(11-01-2018 08:04 AM)VA49er Wrote:  

(11-01-2018 07:42 AM)200yrs2late Wrote:  

(11-01-2018 07:35 AM)GrayBeard Wrote:  

(10-31-2018 03:25 PM)200yrs2late Wrote:  https://www.cnbc.com/2018/10/31/wages-an...DwQNjvO0RA

Outpacing inflation. Can we get the Fed to lighten up on the interest rate hikes now?

The rates will go up until it whacks the housing market.

Already happening. We are in the "sweet spot" right now where there are still more people who are wanting to buy a home before rates get prohibitively high than there are that already view the rates as prohibitive which is still driving demand a bit. Another half to three-quarter points will change that though.

Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  

(11-01-2018 07:42 AM)200yrs2late Wrote:  

(11-01-2018 07:35 AM)GrayBeard Wrote:  

(10-31-2018 03:25 PM)200yrs2late Wrote:  https://www.cnbc.com/2018/10/31/wages-an...DwQNjvO0RA

Outpacing inflation. Can we get the Fed to lighten up on the interest rate hikes now?

The rates will go up until it whacks the housing market.

Already happening. We are in the "sweet spot" right now where there are still more people who are wanting to buy a home before rates get prohibitively high than there are that already view the rates as prohibitive which is still driving demand a bit. Another half to three-quarter points will change that though.

Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh I get it. I don't even want to know what buying this year versus 2 years ago is actually costing me.

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  

(11-01-2018 07:42 AM)200yrs2late Wrote:  

(11-01-2018 07:35 AM)GrayBeard Wrote:  

(10-31-2018 03:25 PM)200yrs2late Wrote:  https://www.cnbc.com/2018/10/31/wages-an...DwQNjvO0RA

Outpacing inflation. Can we get the Fed to lighten up on the interest rate hikes now?

The rates will go up until it whacks the housing market.

Already happening. We are in the "sweet spot" right now where there are still more people who are wanting to buy a home before rates get prohibitively high than there are that already view the rates as prohibitive which is still driving demand a bit. Another half to three-quarter points will change that though.

Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  

(11-01-2018 07:42 AM)200yrs2late Wrote:  

(11-01-2018 07:35 AM)GrayBeard Wrote:  The rates will go up until it whacks the housing market.

Already happening. We are in the "sweet spot" right now where there are still more people who are wanting to buy a home before rates get prohibitively high than there are that already view the rates as prohibitive which is still driving demand a bit. Another half to three-quarter points will change that though.

Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  

(11-01-2018 07:42 AM)200yrs2late Wrote:  Already happening. We are in the "sweet spot" right now where there are still more people who are wanting to buy a home before rates get prohibitively high than there are that already view the rates as prohibitive which is still driving demand a bit. Another half to three-quarter points will change that though.

Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

Add that millennials are flocking to "high rent districts" and they are going to get a double whammy on both mortgage costs and rental prices. As more people don't buy, the rent costs will rise.

(11-01-2018 09:19 AM)GrayBeard Wrote:  

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

Add that millennials are flocking to "high rent districts" and they are going to get a double whammy on both mortgage costs and rental prices. As more people don't buy, the rent costs will rise.

I locked in a few years ago at 3.5 or 3.75, not sure which but it's low. My concern now is that I could sell my house right now at a really nice profit and walk away with a big chunk of change. But then what? My 2900 sq ft home in Atoka TN is valued at 269k, I paid 190k 14 years ago, and my mortgage including principle, interest and escrow is around 950 a month. There is no way I could find a comparable apartment or house to rent for anywhere near that low and I'm too old to consider another purchase. I may end up building a 1750 two bedroom cabin on my farm property and just move there and watch the deer and turkey play.

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  

(11-01-2018 07:42 AM)200yrs2late Wrote:  Already happening. We are in the "sweet spot" right now where there are still more people who are wanting to buy a home before rates get prohibitively high than there are that already view the rates as prohibitive which is still driving demand a bit. Another half to three-quarter points will change that though.

Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

They can balk all they like; however, they'll concede if they really want the home. I think we're seeing the same sort of rate shock thing with stock brokers. LOTs of current stock brokers have never seen a high rate environment and are freaking out each time a rate increase occurs, etc. I know it's all about perspective, but maybe telling these millennial buyers that 5% is fantastic and given them a little history lesson may make them face reality. I'm sure they'll still complain, but they do that anyway....

(11-01-2018 10:51 AM)TigerBlue4Ever Wrote:  

(11-01-2018 09:19 AM)GrayBeard Wrote:  

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

Add that millennials are flocking to "high rent districts" and they are going to get a double whammy on both mortgage costs and rental prices. As more people don't buy, the rent costs will rise.

I locked in a few years ago at 3.5 or 3.75, not sure which but it's low. My concern now is that I could sell my house right now at a really nice profit and walk away with a big chunk of change. But then what? My 2900 sq ft home in Atoka TN is valued at 269k, I paid 190k 14 years ago, and my mortgage including principle, interest and escrow is around 950 a month. There is no way I could find a comparable apartment or house to rent for anywhere near that low and I'm too old to consider another purchase. I may end up building a 1750 two bedroom cabin on my farm property and just move there and watch the deer and turkey play.

My 30 year is at 3.75%. Currently I'm struggling to decide whether to pay the mortgage off or use those funds to invest, etc. I know all my schooling tells me it's better to invest those funds if I can get better than 3.75% return; however, the mental happiness of NOT have a mortgage is very appealing as well.

People tend to vote with their stomachs. I have a feeling that the Dems. are in for a shock after the votes are in.

(11-01-2018 10:56 AM)VA49er Wrote:  

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

They can balk all they like; however, they'll concede if they really want the home. I think we're seeing the same sort of rate shock thing with stock brokers. LOTs of current stock brokers have never seen a high rate environment and are freaking out each time a rate increase occurs, etc. I know it's all about perspective, but maybe telling these millennial buyers that 5% is fantastic and given them a little history lesson may make them face reality. I'm sure they'll still complain, but they do that anyway....

They will eventually buy and more than likely end up paying more in 18 month for their stubbornness. Right now with the rates as low as they have been millennial first time buyers have been low-hanging fruit. They buy smallish (<2600sf) houses that are easy and quick to build and are easily swayed by a few techy inclusions. They'll become smarted and pickier when they come back, making the sale a little more tedious.

https://www.foxbusiness.com/economy/ihop...er-tax-cut

Cost of food at IHOP and Applebee's to probably come down next year as a result of tax cuts.

(11-01-2018 09:19 AM)GrayBeard Wrote:  

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  

(11-01-2018 08:04 AM)VA49er Wrote:  Rates are no where near prohibitively high. People are just used to unusually low rates so any uptick is seen as a disaster.

You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

Add that millennials are flocking to "high rent districts" and they are going to get a double whammy on both mortgage costs and rental prices. As more people don't buy, the rent costs will rise.

If rates go too high, we get a repeat of 2008, at least to some extent.

(11-01-2018 03:49 PM)200yrs2late Wrote:  https://www.foxbusiness.com/economy/ihop...er-tax-cut

Cost of food at IHOP and Applebee's to probably come down next year as a result of tax cuts.

Yuck!

(11-01-2018 03:49 PM)200yrs2late Wrote:  https://www.foxbusiness.com/economy/ihop...er-tax-cut

Cost of food at IHOP and Applebee's to probably come down next year as a result of tax cuts.

more pancakes for babs on the cheap next year...what a goofy biatch....

https://www.dailytelegraph.com.au/blogs/...b7be7f9345

Quote:Barbra Streisand is considering heading north if Tuesday's midterm elections favor the Republican party.

The outspoken Democrat Streisand, 76, told the New York Times that she is fervently hoping her party takes control of the House of Representatives. If the Republicans keep the House, she mulled drastic action.

Just like she did in 2016. Carry on, Babs:

"I’ve been thinking about, do I want to move to Canada? I don’t know," Streisand said, targeting President Donald Trump.

"I’m just so saddened by this thing happening to our country. It’s making me fat. I hear what he said now, and I have to go eat pancakes now, and pancakes are very fattening."

