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Location: River's Edge Inn, Todd NC, and Lorgues France
1,736 posts, read 2,571,831 times
Reputation: 2769
Quote:
Originally Posted by m378
It was literally 2 months ago that everyone was saying how crazy the market is. Interest rates are slightly higher than their lows, but they're still low.
I think it's just a typical winter slow-down. We'll see what happens come Spring.
The rates are still historically low, but still about 1% above a year ago.
That can easily add $2000 a year to your payments.
Seems funny to have an article saying that the market is flattening, while also pointing out that inventory is low and you might not be able to afford a new house.
My realtor said he felt like we were due to have the market cool.
The rates are still historically low, but still about 1% above a year ago.
That can easily add $2000 a year to your payments.
Right.
Just like people paid for a very long time. Or more.
There has been a free ride on cheap money for years, and for the long-term sake of the economy, historical norms need to be observed.
I.e., if you missed the BOGO on socks at Belks on Black Friday, do you not wear socks until next BOGO?
No. You pay historical prices.
Right.
Just like people paid for a very long time. Or more.
There has been a free ride on cheap money for years, and for the long-term sake of the economy, historical norms need to be observed.
I.e., if you missed the BOGO on socks at Belks on Black Friday, do you not wear socks until next BOGO?
No. You pay historical prices.
Right, but the difference is when mortgage rates were anywhere from 8-12% in the 1970's housing was MUCH cheaper. The average house was $34,000 in 1973 which comes out to about $190k in today's dollars. It's all relative.
Right, but the difference is when mortgage rates were anywhere from 8-12% in the 1970's housing was MUCH cheaper. The average house was $34,000 in 1973 which comes out to about $190k in today's dollars. It's all relative.
Oh, yeah. The 1970's.
3 bedrooms. 1.5 or 2 baths.
Average home size was, what? Maybe 1500SF.
8 foot ceilings.
The latest formica, and sheet vinyl, and avocado appliances.
One furnace. AC? Whachoo talkin bout, Willis?
With land in greater demand, the finances to build a 1500SF lovenest on half an acre in town just don't work, and people NEED that 2800SF, with 2-3 car garage, smart paneled, 3-5 bathrooms, granite, 9 or 10 foot ceilings, etc. etc.
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