We got an offer on our house $30,000 below asking.
After closing we will walk away with less money than our original down payment, let alone the year if equity and $20,000 in improvements and upgrades.
Apparently it’s the interest rate hitting 6% that’s the problem.
That is driven by inflation.
I realize thai I will never really own a house. My real estate experience will be one of value loss after value loss.
I want to go the way of Serbia and I want to go absolutely crimes against humanity with all 81 million Biden voters.
They decided getting rid of mean tweets was worth getting rid of all the equity in my house.
I don’t think that was a fair trade and I want vengeance.
Before you take action you cannot take back… consider most of the 81 million are children, who are incapable of understanding cause and effect, or any ability to even think ahead.
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However, there are a measurable percentage of the 81 million who are adult enough to understand there may be consequences of their actions. Those one, I can support your actions against.
Children? Is that the same as “he is insane, so he should get no punishment for murdering your mother?” No, when evil reaches this level, they have to pay for their evil, hard.
Concentrate on the rather sizeable percentage that knows and understands there are consequences of your actions first.
It is those that are evil. The useful idiots are not really the problem. The people stirring up the useful idiots are.
You might be surprised to see how many biden voters would never have voted for him if they were not completely and totally misinformed by the propaganda machine.
You want to go against the Biden voters? You can’t kill what’s already dead 😀
First off we need to prove that 81 mill ACTUALLY voted… I think it will be way less Then let me know and I will lend a hand.. making America great again will come down to We the People working in our community…
Oh, just wait until we get to the real downstream consequences of jacking up interest rates after all these years….
Remember that the national debt gets refinanced periodically, a little at a time, and that an alarming percentage of it is now in short-term bonds that get refinanced annually. Bond yields go up, investment in private-sector securities (like, stocks) goes down – so, money shifts from funding Industry to funding Government -, and the interest on the national debt suddenly becomes a big deal.
Expect further rounds of money-printing to “retire” the debt, or just to keep up with the interest payments. It’s not quite the classic, Weimar-style hyperinflation mechanism, but suddenly Carboniferous Monetary Theory won’t be looking all that smart.
Trillion-dollar platinum coin, here we come!
On further reflection….
I’ve noticed over the years that monetary policy, or at least U.S. monetary policy, actually has very little of the expected/intended effect, at least in the short term. Hasty fiddling with the prime rate to try to fine-tune inflation has not, historically, been notably effective.
I’m developing a suspicion that there’s a sizable time lag between prime-rate tinkering and the actual effects on the economy. I believe there are several phrases to describe the consequences of this, in fields other than economics. Pilot-induced oscillation, anyone?