I got my home 9 months ago at 2.5 %. It would have to be 180K less for the same

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Sep 28, 2022
9:18:55am

cougaman Intervention Needed

I got my home 9 months ago at 2.5 %. It would have to be 180K less for the same

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This message has been modified

Originally posted on Sep 28, 2022 at 9:18:55am

Message modified by cougaman on Sep 28, 2022 at 9:23:36am

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cougaman

Bio page: cougaman
Joined: Mar 11, 2006
Last login: Jun 1, 2024
Total posts: 68,971 (4,573 FO)

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Messages

Author

Time

A 4% increase in mortgage rates (e.g., 3% to 7%) would require a 36-37% drop in

garyfan

9/28/22 9:16am

I'm curious when builders will start building smaller homes. It's shocking that

9/28/22 9:18am

Extremely frustrating, but I get it - why build a starter home

9/28/22 9:29am

Townhomes are the new starter home. And with association fees, some people are

fredgarvin

9/28/22 9:31am

The increase in regulation and government costs have made starter homes

compcoug

9/28/22 9:37am

Blame Regulations. When you have to spend $100k in fees before you put a shovel

Iman23

9/28/22 9:43am

Land is too much, plus permitting etc. as others said, condos/townhomes will the

BNcoug

9/28/22 9:45am

I got my home 9 months ago at 2.5 %. It would have to be 180K less for the same

cougaman

9/28/22 9:18am

I am moving for a new job. We wanted to buy a home by fall 2023. Not sure what

NumbersGuy

9/28/22 9:19am

Moving for a new job these days means it had better be for a massive raise.

9/28/22 9:21am

Unless you are making a bunch of the sale of a home, which many still are.

CrimsonCoug81

9/28/22 9:24am

Problem is you are selling a home with a much lower interest rate so the home

cougaman

9/28/22 9:29am

I will effectively quadruple my salary, so it's worth it.

NumbersGuy

9/29/22 3:07pm

Yes, it won’t equal out. Housing will simply be more expensive until rates come

BlooCoog

9/28/22 9:27am

Sure prices haven't dropped that far yet but homes are still sitting longer

rad dawg

9/28/22 9:28am

The homes in my neighborhood are not moving.

TheHop

9/28/22 9:31am

Hearing that a lot.

rad dawg

9/28/22 9:41am

Yeah, prices are definitely down and houses are definitely sitting longer.

garyfan

9/28/22 9:40am

Lots of houses in my area of CO sitting for a month or more, even after price

303coug

9/28/22 9:42am

Unless there is a huge increase in the # of homes hitting the market you will

Gente_Boa

9/28/22 10:12am

Agree for the most part. Some people will need to sell and it is a terrible tim

johnnybyu

9/28/22 10:24am

I wish I could share that optimism and yes I think its optimistic

rad dawg

9/28/22 10:49am

It’s absolutely going to be challenging. I see All nonessential assets plunging

johnnybyu

9/28/22 11:45am

Demand should stay somewhat strong since many will buy with intention to simply

bluebrotha

9/28/22 10:38am

I don't think demand will stay strong because people can't qualify. I do think

johnnybyu

9/28/22 10:46am

We can just collect aluminum cans to save money, just start there

Alpi Gusto

9/28/22 10:25am

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