The average long-term U.S. mortgage rate jumped this week to its highest level in 20 years
The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
Rates shouldn't have been so low in the first place. Home loans have basically been free money for the wealthy to acquire houses as assets in a sick fucking get-rich-quick scheme, where the consequences have been no one being able to afford homes. Now all we need is a tax on unoccupied homes.
Zoning laws have a small part to play. The biggest issue is the privatization of the housing market. The government needs to get involved in building single family homes.
We were able to buy our house with 0 down. Our state even has a program where they foot up to 5k in closing costs. We started at 3.875% and refinanced to 2.875 when the rates plummeted a few years later to get rid of the PMI.
Small part? My city is getting richer and richer while rents are exploding all the while my block is dying because zoning laws won't let any of it be changed.
I am sorry for your situation but rage at me won't change what your government did because people can't be bothered to pay attention to local government.
Name two people on your city board, tell me why you voted for your mayor, what was the last zoning board meeting about, the last time you spoke at a town.meeting what did you say?
Yeah, thought so. Everyone is so worked up about what some asshole in Washington twatts at another asshole that they don't notice or care about what happens right in their town. The thing they could actually work on.
Can you call social services btw? How about a religious building in your area? Some of them do have apartments available temporarily.
Your mayor and city council is being lobbied by whom exactly? Who exactly is bankrolling the Faceboot page for Celitus to run for mayor? Why does some corporation have an interest in making sure that abandoned retail locations stay abandoned instead of being converted into condos?
Go to your city's website right now and check out the minutes from the zoning/adjustment board. Show me who has compelling interest in literal anything going on except the local Karens who want to keep POC out.