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Real Estate
Reply to "S/O when interest rates go down, prices will go down."
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[quote=Anonymous][quote=Anonymous]Why would prices go down? Feds are soon to get a 5% raise across the board, and strong tech and businesses will follow suit. Mid-career couples will find themselves with a hefty pay increase compared to where they were this summer. So I don't see how that is a downward pressure on bids and competition come springtime given how crazy it already is.[/quote] I dont think the prices will come down either, they will either stagnate or the rate of rise in prices will slow down. However, I fail to see how a 5% increase for the Feds will have any effect on the prices. Fed salaries are relatively low (justifiably in my view), and a 5% increase on for example, 150k is only 7500k (and even less after taxes more like 5k). Even if we take the highest band GS15 Step 10, that's 183k now, and will only rise by 9k gross, or more like 6k after taxes. I fail to see how such a small increase will effect someone's buying power in any meaningful way. [/quote]
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