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The Water Cooler
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Crazy housing market
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<blockquote data-quote="Old_Red" data-source="post: 3620452" data-attributes="member: 45786"><p>Interest rates are unbelievably low as the FED hemorrhages money to buy Treasury Bonds at interest rates so low no one else will buy them in the quantity the Federal government needs to fuel their spending spree.</p><p></p><p>As inflation that we've all felt in our pocketbooks for the last 8 years finally makes the news and the FED keeps hinting about raising interest rates folk think they see the end of 3 & 4% home loans in the near future. The cost of building new is awful and the uncertainty of the cost of money once a new house is built is uncertain.</p><p></p><p>Paying the asking price today beats getting into a <a href="https://www.nytimes.com/2021/07/23/realestate/housing-market-burnout.html" target="_blank">bidding war</a> on a house tomorrow. I don't think we will see much of that in Oklahoma, but there was a little the last time we were in this shape.</p></blockquote><p></p>
[QUOTE="Old_Red, post: 3620452, member: 45786"] Interest rates are unbelievably low as the FED hemorrhages money to buy Treasury Bonds at interest rates so low no one else will buy them in the quantity the Federal government needs to fuel their spending spree. As inflation that we've all felt in our pocketbooks for the last 8 years finally makes the news and the FED keeps hinting about raising interest rates folk think they see the end of 3 & 4% home loans in the near future. The cost of building new is awful and the uncertainty of the cost of money once a new house is built is uncertain. Paying the asking price today beats getting into a [URL='https://www.nytimes.com/2021/07/23/realestate/housing-market-burnout.html']bidding war[/URL] on a house tomorrow. I don't think we will see much of that in Oklahoma, but there was a little the last time we were in this shape. [/QUOTE]
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