Kamala Says Young People Aren’t Buying Homes Due to ‘Climate Anxiety,’ Doesn’t Mention 7% Interest Rate.

[Ignobel]

Kamala Says Young People Aren’t Buying Homes Due to ‘Climate Anxiety,’ Doesn’t Mention 7% Interest Rate.

 

[Ignobel]

 

[Bray123]

I bought my first home when the interest was 17%.

There was no climate anxiety though.

 

[Veroe]

Climate anxiety is a factor so is the interest rate, and so is the ridiculous cost of buying a home right now. It's even expensive to rent one forget buying a house.

 

[Bn2f]

You also forgot to mention this:
https://www.cnbc.com/amp/2021/09/17...e-for-millennials-wanting-to-buy-a-house.html

What’s her position on this I wonder?

Par for the course - Dumbass thread.

 

[FelHarper]

The overarching problem is wealth inequality and an oversupply of elites.

 

[Veroe]

The overriding problem is that the market disproportionately rewards builders who buil Mcmansions rather than affordable starter homes. Also there's a problem with private capital buying large swaths of houses on the market with cash on hand narrowing the market even more.

 

[ll74]

So it has to be one or the other?

 

[HisArpy]

Lol at some of these responses.

7% is offputting for those who want a mansion on a paupers income. It doesn't, however, prevent anyone from buying a home which they can afford. They just have to downsize their dreams into the realm of reality.

Interestingly enough, the Fed isn't going to bump the rate this month. Second month in a row for them not to act while inflation continues to skyrocket. There's probably a reason and that reason is most likely tied to the housing market. If they bump the rate the housing market crashes. It's sliding now but a rate increase will cause a catastrophic crash.

So the Fed is trying to straddle the fence. On the one hand the housing market will slowly crumble while people can't afford the rising cost of groceries let alone pay the rent before getting kicked out of their apartments versus the other hand where the interest rate goes up, the housing market fails, and people can afford groceries while they live on the street.

 

[ll74]

Lol at some of these responses.

7% is offputting for those who want a mansion on a paupers income. It doesn't, however, prevent anyone from buying a home which they can afford. They just have to downsize their dreams into the realm of reality.

Interestingly enough, the Fed isn't going to bump the rate this month. Second month in a row for them not to act while inflation continues to skyrocket. There's probably a reason and that reason is most likely tied to the housing market. If they bump the rate the housing market crashes. It's sliding now but a rate increase will cause a catastrophic crash.

So the Fed is trying to straddle the fence. On the one hand the housing market will slowly crumble while people can't afford the rising cost of groceries let alone pay the rent before getting kicked out of their apartments versus the other hand where the interest rate goes up, the housing market fails, and people can afford groceries while they live on the street.

Inflation isn't skyrocketing. It's dropped over half from a year ago.

 

[ll74]

The depreciating dollar may have something to do with it too. According to a website that keeps track of such things, the estimated value of my house has gone up $17,000 in the last 30 days… for no reason.

Well, one reason… the continued devaluation of our currency.

That almost seems like an opportunity to provide a link to a website.

But please, don't provide information to others when you can just tell them what to think

 

[Chobham]

Kamala Says Young People Aren’t Buying Homes Due to ‘Climate Anxiety,’ Doesn’t Mention 7% Interest Rate.

When you have shit for brains you spew shit. There's about to be a crash in the real estate market and it's probably going to take some banks down with it.

BTW the average mortgage rate for a 30 yr fixed is a tad over 8%.

 

[lovecraft68]

Left out the fact that houses aren't free and you need jobs to be able to buy one.