Interest Rates Cripple U.S. Economy, Signaling Recession Ahead
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- Опубліковано 9 чер 2024
- FED keeps interest rates higher for longer as the U.S. economy continues to slow. Expect downward pressure on home prices as we head into the spring market.
#useconomy #usrecession #housingmarket
Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor.
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I, a physician, was laid off and replaced with a nurse practitioner, in August; My brother, a Navy vet and IT engineer was laid off from a *Major* RE 🚀 mortgage company in October; My husband, a 20-yr Navy vet, was laid off from his Maritime (skilled blue collar) job on Tuesday.
The Recession is already here, folks.
Thanks for sharing 🙏
I concur, RN here, the lay offs are just getting started. I work in Telephone Triage, call volume is down the last 3 months. The cost of everything is a skyrocketing. People are finally running up against credit limit, thus less disposable income. I just had my hair done with a new hairdresser and she told me the bleach that normally lasts her for 3-4 clients that used to be $15 is now $65 and that’s the increase over 1 year.
Wow
Just wait until you see the real estate and tech bubbles all ready to pop.
Everyone who is poor is going to be homeless.
Everyone who was already doing alright (tech, real estate) will be homeless.
Everyone who is doing well, will do better than any generation ever. They will buy up everything for a pittance until the riots start
@@lisalove8526 Inflation (increased prices for everything) is killing the middle class which is "the backbone of the economy.'
Real estate not only suffers due to high prices but the increasing property taxes and homeowners insurance is the final blow to affordability.
Imagine buying a house from the 70s at these prices?! People are doing it everyday. Imagine what building materials and contractors cost in these times….. it’s almost as if the billionaires who bought up builder’s stock knew this would be the he case. At any rate, it’s happening whether planned or not. Greed is rampant.
Also the true crisis.
Associated Costs;
Gas * Power Bill * Food * Insurance * Revolving Credit
Is the silent killer to the middle class 🤔 👀
Small houses(1 bed 1 bath) in my area are 500k. The worst parts of town are 350-400k. I make more than a lot of people, and don't have kids. I have an old paid off truck. No student loans. I don't eat out, and am a vegetarian. Lots of cheap bulk food. I am antisocial and don't go out except to hike/camp. I'm fairly minimalist. I still need to have a roommate. It's nearly 2k a month for a mediocre small apartment, not including utilities. I'm in the west. Not in CA or the east coast. This is a joke.
Yeah. We make hundreds of k, zero debt, a lot of savings, and even in our case we’re renting. Technically could buy, but it makes no sense. Why would i make myself poor when I can rent for half the mortgage payment and keep my down payment in the stock market or high yield savings accounts?
Imo, the housing market is a chicken with its head cut off. Still running around thinking its alive, but it’s actually already crashed. Once it doesn’t make sense for people in my situation, who’s left?
@@Katadori09
Bought home in Florida in 1997 for cash - and 24 years later we are still here in this same great house.
Wife & I would like to sell, relocate to upstate SC or western TN to be closer to friends & family. However, housing prices in those areas are at fantasy all time highs... at least 2x what they should be. So, we'll just wait and hunker down for the time being. Having a roof over our head, food on the table, and living with no debt is a very real true blessing... while everything else in the "Good Old USA" seems to be turning to crap.
U sound like my ideal woman actually.
@@Katadori09
My biggest fear is the stock market going down 50% or more while inflation and taxes remain high. People (especially fixed income) can go poor quickly that way.
This is literally my life and i live in california and its becoming ridiculous. It’s almost becoming expensive just to go for a hike now honestly
All of this is so anxiety inducing. All jpow has to do is turn on the money printer again and we are all screwed. Those that hold these overpriced assets are putting pressure on jpow to keep the party going and lower rates again. We should not even be thinking of lowering rates any time soon and it’s terrifying that they may do it anyways to “save” the economy and encourage people to take on even more debt. Somehow this needs to implode so we learn to never do it again.
Yes for sure 😯 Hard pill to swallow 🙏✌️💯
Amc2moon
When debt is 105% of our GDP WE ARE SCREWED
If his money printer go brrrrrt again. We wouldn't learn a lesson, but we wouldn't be able to do it again after. Because US dollar and economy would completely implode and go the way of USSR 1991 style. We will see states going their own ways like Texas, FL and CA
Those who hold the authority are getting all the benefit , why wouldn't they keep at ?
