[hipmatt]

^^^^^^^^^^^^^^^^^
What arraya said.

[hipmatt]

^^^^^^^^^^^^^^^^^
What arraya said.

[hipmatt]

^^^^^^^^^^^^^^^^^
What arraya said.

[hipmatt]

^^^^^^^^^^^^^^^^^
What arraya said.

[hipmatt]

^^^^^^^^^^^^^^^^^
What arraya said.

[hipmatt]

I saw this article, and thought of this thread…

Teens turn to thrift as jobs vanish and prices rise..
http://www.usatoday.com/money/economy/2008-04-19-teen-recession_N.htm?loc=interstitialskip

DWCAP .. great post.

There have been a few people hinting that for selfish reasons, they wouldn’t want higher rates. Are you sure? This has been debated here before and in another thread. When rates rise, housing prices fall dramatically to account for the higher monthly payments that everyone shopping for homes must make. You are competing for homes with your peers, usually they can only afford to finance so much as well. You may still make an $1800 mortgage, but the home is now $250k, vs $300k when rates were lower. So the only difference being the sales price(lower), and all other factors based on the sales price like property taxes, insurance, escrow fees, points, etc.(also lower)

The advantages to this are: Buying a house at a lower price than everyone else, the opportunities to get to refi when rates become low again(and have an absurdly low mortgage), since you are paying a higher interest rate, you’ll enjoy more of a tax write off, and when you sell, if rates are low, you will make a killing due to a likely increase in home values. Those with even more of a down payment should want higher rates even more so, due to the fact that they are financing less than everyone else, and in the mean time, can earn a more decent return with their cash.

So for me, sure I want higher rates, and lower home prices, and Marion, you should probably want higher rates too.

[img_assist|nid=7290|title=Here is a better chart for mortgage rates since 71…|desc=|link=node|align=center|width=466|height=265]

[hipmatt]

I saw this article, and thought of this thread…

Teens turn to thrift as jobs vanish and prices rise..
http://www.usatoday.com/money/economy/2008-04-19-teen-recession_N.htm?loc=interstitialskip

DWCAP .. great post.

There have been a few people hinting that for selfish reasons, they wouldn’t want higher rates. Are you sure? This has been debated here before and in another thread. When rates rise, housing prices fall dramatically to account for the higher monthly payments that everyone shopping for homes must make. You are competing for homes with your peers, usually they can only afford to finance so much as well. You may still make an $1800 mortgage, but the home is now $250k, vs $300k when rates were lower. So the only difference being the sales price(lower), and all other factors based on the sales price like property taxes, insurance, escrow fees, points, etc.(also lower)

The advantages to this are: Buying a house at a lower price than everyone else, the opportunities to get to refi when rates become low again(and have an absurdly low mortgage), since you are paying a higher interest rate, you’ll enjoy more of a tax write off, and when you sell, if rates are low, you will make a killing due to a likely increase in home values. Those with even more of a down payment should want higher rates even more so, due to the fact that they are financing less than everyone else, and in the mean time, can earn a more decent return with their cash.

So for me, sure I want higher rates, and lower home prices, and Marion, you should probably want higher rates too.

[img_assist|nid=7290|title=Here is a better chart for mortgage rates since 71…|desc=|link=node|align=center|width=466|height=265]

[hipmatt]

I saw this article, and thought of this thread…

Teens turn to thrift as jobs vanish and prices rise..
http://www.usatoday.com/money/economy/2008-04-19-teen-recession_N.htm?loc=interstitialskip

DWCAP .. great post.

There have been a few people hinting that for selfish reasons, they wouldn’t want higher rates. Are you sure? This has been debated here before and in another thread. When rates rise, housing prices fall dramatically to account for the higher monthly payments that everyone shopping for homes must make. You are competing for homes with your peers, usually they can only afford to finance so much as well. You may still make an $1800 mortgage, but the home is now $250k, vs $300k when rates were lower. So the only difference being the sales price(lower), and all other factors based on the sales price like property taxes, insurance, escrow fees, points, etc.(also lower)

The advantages to this are: Buying a house at a lower price than everyone else, the opportunities to get to refi when rates become low again(and have an absurdly low mortgage), since you are paying a higher interest rate, you’ll enjoy more of a tax write off, and when you sell, if rates are low, you will make a killing due to a likely increase in home values. Those with even more of a down payment should want higher rates even more so, due to the fact that they are financing less than everyone else, and in the mean time, can earn a more decent return with their cash.

