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Another Fed HIke Tomorrow
select-fire
Member Posts: 69,446 ✭✭✭✭
in Politics
Making it harder for Americans to purchase homes
Comments
No surprise. Biden made it clear he wanted high interest rates.
He has ruined folks 401k plans by passing out all that free money for covid and other free monies. This will affect the country for many yrs to come
i dont have many years.
Too little too late.The great reset is coming.Japan Yen is going down fast right now.The cascade effect is coming to forge a new world order with a cashless society.Brent-woods agreement I &II is soon to be history. Fiat paper money is just the end to justify the means.
serf
Cyrpo money has lost its shirt. Bitcoin is down From 60k share to 22k
Just seen one of the front units priced at "Mister Yosh's neighborhood" for $450K. Nearly half a million dollars for two bedroom one bath 800/900 square condo built in early '80s. A dollar sure don't buy much these days.
Pre '08 I think was $360K or there abouts?
Real estate on the market around here is actually going down in price. Most buyers have given up and are waiting to see if things improve. Afraid they are in for a very long wait!
Feds raising interest rates to fight inflation reminds me of Daylight Savings Time. You just can't change a natural course after making so many blunders in uncontrolled deficit spending.
Real estate has cooled here big time. However rents have went up and actually some landlords are having bidding wars for rentals.
Yep, People cannot find housing anymore and it will become a crisis soon.The government will need to build high rise government projects and house them all under equal equity diversity laws and tax wealthy landlords for those who can still pay high rents in wealthy areas.
If they fail to house these and feed these people there will be riots and crime everywhere in major cities across the country.
serf
I reckon the unit will either lower the price to compensate for the rate hike. I think it was Glen beck trying to explain how much this will add to the mortgage with the new rate hike. A 400K house with 25% down so on a 300K mortgage. What was $1800 with the other rate hike which turned to $2500 and with this new hike will be $3000? Something like that. Basically double the mortgage. Going back to 2008. Actually worse than 2008 because of the inflation gravy.
Dow was up 300 on the big announcement yesterday and down huge today after the nonsense sunk in. Too much money going in the stock markets for too long. Banks paying nothing and nowhere to put it so folks decided to add without knowledge. Totally oversold on PE ratings. some up to 40x. They are now paying for it.
said there is more coming too
This is the largest train wreck this country has been involved with since the depression. Dow is under 30k and will probably stabilize around my best guess 26k or so
Timing is everything with the market... just when i think I'll buy more it drops again...
Market has dropped like 4 trillion dollars... is this being used in Bidens re election fund