Kithani
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You seem pretty confident that big papa B won’t just print up some “mortgage relief” payments for everybody to stay afloat!
Home buying thread
- Thread starter Pasteton
- Start date
Mizake
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I sincerely doubt that would ever happen. The entire Democratic party shtick is "helping the poor". Poors don't own homes, they rent. Most brown minorities don't own, they rent. So he's more likely to suspend rent payments, give eviction protections, than to ever give relief to white/asian home owners and institutional firms like BlackRock. Actually, he's more likely to bail out BlackRock than he ever would bailing out America's middle/upper middle class.
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Ishad
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Kithani
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I agree with you in theory but here we are bailing out the middle class with student loan relief. I think the difference between 2008 now is they have realized they can now buy votes from anyone.
nu_11
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This is my view too.
People dont have a reason to sell unless they lose their jobs and can no longer afford their mortgage. So a recession including layoffs will be necessary to kickstart a drop in home prices. How do we get a recession? Well if the whole housing market feezes due to affordability concerns then we no longer need to employ home construction workers and all the associated upstream and downstream market activities; queue a recession.
In order for us to get back to a reasonable housing market we need to endure some pain, unfortunately...
Abigailicious
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Jysin
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Canadians not pay any attention to 2008 or what??
Sanrith Descartes
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nu_11
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you_gotta_pump_those_numbers_up_those_are_rookie_numbers.gif
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Gravel
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I thought you wanted to be close to the water. That sounds like non-beach area.
My in-laws have a plot in Homasassa Springs. Wasn't a fan.
Sanrith Descartes
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It was near the state park there. Turns out they said no to my offer and refused to move on the price so i keep looking.
The problem with east coast water lots is they tend to be pretty small. What I liked about these was the size and that there side-by-side and gave me that whole side of the block.
Burns
Golden Baronet of the Realm
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Naples up to Ft. Myers should have some good deals on property at the moment.
The Naples area is the only place in Florida I have been that I would think about a return visit to. Outside of the normal Florida plague of bugs, it was nice, and far enough from Miami, Tampa, and Orlando to keep the scumbags at bay.
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Fogel
Mr. Poopybutthole
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NE Florida is pretty good as long as you stay outside of central Jacksonville and Daytona. St. Augustine, Palm Coast etc are really nice areas with low levels of riff raff, though St Aug is starting to get a little crowded.
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Sanrith Descartes
Veteran of a thousand threadban wars
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You will never in a million years guess what the workaround is to mortgage rates at 7%. Never ever.
“The popularity of adjustable-rate mortgages is increasing very quickly, as many borrowers believe they will have the opportunity to refinance into a fixed-rate mortgage at some point before their ARM adjusts,” says Corey Burr, a real estate agent in the Washington D.C. area"
These fuckers deserve everything they are gonna get. We never fucking learn.
finance.yahoo.com
“The popularity of adjustable-rate mortgages is increasing very quickly, as many borrowers believe they will have the opportunity to refinance into a fixed-rate mortgage at some point before their ARM adjusts,” says Corey Burr, a real estate agent in the Washington D.C. area"
These fuckers deserve everything they are gonna get. We never fucking learn.
‘The numbers just don’t work’: While rising mortgage rates have some homebuyers giving up, others think they’ve found a workaround
Rates near 7% are a tough ‘mental hurdle’ for homebuyers to overcome, one economist says.
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Asshat wormie
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That is the narrative for any mortgage right now. "you will refi in 3-4 years".You will never in a million years guess what the workaround is to mortgage rates at 7%. Never ever.
“The popularity of adjustable-rate mortgages is increasing very quickly, as many borrowers believe they will have the opportunity to refinance into a fixed-rate mortgage at some point before their ARM adjusts,” says Corey Burr, a real estate agent in the Washington D.C. area"
These fuckers deserve everything they are gonna get. We never fucking learn.
‘The numbers just don’t work’: While rising mortgage rates have some homebuyers giving up, others think they’ve found a workaround
Rates near 7% are a tough ‘mental hurdle’ for homebuyers to overcome, one economist says.
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Sanrith Descartes
Veteran of a thousand threadban wars
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I have seen this movie and know how it ends. Really good fucking movie though.
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OU Ariakas
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As bad and as predatory as it sounds, this just means I will be looking to pick up some nice rental properties on short sale in 5 years when the loans don't adjust and those borrowers are drowning.
I have no sympathy for investors or a couple buying their third house that choose an ARM; it is the first time buyers that have never paid attention to the market that are trusting their broker and getting burned half a decade later. It's like college kids getting pizza to sign up for a credit card levels of deception.
I have no sympathy for investors or a couple buying their third house that choose an ARM; it is the first time buyers that have never paid attention to the market that are trusting their broker and getting burned half a decade later. It's like college kids getting pizza to sign up for a credit card levels of deception.
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