30-year mortgage has doubled since January thanks to Biden’s “Build Back Better”. I’m sure Biden will figure out how to blame Putin for this.
My first home I purchased in 1991 had a 6% interest I believe. My last home was at 5.85% back in 2004. But going down to just a couple percent, I thought they would NEVER go back up. Do you think it will go back to the latest 80’s where it was 9% or 13%??
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These homes for sale will stay at their current price through summer. Then in August or September, you’re going to see some big price cuts in homes for sale.
Cash is king, later this fall you’re going to see some bargains
Where I live east of seattle, lot’s of Indian’s and Asians were purchasing their first homes at $1.5m and higher. They all are using adjustable rate mortgages… How they passed the credit test is beyond me…
They all have purchased Tesla’s too… They are maxxed out and the price of tech stock has drop 20% or more…
When that happened in 2008, a lot of Indian’s just dropped the keys and returned to India…
h/t John Dutton
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