Mortgage rates soar over 7%

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  • čas přidán 25. 04. 2024
  • ABC News’ business correspondent Alexis Christoforous breaks down the current housing market.
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Komentáře • 99

  • @mirandamillsivy
    @mirandamillsivy Před 9 dny +32

    They raise interest rates, but then continue their obscene overspending and money printing. Such a mess

    • @stevenorris1
      @stevenorris1 Před 9 dny +1

      They stopped printing money when they started hiking interest rates. That's the literal meaning of quantitative tightening.

    • @michealpnoel
      @michealpnoel Před 9 dny

      yes, my point being why go through this process if you will continue overspending and devaluing the dollar either way. It’s a mess, we wouldn’t be in this spot if our government could run a budget. On a personal note I've worked closely with my advisor to grow my portfolio from $200k to $4.8 million through stock trading because as a businessman, I prefer to invest my money rather than let it sit idle and lose value over time due to inflation.

    • @eabhaconnor2
      @eabhaconnor2 Před 9 dny

      Despite the ups and downs in the stock market, you've managed to turn your investments into good profits. Could you share the name of your advisor? I have $300k saved up and ready to invest. Letting money sit idle isn’t my style as well, I’d rather put it to work and keep it growing.

    • @michealpnoel
      @michealpnoel Před 9 dny +3

      She is well known as - Chasity George Charles. please do your own research.

    • @eabhaconnor2
      @eabhaconnor2 Před 9 dny

      I am on the look out for experts and after doing my research online will say she meets my requirements, Thank you for sharing with us. I already sent her a mail hoping she can make out time in her busy schedule to assist me.

  • @Ali-uf5du
    @Ali-uf5du Před 11 dny +14

    This price is the problem, not the mortgage rates.

  • @casey896
    @casey896 Před 12 dny +26

    …..And I was complaining about 3.625% back when I purchased. Guess I should quit my whining.

  • @terrodar19
    @terrodar19 Před 12 dny +27

    has anyone heard this administration say ‘build back better’ lately???

    • @JohnSmith-xu7ev
      @JohnSmith-xu7ev Před 11 dny +1

      With their billion dollar infrastructure bill, that only used 10% for infrastructure

  • @AlexZ-lc6nl
    @AlexZ-lc6nl Před 11 dny +12

    At 7% prices should drop…OR at least level out. However, they keep rising….now why would anyone buy a 900K sardine house at 7%….waiting for the price to go down.

    • @bobwoods1302
      @bobwoods1302 Před 11 dny

      Still better than pissing money away every month on rent.

    • @Fatboylo1980
      @Fatboylo1980 Před 11 dny +2

      There is an ass for every seat that’s why. It’s amazing how people are in such a hurry to spend a lifetime of work on a home that’s 30-40% overpriced. The bottom is going to fall out, not of matter of if but when. Unsustainable

    • @ivecadit
      @ivecadit Před 11 dny +1

      It's not that the houses are overpriced, it's that the dollar is being debased. Prices are not coming down. If you are ever going to buy, buy now. You can always refinance in the future but you can't lower your purchase price in the future.

    • @bobwoods1302
      @bobwoods1302 Před 11 dny +1

      @@Fatboylo1980 $400,000 is actually not that bad. Here in Toronto the average detached home price is over a million USD. For a half decent new 1 bedroom 800 sqft condo your looking at about $400 000 USD. So trust me. It can go a lot higher.

    • @oshynclair7592
      @oshynclair7592 Před 6 dny

      ​@bobwoods1302 Depends on who you're asking

  • @sakurakos88
    @sakurakos88 Před 10 dny +3

    Buying a house? Not gonna happen, I am 35 yo and lost hope. Went to college, got a nursing degree. Fucked up world.

  • @83dsvhtubb
    @83dsvhtubb Před 11 dny +3

    The problem is housing inventory. The government makes it difficult to build more homes. Fewer homes means increased property tax. The system is broken

  • @bobwoods1302
    @bobwoods1302 Před 11 dny +4

    Still peanuts compared to the eighties 21% mortgages

    • @chainsawdodge834
      @chainsawdodge834 Před 11 dny +8

      Houses didn't cost $400,000 back then though even when adjusted for inflation.

    • @bobwoods1302
      @bobwoods1302 Před 11 dny +2

      @@chainsawdodge834 Sure they did. At least in major cities. Maybe not out in the sticks

    • @dthrust9037
      @dthrust9037 Před 7 dny +1

      @@bobwoods1302no they didn’t in the 80s you could make 45,000 and be middle class name me a place where that’s a thing now?

