Who's "they"? If you're talking about the Government, you're wrong. It's the Corporations and Wall Street. Like he said with #4, those investors are a real problem. Going forward from 2024, a family would be smart to invest in land (50-100 acres) out in the sticks, and build on it. Then, provided your local laws permit it (zoning), just build another home for each family member as they look to get their own home. You can always ask for permission to build from local councils. As long as you're not interfering with others in the area, it'll likely pass. Property tax will go up a bit with each building, however, it'll be way less than trying buy a new home. But, if those don't work, you could subdivide the property for each family member. Family compounds could work, if done right. But... how many families get along well enough to make that happen, right? 🤣
@@LordBLBand you expect us to pay for land and the price of building a new house how? The flaw with your logic is that you’d need money to do that, to buy that land, to buy the supplies to build the house(s)
Build it yourself… wait you don’t have the skill right? So you want to use others skills and think you have the right to call their work overpriced. These starter homes builders can’t build for less than 200k after materials, labor, insurances, parcel costs, permits, agent selling costs etc. Builders making 30% profit is in no way greed imo… actually a little low considering the high risk of building and selling real estate
@@LordBLB They is the government. The building restriction are the CAUSE of investors buying properties. Land lording is like other industries, without regulatory capture, profit is squeezed out. Large institutions (those with over 1K properties) own about 0.5% of single-family homes. If a lord owner plans to build their own home, they can effectively become as construction worker with a tax free paycheck. Most people who "build" their own homes, don't do any of the work. Instead, they hire someone else do the work for them. This results is housing cost much higher than buying a track home.
literally communism, now I finally understand why my grandpa was so against it. Its communism but worse because they own everything and in communism no one owns anything actually.
also, eat the bugs and don't be self reliant with your own food. If you have more than a "reasonable" amount of food or supplies, the government can confiscate them. The gov determines what is "reasonable" as well.
I literally said this on a different video, but that is what they said. There's two kinds of prisons. One were you can see the bars, and you know you're locked up. The other is where you can't see the bars, but you think you're free.
@@triplea657aaa “The company's real estate investments are diversified, not focused on acquiring individual houses. Institutional investors, including BlackRock, account for less than 3% of single-family home ownership in the U.S., debunking the myth of significant ownership. Feb 11, 2024”
And here is why the market will crash. 1. People can't afford the high price combined with the normal interest rate. If you want to find a buyer at current interest rates, the price will have to come down. The income isn't there. 2. A growing number of people are being forced out of their homes by skyrocketing property taxes, insurance, and maintenance costs, on top of their current monthly mortgage payment, so guess what - they need to find a buyer, and fast. 3. He apparently hasn't noticed that a lot of people are getting laid off. See #1 and #2.
@@wildbikerbill6530 no, they will print money, give it to the banks and corporations at low rates so they will buy everything and be the new feudal lords. It has been already happening for a long time. This is not a market.
for some folks who currently don't own, they could've bought 3 yrs ago (prior to 2021) but didn't cause they were saving up for the 20% down. Would've been better off w/ 5 percent down considering how low rates were. Followed conventional wisdom and lost out big time. Those 2.5 to 3 percent rates were a ONCE in a LIGETIME ordeal, but folks under 35 ish didn't know that. When the iron is HOT, that's your time to strike.
Then don't buy a $500,000 house! Don't fill it with New furniture (bought on credit!) Don't buy a New car to match your new upward lifestyle, (also bought on credit!)
The housing market might not crash, but people's patience and tolerance definitely will. If you can't tell which is worse, you'll find out soon. Won't be long at this rate.
So when flippers and investors hoard homes at levels never seen before then sell them to other shady investors for double toor triple, that’s they money losing its value ?
The dollar lost 10-15% of its value due to printing. That’s a portion of the inflation. Add in tariffs on Chinese imports, all aluminum and steel as well as lumber and rubber that went into effect within the past 10 years. Then take away from the availability of western supply chains the raw materials we used to get in from Russia and Venezuela. Russia was a huge supplier of lumber, aluminum, iron, rubber, silver and other materials needed to build anything including homes for the EU. Once those sanctions went into effect, where do you think the EU gets all that stuff now? US supply markets. How you do you quickly raise prices of an item? Restrict the supply of that item. Just like with oil. The US used to import 500k barrels of oil a day from Venezuela, until the sanctions were put on them. Now we barely bring in 100k barrels. Want to know why gas prices are high? We just lost 400k+ barrels of oil a day just from the US for absolutely no reason. Oh, and the EU cut off their supply from Russia, so they are tapping into our supply chains for that too. This is how global markets work and are affected by stupid foreign policies such as sanctions and tariffs.
