Posted by E.B. Haymakin' on October 31, 2022 at 12:01:14 from (172.58.248.213):
In Reply to: Home Prices Thoughtd ? posted by whizkidkyus on October 30, 2022 at 21:59:52:
I would wait..the more rates get hiked sales should slow, and prices should come down. Don't know if building materials will fall (don't think so) even if housing falls off a cliff. Cost of production is through the roof. I firmly believe the real estate bubbles prove that our political class use the banking system to "subsidize" the economy. And through the fdic tax payers are actually the ones at risk in default. If you think there's any risk of default buy something you won't get attached to. I don't see how anybody will live long enough to pay off a mortgage. In the 2007/08 debacle the average price of a house around me was 200-250,000. Now there $400,000. Ponzi scheme, pure and simple
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Today's Featured Article - Timing Your Magneto Ignition Tractor - by Chris Pratt. If you have done major engine work or restored your tractor, chances are you removed the magneto and spark plug wires and eventually reached the point where you had to put it all back together and make it run. On our first cosmetic restoration, not having a manual, we carefully marked the wires, taped the magneto in the position it came off, and were careful not to turn the engine over while we had these components off. We thought we could get by with this since the engine ran perfectly and would not need any internal work. After the cleanup and painting was done, we began reassembly and finally came to t
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