Mortgage demand collapses, below 2008

[Dekster]

I am not so sure fighting inflation is the fed's true motive right now TBH. Until the debt ceiling is increased, they are going to be focused in bringing in as much cash as possible and sending out as little cash as they can get away with to stave off defaulting on bonds.

 

[1srelluc]

I agree, but there are those like Protectionist who are convinced that landlords are just using tenants as cash cows--and to be fair, there may be a few of those, but by and large I think it is the scenario that you explained. Again, the few abusers make it difficult for the many responsible landlords.

How else would you use them?

That said landlords have upkeep responsibilities but there's no free rides...or at least there shouldn't be.

IMHO the rent moratorium during covid was illegal as fuck.

 

[jbrownson0831]

Why am I not surprised? Lower level wages have doubled while skilled wages have basically stagnated. Meanwhile, real estate prices have doubled. In 2008 we had average unskilled wages of $10/hr trying to buy homes in the $350K-$400K range which is virtually impossible to sustain. Now we have low-skill wages of $14-$18/hr vying for houses in the $650K-$800K range. Problem is, everything else has increased in price to keep pace and the lower wages have put home ownership further out of reach for even the skilled workers. The feds answer to raise interest rates just compounds the problem. The problem boils down to democrats trying to manipulate the economy instead of allowing the free market to do its job.

Dont forget the interest rate going from 2 to 7%.

 

[Lisa558]

Shelter in place my friend...all is going to plan

Every time I go to the grocery store, I buy an extra bottle of water and a few extra cans of veggies, fruits, and tuna. My pantry is starting to look well-prepped.

Don’t forget the manual can opener.

 

[Lisa558]

How else would you use them?

That said landlords have upkeep responsibilities but there's no free rides...or at least there shouldn't be.

IMHO the rent moratorium during covid was illegal as fuck.

So was disallowing evictions for tenants who didn’t pay their rent. Lots of landlords are small owners, and depend on that income to make the mortgage on the property.

Just more of that liberal “hating the business owner” and protecting “poor unfortunates who don’t pay their rent.”

 

[Winco]

Good! Now if home prices will just collapse, I will buy.

You don't ALREADY own a home?
Why Not?

 

[Winco]

Every time I go to the grocery store, I buy an extra bottle of water and a few extra cans of veggies, fruits, and tuna. My pantry is starting to look well-prepped.

Don’t forget the manual can opener.

Is there a Doomsday Coming?
A Natural Disaster?
Another Pandemic?

Why the Chicken Little Routine?

 

[Woodznutz]

You don't ALREADY own a home?
Why Not?

My employer has provided me with a house. I haven't owned one in over 40 years.

 

[1srelluc]

My employer has provided me with a house. I haven't owned one in over 40 years.

I had a GF whose dad was a prison warden. They lived in a decent home provided by the state. All the yard work was done by the convicts too.

 

[initforme]

More young people living with parents is helping this and it's not a negative.

 

[1srelluc]

More young people living with parents is helping this and it's not a negative.

That might be the case if they were saving for a place of their own.....Most I here tell of are pretty much leeches enjoying the high life and think their parents are their slaves.

 

[Woodznutz]

That might be the case if they were saving for a place of their own.....Most I here tell of are pretty much leeches enjoying the high life and think their parents are their slaves.

A lot of parents actually want their kids to stay living at home after HS. My dad made it clear early on that he wanted us out asap after graduation.

 

[Dekster]

A lot of parents actually want their kids to stay living at home after HS. My dad made it clear early on that he wanted us out asap after graduation.

LOL I come from a big family. My dad was like that with the older ones as then they were less mouths to feed but as his free labor pool shrank it became "Please don't leave me. Then I'll have to start mowing the grass, carrying out garbage, and cleaning!!"

 

[Woodznutz]

LOL I come from a big family. My dad was like that with the older ones as then they were less mouths to feed but as his free labor pool shrank it became "Please don't leave me. Then I'll have to start mowing the grass, carrying out garbage, and cleaning!!"

My dad wanted to move on with his life; remarry, move to a smaller house.

 

[1srelluc]

The worst thing that ever happened was parents being able to carry their adult children on their health insurance till they are 26.....The fuckin' Halfrican should be strung-up just for that.

Hell, I had my own health insurance at 19.

 

[Dekster]

My dad wanted to move on with his life; remarry, move to a smaller house.

Oh my parents stayed married to the bitter end. They were too spiteful to give the other one the satisfaction of a divorce.

 

[Woodznutz]

How else would you use them?

That said landlords have upkeep responsibilities but there's no free rides...or at least there shouldn't be.

IMHO the rent moratorium during covid was illegal as fuck.

Much of rent increases are driven by property tax increases by local governments, but most is pure greed.

 

[Woodznutz]

Oh my parents stayed married to the bitter end. They were too spiteful to give the other one the satisfaction of a divorce.

My dad did remarry but it wasn't the happy union he wanted. Not all her fault either. He wasn't the easiest person to live with.

 

[Woodznutz]

Is there a Doomsday Coming?
A Natural Disaster?
Another Pandemic?

Why the Chicken Little Routine?

Stocking up makes sense even if there is no imminent threat of doomsday. Fewer annoying trips to the store for one.

 

[Lisa558]

That might be the case if they were saving for a place of their own.....Most I here tell of are pretty much leeches enjoying the high life and think their parents are their slaves.

Yup. I lived with my parents for 10 months after I graduated from college. I did not use my salary that first year for the good life: I treated myself to an occasional evening out with friends, but most of it went into the bank for furniture I would need to buy for the apartment I would be moving to shortly. It was always understood by my parents and myself that my living with them was a temporary situation until I could build up some savings.