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Real Estate
Reply to "Isn't trading up going to end as folks are priced out?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There is an article that shows how the housing market is stuck because of these crushing mortgage rates. No one is going to give up their reasonable sub 3% rate for the crazy 5%+ rates[/quote] What area? Homes are still going quickly in my neighborhood and frequently above asking. None of the new owners I’ve met are 1st time buyers, they’ve all sold and taken on the bigger mortgage. [/quote] No PP, but instead of writing "no one one is going to give up their reasonable sub 3% rate" they should have written "no one smart is going to give up their reasonable sub 3% rate." Lots of fools get caught up in keeping up with the Joneses in the DMV, which often leads to poor financial decisions. My neighbors are leasing a Range Rover, lol. Because they don't have the money to buy one. [/quote]
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