Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: Libbyt who wrote (51855)	4/23/2004 1:38:26 PM
From: Jorj X Mckie	Read Replies (1) of 57110

Right now it is easier for more people to buy homes with the lower interest rates. Is that really true? Would you really pay more buying a house for $500,000 with a 7.25% fixed interest rate then A $1,000,000 at 4.5% fixed interest rate ???? That's pretty much what the situation is around here. (I don't know if 4.5% is realistic, probably higher). The point is that housing prices rose commensuerate to the interest rates falling. I don't see any real benefit to home buyers. Any savings on interest is offset by the higher housing prices. Not to mention the larger tax bill. I see the real benefit as having gone to the current homeowners who simply refinanced at the lower rates.

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