Welp, we’re fucked

[Anonymous No.49896126]

https://www.cnbc.com/amp/2022/06/22/demand-for-adjustable-rate-mortgages-surges-as-interest-rates-jump.html

How bad is it gonna get bros? My brother is trying to buy a house in the Houston area, I’m trying to convince him not to. Hopefully he isn’t dumb enough to get an adjustable loan to do it

[Anonymous No.49896202]

I'm a total retard so tell me if I have this right

People, in the face of 7-8% interest for fixed rates, are going in on ARMs because those still offer 3-5%, not realizing that in 3 years they'll jack it up to 15%?

Well that's gonna end well

[Anonymous No.49896281]

>>49896202
Most people have no idea what the federal reserve is even doing. I could walk up to ten random people and ask them and they wouldn’t have the slightest clue that the federal reserve is raising rates, or what those rates mean for mortgages.

[Anonymous No.49896288]

>>49896126
I'm house illiterate. If I want to buy a full home in cash, how fucked will I be?

[Anonymous No.49896366]

>>49896202
It wont end well for the people getting the ARMs.
People who scooped a fixed rate mortgage before the interest rate hikes will make out like bandits since average homes price will likely surge to ~$800K on the back of ARMs and continued supply shock.
Then Bobos will be able to grab some nice $600K "cheapies" once 2008 round two happens.

[Anonymous No.49896450]

>>49896288
Are you buying as an investment? If so, you could lose a lot of money short term but be ok several years later, maybe. If you are just trying to have a house to live in the rest of your life then you can’t really go wrong

[Anonymous No.49896471]

>>49896366
rising interest rates will cause home prices to fall, not rise retard

[Anonymous No.49896505]

>>49896450
Just a house to live in. I think it's retarded to treat real estate as a speculative asset. It makes me sick.

[Anonymous No.49896557]

>>49896126
>My brother is trying to buy a house in the Houston area

mmm can't wait to get lung cancer from breathing hexane smog while sitting in traffic during the 1.5 hour commute to my wagie job

[Anonymous No.49896620]

>>49896505
We’ll then if you’re paying cash you’re golden. I mean, don’t buy something that’s obviously way over priced but get a good house you’ll be ok

[Anonymous No.49896642]

>>49896505
hey, cool it with the antisemitism

[Anonymous No.49896742]

>>49896366
Until banks enact the clause that allows them to adjust rates in "unprecedented conditions".

[Anonymous No.49896774]

>>49896288
With full cash it doesn't matter unless you plan to flip.

>>49896471
Oh right, that's why houses were on sale in the 1980s when Volcker did the thing! Houses didn't continue climbing upward, proving that there was no correlation between fed rates and housing prices... Must have imagined that. Darn.

[Anonymous No.49896803]

>>49896505
You have to when you're buying an asset on leverage, i.e. a mortgage

[Anonymous No.49896804]

>>49896126
What does this imply for people who own a lot of prop/ houses? Are they finally getting a beating? Especially in expensive areas I’m assuming

[Anonymous No.49896880]

>>49896742
Post where such a clause exists in the average fixed rate mortgage paperwork.

[Anonymous No.49896911]

>>49896804
If they’re adjustable then yes they are going to get reamed so hard they won’t know what to do with themselves

[Anonymous No.49897000]

>>49896366
Goin in my housie cope folder ty

[Anonymous No.49897036]

>>49896126
>>49896202
>tfw I just got a mortgage with 5% fixed rate

[Anonymous No.49897058]

>>49896911
Adjustable doesn’t not happen anymore I thought in US , at least a very small percent

[Anonymous No.49897091]

>>49896202
These people have no choice but to gamble that rates will come back down. I personally know 3 people who will be forced into bankruptcy if rates don’t come back down in the next year or so, and that is excluding any future rises in cost of living

[Anonymous No.49897096]

>>49897058
Did you not see the picture in the op?

[Anonymous No.49897112]

>>49896288
Always buy cash when you can. I have paid $1100 a month for 3 gears on a 130k loan. I still owe 126k. All I am paying is free money to jews and taxes. I'm basically renting.

[Anonymous No.49897114]

If I have an 800 good goy score does that help when interest rates are going parabolic?

[Anonymous No.49897125]

>>49897096
Oh I see, so we are kind of in 2006 ish territory

Captcha : XAN4X

[Anonymous No.49897163]

>>49896126
>Bought a house last October
>$420k
>$2.5% fixed
>Solar completely paid off
>Electric stove
>Started a new job making 6 figures so now I can put more toward the principle each month.
>Just got approved for $30 off internet bill each month

Feels good.

[Anonymous No.49897179]

>>49896126
What the FUCK is wrong with goyim cattle? Why would anyone look at the state of the economy and go into adjustable rate

[Anonymous No.49897194]

>>49897058
It still happens, but only retards and degenerates get them in the current environment, and especially after 2008.
It CAN be smart to get an ARM when it's reasonable to assume that the fed has capped out on hiking rates and will only cut for the forseeable future (e.g. immediately *after* the Volcker hikes), but because voluntary refinancing is an option with fixed rate it still errs on the side of reckless to choose the ARM.

