/biz/ - Business & Finance

>>58134595
Why would you pay off your mortgage early

>>57502906
there is a ZERO percent chance that prices go down 30%, the "crash" already happened in 2022 when the fed decided to hike rates

the fed is done hiking rates, sellers realized that they can just keep their 3% mortgages rather than sell for anything other than the peak price, and you have non-existent inventory

2023 prices are already up from 2022 lows, and the fed is going to start cutting this year

>>57501984
>unironically bragging about turning down cheap credit

>>56402702
>everyone

no, only zoomers

millennials are financed at 3%

gen X is mostly paid off, sitting on hundreds of thousands in equity

boomers are completely paid off, and simply swapping homes for cash

zoomers are the only people affected by the 8% rates

>>56163897
Inventory isn't coming back. People aren't going to give up their cheap mortgage payments. The median rate of people who hold a mortgage is 3.5%.

>>56143312
More than half of people with a mortgage have it financed under 3.5%, and cash is paying more than 5% right now. You also lose the mortgage interest deduction from your taxes.

Cash goes towards investments (crypto/stocks/bonds).

>>55777197
Housing isn't going anywhere. Vast majority of homeowners have their homes paid off or are sitting on sub-4% interest rates. They're not dumping their properties - inventory is the lowest in 15 years.

>>55564688
Because homeowners have cheap mortgages. They aren't going to give those up, and people aren't going to sell for less than they could have got 18 months ago.

>>55477650
People are sitting on low rates and aren't going to sell for less than they could have got 18 months ago when rates were low.

>>55352503
>refinance to a conventional

My favorite thing about renters is how stubbornly incorrect they are.

>>54625830