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> Next up: anyone who bought a house in the last few years is gonna get hurt. We knew rates would be rising, and hence prices falling. So far it's mostly sales
by jandrese 4y ago
> Next up: anyone who bought a house in the last few years is gonna get hurt. We knew rates would be rising, and hence prices falling. So far it's mostly sales volume dropping near zero, but soon...
People who bought a house as an investment might be in trouble, but people who bought a home to live in are making out like bandits with their 30 year fixed mortgages.
- debacle 4y agoIn a down economy, fewer people sell their houses, so housing prices haven't fallen as much as they would if interest rates were raised in a vacuum.
- blackoil 4y agoAlso people who bought house borrowing money from friend on promising to return it whenever asked for. This is what SVB did.