this post was submitted on 07 Feb 2024
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This needed to be said a long time ago. People can't seem to grasp that lower interest rates mean that average Joe qualifies for a bigger mortgage. Bigger mortgage qualifications = bigger housing prices since people can overbid, etc. driving up housing prices. Lower interest rates are the opposite of what we need!
The only people that are helped by lower interest rates are people that spent way more than they should have and are in debt up to their scalp. Those people need debt counseling/consolidation services to manage their debt individually. Don't fuck up the rest of the housing market because you are in too much debt.