What do you think would happen if everyone in the country stopped paying mortgage rent?
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Cancel mortgage lmaoOriginally posted by pilebuck13Comment -
Lol seriously the madness that would ensueComment -
My $130k condo is now worth $340k after a few years but houses that aren't dumps are $650,000+ now. So any money I gained I'd be dumping back into affording something bigger.
I wish I just bought when rates were low, but the logic is- you can always re-finance. You can't ever pay less for your house.Comment -
What state?Originally posted by CrusherrrComment -
Pure insanity my little rambler 1500 sq foot house 4 bedroom 1.5 bath no master mostly outdated bathrooms can get 600 easy and yet I owe less then 150
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GREAT QUESTIONOriginally posted by TheGoldenGoose
Answer- the now SECOND worse President ever, Jimmy Carter.
In order to spur growth and combat inflation driven issues of his failed economic policies, the Fed allowed the 1st series of ARM to lower initial payments for borrowers.
This lead to the S&L crisis soon thereafter, much like the Clinton era CRA & affirmative action housing policies lead to the collapse in 09-11. Had rates been higher then housing would have sunk in 02 or 03, but the economic boom/ spending needs of the war allowed a period of easy money policy.Comment -
Insane indeed
Not only did I negotiate a 2.65 rate 24 months ago, my condo value in Fairfield County Ct. has nearly tripled in four years.Comment -
Yah I’m in the 2’s as wellOriginally posted by stevenashComment -
Housing market is gonna go down, especially for little stuff like that, condos, small 1300 sq ft houses selling for absurd prices. Guarantee that this won't stick.Originally posted by CrusherrrCause Sleep is the Cousin of DeathComment -
My house has almost doubled in price in less than 10 years.Comment -
When the SBR store opens again for business do you think inflation will raise the cost to buy btc? I believe it was 1,333 for $50Comment -
That’s a Steal for a 4 bedroom!Originally posted by pilebuck13Pure insanity my little rambler 1500 sq foot house 4 bedroom 1.5 bath no master mostly outdated bathrooms can get 600 easy and yet I owe less then 150
600k will get you this down here
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Norwalk is hot right now.Originally posted by KnuckleHeadzThat’s a Steal for a 4 bedroom!
600k will get you this down here
Fairfield too.
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America liteOriginally posted by lakerboyComment -
No. Housing market has been on fire in Canada. Search up hottest markets in the world.Originally posted by stevenashComment -
I had it paid off a few years ago but then decided to move, spent double and took a mortgage. Got tired of the same house after 17 years. No regrets at all, especially with the extra space during the pandemic. I could pay it off right now, but I don't quite want to yet. I might, but with inflation and rates going up I might not, esp at 2.5%. I probably will though, because I got a lot of cash. Nice problem, I know.Originally posted by lakerboyComment -
I sold mine for only about 15% more than I paid, 17 years later. Damn, sucks to think about. I remember in 2006 on paper the house was up like 70%. Knew that was silly.Originally posted by lakerboyComment -
Buying a house is the biggest investment you can make. Imagine renting for 30 years instead of paying a mortgage.Comment -
If you can triple up is it worth it to rent for a while? Especially when your house is built in the 70’s and you constantly have to update it? Idk owning a house can be expensive as well…Originally posted by pavyracerComment -
Home prices in the capital of Ireland are really rising.
It's Dublin.Comment -
Landers you fukkin voted for this moron you pink panty wearing liberal loving DemocratOriginally posted by Brock LandersComment -
Yeah, it all depends. No single right answer. A lot of it comes down to moving or not. Buying is generally not smart if you want or need to move frequently. Moving is expensive. I'd say you have to be willing to commit to stay for at least 10 years, if not more. There's a time to rent and a time to buy.Originally posted by pilebuck13Comment -
You have no idea what you are talking about.Originally posted by pavyracerComment -
Still getting 1.25% variable...Comment -
In the last housing bubble, I knew quite a few people who cashed out and waited for the next buying opportunity by renting. Rents were artificially low though because everyone with a property that was on an interest only ARM was trying to save their investment by renting it out and moving somewhere cheaper. That isn't happening right now. Inventories are stupid low so until we start building more homes, prices could stay relatively stable.Originally posted by pilebuck13
Right now, rents are high in comparison so your profit will get chewed up faster. The thing to consider is that 250k in profit is tax free (500k for couples) if you have lived there 2 years or more. That's a lot of money you can take off the table to do other things with.
With rates being high, you could put the money elsewhere and probably preserve the capital until another buying opportunity arose. Or you could stay in your house, wait for a buying opportunity, leverage your equity and keep the current house as a rental.
BTW when random dudes on message boards are becoming experts at anything, it's time to run for the hills.
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It's just a South Park gag LB.Originally posted by lakerboy
I don't disrespect Canada, I was in Montreal recently, fun city.Comment -
I forget most people on SBR are broke and in debt. My bad..Originally posted by pilebuck13Jibby I’m sure we all just have cash to buy a house laying around and if we did no shit pay cash for it?
Jibbys advice guys: if you have cash pay cash avoid interest fukin best advice I’d ever heard never thought about it I’d rather sit on my millions and pay interest for no reason
Win some 10 team parlay bets Pile. Get that cash buddy. Buy the crib out right!
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The banks would have an REO overload list on their hands.Originally posted by pilebuck13Comment -
Mortgage rates up but bank interest seems completely unchanged. Fukkin' crook banks making a fortune.Comment -
True and that sucks!!Originally posted by d2bets
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Jake that was initially our plan for Florida but you’d be amazed at all the home owners who won’t rent to families with a pitbull. I mean come on, take a look at the little guyOriginally posted by gauchojakeIn the last housing bubble, I knew quite a few people who cashed out and waited for the next buying opportunity by renting. Rents were artificially low though because everyone with a property that was on an interest only ARM was trying to save their investment by renting it out and moving somewhere cheaper. That isn't happening right now. Inventories are stupid low so until we start building more homes, prices could stay relatively stable.
Right now, rents are high in comparison so your profit will get chewed up faster. The thing to consider is that 250k in profit is tax free (500k for couples) if you have lived there 2 years or more. That's a lot of money you can take off the table to do other things with.
With rates being high, you could put the money elsewhere and probably preserve the capital until another buying opportunity arose. Or you could stay in your house, wait for a buying opportunity, leverage your equity and keep the current house as a rental.
BTW when random dudes on message boards are becoming experts at anything, it's time to run for the hills.
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Dog is out of controlOriginally posted by USCPHILLYGUYJake that was initially our plan for Florida but you’d be amazed at all the home owners who won’t rent to families with a pitbull. I mean come on, take a look at the little guy
A menaceComment -
He was the 2018 MVP of the Puppy Bowl.Originally posted by MinnesotaFatsComment
