Hot Market ... Will Waterfront Values Drop?

[MAXUM]

Originally Posted by joey2665

We certainly are reading the tea leaves differently. The fed already stated rates will hold where they are for the forceable future. If there is another shutdown from the virus the market will be crushed especially in urban markets.


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Like I said we shall see what happens. I'm not sure I'm 100% right on this and I don't think you are 100% wrong.

One thing I would not be doing however is taking any equity and turning it into debt. Refinancing yes, piling on, hell no!

[thinkxingu]

Originally Posted by MAXUM

Like I said we shall see what happens. I'm not sure I'm 100% right on this and I don't think you are 100% wrong.

One thing I would not be doing however is taking any equity and turning it into debt. Refinancing yes, piling on, hell no!

I agree. I see a lot of people forgetting what we (should have) learned from the Great Recession. A friend of mine just refinanced and extended his mortgage out to 30 again to lower his bill. He'll be 78 when he pays off his house. We, on the other hand, always reduced our term when refinancing. Housie One will be paid off when I'm 55...if not earlier.

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