🤔wondering who is backing these Institutional Investors? Because, if it’s the same people who are controlling percentage rate, this doesn’t seem right. What would be worse is if these are also who can take your property after you have paid it off but don’t pay taxes. Why would I strive all my life to be a property owner? Can’t take it with me if I die, can’t leave it to family. It’s like watching a hamster 🐹 on a wheel.
@@aries2481 Everyone makes the mistake of thinking that if one country is losing and being sold out, that another country must be winning. That's false, all countries are losing and we've all been sold out by a small group of individuals that run everything from the top down. The scariest part? The majority of these people pay fortunes to be as anonymous as existentially possible. Kept from richest people's lists, most influential lists, most powerful lists, etc.
@@asparrow9876 all but three countries on Earth have an IMF Bank as their Central Bank. Once the US dollar goes the entire world goes with it. Brics won't help anyone
It’s absolutely going to crash. Banks are sitting on unrealized losses. Housing and banking will go down together. It will be worse then 2008 and worse than this country has ever seen.
How many times can the government save the banks from bankruptcy? That's what I'm really starting to wonder. I've seen it happen 3 times now, I think. As soon as that finally crashes, it's going to be a marvelous cascade. I need to buy some popcorn for that day, so I can watch the scene unfold in style.
When houses start getting foreclosed and it begins crashing, more investors and corporations will buy them. Saves the banks, keeps us renting, economy will be "fine."
@@timetowakeup6302 Frankly, after the economic strife I'm suffering because of other's choices and votes I'll take whatever I want at the expense of others. I didn't support the covid BS, but those others? They made me suffer. I didn't want biden and everyone foresaw the effects of this administration, but I"m suffering it. So if people can support all of that at my expense, I'll go ahead do what I need at other's expense.
You forget that most people are living paycheck to paycheck. That includes those that purchased a home with low interest rates and those that overpaid. Lose your job you lose your home. We fired a whole department in our company. All those people purchased homes recently, now they’re struggling.
I think you get it. So here's the thing, the RE market is so full of distortions it's a house of cards. and it's the "investors" that's the catalyst this time. A house is a depreciating asset. It needs TONS of work to maintain, roofs don't last forever and neither does anything else in the home. SOOOOO, all this "investor" nonsense works in ever higher home prices which can not go on forever. Reality will return and then those 1000's of "investors" that are going to be stuck with millions of homes that are not a home but an "investment" and they will start to unload the RE which will drive down prices. Is an "investor" going to hold onto that home that needs a new everything while prices are falling? If I owned multiple homes right now I'd be GTFO, It's not a panic if you are the first one out the door.
@@Synoopy2 The recession hasn't started yet but give it time. There's that and my comments was deleted yet again. RU-vid has gotten PATHETIC and deletes anything even slightly controversial. I posted an analysis about the RE market and I must have been over the target.
@@Synoopy2Better is subjective I suppose. Right now mid-level to higher education positions are absolutely bleeding for people because well, they're not paying enough to support families or even single individuals in this economy. The middle class is shrinking rapidly
Job market is much better now compared to 2008. It was great for Gen X to buy a home at a discount after 2008. Sucked for Millennials that graduated without a job and watched a stagnant salary for 15+ years.
I think it should be illegal for large companies to buy up neighborhoods worth of houses and selling it back for rent at some point put a regulation on it so shit like this doesn’t happen
4 and 5 are probably going to be what crashes it eventually. When the institutional investors buy everything up but can't turn a profit, what happens? And when no one can afford a house anymore, what happens?
Big compagnies buy it all and rent it all. Make a business out of it. Kinda like american healthcare where the company you work for provides it as a "perk". Imagine your boss renting you a flat as part of your salary.
@@lauraschlieselhuber8487 Yes, but if the rent is so high that no one can afford to move into it, the money just isn't there for them to pay for it. Therefore, they have to resell it. If investors can't make money off of it, then they will sell it and get out from under the tax burden.
@lauraschlieselhuber8487 that's what they do in the military. Military is lotted BAH as a subsidizing of housing. Imagine instead of being given 80k/yr, you're given 40k/yr because your rent and utilities were just removed due to the company providing you job housing. It makes sense!! You will own nothing and you will like it.
