Mar 8, 2022
9:50:53am
9:50:53am
Only if rental rates drop a lot. Few people are going to sell to save their
equity if it means moving out of their house and in to a higher priced apartment to rent. Homeowners with sub 3% mortgages are not going to be selling their homes. Rents did not drop during 2008 and 2010 and I don't think they will now. What happened then is rents were much lower than the cost of highly leveraged and sometime negative ammortized mortgages. That is not the case today. Mortgage payments for anyone that bought or refinanced a year ago or longer are much lower than rents. If you are buying today your mortgage is probably higher than rents with current prices and rates so buying right now is a bit risky.
Originally posted on Mar 8, 2022 at 9:50:53am
Message modified by johnnybyu on Mar 8, 2022 at 9:53:02am
Message modified by johnnybyu on Mar 8, 2022 at 10:00:05am
Message modified by johnnybyu on Mar 8, 2022 at 10:00:36am
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3/8/22 9:02am
3/8/22 9:05am
3/8/22 9:14am
The reason they say that is because they don't know any better and just want to sell homes. Come on now. Ragnar is right
3/8/22 9:16am
There’s only a lack of inventory relative to a given amount of demand. When people cite a shortage as a reason prices
3/8/22 9:35am
3/8/22 12:02pm
3/8/22 1:07pm
3/8/22 1:38pm
3/8/22 2:49pm
3/8/22 3:01pm
3/8/22 9:57am
3/8/22 9:20am
I think people are sitting on a lot of equity in their homes. They may have mortgaged to the max when they bought but
3/8/22 9:27am
3/8/22 9:31am
3/8/22 9:51am
3/8/22 10:51am