I am truly blessed. Everything I own is paid for. The last time I bought anything on credit was 2003. Ditched the credit cards around 2005. Pay cash or don't buy it. Have all the money I need, with plenty in savings. Started prepping in 2019, because I could see what was coming. Have faith in God
Faith in god, all others pay cash. Boy Scout Motto: Be Prepared
Hope you buying gold and silver as part of your prepping
Food, Housing, energy and transportation are the key factors that aren't included.
I love how the job market reports "jobs", not employed Americans. At my company, we have more foreign external contractors than US-based employees. It's like a 3-1 ratio. Those are US jobs outsourced to overseas contractors. We're screwed by both our Govt. and employers.
Same in construction. The engineering and drafting are being outsourced to poland and India! One of my rebar supplier fired their entire engineering team! This is just insane
They always revise downward the job numbers after biden crows about them
not true, the jobs reports are data of "employed AMERICANS".
@@sunso1991 and AI is going to make insane today seem like holy-water...all the best,
I'm a single mom with 2 kids middle income. I'm stuck with high rent and not able to apply for any government help. Been working since 1996 paying taxes and never get help. But I know people that decided they don't want to work don't pay taxes and get all the help from government 🤷♀️
Girl! I hear you! Been in the same boat for a long time. So frustrating to be stuck right on the edge
Same. We’re stuck in a 2 bedroom apartment. Can’t move because the rent prices have gone up so high I can’t afford to move anywhere else so we’re stuck. Praying I can hold on to my job and ride the wave.
catching a falling knife it is quite painful. when housing prices start falling there'll be no bottom this time.
GREAT NEWS FOR SAVERS... AND ALL FIRST TIME HOMEBUYERS YAAAY
IN SOUTH FLORIDA, HOUSES NOW HAVE DECREASED PRICE OVER 100 K, , OVERPRICED ANYWAY
Prices have declined for non essentials because essentials are up 50 percent . So no money left . Next essentials go down in a deflationary bust when people can’t buy food on buy now and pay later .
Layoffs WERE THE PLAN. It's NOT falling apart because of layoffs! Worry about the national debt.
YES, THE MORE PEOPLE GET PAID, THE HIGHER THE INFLATION, SIMPLE
Made an offer on a house in Long Island NY yesterday. House price $539; my offer was $15k over asking price. Someone gave a better offer. Mind you, this house needed a total update. Everything was outdated from the 70s. I make good money, and I can't afford a shit house in Long Island.
This is not meant as an insult but apparently you are not making "good" enough money to keep up with these prices. Most of us are in the same boat so don't feel alone. This economy is going to have to allow "most" of us to be able to own a home and have a reasonably good life or kiss it goodbye.
Houses are most unaffordable in last 80 years now. Many People who bought in last few years has remorse already. Bubble keep pumped by easier mortgages. Better wait for prices correction.
@100perdido well, let me rephrase what I said. I did make good money before covid. Houses went up by a lot, and my salary barely went up. I'd have no problem paying mortgage before covid. Now, the dream of owning a house is slipping away.
Company bot buying houses. You will own nothing and be happy. Corporate is buying the houses.
Consider yourself lucky. You dodge a bullet.
Great show!
Got to love it when he says why would we exclude things we dun really need like food and utilities. That’s what I have been saying for years. We are counting inflation on things we don’t really need. Really? No wonder we call them removed from reality. Sorry food n energy are most pressing concerns we can’t really survive without them.
The current high rate will break the banks into bits and pieces ! Get our hard earned money out from the banks now ! 😥😥😥😥😥😥
Doesn't matter if everyone did this they'll just print more money which will result making your dollar less valuable, this isn't our problem this is A government problem we need less government.
Worries about a potential recession and banking system instability have weakened my investment confidence. I aim to reallocate my $2 million portfolio. What's the most effective strategy to hedge my portfolio and generate profits?
Considering diversification is excellent. Now might be a good time to consult a financial advis0r for expert advice and seize opportunities in this volatile market.
Having an investment advis0r is the best way to go about the stock market right now, especially for newbies near retirees, I've been in touch with a coach since 2022 and I made over 75% increase in my portfolio
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
’Vivian Louise Dehoff’ is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Signaling Depression.
