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12 hours ago, Archy1221 said:

Saying the quiet part out loud.  Though people still wonder why rhetoric and policy matters.  
 

 

 

You are aware that Oil and Gas companies have stated - many times - that they would lose money expanding operations, yes? You know it's a joke when the first complaint was "canceling keystone XL", a project that wouldn't be completed for a decade and that doesn't even add new oil or refinery capacities.

 

Furthermore, do you think Europeans, who pay much higher prices, are blaming Joe Biden? OR do you think the factors pushing up prices in Europe?

 

For the love of God, please don't vote. The last time you elected a guy, we got "inject bleach" cheeto man. I mean, let's pretend for a nanosecond that you're correct - which in this universe and in nearly all versions of any scientifically plausible multiverse you are not - are gas prices as bad as election denial and your parties assault on Democracy?

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21 minutes ago, Dr. Strangelove said:

You are aware that Oil and Gas companies have stated - many times - that they would lose money expanding operations, yes? You know it's a joke when the first complaint was "canceling keystone XL", a project that wouldn't be completed for a decade and that doesn't even add new oil or refinery capacities.

 

Furthermore, do you think Europeans, who pay much higher prices, are blaming Joe Biden? OR do you think the factors pushing up prices in Europe?

 

For the love of God, please don't vote. The last time you elected a guy, we got "inject bleach" cheeto man. I mean, let's pretend for a nanosecond that you're correct - which in this universe and in nearly all versions of any scientifically plausible multiverse you are not - are gas prices as bad as election denial and your parties assault on Democracy?

Yeah....it was basically a bunch of party propaganda.

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1 minute ago, teachercd said:

I am not the only one capable of disliking high gas prices AND disliiking people that believe in election fraud, am I.

 

I mean, if my tiny brain can dislike both there has to be more of us, right?

 

Are you back on the...."you guys actually like high gas prices?" kick again?

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2 hours ago, teachercd said:

I am not the only one capable of disliking high gas prices AND disliiking people that believe in election fraud, am I.

 

I mean, if my tiny brain can dislike both there has to be more of us, right?

 

One is cyclical and happens over time and isn't a political choice. The other is a dangerous political decision which will have long lasting effects on our democracy. 

 

Let's not act like these are equal or even remotely close to it. 

 

1 hour ago, Archy1221 said:

Sanity starting to kick in (with help from the rate hikes)

 

 

This is going to be the case for a long time. Most people refinanced to a rate in the high 2% or low 3% range over the pandemic. People aren't going to be eager to trade those rates in for a more expensive house at a higher rate.

 

House inventory is going to remain low for a awhile- with millennial workers entering their prime earning years, house prices should continue to climb for quite some time.

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4 minutes ago, Dr. Strangelove said:

House inventory is going to remain low for a awhile- with millennial workers entering their prime earning years, house prices should continue to climb for quite some time.

Not sure about that.  My hope is the stabilize for a while and not come down sharply putting people in an upside down position.  Coming down a little would help.  Coming down sharply would be bad.

 

But, there are a ton of houses being built or planning to be built right now.  If existing home owners don't trade up because of interest rates, that leaves first time home buyers to prop up the market and buy those homes.  If interest rates scare them off, they will rent instead of buy for a while.

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3 minutes ago, BigRedBuster said:

Not sure about that.  My hope is the stabilize for a while and not come down sharply putting people in an upside down position.  Coming down a little would help.  Coming down sharply would be bad.

 

But, there are a ton of houses being built or planning to be built right now.  If existing home owners don't trade up because of interest rates, that leaves first time home buyers to prop up the market and buy those homes.  If interest rates scare them off, they will rent instead of buy for a while.

Certainly possible, but I think that the amount they're building may not keep up with demand. House prices may drop in the short term, but I'm guessing the growth through 2035 with be substantial. 

 

I say this because America produces around 2 million households that earn over $100k per year and only builds 1.3-1.4 million houses. Now, some of those earners already have a cheaper house and they aren't evenly distributed across the country. But that sort of imbalance is likely to keep prices elevated.

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1 minute ago, BigRedBuster said:

Not sure about that.  My hope is the stabilize for a while and not come down sharply putting people in an upside down position.  Coming down a little would help.  Coming down sharply would be bad.

 

But, there are a ton of houses being built or planning to be built right now.  If existing home owners don't trade up because of interest rates, that leaves first time home buyers to prop up the market and buy those homes.  If interest rates scare them off, they will rent instead of buy for a while.

 

And I would surmise a lot of first time home buyers are not in a good position to buy right now anyway, financially. The inflation isn't helping. Many Millennials just don't have the funds after paying basic living expenses to even be able to consider buying.

 

We got very lucky and closed on a very nice home last year and got a good deal following the inspection which revealed a minor foundation issues affecting only a small addition which was going to require addressing. However given that, the house we got and the land, detached garage and small semi-furnished shed that came with it were all fantastic given what we wound up getting them for.

 

I often reflect on how thankful I am because we were looking at other homes that were either nowhere near as nice, needed lots more work, had a much more competitive bidding process or were just flat out out of our price range.

 

I've got a coworker who's getting ready to close and she's going through similar headaches. Even using a first-time homeowner mortgage program, they've had to wait a long time and are very stressed with the process. 

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