US Elections (& Politics) :)

I think income ratio for housing is now 30%

Tightening our belts is keeping interest rates higher not lower.

Mortgages at 5% vs 7% will simply invite more demand and increase prices.

Interest rates aren’t what’s slowing home and auto sales, price is.

Bessent wants a weaker dollar and lower rates to issue more short term debt at lower interest. That’s what’s driving this
 
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All talk and no arrests make Kash a dull boy.

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bigredfish said:
Interest rates aren’t what’s slowing home and auto sales, price is.
Click to expand...

Depends.....

I feel that your typical person who has cash to spend then I might agree. However, the typical American who borrows money for for purchases are looking at monthly payments (interest driven) not the price. This is evidenced by people who bought larger homes than they would normally have because they could afford the payment at a low interest rate such as 3%. (i.e. could have bought a home for $300K but went for the $400K+ home because they could afford the payment at low interest rate). The one thing that always annoyed me when looking at car at a dealer the first questions they would ask is "how much do you want to spend per month?". Welp sir, I don't want to spend a GD penny, I want you to give me that car. But I acknowledge the question was geared towards people who were looking at monthly payment....damn the price of the car...I don't need to know the price....just tell me the payment. Us Americans are sad spectacles when it comes to finances.
 
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Sybertiger said:
Depends.....

I feel that your typical person who has cash to spend then I might agree. However, the typical American who borrows money for for purchases are looking at monthly payments (interest driven) not the price. This is evidenced by people who bought larger homes than they would normally have because they could afford the payment at a low interest rate such as 3%. (i.e. could have bought a home for $300K but went for the $400K+ home because they could afford the payment at low interest rate). The one thing that always annoyed me when looking at car at a dealer the first questions they would ask is "how much do you want to spend per month?". Welp sir, I don't want to spend a GD penny, I want you to give me that car. But I acknowledge the question was geared towards people who were looking at monthly payment....damn the price of the car...I don't need to know the price....just tell me the payment. Us Americans are sad spectacles when it comes to finances.
Click to expand...

You just made my argument.

When I say “price” I mean and agree exactly with what you said. Most only care about monthly payment.

The problem with the argument that interest rates are the deciding factor doesn’t add up when you go back to the 80’s when my parents were paying 12+%, OR the boom before 2009 when nobody was bitching about 6% (including me)

They cared about the payment not the 12%

We refinanced from 6 to 3.25 and cut our 2007 note to 15 years and saved a bundle.

But none of that was the deciding factor in 2007 on purchase. Price was.
We were approved for $500k but we said $2000 p/mo is our limit. We bought a $300k house.

The interest could have been 1% or 20%, it didn’t matter.

By the way historically the Fed rate has little to do with mortgage rate. It follows the 10yr bond yield
 
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This should work out well for those who can't even make change from a $20 let alone manage their own finances and find themselves at age 60 with $10K in the bank, a big mortgage, a new $700 /mo car and complain it must be someone else's fault they can't retire...

The younger know it all generation will say, Yay! If I can invest my own retirement I’ll come out so much further ahead.
Then they won’t , and we’ll be facing a bigger problem in 20 years.

Scott Bessent admits that Trump just created a ‘back door for privatizing Social Security’​

fortune.com

Scott Bessent admits that Trump just created a 'back door for privatizing Social Security'

Hours later, Bessent walked it back, saying, “our Administration is committed to protecting Social Security and to making sure seniors have more money."
fortune.com fortune.com
 
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Every fucking DC Republican and Democrat politician is a grifting fucking fraud and criminal.

Every.Fucking.One.

They’re laughing at you, but keep reelecting them

 
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2% inflation huh? :rofl:
(All depends on what you count, or don’t)

I said last month Health care premiums were going to skyrocket

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