This. I called “Depression” by the end of 2020. It takes years for the wheels to turn. It’s here.
Great podcast! Thank you for sharing these hard facts and promoting these needed conversations.
I own a trucking company and we are struggling so much with freight rates, high diesel cost, and high insurance. The transportation industry is getting dragged to the lowest of the food chain. Trucking has never been so bad.
I am looking at homes in my area. 2/3bed 1 1/2-2bath houses with little to no acreage are sitting around 400k or more. Im 23 with a wife and a daughter. Im looking for a starter home, and i can't afford one. This isn't 2008. It's worse.
Same here crazy outdated houses 400+ so depressing
Same in the northeast.
Thank you... 🙋
You are great ethical honest and concerned about people....that is rare and so very much embraced/valued by people who are not in your industry. Thank you. Sent from Australia#
Layaway (delayed gratification) was ingrained in me as a child. I grew up poor and swore I’d change my life situation as an adult. I did it by staying debt free. Love your channel, Todd.
Todd, “thank you” seems inadequate for all you are doing for those of us looking to buy a house. I fully agree that the housing market is 40%-50% overvalued. I intend to wait it out and will continue to watch your show and appreciate your wealth of advice. Thank you.
Hey Todd,
I have done your WDI inspections before. We have seen a big drop in home inspections. Very informative channel! Thank you for your business!
Great content. A few thngs to consider when looking at layoff numbers. One, they are announced in aggregate but actually happen over ensuing months. Two, the laid off peson is not actually added to the unemployment numbers until they are terminated (in the future). Also, they typically get severance packages which allow to them to continue to consume as if still employed for awhile.
And the other general comment on how the government presents the unemployment is that it is massaged in such a way that no one can pinpoint what's actually going on at any point in time.
Excellent work ☝️
From Maryland. I appreciate your interview with Peter Schiff. I agree with you about the Govt employment numbers. Illegals are Not just taking jobs Americans won't do; they are taking jobs in many areas. Americans are taking 2 n 3 jobs just to get by.
Let's face reality though.
RE speculation has driven up prices.
Gold is Controlled.
But Govt is not allowing a Free Market so most things are Controlled.
Ang Govt Control is Bad Control.
The 165k jobs number will be revised, just like the last 8 months or so.
Thanks for covering all this Todd. Appreciate all your hard work, and I appreciate the honesty with everything. You’ve had some really amazing guests, and all the info has been really informative. Hopefully can all navigate these waters better with honest insight such as yours.
Thanks for your comment 🙏
There's a building boom in Florida. So many homes and condos being built in every neighborhood . In 2008 it took a big hit with many foreclosures. I kind of see that on the horizon.
Great job Todd 👏 Loved your work ~ New here & look forward to catching your vid listing & Tues Live 8pm 💯 🤟
Welcome 🙏
I've seen some discretionary food items in Walmart like chips going on sale. The prices have gone up so much that people will say no.
A 2 year long runway to fly from rental to ownership is an excellent idea!
Jobs up over 350,000 today smashing expectations. Home prices “higher for longer”
Cool background scene.
Japan law states that 20% interest is the max on any borrowed $$$$
Hey Todd, have you ever thought about starting a modular home factory specializing in mid size homes?
Love the show Todd!
food and utilities...yep. thanks for pointing this out! the gov inflation numbers are bogus without them. The inflation number we should be using is simply food+fuel!
What happens when foreclosures reach such a level that banks simply can't find buyers, right-off loans, and turn houses over to the occupants?
Now if these people trying to sell houses will realize it and drop prices be much better… then again I doubt.
I love your information Todd. Honestly the truth hurts but I don't want to sell smoke and mirrors to my clients.
I've been reading alot of articles mentioning how worthless 'cash savings' are in this current unstable economy and as a rookie sitting on over 500k savings do you suggest I invest in real estate, stocks or Gold?
Just like the big short film...employers, the wealthy, government sees it as rosy, but it took those who went out to meet the public directly who realised how dire things were!
Our economics and business schools should have included Karl Marx in their curriculum instead of burying his warnings about allowing the capitalist class to make their own rules once they control all the captial, which they now do.
InSaNiTY reigns!
