They are though.
Take the median housing price of Q2 2024 which is 412,300. The average 30yr fixed conventional as of today is 6.34, now let's say you put down 5% on that house. At today's current rate, the P&I is ~2,435 a month.
Drop that rate down to 4% and the P&I will be ~1,870. That's $565 a month breh. That amount keeps many FTHBs out of the market as many can not swing that much a month. Now mind you we just hit 6.34 as rates have been hovering around 7 since mid-2023.
They have 100% financing options on ARM’s toofirst time buyers can get like a 5% mortgage through the fha but you're dumb ass doesn't know anything about the world around you
Thank you for proving my point stable genius #2.look at this idiot, bragging that mortgage rates "fell" to 6.4 when they were 3 before covid
i'm not the one trying to create a reality. have some fukking shame
No one wants decreases because that means unemploymen and negative gdp growthI don't see why people keep pushing that stat. Home prices have trended up since 2000 sans the calamity of 2008. I do remember some of my neighbors getting some insane offers during the pandemic.
Interest rate cuts will make home prices increase even more.That's because interest rate is 7%.
When adjusted for a lower rate it's under 2K. I belive the interest rate will be cut after election. It has to be....too political now for the fed to cut rate
and then they doubled, because we printed 3 two trillion dollar covid bills without paying for a dime of themTriple A mortgage rates before covid were 3.65-3.75%.
i know how mad Blue MAGA gets about bringing up objective facts, i'm not necessarily blaming biden or kamala for inheriting an inflation time bomb, but the fact is that they did. it's a tough problem to be incumbent for
i don't know or care what the spectator is. objective facts are objective factsthe spectator? why do you keep posting bad faith journalism? you look sus constantly posting tweets from far right sources.
I'm not sure what you're trying to say. Houses, in general, will always appreciate unless there's a recession. I just pointed out that FTHBs are priced out of the market due to interest rates more than current prices.it doesn’t work like this, A lower rate will lead to an Appreciation in home prices.
Theres still a lot of house at that price they’re just not in areas that FTHB want to live in.
focusing on the rate is not realistic
spectator isn’t real journalism; it’s an incredibly slanted, pro-tory rag.i don't know or care what the spectator is. objective facts are objective facts
feel free to find me a better graphic on twitter, and i'll replace that tweet, so as not to offend your tender sensibilities. bonus points if you find me a left wing source addressing the difference in monthly mortgage payments
well luckily i can just run the numbers on my own fukking mortgage from 2020, compared to what it would cost to buy today, to verify that what they're saying is truespectator isn’t real journalism; it’s an incredibly slanted, pro-tory rag.
it’s the type of actual fake news that trump conspicuously ignores while disingenuously harping on about the mainstream media’s bias.
nice grammar, dumbass. and only a shameless, dikkeating shill would try to pretend that the cost of homeownership hasnt skyrocketed since 2020
Blue MAGA for the win