Need to buy a house Wait until September
#7572912
04/29/22 07:16 PM
04/29/22 07:16 PM
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Joined: Feb 2014
Posts: 13,157 Ky
jbyrd63
OP
trapper
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OP
trapper
Joined: Feb 2014
Posts: 13,157
Ky
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Homes sales will plummet in next couple months Showings and inquiries dropped almost 40 % in April. Down almost 60% from high By September house prices will be close to real values. You heard it hear first !
Last edited by jbyrd63; 04/29/22 08:04 PM.
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Re: Need to buy a house Wait until September
[Re: jbyrd63]
#7572919
04/29/22 07:23 PM
04/29/22 07:23 PM
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Joined: May 2010
Posts: 10,491 MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,491
MN
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What constitutes a plummet?
20 percent?
More?
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Need to buy a house Wait until September
[Re: jbyrd63]
#7572920
04/29/22 07:25 PM
04/29/22 07:25 PM
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Joined: Oct 2009
Posts: 7,396 western mn
bucksnbears
trapper
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trapper
Joined: Oct 2009
Posts: 7,396
western mn
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OK!!
Should we wait till early or late September?
swampgas chili and schmidt beer makes for a deadly combo
You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
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Re: Need to buy a house Wait until September
[Re: jbyrd63]
#7572925
04/29/22 07:43 PM
04/29/22 07:43 PM
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Joined: Nov 2008
Posts: 1,849 Michigan
Michigander
trapper
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trapper
Joined: Nov 2008
Posts: 1,849
Michigan
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Prices haven't dropped around here yet but now you are getting double screwed from high price and higher interest. Interest rates are around 5% now. Buying a house at 350k with 2% interest is the same payment as 240k at 5%. 350k at 2% is 1300/month. At 5% its pushing 1900.
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Re: Need to buy a house Wait until September
[Re: Michigander]
#7572952
04/29/22 08:07 PM
04/29/22 08:07 PM
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Joined: Feb 2014
Posts: 13,157 Ky
jbyrd63
OP
trapper
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OP
trapper
Joined: Feb 2014
Posts: 13,157
Ky
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Prices haven't dropped around here yet but now you are getting double screwed from high price and higher interest. Interest rates are around 5% now. Buying a house at 350k with 2% interest is the same payment as 240k at 5%. 350k at 2% is 1300/month. At 5% its pushing 1900.
Yea and stock market was up 900 plus YESTERDAY! The things you named is why my prediction will come true ! By September money will run out , people will come to their senses
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Re: Need to buy a house Wait until September
[Re: Michigander]
#7572975
04/29/22 08:25 PM
04/29/22 08:25 PM
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Joined: Dec 2010
Posts: 11,207 Armpit, ak
Dirt
trapper
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trapper
Joined: Dec 2010
Posts: 11,207
Armpit, ak
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Prices haven't dropped around here yet but now you are getting double screwed from high price and higher interest. Interest rates are around 5% now. Buying a house at 350k with 2% interest is the same payment as 240k at 5%. 350k at 2% is 1300/month. At 5% its pushing 1900.
"When the rate of inflation goes up, the fixed-interest rate financing you took out costs you less than when you took out the loan since the dollar has lost some of its value. You’re essentially paying the lender back money that’s worth less than what it was when you took out the loan. Not only that, but wages and revenues tend to rise during periods of high inflation. So, if you’re making more money but your monthly payments for your financing stay the same, then the payments take up a smaller percentage of your working capital." If mortgage rates stay under inflation rates, I'm not sure you are paying any interest?
Who is John Galt?
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Re: Need to buy a house Wait until September
[Re: jbyrd63]
#7573070
04/29/22 10:13 PM
04/29/22 10:13 PM
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J Staton
Unregistered
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J Staton
Unregistered
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Fingers crossed. Need a housing crash so lumber will go down. Had a box stand not survive a spin up and I need to build another one.
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Re: Need to buy a house Wait until September
[Re: trapdog1]
#7573073
04/29/22 10:15 PM
04/29/22 10:15 PM
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Joined: Dec 2006
Posts: 9,143 Coldspring Texas
Savell
"Wilbur"
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"Wilbur"
Joined: Dec 2006
Posts: 9,143
Coldspring Texas
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Good God, Savell. That's just wrong. I know ... pellet smokers are wrong on many levels
Insert profound nonsense here
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Re: Need to buy a house Wait until September
[Re: Savell]
#7573075
04/29/22 10:19 PM
04/29/22 10:19 PM
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Joined: Jan 2019
Posts: 162 Maine
Trippin Traps
trapper
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trapper
Joined: Jan 2019
Posts: 162
Maine
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Haha Good God, Savell. That's just wrong. I know ... pellet smokers are wrong on many levels
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