this will reverse in a few years when the high interest rate works through the system.
Seems to me right now only people who can afford to buy are people within the bubble. they trade up with a low interest mortgage (which are gone now) and hope to capitalize on appreciation.
but if there's a variable mortgage involved or they need to sell they're screwed.
whatdoiknowima65yomd t1_j4n2cn1 wrote
Reply to The current housing market in a nutshell by LopsidedWafer3269
this will reverse in a few years when the high interest rate works through the system.
Seems to me right now only people who can afford to buy are people within the bubble. they trade up with a low interest mortgage (which are gone now) and hope to capitalize on appreciation.
but if there's a variable mortgage involved or they need to sell they're screwed.
correct me if i'm wrong please