Many of the corporations today are run by Marxists Globalists. True capitalism hasn’t been around since the Sherman Antitrust Act of 1890.
what matters is powell's tie color
My daughter has been unemployed for over a year as a graphic designer so where are the jobs? Sorry, you can't have student loans, a college degree and afford to work at McDonalds. Besides that apartment rents are over $2000 a month
30 year mortgage you end up paying nearly double, but can you do overpayments if you have the possibility?
It's been 2 years we've been talking about a recession coming, i hope it's coming soon, i buy the fear.
It has been here. People took out credit and equity in their homes to stay afloat for the past year. They are running out now. Jobs are diminishing. There has been little to no relief with inflation. Home property taxes are about to skyrocket. Home owners insurance already started inflating. We are in a very dangerous place. Do people have to be homeless and starving for you to get it. I don’t think you have long to wait to see just how much you’ve misjudged the situation.
SORRY, TO DISAPOINT YOU, PEOPLE HAVE LOTS OF MONEY TO SPEND, AND ARE DOING IT
high interest is preferable to run away inflation.
It's not the interest rate that's the problem the interest rate is actually still low if you look at history. It's the high cost of everything that's killing everyone.
LABOR COST AND GREED IS THE PROBLEM
Labor cost is the excuse it’s all corporate greed . Low level laborers don’t make squat
In Atlanta,
We are seeing a lot of large rental companies American Homes 4 Rent and Invatation Homes ( among others) are selling a lot of homes over the 20 year mark.
We have also heard of Invatation Homes buying the majority share of a large new build neighborhood. The new home builders are becoming the “buy here pay here” of the housing market. With a large rental company buying 75% of a new neighborhood, essentially writing the HOA to favor rental companies, and completely controlling the home price and rent will this become a long term move nationwide?
My question:
1. Is it a good time to buy older homes from large rental companies?
2. Should new build neighborhoods be avoided at all costs?
Love your show. Know that was a lot but we stay very focused on these issues and appreciate your expertise and feedback.
Baltimore is a hot market because you can still get deals.. I've seen houses and areas that have been vacant and run-down for years being renovated..
You buying?
Why would you want to live in Baltimore? The crime is bad outside of the harbor area
Yeah, there were attempts to gentrify Oakland, CA also. Not going well...
I’m just gonna use an agent from Sachs lol. I trust no one. I live in RVA and hate it anyway. My job is 100% remote. Va has a reciprocal agreement with MD. I’d even consider NOVA. I’m preparing my finances to pounce on a new home late this year or next year. ❤
Exactly 💯! We got out of debt in 2016 and never bought anything that we couldn't pay for every month. They used to collected interest from us and now we collecting interest from them. 😅😅 love your channel ❤
Awesome! 👏
Food and energy are excluded from inflation figures because they are very volatile and you wouldn't get a very good picture of inflation if you included them
Nah
😂
I’m sorry, but if you choose your dog over having a place to live it is nobody’s fault but your own
Lol
Love the thumbnail, Todd 😂
We need to go back to the days when we had LAYAWAY
Kmart had layaways
Debt so high ...just watched market ...dow up 1.58%
It's all good I'm heavily invested in Wall Street the market supposed to be very bullish this year😅
I hear that eviction lawyer guy has a side gig selling rotary phones.
TJ 😂
In Florida, we are seeing some slight decrease in the new home prices for 55 plus communities, but very little to no decrease in resale prices. Will the real estate prices start to decrease for those 55 plus communities?
but rent now $2000 for 930 sq ft
You need about one quarter of a current workforce in the real estate agent space
The lame excuse to exclude food and energy is they are "too volatile" as I recall.
Right . Why exclude the things people have to continue buy . Seems like these should be the most important factors
I make 50,000 a year. I have three kids, one is a disabled adult child. I work for the government, stable job security. I live in a small apt. I have never been late on my rent. I pay my bills. We need a house so badly. I cry about it every single day. I have no family or financial support from parents/ relatives etc. We just need a house and it is literally impossible. There are so many people in my same situation. It’s just a house. It should be affordable and attainable. It’s a basic necessity. My previous landlord was a greedy slimy slum lord. He decided to throw us out and sell the house in 2022. A few months after squeezing into a new apt. I had to have open heart surgery. Through it all I’ve still never been late on rent or my bills. Houses here in Richmond are literally 2-3x the prices they were just 2 years ago and they aren’t renovated or updated. It’s just sick. 🤢 Something needs to give!
