Quote:
Originally Posted by Ulic Qel-Droma
well the last time real estate had a real drop was in the 80's during the crisis.
mortgage rates were 21%... people were dumping their properties fast.
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that's what makes this time around so interesting, and so uncomparable to any other time.
throughout our parents' lifetime, a time where buying and holding real estate made you a small sum of money, interest rates have been going down, from in the 20's % down to basically nothing... where can we go from here? rates cannot stay this low for much longer, as inflation is starting to become an issue, and to cool that we must raise rates... but on the flipside, whenever we had issues, was just easy to lower rates to promote borrowing and growth... no can do anymore. i really wonder what the powers that be will do when we next slow down???!
i have to say, right now is historically such a bad time to buy, i still can't believe people are so blind to it, but hey, not my concern when they lose their shirts and are stuck paying for a house, losing mobillity, freedom, and wealth... our parents really fucked us over on this one - things are WAY riskier at 3% interest than they ever were at 21% interest rates