Mortgage demand falls to the lowest level in 22 years

Well hopefully that causes a corresponding decrease in home prices but I doubt it given the supply/demand right now.....That and there are a shit ton of 30-40 somethings that just rent single family homes now, even in my AO because they commute to work in NOtVA and often transfer out within a few years.

Hell, one local contractor built 18 homes a few years back and rents everyone of them out to .gov workers, mostly BP instructors.

It makes some sense if they are going to be gone before they gain enough equity (in a normal market) to make the juice worth the squeeze of buying a home.
 
Biden running record surplus & cranking interest rates to slow inflation from all Trump's money printing & damage to oil industry. He should also increase taxes to sop up more of Trump's printed money.
 
All the house flippers finally ran out of cash. Good. The game of musical chairs has flopped, now the last ones stuck with those money pits will flood the bankruptcy courts and cry po me! and leave taxpayers to eat the losses. Already have two abandoned houses on the next block over, and the news is still braying stupid crap about 'the big giant housing boom', so I guess the local flippers aren't all leveraged to the max yet.
 
Last edited:
According to your link, the drop is due to persistently low housing inventory and the jump in mortgage rates over the past two months

One of those we could maybe blame on the POTUS, but is the POTUS really responsible for housing inventory?
 
Well hopefully that causes a corresponding decrease in home prices but I doubt it given the supply/demand right now.....That and there are a shit ton of 30-40 somethings that just rent single family homes now, even in my AO because they commute to work in NOtVA and often transfer out within a few years.

Hell, one local contractor built 18 homes a few years back and rents everyone of them out to .gov workers, mostly BP instructors.

It makes some sense if they are going to be gone before they gain enough equity (in a normal market) to make the juice worth the squeeze of buying a home.

Same thing happens around most military bases. Whole neighborhoods of nothing but rental homes.
 
Biden running record surplus & cranking interest rates to slow inflation from all Trump's money printing & damage to oil industry. He should also increase taxes to sop up more of Trump's printed money.
How long have you been this delusional?
 
All the house flippers finally ran out of cash. Good. The game of musical chairs has flopped, now the last ones stuck with those money pits will flood the bankruptcy courts and cry po me! and leave taxpayers to eat the losses. Already have two abandoned houses on the next block over, and the news is still braying stupid crap about 'the big giant housing boom', so I guess the local flippers aren't all leveraged to the max yet.
This ain't the stupid Bush deregulation "American Dream Act" of 2003 that allowed homes to be bought with no money down & no job. Homeowners today have skin in the game & income. Banks are sitting on piles of cash Trump printed, so there won't be massive foreclosures or bank failures.
 
This ain't the stupid Bush deregulation "American Dream Act" of 2003 that allowed homes to be bought with no money down & no job. Homeowners today have skin in the game & income, so there won't be massive foreclosures or bank failures.

You probably think they changed up a lot of stuff after the last bailout. They didn't.
 
This ain't the stupid Bush deregulation "American Dream Act" of 2003 that allowed homes to be bought with no money down & no job. Homeowners today have skin in the game & income. Banks are sitting on piles of cash Trump printed, so there won't be massive foreclosures or bank failures.

I know that builders are not messing around, we had to put 20% earnest money down to even sign the contract.
 
Biden running record surplus & cranking interest rates to slow inflation from all Trump's money printing & damage to oil industry. He should also increase taxes to sop up more of Trump's printed money.
The Biden Administration has been printing money, some $350 billion, just like the Trump Administration had. Biden would have reduced the deficit more had he done absolutely nothing coming off the pandemic. The CBO says Biden could have reduced the budget by $870 billion instead of $350 billion.

Also Congress is the one that holds the purse strings not the President. Presidents get too much credit and blame for the economy, yet that is how they lose and win in elections. Go figure.
 
Subprime Housing Lending Bubble was a direct action of President Bush Signing the "American Dream Down-payment Act!" in 2003.

drecon_0912.png
 
The Biden Administration has been printing money, some $350 billion, just like the Trump Administration had. Biden would have reduced the deficit more had he done absolutely nothing coming off the pandemic. The CBO says Biden could have reduced the budget by $870 billion instead of $350 billion.

Also Congress is the one that holds the purse strings not the President. Presidents get too much credit and blame for the economy, yet that is how they lose and win in elections. Go figure.
You Lie! - Trump printed 5 times more money as all other presidents COMBINED!!!!!!!

fredgraph.png
 
Same thing happens around most military bases. Whole neighborhoods of nothing but rental homes.
Yeah, you just have to be aware of the market, a Border Patrol instructor who worked at the K9 training center in my AO bought next to me and he made bank in just the three years he was here because the market was so hot.

Even then the only reason he bought was because he has five kids and could not find a rental big enough....Damn good neighbor. I think he's up on the border in Montana now.
 

Forum List

Back
Top