Start looking at manufactured housing and find someone who will let you rent out some land to put it on.
We have been in a recession the past year and a half
Please discuss……After a trip seeing a very large amount of big cranes with considerable construction activity building high rise buildings when I travelled to the USA at the end of 2023…….New York, Utah, Denver, Vermont and considerable other travel, there must be something positive and big going on in the economy?
I see more than eight chains when looking across the coast line from a location on the Gold Coast Queensland Australia in Coolongatta and then driving north to Brisbane.
Add to that the considerable amount of large government infrastructure I saw in both countries. And what I read is happening…
Please explain what you consider is the reason for such large construction activity in both countries? Especially as I agree that the property and share market is due for a considerable correction in the near future. One reason could be because of investors irrational exuberance at this time! And FOMO!
How long will this last? If interest rates are reduced or not increased, there will be no end to investors pushing up the prices of property and shares!
Please help me understand as I am an investor?
Thanks
Cheers
Mark
but houses still selling fast. Just don't understand . For example, Cary, NC is now selling single family house for over 1m, already over nyc price. How is it possible?! But still flying off the shelves.
Dont worry the cash will dry up.
You sound like Peter Schiff❤
We knew this was coming when all the stimmie ran out. Companies hire tens of thousands of people because they got free money to do it. This is going to be a hell of a hangover
Darn where was that lake house?!!
Right?!
“The path forward is uncertain”
As a small business owner, I have never ran my biz credit lines over the max while trying to keep prices same or lower in order to make sales. Is really tough and I hope they do something about all this but i bet this was all known years in advance because why does the economy have to plummet every 10-15 years????
The short answer is so the elites can gobble up bargains as those of us who overextended lose our shirts.
@@harlanjackson6112 i thought the same and I'm sure it's by design.
Lets see if the next recession would be 2040.
Cycles.
Those in real estate won't like this but reform is needed. This reform needs to include removing many of the transactional profit motivators from residential real estate. Not to say no one should make a living off the transaction, but the entire value chain needs to be reviewed and regulated. The ecosystem of banks, loan brokers, title/closing companies, inspectors, RE brokers, RE agents, etc....all clamoring to make money on a house that has transacted multiple times in its life...with commissions/fees rivaling the original build cost over a 50 year horizon. Its madness and creates incentives that aren't healthy for the housing market. This coming from a free market Republican.
Good luck getting the politicians to pass any regulation. Not going to happen even if it all crashes. Too much greed and just not giving a flip.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
People adjusted poorly during the economic change in a negative way
RUN
Please help the hard working forgotten Americans here on Guam!!
Todd handled that dog question about as gracefully as possible.
I'm sorry, but given the option of being homeless or letting the dog go? I'll choose a roof over my head 11/10 times.
Biggest travesty of this housing market is that people list things for any price they want, not what it actually costs and there are really stupid people out there who will pay 2,3,5,12 times what the house is actually worth and then lose it into foreclosure. It should be illegal to list homes for these ridiculous prices. Look if you buy a $150,000 house and do $1,000,000 of upgrades... by all means list it for $1,200,000 but if you buy the house for $150,000 and do absolutely nothing and list it on the market for $500,000 and sell it to a guy who immediately relists it for $750,000 who sells it to a girl who then relists it for $1,200,000 and it still looks like a dilapidated shack... every person speculating these things needs to be put into federal prison, assets seized and permanently banned by any title agency from ever buying anything anywhere. This has to stop.
Just don't be the last guy who buys the house and everything will be fine!
If any of them are even successful it speaks volumes about how stupid we are as buyers. Do we swallow every line by our agent? Our agent who is supposed to represent our best interests?
Well Michael B in Fl shows us examples of pumped prices and sitting there. Burst ponzi
Rent .... alone is 50 percent of my pay... then you got food and bills... that 40 percent... i better not get sick ... i better not leave home or repairs ... pray for no issue with my health... .. i forgot car and insurance....
People are living way out of their means
Yes--Under Biden/ Harris-- people are now bankrupt, but they don't know it yet...
Buy guns gold and grub. Maby buy some cheep land in Argentina they are looking more America than us now!
