Guess win one for the Gipper comes into play now. Sorry Florida you’re toast for sure.
clt says happy Halloween!
Yahoo Finance: Housing expert: Homeowners are locked in by their low mortgage rate.
Predicted this would happen. If you have a mortgage in the 2%-4% range, you aren’t leaving unless you absolutely have to.
These heightened rates can add $500-$600/mo to an average mortgage payment.
Why would one leave, unless it’s work related, etc? I have no mortgage and ain’t no way in hades I’m getting another one anytime soon. I’ll just keep updating/remodeling my current home.
Don’t underestimate stupid. We just had friends sell because they could “make so much”. Now they are renting because rates are so high and they can’t afford a mortgage payment.
Will be interesting to see how quickly fed starts cutting rates once inflation has been slowed.
Work, new additions to the family, dissatisfaction with current living arrangements/ neighborhood.
Also, a lot of people I know moved because they could “get so much” like NWA said… Not factoring in that their next house was going to cost that much more too.
I think this rate environment coupled with the existing mortgages is going to freeze everyone where they are for the foreseeable future.
Hope you all like your neighbors. (Myself included).
We are set for the foreseeable future. I like having no debt and have no plans to get into another mortgage anytime soon. Any house I’d want would be north of half a million and there is no way I want that kind of debt.
New buzz word you will start hearing on The Tik Tok experts feed. Assumable Mortgage. Its that easy. Lol.
TSD dropping facts.
And I agree with you VA. I don’t have a fancy house (though I’ve dumped a good bit of money fixing it up), but it’s damn near paid for, and I don’t wanna take on any more debt right now. Looking forward to rolling that mortgage payment into my investment account soon.
I’d pay mine off but our rate is so low it wouldn’t be very bright
I get that line of thinking; however, when considering the same scenario a couple years ago, we came to the conclusion that having no debt was what we wanted. Granted, our rate wasn’t as low. Having no debt it so liberating, it’s weird to describe. We just take what was our mortgage payment and either save/invest it.
clt says mortgage payments are optional, like taxes
Axios Charlotte: Get ready, NC. Here comes Wawa.
- Tons.
