Row 16079

Row ID: 16079 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 16079 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

I did address supply, it was the first the first fucking sentence. The issue with our rate at 5% is that the houses were already barely affordable with the mortgage stress test rules when rates were 2%. People can't get financing to buy the homes and developers have paid so much for land that they can't drop their sales price or sell at the planned sales price if they build without taking a loss so instead they will just sit on the land they bought. Developers also have to finance the cost of building and the news is that they can't afford the interest rates they would pay on a line of credit etc and still make money.

People bought houses at 18% in the 80's in Canada. But at 18% you'd still only pay one months salary in interest. Today at 7% on a 800k home you'd eat up half or more of your income just on interest.

FieldValue
text I did address supply, it was the first the first fucking sentence. The issue with our rate at 5% is that the houses were already barely affordable with the mortgage stress test rules when rates were 2%. People can't get financing to buy the homes and developers have paid so much for land that they can't drop their sales price or sell at the planned sales price if they build without taking a loss so instead they will just sit on the land they bought. Developers also have to finance the cost of bu…
label r/worldnews
dataType comment
communityName r/worldnews
datetime 2024-05-20
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Raw Record

{
  "text": "I did address supply, it was the first the first fucking sentence. The issue with our rate at 5% is that the houses were already barely affordable with the mortgage stress test rules when rates were 2%. People can't get financing to buy the homes and developers have paid so much for land that they can't drop their sales price or sell at the planned sales price if they build without taking a loss so instead they will just sit on the land they bought. Developers also have to finance the cost of building and the news is that they can't afford the interest rates they would pay on a line of credit etc and still make money.\n\nPeople bought houses at 18% in the 80's in Canada. But at 18% you'd still only pay one months salary in interest. Today at 7% on a 800k home you'd eat up half or more of your income just on interest.",
  "label": "r/worldnews",
  "dataType": "comment",
  "communityName": "r/worldnews",
  "datetime": "2024-05-20",
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