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The housing market is about to take a hit as student loan payments restart

markets.businessinsider.com

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Re: The housing market is about to take a hit as student loan payments restart

#21

Post by vba616 »

hexo wrote: post #16
darth_avocado wrote: post #9

It’s so ridiculous that economists, policymakers and even the fed is so out of touch with the reality of the market. The housing market highs are a result of less supply and not high demand. 90% of mortgages are locked in under 3% rates which ensures the lack of supply will continue in this high interest market, and in some sense even make it worse. A very low percentage of people will be so stretched with student pa…

housing is NOT a market.

Could you give an example of something that is a market, unlike housing? And why?

Is a super market a market? Or a stock market ?

Re: The housing market is about to take a hit as student loan payments restart

#22

Post by armatav »

ethanbond wrote: post #17
sidewndr46 wrote: post #15

Earlier quoted context omitted.

90% of mortgages may be locked in under 3%, but no one who has payed off their home is going to sell that and wind up financing another house with interest rates where they are at.

Interest rates are not that high currently. Sheesh you give people a taste of 2.5% and they act like 7% is usury.

It’s literally usury.

Re: The housing market is about to take a hit as student loan payments restart

#23

Post by WalterBright »

hexo wrote: post #16
darth_avocado wrote: post #9

It’s so ridiculous that economists, policymakers and even the fed is so out of touch with the reality of the market. The housing market highs are a result of less supply and not high demand. 90% of mortgages are locked in under 3% rates which ensures the lack of supply will continue in this high interest market, and in some sense even make it worse. A very low percentage of people will be so stretched with student pa…

housing is NOT a market.

Of course it is. Anything that is bought and sold is a market.

Re: The housing market is about to take a hit as student loan payments restart

#24

Post by thatoneguy »

ethanbond wrote: post #17
sidewndr46 wrote: post #15

Earlier quoted context omitted.

90% of mortgages may be locked in under 3%, but no one who has payed off their home is going to sell that and wind up financing another house with interest rates where they are at.

Interest rates are not that high currently. Sheesh you give people a taste of 2.5% and they act like 7% is usury.

I can’t tell if you’re being sarcastic or not but the jump from 2.5% to today’s 8% doubles the monthly payment, so I can see why people complain about it.

Re: The housing market is about to take a hit as student loan payments restart

#25

Post by vba616 »

tmn wrote: post #19
throw9away6 wrote: post #3

People paying off student loans probably can’t afford houses anyway different demographics.

There are many doctors, lawyers, therapists, etc who are juggling mortgages or wanting to buy a house, and loan payments. Your point isn’t mute though

Or moot.

Re: The housing market is about to take a hit as student loan payments restart

#26

Post by gigatexal »

This headline could easily be anything: dog shelters brace for flood of new dogs as student loan payments resume. Oh wait it was a headline: https://www.usatoday.com/story/news/nation/2023/09/16/animal...

There are so many downstream issues from this that I honestly think that promising it and then not delivering will be a huge hurtle for the Biden campaign to win over this demographic again.

Re: The housing market is about to take a hit as student loan payments restart

#27

Post by czbond »

There are 2 paths for the upcoming generation to afford houses - as the prices are unsustainable. Let's see which group politicians choose to screw over:

- Older homeowners, who statistically have a majority of their wealth in their home

- Upcoming generations, whom if home prices do not drop - must have their wages inflated artificially significantly to afford the homes. Which then causes more inflation

Re: The housing market is about to take a hit as student loan payments restart

#28

Post by jowdones »

ffgjgf1 wrote: post #20
ethanbond wrote: post #17

Earlier quoted context omitted.

Interest rates are not that high currently. Sheesh you give people a taste of 2.5% and they act like 7% is usury.

Just like 7% inflation isn’t that bad because it could be a whole lot worse?

Look, a 10% interest rate isn't that much on a $10,000 personal loan. But that doesn't even buy you a new car today and for a measly apartment in a major city you gotta be prepared to spit in the vicinity of $1,000,000. This insanity has to stop, hence the high interest rates.

Re: The housing market is about to take a hit as student loan payments restart

#29

Post by polskibus »

czbond wrote: post #27

There are 2 paths for the upcoming generation to afford houses - as the prices are unsustainable. Let's see which group politicians choose to screw over: - Older homeowners, who statistically have a majority of their wealth in their home - Upcoming generations, whom if home prices do not drop - must have their wages inflated artificially significantly to afford the homes. Which then causes more inflation

They will choose to screw the upcoming generations. Because they are themselves homeowners and younger ones don’t want to vote at all, at least more often than the older. Also the older generation is larger than the young ones in most western countries.

Re: The housing market is about to take a hit as student loan payments restart

#30

Post by baggy_trough »

armatav wrote: post #22
ethanbond wrote: post #17

Earlier quoted context omitted.

Interest rates are not that high currently. Sheesh you give people a taste of 2.5% and they act like 7% is usury.

It’s literally usury.

What do you think usury is?
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