Home prices fall big time in NJ (real estate market, buying a house)

[wileynj]

Originally Posted by Delphi

Let me give you another math. 500K @ 5.5% vs. 350K @ 7.0%. Do the math... (and you have the probability of refi at lower rates.)

1980 and 2008 are very different from global business point of view. Now no longer Feb controls global rates. Do they? Rates are influenced more by global business factors than ever. Look at LIBOR.

we can play this game all day.... I was just showing a "realistic" example based on current events. 500 to 350 is a bit exaggerated...500 down to 450 with a 3% jump up in the interest rate isn't too far fetch.

[wileynj]

Originally Posted by EEEPNJ

Of course we have to hope there are still JOBS in the US in the future!

There will be jobs for those who don't mind getting their hands dirty . It's the techies who will suffer... losing jobs to foreigners who will do the same job for less!

[Delphi]

Originally Posted by wileynj

we can play this game all day.... I was just showing a "realistic" example based on current events. 500 to 350 is a bit exaggerated...500 down to 450 with a 3% jump up in the interest rate isn't too far fetch.

3% int rate jump is a big step. Business transaction volume will come down by ~30% and banks will be starving.

[wileynj]

Originally Posted by Delphi

3% int rate jump is a big step. Business transaction volume will come down by ~30% and banks will be starving.

wait and see.... I'm willing to bet on it

[Delphi]

Originally Posted by wileynj

There will be jobs for those who don't mind getting their hands dirty . It's the techies who will suffer... losing jobs to foreigners who will do the same job for less!

There will be some pain and jobs drain. And eventually, things will come to equilibrium.

It's the techies, it's the pharma, it's the fin analysts, it's doctors, it's the layers, every sector will feel the pain, to different degree, until it settles.

[wileynj]

Originally Posted by Delphi

There will be some pain and jobs drain. And eventually, things will come to equilibrium.

It's the techies, it's the pharma, it's the fin analysts, it's doctors, it's the layers, every sector will feel the pain, to different degree, until it settles.

I hope you're right! In my business, we are typically the last to feel the pain and first to feel the relief. No relief yet.

[Delphi]

Originally Posted by wileynj

wait and see.... I'm willing to bet on it

Sure. I am too. Look at Japan. Where is int rate? Even with 0% int rate, they are suffering and you think we will not with higher int rate? Why is UK cutting int rate? Why is EU cutting? I don't think we will see turn around soon.

[EEEPNJ]

Originally Posted by wileynj

There will be jobs for those who don't mind getting their hands dirty . It's the techies who will suffer... losing jobs to foreigners who will do the same job for less!

Not if we don't stop illegal immigration!

[wileynj]

Originally Posted by EEEPNJ

Not if we don't stop illegal immigration!

Oh no..most of them (south Americans) take the really, really dirty jobs and they can have them! For the most part, they actually help us out by keeping the cost of some things down for us middle class people. They are, in my opinion, the solution to fighting off the China's cheap labor = cheaper products made outside of America for Walmart . If we can compete here... making low end products in America for American consumers to purchase... I'm all for it!

[Calico696]

You can get a McMansion by me for under $400k.