[Anonymous No.49897211]

>>49897125
Kek, looks like it. This might keep the bubble going for another year or so. I think if inflation doesn’t cool off and fed rates start approaching 3% it’s over. And we have 2 more years of biden. Not looking good

[Anonymous No.49897215]

>>49897036
>t.3.85% 30yr fixed

[Anonymous No.49897224]

>>49897163
>solar

Cuck

[Anonymous No.49897237]

>>49897163
>paying off more principal then needed in a inflationary environment.

[Anonymous No.49897255]

>>49897179
Desperation. A lot of people are getting nervous because rates are going up and housing prices aren't crashing down like Reddit promised they would.

[Anonymous No.49897283]

>>49897215
>not a 15yr 2.5%
N
G
M
I

[Anonymous No.49897375]

Unless you're stupidly rich, living on your own seems like a fool's endeavor. I'm at a point in my life where I could afford to move out of my parent's house into my own place, but holy shit it's expensive just for the privilege of having your own personal shelter. I would be spending most of my income just for that privilege and that's so fucked up. It's not just that, living on your own is making a promise that you will continue giving away most of your income for the next 30+ years.

I want the housing bubble to burst and the next golden bullrun to happen where it makes sense to buy a house, it becomes a "no brainer" thing as if housing only cost $50k and you're done.

[Anonymous No.49897377]

>>49897283
i pay more each month so it'll effectively be a 20yr mortgage, but 15 at 2.5 sounds comfy as fug

[Anonymous No.49897518]

>>49896126
This is either fake or it's Zoomers doing this. Anyone who remembers 2008 wouldn't dare get anything but fixed rate. The PTSD is still present.

[Anonymous No.49897575]

>>49897237
Explain.

[Anonymous No.49897620]

>>49897518
It’s millennials. Most of them don’t know anything about why 2008 happened

[Anonymous No.49897804]

>>49897036
I refinanced during Covid, I think a lot of people did.
>3.125%

[Anonymous No.49897812]

>>49896366
>thinks when people cant afford to make mortgage payments it increases the price of their home

you lack an internal monologue dont you

[Anonymous No.49897913]

>>49897812
>when people cant afford to make mortgage payments
It's OK, the rent you split between yourself and your two roommates will more than cover your landlord's mortgage.

[Anonymous No.49897917]

>>49896288
Make sure you have a paper trail for where you got the cash. Banks are really gay about that.

[Anonymous No.49898025]

>>49897036
3.25% reporting in

[Anonymous No.49898055]

>>49897283
>Not a 10 year at 2.1%
N
G
M
I

[Anonymous No.49898077]

>>49897237
>just give free money to banks and you win bro

[Anonymous No.49898103]

>>49898077
yes

[Anonymous No.49898133]

>>49897112
>making minimum payments

[Anonymous No.49898173]

>>49896126
I remember being a freshman in high school circa 2003. My algebra teacher did a simulation (on the chalk board in this day) for fixed vs ARM mortgage rates. It was my first interaction with finance and stupidity; 5 years later, in college, I saw the direct result.

[Anonymous No.49898184]

Housing crashes in slow motion remember that in 2008 housing didn't bottom until 2011-2012. There are price cuts all over right now but we won't know how bad this will be for a year or so. (if there even is a crash).

The issue right now is that supply is low so there's no real reason to lower prices. Also with higher rates people are reluctant to sell at a loss and then only be able to get a mortgage that has a much higher rate than they had before.

So my view is that in the short term prices will remain static but the volume of sales will greatly diminish. Home sales and flips will be a fraction of what they were six months ago.

[Anonymous No.49898226]

>>49898077
The interest is the free money for the bank, which extra principle cuts short, especially during the front loaded interest period. Even in an inflationary environment extra principal is ok. Even 100$ will cut out years on your mortgage. Maybe land lords see this differently.
>captcha 44gas

[Anonymous No.49898241]

>>49898133
If your rate is low enough, why not? Can invest the money somewhere else and make more than your 3-4% mortgage (if you refinance during covid). Plus your mortgage just gets inflated away anyway. Win win

[Anonymous No.49898270]

>>49898133
>making payments at all

You PAID for your house? What trash.

[Anonymous No.49898295]

>>49896505
You're gonna make it friend. I keep posturing this over and over and all the shills on /biz/ screech but the best time to buy a house is when you have the means to afford one and want one. Nobody knows the future. Houses are historically an awful investment but we just had a 10 year bullrun on housing. But what is the alternative? Live in an apartment and constantly move? Even in 08,prices only dumped like 30 percent. Maybe we get more but I'm increasingly doubtful that this is going to happen.

