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Byzantine 2y ago

we will see how long this type of craziness can continue

3 years ago: average 30-yr mortgage rate was 3.15% and average new home price in the US was $370k. ($74k down payment)

Now: 30-yr mortgage rate averages is 6.5% & average new home price is $500k. ($100k down payment)

and monthly payments have doubled from from $1,270 to $2,550

🪖

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freecritter 2y ago

Seems sustainable 🧐🤷🤣

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LukeoftheOzarks 2y ago

The car market is trying to work its way out of a somewhat similar cycle. I don't understand why a lot of dealers are holding on to cars waiting for top dollar when it seems almost certain they're going to be left holding the bag with a lot full of inventory they won't be able to move at a profit.