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Pinching Americans .. Mortgage rates
select-fire
Member Posts: 69,453 ✭✭✭✭
in Politics
are now above 7%.. then add in another fed rate hike .75%
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This administration has destroyed the housing market along with most other business in the U.S.A. and this will be a bleak winter all over the world.
Does this mean the price of a 2x4 will drop below $10?
regular are 3.75 here and treated 5.20. With the housing collapse comes others along for the ride. Folks will do some remodel but that will not keep the housing afloat. Home prices will go down but still the buyers will be in shortage. Not a good time to be a realtor . 30 yr fixed was at 7.3 %. I sold a home to a veteran last summer at 2.75. New Home construction is really down and will really sputter this spring.
Unlikely, since they are shipped on trucks that required diesel and diesel is skyrocketing in price.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Biden is doing exactly what he said he would do. Coerce fed into raising interest rates.
Destroying the economy is what DEMOCRATs do.
Hurricane IAN did a number on the flow and price of lumber in the USA. Prices were falling but the massive destruction and the amount of treated lumber, sheet rock, nails, screws, electric wire, flooring and cement is going to keep prices sky high for a while.
As a side note, Lowes military 10% discount no longer applies to lumber I was told last week when buying some...
You must not show at the same place I do .