Who has two thumbs and sitting pretty on 2.75% mortgage? This guy.
Oh, you are still screwed. When rates go up, people can't borrow as much money at the high rates. This crashes real estate values because demand plummets. Your home is going to be worth less.
It's great if you are living in the house and don't plan to sell, or plan to rent it out.
We've already seen prices come down by over 10k where I am. But the price of the house basically doubled in in the last 5 years since we bought it so losing 30 or 40k of that isn't going to hit as much. If rates would have stayed down, we'd be renting out this place by now, since rent in this neighborhood is double our mortgage. Even if we contracted out to a prop company, we'd bring in money if it rents 3/4 of the year was our calc...
But then rates started to rise, so we decided to hold fast. Glad we did, values are going to drop. I hope they fucking plummet again. I can hold out for another length of time like after 08 to 23. We'd buy a few rentals then.
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