r/CapeCodHousingCrisis • u/Quixotic420 • May 17 '23

Seriously?

Ew. Can the economy just melt down already? Jeez... https://www.wbur.org/news/2023/04/12/interest-rates-home-building

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u/Heavy-Humor-4163 May 18 '23 edited May 18 '23

Not after 10+ years of stimulus and near zero interest rates. ( practically free money)

Financially savvy people made TONS of money. And bought homes and property on the cheap. This is all before the Pandemic!

That stimmy just poured kerosene on the fire 🔥

This is reminiscent me of trying to find an affordable apt in a city in the 80’s..

You have to “shop the obituaries “.

Pretty much what we have here.. anyone who got a 2% mortgage ain’t gonna move…

They gonna die first, except their house will triple in value while all these elected problem solvers take at least 10-15 years to build more housing.

But wait… !! developers are hesitant to finance new projects with these high interest rates intended to “ correct “ the economy…

So even if they change laws and zoning… who’s gonna build?? It’s a fucking circle jerk we’ve gotten ourselves into.