Vacation Home Buying Fizzling. RV's too?
How many think this article from the Washington Post could be reprinted substituting "RV's and Boats" for "Vacation Homes"? Those monthly payments are going to start looking ugly when you're finding ...
Forum Discussion
I hear the same bogus arguments this time around as I did back in 2008 when the whole housing market took a dump. People never learn. I work on houses for a living. They are money pits, not magical money trees.
Not only is the housing market already tanking, RVs, boats, trucks, cars and everything else are following suit. Interest rates on mortgages have doubled since last August. That means the average house payment is up over 1/3 since that time, and we're talking houses that are at the pinnacle price peak of the biggest real estate bubble in history.
The entire situation was completely unsustainable, and now it's time to get ready for the fallout. I'm already seeing WAY more used RVs for sale than just a month ago. When money gets tight, the toys are the first to go. Forget a crashing housing market, I'm anticipating everything else crashing much worse before then, because it's all interest rate sensitive. For somebody like me who purchases things in cash, I will be enjoying watching this unfold.
Not only is the housing market already tanking, RVs, boats, trucks, cars and everything else are following suit. Interest rates on mortgages have doubled since last August. That means the average house payment is up over 1/3 since that time, and we're talking houses that are at the pinnacle price peak of the biggest real estate bubble in history.
The entire situation was completely unsustainable, and now it's time to get ready for the fallout. I'm already seeing WAY more used RVs for sale than just a month ago. When money gets tight, the toys are the first to go. Forget a crashing housing market, I'm anticipating everything else crashing much worse before then, because it's all interest rate sensitive. For somebody like me who purchases things in cash, I will be enjoying watching this unfold.
