A 50 year mortgage..

[AKIron]

If we don't stop spending the future and start paying down our debt hyper inflation is inevitable.

[Eagler]

High interest rates drive up payments and put that money in the banks.

which forces lower prices..or would if ever given the chance..

Eagler

[AKIron]

It's not like there's a lot of houses sitting around empty, waiting for a buyer. People aren't going to sell for less than they paid and developers aren't going to develop if they can't make a profit.

[CptTrips]

People aren't going to sell for less than they paid

That's like saying no one will ever lose money in the stock market because they just won't sell their stock for less than they paid for it.

We'll see.

[AKIron]

I don't want to make this political but after Russia went communist Stalin felt obligated to provide housing and did. Often multiple families to an apartment. This is what some are asking for here though they imagine they'll get a big house with a pool to themselves.

[AKIron]

That's like saying no one will ever lose money in the stock market because they just won't sell their stock for less than they paid for it.

We'll see.

There is a big difference between stocks and your home. Stocks serve no purpose other than to secure and advance your dough. You need a home to bake your dough.

[Meatwad]

It's not like there's a lot of houses sitting around empty, waiting for a buyer. People aren't going to sell for less than they paid and developers aren't going to develop if they can't make a profit.

The ones that are you have to worry if a squatter will invade it then accidentally burn it down when they set a fire inside the garage to keep warm, or the drug addicts breaking in stealing the copper

[Shuffler]

It's not like there's a lot of houses sitting around empty, waiting for a buyer. People aren't going to sell for less than they paid and developers aren't going to develop if they can't make a profit.

They are building houses as fast as they can here in Texas.

[AKIron]

They are building houses as fast as they can here in Texas.

I live in Texas. Texoma area. This area is growing fast but a lot of the single family developments only recently restarted after sitting dormant for a couple of years.

[Captain Virgil Hilts]

which forces lower prices..or would if ever given the chance..

Eagler

False. We had three years of insane interest rates, and still the price of houses went up.

High interest rates keep actual buyers out of the market, and bring speculators in. To the point where speculators make offers on houses not even on the market.

High interest rates merely punish the general public, making houses unaffordable, and killing employment by stunting markets.

Seriously, a central bank artificially altering interest rates is just more government interference in the economy.

If you seriously want the economy to have an actual reset, and be corrected, you want the government OUT of the market.

[fd ski]

I don't want to make this political but after Russia went communist Stalin felt obligated to provide housing and did. Often multiple families to an apartment. This is what some are asking for here though they imagine they'll get a big house with a pool to themselves.

Stalin had to build that housing because he wanted to industrialize country that was 95% peasant. If you move 10s of millions of people into cities, you need to put them somewhere, hence all that crappy commie building, 10 families to a flat and such. As time passed, they build toejamload of those concrete apartments and most families would end up with their own 50 m2 by time 80s rolled around. I know, i lived in one of them.

Either way, it has nothing to do with discussion on mortages or house prices. There was no house market in communism. You "recieved" an apartment from the government once you got though the "waiting list". There was no mortages, loans or secondary market. Way to move up on the list was to know right people, be from right party, greese the right wheels or suck up to the right aparatcnik.

It has no comparison to current US market...however.... you're going that way pretty fast so who knows, maybe you'll get to live it too...
Recent annoucement from Dell about his "dear leader" accounts for the children is weirdly familiar, i'm betting that house loan forgiveness will be coming once government starts taking over the house debt from the corporations....  corporation gets rid of a risk, bonus is paid, party boss can annul the loan, loyalty is build, population pays the bill. Like i said, win - win. Get your kneepads ready.

[Eagler]

I have the same feeling fd ski...

The young dumb and lazy want everything handed to them and will vote in whoever promises the most...

When the US government isn't any better than the average BRICS crap hole where will be the incentive to stick around..

Eagler

[AKIron]

Young people are angry they can't walk out of college with their useless but expensive degrees and buy a nice house. They want the government to do something about it. I think what the Soviet Union did is a good example of what can happen to them if they keep pushing for it.