/biz/ - Business & Finance

Most people would rather starve to death than buy at these prices.

>please buy my bags

>>55948412
I'm 25 and I've basically given up my dreams of having a family in a home that's why

>>55948412
Top signal

>>55948412
Rates are still they highest they've been in decades and a 1% down payment isn't going to negate that.

>>55948412
monthly payment is the limiting factor, not down payment.

this reminds me of when Celsius was offering a big payout for holding stablecoins there. they're fishing for exit liquidity.

how much you wanna bet this is a partnership with a bank searching for home loans to swap at the fed window?

>>55948511
>>55948469
>>55948522
>>55948534
>>55948588
Cope.

>>55948412
Won't change anything. If someone can't even save 3% there's no way they're going to be able to afford that mortgage. This may have been a good move for people with high income and no savings who wanted to get their foot in the door back when prices were still rising rapidly, but now that prices are more stable the urgency is gone.

what a bargain goy!

>>55948412
>Demand for houses is so strong and totally wasnt artificially propped up by the fed buying MBSs and low interest rates. Theres a heckin supply shortage!
>Thats why homebuilders are buying down rates and everyone is offering 0 down mortgages!
>buy now or be priced out forever!
I know you made this thread as a joke but there are actually people who believe this shit.

>>55948897
You're forgetting PMI since the loan falls under a 20% down payment. Throw in another $120/mo for that

>>55948582

lol haahahaha

>>55948412
buy my bags, Imagine buying cardboards instead of donuts!

>>55948412
They already have that. It's called an FHA loan.
My reason is still the same, kike firms and kike landlords keep buying everything up and artificially increasing prices. You can't even buy a shack in the middle of nowhere without paying a small fortune

>>55948412
Corporations should be banned by the municipality government from buying sfh

>>55948582
Yeah, comfy as a motherfucker watching REfags begging for exit liquidity. Housing has a long way down

>>55948412
Oh boy, 1% on a $500k house with 7% interest surely will be a low monthly paymen!

>>55948971
And tack on another $300+ in property taxes. Fuck being a home poor faggot

SFH prices right now make a $100k studio with $250/mo HOA seem like a steal.

Fucking doomers acting like this blip is the end of the world, their lives are ruined, and they'll never have a home.

>>55948412
This isn't a good sign my man.

Does this mean housing prices will finally start going back down or going up even more?
Finally moved into a position where I can stop renting but unless I want to drive 40 minutes all houses near my work are too expensive now.

>>55950484
We're at the stalemate phase before principals are affected. Housing is unfortunately glacial in speed.

>>55948412
> entire business model based on rising prices and real estate turnover
> market dead and falling
> tries to prop up market
Not holding your bags

>variable APR
Yeah, the down payment is the problem...
Idiots.

>>55950455
Yes the situation is comparable when homes cost 2x salary decades ago and are now what 4-5x average, cost of everything has gone up but wages have not kept pace. Massively inflated housing bubble can definitely keep going up forever, This time it's different right?

>>55948412

Renting is still cheaper, but I am nervous that if the rent/mortgage ratio flips both will still be way too expensive.

>>55948971
Also lol at 280/mo in property taxes in my area it's more like 1k/mo(yes, I plan on leaving)

>>55950455
As the other person who replied pointed out, prices are still astronomically high. In the past high interest rates=price goes down. That's not happening and probably won't happen in most areas.

high interest rates + high prices = violent ass rape

>>55950526
>mfw Americans act like it's normal to fix an interest rate for 30 years

>>55948602
You're the one defending 0 down mortgages baggie, you're doomed

>>55948412
>1%
LMAO i can't even afford 1 ETH right now

>>55950803
kek this fuck boomers and their home bags

wait to buy them at the bottom when boomers are desperate to liquidate for the nursing home

>>55948897
Maybe don't buy a house in fucking florida?

>>55948582

That's what it looks like. Please please please buy my bags!

>>55950436

Tack on another $500 a month for HOA, goy. With water, power, sewage, and other fees you're looking at close to $5,000 a month for that.

>>55948534
Since when? The biggest rentoid complaint is 'muh rent is more than a mortgage but I can't afford a down payment.'

>>55948412
>What's your excuse now, rentoïd ?

Imagine being you, accepting a "mortgage" and paying "property tax" but believing you are not a tenant, even though you are listed as a tenant on your deed, which is also worthless. LOL

>>55950992
>Not tendering payment with self-printed negotiable instruments per UCC 3-603.

NGMI

>>55948897
>No HOA fee
Enjoy buying a house from 1938!
>No pmi for 1% down
Enjoy an extra $250/month!

>>55948897

>median home
>payment is greater than 100% of median income

>>55948447
Most people would starve to death if they bought at these prices. My coworker bought about 7 months ago and he just found out that his 30 year mortgage became a 34 year mortgage in less than half a year. His payments didn't go up but they keep extending the amount of payments he will have to make.