I think I'm gonna try and buy a home next year regardless. I don't care about it. I want to have a garden, pets, my own space to live. Or I may buy my mom a place and then when she moves I will rent it out. Idk.

[Anonymous No.49898335]

>>49897255
People need to learn that these things take time. We're only on the second rate increase of 4-7. The speculators still have equity that they're working on pulling cash out of; only when that is exhausted will we start to see panic in the housing markets.

[Anonymous No.49898366]

>>49898184
Agreed. The wild cards this time are the crazy amount of over leveraged and clueless landlords, helocs, and airBNBoomers. In a year when it comes tumbling down what happens? Rent spikes to ridiculous levels? Or we see mass defaults and supply gets flooded like 2008. Like another anon said, we are probably around 2006 in time frame

[Anonymous No.49898385]

>>49897375
Yeah, 6 months to a year from now things will be much better. You should definitely start putting away money for a downpayment as soon as possible, though!

[Anonymous No.49898402]

>>49898295

Speculation on housing is the ultimate boomer myopic plan for societies. If you make things hard or impossible for young people to own homes and start families then you start a civilization death spiral where your population collapses. Western governments use mass immigration to mitigate this but in the long run experience cultural dilution and destruction of precious genetic stock that is gone forever.

“A society grows great when old men plant trees in whose shade they shall never sit.”

Housing speculation is cutting down those trees for profit.

[Anonymous No.49898403]

>>49897036
Got 4.3% fixed
If I found my house just a couple months earlier I would've got 2.15%
Oh well

[Anonymous No.49898423]

>gloating about having debt when rates are going up
/biz/ sure is a fun board
simply ngmi

[Anonymous No.49898469]

>>49898423
We need any win we can get in clown world

[Anonymous No.49898517]

>>49898241
>If your rate is low enough, why not?

Only because the stock market is going to have negative real returns over the next year or so.

[Anonymous No.49898601]

>>49898366

Out of control inflation and gas prices are already eating up all of the reckless speculators and people that were house poor and barely making it before expenses multiplied. As the recession/layoffs/hiring freezes/no raises continues those people will start to default more and more.

So basically the longer Biden is in office the greater chance we have of an economic meltdown. They will give billions to drag queen story hour before they will attempt to help economic issues.

[Anonymous No.49898781]

>>49897036
Locked in a 7yr fixed at 3.39% this spring
Best I could manage in Leafland, had to break my prior term a year early and pay a penalty, but it will have been worth it

[Anonymous No.49898784]

>>49896281
shit I'd be amazed if any of them knew that the federal reserve exists

[Anonymous No.49898885]

>>49898601
Trying to figure out what will act in place of credit default swaps. Something sinister for sure

[Anonymous No.49898956]

>>49897036
2.8% here. Feels good man.

[Anonymous No.49898979]

>>49898781
>leafland
There's no fixed rates there. You'll get readjusted in 5-7 years.

[Anonymous No.49899001]

>>49897194
ARMs are probably a bad idea, but they aren't that bad. The horror stories from 2008 weren't normal ARMs, they were pick-a-payment mortgages. You could get a loan for a house that allowed you to pick one of three payments - positive amortization, interest only, or negative amortization. Many people only chose the lowest payment, and after the outstanding balance reached, say, 110% of the original loan the options were withdrawn and you could only make positive amortizing payments. These are the people with "ARMs" that had their payments double. I don't see a lot of discussion about this probably because it makes the homeowners look like fucking retards. Anyways this type of mortgage is no longer obtainable.

[Anonymous No.49899083]

>>49898979
I only have 4 more years on my mortgage after that, we'll manage just fine

[Anonymous No.49899117]

>>49896202
My financially responsible cousin who's done well all her life married a psycho who pressured her into cosigning a mortgage for a $900k house this summer and I fell ill thinking about it.

[Anonymous No.49899135]

>>49899001

>payment doubles 5 years into the loan
>defaults

Many such cases

[Anonymous No.49899169]

>>49899117

>I fell ill thinking about it.

Exactly. You are the one that should have impregnated her but you weren't man enough.

[Anonymous No.49899172]

>>49896202
>>49896126
How are ARMs still even legal? I would've thought they'd ban them after 2008. Are they at least heavily regulated or something now?

[Anonymous No.49899263]

>>49897215
>>49897283
>>49898055
>>49898403
>>49898781
>>49898956
Hope y'all are able to keep your jobs.

[Anonymous No.49899346]

>>49899263
I'm a welder-fabricator and my current job is unionized and directly related to construction and public infrastructure, if I go down pretty much everyone else will

[Anonymous No.49899387]

>>49899346

I agree. this time its different.

[Anonymous No.49899411]

>>49899263
In the 2008 crash my employer didn't lay off a single person. It's a relatively stable industry and I do software development for them which is a pretty easy field to find new employment in.

