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Old 07-14-2023, 02:25 PM   #473 (permalink)
MZ DAIZY
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Quote:
Originally Posted by vtec to vvel View Post
https://www.cnn.com/2023/07/14/busin...ome/index.html

"Homebuyers must ‘learn to live’ with near-7% mortgage rates, says RE/MAX chairman"

Umm....

1. If you are waiting for rates to drop back down near to 2%, you will be waiting for a very long/indefinite period of time.
2. Rates in the 70's/80's/90's were close to 20%, and this when wages were lower even with inflation factored in, so 7% range is very low compared to past times.
3. People are okay with signing off and accepting credit cards and personal loans with rates upwards of 30%, but are afraid of 7% range mortgage rates?
I think everyone is leery of another housing market bubble.

I do get your point about the CC interest, though. But! I know a lot of people that are living day to day on their Credit Cards to supplement their paychecks.
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