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Old 02-28-2021, 03:10 PM
 
Location: Coastal Connecticut
21,722 posts, read 28,048,669 times
Reputation: 6699

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Quote:
Originally Posted by CT_Yank View Post
2.5% 30 year for all with 5% down.
That isn't a bad thing. 3.5% down with FHA has been a thing forever. 2006 crisis was a lot worse, with no money down and variable rate mortgages.

 
Old 02-28-2021, 03:30 PM
 
Location: USA
6,873 posts, read 3,726,277 times
Reputation: 3494
Quote:
Originally Posted by CT_Yank View Post
Problem is that it is not just suburbs. Vegas median home pricing went to record high at 345k and rose 13% in 2020 alone.This is major Fed bubble, 401ks rising causing paper wealth syndrome and 2.5% 30 year for all with 5% down. It won't end well. Not in Vegas nor CT. People are overpayng like crazy

'Among the 20 largest metro areas nationwide, Las Vegas was the most overvalued, with Fitch estimating that home prices were overvalued by approximately 28%"
Nothing new. What goes up must come down. Law of averages. Typical cycles.
 
Old 02-28-2021, 03:43 PM
 
3,435 posts, read 3,941,124 times
Reputation: 1763
Just wait until the second half of this year. Roaring 20's, here we come.
 
Old 02-28-2021, 04:38 PM
 
570 posts, read 476,995 times
Reputation: 618
Quote:
Originally Posted by Mike 75 View Post
Just wait until the second half of this year. Roaring 20's, here we come.
I am sure mortgage brokers and real estate agents love that narrative. Don't ask logical questions, like why? Is unemployment low? GDP raging? Nope. Print, print print..
 
Old 02-28-2021, 05:26 PM
 
2,695 posts, read 3,487,187 times
Reputation: 1652
Quote:
Originally Posted by Mike 75 View Post
Just wait until the second half of this year. Roaring 20's, here we come.
Which part of the roaring 20’s? Lol
 
Old 02-28-2021, 05:36 PM
 
Location: USA
6,873 posts, read 3,726,277 times
Reputation: 3494
Quote:
Originally Posted by Mike 75 View Post
Just wait until the second half of this year. Roaring 20's, here we come.
Followed by the Great Depression of the 30's. CT Yank has us there by summer
 
Old 02-28-2021, 05:43 PM
 
208 posts, read 113,763 times
Reputation: 348
Quote:
Originally Posted by Stylo View Post
That isn't a bad thing. 3.5% down with FHA has been a thing forever. 2006 crisis was a lot worse, with no money down and variable rate mortgages.
So, our cable channel has some mortgage company offering low interest refi offers, but the kicker is that they promise you can take out 50K in cash. Smells like 2007.
 
Old 02-28-2021, 06:59 PM
 
Location: Connecticut
34,913 posts, read 56,893,272 times
Reputation: 11219
Quote:
Originally Posted by SteveM85 View Post
Followed by the Great Depression of the 30's. CT Yank has us there by summer
Not likely since the world and the financial industry is very different than it was in 1929. I won’t say it can’t happen, I just doubt it will be quite as severe. Jay
 
Old 02-28-2021, 07:58 PM
 
Location: Connecticut
537 posts, read 330,690 times
Reputation: 525
Quote:
Originally Posted by JayCT View Post
Not likely since the world and the financial industry is very different than it was in 1929. I won’t say it can’t happen, I just doubt it will be quite as severe. Jay
We are more likely to repeat the Weimar republic.
 
Old 02-28-2021, 11:00 PM
 
1,888 posts, read 1,183,050 times
Reputation: 1783
Who here could have predicted the RE market today just a year ago!?
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