Quote:
Originally Posted by FlyingScot
Exactly. With median prices >$2MM, nobody's borrowing to be on the water. It's all capital gains from a very hot stock market. Look for a cut in taxes on the wealthy to boost lake prices higher, or a drop in the S&P to bring them lower
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Many of those very wealthy refinanced their business debt and when their businesses make more, they also make more. I'm sure Trump renegotiated all the loans on his real estate empire at very low rates as did many other commercial and income producing property owners did. But the stock market has also contributed to all this wealth. I think 2025 will be a make or break year, hope for the best but prepare for the worst.
I know I'm holding off on any big expenditures for at least the first six months to see which way it goes but I'm 70 and not your typical consumer anymore.