Quote:
Originally Posted by zilo
Our economy healthy?
Nahhhhhhh...
The ponzi housing speculation is all we have these days.
Our economic complexity is third world...if even that.
the interest rates are still so low it's hilarious.
Just sayin'.....  |
Employment is pretty good and I’m seeing lots of houses being built in my region, which will be a mix of investors and owner occupied.
You are right about interest rates rising but still relatively low, todays generation have never seen 15%-17% interest rates on houses and we’re a lifetime from that but our prices are right up there beyond many….
most people living on the edge with week to week money/no real savings, the banks will have to factor in what rates they want/need to pass on…if that causes too many defaults, then that becomes a problem for the banks, too much red ink, sometimes better to “work through” whenever possible.
Fuel prices affect a lot of things, more belt tightening but notice that people continue to buy as many new vehicles as can be delivered…..so there’s that..