OrangeBills Posted 1 hour ago Posted 1 hour ago 44 minutes ago, teef said: i'm not smart enough to have a solution to something like this, but killing people with interest certainly isn't the solution. there's just a lock on the market right now. the older generation aren't leaving their home at a similar rate in the past, people are in no rush to buy due to rates. when houses do come on the market, there's still bidding wars, (i think no as bad) and the over pay happens. maybe lowering the rates will get people to become comfortable with buying and selling again, opening the market and lowering prices. more homes on the market, the less bidding, the lower the price, etc. this isn't just a biden issue. it's just to easy to place blame that way. You switched from Autos to Homes there, but yes, I agree with you…lower rates will probably (counter-intuitively) lower housing prices due to the increased supply effect. Autos won’t have that same effect, but payments are so stretched that I don’t think lower rates leads to materially higher prices. The Biden Admin will have cost a generation (5 years worth of people) a whole bunch of opportunity but we have to do it.
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