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Real Estate
Reply to "Feels like market is hitting a wall"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]There's no inventory. People with 2-4 percent rates are not gonna sell and take on an 8 percent rate mortgage unless they absolutely have to, and the rates are scaring away potential first-time buyers (unless they are rich enough to pay cash). The market is essentially frozen.[/quote] Buyers can always refinance later....[/quote] It is unlikely that rates will ever be below 3% again. We just got spoiled over the last few years. Looking at historic mortgage rates. 5% - 7% is not unreasonable.[/quote] I don't believe this. With the amount of Federal debt outstanding, the interest obligations on said debt increase exponentially as rates continue to increase. We will eventually end up like Japan, with yield curve control implemented by their central bank as a buyer of last resort. [/quote]
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