[Anonymous No.49899413]

>>49897036
2.25 and loving it

[Anonymous No.49899457]

>>49896281
Not only are they raising rates they are still printing so retail investors or first time home buyers are priced and and getting fucked both way.

T. Landlord whose property tax is almost greater than the rent roll because

[Anonymous No.49899458]

>>49896880
don't worry. they will figure out a way to cuck you through legal fuckery.

[Anonymous No.49899459]

My mom's mortgage is 7.2% still. Should I try to move her? Or is it not worth the effort right now? I tried to refinance but they didn't like some of the structural shit. Figure I'll need to move her in another year anyways so not sure if I should just wait or what

[Anonymous No.49899578]

>>49897036
Brother got his at 1.25 % fixed for 15 years, literally bottom, built a nice house with his girl, genuinely jelly, could have done the same if i had a girl.

[Anonymous No.49899585]

>>49899459
Housing values are about to crash and interest rates haven't even begun to peak yet

[Anonymous No.49899616]

>>49899578
Statistically they'll be separated in 5 years and he'll either forfeit the house to her or it'll get sold.

[Anonymous No.49899618]

>>49898184
People are leaving this country willingly left and right. I don’t think anyone predicted nor realize that with remote jobs you no longer have to be trapped in USA.

You can live like a king for 1500 a month in Thailand, Mexico, Portugal, Costa Rica, and more. Government will literally have to open USA borders to all third world countries to keep people here the way things are going. I do see demand dropping fast in USA.

[Anonymous No.49899668]

>>49899616
Slavs don't divorce. Sure, we may committ genocide on one another, but we're faithful to our partners.

[Anonymous No.49899698]

>>49899618
You’re not allowed to work remotely in other countries and keep your US salary. It’s illegal. If you move to Thailand you will be paid Thailand wages (IF your employer even does business there).

[Anonymous No.49899757]

>>49899668
>Slavs don't divorce

[Anonymous No.49899763]

>>49899346
>if I go down pretty much everyone else will
bet
>>49899411
Are you overpaid?

[Anonymous No.49899768]

>>49897036
2.2 reporting in. Big shoutout to the veterans discount! The gift that keeps on giving.

[Anonymous No.49899897]

>>49899763
don't you have 3 boboposting threads to tend to

[Anonymous No.49899958]

>>49899897
Yur in one.

[Anonymous No.49899977]

>>49899618
That's bullshit and you're clearly pulling things out of your ass. See >>49899698

[Anonymous No.49899987]

>>49899698
I was talking more from a retirement standpoint. I have to check again but I believe in Thailand you can work remotely under the elite visa. You just can’t work for a business in Thailand but you can freelance and get US clients to pay you. Just more money in Thailand economy which is what they care about.

[Anonymous No.49900021]

>>49897224

The way he put it, it might be one of those power company deals where they give you credit during low usage months.

That's not too bad a deal, but the math usually doesn't shake out.

[Anonymous No.49900080]

>>49899668
as a Slav, lol

[Anonymous No.49900107]

>>49899172
>how are 30 year mortgages legal?
Is what you should be asking.

[Anonymous No.49900151]

>>49899698
You’re full of shit. Countries like Croatia specifically have 1 year digital nomad visas. It’s also trivial to buy a green card in poorer countries so you could do that and avoid paying u.s. taxes

[Anonymous No.49900300]

Guess the "1st world" country
daily concerns include:
>priced out of a literal wooden shack
>gorrilian dollar healthcare the minute you stop wageing
>young population punished for seeking education via 60k avg student loans
>#1 cause of child death is bullets
>democratic processes regularly subverted or impeded
>worse internet than poo in the street countries
>reproductive medical care based on local feudal lords adherence to the local ooga booga jew on a stick worshipping shaman
>Prison system based on slave labor
>Ritaul military worship
>Public Highways ways owned by private entities

[Anonymous No.49900305]

>>49896202
>>49896366
what you don't realize is that these fucking retards will get bailed out with your tax money because you can't win an election if retards don't vote for you

[Anonymous No.49900345]

>Debt slaves gloating about their debt

[Anonymous No.49900351]

>>49896366
>avg home prices will surge to $800k because people are getting ARMs
Lmfao @ your delusion

[Anonymous No.49900378]

mortgages will go up and prices may stagnate but they will not drop dummies- there is no inventory.

[Anonymous No.49900394]

>>49896202
Just because they *could* raise the rate on me later doesn't mean they will.
Meanwhile I'm getting a hot deal so might as well just go all in and hope for the best.

[Anonymous No.49900561]

>>49896774
>What is a bubble

[Anonymous No.49900707]

I just love seeing all the roastie realtors clawing one another over customers as there are so few houses on the market. I had a realtor neighbor start seething on the community FB group as several people sold recently but no one reached out to him.

