Quote:
Originally Posted by justjim
Rates are relative high compared to the house payment because of inflated home cost and interest rates. Example: In general a few years ago, you could buy a new designer home in TV for 250 at 3% (or lower)interest rate. We pulled the trigger on a couple homes then. Same approximate home today 500 at 6% (or higher) interest rate. Do the math! Lots are also smaller landscape is less and the Bond is much higher in the new Villages south of 44. Arguably the “value” is less today IMHO.
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Rates are relatively high compared to the money dump into the housing system rates that occurred when a huge recession developed. I know the math and the fact that people now want free money for loans, (that's what I consider interest rates at 3% and under), for their mortgages is a joke. At those rates, people with savings should pull all their money out of their accounts and go have a field day because after income tax time, you're not coming out ahead. If you were able to buy a couple of homes, a break in interest rates is definitely not what we need. Why do you think inflation hit us so hard!