Asking for input. We’re an active duty family who just received orders. We already own a home and with that we’re keeping it to rent it out. The question we have is. Would you buy again or should we move on base? Housing prices are insane!! We are a family of 5 with 3 teens. We have debt but nothing crazy. Everyone knows move off base to get BAH. Well with prices so high no one is really pocketing extra BAH right now. Input would be wonderful thanks. Oh and we both have great Credit scores and we own two vehicles already.
Another option would be to use your BAH and rent a home off base. You have asked for imput and here is my POV. Given that you have teens, I would rent, not buy at this time. Your teens will be grown and out of the house in a blink of an eye and your housing needs will drastically change when that happens. Home prices and rates are high now so buying now means you most likely will lose money on a home purchase if you sell in a few years. You already own a home that you will be renting out so you still will have your fingers in the real estate pie (a good hedge if the doomers are wrong and prices continue to rise). That said, I do believe that real estate is typically a good long term investment, so if you are looking to purchase your “forever home”, then go for it but if your housing needs may change drastically in the next 5 or so years, I say rent.
How about renting off-base for a while. If you are going to go negative if you live off base at your new duty-station, the choice seems to be clear: live on-base. If you do buy off-base, I suggest you find some-thing at about a 40% discount from market rates, if you can.
I’m hearing from my clients that they are holding onto their jobs even though they want to leave. There’s a lot of insecurity right now. Not looking good
I ordered one medium pan pizza from dominos with tip delivery was 38 dollars. 😅
Quite the quagmire we’re in. If interest rates are reduced that could trigger a black swan event. But I they stay high more banks could fail. Looks like we’re gonna have to face the music and accept asset depreciation
The interest rates are just returning to normal in its to stabilize the economy to reduce inflation. Everything is currently overpriced what they're doing will actually help stabilize the economy. And bring home prices down and bring food prices down.
I owe 33 trillon on 5 credits card but only 900 billion on 6th credit card..see we doing great
Inflation is hurting everyone including Rich people right now. Fed printed trillions and everyone partied for last 4 years and now it is time to suffer. This is just the beginning unfortunately it will get worse as the value of the dollar weakens. Prepare yourself for the next 10 years before national debt explodes and internal conflict begins.
The wealthy class is not really hurting in this inflationary environment. They own their half million dollar and million dollar homes and are heavily invested in the stock market which is at an all time high and have numerous 401ks and high yield savings accounts. They are here on UA-cam commenting all the time saying how fantastic the U.S. economy is doing and why doesn't Todd and everyone else see that.
@@Resmith18SR Rich is hurting too I work in one of the richest zip code in the country and talk to them all the time. Rich is paying higher property taxes, Higher Home Insurance, Higher Car, boat, RV insurance, Higher tuition costs for kids, Higher cost to maintain their pool, yard, roof etc etc .. They have money in the stock market etc but they are feeling the pain not as much as you but definitely feeling the pain
@@SRKNFL34 Tell that sob story to seniors on a low fixed income of less than $15,000 a year, some who are homeless. Wouldn't you agree that people forced to live in their cars or in tents on the streets are suffering more than these wealthy people you're referring to?
@@Resmith18SR I couldn’t care less for Rich people and I am with you on that. I am just saying that inflation is hurting everyone. 3 generations of Americans voted for low interest rates , endless/unbalanced government spending and endless adventures wars so it is time to pay it back for the next 50 to 100 years.
@@SRKNFL34 Thank God I won't be around that long, I only have a few more years left.
Layoffs mean less consumer spending which means LOWER PRICES. It's how you lean out companies and lower inflation. Why are you reporting it as bad? It was the goal! They told us!
Oh, Sh..!!😮
Higher forever-no free money.
Too late for most
If a home is valued for 225k and it sells for 120k. The value wasn’t 225k.
So the rates are not going down ok now WTF
They dont know what they are doing, do they? We are in BIG DOO peeps.
Corporations are betting on the fact that interest rates will drop. When interest rates drop, prices/inflation will go up. The only way is to stay steady and re-structure your own household around it. At the end of the day corporate greed and passing expenses off to the consumer is what led us to where we are today. Corporations keeping prices where they’re at on their products when their costs to produce went down a long time ago. Leveraging their assets and borrowing and building more is their own problem. I didn’t go out and barrow and build a bunch of buildings I can’t afford if interest rates go up. Corporations are mad because rather than reinvesting into their material company they spent it on stock buy backs.