Anonymous
05/26/2023 15:29
Subject: Re:Will student loan repayment resumption crash the housing market?
Anonymous wrote:Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.
Exactly. People in debt aren’t taking on mortgages. That would not be a wise move at all.
Pay off those student loans first.
Yes they are. You may not think they should be, but they certainly are.
Anonymous
05/26/2023 15:28
Subject: Re:Will student loan repayment resumption crash the housing market?
Anonymous wrote:Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.
Exactly. People in debt aren’t taking on mortgages. That would not be a wise move at all.
Pay off those student loans first.
Sounds pretty stupid to me... to wait to purchase a home as prices rise just to pay off some debt? Purchase a home when you can afford one.
Anonymous
05/26/2023 14:10
Subject: Will student loan repayment resumption crash the housing market?
There has been a recent surge in prices in this area (last couple months), and I can't help but wonder if people are rushing to beat the repayment start. I'm personally waiting things out because I think the impact will be significant, and we'll know soon enough. I own now and am looking to trade up, so I am not in any rush.
Anonymous
05/26/2023 13:58
Subject: Will student loan repayment resumption crash the housing market?
Anonymous wrote:No. But I love the obsession here that any and everything will cause a housing market crash. This is the new - when will prices drop thread - that we’ve been dealing with since 2018.
Amen. It's like people have completely forgotten the crazy lending practices that led up to/contributed to the 2008 crash - nothing down, NINJA mortgages, 5 year ARMS taken out knowing they couldn't pay if they didn't sell, etc.
Resumption of student loan payments isn't going to cause even a blip.
Anonymous
05/26/2023 13:26
Subject: Re:Will student loan repayment resumption crash the housing market?
Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.
Exactly. People in debt aren’t taking on mortgages. That would not be a wise move at all.
Pay off those student loans first.
Anonymous
05/26/2023 13:11
Subject: Will student loan repayment resumption crash the housing market?
No. But I love the obsession here that any and everything will cause a housing market crash. This is the new - when will prices drop thread - that we’ve been dealing with since 2018.
Anonymous
05/26/2023 13:08
Subject: Re:Will student loan repayment resumption crash the housing market?
Anonymous wrote:Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.
You don’t think doctors, MBAs and lawyers were buying homes?
"For whom this affects" = people who would be financially devastated if they had to actually pay their student loans, to the point that they'd have to sell their house or not buy a house. Doctors, lawyers & other professional classes with concomitant salaries can pay all their bills, even if it means they save less.
Anonymous
05/26/2023 13:04
Subject: Re:Will student loan repayment resumption crash the housing market?
Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.
You don’t think doctors, MBAs and lawyers were buying homes?
Anonymous
05/26/2023 13:01
Subject: Will student loan repayment resumption crash the housing market?
Remember that everyone on DCUM has been saving all their student loan money for the past 3 years and will be paying a lump sum? LOL. Honestly, I am think going back into repayment will effect some personal spending. Maybe car buying?
Anonymous
05/26/2023 12:50
Subject: Will student loan repayment resumption crash the housing market?
Anonymous wrote:Yes, it will. Lots of people were able to qualify for bigger mortgages than they will not qualify for, plus that extra $2000 to $3000 in monthly payments will absolutely impact affordability.
I know a couple people who bought houses in the $1.4 to $1.7 million range who absolutely are still on the hook for massive student loans, so this is not just a poor person problem. It's actually smart to not pay when you're not required to, and to only pay the minimum required when the interest rate on the loans is so low.
Historically, student loan rates haven't been low, though. 5% looks okay-ish now for federal undergrad subsidized, but 7.5 for a PLUS doesn't look great
And those are federal. Private student loans can go as high as 12-14
Anonymous
05/26/2023 12:41
Subject: Will student loan repayment resumption crash the housing market?
Yes, it will. Lots of people were able to qualify for bigger mortgages than they will not qualify for, plus that extra $2000 to $3000 in monthly payments will absolutely impact affordability.
I know a couple people who bought houses in the $1.4 to $1.7 million range who absolutely are still on the hook for massive student loans, so this is not just a poor person problem. It's actually smart to not pay when you're not required to, and to only pay the minimum required when the interest rate on the loans is so low.
I know a couple people who bought houses in the $1.4 to $1.7 million range who absolutely are still on the hook for massive student loans, so this is not just a poor person problem. It's actually smart to not pay when you're not required to, and to only pay the minimum required when the interest rate on the loans is so low.
Anonymous
05/26/2023 11:45
Subject: Will student loan repayment resumption crash the housing market?
No, all cash buyers aren’t paying student loans.
If anything it will make the shortage of homes for first time buyers worse bc more people will need cheaper homes.
If anything it will make the shortage of homes for first time buyers worse bc more people will need cheaper homes.
Anonymous
05/26/2023 11:30
Subject: Re:Will student loan repayment resumption crash the housing market?
No, because people for whom this affects weren't in the housing market in large numbers to begin with.
Anonymous
05/26/2023 09:17
Subject: Will student loan repayment resumption crash the housing market?
I doubt it'll have much of an impact, tbh.
Anonymous
05/26/2023 08:18
Subject: Will student loan repayment resumption crash the housing market?
So many people about to go back to making $1500/month grad school loan payments.