[Anonymous No.49900855]

>>49900378
Watch how much inventory pops up when these degens start running out of cash to keep their infinite debt cycle running.
You people are delusional thinking real estate is some magical asset class which will be unaffected by a literal recession. May God have mercy on your poor soul

[Anonymous No.49900856]

>>49896281
The federal reserve has no effect on interest rates whatsoever, retard.

[Anonymous No.49900876]

>>49899263
My mortgage is cheaper than most people’s rent. If I lose my job i’d still have to pay rent which would be more than my mortgage.
>>49900345 Don’t forget to pay your landie on july 1st.

[JPMorgan No.49900925]

>>49896126
Oh yeah, it's all coming together.

[Anonymous No.49900977]

Why are ARMs demand going up NOW? Wait a year when interest rates peak.

[Anonymous No.49900983]

>>49897112
all home mortgages front load the interest, every payment you make will be for less interest, and more principle

[Anonymous No.49901027]

>>49896774
>there is no correlation between interest rates and housing prices
>average home price in 1980 was $47,000 compared to $500k (at least where I live)
You’re a retard.

[Anonymous No.49901055]

>>49900856
wat

[Anonymous No.49901093]

>>49900856
>The federal reserve has no effect on interest rates whatsoever, retard.

If you truly are this ignorant, look into the reserve rate and mortgage backed securities.

[Anonymous No.49901097]

>adjustable
But why.

[Anonymous No.49901121]

>>49900305
LAND OF THE FREEEEEEE

[Anonymous No.49901164]

>>49900021
To clarify, the house already had solar and part of the sale was that the previous owner would pay off the entire remaining balance on solar.

I have not had a $0 electric bill in 10 months of living here.

[Anonymous No.49901274]

>>49896774
>statslet doesn't understand what he's looking at

Many such cases.

[Anonymous No.49901388]

>>49900876
Enjoy that unexpected maintenance bill and the bank kicking you out of THEIR house. You still renting from a bank idiot.

[Anonymous No.49901486]

>>49899172
>Are they at least heavily regulated or something now?
Yes, but all of the post 2008 regulations have long since been circumvented by banks, so no.

[Anonymous No.49901534]

>>49896880
>>49899458
The rate isn't just tbe issue. Property taxes will start to increase due to comps and the values will drop hard. So you are paying a 800k mortgage on a house worth 400k.

[Anonymous No.49901631]

>>49901388
>He doesn’t have enough liquid assests to pay off his mortgage in full nor the skills to maintain his own home
N
G
M
I

[Anonymous No.49901736]

>>49896126
I don't understand the mindset that gets an adjustable rate mortgage. Especially when interest rates are on the rise. Why not just get a fixed rate and then refinance if/when rates fall again?

[Anonymous No.49901809]

>>49896366
This man gets it. Checked. If you didn't buy before the rate hikes you're either going to get fucked by higher prices, higher rates, or both. And when it finally "crashes" it's still going to be expensive because of the still restricted supply.

[Anonymous No.49901912]

>>49896126
I saw some nice 200k homes in Iowa.is it worth it to be a mortgage cuck in Iowa.

>asking for a calicuck friend

[Anonymous No.49902019]

>>49898226
That $100 could have gone to levering up and buying more assets that will appreciate faster than the extra interest you would be paying. At least that's the inflationary theory. I don't like being in debt in general.

[Anonymous No.49902041]

>>49897036
4.6% 30 fixed reporting in. Could have gone a lot lower but I was on the fence about moving last year. Oh well. It's better than being a rent cuck.

[Anonymous No.49902469]

>>49900345
>Wage cucking to be a rent cuck
>He thinks it's not debt if he doesn't own the asset
Ok. Don't pay your rent and tell me how your credit score looks.

[Anonymous No.49902499]

>>49896202
>not realizing that in 3 years they'll jack it up to 15%
Or they'll stay low for the next 20 years like in Japan.

[Anonymous No.49902544]

>>49896202
Question, if interest rates get really high (like over 10%) are ARMS a good deal then? Can you refinance from an ARM to a fixed mortgage when interest rates dip later?

[Anonymous No.49902572]

>>49897036
Got 3% myself.
>Tfw that's actually a shit rate because I live in Europe and some people got 1.35% last year

[Anonymous No.49903076]

>>49900876
>Mortgage
>Cheaper than a paid-off car and a storage unit
Doubtful.

[Anonymous No.49903178]

>>49901809
This is a cope on the same level as, "Inflation is transitory." Supply is going to go up. People will flip building codes the bird and build what they need to live in, if need be, but I suspect that Boomer retirement flood + Millennial insolvency flood + Banks going under will do it on their own.

[Anonymous No.49903309]

>>49903178
>People will flip building codes the bird and build what they need to
That's not how that works. See California. Supply is increasing but it's outpaced by population growth and large investment firms buying up all of that supply. You don't have to believe me though. Keep renting hoping for a crash. In 2 years maybe you'll get a 20% drop after the costs raise another 100%.

