I drink your milkshake! a metaphor for capitalism
- Thread starter rickyb
- Start date
Burn them for heat?
1989
Well-Known Member
Over the past 45 years, interest rates on the 30-year fixed-rate mortgage have ranged from as high as 18.63% in 1981 to as low as 3.31% in 2012. Mortgage rates today remain at historical lows, with over 60% of mortgage holders paying rates between 3.00% and 4.90% as of 2015. We used interest rate data from Freddie Mac's Primary Mortgage Market Survey (PMMS) to examine historical mortgage rates and the factors that have impacted their downward trend.
https://www.valuepenguin.com/mortgages/historical-mortgage-rates#nogo
DriveInDriveOut
Inordinately Right
And?
What I posted is true.
They are still cheap right now by historical standards.
DriveInDriveOut
Inordinately Right
1989
Well-Known Member
Hardly a “classic walking to school in 20 feet of snowuphill both ways.”
Here’s something that might blow your mind. People with less than perfect credit paid even more.
1989
Well-Known Member
Leverage up???
No
Just don't let the interest rate is scare you from buying a house, if you can afford it.
DriveInDriveOut
Inordinately Right
WDFD.
You're off topic from his point.
The cost of housing has skyrocketed.
You act like you had it tough because rates were high but the truth is you benefited from it because it kept prices low. When rates dropped your investment ballooned.
Any benefit a young person would have because of lower rates is wiped out because the prices are so high.
oldngray
nowhere special
You can always refinance when rates drop.
Rate's are pretty low now. They may never be this low again in our lifetime
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DriveInDriveOut
Inordinately Right
1989
Well-Known Member
Prices are always high when you are buying. Prices won’t get sky high if people didn’t pay them. I’m a buyer as price decline.
DriveInDriveOut
Inordinately Right
Guess it's over your head.
Carry on.
adam mckays movie the big short is about how a few people see things economically most people dont. which is really what americas history from 1940s red scare to just recently has been, when it became taboo to criticize a flawed system like capitalism.
wondering what the big meaning behind dick cheney movie was. i feel like i have ptsd from it. considering hes a war pig that was probably the intent. i feel like it really connects the star wars empire which lucas based on america, to the modern day one.
wondering what the big meaning behind dick cheney movie was. i feel like i have ptsd from it. considering hes a war pig that was probably the intent. i feel like it really connects the star wars empire which lucas based on america, to the modern day one.
1989
Well-Known Member
You can explain if you ever figure it out.
DriveInDriveOut
Inordinately Right
Ok, let me help you get caught up.
What you missed, is that hardly anyone is buying.... What they're all actually doing is borrowing.
When interest rates to borrow drop, the demand increases, which increases housing prices.
You see, you bought when interest rates were high and demand was low. When interest rates dropped, demand increased, prices rose, and you benefited.
Now you're pretending the high rates that helped you buy low were bad for you. And at the same time you're pretending the low rates that jacked up housing prices for young people are a benefit to them and not you....
So basically you're a typical narcissistic baby boomer separated from reality.
Carry on.
1989
Well-Known Member
You don’t buy/borrow on many properties, do you? Cash buyers has come down from about 27.7% last year to about 27% this year. I would hardly call that nobody. It has taken nearly 10 years of falling rates to get where we are. Low inventory has been also been a large factor the last couple years.
My residence is my lifestyle. I’m a buyer/borrower in 2019. Because it will appreciate in 20 years weather interest rates are 3% or 13%. Do you have a property for sale? I will look it over, and if it’s too much, I’ll look elsewhere.
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