got quoted for 4.625 percent 30 year fixed loan today (high conforming LTV of 85)

[Anonymous]

I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

[Anonymous]

Anonymous wrote:It's still lower than our original mortgage rate!

+1

I’m so old that I still think 4-5% is “low”.

[Anonymous]

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

And this area will still see home prices rise. You just won’t be seeing anymore old shacks for nearly 2 million anymore. Quite frankly, we need a correction like this.

[Anonymous]

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

where did you see this?

[Anonymous]

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

The market didn't crash until late 2008, FYI. And into 2009. 2007 was still part of the peak years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

The market didn't crash until late 2008, FYI. And into 2009. 2007 was still part of the peak years.

Yes but I specifically remember headlines like this popping up in 2007. People were just delusional like they are today.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

where did you see this?

Top headline on MarketWatch (at least earlier today)

[Anonymous]

Anonymous wrote:

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

And this area will still see home prices rise. You just won’t be seeing anymore old shacks for nearly 2 million anymore. Quite frankly, we need a correction like this.

This is what people said last time and we bought our house in 2010 at a 30%ish discount. But keep kidding yourself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

And this area will still see home prices rise. You just won’t be seeing anymore old shacks for nearly 2 million anymore. Quite frankly, we need a correction like this.

This is what people said last time and we bought our house in 2010 at a 30%ish discount. But keep kidding yourself.

Where was this?

[Anonymous]

Try Tower FCU. Good rates, efficient staff. You're not going to get the 2.875 I got there a couple of months ago, but it will be better than what you're quoting.

[Anonymous]

This may sound harsh but not everybody gets big single family homes with yards. You need to be realistic given your income and savings. My husband and I have respectable jobs with health insurance that we enjoy. We each make about 80-90k. A single family home in Bethesda is not happening. We bought a sweet little condo in a quiet complex in a great school district and we have one amazing child and two paid off used cars. We are comfortable and happy. Instagram makes everyone think they are entitled to three kids and a bespoke modern farmhouse with a killer master bath. Nope. Sorry. Life isn’t fair but it can still be wonderful if you get real with the hand you’ve been dealt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's still lower than our original mortgage rate!

+1

I’m so old that I still think 4-5% is “low”.

It is. I bought my first home in 2017 at 4.25 and considered it practically free money.

[Anonymous]

Anonymous wrote:This may sound harsh but not everybody gets big single family homes with yards. You need to be realistic given your income and savings. My husband and I have respectable jobs with health insurance that we enjoy. We each make about 80-90k. A single family home in Bethesda is not happening. We bought a sweet little condo in a quiet complex in a great school district and we have one amazing child and two paid off used cars. We are comfortable and happy. Instagram makes everyone think they are entitled to three kids and a bespoke modern farmhouse with a killer master bath. Nope. Sorry. Life isn’t fair but it can still be wonderful if you get real with the hand you’ve been dealt.

Condos aren't cheap either when you factor in condo fees... just saying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

And this area will still see home prices rise. You just won’t be seeing anymore old shacks for nearly 2 million anymore. Quite frankly, we need a correction like this.

This is what people said last time and we bought our house in 2010 at a 30%ish discount. But keep kidding yourself.

Buying in 2010 in someplace like West Virginia doesn’t count as the dmv.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I saw a headline today: “The housing market is in the early stages of a substantial downshift; Home sales may drop 25% by the end of Summer, according to this analyst”

It feels like 2007 all over with housing and stocks. Buckle up folks.

The market didn't crash until late 2008, FYI. And into 2009. 2007 was still part of the peak years.

OK sure. I bought in late 2007, and paid 16% less than the prior owner who had purchased in mid 2005. Property sat on the market for about six months before I bought it.