Quote:
Originally Posted by Lanny_McDonald
The only thing to do is exercise patience. Monetary policy takes time to impact the economy. Interest rates and the cooling of the market are driving prices down. The market is shifting and prices are dropping. The downside is you're likely going to have to pay a higher interest rate to access money, but once you own the home you're looking for, you'll then be able to take advantage of refis when rates begin to adjust back down. The Fed recognizes that high interest rates slow the economy, so they use rate hikes somewhat judiciously. Save your money now and prepare for those prices to come down. Until then, accept that the current situation is reparative to the blunders made while "the business man" was in office.
I do think it's hilarious that YoYo thanked your post when you acknowledged that a government program to control rents and limit escalation of rents is keeping things affordable for you. Regulation works!
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Such reassuring advice. The fact is you have no clue how this will play out and anyone who can’t see how bad Biden has been for the economy is clueless.
You sound like JT still blaming Harper.
I thanked him for his candid story and added you to my ignore list.