I think that could change if rates don't come back down, people are going to

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May 18, 2022
4:00:28pm

johnnybyu All-American

I think that could change if rates don't come back down, people are going to

stay in their low rate loan houses unless prices come down or rates come back down. A huge part will be cost of ownership. If prices stay up and rates are up their will be limited movement. If prices or rates come back down we will see more movement.

This message has been modified

Originally posted on May 18, 2022 at 4:00:28pm

Message modified by johnnybyu on May 18, 2022 at 4:03:02pm

Message modified by johnnybyu on May 18, 2022 at 4:12:32pm

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johnnybyu

Bio page: johnnybyu
Joined: Jun 6, 2002
Last login: May 5, 2024
Total posts: 14,808 (1 FO)

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Messages

Author

Time

Hope you've got equity in your house.

Niiineteeen84 Blowhard

5/18/22 11:55am

What a disaster

TNT

5/18/22 11:58am

Housing only goes up though?

JollyGreenGiant

5/18/22 11:58am

RE: Housing only goes up though?

Hotlanta

5/18/22 12:05pm

Equity in a home is pretty worthless and fictional unless you sell or leverage.

byubyu

5/18/22 12:00pm

But it is leverage and protection from recession consequences, including

fbguru

5/18/22 12:11pm

There are very few things I think the government touches and makes better.

crack

5/18/22 12:10pm

Dammed if you do, dammed if you don't. This is the end result every time the Federal government tries to intervene to

SingleStrapBackpack

5/18/22 12:11pm

lol. Having to post with "dammed" is peak CB

letthewookieewin

5/18/22 12:13pm

Pretty sure you can go ahead and use "damned" when used in the context in this post (ie condemned to suffer in Hell)

Greg Kite's 'stache

5/18/22 1:48pm

They'll let the loans pay off themselves

NJBYUFan

5/18/22 12:23pm

What are borrowers refinancing into though? we'll never see better rates than

Iman23

5/18/22 12:26pm

I could see rates getting pretty low again in 2 years as Fed tries to get us out

johnnybyu

5/18/22 3:57pm

That works well when people have an incentive to refinance. But nobody has that incentive when rates are on the rise and

SingleStrapBackpack

5/18/22 12:35pm

I agree there a not attractive refi choices however

NJBYUFan

5/18/22 1:02pm

Of course they will. But you said the average buyer refis or sells every 2-3 years. That's dependent on a lot of refis.

SingleStrapBackpack

5/18/22 1:24pm

people cashing out their equity are still refinancing even with the higher rates

Gente_Boa

5/18/22 1:08pm

Yes, some will do that now but there is a limited pool of people that will do that. And if/when prices decrease due to

SingleStrapBackpack

5/18/22 1:24pm

Yes, but many loans will also be paid off due to people moving

Gente_Boa

5/18/22 2:16pm

That is all also true, but it doesn't lead to people moving or doing a refi every 2-3 years, which is the claim this

SingleStrapBackpack

5/18/22 2:33pm

I think that could change if rates don't come back down, people are going to

johnnybyu

5/18/22 4:00pm

Some will but cashing out equity when you get a lower rate is a lot easier than

johnnybyu

5/18/22 3:59pm

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