6-8% money is the norm, scruffy. The 2-4% money of the past 15 years was a one time opportunity/fantasy. That cheap money was most responsible for the inflationary prices of the past 15 years. Housing costs went thru the roof in that time period. As did auto prices.
Or “the market”...and actually, The Fed, who monitors them to keep the economy from running too hot or too cold.
The Fed can only use the one tool they have, and that's monetary policy. They can't control fiscal policy. Controlling interest rates is and can be only a partial fix. Some of the criteria cited by the Fed is dubious, like unemployment, which ignores the Labor Participation Rate.
Yes 2021 not the most failed President ever of 2020. You're a shill
This post attempts to rationalize the high interest rates as the norm historically. Perhaps so.
Ha. Coming from the biggest leftist shill on this board. AINEC.
2021 was actually Trump's last budget. The Federal fiscal year starts on Oct. 1st and runs through Sept. 30th of the following year.
The value of the dollar (in goods and services, not in relation to other fiat) will continue to decline.
Blackrock, vanguard and state street are all in the market apparently. Interesting how that works.
This is a moronic take on multiple levels. Typical.
Been asleep or wilfully ignorant the last 3 years lol stooge.
And it normally does from an historical viewpoint. Right?
Those rates may be the historical norm, but these prices are not. Combined, this market will likely come to a screeching halt unless many folks drastically lower their expectations for the type of homes they can get into.
Home prices are holding steady. That seems like a good thing though counter-intuitive.
I'm not seeing that same trend anymore. The number of listings I'm seeing remain low but the sell prices are down at minimum 10% from a year ago and they're sitting on the market for longer as well. Don't want to claim my local situation is representative of the national market though by any means. Just an observation.
The value has decreased rather substantially.. do you legitimately deny this?
Probably...but that is often how things work in a “free market”....the Feds job us to “ gerryrig” interest rates to keep things flowing evenly.
I'm at a 2.375 on a 30 year fixed because my BIL is a mortgage guy and I had him eat all his wiggle room and make no money on the deal in December of 2019. I bought him the treager he wanted for Xmas that year from my nephew using his Fleet Farm discount. Best 1300 bucks I've ever spent.
You think and act as though “this administration” is the sole determination of interest rates when in reality political administrations have no direct influence on this matter. The Fed is a non-partisan board that controls these rates. I understand it is much more complicated than that...but it is no where as simple as you wNt it to be here.
Over what time period?
Yep...and? Look where we have been financially since 2020. Your faux outrage is either ignorance or bliss...which is it?
Other than tossing insults out at random, perhaps you should remove your partisan glasses and think objectively?