    • @bobwoods1302
      @bobwoods1302 Před 7 dny

      @@dthrust9037 $45 000 USD in the 80's would be more than middle class. The 80's had soaring crime rates, double digit inflation and mortgage rates around 20%.

    • @dthrust9037
      @dthrust9037 Před 7 dny

      @@bobwoods1302 you also have to understand that inflation today is counted different than how inflation was calculated during Reagan and jimmy carter era.
      During the 80s inflation included energy,food,and housing market.
      If core inflation included energy and even just rent inflation would be at least 15% since 2021 alone(2022 reached a high of 12% inflation without food and gas prices being included)

  • @Dieselpwr
    @Dieselpwr Před 11 dny +14

    The problem is the price of the home not the interest rate

    • @Lazerbadger2
      @Lazerbadger2 Před 11 dny +7

      No way, it’s both. My friends pay a lot more because their rate is so high

    • @Dieselpwr
      @Dieselpwr Před 11 dny +1

      @@Lazerbadger2 if you overpay for a home that’s on that person period.
      Regardless of the reason
      And when it crashes and it will I will not feel sorry for anyone and I don’t believe they should receive any kind of help especially from taxpayers that are not willing to overpay

  • @tomjerf
    @tomjerf Před 5 dny

    This price is the problem

  • @007SuperSoldier
    @007SuperSoldier Před 12 dny +2

    The FED thinks higher interest rates slows inflation by making loans more expensive. But, higher interest rates also inject free money into the system through interest income on securities. Not once has any "expert" on one of these shows presented data to prove that it leans one way or the other.

  • @Hot_Stank653
    @Hot_Stank653 Před 11 dny +2

    I can't wait for the FED to lower rates because I can't buy a home at 7% but 6.5% is totally fine :O

    • @JohnSmith-xu7ev
      @JohnSmith-xu7ev Před 11 dny

      Still too high, drop to 4%, the feds making the banks rich

  • @dr9gonkid20
    @dr9gonkid20 Před 12 dny +1

    Well stop it

  • @jimmyt5241
    @jimmyt5241 Před 6 dny

    We should lower rates to two and one percent to help our younger generation get their first homes wouldn’t that be a very caring thing to do for our hard-working Americans

  • @AI_Taylor
    @AI_Taylor Před 11 dny +5

    I’m glad I already got a house paid off

  • @CourtneyDines
    @CourtneyDines Před 12 dny +2

    Bet you it's not that much for migrants

  • @Gargoyle3438
    @Gargoyle3438 Před 12 dny +1

    Keep pretending prices haven't risen on everything every single year (the only way this system can work) just as they have been for the last few hundred years and complain about the cost of things (that can only rise) which is exactly how it works.

  • @user-mn3ez2kl3v
    @user-mn3ez2kl3v Před 12 dny

    Those 2021 rates if you could have snatched a home that year. Private Equities been taking them all.

    • @jesse_-
      @jesse_- Před 12 dny

      I bought my home in 2021 and got 2.25% for 30 years.

  • @ronlokk
    @ronlokk Před 12 dny

    Why is housing always the FEDs whipping boy?

  • @TomZart
    @TomZart Před 12 dny +4

    AMERICAN’S HOUSING & CURRENT STRESS = 2024 $$$
    We're a nation of frazzled families
    With little time for personal affection.
    As the treadmills of tension keep us hostage
    We're losing our perspective of direction.
    Racing to get the kids off to school,
    Navigating the madness of bottleneck traffic.
    Fearful of our own job-loss and income,
    While the newscasts get more hopeless and graphic.
    Helping our children with their homework
    Scrambling to prepare their dinner.
    Having family spats with loved ones
    And being told on Sunday, we're a sinner.
    Worrying about crime, taxes, housing and terrorism
    Infectious disease and paying next month’s bills.
    Saving for college and our own retirement
    It's no wonder we drink, smoke, pray and pop pills.
    By Tom Zart!

  • @MoneyMan28
    @MoneyMan28 Před 12 dny +1

    One child policy

  • @LivingWithGout
    @LivingWithGout Před 12 dny

    The tsunami of U.S. treasuries and agency debts.

  • @hana_moon
    @hana_moon Před 11 dny

    don't worry people will still buy them

  • @Dieselpwr
    @Dieselpwr Před 11 dny

    Grab the marshmallows

  • @jamesvincent414
    @jamesvincent414 Před 11 dny +1

    Bidenomics is working 😂

  • @xavierbelen5493
    @xavierbelen5493 Před 8 dny

    Inflation >corporational greed if u payed 5 $ during covid why would i sell it to you for 3 now lol when we can work n have jobs lol

  • @JohnSmith-xu7ev
    @JohnSmith-xu7ev Před 11 dny +3

    No comment that this happened during Bidens watch?