1. None of those laws were changed and people with bad credit are still buying houses 2. Only 1 percent of homeowners defaulted during the 2008 to 2010 great depression. 3. There's a lot of buyers that own mortgages much higher than 4 percent. 4. institutional investments are running out of money to service their customers as their customers are withdrawing their accounts. 5. Loss of employment was the number 1 cause for foreclosures in 2009 to 2010. The number 2 cause was owners walking away from their homes costing less than their mortgages. This crash, with citizens having high debt and inflation will be much worse.
@@Tinfoil_Hardhat the overall standard of living in the user was actually pretty cheap relative to their income throughout most of its existence. This includes housing, food, education, and so on.
The Soviets GAVE people apartments, then gave them BIGGER apartments when those people had families, there was near 0 homeless, near 0 unemployed, how is this anything close to that?
I feel that its going to be less a crash and more the companies that are buying up the houses to try and rent them at a premium will be forced to lower prices more and more since they are sitting on the property tax charges with no one able to afford the renting prices to pay it for them.
Property tax charges are like $5000 / year. If a company can afford a $500,000 house they can probably afford a $550,000 house, right? So that's 10 years of taxes already prepaid.
The housing market didn’t crash in 2008 either. The government helped the banks artificially maintain the obscene over-valuation of real estate. Go back and look.
Property taxes aren't going up much at all. But I live in California since there's a maximum amount it can go up each year. Due to prop 13 property taxes have kept my property taxes low since I had my house built back in 2005.
@@vietnamvet4533 Run up the value of homes by reducing the inventory available to individuals. Then with a large number of homes they can impact the rents in an area by setting rates high.
@@TheDustyShed Not really. It only cost a few grand to legally set up a Limited Liability Company (LLC). People would transfer their additional houses to the LLC. The company would own the house and they would not. So it would bypass your idea for taxes legally. Unfortunately, companies do need to own houses. Say you have a rental property in your name, if someone trips and gets hurt on the property they could sue you for everything you have. Transfering the ownership or a rental property to a company is a way to protect your personal assets if something bad happens.
It's hilarious any one thinks they can comfortably afford any payment for 30 years. No matter how good you are at your job how dedicated you are they will let you go without a second thought if they feel it benefits them.
pardon my lack of knowledge of the subject. But with prices going up higher than the amount of money young people are making, At some point, the prices would drop/crash right. I mean if no one(not enough people) can afford these properties theres just going to be houses no one owns.
Large companies will buy these houses and then rent them out. I get flyers in the mail every week with some company wanting to buy my house, my house is not even for sale.
Corporations have the capital to buy literally everything now. If nothing serious changes in twenty years your employer will be providing housing for you similar to insurance.
Correct except they'll just be bought by corporations. But that being said the rent market is headed towards a major crash since it's getting to where even we'll off people are struggling with the rent. Shits gonna go off the rails and things will either get drastically worse or drastically better afterwards only time will tell
You are correct nephilim. Homes are being built faster than new families are being created. It's just that currently, there is a shortage of homes. This shortage was partially caused by effects of the 2008 housing crisis that greatly slowed down home construction. Also, lots of people lived with parents during covid, which also lowered demand for new homes. When covid ended, several years worth of people wanted to buy homes all at once with the really low covid interest rates, createing a massive shortage that greatly increased prices as people competed for the limited number of homes. As the shortage lessens, the price increases will slow down and there may even be some price decreases.
The optimism in these comments is cute. You guys need to look up "inventory destruction" and "ghost housing." These companies will sooner destroy housing stock to prop up existing value than let plebs buy it and devalue their assets.
I bought at bottom of interest rates and my mortgage is now under 100k. For those that dont have a house yet, this is the time to start saving. Social media has everyone impulsive and thinkign everything is now now now. Buying a house isn't somethign you just jump into, it takes planning. You can't afford these houses right now, but if/when rates come down? You will. If you start saving for it today, you'll be able to lock in a super low monthly payment instead of renting for a lot more with annual increases. Since rates are high but I do want to upgrade to a bigger and nicer house, I'm saving now for when rates do come down a bit. Having bought the first house, I'm saving like $1200-1800/month over waht I would be renting at. I could spend the rest of my life in this house with only $650/month to worry about, or I could save and prepare to get something much better for a similar price. Save now.
