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Shazam · 03-21-2018, 02:04 PM

My first house was $195K in 2002. Monthly payment: $880. Mind you, my first mortgage was extra-special so for parts of it I was paying 0.75% interest.

That same house is now $395K. Monthly payment: $1730

(down payment of $30K)

House prices are sticky (they're not fungible commodities trading on a liquid market) and housing demand is inelastic (people need shelter to not die) so rises in interest rates will not be enough to lower house prices materially.

03-21-2018, 02:04 PM	#113
Shazam Franchise Player Join Date: Aug 2005 Location: Memento Mori Exp:	My first house was $195K in 2002. Monthly payment: $880. Mind you, my first mortgage was extra-special so for parts of it I was paying 0.75% interest. That same house is now $395K. Monthly payment: $1730 (down payment of $30K) House prices are sticky (they're not fungible commodities trading on a liquid market) and housing demand is inelastic (people need shelter to not die) so rises in interest rates will not be enough to lower house prices materially. __________________ If you don't pass this sig to ten of your friends, you will become an Oilers fan. Last edited by Shazam; 03-21-2018 at 02:08 PM.