  • @cheldosarmiento2733
    @cheldosarmiento2733 Před 11 dny +1

    April 2021 the rates were not 2.98 😂. When covid hit it went through the roof

  • @danielszymanski-jw5kq
    @danielszymanski-jw5kq Před 12 dny

    Lmao interest rates in 1980 was 12 percent

    • @AlexR_44
      @AlexR_44 Před 11 dny +4

      Ok. But gas was cheaper than water is now.
      Houses were affordable, nay, CHEAP!
      No Internet meant you weren't competing against nearly as many people for a job.
      Companies still did pensions and retirement plans.
      Many things were still made in the US and if you bought something, you didn't have to buy it again in 5 years. (Appliances, clothes, and more)
      Driving with an open container was still ok in most states.
      Cars were cheap too, and maintaining or fixing one was something you could do at home without buying thousands of $$ worth of scan tools.
      You could buy your house from a catalog and build it yourself. People today can't even get decent quality lumber.
      Oh yeah, healthcare was WAY more affordable then.
      I'm sure there's more.
      But, hey, you just sit there and L your A O while judging people who don't think some sticks and wires on dirt you have to pay taxes on forever, should be worth their entire working time of their life.

    • @danielszymanski-jw5kq
      @danielszymanski-jw5kq Před 11 dny

      @AlexR_44 🤣🤣🤣🤣 lmfao 🤣 minimum wage was 3.10 ! Every thing is comparable! Lmfao oh well have it so bad ! Lmao life is never easy! Make yourself worth more and you'll have bo problem

    • @AlexR_44
      @AlexR_44 Před 11 dny +2

      @@danielszymanski-jw5kq Dude, I'm worth plenty, but I have empathy.
      Nobody asked what the minimum wage was, I don't know why you think that's relevant. Every "thing" is not comparable, that is the point. Ugh. I'm done with trying to open your eyes, I didn't realize how closed they are.

  • @universalservicetechust3578

    Bidenomics

  • @shellywhite2145
    @shellywhite2145 Před 12 dny

    What are the best additions to a $500k portfolio to boost performance? ETH is Up and will do better, I believe as indicators for profits continue to improve. investors like me believe that “Santa has come early” to the markets

    • @shellywhite2145
      @shellywhite2145 Před 12 dny

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    • @shellywhite2145
      @shellywhite2145 Před 12 dny

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  • @asmodeus8848
    @asmodeus8848 Před 12 dny +10

    Vote biden
    Find out

    • @jesse_-
      @jesse_- Před 12 dny +4

      FJB

    • @casey896
      @casey896 Před 12 dny +1

      Make the middle class homeless, increase inflation, increase cost of living, decrease the quality of life, yep! I’ll be voting for sleepy joe for sure. He’s done a great job as prez…

    • @Grandcathedral
      @Grandcathedral Před 12 dny +2

      He is 🦆 ing all of us

    • @danielszymanski-jw5kq
      @danielszymanski-jw5kq Před 12 dny

      😂😂😂😂😂 no more wars

  • @jose09841
    @jose09841 Před 12 dny +1

    My interest rate is 7% and I am comfortable with my payment, I don't expect rates to drop and have accepted the fact that we will NEVER again see 2% or 3% rates! Get used to the new normal of 7-8% rates.

    • @pberPSR
      @pberPSR Před 12 dny +1

      there is always boom and bust

    • @jesse_-
      @jesse_- Před 12 dny +1

      If I had to buy my house at 7%, I could t afford the payment. My payment would be $1900 more per month than I pay now. I would t be able to save much money.

    • @poppystars9005
      @poppystars9005 Před 12 dny +2

      That means you purchased recently, so you got hosed on the price and have the highest rate in 15 years. Cheers mate you are the worst financial wizard on CZcams.

    • @jose09841
      @jose09841 Před 12 dny

      @@poppystars9005 Well If I can afford 7% with no problems I am much better financially than most people plus my house has already gone up in value 50k in the past year!! So I have achieved the American Dream of owning a very nice home!

    • @JaneTheDoe-id2vx
      @JaneTheDoe-id2vx Před 11 dny

      @@poppystars9005people need a place to live either way, blowing the money away on rent doesn’t seem appealing

  • @Pilotpailie
    @Pilotpailie Před 12 dny +1

    Bidenomics…

    • @MDK2_Radio
      @MDK2_Radio Před 11 dny +1

      Fixing Trump’s mess is costly.

    • @Pilotpailie
      @Pilotpailie Před 11 dny

      @@MDK2_Radio Blaming it on the other guy stopped being believable two years ago.

  • @BenDover-ed4rm
    @BenDover-ed4rm Před 10 dny

    It's Bidenomics