Joe Heller for August 18, 2023

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    Redd Panda  8 months ago

    When we got the house, it was tough for a few years.

    With the prices today, couldn’t be done. We’d be living in a crate next to the train tracks.

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    brwydave Premium Member 8 months ago

    Is it the American Dream – living in a tent pitched on a downtown sidewalk in a great a American city.

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    ibFrank  8 months ago

    There is a good chance that mortgage rates will start to go down next year if inflation goes down for rest of the year.

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    Radish the wordsmith  8 months ago

    Don’t build in Texas…

    Texas power prices soared 6,000% on Thursday as a fresh heat wave is expected to shatter temperature records in the coming days.

    Spot electricity prices jumped to $4,750 per megawatt-hour Thursday afternoon from the average of $75 on Wednesday afternoon, according to data from grid operator Electric Reliability Council of Texas (ERCOT) cited by Bloomberg.

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    Nantucket Premium Member 8 months ago

    When I bought my first house the mortgage rate was 17% and we refinanced when the rates went down.

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    Retrac Premium Member 8 months ago

    Welcome to the 1970’s.

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    robertthomasson  8 months ago

    We have similar issues in the UK, the dream is home ownership. As a teacher in London, doing my duty, I could not afford to buy an apartment without help from my parents and financial hardship. And then not until I was 50.

    But in Europe, especially Germany, home ownership is not the dream. Home security is. People have very long tenancies, 25 years plus, low rents and protection from eviction. They treat it as their home, decorate, fit kitchens and often pass it on to their children

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    NeoconMan  8 months ago

    Drop the interest on loans! Bring back inflation!

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    djtenltd  8 months ago

    @Redd Panda- Your comment reminds me of a story I heard years ago about a man and a woman who were homeless and living on the street. She found a cardboard box to sleep in. When the man asked to share it, she said no. And he said: “This ain’t nuthin’ but a cardboard box!!” And she said: “Yeah, but it’s MY cardboard box!!” I thought that was totally outrageous!

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    Linda Schweiner Premium Member 8 months ago

    When I bought my first house in 1988 the mortgage was 13%. Refinanced a couple of years later way down to 9%.

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    359mxn  8 months ago

    Thank the venture capitalists.

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