(11-01-2018 08:01 PM)stinkfist Wrote:  

(11-01-2018 03:49 PM)200yrs2late Wrote:  https://www.foxbusiness.com/economy/ihop...er-tax-cut

Cost of food at IHOP and Applebee's to probably come down next year as a result of tax cuts.

more pancakes for babs on the cheap next year...what a goofy biatch....

https://www.dailytelegraph.com.au/blogs/...b7be7f9345

Quote:Barbra Streisand is considering heading north if Tuesday's midterm elections favor the Republican party.

The outspoken Democrat Streisand, 76, told the New York Times that she is fervently hoping her party takes control of the House of Representatives. If the Republicans keep the House, she mulled drastic action.

Just like she did in 2016. Carry on, Babs:

"I’ve been thinking about, do I want to move to Canada? I don’t know," Streisand said, targeting President Donald Trump.

"I’m just so saddened by this thing happening to our country. It’s making me fat. I hear what he said now, and I have to go eat pancakes now, and pancakes are very fattening."

If you're that bad a loser, please leave. And you can go give a lot more of your income to the other country.

(11-01-2018 04:28 PM)bullet Wrote:  

(11-01-2018 09:19 AM)GrayBeard Wrote:  

(11-01-2018 08:58 AM)200yrs2late Wrote:  

(11-01-2018 08:29 AM)VA49er Wrote:  

(11-01-2018 08:12 AM)200yrs2late Wrote:  You would be surprised. Nearly every buyer walking through the door is concerned about rate increases. I'm just starting to build this month and knowing that it's costing me a 100-150 more per month in interest as opposed to if I had built this time last year is driving me crazy.

Oh, I don't disagree; however, that's just due to rates being artificially low for over a decade. Of course folks want to lock in at a lower rate. That never changes. My parents talk of 17% rates back in the day so a 30 year fixed rate around is fantastic.

I absolutely agree. Retirees remember the 30%+ rates, but younger buyers and especially millennial buyers that are comfortable being more demanding are having a hard time swallowing what is "higher" rates to them. We've had a few over the past months want us to drop our prices to make up for them paying more for their financing. Needless to say they did buy a house from us. I think millennials will seriously balk when rates approach 5.5-6%.

Add that millennials are flocking to "high rent districts" and they are going to get a double whammy on both mortgage costs and rental prices. As more people don't buy, the rent costs will rise.

If rates go too high, we get a repeat of 2008, at least to some extent.

Rates didn't cause 2008. We all know there were multiple other unrelated issues that contributed to the last rate crises. IMO, the FED has been VERY cautious in raising rates and past history has shown the fallacy in raising rates too fast, etc. It wasn't that long ago rates were in the 7% range, and that's still a great mortgage rate when put into proper perspective.

(11-01-2018 08:50 PM)bullet Wrote:  

(11-01-2018 08:01 PM)stinkfist Wrote:  

(11-01-2018 03:49 PM)200yrs2late Wrote:  https://www.foxbusiness.com/economy/ihop...er-tax-cut

Cost of food at IHOP and Applebee's to probably come down next year as a result of tax cuts.

more pancakes for babs on the cheap next year...what a goofy biatch....

https://www.dailytelegraph.com.au/blogs/...b7be7f9345

Quote:Barbra Streisand is considering heading north if Tuesday's midterm elections favor the Republican party.

The outspoken Democrat Streisand, 76, told the New York Times that she is fervently hoping her party takes control of the House of Representatives. If the Republicans keep the House, she mulled drastic action.

Just like she did in 2016. Carry on, Babs:

"I’ve been thinking about, do I want to move to Canada? I don’t know," Streisand said, targeting President Donald Trump.

"I’m just so saddened by this thing happening to our country. It’s making me fat. I hear what he said now, and I have to go eat pancakes now, and pancakes are very fattening."

If you're that bad a loser, please leave. And you can go give a lot more of your income to the other country.

lol, she isn't going anywhere. She's just whining like lots of folks do prior to an election. She knows that no matter who wins next week her bread is still buttered in the USA. And by the way, it's not politics that's making her fat.

Can one just up and just move to Canada? Or does Canada have a process that one must go through to legally immigrate?