Comments by "worn down" (@worndown8280) on "10% MORTGAGE RATES / Foreclosures Coming" video.

@herschist The irony is 20% of home buyers in 2019 were single women. That number is only increasing year over year. Now its probably near 25%. Its not the men that are having an issue with home maintenance, unless its the men who are to busy working to want to do the maintenance. Those women are a source of future income for handymen. Just changing lights and smoke detector batteries could become an easy money earner for even a semi retired or retired gentleman. I am always shocked by how few people have even an 8 foot ladder.
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yup, living below your means you can save and invest more and retire early, I did it at 46. Its amazing how few do it.
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Few people are looking at it that way. This is a multi faceted topic with many sides.
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@ordinaryhuman5645 psst, easter. Eggs are in demand. derp
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@ordinaryhuman5645 Yea its not like everyone doesnt do it for all of the kids in their family. lol. Here in Tn eggs are 81 cents for 18. So idk. maybe just where you are had more demand.
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@ordinaryhuman5645 fun fact, i just bought 18 again.... still .81 cents. lol If you dont like the cost, buy some chickens. Farmers got to eat too.
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@ordinaryhuman5645 I feed most of my eggs to my piggies. But sometimes I run out. Chickens are fine, just dont get roosters, your neighbors will hate you.
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I dont see how increasing interest rates will cause foreclosures. Most home buyers get a 30 year mortgage, the only reason to refi would be a recession induced job loss. If thats the case its not the interest rate that will cause the foreclosures, its the job losses a recession may bring. Increased interest rates may drop housing prices, but how does that effect people who already own them? So the few people who bought homes over the last two years, and remember, we have had less inventory in those two years than in a normal one year period, might lose their homes. But the vast majority of Americans will be unaffected. That doesnt mean there wont be a market correction, but a crash is hyperbole.
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@cameroon89 They will come down, but it wont be a crash. A house cant sell for less than the parts it costs plus labor. IF prices get that low, people will stop building. Then demand builds up and poof up goes prices. But we are at peak demand right now. Right now there are more people looking to buy than ever in US history. Its also the period where the most people are. As the boomers decline and die off, the next upcoming generations will be smaller and demand will drop, even at current immigration rates. But it wont be a crash, it will be a slow decline. Houses will become a deflationary asset again.
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@Aikynbreusov They dont have to pay taxes and insurance. So they can actually pay a person under the table more than they can pay a person who is legally paid. Thats not the home builders fault, thats the governments. And the government is the way it is because at the end of the day, thats what the people want. Or at the very least, a majority of people. All that said, we get very little Mexican migrant workers these days. Their population grow has stalled as well. You are 20 years in the past.
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@RH-lg9uc Honestly I did not think things would have deteriorated so fast. My comment has not aged well. Id add that it really depends on how deep this recession will be. And day after day, it looks like its going to be worse and worse. That could shake a lot of people out of their homes. But you never can tell.
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