CNN: Bad news if you’re looking to buy a house in the next two years
America’s housing market has entered a new normal.
Mortgage rates will remain above 6% for the next two years.
After hitting a high near 8% last year, rates fell to around 6%.
Now these prices are creeping up again.
Most economists now say that, "We're not going back to lower mortgage rates. 6% is the new norm."
So, new home owners won't get any price relief, cutting off a vital part of the American Dream.
Mortgage rates are expected to still be around 6.1% - in 2026!
For now, home sales will see their worst years since 1995!!
A brief low in borrowing costs, came too late to help most home buyers.
tRump's misguided economic plans are already expected to shoot up the inflation rate...
That will keep interest rates high - prompting the Central Bank to hike up their own borrowing rates.
Rump is promising more tax cuts for the rich & he wants to saddle the working class with higher taxes to pay for those cuts...
He's also planning to spend so much federal monies that it'll raise up the deficit - making it impossible to ever pay off!!
In doing so, the Rapist Con Man is forcing the U.S. government to borrow more money from bond- holders.
Higher mortgage rates are driven by a strong economy - which prevent the Fed from cutting these rates.
In this September, the borrowing rate hit a 'low' of 6.08%.
Strong employment numbers & high retail spending caused bond yields to skyrocket!
But, this past week, low inflation caused another spike in bond yields.
With tRump wanting to pass more tariffs, the bond market has shown a 'corrosive effect' on prices.
His mass deportation scheme will also hurt us.
He's getting rid of workers who help pay our high taxes - even though they don't get any benefits out of it!
All that lost revenue has to be made up from some- where - that's why workers' taxes are going up so much!!
The rich won't pay any of these taxes.
It's all on the backs of the middle class...
(Great choice in president, you dumb rumps!)
The Great Deportation will also grow our inflation, which will raise prices on goods once again.
(Gosh! If there was someone who promised to help people buy new homes, lower the prices of every- day goods & who wouldn't hike up our taxes?
Oh, wait.
There was another choice.
We just stupidly voted for the wrong nominee!!)
Billionaire investor P.T. Jones says, "A swelling national debt will make us all broke really quickly! I'm not going to own any fixed interest."
Folk who got bigger homes during the pandemic, now worry that their kids won't be able to afford any home!!
But, a strong economy can help overcome some of these problems.
The job market, for example, is seeing some wage growth & steady paychecks can deal with high prices - on occasion.
Today, most Americans prefer not to sell their 'old' homes.
This allows them to 'enjoy' their low interest rates a little while longer.
N.A.R.'s Yun says, "If people accept 6% - or more! - then job gains & more house inventories would boost home sales."
If WE accept...
End?
