Is this a good time to buy a home in south Nassau?
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I was referring to interest rates, wouldn't surprise me if we are at 8% for mortgages in 6 months, the FED has made it clear a lot more pain is coming. Prices overall will eventually drop nationwide effecting some areas more than others (and they are already a bit) like you said the question is how much.
Toxic financial ‘products’ & investments were at the heart of the most recent global financial imbroglio. The values of these products were often based on the values of thousands of underlying mortgage loans, which were pooled & sliced up into (tranches) of complex securities & other financial products.
Once homeowners started defaulting on the risky subprime mortgages that made up these pools, banks didn’t know how much the investments were worth, making it nearly impossible to sell or trade them.
Not to mention the many other toxic financial products in vogue at the time, for example risky derivatives & credit-default swaps - these were insurance-like products that paid off when a company defaulted on its debt or a bond failed to produce expected returns.
It was a house of cards. We did not learn enough from that time, history rhymes, so too human nature.
I remember the housing crisis well, I’m pretty sure we passed some laws so the investment bankers couldn’t do shady things.
Also They decided not to buy anything right now and just concentrate on saving money, buts it’s really hard for them, anyway thank You everyone for your responses
Also They decided not to buy anything right now and just concentrate on saving money, buts it’s really hard for them, anyway thank You everyone for your responses
That is the best thing to do. Something always comes up unexpectedly in homeownership, so if they can't save, they are better off renting. No sense in being house poor.
I remember the housing crisis well, I’m pretty sure we passed some laws so the investment bankers couldn’t do shady things.
I remain skeptical.
Senate passes deregulation bill scaling back Dodd-Frank <- 2018 piece
The Senate on Wednesday passed a milestone bank deregulation bill that would mark the biggest rollback of financial rules since the 2008 market meltdown.
Also They decided not to buy anything right now and just concentrate on saving money, buts it’s really hard for them, anyway thank You everyone for your responses
Agree it is a challenging time for many folks, & also agree they made a wise decision, best wishes to you & them.
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