Everything is frozen. Nothing happens. Numbers are dismal. It'll be worse.
It's just fu----g horrible.
They are planning more rate hikes and we've already been pulverized.
Where will this take us?
It's so depressing.
11 replies (most recent on top)
we expect another 75 bp hike today! Mortgage banking is toast. Keep paying uncle Fester - Lester $14M while 1,000s get laid off.
@1rfm because people don't burn their houses to drive to work in order to satisfy RTO initiatives.
I'm not sure why anyone would want to be in an industry like that. Just like reality. When things are hot you make great money but most blow it and don't save.
You should plan on being laid off soon.
Why is it that when red- hot inflation is pushing housing prices up by double digits every month it’s time to party, but when it hits gas prices it’s a national tragedy?
Housing always has been and always will be something of a rollercoaster. If you're in that game, you know this.
A 30 year at WF is 5.000% as of today 7/22.
That's pretty low for the last 4 weeks.
You sure you work for WF???
@pls+1hQSxYq Irrational Exuberance, I agree. My question is - where is all this money coming from?! I’ve got neighbors that bought for cash, drive $100k cars and are out walking their dogs or jogging at any point in the day you can imagine.
I’d be shocked to know I live in a town that became a haven for day traders who never misstep. So where is all this cash coming from!?
Good. The housing market needs to crash.
Houses that were $200K here 5 years ago were being listed for $320K and selling for $360K. That is economic insanity.
Calm down and get some perspective
You work in a cyclical industry, when times are good you are getting amazing bonuses. then 2022 comes.