Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

Oh the humanity!

124»

Comments

  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Why's that?
  • Bob_C
    Bob_C Member, Swaye's Wigwam Posts: 12,635 Founders Club
    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    At some point the serfs are going to wake up and realize they would rather be able to own property vs get a free abortion. They rightfully should come for your social security also.
  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,331 Founders Club
    edited September 2023
    HHusky said:

    hardhat said:

    HHusky said:

    hardhat said:

    Lol

    This doesn't support your girlfriend's claim, Milly.

    Again: From the party that called the Trump economy the worst since the depression before covid

    Lol shit dick, it's directly from them

    https://democrats.org/news/donald-trump-has-the-worst-economic-record-in-modern-u-s-history/



    whoosh

    reading is FUN-da-mental
    you're struggling

  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,331 Founders Club
    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
  • PurpleThrobber
    PurpleThrobber Member Posts: 48,015
    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    Black Rock is able to buy houses at these rates and prices.

    Doubtful the Big Guy is getting his standard 10% off the top for cornering the housing market.

  • HHusky
    HHusky Member Posts: 23,881
    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,331 Founders Club
    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    Just because it has precedent doesn't mean it's nothing to worry about. In addition, you're ignoring several distinctions:

    (1) influx of institutional money into residential real estate (e.g., BlackRock as someone mentioned above, Vanguard, RedFin, Zillow, etc.)

    (2) influx of foreign interests (Chinese in particular)

    (3) wages have not risen as a commensurate level to housing prices and it's not close
  • Bob_C
    Bob_C Member, Swaye's Wigwam Posts: 12,635 Founders Club
    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    In a working free market, you are correct.
  • RoadTrip
    RoadTrip Member Posts: 8,145
    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    You bought that home for less than $50k. You also were much younger than the avg 1st time buyer today at 36. Things are multiples worse for them today because of people like you.
  • RoadTrip
    RoadTrip Member Posts: 8,145
    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You bought your first home in your 40's? Fuck you must have been really poor.
  • HHusky
    HHusky Member Posts: 23,881
    RoadTrip said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    You bought that home for less than $50k.
    I said 1990, not 1890.
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Why's that?
    The dodge was noted.

    I'd avoid explaining economics if I were you as well.
  • RoadTrip
    RoadTrip Member Posts: 8,145
    HHusky said:

    RoadTrip said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    You bought that home for less than $50k.
    I said 1990, not 1890.
    Yeah you said last week you attended law or business school in 1977. That makes you around 23-25 in 1977. You said you bought your first house in the 1990's not 1990. So you bought your first house in your late 30's to early 40's which is pretty fucking old for a 1st time home buyer in the 90's.
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    Bob_C said:

    RoadTrip said:

    HHusky said:

    RoadTrip said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    You bought that home for less than $50k.
    I said 1990, not 1890.
    Yeah you said last week you attended law or business school in 1977. That makes you around 23-25 in 1977. You said you bought your first house in the 1990's not 1990. So you bought your first house in your late 30's to early 40's which is pretty fucking old for a 1st time home buyer in the 90's.
    And no supplemental Medicare. Can we get a go fund me going?
    I hear he lives in Seattle though. Not like us poor hillbillies in Orange County.
  • PurpleThrobber
    PurpleThrobber Member Posts: 48,015

    Bob_C said:

    RoadTrip said:

    HHusky said:

    RoadTrip said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    You bought that home for less than $50k.
    I said 1990, not 1890.
    Yeah you said last week you attended law or business school in 1977. That makes you around 23-25 in 1977. You said you bought your first house in the 1990's not 1990. So you bought your first house in your late 30's to early 40's which is pretty fucking old for a 1st time home buyer in the 90's.
    And no supplemental Medicare. Can we get a go fund me going?
    I hear he lives in Seattle though. Not like us poor hillbillies in Orange County.
    All the OC hillbillies cashed out and moved to N Idaho.
  • BleachedAnusDawg
    BleachedAnusDawg Member Posts: 13,165 Standard Supporter
    edited September 2023
    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
  • Bob_C
    Bob_C Member, Swaye's Wigwam Posts: 12,635 Founders Club

    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
    Sellers need prices to go up or stay relatively flat to justify trading into a higher rate mortgage and maintain a similar lifestyle. Buyers need them to go down to justify the current rates in monthly payments. Lack of economic mobility is a very bad thing when an economy is already stalled out. As @UW_Doog_Bot said in another thread recently, there's a complete mismatch in the market (also in other financial markets for similar reasons) and something will have to give.
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    Bob_C said:

    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
    Sellers need prices to go up or stay relatively flat to justify trading into a higher rate mortgage and maintain a similar lifestyle. Buyers need them to go down to justify the current rates in monthly payments. Lack of economic mobility is a very bad thing when an economy is already stalled out. As @UW_Doog_Bot said in another thread recently, there's a complete mismatch in the market (also in other financial markets for similar reasons) and something will have to give.
    It will be investors/sellers just like any commodity market once it starts to slip it will have to find bottom. First out wins.

