Quote:
Originally Posted by Marine1974
Maybe you recall supply and demand ? When American oil drilling was restricted , oil prices shot up from $30 a barrel to $130 a barrel overnight.
Tell that to the people priced out of buying a home . 60 % of Americans can’t afford to purchase a home . The huge massive amount of national debt ,
printing of money and shutting off the spigot of American 🇺🇸 oil is driving inflation and interest rates higher . .
|
Historically interest rates are not high they were simply artificially low for a few years and are now back to where they were for decades. Buyers will have to get used to looking at lower priced homes if they can't afford a mortgage on the home they want. There are a lot of new pre-fab communities being constructed by smart builders where zoning allows them. Today's prefabs are quality homes with all the amenities and are quite affordable and the developers doing this found themselves a gold mine.