Quote:
Originally Posted by ASAP
We should have had higher rates since approximately 2016 or so when the economy was in full steam this would have prevented a ton of the speculation we saw... the fed was pressured into keeping rates low as the moment they started raising them, the markets immediately felt downward pressure... and of course no matter which admin is in the White House, their no1 priority is unemployment which they couldn't see tick up.
Then Covid came... and we had rates lowered further and later doused with a large supply of free money for a ton of corporations and individuals further skyrocketing inflation (in a supply constrained environment lol)... basically the past 5 years of economic policy has been fail after fail.
It would be STUPID for anyone in this thread to compare to anything historically because we have NEVER been in a situation like we are in now where there is a ton of money in the market, prices are at an all time high, inflation is still high and rates are at their highest for 20 years... this makes things very unaffordable for the middle class and even worse for those below that. So far the rising rates have only made things more expensive not less because little price correction has been seen on anything...
...oh and we will ABSOLUTELY go back to lower rates in due time... this country lives and breathes on cheap credit and endless quantitative easing... watch the stock market carefully... the moment it takes a 15% nose dive or more... be ready to refinance your home 
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I would add in the other factor which are institutional investors buying up properties as it made sense for them to invest there with how depressed the stock market has been for a while. Unless there is legislation or some sort of community ban on non individual purchasers buying property, I expect to see the supply issue get worse if/when the stock market tanks.