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Congrats Frank! Saw the house on fb, looks great.

I'd imagine the single stall.

Yes, it's k.hov

Jason is not allowed at my house.

I grew up by the tracks but this house is near WNHS. Where are you located?

Thanks man. The house doesn't look that big from the front but it's really deep.

I think I could fit 5 cars in there if I really tried.

Thanks guys. Some details on the house are 3700 sqft, 4 bedroom, 3.5 bath in Wheaton. Full unfinished basement with extra tall ceilings (can't wait to finish it). We couldn't pass on this type of house in an area like Wheaton. As for the garage, it's 3 stalls wide with 1.5stalls being 2 deep.

Neighborhood developer. As somebody had previously alluded to, it is much cheaper than a full blown custom home.

Can I get in on this fun? Signed a contract a few weeks ago on a new home. Should be finished being built this week, likely closing in March. It has a 4.5 car garage and here's a teaser pic.

Love that lot.

Get a new car. It's what I decided to do when I was house shopping.

Yes, it would be bad for the economy. Having low interest = easy money = more spending. If interest rates go up people aren't as willing to spend money because its a lot costlier to borrow. And let's face it, this is America, people spend borrowed money, not their own.

I'd prefer it. Your monthly cost for a house will remain virtually the same. The value of the home has to drop so much that the monthly payment remains untouched based on supply vs demand economics. This means larger tax write off and an ability to quickly pay the house off by throwing more...

Interest rates were at 15% but houses were also 1/4th to 1/5th the value they are today. In comparison, median income has only doubled while home values have quadrupled. Which only goes to prove my point, when interest rates go up, housing values plummet.

I don't, but the economics guy at Flyns class does. I don't know why he thinks that, the fed stated just yesterday that negative interest rates aren't out of the realm of possibility.

But basic economics says that if Americans aren't making more money, and interest rates go to 5%, how/why would home values increase? Doesn't make sense to me. It may work in florida if there's a higher demand, but not the rest of the country.

Well the thing is, 2 of those aren't likely to happen together. If the market continues to tank, interest rates will stay low. Yelen(sp) even stated yesterday that negative interest rates aren't out of the question.

Is Dr. Jones a realtor too? This sounds like real estate bull shit. The market is tanking, median income is stagnant or dropping and interest rates are rising. All three of these things will lead to a decrease in home prices.