    There's something like 14 million investor owned vacant homes. Why hold real estate when a bond will make a better return? Even a 5% divestment of that stock would crash the shit out of the market.

  • Bob_C
    Bob_C Member, Swaye's Wigwam Posts: 12,635 Founders Club

    Bob_C said:

    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
    Sellers need prices to go up or stay relatively flat to justify trading into a higher rate mortgage and maintain a similar lifestyle. Buyers need them to go down to justify the current rates in monthly payments. Lack of economic mobility is a very bad thing when an economy is already stalled out. As @UW_Doog_Bot said in another thread recently, there's a complete mismatch in the market (also in other financial markets for similar reasons) and something will have to give.
    It will be investors/sellers just like any commodity market once it starts to slip it will have to find bottom. First out wins.

    There's something like 14 million investor owned vacant homes. Why hold real estate when a bond will make a better return? Even a 5% divestment of that stock would crash the shit out of the market.

    Prices and what makes sense is so out of whack in other stuff too. Just got back some shipping quotes to move 10 pallets of goods from Italy to the US. 2 day air shipping is cheaper than ocean. Have never seen that before, usually air is like 5-6x ocean. Economy is so strange, everything is weird.
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    Bob_C said:

    Bob_C said:

    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
    Sellers need prices to go up or stay relatively flat to justify trading into a higher rate mortgage and maintain a similar lifestyle. Buyers need them to go down to justify the current rates in monthly payments. Lack of economic mobility is a very bad thing when an economy is already stalled out. As @UW_Doog_Bot said in another thread recently, there's a complete mismatch in the market (also in other financial markets for similar reasons) and something will have to give.
    It will be investors/sellers just like any commodity market once it starts to slip it will have to find bottom. First out wins.

    There's something like 14 million investor owned vacant homes. Why hold real estate when a bond will make a better return? Even a 5% divestment of that stock would crash the shit out of the market.

    Prices and what makes sense is so out of whack in other stuff too. Just got back some shipping quotes to move 10 pallets of goods from Italy to the US. 2 day air shipping is cheaper than ocean. Have never seen that before, usually air is like 5-6x ocean. Economy is so strange, everything is weird.
    Just wait until China bubble really collapses. There's going to be bidding wars for things like spare engine parts like spark plugs. It's going to be a shit show.

    That plus a credit crunch and maybe deflation, capital destruction? Idk we are sailing into new and dangerous waters similar to when stagflation first happened and we needed new models to explain it.

    But hey guys! Inflation is now only 3.9%!
  • RoadTrip
    RoadTrip Member Posts: 8,145

    Bob_C said:

    Bob_C said:

    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
    Sellers need prices to go up or stay relatively flat to justify trading into a higher rate mortgage and maintain a similar lifestyle. Buyers need them to go down to justify the current rates in monthly payments. Lack of economic mobility is a very bad thing when an economy is already stalled out. As @UW_Doog_Bot said in another thread recently, there's a complete mismatch in the market (also in other financial markets for similar reasons) and something will have to give.
    It will be investors/sellers just like any commodity market once it starts to slip it will have to find bottom. First out wins.

    There's something like 14 million investor owned vacant homes. Why hold real estate when a bond will make a better return? Even a 5% divestment of that stock would crash the shit out of the market.

    Prices and what makes sense is so out of whack in other stuff too. Just got back some shipping quotes to move 10 pallets of goods from Italy to the US. 2 day air shipping is cheaper than ocean. Have never seen that before, usually air is like 5-6x ocean. Economy is so strange, everything is weird.
    Just wait until China bubble really collapses. There's going to be bidding wars for things like spare engine parts like spark plugs. It's going to be a shit show.

    That plus a credit crunch and maybe deflation, capital destruction? Idk we are sailing into new and dangerous waters similar to when stagflation first happened and we needed new models to explain it.

    But hey guys! Inflation is now only 3.9%!
    Where'd the economic genius go? Piss Boy working overtime?
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    RoadTrip said:

    Bob_C said:

    Bob_C said:

    HHusky said:

    Sources said:

    HHusky said:

    thechatch said:

    HHusky said:

    Bob_C said:

    HHusky said:

    Mortgage rates are over 7. Not that long ago they were 3.5 or something. Winning!