If rates drop, prices will climb higher because money is cheaper to borrow and the pool of buyers will increase. Supply will continue to remain low because new construction isn't happening fast enough. Existing homeowners may consider selling if the rates drop, but not all of them will, and certainly not enough to fill demand. Unless you save a lot of money, home ownership will remain out of reach for many.
@@jamesgizasson I just graduated from college dude. I managed to claw my way through without taking on any debt because I worked for 20 hours per week, the legal max in my state, for $11 an hour. I did internships over the summer for extra money and experience. I got scholarships for my excellent academic performance, for which I worked my butt off. My yearly income was about $20k. It's hard, yeah, but it's possible.
My mortgage is cheaper than an apartment. However, my mortgage has gone up 300 dollars in 5 years because of extortion, I mean, taxes. Also, a tip. If you buy with someone, make sure you either get it in your name only or you have a damn good lawyer and don't buy for that other person. Buy what you would live in Han solo style.
@@Grritz Well then it's a great thing that you can look at your local city's budget and see exactly where the money is going with a google search, isn't it
@@ElearningDigest Yeah they did. I was in the mortgage and finance industry then. BTW the 08 crash was intentional. We were instructed to give anyone a mortgage regardless if they fit the criteria or not. The same administration pushing that then sold mortgages to foreign investors in bundles. No checks and balances. Then boom housing crash.
I was warned not to buy last year when interest rates rose to 6%, and while mortgage is half my current income, I'm still paying less than most renters.
right, and get a fixed rate and you don’t need to worry about your mortgage being increased unless property taxes go up. smarter to buy. we bought a condo 2019, flipped it and made 100k+ profit. bought a house with that for basically land value since it hasn’t been touched in 40 years. gonna do it all over again.
@mmmonkay that's great that you was able to buy a house and flip it but then it was a good time to buy. If you buy today you cant flip it for a profit because you would be buying at the top of the market and it's only downhill from here as houses are now 90% overpriced. When the bubble pops its going to be epic. Anyone buying today will be left holding the hottest potato.
@@Cole478gametimeif it’s less than rent, might still be worth it. Failing to pay either will fuck your credit, so might as well take the gamble on the house and pay less anyways…
What would happen if everyone just staged a sit in. Like we all instead of buying or renting, we just lived at a friends or family members house and paid them instead of renters and waited. Would it force crashes to burn if everyone came together and boycotted?
If people stopped renting.. what happens then 🤔 Just wondering if the idiots hiking prices would be able to afford empty places.. (Am about to move bc rent apparently just doubled in my place.. mental..)
@@asparrow9876 that's the last thing coprorations and the government want but they definitely want to tow that line as close as they're able to get away with
So then why is my LinkedIn feed full of real people announcing they've been laid off or still struggling in the job hunt ("unemployment numbers" only count people collecting unemployment, it's not a valid reflection of the actual job market).
All of that is quite true. People who have houses - paid off or bought low a decade or more ago - are HANGING onto them. And then you have point 4 which should be flat out 100% completely outlawed. Large quantity buyers should not be allowed to own single residency homes - period. Anything below 10 units should be private (individual/small business) purchase **ONLY**.
1) ARM are on the rise. 2) When banks stop or slow lending, buyers drop off. No buyers, price drops despite many not selling. 3) Unemployment increases to a point where foreclosures increase which is already starting. 4) People are being priced out of their home due to INSURANCE and taxes. Tax assessments are going up because the value of their homes at all time highs and due to this and other costs still rising, people will sell. Florida and California are the canaries in the coal mine. Dallas Texas is starting up too. 5) Banks are in serious trouble due to the bond market and commercial mortgage backed securities. Commercial is not residential, but if it makes it so that the banks tighten credit to individuals and businesses, not only no one will be able to get a loan to buy a house (refusing buyers even more), many businesses will go out of business due to lack of access to debt. 6) credit card debt at all time highs and continues to increase. People are taking NEW MORTGAGES on their paid homes (as well as second mortgages) to access equity to pay down debt.
absolutely. maybe even get yourself an rev/trailed to live out of during building. make that house what you want out of it. then you’ll either have tangible equity to sell later, or keep something you’ll love forever.
If you live alone off of only 50k, I doubt you have the funds to build your own house. Maybe if you live in a low cost of living area, but if you do, it would probably be better to just rent anyways rn. Wait for interest rates to go down. When doing a financial analysis of buying vs renting, it usually isn't until after 20 or so years of living in the same home that buying is the better option.
