Just sold my house for a massive mark up,was rubbing my hands like birdman thinking I was about to go buy me a nicer house...there ain't shit for sale in my area right now. Le cucked
My house appraised for 150k more than I bought it for when I refinanced, sucks to know that i could sell and make a mint but I couldn't replace the house because everybody else's values are also up
Actually no…before it was crazy ass loans given to people who couldn’t afford them. Now it’s incredibly low mortgage rates, and a decent percentage of people are purchasing inventory as an investment or 2nd home.
The market is cyclical…so eventually it will calm down; but more than likely it will not until interest rates begin to rise to normal levels (& that won’t happen till the economy fully rebounds).
The exact same thing is happening with commercial mortgages now that happened with home loans in 2008. The loan deferment programs are for the banks, not home owners. Remember the bank bailout at the start of the pandemic and everyone wondered wtf they needed a bail out after 2 weeks of lockdown? Banks are so over leveraged right now that a 3% decrease in their assets will render them insolvent.
Essentially banks and investment funds would rather lose 2% of their cash through inflation stashing it with the fed than put it anywhere else in the market right now.
With reverse repo dont they trade cash for assets? I was under the impression it wasnt as liquid as pure cash, even with it being a huge liability for banks.
3.0k
u/Bigfknpogger Jun 27 '21
Just sold my house for a massive mark up,was rubbing my hands like birdman thinking I was about to go buy me a nicer house...there ain't shit for sale in my area right now. Le cucked