Mortgage rates and the housing market

[Uncle Rico]

Glad to hear that your house was not flooded 21. When I see news stories about people whose homes are lost due to flooding, wildfires, tornados etc. I always imagine my wife and I being in their position. Even if insurance fully covers the losses, the emotional and mental strains must be immense. I hope we never learn first hand.

Storms ripped through last night and took down a bunch of trees and limbs in the West Allis/Greenfield/West Milwaukee area.

[CreightonWarrior]

BofA Global Research came out this week stating it expects little change in mortgage rates even if the Fed reduces the funds rate multiple times later this year.

They project the average 30-Year mortgage rate staying in the 6.5%-7.0% range at least through 2026.

The report also said that housing affordability has fallen by 28% since December 2021, just before the central bank embarked on an aggressive round of monetary-policy tightening.

https://institute.bankofamerica.com/content/dam/economic-insights/growing-debt.pdf#:~:text=Global%20Research%20expects%20little%20change%20in%20mortgage%20rates%2C,be%20with%20us%20for%20some%20time%20to%20come.

Mortgages and the 10 year move on expectation, not as a reaction. September cut is already 95% priced in and another cut by EOY is about 90% priced in already and we're still above 6.5% on average. MBA forecasts don't our mortgage rates below 6 until 2027 but there's a significant wildcard on who Powell's successor will be.

[21Jumpstreet]

Glad to hear that your house was not flooded 21. When I see news stories about people whose homes are lost due to flooding, wildfires, tornados etc. I always imagine my wife and I being in their position. Even if insurance fully covers the losses, the emotional and mental strains must be immense. I hope we never learn first hand.

Appreciate that, I agree. Lots of people we know are affected, basements hold lots of memories, including ours. Three days later, my son says the sump still be sumpin and thankfully a power outage was brief.

When my wife and I bought our first house, one evening during a storm we were bucketing fast rising water from the sump to the slop sink with flashlights in our mouths while the power was out for hours. Every time I hear the click and calibration noises of a cheap HP printer (when the power finally came back on), it still brings me a sense of relief to this day. Water issues are probably the nightmare that wake  me up the most.

On another note, my son's car is totaled as he was driving on a road that had water on it only to have the car sink up to the bottom of the doors. Loader had to go into the water, and he and his girlfriend had to climb out the window onto it. Now, I'll give him the benefit of the doubt, but he is a 19yo boy, cost me $2300 to have the car recovered and towed. Yikes. He had driven the road the day before, so had others, and the next day, we are out a car. Several roads closed nearby, water levels continue to rise and shift even though the rain has subsided. It is a shocking scene to be honest. So glad it was just a car.

[Pakuni]

Boomers ruin everything.

In 2024, there were more home buyers over the age of 70 in the U.S. than under the age of 35, data from the National Association of Realtors (NAR) shows.

According to NAR, the share of "older" baby boomer (1946-1954) home buyers was 22%, while the share of "younger" millennials (1990-1998) and Gen Zers (1999-2011) were just 14% and 5%, respectively.

https://fortune.com/2025/07/23/baby-boomers-dominate-housing-market-millennials-gen-z/

[Jockey]

Boomers ruin everything.

In 2024, there were more home buyers over the age of 70 in the U.S. than under the age of 35, data from the National Association of Realtors (NAR) shows.

According to NAR, the share of "older" baby boomer (1946-1954) home buyers was 22%, while the share of "younger" millennials (1990-1998) and Gen Zers (1999-2011) were just 14% and 5%, respectively.

https://fortune.com/2025/07/23/baby-boomers-dominate-housing-market-millennials-gen-z/

Those under 35 need to get rid of their shelter dogs and Snoopy blankets and get out and work. They might even acquire the wealth of the Boomers and buy a house of their own.

A lot of 20 somethings live at home with mommy and daddy and don't need to buy a house. Interesting that the majority of them are men. Young women are out working.

[Scoop Snoop]

Boomers ruin everything.

In 2024, there were more home buyers over the age of 70 in the U.S. than under the age of 35, data from the National Association of Realtors (NAR) shows.

According to NAR, the share of "older" baby boomer (1946-1954) home buyers was 22%, while the share of "younger" millennials (1990-1998) and Gen Zers (1999-2011) were just 14% and 5%, respectively.
to do
https://fortune.com/2025/07/23/baby-boomers-dominate-housing-market-millennials-gen-z/

So the Zers, aged 14-26  (20 years old on average), represent only a small percentage-5%- of the homebuyers. Why should this be surprising?

And what do you think should be done to prevent the "older" boomers from buying 22% of the homes?

[Shaka Shart]

So the Zers, aged 14-26  (20 years old on average), represent only a small percentage-5%- of the homebuyers. Why should this be surprising?

And what do you think should be done to prevent the "older" boomers from buying 22% of the homes?

5 point plan

[TSmith34, Inc.]

And what do you think should be done to prevent the "older" boomers from buying 22% of the homes?

