Home Prices what the hell is going on?

76z28

Veteran Member
Jun 29, 2009
2,725
bakersfield
Everyone who’s buying for the most part can afford it or has equity. Market won’t crash might have a soft landing but no more 2006-2010. Plus rent in some cases ain’t cheap like it used to.
100 percent this.
Also MUCH less ARM loans which makes a massive difference.
 

76z28

Veteran Member
Jun 29, 2009
2,725
bakersfield
The economy is like a runaway train. You can't stop it on a dime. The past couple of years set us up for a bad economy by lowering interest rates to almost nothing. People thought they could get something free. Free always costs later, and "later" has arrived where everyone pays from here on.

I see house prices sliding down a bit, and that is good news. Higher interest rates should help lower house prices.
If the Fed stays the course and reverses their mistakes of the past few years and raises the interest to a sensible level and sticks with it, the "runaway train" can be slowed down and stopped. That means that borrowers need to start paying their fair share for money they borrow, and investers need to see higher interest rates paid to them for supplying the money.

If you have money invested in the Stock Market right now, do nothing. The Market should continue to slide a bit more and slowly recover. If it recovers too fast, the economy crashes even deeper into the hole the Fed and Congress and President have created. We need a slow turnaround. The other option is a bad crash.

If you want a good economy, expect to pay your fair share for borrowed money and push for the Government to stop giving away money they don't have. Stop stimulus money and other giveaway programs like Student loan forgiveness.

Everybody needs to learn the difference between "need" and "want". Stop spending money you don't have and thinking you can live on credit.
While I agree with you.. It wasn't just the last few years. It's been since 2008... all administrations since that point never focused on raising interest since they could float on that "look at the economy" boat with low interest driving it.
 

RMTZ28

Veteran Member
Mar 29, 2015
253
Abq. nm
Cars too!!! I wonder what the hell im doing wrong….staying in the same old house with the same old reasonable (affordable) mortgage with 1 reasonable car payment that’s nearly paid off(wife’s car) and I have a 15 yr old truck with 275k on it and an old Grand Prixwith 210k I run back and forth to work. I guess we did buy a camper but it was a used one and not a super expensive one. Keeping within our means or at least trying to.

But then I see people selling their house that they bought for 100k selling for like 180, and then buying a 400k house and a brand new truck not long after…..plus the ice castle in the driveway…… and I wonder how the hell do they afford it?
 

tom3

Veteran Member
Aug 1, 1999
15,142
ohio
Yeah, go buy a new Cadillac Escalade for $120k, and give the dealer $15k for the privilege of buying it. And I worry about $8 a pound hamburger.
 

La.Z8

Veteran Member
Lifetime Gold Member
Jan 6, 2003
1,095
N.W. Louisiana
I`ll throw this one out there. 2 weeks ago, my 87-year-old dad totaled his 2013 Chevy SWB, V-6, single cab, PW, PDL, still a basic truck. Only had 55K miles. Insurance settled at $19050. Now get this.....he paid $21,500 for it in July of 2013. That`s a good example of how things have been revalued. Replacing it, if I so choose as he doesn`t need to be driving anymore, will not be an easy or cheap task.
 




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