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Mortgage Rates at ALL-TIME Lows!!! Does It Matter??

Started by beatyerputz
about 17 years ago
Posts: 330
Member since: Aug 2008
Discussion about
Lots of talk about mortgage rates at all-time lows by the SteveF/Juiceman braintrust. Okay, this one's easy. This should be a catalyst for the market. But it won't be. Let's look at the market in 3 months. If as I predict low mortgage rates will have done nothing to help volume and pricing, I think we can say, with conviction, that the NYC real estate is irreparably over, fucked. Much worse than anyone thought. There will be no more room for denial. SteveF/Juiceman - you guys better pray that this mortgage-driven blood transfusion does something, anything.
Response by looking2return
about 17 years ago
Posts: 182
Member since: Jan 2009

IMHO the lower rates only help the lower end (studios and 1BRs) but there is compression from the higher end. Overall, I expect these low rates are simply slowing the rate of decline in the lower end and once they're gone those prices will fall much further (percentage-wise) unless NYC suddenly creates a bunch of real (non-government) jobs--a miracle that would exceed the 1980 US gold in hockey.

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