national debt...interest rates...real estate
Unless you have had your head in the sand, you know that we as a country have 2 choices...borrow more money or go out of business. Really.
When I lived in NYC there was a ticking clock that shows the national debt on the corner of 42nd and 6th Ave. I assume it is still there (as I rarely visit the city anymore).
So if the US does not raise the debt ceiling, and we all have to have a hoard of gold to buy groceries, what do you think will happen to interest rates? Welcome to the late 70's friends. I remember 18% rates on a home loan...and that was with great credit! 20% down was the rule, so only "rich" people owned a house, and if you had a big house you were really rich. I asked my Dad once if we were rich...he said "no...your Mother makes sure of that"...Jack has always been quick witted.
So if you are under contract, kudos to you. If you ever think you might want a house...do it soon. These days ARE going to pass and you will say...DT was right...I should have listened to him when I had the opportunity. Key word...OPPORTUNITY.
But renting is not a bad thing...pay off someone else's mortgage...they will appreciate it!
Think about it...best/DT
When I lived in NYC there was a ticking clock that shows the national debt on the corner of 42nd and 6th Ave. I assume it is still there (as I rarely visit the city anymore).
So if the US does not raise the debt ceiling, and we all have to have a hoard of gold to buy groceries, what do you think will happen to interest rates? Welcome to the late 70's friends. I remember 18% rates on a home loan...and that was with great credit! 20% down was the rule, so only "rich" people owned a house, and if you had a big house you were really rich. I asked my Dad once if we were rich...he said "no...your Mother makes sure of that"...Jack has always been quick witted.
So if you are under contract, kudos to you. If you ever think you might want a house...do it soon. These days ARE going to pass and you will say...DT was right...I should have listened to him when I had the opportunity. Key word...OPPORTUNITY.
But renting is not a bad thing...pay off someone else's mortgage...they will appreciate it!
Think about it...best/DT
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