With mortgage rates now topping 8%, buyers are continuing to be squeezed by the housing market and rising prices. Editor-in-Chief at Investopedia, Caleb Silver, explains new data showing how your dollar only goes half as far as it did at the end of 2020 when it comes to buying a home.
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#Mortgages #Housing #Interestrates
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American housing market needs to be regulated, not the interest.
lol, “when rates go down in six months”.
That refinance possibility in a year is bull crap. Rates are not going down enough to make it worth the costs associated with refinancing. Yes, there are closing costs every time you get a new loan.
Tell democrats to stop printing money and making inflation worse…you get what you ask for a true domino…now people cant buy houses…well you can but bigger down payment or hope for the best
Thank you Joe Biden for another accomplishment of making buying a house impossible
Rates will not fall inflation Is still above 2%.
Banks control appraisers now. They're told not to give a real appraisals because the value of their previous loans would be devastated. If the traditional value to income formula was still being used, many markets would go down 10, 20, 30%. Instead, we have a artificial value assigned. We'll see where this ends up.
The crazy thing is despite such a high rate, I still lost my bid last Friday which was 20k above the asking price of 830k for one family house in Long Island, NY.
Live in a van 👍
Property owners raising the rent because of the hits they took during the pandemic. Then taking those financial losses out on the next potential tenant making the cost of rentals too high for anyone to afford because employers don't care they're not paying employees a realistic livable wage for today's economy. And that's not even taking into consideration whether or not the potential tenant has an eviction on their record. The moment they see eviction automatic denial doesn't matter how old the eviction is. All the while Property Owners not realizing that if they're not renting out the property they're not receiving rent payments and there mortgage isn't getting paid. Gotta love how the common factor in all of this is financial greed.
LOL! This clown is hilarious. Just wait till unemployment goes up.
And the homeless crisis will continue to grow.
Pay top prices for a house while paying top interest rate. Sign me up
Punished for existing
Remember 66%+ of Americans AKA homeowners and landlords don't want housing to go down
We had a great economy with Trump. Thanks news media for forcing Joe Biden on people.
How exciting 😊
Thanks Biden😒
Not included: tax and insurance 😂 that's whole another issue.
I hope home prices collapse. Ive seen on zillow how some home prices have gone up 15 to 37 precent fromyears 2021-2022. That's riduculous.
Existing homes that were 60k in 2000 are now going for 180k.
Thats ridiculous. The market is broken. Homes should not be that expensive.
Plus, the property taxes go out of control stupid when prices rise that much and the middle and lower class suffer most. Espicially seniors on fixed budgets.
So, i hope the high mortgage rates lead to a collapse in demand which will lead to a collapse in prices.
The only ones that really benefit from the current system are realtors and the super rich that take debt/loans out against the inflated real estate prices of their property to put in the stock market. And, bankers.
How about a buydown so your rate is lower the 1st 2 years? 😊 I educate all my clients on this.
Lol they said to buy now and refinance a year ago. I SAY, DONT BUY. People bought overpriced houses for 3 years and its not going to decrease until those homeowners have no option but to start bringing the price down
Joe Biden ☝️ I did that
Just, uh.. catching on?😂🎉
Moving in with my parents, 33 years old. Saving my money to travel and buy groceries.
👍👍👍👍. I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $950,000 PROFIT within 3months he invested $120,000. I just began investing and i will really appreciate any tips or helpful guide…
Way to totally cut out agents and the work they do on that flash card NBC. Buying direct from a seller might seem fine, but you want an agent who will manage the transaction, make sure all inspections come back positive and advise on anything someone selling might not be truthful about. There are so many reasons to work with a good agent.
“You will own nothing and be happy”
This is the one thing I like about living in Africa; most countries in Africa you pay cash none of this financing crap, and houses and cars do not and I repeat do not depreciate at all new or used here in Ethiopia is where I am speaking of. If you don’t have the cash to buy it you can’t get it. And renting is affordable for the majority of people.