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/biz/ - Business & Finance

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55860517 No.55860517 [Reply] [Original]

>8.32% is the current mortgage rate for a fixed 30 year mortgage if your credit score is 660 to 679. You will buy your home three times before you actually own it. Joe Biden tells us that he has tamed inflation but he won't tell us that he has made it impossible for most of us to buy our first home.

>When Trump was President inflation was about 1.5% annually and mortgage rates were very low. I bought a home during Trump's Presidency at a 2.375% mortgage rate. The interest on my mortgage is $258 each month. If I took out that loan today the interest on my mortgage would be $1108, an amount which is more than four times as much. My Mortgage was for $233,000.

>So, Joe Biden and the Fed tell us that they have tamed inflation by comparing the current annual rate of 3.2% to the rate a year ago when it was over 8%, but they won't tell us that it is double what the current rate of inflation was during the Trump Presidency, and they won't tell us that they have made it impossible for the vast majority of us to buy our first home.

>Biden was bragging today that Bidenomics is working, but the truth is that it is destroying the dream of home ownership and has condemned most of us to living paycheck to paycheck and both parents working, and many of us working two jobs.

>> No.55860519

Who the fuck are you quoting you shill bot

>> No.55860525
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55860525

>>55860519

What kind of automatic response is this?

>> No.55860911
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55860911

>>55860517
Were in a transition period. This is the best time to buy a house and wait it out. The value will keep going up and if interest goes back down, it will drive the value even higher.

>> No.55860935

>>55860517
Only live in a city if your income or career trajectory makes it worthwhile. There’s literally no point otherwise

>> No.55860941

>>55860911
House prices go up, but my portfolio goes up faster. So I'll just keep renting until I can buy a house cash.

>> No.55861280

>>55860517
At a certain point the scales tip in favor of paying cash. Why pay for the house three times over 30 years instead once in 8 years. Yea it'll be a grind saving and investing that much, but that's the cost of capital these days.

>> No.55861329
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55861329

Trump and Biden are two feet connected to the same dick.
The 1%.
They'll tell you to vote for a wild Republican candidate and say he's for the little guy lmao and you eat that shit up.
They'll tell you oh no, the wild Republican ride is over. It's back to normalcy and lmao you eat that shit up.
Throw a brick next election or shut up.

>> No.55862975
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55862975

>>55860517
these policies are completely fucking liberals, they're the ones losing property value and can't afford anything

you can still get a mortgage at 4.125% with 0% down through USDA if you don't live in a major metro area

>> No.55863535

>>55862975
Good luck selling when the time comes