How low can we go? 30 yr fixed at 3.75% with no fees...

[YMMV]

Rent is going up crazy now. People are renting instead of buying.

 

[GrowthStateofMind]

Rent is going up crazy now. People are renting instead of buying.

People have to live somewhere right?

 

[OCtoSV]

Do rates matter for $2M+ market ? Don’t people limit mortgages to $750K for interest deductibility?

 

[vsfan]

Do rates matter for $2M+ market ? Don’t people limit mortgages to $750K for interest deductibility?

I was thinking about the same - but if you dont have US income the tax benefits is actually not meaningful at all.

 

[OCtoSV]

So let’s say that’s Irvine. What about Newport - is the white family dying to get into the Port Streets really going to take out a $3M mortgage?

 

[Loco_local]

White families dying to get into the Port Streets probably have inherited wealth or equity from buying before 2020. I don’t think higher interest rates will prevent them from taking out a million dollar loan and I doubt interest tax breaks figure much into their calculations since they have CPAs that already know how to lower their tax burden other ways.

 

[momopi]

Rent is going up crazy now. People are renting instead of buying.

My little Oak Park plan 1 (1 bed) condo rented for $2000 in 2018. It’s now $3000, but I already sold it. ;(

In comparison, the 3 bed house in Chino rents for $3250. >_>

 

[irvinehomeowner]

So what you are saying is instead of selling and downsizing somewhere just rent our Irvine house out and then when we expire, pass down the property to the kids and let them sell it tax-free?