@@vanillagorilla6990 no. You just make 1/2 the payment every 2 weeks. So instead of paying down the principal 1ce a month it does it twice a month. The effect over time will shave off 5-7 years off your mortgage. Also try and add a hundred dollars or so the each payment and it will go even faster. Your older self will thank you. Just google it and you’ll find a calculator. Your mortgage company should also offer a calculator to estimate this.
I got really lucky. Bought in 2020 with a 2.5% VA loan. If I tried to buy my house now, not even a full 4 years later, I couldn't afford my house. This is insane and unsustainable.
Same bud, the year and the interest rate and I also couldn't afford my own house today. Thank God I don't have to pay property taxes. Literally the only reasons my family is making it thru this inflationary hell. My homeowners insurance sure shot up tho! We will never move, we are very happy with our home and I hope it stays that way because I'm pretty sure we are gonna have to die here.
I bought in 2018 with the VA loan, refinanced in 2021 to 2.25% with an IRRRL. 5 years of active duty in the Marine Corps and 10 years of working like a slave in the civilian world and I barely have anything to show for it. 6 years of owning a house after lucking out and buying at a good time and I have a six figure net worth in equity. What a world
@@hermanwooster8944 Those are real jobs that pay real money you can use to buy things. The world needs janitors and burger flippers to function. If you don't have the qualification to get a high paying job that requires a difficult degree that is a skill issue. Engineering degrees pay ~70k per year fresh out of college. Lots of people at my school switched out of engineering cause they wanted to be irresponsible and party all the time. They're the ones who are hurting now, and it is a skill issue.
@idamcneill8005 15 an hr won't buy a house.... to buy a house you need around 35 an hour. So you're paying people minimum wage. And can't find people. SHOCKING
Thanks for keeping it real. So many scammers online trying to sell me their course for an imminent housing crash that has not nor will happen. The crash will and is happening in commercial real estate, which will cause a banking bust the likes of which has never been seen before.
It’s going to crash. Banks have unrealized losses they’re sitting on in real estate. Inflation is killing everything. The dollar is destroying home values and when it flips people will be upside down. Banking and housing are going to crash. Ignore warnings all you want but remember this and realize you should’ve listened.
You are right, it's not 2008. The ARM buyers are looking at refinancing or coming to maturity with a 4-5% increase in their interest rate rather than just 1-2% lol. 😅
This is so true… I have a house and my grocery bill is higher than my mortgage…. I have a son 21 living with me working and going to college… and he barely makes enough for his personal expenses!
Institutional investors and foreign institutional investors ARE the problem. The reason people who live and work in *insert location* cannot afford houses in said location with salaries earned in that location is because they are having to compete with an influx of capital that is completely disproportionate to the earnings of average people in said location. This is happening everywhere and it is completely destroying people's lives.
We can fix it with smaller builders building homes and not selling them to mega investors. I'm working on getting my license and selling assets to try this model. It takes time to get everything set up.
@@ElearningDigest nope not me. I bought a house in 2010 and 2012 the lowest point in the market. Housing cycles take 14-20 years do the math. The top was 2022-ish.
@@Grant_Arnettthe government isn't supposed to care about you. The government is supposed to be limited in the only thing it is supposed to do is uphold your rights instead of taking them. Problem is you don't know your own rights
If your #1 is, "it's not 2008," no shyte Sherlock. Welcome to this thing we call time. Oh, don't take investing advice from RU-vid, unless you are in the market for a bridge, then please reply...
People making a combined $80k a year are driving $70k trucks, carrying $10k a montj on CC, not saving for retirement and getting down payment assistance to get into $500k+ homes. We are absolutely lending to unqualified people and the market will absolutely correct.
I’m a Mortgage underwriter with 20 years in banking. There will NOT be a crash any time soon. I promise you this!!! The variables just aren’t there to create a surplus of houses at one time.
Number 4 is a massive, massive, understated problem and unfortunately USA's reluctance to deal with this is what's remaining as a block for newcomers to buy a home.
He is right. I got my house at 3.75% fixed interest in 2016 and pay only $1,130 a month for a 4bd 2 ba home with almost 1 acre of land. I’m just glad I got my home when I did.
Won't crash, but will go stagnant. Also give it about 15 years. All these new builds are complete trash....will be intersting to see how these owners handle repairs
Agree. I was in my 30s when the last down turn,2006-10, happened. It didn't really " crash." At least in SoCal, it was Asian (CCP) $$$$$$ in cash that kept most middle income homes out of reach. We were out bid by thousands in cash many times.