[Anonymous No.49903355]

>>49902544
you could but it would be the bank making all the money from that transaction
they took the risk (on the debt side), they take the profits

[Anonymous No.49903505]

>>49900856

[Anonymous No.49903533]

>>49896126
this is the most bullish news ive ever seen. BUY IN NOW BEFORE ITS TOO LATE

[Anonymous No.49903585]

>>49896202
They can't jack it up that high if they want to get it into a Fannie Mae MBS.

[Anonymous No.49903638]

>>49900151
Wut? If you're a US citizen or greencard holder you can't avoid US taxes unless you give up your citizenship or greencard. We are the only country that taxes you on overseas income. It used to be because being an American came with real privileges, but the world's moved on and become more competitive.

[Anonymous No.49903662]

>>49903309
>Supply is increasing but it's outpaced by population growth and large investment firms buying up all of that supply.
You don't seem to understand. You know permitted ADUs? There will be an explosion of non-permitted ones. People will build in housing where it's not allowed. People LEAVE the country during a recession (or, at least, the influx slows). People will live in their cars. People will squat in foreclosed dwellings.There's going to be a cascading failure of asset prices driven by the simple fact that people won't be able to afford them, and it's going to lead to a flooded market, leading to further price drops.Cats and dogs living together etc.

[Anonymous No.49903697]

>>49903309
>large investment firms buying up all of that supply
They're literally dumping that shit right now. Oh let me guess, black rock will come in and buy all the cheapies at -10%? No you fucking tard, they bought all the way up and they'll sell aaaaalllll the way down. The best inventory goes first, and near the bottom they will absolutely flood the market with crap to push the price down so they can buy better stuff on extreme discount. These megacorps don't want line always go up. THEY WANT CYCLES. Deep ones.

[Anonymous No.49903772]

>>49900300
>>Public Highways ways owned by private entities
We have one good thing going for us.

[Anonymous No.49903776]

>>49903662
>People will break the law
Ok have fun waiting on that

[Anonymous No.49903804]

>>49899172
None of the 2008 regulation apply to small regnal banks lending. The heavy regulations only apply to the big boys. That's how lots of people are getting those HELOC to buy second homes.

[Anonymous No.49904030]

>>49903776
Rather than die in the streets or starve to death, house-poor? Yes.

[Anonymous No.49904398]

>>49903697
Exactly. Much more money to be made in cycles in the long run. What is better than a 10% return? A 100% return when market is down and cheap to get in.

[Anonymous No.49904413]

>>49904030
Again, see California.

[Anonymous No.49904514]

I live with my gma in California, but I manage her finances, do her taxes etc. Currently he has a 4.5% interest rate loan on like 300k, the house is now "worth" like 1.6 million (mainly because my late gpa took out money to invest, etc).

Anyways I looked into her refinancing at the height of covid for like 2.5%, but the "pay no fees" refinancing fees would have been too high, it only would have started making her money in 13 years, which I didn't think was likely (shes 84). Plus the mortgage payment write-off helps her a lot with taxes.

Was this a smart move?

[Anonymous No.49904683]

>>49903638
I think you only have to pay US taxes if you make 105,000 dollars or more. This law in place to stop wealth fleeing.

[Anonymous No.49904703]

>>49904413
Tentsville, Southern California doesn't get freezing temps for half the year, or even much rain. Everywhere else does. And that's assuming that Cali doesn't get worse as the rest of the country becomes like Cali.

[Anonymous No.49904843]

>>49898055
10 year and above 1.59% ?
NGMI I'm afraid

[Anonymous No.49904867]

>>49904683
Nice try buddy. The long arm of uncle sam's IRS demands payment and will fuck your asshole raw if you try to avoid it. If you make an amount that would make you owe taxes domestically, you owe taxes abroad.

https://www.irs.gov/individuals/international-taxpayers/us-citizens-and-resident-aliens-abroad

[Anonymous No.49904876]

>>49900856
kek, paid democratic shill
>>49903505
kek

[Anonymous No.49906093]

I have a variable rate but I live in Canada where you can't lock it in for 30 years. My 2% fixed rate expired.

[Anonymous No.49906161]

>>49904876
>paid democratic shill
more likely someone in denial who purchased a home in the past 3 months via an ARM

[Anonymous No.49906206]

>>49899346
based day of the weld

[Anonymous No.49906248]

>>49896126
Don’t. It could go as high as 13% in a year or two. No one talks about the 80s and their 14% interest rates that lasted a few years. Took many more to slowly come down.
The only time to get adjustable mortgage loans is if it’s above 11% in my opinion. Otherwise you could be wiped.
Remember, our m1 reports have been so bad that they changed the way they do the M1 reports last year.
It’s likely to get worse than the 80s too because we’ve lost supremacy in the world. Look what happened with the Saudis few months back with oil purchases. Look what’s happening with India. US petrol dollar is under threat which puts other aspects of the economy at risk.

