We got so spoiled since 2000. Mostly rates were 9-10%. Sales slowed at 13% and pretty much stopped at 13% & higher. And as rates climbed, prices fell. In my experience, the last 23 years of ever lower rates & ever higher prices are unprecedented. Back then, banks only loaned conventionally in local area...most wouldn't even cross county lines.
The deregulation in 1999 blew the lid off that and led to more refinances than ever before...and NSAs were born...and valued during the boom years--which are OVER. Now newbs are fighting over tickets for the Titanic. |
