I Contemplated Turning In My Real Estate License
I was brainstorming about what we could talk about in our next video and I asked Tim to send me some info on long-term interest rates. Like, what will rates be in 1,3, and 5 years from now…
Seems like an interesting topic, I was secretly hoping he would send me a chart showing 4.5% and holding forever
When he sent it to me, I was shocked… I couldn’t believe what I was seeing. I actually called a buddy who is a contractor to see what it would take to get into the contracting business.
I thought I could be a good contractor because I would always deliver a great product, I don’t do drugs or drink, and frankly, there is a shortage of stand-up guys who can do what they say, at the given price, and come close to the promised timeline.
Why? 9.55% interest on a 30-year fixed mortgage in 2026 …Whaaaaaaaa?(think minions lol) I got a chill down my spine and I thought this is it, I am done. No one will buy a house at 10% interest. If they did they would never pay what people are asking for houses today and it would either crash the market or freeze it entirely
Either of those scenarios is a death blow to me. I am a single-income household and if we don’t sell houses, we don’t eat.