[Anonymous No.49906258]

>>49904703
Which is why people move there to be homeless. They're not breaking zoning laws to avoid homelessness. They can't because the city would just bulldoze and arrest them.

[Anonymous No.49906286]

>>49904867
Filing is not the same as paying taxes. Also, according to this article https://www.greenbacktaxservices.com/blog/paying-taxes-american-living-abroad/ we can exclude 108,000 dollars.

[Anonymous No.49906429]

>>49904843
whose daughter is this?

[Anonymous No.49906479]

>>49896202
People know the Fed will be forced to lower rates by the time their ARM rate expires and they’ll refi to a lower fixed rate

[Anonymous No.49906603]

>>49898173
damn youre old lmao

[Anonymous No.49906641]

>>49897620
This. Unless you were curious and found out yourself what happened in 2008, or have a person that is fiscally literate tell you what to do when getting a mortgage, millennials have no fucking clue.

If anything, they'll know that it had something to do with housing going bust, but could not tell you why.

[Anonymous No.49906875]

>>49896126
>How bad is it gonna get bros? My brother is trying to buy a house in the Houston area, I’m trying to convince him not to. Hopefully he isn’t dumb enough to get an adjustable loan to do it
jfc, he deserves whatever happens if he goes through with this

[Anonymous No.49906920]

>>49896288
debt fags will argue some shit about you can earn more in a bond than mortgage interest or some shit.
they are retarded.
if you can pay cash, fucking do it. I just paid my house off with 14 years left on the mortgage when ether hit 4700, fucking awesome owning it outright.

[Anonymous No.49907001]

>tfw Ausfaggot banks only fix for like 5 years tops, then just goes back to the normal variable rate

3 years fixed at 1.94%, best I could do. ;_;

[Anonymous No.49907072]

>>49899457
can't wait until it feds thru into your mortgage or if you own outright tanks your asset

[Anonymous No.49907092]

>>49896557
God Texas is such a fucking ugly state

[Anonymous No.49907120]

>>49901274
You sure about that?

[Anonymous No.49907161]

>>49899698
...what? You can't work for an American company abroad? International corporations don't exist? Do you actually believe this?

[Anonymous No.49907173]

>>49903178
>supply is going to go up
>why? BECAUSE IT JUST WILL!
lol

[Anonymous No.49907192]

>>49904867
>Filing a tax return means paying taxes
You're too dumb, this has to be a troll. You know people on social security still file taxes? FILE as in SUBMIT. HAS NOTHING TO DO WITH WHAT IS OWED.

[Anonymous No.49907284]

>>49899618
>Government will literally have to open USA borders to all third world countries to keep people here the way things are going. I do see demand dropping fast in USA.
Open borders raises demand for landlords. The immigrants will have to rent from someone. If you think housing prices are high now and you also believe we are due for open borders, you haven't seen nothing yet.

[Anonymous No.49907305]

>>49900305
>what you don't realize is that these fucking retards will get bailed out with your tax money because you can't win an election if retards don't vote for you
Sounds like a neat way to firm up the price floor.

[Anonymous No.49907317]

>>49896126
AHAHAHA This is the funniest shit ever.
Blacks are going to fall for it hook line and sinker AGAIN! You can't make this shit up!

[Anonymous No.49907424]

>>49903662
Good thing they privatized the prisons.
Sounds like nothing some $GEO call options cant fix.

[Anonymous No.49907733]

>>49897036
2.75% 30 year gigachad here.

[Anonymous No.49907802]

Woah!!! How worse will things get before they get better if i may ask? Well they up alright, get you some of this or go piss off somewhere

[Anonymous No.49907882]

>>49900983
Wait, so interest isn't added monthly/yearly, it's all added immediately after you take out the loan? How do they know how long you'll be paying off the loan, or do they just assume you'll be paying the minimum monthly and just add the entirety of the interest based on that? Sounds like the most Jewish thing I've ever heard if true, but it sounds too Jewish to be real.

[Anonymous No.49907887]

Looks like my “starter home” is gonna be my forever home lads. Should have refinanced at the lower rate but planned to move. Now the market is just fucked entirely.

Oh well. Ill get used to my hick neighbors and do some renovations

[Anonymous No.49907917]

>>49906258
I don't understand why you're still operating under the assumption that the millions of people who are about to be housing insecure will all want to or have the means to move to California, or that Californians won't try to find ways to avoid the conflicts that are going to arise around tightening circumstances for unhoused people. That population is increasingly going to threaten to include people who still have connections and means, just not enough to do things above board. Because of those connections and means, though, they'll never get to the point of homelessness; they'll simply find ways to live illegally in shelter.

[Anonymous No.49907937]

>>49907173
It says why right there in the post, dingus. A bunch of consoomers who can't/won't hang on to their properties, and banks who can't/won't buy them, either.