RFK, Jr. is working on a strategy for that

[Hards Alumni]

Those under 35 need to get rid of their shelter dogs and Snoopy blankets and get out and work. They might even acquire the wealth of the Boomers and buy a house of their own.

A lot of 20 somethings live at home with mommy and daddy and don't need to buy a house. Interesting that the majority of them are men. Young women are out working.

Brain dead boomer ass take. 

[Jockey]

Brain dead boomer ass take. 

Much easier to blame others for your failures. You think we didn't have to really stretch to buy houses when we were young?

Time has come for millennials to put up or shut up.

[Hards Alumni]

Much easier to blame others for your failures. You think we didn't have to really stretch to buy houses when we were young?

Time has come for millennials to put up or shut up.

The statistics don't agree with you, but whatever.

I can't tell if you're trolling or dumb.

I hope it's just trolling.

[Jockey]

The statistics don't agree with you, but whatever.

I can't tell if you're trolling or dumb.

I hope it's just trolling.

What age were you when you bought your 1st house?

[Hards Alumni]

What age were you when you bought your 1st house?

69

[LON]

69

Nice.

[Shaka Shart]

420 months

[TSmith34, Inc.]

Those under 35 need to get rid of their shelter dogs and Snoopy blankets and get out and work. They might even acquire the wealth of the Boomers and buy a house of their own.

A lot of 20 somethings live at home with mommy and daddy and don't need to buy a house. Interesting that the majority of them are men. Young women are out working.

This is not an avocado toast and shelter dog problem. If you bought a house in the 70's, the average price was 1.5x - 2x average income. In 2022, it was 6.4x average income.

[TSmith34, Inc.]

Much easier to blame others for your failures. You think we didn't have to really stretch to buy houses when we were young?

Time has come for millennials to put up or shut up.

No where near as much.

[MUBurrow]

69

Lemme guess, you moved on from that house when you realized it was too much work to sit back and enjoy it?

[Shaka Shart]

This is not an avocado toast and shelter dog problem. If you bought a house in the 70's, the average price was 1.5x - 2x average income. In 2022, it was 6.4x average income.

People should try getting better paying jobs then

[Hards Alumni]

Lemme guess, you moved on from that house when you realized it was too much work to sit back and enjoy it?

I have my servants to maintain everything, thank you very much!

[Scoop Snoop]

There is plenty of data to show that the prices of homes have risen far greater than incomes over the decades. I really do not understand how anyone can challenge the mathematics.

I also really do not understand how referring to one's position in the prejudicial classification by generation has anything to do with the current housing market.

"Boomers ruin everything".

"Those under 35 need to get rid of their shelter dogs and Snoopy blankets and get out and work. They might even acquire the wealth of the Boomers and buy a house of their own. A lot of 20 somethings live at home with mommy and daddy and don't need to buy a house. Interesting that the majority of them are men. Young women are out working.

"Brain dead boomer ass take."

Jockey's post displays ignorance, regardless of what generation he is in. There is no shortage of writers online who phrase everything as generational wars, I guess because it sells and is easier than putting the time into understanding an issue.

The chance of owning their own homes is slim for many younger people today. Ignoring that reality, to me, shows a lack of empathy. I get why they feel cheated. But...exactly how is the fault of older people who choose to remain in their homes? Should owning more than one home be prohibited? Should corporate purchasing of single-family homes be restricted or prohibited? If so, on what legal grounds? How can home buying be brought within the reach of buyers who are shut out of the market? Prefabs? Add your thoughts.

 



 
 

 

[jesmu84]

There is plenty of data to show that the prices of homes have risen far greater than incomes over the decades. I really do not understand how anyone can challenge the mathematics.

I also really do not understand how referring to one's position in the prejudicial classification by generation has anything to do with the current housing market.

Because - as a collective group - an entire generation made a LOT of social and political decisions to only benefit themselves or remove policies/programs they benefitted from

[Hards Alumni]

Because - as a collective group - an entire generation made a LOT of social and political decisions to only benefit themselves or remove policies/programs they benefitted from

And they're trying to kick the ladder out from under themselves to their own benefit.

[Jockey]

"Boomers ruin everything".

"Those under 35 need to get rid of their shelter dogs and Snoopy blankets and get out and work. They might even acquire the wealth of the Boomers and buy a house of their own. A lot of 20 somethings live at home with mommy and daddy and don't need to buy a house. Interesting that the majority of them are men. Young women are out working.

"Brain dead boomer ass take."

Jockey's post displays ignorance, regardless of what generation he is in. There is no shortage of writers online who phrase everything as generational wars, I guess because it sells and is easier than putting the time into understanding an issue.
 
 

Can't believe you took me so seriously. It was a very simple dig at Hards as he has a bad habit of attacking and blaming boomers for all of life's ills. It was meant to be as over the top as his post.

[Scoop Snoop]

Can't believe you took me so seriously. It was a very simple dig at Hards as he has a bad habit of attacking and blaming boomers for all of life's ills. It was meant to be as over the top as his post.

You got me!