Sounds about right. Bought 2016. 300k property. Refinanced in 2020. 232k loan 2.375%. But i work in architecture. Costs for the buildings are still hilariously high. This isn't including the cost of land, permitting fees, sales taxes, utilities, developer profit, financing costs and interest expense, etc. The last project i worked on was nearly 300k per apartment before all of that. Water alone is about 40k per dwelling. And so on.
Can you believe that people used to build their own house; from scratch. They even got on boats and sailed across an ocean with nothing to their name, just for the opportunity
Bought a small house in the country with my wife in April 2016 at 3.75%. Busted ass making double payments. Paid it off Aug of 2023. Some say we should've invested the money. Given the current climate, I couldn't be happier with our choices. Drive old cars, live nelow your means. Stay out of debt if at all possible, and if you do take on debt, pay it off like your life depends on it. Tough times ahead. Good luck and God bless.
Another finance influence? Take a breath Shapiro cause i never did that never will. Ive lived in my luxury stretch van for years. Go out to eat all year because no rent no property tax no mortgage and I can sleep anywhere I want. I eat at hotels so they let me park in their parking lots just cause I order their food so often. Done with your market of trying to assign me an address. Don't need one and so many I've met don't either. Done since birth my parents have had zero trust with landlord break ins. HOA crimes. the Laundering involved should I read the countless cases. I'm rich and happy and I touch my own vehicle. No mechanics because I do my fluid changes and up keeps with its system. I'm home free -i don't worry about tomorrow ever! I took a cruise two years ago. I'm ready to pay for another. You ready for a cruise and extra extended vacation?
42% of home owners not having a morgage means that the only people owning homes are either the very rich and can pay upfront, or older homeowners, who have had the time to pay off their mortgage already. Young people aren't buying homes, and thats bad.
Number 4 is the primary reason "you will own nothing and be happy" will come true. The happy part is more so just because people will have forgotten that ownership is a thing.
You're forgetting ONE HUGE problem. RENTERS! You see these homes that all the corporations bought up are going to get rented at a high price. that will lead to people trashing the houses and lowering your property value. Why? So the corporations can take your house for cheap then rent it out! Trust me we're either going to see communities ban corporate ownership, or the renters will trash the neighborhood and drop home values.
I'm in the 62% with a low interest rate. I bought my house in 2007 but refinanced in 2021. My monthly payment is less than $450 but that doesn't include taxes or insurance. I pay those separately.
Interest rates will rise again. They’ll push back amortizations to keep monthly payments on mortgages “affordable”. You’ll be paying nothing but interest, no equity. Renting your house from the bank. 75 years later, you’ll still owe them the price of the home. At that time it’ll be like 5x what it is now. I hate it here.
The people today were unqualified. The only reason they got loans was because the interest rates were 0. They generally failed the stress test but banks ignored it and issued the loan anyway.
Until a year ago, I was in mortgage lending for 27 years and worked in every capacity you can think of (sales, processing, underwriting). The algorithm sends me tons of "real estate advice" videos and I can say that yours is the ONLY one that is spot on
With the economy we are always fighting the last battle. Those institutional investors have tied up billions of dollars in a market in which no one can afford to pay the rent prices and they just sitting there waiting for a crash that is never going to happen which means eventually they will dump those properties on the market to get their cash back. When they do, that is when market is going to crash. These investors are worldwide and tend to fluctuate between investing in China and the U.S. residential market. If the China's market recovers, which it will because China has gone after the developers directly, then all that money will flow to China. My guess is this will happen right about the same time the U.S. dollar fully crashes as more and more countries join BRICs, creating a perfect storm.
I bought a second house 4 years ago with a 2.15% APR and did a REFI on my first house for 2.25%. Im holding onto these forever and will probably have to bequeath them to my two daughters since they'll be $1M homes in 20 years
So uh why are cars going for 25% interest rate or more. Houses are getting bought out and people can't get houses evan though mortgage is usually the same or cheaper than rent 😅
In the vast majority of places, rent is cheaper than buying a home rn. Everything is at a high interest rate because the money supply was reduced to fight inflation.
My husband and I don't plan on moving anytime soon. Less than a 4% interest rate on our mortgage and it's about 25% paid off at this time. Our mortgage and taxes are less than a mediocre one bedroom apartment in the area. A nice one bedroom apartment in our area is about double our mortgage and taxes.