[Anonymous No.49907967]

>>49907424
They just had to let tons of criminals out of prisons recently because
get this
wait for it
oh it's a doozy
they didn't have enough space to house them.

[Anonymous No.49907970]

How can it be a fortune 500 company??? Are several other companies a joke to you? But to be honest, I wouldn't be shocked if bitcoin really does this actually. We can only speculate its movement, but in all, we believe and agree it'll rise to the occasion. And I don't just believe it's bitcoin that would, syscon would too...

[Anonymous No.49908066]

>>49897375
Grow up and move out. You seem to make a lot of excuses and your parents aren’t proud

[Anonymous No.49908119]

>>49896774
I don't think MBS products were a thing yet, so banks would have been more sensitive to housing default risk rather than just degenerately lending at fed rate. Fed rate influences mortgage rate a lot now because that's where they get their money to offer the housing loan in the first place. Once they sell the mortgage onto the market, it's not their problem anymore.

[Anonymous No.49908163]

>>49898241
If you have a non-defaultable bond paying above your interest, then I guess so. I would not suggest equities, any losses would wipe you out and you'd lose your house.

[Anonymous No.49908548]

>>49907284
Good luck getting immigrants with little to no education to pay for your homes. You are still at the mercy of wages and if all the smart US citizens with money leave this country you ain’t getting shit.

[Anonymous No.49908640]

>>49907967
So you're saying there's demand for private prisons? Good thing Biden told the states to use leftover COVID funds for law enforcement this summer!

[Anonymous No.49908756]

>>49907882
You can deduct mortgage interest on taxes. Which means that if you flip the home before the front loaded interest payments run out (even if you flip at a loss) out then you can walk away with [the remainder of this thought is left as an exercise for the reader]

[Anonymous No.49908790]

>>49907937
Try telling that to New Yorkers.

[Anonymous No.49908825]

uh i plan on leaving los angeles and moving to south carolina to buy a house, i will live in it for at least 4-5 years, am i screwed?

i own my business that is doing well and can't get fired

[Anonymous No.49908866]

>>49896126
>While these loans are considered riskier, because they have the potential to adjust to higher or lower rates, they are underwritten much more strictly than they were during the last housing boom more than a decade ago that eventually led to an epic housing crash.
Its different this time chuds. The will be no crash. Buy now or forever be priced out.

[Anonymous No.49908925]

>>49908548
They dont have to pay directly for homes. They pay the rent and live 3 to a bedroom.

I think a lot of rentoids here would be well served to compare landlording to selling call options to people who are too poor to buy stock. Understanding the relationship between demand for derivatives and price of the underlying might make the relationship between rental demand and housing prices clearer for you.

[Anonymous No.49908985]

>>49908756
So it's true? How the fuck is it legal to add interest for a time-frame that hasn't elapsed yet. This country is good and truly kiked.

[Anonymous No.49909020]

>>49897112
>$1100 per month
how much is your interest rates geeze?

[Anonymous No.49909062]

>>49898784
They are not supposed to know. Most people don't even know what fiat even is. They can't even fathom why or how goods and services go up in price. They won't even bother rubbing two brain cells together to notice how whoever the president is, things don't change.

[Anonymous No.49909225]

>>49897163
>Electric stove
is shit, get a gas stove pleb.

[Anonymous No.49909258]

>>49897283
I got a 30 year 3% because of inflation.

[Anonymous No.49909281]

>>49899263
even mcdonald's pays $21/hr now. I think I'll be fine.

[Anonymous No.49909311]

>>49909281
Where? I work at a pizza shop in eastern US making $11/hr. That's a competitive rate and anything above $15/hr gets thousands of applicants

[Anonymous No.49909381]

>>49906248
There's not the political will for a Volker shock, I think they'll raise it up to 8% and that'll be it for a good few years.

They legit would rather have heavy inflation than a total collapse of everything.

[Anonymous No.49909697]

>>49896366
you're late as fuck, retard
home prices already falling. mass layoffs in mortgage departments already happening

[Anonymous No.49909706]

>>49907917
I don't know why you think the state won't operate against the will of the people if money is in question.

[Anonymous No.49909858]

>>49898517
Series I Savings Bonds are earning 9.62% interest through December 2022, so as long as mortgage rates are below that, it should be net positive, right?
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm

[Anonymous No.49909875]

>>49900300

Gotta run to stay in one place, buddy. Sweet sweet rat race for almighty freedom bucks.

[Anonymous No.49909882]

>>49908163
>>49909858

[Anonymous No.49910144]

>>49900394
>doesn't mean they will.
anyone wanna tell him?

[Anonymous No.49910194]

>>49896366
>Higher rates (that means reduced demand, mostly in the form of boomers not taking out 5 fucking mortgages for rental properties)
>?????
>Higher prices

Ok retard.

[Anonymous No.49911207]

>>49909311
which shithole city/state do you live in? i can't imagine anywhere in the eastern us being cheap to live in.