42 sats \ 3 replies \ @Hamstr 9 May \ on: American Homeowners: Regional Markets Show Signs of Struggle econ
It's the homeowners that are going to be the ones hurt by this the most. As they are "gold-cuffed" and home prices exponential exploded. FACT: NO one wants to sell their house lower than what they bought it for. With higher interest rates it should have lowered the house prices but have been steady. You have to think who the F*k wants to buy a house with interest rates at 5-7% and 2x higher than what it 2/3 years ago? Something gotta give. Whenever this bubble busts, I wouldn't be surprised to see 30-40% off just to get rid of their property.
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42 sats \ 2 replies \ @entrope 9 May
I was under the impression the fed acts as a bubble burst protection team, and will lower rates when things start getting dicey.
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0 sats \ 1 reply \ @TomK OP 9 May
Don't overrate their power
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42 sats \ 0 replies \ @Hamstr 9 May
Let's be honest-When the government gets involved, it's always misery. Just like SW, 2020, 2008, all the way back to when the fed getting established in the 1800s. I'm not even including wars.
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