Ya I've worked on those very houses. I'm fairly confident that market will stay pretty steady. Those are decent profit margins and very nice houses. The custom market doesn't seem to fluctuate as much as the cookie cutter stuff.
Housing market
- Thread starter simply1
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Lol I say this at minimum 3 times a week when folks ask me. "If I knew where they were going to be next month I wouldn't be working here, I'd be trading futures from my couch at home".
Ever is a long time considering 3% rates occurred in 2013 too. Yes, it will take a while to drop to and below 5% but it will happen again.
I got luck and refinanced for 2.6 percent. Feel sorry for young families looking to purchase with interest rate today.
We did a 2.25% for 15 years, now wish we did a 30 year.
I've read economists who believe in "trickle down real estate" too - let builders focus on the big/upscale housing, and people will move up from their smaller homes.
That does kind of work. I mean I'm sure you can find examples of that happening. But it's not happening at the rate that people are wanting to enter the market, so it's driving the median home price far outside the capability of the median income.
That does kind of work. I mean I'm sure you can find examples of that happening. But it's not happening at the rate that people are wanting to enter the market, so it's driving the median home price far outside the capability of the median income.
we did the 30 year. could have gotten better with a 15 year but wanted the lower payments.
And you can always make the larger payments and have the loan amortize like a shorter term loan.
I'd always sell it as a safety net. If you want the 15 year term pay $X. But if things are tight for a month then just make the normal payment.
Why would you want a longer mortgage? We went 15 our last go round as well, which will have it paid off rite around retirement. But we'd only bought our place a couple years earlier.
I guess if you are young and want a lower payment, you could be putting that money into a retirement account or something.
Yep, we pay $100 extra each to cut down on term. still cheaper than renting.
Getting a 15 year was one of the best things I ever did. I paid extra every month and was done in 12 years (this year).
Could have taken the difference in pmt between the 15 and 30 year into my brokerage acct. Depending on what interest rates do we could pay the house off early. I like the bank paying me 5% while Im paying them 2.25%.
Doesn't help that domestic brands are overpriced spec for spec. Every time our leases are up, I first look at Ford and Chevy and then compare to our Toyota Highlander and Honda CR-V. We're on our 3rd of each because the price for the Platinum and Touring editions are much cheaper than similar spec'd Explorers and whatnot.
Example:
Toyota Highlander Platinum with all possible options cost me retail $53K.
Ford Explorer Platinum with all possible options retails at $62K.
The Toyota has a few additional perks and the same warranty and reliability (typically a little higher scoring actually).
You can actually get the new Grand Highlander Hybrid Platinum for less than the Explorer Platinum (non hybrid).
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At that cheap of a rate you were smart to do 30.
You can always pay extra or invest the difference in payments. Plus it gives you the flexibility to pay less if you get in a bind.
GM Q2 revenue, earnings soar as automaker boosts profit guidance for 2nd time
General Motors' revenue and profit beat Wall Street expectations in Q2, and the automaker hiked its earnings guidance again.
GM Q2 revenue, earnings soar as automaker boosts profit guidance for 2nd time
General Motors' revenue and profit beat Wall Street expectations in Q2, and the automaker hiked its earnings guidance again.finance.yahoo.com
I know they still do great and never expect them to change. I think a lot of it is uneducated buyers and/or USA only mindsets. Personally, I want the best vehicle for my hard earned money.GM Q2 revenue, earnings soar as automaker boosts profit guidance for 2nd time
General Motors' revenue and profit beat Wall Street expectations in Q2, and the automaker hiked its earnings guidance again.
Don’t get me started on how absolutely ridiculous pricing is on a Jeep Grand Cherokee with decent options… and they’re second lowest on reliability ratings just behind Dodge.
I do not understand who is buying these vehicles. I see Jeep Grand Wagoneers everywhere around DSM. Those start at $95,000. That's $1,119/month financed at 0% for 84 months, btw. I know there are plenty of people that make enough to afford that. But boy, it seems like there are a LOT of $90k+ vehicles I see on the road between SUVs and pickups.
The idea of an 84 month loan is just insane to me.
