[Babubhat]

Bridge loan or home equity loan will tide one over until other house is sold. Done it twice. You may also be able to borrow against your investments portfolio

[Robnlaura]

Originally Posted by LoriAnn

No worries, things will change. I've seen this happen in The Villages before. People were panic buying homes sight unseen and paying more than asking price. Houses were flying off the market in hours! A subset of people were swearing it was NEVER going to end and The Villages was immune to normal real estate market corrections. The panic mongers were screaming that you better buy now or you will be priced out forever! You know what happened? It all changed! All of a sudden, there were 3-5% discounts on new construction. Re-sales were sitting on the market for months and sold for 10-15% below asking price. Hang in there. Things will change. Something will happen in the economy that will cause this market to cool and The Villages real estate will follow right along like it always does. I know it hard to wait and its easy to get caught up in the panic. Take some deep breaths, sit back and watch. It's coming....

100% correct we have all been down this road.. the economy is just not doing well. Inflation is at an all time high. Gas prices continue to rise. The perfect storm is coming and guess what houses are just not immune.. as they say in real estate 10 years up 10 years down.. we are heading to the down part..

[Dan9871]

Originally Posted by Robnlaura

Inflation is at an all time high. .

In the 1950's inflation got up to 20% and in the 1970's it almost hit 15%,

United States Inflation Rate | 1914-2021 Data | 2022-2023 Forecast | Calendar

[JMintzer]

Originally Posted by vintageogauge

Most of those that I know sold their homes after buying their new home in TV, I'm sure some will need to sell ahead of time but not all of them. Four years ago homes up north were selling easily, not at the prices they bring today but there was no problem selling them in a reasonable amount of time. Also TV have been selling 7 new homes and 7 re-sales on average for the last 3 years and only recently went up a little higher. This place is unique and there are still 10,000 boomers reaching retirement age every day and they only need a handful and I'm sure there are more then a handful that have the cash.

Never said there weren't...

We could have paid cash, but we chose to get a mortgage (which is less than what we're making on our investments in that money...)

Once we sell our home up North and move to TV on a more full time bases, we'll re-evaluate. Especially if we decide to buy a small place to keep up ere (where my kids still live...)

But I understand that we're luckier than most, in that we had that option...

[JMintzer]

Originally Posted by Robnlaura

100% correct we have all been down this road.. the economy is just not doing well. Inflation is at an all time high. Gas prices continue to rise. The perfect storm is coming and guess what houses are just not immune.. as they say in real estate 10 years up 10 years down.. we are heading to the down part..

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

[Becca9800]

Originally Posted by JMintzer

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

Those were the years we tried to buy our first home but w interest rates in the very high teens (I'm recalling 18%, can you imagine?), we were out of the buyer's market.

[Normal]

Originally Posted by JMintzer

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

High fossil fuel costs would kill any economy. They certainly do raise costs everywhere on almost everything across the board. In addition, continuing high prices on fossil fuels will solidify new price levels. Pray somehow the current administration finds a way to lower fuel costs. Without that key piece we will be placed on an economically parched projection for some time to come. Inflation will eat the poor and middle class alive.

[JMintzer]

Originally Posted by Normal

High fossil fuel costs would kill any economy. They certainly do raise costs everywhere on almost everything across the board. In addition, continuing high prices on fossil fuels will solidify new price levels. Pray somehow the current administration finds a way to lower fuel costs. Without that key piece we will be placed on an economically parched projection for some time to come. Inflation will eat the poor and middle class alive.

"Finds a way"?

Oh, I dunno'... Maybe roll back the new restrictions on Federal drilling leases, fracking, off-shore drilling that led us to be a net exporter of energy for the first time in forever...

[Becca9800]

Originally Posted by JMintzer

"Finds a way"?

Oh, I dunno'... Maybe roll back the new restrictions on Federal drilling leases, fracking, off-shore drilling that led us to be a net exporter of energy for the first time in forever...

DON'T forget the banned pipeline! I'm old enough to remember when gas was less than $2/gal. That was just a few short 8 months ago. No?

[manaboutown]

Jimmy Carter stagflation: I remember it well. 19% mortgage rates at one time

[manaboutown]

Originally Posted by manaboutown

Jimmy Carter stagflation: I remember it well. 19% mortgage rates at one time

When I first started driving in 1958 gas was 27 cents/gallon.

[Debfrommaine]

Originally Posted by manaboutown

Jimmy Carter stagflation: I remember it well. 19% mortgage rates at one time

Yes, and thrilled when we refinanced to 14%!

[Laker14]

Originally Posted by JMintzer

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

I remember it well...inflation rose during his Presidency from 5.22% to 11.83% at the end of his term, a rise of 127%!

What I had forgotten, probably because I was still in school and not trying to buy a home at the time, was Nixon's performance on inflation...over the term of his Presidency, inflation went from 4.4% to 10.66%, eclipsing Carter's dismal performance with a 147% increase during his tenure.

[Timothyimitchell]

Originally Posted by JMintzer

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

I was there. Not good. But, lots of things hidden today. The ONLY difference is the FED today Manipulates the entire market. Including INTEREST RATES.

[Tim C.]

Originally Posted by JMintzer

Inflation is "at an all time high"?

You must have missed the Carter years, when it hit 13.3%...

truth. Hit that in 1980

but it's at a modern high this quarter. the last time it was anywhere near this was 1990 when it hit about 5.5%. It's being forecasted now at 5.0%. 31 years is a long time