30-Year Mortgages Are Still a Sweet Deal—For People who Already Have Them
2374 sats \ 8 comments \ @Undisciplined 5 Dec 2023 econ
This is one of the big frictions in the housing market right now. My wife and I would be much more willing to move if we didn't have a huge rapidly depreciating liability on our balance sheet right now. I get why so few home owners are interested in selling out already falling prices.
30-Year Mortgages Are Still a Sweet Deal—For People who Already Have Them By Doug French "Government intervened into home mortgages to subsidize home buyers and make home ownership more 'affordable.' As with most interventions, the results have backfired as home prices and mortgage rates skyrocket."
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443 sats \ 3 replies \ @grayruby 5 Dec 2023
You got the econ sub. Awesome. Congrats.
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50 sats \ 2 replies \ @Undisciplined OP 5 Dec 2023
Not me alone. @jeff put the finishing touches on creating this territory.
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1093 sats \ 1 reply \ @jeff 6 Dec 2023
I was thinking of your posts when I set it up.
Lets make this territory great!
As is, I already have lots of feedback for @k00b and team on the general plan/incentives/tools, to make these "territories" work well. Like he says, its software.
You can count on me to be a high-integrity territory-op(erator), in a do-whats-best-for-greater-good kindof way.
In due time, i'm hoping we can agree to some principles/guidance that make sense for the econ territory, which will be compatible with the long run vision of SN.
Giddy-up!
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50 sats \ 0 replies \ @Undisciplined OP 6 Dec 2023
I look forward to all the developments and conversations about developments. I'm sure we're in good hands in Econ Territory.
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443 sats \ 2 replies \ @siggy47 5 Dec 2023
No doubt. Prices would have to fall substantially to increase supply.
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183 sats \ 1 reply \ @Undisciplined OP 5 Dec 2023
That sounds backwards, but weirdly it's correct.
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422 sats \ 0 replies \ @siggy47 5 Dec 2023
I know. I think that's what happens when central banks are out of control and pivot wildly.
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422 sats \ 0 replies \ @BlokchainB 5 Dec 2023
Called the golden handcuffs. But I am thinking of doing. Refi to draw some cash out pay down some higher interest debts!!!
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