction infrastructure around that model. Well... once again, cities are more economically viable than burbs or towns, and it makes sense again to build cities similar to how we did in the early 20th century - but we don't really have the framework to make Austin look more like Philly. We'll get there. Or I guess we'll fall behind the rest of the world and have stagflation forever. Either way, life will go on.

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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On 4/24/2024 at 11:58 PM, Nevada Convert said:

How exactly do you fit all of your normal big bold text and big obnoxious personality in a 1,400 sf house with 3 other people? I suspect they made you sleep on the beach like a beached whale. And the crashing waves drowned out the sound of you arguing with yourself loudly all night long. Good times. 

But yeah, I’m a proud gluttonous pig. 

 

@Nevada Convert:  I left in 1985 (more or less) to attend CSU-Diego.  I took an old school typing course on an electric typewriter in HS the previous semester.  Thus, “…BIG bold text…” wasn’t a thing yet.

NO, to sleeping on the Bch.  During the summers, occasionally I’d sleep on the balcony at my Dad’s house a-few-miles up the coast in the same town.

 

@ALL:  Does anyone else see the irony in NV-Con commenting on my “…BIG obnoxious personality."

 

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On 4/24/2024 at 5:20 PM, tailingpermit said:

Boy, you’re an idiot!

Rates jumped as soon as he was elected, will again if he wins in November. 
 

 

IMG_2075.png

IMG_2074.png

JFC you are an idiot.  You literally stated rates went up as soon as Trump took office.  Care to see your post again (non-edited)?

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