Interest rates at 6.6%. Not great, but not killer either.

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Jul 5, 2022
12:33:36pm

Babyboy All-American

Interest rates at 6.6%. Not great, but not killer either.

This message has been modified

Originally posted on Jul 5, 2022 at 12:33:36pm

Message modified by Babyboy on Jul 5, 2022 at 12:38:29pm

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Babyboy

Bio page: Babyboy
Joined: Oct 8, 2004
Last login: Apr 23, 2024
Total posts: 4,152 (3 FO)

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Messages

Author

Time

Why your kids probably wont own homes. This guy...

Shore10

7/5/22 12:21pm

I didn’t hear anything that indicated your children will not own a house

Babyboy

7/5/22 12:29pm

By your board name, I see you need to be spoon fed.

Shore10

7/5/22 12:31pm

Interest rates at 6.6%. Not great, but not killer either.

Babyboy

7/5/22 12:33pm

Not bad compared to what?

Shore10

7/5/22 12:34pm

It's not just interest rates, it's inventory has been bought up by investors

runnincoug

7/5/22 12:41pm

He knows. It's just easier to dismiss the situation.

Shore10

7/5/22 12:42pm

Interest rates may have been too low but the bigger problem is lack of housing

VenturaCoug

7/5/22 12:50pm

Much of the built supply now goes directly to rentals.

Shore10

7/5/22 1:12pm

Some of it does, but again that’s because supply is too low. Whether it’s

VenturaCoug

7/5/22 2:20pm

Very few homes...let's get some numbers behind how many homes these investors are actually buying and holding.

7/5/22 1:12pm

Plenty of affordable places to live and buy a home right now.

byubyu

7/5/22 12:32pm

Just quit the avocado toast and use a flip phone. Money problems solved!

stenso

7/5/22 12:36pm

There are new homes for sale in the 300s within an hour of the following cities:

byubyu

7/5/22 12:46pm

300k at 6.6% interest with gas at $5/gallon? Yes very cheap boomer.

Shore10

7/5/22 1:06pm

I never said very cheap. I said affordable. A mortgage payment on those type of

byubyu

7/5/22 1:09pm

So people that have to drive 2 hrs each day is affordable? Ok.

Shore10

7/5/22 1:11pm

yeah, that's proving the point of why our kids won't be able to buy a home.

runnincoug

7/5/22 1:13pm

I didn't say they needed to commute into those cities.

byubyu

7/5/22 1:19pm

Wow, personal attack. That's a great way to make a point!

runnincoug

7/5/22 1:25pm

My kids won't have any problem buying a home. They go out and find solutions.

byubyu

7/5/22 1:28pm

Wow, you really are bitter today. You're coming on strong when I don't recall

runnincoug

7/5/22 1:49pm

There's a crash coming. People will be able to purchase homes again.

byubyu

7/5/22 1:53pm

Nashville’s housing market is pretty rough.

JoBangles

7/5/22 1:33pm

Stop making excuses. BYUBYU is a winner. Follow his lead.

Shore10

7/5/22 1:35pm

Great pay an hour outside of those cities.

Shore10

7/5/22 1:36pm

Rent in Provo then. Your choice.

byubyu

7/5/22 1:46pm

There are an estimated 84.29 million single family homes in America. This guy and all his buddies put together

7/5/22 1:10pm

18% of homes just last year were bought by investors. They are "squeezing" out

runnincoug

7/5/22 1:15pm

How many entities make up that 18%? Likely close to tens of thousands. They don't have a monopoly anywhere.

7/5/22 1:40pm

Ok.

Shore10

7/5/22 1:29pm

The vast majority of homes are still being purchased by individuals. 18% is not "setting the market."

7/5/22 1:35pm

Ok. They have no influence on the market.

Shore10

7/5/22 1:38pm

RE: Ok. They have no influence on the market.

7/5/22 1:41pm

The problem is they tend to concentrate on the starter home market. so ...

runnincoug

7/5/22 1:52pm

I can't see the article, behind a paywall.

7/5/22 2:38pm

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