Man, I don't think I'm alone. I bought a smallest condo in LA in mid-2023. Got a mortgage at 5.9%. Fed had hiked the rate for about 1.5 years by that time, and people were saying it's going to go down soon. And then, it's not happening anymore… Now it's been over 4 years, JPowell and his people are defending the rate with their lives. Who are they working for? Apparently, the high rate does not help with the inflation, and I believe they know better than anyone. Despite the stupid war, I don't think the inflation would go down to their so-called target 2% even without the war and tariff shit. The high interest rate suck all US dollars back to the US, which fuels the inflation. Again, the Fed should know this better than anyone else. Apparently, they are doing this on purpose and are planning something big and dirty. I don't know what exactly they are targeting, but the weird stock market, weird economy data, weird layoffs, and last but not least, the gold price tell.
Again, I don't think I'm alone stuck in this crazy mortgage rate. Nobody has ever spoken up, no protest, no demonstration. That's awesome! They can technically keep this going on for another 5 years! This shitty zombie economy is worse than any recession.
Why the fk nobody is complaining about the Mortgage rate???
byu/StrawberryNo8340 ineconomy
Posted by StrawberryNo8340
1 Comment
I’m not sure exactly what your accusation is or who you’re mad at? The fed doesn’t control your mortgage rate and as much as the seemingly frozen housing/labor sucks, a recession would almost certainly be worse.