Reply to Isn't trading up going to end as folks are priced out?

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Reply to "Isn't trading up going to end as folks are priced out?"

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[quote=Anonymous][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]

Are you 12 years old, or just have no knowledge of history at all?

I'm not disputing that years of historically low rates have creates pressure on inventory, but calling 5-6% rates "crushing" is pure idiocy.  [/quote]

With starter home prices in my area at 1m there is a major difference in 20% down on 3% and 6%. 6% rates make the monthly mortgage go up by 2K. its crushing, this is the realities we live in no rates should be that high with the value of the current homes, home values never go down in the DC area and right now the supply is tight. Someone needs to address this rate and the govt solutions of a few thousand downpayment assistance do nothing, its the rate dummy.[/quote]

So you think interest rates should be determined solely by home prices, without considering anything else?  No other factors in the national and global economy.  THe Fed's sole concern should be making it easy for people to buy homes?  That's so simple-minded it's almost Trumpian.  [/quote]

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