    Oh no!

    Over 7%!!!

    Only worth like $1000/month to the buyer on a $400k mortgage. No biggie.
    Mortgage rates can go all the way to 7?!?!

    unprecedented

    if you're under 30
    You’re such a dishonest little shit. Look at the median cost of a home.

    I realize you don’t give a fuck because at 65 or whatever you’re across the finish line on your home loan, but this is a huge problem for people in their 20s and 30s wanting to own their own house.

    But keep up with the snark and glib replies that always fall flat. Even the dummies on this board see right through your bullshit.
    10.25% was an issue when I bought my first home too.

    You seem to ignore the fact that sellers are also impacted by rising rates.

    But rates at 3 - 4% was always going to be the aberration.
    Great, and what was the cost of that home? It doesn't work when home prices are incredibly inflated and rates are skyrocketing

    If you think the macroeconomic climate is remotely comparable to whenever you were young, you're as addled as Biden
    In fact, those two conditions cannot co-exist for very long.

    I bought into the year 1990's "incredibly inflated" home values and paid 10.25% for the loan. The price then seemed just as absurd then as prices do now and within the year there was a "correction". And interest rates came all the way down to 6 - 7% too by 1993.

    Nothing new under the sun.
    You should take a look at your home price then versus today's dollars. The first home my parents bought for $165,000 in 1993 would be about $350,000 in 2023 dollars. Zillow says it's worth $1,042,000. 300% increase over 30 years doesn't seem very normal or healthy. That's 10% a year, on average, with the bulk of it coming over the past 6-7 years.

    I don't think you're very aware of just how short on supply the housing market is, nor the other external factors present today which were not around in 1993. In the example above, the house would have to lose half of its value to become close to "affordable" for the average household in Snohomish County with where rates are right now.
    Sellers need prices to go up or stay relatively flat to justify trading into a higher rate mortgage and maintain a similar lifestyle. Buyers need them to go down to justify the current rates in monthly payments. Lack of economic mobility is a very bad thing when an economy is already stalled out. As @UW_Doog_Bot said in another thread recently, there's a complete mismatch in the market (also in other financial markets for similar reasons) and something will have to give.
    It will be investors/sellers just like any commodity market once it starts to slip it will have to find bottom. First out wins.

    There's something like 14 million investor owned vacant homes. Why hold real estate when a bond will make a better return? Even a 5% divestment of that stock would crash the shit out of the market.

    Prices and what makes sense is so out of whack in other stuff too. Just got back some shipping quotes to move 10 pallets of goods from Italy to the US. 2 day air shipping is cheaper than ocean. Have never seen that before, usually air is like 5-6x ocean. Economy is so strange, everything is weird.
    Just wait until China bubble really collapses. There's going to be bidding wars for things like spare engine parts like spark plugs. It's going to be a shit show.

    That plus a credit crunch and maybe deflation, capital destruction? Idk we are sailing into new and dangerous waters similar to when stagflation first happened and we needed new models to explain it.

    But hey guys! Inflation is now only 3.9%!
    Where'd the economic genius go? Piss Boy working overtime?


    @HHusky why don't you want to talk about how great 3.9% inflation is?
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club


    Math, it's hard.
  • HHusky
    HHusky Member Posts: 23,881



    Math, it's hard.

    Thanks Captain Obvious!
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    HHusky said:



    Math, it's hard.

    Thanks Captain Obvious!
    I felt you needed a hand explaining why cumulative inflation is different from the current rate.

    Do elaborate on your op for us though. I'm giddy with anticipation.
  • HHusky
    HHusky Member Posts: 23,881

    HHusky said:



    Math, it's hard.

    Thanks Captain Obvious!
    I felt you needed a hand explaining why cumulative inflation is different from the current rate.

    Do elaborate on your op for us though. I'm giddy with anticipation.
    Golly! It's like compounding interest! You're quite the insightful bastard, aren't you?
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,040 Founders Club
    HHusky said:

    HHusky said:



    Math, it's hard.

    Thanks Captain Obvious!
    I felt you needed a hand explaining why cumulative inflation is different from the current rate.

    Do elaborate on your op for us though. I'm giddy with anticipation.
    Golly! It's like compounding interest! You're quite the insightful bastard, aren't you?
    Still, seems like a hard concept for you to grasp.

    Please, whenever you're ready, expand on the op.