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Rising mortgage interest rate = housing market decline

Wow, the last few interest rate raises by the Federal Reserve have all but killed the housing market and the slight resurgence of home building we were experiencing around here. How is it in your area?

Although for all intents and purposes I am retired I was hoping to be able to get the children started at building in my remaining years. This just may not happen now. It saddens me.

I remember when 8.5% interest seemed cheap. Now it seems 5% has put the brakes on the housing industry.


  • BayBobBayBob Posts: 865 Officer
    Seems strange a .25 % raise or two would have such an effect on home building.  Here  in Tallahassee it appears to be booming, many new single family and apartment construction projects going on all over town. St.Johns and Duval counties are going even stronger. 
  • ferris1248ferris1248 Posts: 15,437 Moderator
    edited January 2019 #3
    The Atlanta market remains strong. Starts are down slightly but not significantly.

    "That which is hateful to you, do not do to your fellow. That is the whole of the law. The rest is commentary."

    Rabbi Hillel (c20 BCE)

  • ANUMBER1ANUMBER1 Posts: 12,379 AG
    Booming here in WCF
    I am glad to only be a bird hunter with bird dogs...being a shooter or dog handler or whatever other niche exists to separate appears to generate far too much about which to worry.
  • SpineymanSpineyman Destin, FlPosts: 8,376 Admiral
    That is what happens when you allow the FED to become a separate entity. They  can do anything they please to do without any interference by the American people or Government. The world money people knew exactly what they were doing when the lobbied the Government to become separate!
    Kayak Rookie...and loving it.
    Fishing beautiful Destin / Ft Walton Beach area!

    II Chronicles 7:14
    if My people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land.

  • trout069trout069 Posts: 5,450 Admiral
    Certain areas around Atlanta started slowing beginning of this past summer.i know someone who does initial work on subdivisions and he saw his business taper off. The rain really put a damper on it also. 
  • illinoisfishermanillinoisfisherman Posts: 5,347 Admiral

    I am a bit worried. Even though they tout our "strong economy" I firmly believe that we can have no complete and lasting economic recovery without a robust housing sector. I seem to remember the numbers from the housing collapse days as being that roughly 25% of our economy directly or indirectly was dependent upon a virulent housing sector.

    What businessman or business could keep head above water if 25% of his business was chopped off. Not I, even in the best of days.

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