Will the BBB have any impact on the housing market?

[Anonymous]

In about 19 months I'll have the 20% down payment I need to buy a house. Hopefully by then home prices have stopped going up or at least significantly slowed down and interest rates are below 6%. I know I am dreaming but we are allowed to dream lol.

If the BBB is passed by Congress, will it have any impact on the housing market? Is there any provision in it that will make housing more expensive?

[Anonymous]

What does BBB intel?

[Anonymous]

Trump’s Big Beautiful Bill. Also known as one step closer to the utter destruction of our country.

[Anonymous]

hopefully powell gets fired and someone can drop the rates to a reasonable 3-4% right now he's being stubborn and is again acting too late

[Anonymous]

I'm sorry, do you mean BBoS? Big Bill of Shit?

[Anonymous]

Rates should go down after.

[Anonymous]

It depends on the bond market. If the 10 years rate starts going up because investors are worried about the US's debt level then they will ask more to hold out debt. Then the bank that will lend you money to buy your house will also ask you more by charging you higher interests.

[Anonymous]

Anonymous wrote:hopefully powell gets fired and someone can drop the rates to a reasonable 3-4% right now he's being stubborn and is again acting too late

Right, and then due to inflation prices become out of control. The crazy low interest rates seen after covid shouldn't be back for a long time if you have intelligent people in charge

[Anonymous]

Anonymous wrote:hopefully powell gets fired and someone can drop the rates to a reasonable 3-4% right now he's being stubborn and is again acting too late

You could drop rates to 1% but if people believe the deficit is increasing (which it is) and tariffs are causing inflation (which they are), the 10 year rate which is the basis of all mortgages won’t go anywhere.

[Anonymous]

Anonymous wrote:

Anonymous wrote:hopefully powell gets fired and someone can drop the rates to a reasonable 3-4% right now he's being stubborn and is again acting too late

Right, and then due to inflation prices become out of control. The crazy low interest rates seen after covid shouldn't be back for a long time if you have intelligent people in charge

Those crazy low interest rates shouldn’t be back in our lifetime. They are the cause of the runaway housing market, which is not sustainable.

[Anonymous]

Rates will increase. This bill is crazy irresponsible and we’ll pay way more for debt because of it

[Anonymous]

Anonymous wrote:hopefully powell gets fired and someone can drop the rates to a reasonable 3-4% right now he's being stubborn and is again acting too late

You're an idiot! Home sale prices will double

[Anonymous]

BBB will be hugely helpful home sales in areas with very high property taxes.

Chicago, Long Island, NJ etc homes with 25k to 40K property taxes on nothing special homes have been harder to sell since the tax code changes to 10K only SALT write off. This will help a lot.

[Anonymous]

Home prices will continue to rise above inflation because of supply demand imbalance, although at the low end maybe not as much because so many fewer illegals? Rates will remain high so get used to spending 50% of income on housing.

On the bright side the 1% will do VERY well so we can all get second jobs fanning them with palm leaves.

[Anonymous]

Anonymous wrote:Home prices will continue to rise above inflation because of supply demand imbalance, although at the low end maybe not as much because so many fewer illegals? Rates will remain high so get used to spending 50% of income on housing.

On the bright side the 1% will do VERY well so we can all get second jobs fanning them with palm leaves.

You can't get approved for a mortgage if you are spending 50% of your income on housing. Tell us a mortgage lender that takes that kind of risk I'm curious.