Mortgage rates are at 7.6%. Will Zestimate Stacy's finally be forced to reduce her price? She's been winning bigly for the last 15 years
>>62742341stacychads will stay winning alwaysenjoy the matriarchy, chud
never selling
>>62742341I have $410k and I'm no joke of putting 300k down when I buy a house next year.
The funny part is all the zestimate staceys are going to be the ones demanding their husband sell after being obsessed with their zestymate.
>>62742350nah dude put 5% down liquidity max bruhcephus
>>62742571I mean I could put $0 down with the VA loan but then I'd be paying so much interest
>>62742341Depends how fast you need to sell.Doesn't much matter though if you only get $650k for an $800k house if you only paid $70k in the first place.
>>62742576Negative equity exists though, you now owe 150k
>>62742582Could happen if you bought recently. But 40% of US homeowners don't owe any money. And I'd guess people that have paid off homes are more likely to sell in a downturn than someone that will end up paying money to sell.
>>62742590Honestly the moment a recession happens shit will hit the fan when the massive valuations + property taxes kick in.
>>62742341>She's been winning bigly for the last 15 yearsno she hasn'treal estates never been a worse investment
>>62742653>real estates never been a worse investmentWtf but I'm 29 and need to get started on having my family
>>62742590Interesting I didn't know that. Is that including heloc's though or other credit leveraged against your house without being a mortgage?
>>62742639If that's true rent will go up even more and pretty much everyone will be homeless.
>>62742653The house she bought for $400k with daddy's down payment gift is now worth $950k. Sounds like winning to me
>>62742657Yes that's the number that own their home outright without any attached debt.Not terribly surprising when you realize most of them are boomers that paid less than $100k and paid it off well before retirement
>>62742350Why not put that 400k in an index fund and make between 40-50k a year?
>>62742784because your 400k is about to become 200k
>>62742341Distressed sellers are going to skyrocket by next summer.
>>62742350If you have reliable and steady income this is very much what you should be doing. A 15-year note might also be wise.
>>62742655Buying a house to live in for 20 years is always a "good investment." As a financial instrument real estate is a bad play at the moment. It takes about five years to break even on purchasing a home (vs renting) in normal circumstances without any financial jewry.
>>62742664This is less exciting when you realize that only about 3% of housing supply is sold in a given year. There is a ton of room to gut the market no matter what the 40% clear note holders do.
>>62742639In a recession valuations will drop hard, but you may be right about property taxes, since local governments will be short cash.
>>62743246Tards dont understand property tax
>>62742341At some point interest rates will drive monthly mortgage to unpayable and then they will be forced to sell. If not that, the property tax assessments doubling will. This is all by design. Bankers, naturally, reap the rewards.
>7.6%fucking where? I locked in 7% last week and I literally am not scoreable according to the credit bureaus.Also, you don't get to win until you sell.
>>62742784Sounds like a good way to get rapedSee >>62742816>>62743237No I just left my job. Gf makes 100k though.
>>62742348What do we call the first horse out of the gate?
>>62742359Kek>>62742590Okay well then yo
>>62745833>>62742590Whoops. But you also didn't just pay 70k.
>>62745819>bragging about 7% as a wingrim. mother fuckers delete half their salary in interest payments and call it an investment. amazing
>>62742344That's kinda hot
>>62745837>you also didn't just pay 70kI paid $100k, but if I had bought my house 2 years earlier it was selling for $70k
>>62742574I put down zero because it's like shorting the dollar, what would I sell my bitcoin to own a house outright and still have more than half my bag left over? Hell no. Got a 5.9% rate too and closed Wednesday.
>>62747769I get that but 7.5% is rough
>tfw I was a chad that bought in 2021 at 2.4%
I've changed my mind. I want rates to got to 10% + and then I'll buy in cash. Hopefully that would make housing prices fall enough
>I've changed my mind. I want rates to got to 10% + and then I'll buy in cash. Hopefully that would make housing prices fall enough
>>62747990You're chud quoting a chud quote post
>You're chud quoting a chud quote post
>>62748186
>>62748198