So for me, sure I want higher rates, and lower home prices, and Marion, you should probably want higher rates too.

[img_assist|nid=7290|title=Here is a better chart for mortgage rates since 71…|desc=|link=node|align=center|width=466|height=265]

[hipmatt]

I saw this article, and thought of this thread…

Teens turn to thrift as jobs vanish and prices rise..
http://www.usatoday.com/money/economy/2008-04-19-teen-recession_N.htm?loc=interstitialskip

DWCAP .. great post.

There have been a few people hinting that for selfish reasons, they wouldn’t want higher rates. Are you sure? This has been debated here before and in another thread. When rates rise, housing prices fall dramatically to account for the higher monthly payments that everyone shopping for homes must make. You are competing for homes with your peers, usually they can only afford to finance so much as well. You may still make an $1800 mortgage, but the home is now $250k, vs $300k when rates were lower. So the only difference being the sales price(lower), and all other factors based on the sales price like property taxes, insurance, escrow fees, points, etc.(also lower)

The advantages to this are: Buying a house at a lower price than everyone else, the opportunities to get to refi when rates become low again(and have an absurdly low mortgage), since you are paying a higher interest rate, you’ll enjoy more of a tax write off, and when you sell, if rates are low, you will make a killing due to a likely increase in home values. Those with even more of a down payment should want higher rates even more so, due to the fact that they are financing less than everyone else, and in the mean time, can earn a more decent return with their cash.

So for me, sure I want higher rates, and lower home prices, and Marion, you should probably want higher rates too.

[img_assist|nid=7290|title=Here is a better chart for mortgage rates since 71…|desc=|link=node|align=center|width=466|height=265]

[hipmatt]

I saw this article, and thought of this thread…

Teens turn to thrift as jobs vanish and prices rise..
http://www.usatoday.com/money/economy/2008-04-19-teen-recession_N.htm?loc=interstitialskip

DWCAP .. great post.

There have been a few people hinting that for selfish reasons, they wouldn’t want higher rates. Are you sure? This has been debated here before and in another thread. When rates rise, housing prices fall dramatically to account for the higher monthly payments that everyone shopping for homes must make. You are competing for homes with your peers, usually they can only afford to finance so much as well. You may still make an $1800 mortgage, but the home is now $250k, vs $300k when rates were lower. So the only difference being the sales price(lower), and all other factors based on the sales price like property taxes, insurance, escrow fees, points, etc.(also lower)

The advantages to this are: Buying a house at a lower price than everyone else, the opportunities to get to refi when rates become low again(and have an absurdly low mortgage), since you are paying a higher interest rate, you’ll enjoy more of a tax write off, and when you sell, if rates are low, you will make a killing due to a likely increase in home values. Those with even more of a down payment should want higher rates even more so, due to the fact that they are financing less than everyone else, and in the mean time, can earn a more decent return with their cash.

So for me, sure I want higher rates, and lower home prices, and Marion, you should probably want higher rates too.

[img_assist|nid=7290|title=Here is a better chart for mortgage rates since 71…|desc=|link=node|align=center|width=466|height=265]

[hipmatt]

BobS, I have to say, from what I’ve seen and heard, I agree with you. There are many other states that are much more business friendly, and I know people are leaving CA for them. The biggest population migration to SD is from illegals. This can’t be good for the housing market either.

[hipmatt]

BobS, I have to say, from what I’ve seen and heard, I agree with you. There are many other states that are much more business friendly, and I know people are leaving CA for them. The biggest population migration to SD is from illegals. This can’t be good for the housing market either.

[hipmatt]

BobS, I have to say, from what I’ve seen and heard, I agree with you. There are many other states that are much more business friendly, and I know people are leaving CA for them. The biggest population migration to SD is from illegals. This can’t be good for the housing market either.

[hipmatt]

BobS, I have to say, from what I’ve seen and heard, I agree with you. There are many other states that are much more business friendly, and I know people are leaving CA for them. The biggest population migration to SD is from illegals. This can’t be good for the housing market either.

[hipmatt]

BobS, I have to say, from what I’ve seen and heard, I agree with you. There are many other states that are much more business friendly, and I know people are leaving CA for them. The biggest population migration to SD is from illegals. This can’t be good for the housing market either.

[Author]

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