they cut the housing market right off at the knees by these hard raises.
I have one friend that got a 2.5% loan and one more got 3%.
same loans are now over 7% housing market shut down asap .
It is funny that even regular peeps who might seem to be relatively smart don't even realize why they should have been trying to lock in their housing interests rates in the last year... I mean if they really feel that they would have been able to get a decently priced house or that they realize some of the difficulties buying in the last year due to price, also..
Within the past year, I had a mid-20s friend tell me that he was pre-approved for something like 3-4% fixed interest rate loan, and I told him that was a great rate to lock in, if he was going to be buying anyhow, but he seemed bent upon some kind of a belief that interest rates would be coming down in the future - and he seemed to be suggesting that an ARM would be better.. and I attempted to make my point a few times to favor the Fixed rate.. especially if he would be able to get 3-4%.. and he continued to act like a fixed rate would not be a good thing.
There's ONLY so much any of us can do.
I was having another conversation with another friend in his late 50s, and he was telling me that he had subscribed to various services (3 of them, I believe) to help him to trade various aspects of index funds, and to give him various tips about trends and Elliot waves.. and he had been studying these trading ideas for about a year, so he could get in and out of various kinds of index funds and to be able to either go long or to go short, and we spent quite a bit of time going back and forth with our ideas, and of course I was trying to prioritize longer term thinking, but he seemed to be set upon how he could beat index funds by trading them, and he was a bit upset that he had spent so many years building up a retirement fund that had a lot of trading restrictions, so he had moved some of that value into accounts that allowed him to trade (a portion of it), and he also thought that he was deceived in terms of his employers 401k not allowing some company like Blackrock to come in and to trade funds for him, even if it might cost some fees, he believes his funds would have been better with higher fees and more active management from a company like Blackrock.
My late 50s friend is not dumb, but it seems that there could be a lot of problems in which he fucks around with trading index funds and depleting his various retirement funds rather than his presumptions that he will be able to build them. including that he had heard about longer waves and 100 year cycles from Ray Dalio, too... so there are some lower targets that he is aiming for... in terms of those market wide index funds.
There is only so much we can do, including our attempts to insert Bitcoin into the investment package.. when people think that they have better ways to hedge their investments, and neither my mid 20s friend nor my late 50s friend own any bitcoin at all... and they do not really seem interested in bitcoin, except to nod along when I suggest that bitcoin should be one of their investment hedges, even if ONLY 1%.
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