this post was submitted on 13 Sep 2023
632 points (86.7% liked)
Memes
45887 readers
1159 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Man, I’m a loan officer at a bank. I know a lot more about this than what you do. Interest rate increases are squeezing all levels to decrease spending across the board. Banks are beginning to cut back lending to businesses.
And demand for housing ebbs and flows. Things skyrocketed during Covid because of a lack of supply. There’s actually been decreases in pricing at this point.
You must be a few crayons short of a full box, you just admitted prices are decreasing, yet folks who buy a house today will effectively pay almost double on their monthly mortgage rate because of the increasing interest rates, which have nothing to do with housing demand and everything to do with fighting inflation, which was caused by keeping the rates at effectively zero to prop up Obama's bull economy that 45 ran into the ground.
A few thousand dollars of decrease doesn’t offset the doubling of prices that happened during Covid. You should consider asking for specifics instead of trying to do a witty insult.
Rates weren’t effectively zero prior to Covid. They were too low, yes, and should have been higher, but the bottom fell out during Covid.
Lol, does that look like the norm in the graph you posted?