Bronze Supporter
- Messages
- 8,293
- Reactions
- 18,110
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
A ten year old can see where real estate is going.
Houses won't sell at 4% or less mortgage interest rates. What are home prices going to be like when interest rates at back at 15%+? The Fed is just temporarily keeping things propped up with massive money printing (which MUST result in inflation) and artificially low interest rates.
I am selling a condo in Lake Oswego right now and everyone is hoping up and down telling me don't do it, things will get better. Well, no they won't. I'll take what I can get now. I will also cash out my IRA and cover the funds to physical silver. Whatever the government and the banks tell you to do, do the opposite.
Friends have said that a good strategy for when super-inflation/hyperinflation hits it would be wise to be in a FIXED mortgage. (Variable would be suicide) Some of that make sense as long as it is realized that government parasites will be jacking up property taxes to keep pace with hyperinflation as paper burns. You MUST also have a form of personal property, gold/silver, etc that will keep place with the inflation. Paper will get your home taken away.
Plus I can't believe the banksters, as cunning as they are, will allow low-interest home buyers to skirt away in that environment and essential keep their homes for 'free.' Perhaps everyone is deemed a tenant, which they really are anyway. Who knows. Interesting times ahead. Extremely bad times for those with paper and no bullets.
It was the banks fault that the bank made a bad loan and is now holding a note that is backed by an asset that does not cover that note.While I realize that home prices have lost a decade's or more worth of gains, I still have to say tha some (not all) of the people who are underwater contributed to their own misfortune.
Our home went from $275K to $510K back to $285K.
During that peak some of our neighbors ran out and re-financed, rolling tons of CC debt, RVs, vacations and other consumer "toys" debt into the new loan. Some re-fi'd multiple times rolling more debt in each time. Now their sitting with a $400K loan on a $285K home. . .
So was it the banks fault?
Or was it a lack of self control that put them under?
Yeah and it ain't gonna gonna get better neither. <broken link removed>