Mortgage rates just shoot past 7%
>>542430869why would house prices crash? boomers can sit on them forever
>>542430869FBI anounced all home deeds are voided due to increasingly rampant deed fraudmillions of home owners go homeless
>>542431088and they'll reverse mortgage + social security to retain their faux lifestyle while shitskins get houses handed to them for free
>>542431346Chinese deed fraud taking entire states by storm leaving the white boomers homeless
wew lad
>>542431088Boomers won’t be around forever. But if they have a reverse mortgage, the house belongs to the bank. Or if they use Medicaid the state can take the house via estate recovery and you can’t gift it or sell it.
>>542430869Oh nose!
>>542430869ABSOLUTELY POSITIVELY WEIMAR
>>542430869>Median home sales price in the USA: $430K>Total you will spend on a 30 year fixed rate mortgage at 7% for a $430K house: $1,029,888 .Doesn't this mean nobody will ever be able to afford a house? The median house is actually over a million dollars.
>>542431088Thankfully the greedy fucks are already dying off, it's only a matter of time
>>542432289Medicaid can't take your primary residence
>>542430869Why would this cause housing to crash? Most Americans who hold mortgages are in the 2-3% range and have zero pressure to sell.
>>542431088They actually can't. A lot of boomers are financially illiterate and ended up blowing their savings on casinos and RVs and now rely on social security checks. A large chunk of their networth are tied to the "theoretical" price of their homes. I've seen boomers trying to prevent their own neighbor's inheritors from selling homes too low. The panic is setting in for them.
>>542430869xUuuhhhhhhh. crash is supposed to go down, dumdum
>>542432431zoom out
>>542434369they played the boomers well, that's for sure
>>542430869Sorry goy, I'm just not going to lower my price. You lost, tranny
>>542431272>>542431645Sorry goy, mortgage is owned by the bank, no can do, it's Israeli property.
>>542430869I'm retarded what does this mean?
>>542434114>Why would this cause housing to crash?nobody can take loans to buy new houses because of the huge interest no new house purchases = price of housing go downprice of housing go down = economy collapse
I can never afford to sell, and you can never afford to buy.We've reached a total lockdown.I can never let go of my 2.8% rate, and you don't want a 7.5% rate.
>>542432289>Boomers won’t be around foreverYes they will. Politicians will do anything to keep boomers comfortable at the expense of anyone under 60. Gen X, Millenials and Zoomers will be hooked up to machines and have their blood and plasma harvested in an effort to keep boomers alive a little longer. You and your wife getting a 50 year dual income mortgage to buy one of their shithole rental properties is not enough. You paying 60% tax to pay their pensions is not enough. You giving up on ever having children of your own is not enough. Boomers want your blood and plasma, cells, bone marrow, anything. They will find a way to harvest their childrens organs and live forever.
>mfw I live in Wyoming where billionaires are rushing to pay 3x market price for my land
>>542434604Intrest rates go down, housing prices go up, boomers get more, banks get less. Intrest rates go up, housing prices go down, boomers get less, banks get more. For buyers the intrest rate really doesn't matter. Intrest rates for 25 years fixed dipped under 1% here in 2021 but the result was buyers overpaid and boomers added an indoor pool to their mansion in Spain.This dynamic only applies to lower and middle class housing. Upper class homes are insulated from intrest rates entirely, because rich people don't need to borrow money to buy a house, sell some stock or their 6 figure house to buy 6 figure house elsewhere.For a normal person buying a home, high intrest rates are good. Giving your money to a bank instead of a boomer is the lesser of two evils
>>542434671a drop in retail real estate loan demand isn't going to do anything to the economy lol
