1. #71
    pilebuck13
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    What do you think would happen if everyone in the country stopped paying mortgage rent?

  2. #72
    lakerboy
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    Quote Originally Posted by pilebuck13 View Post
    What do you think would happen if everyone in the country stopped paying mortgage rent?
    Cancel mortgage lmao

  3. #73
    pilebuck13
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    Lol seriously the madness that would ensue

  4. #74
    Crusherrr
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    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.

  5. #75
    stevenash
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    Quote Originally Posted by Crusherrr View Post
    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.
    What state?

  6. #76
    pilebuck13
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    Pure insanity my little rambler 1500 sq foot house 4 bedroom 1.5 bath no master mostly outdated bathrooms can get 600 easy and yet I owe less then 150

  7. #77
    MinnesotaFats
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    Quote Originally Posted by TheGoldenGoose View Post
    I have but one question.
    Who came up with the idea of variable rates?
    GREAT QUESTION

    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.

  8. #78
    stevenash
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    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.

  9. #79
    pilebuck13
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    Quote Originally Posted by stevenash View Post
    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.
    Yah I’m in the 2’s as well

  10. #80
    Goat Milk
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    Quote Originally Posted by Crusherrr View Post
    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.
    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.

  11. #81
    lakerboy
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  12. #82
    Stallion
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    My house has almost doubled in price in less than 10 years.

  13. #83
    teacher10
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    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 $50

  14. #84
    KnuckleHeadz
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    Quote Originally Posted by pilebuck13 View Post
    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
    That’s a Steal for a 4 bedroom!
    600k will get you this down here



  15. #85
    stevenash
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    Quote Originally Posted by KnuckleHeadz View Post
    That’s a Steal for a 4 bedroom!
    600k will get you this down here


    Norwalk is hot right now.
    Fairfield too.


  16. #86
    stevenash
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    Quote Originally Posted by lakerboy View Post

    Canada.
    America lite

  17. #87
    lakerboy
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    Quote Originally Posted by stevenash View Post
    America lite
    No. Housing market has been on fire in Canada. Search up hottest markets in the world.

  18. #88
    d2bets
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    Quote Originally Posted by lakerboy View Post
    I don't have a mortgage payment and I'm under 50. You can do both. I did.
    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.

  19. #89
    d2bets
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    Quote Originally Posted by lakerboy View Post
    I'm sure homes were the same price as today as well right lol. In Ontario a home is $865000 average price. It was $200000 in 2001. You think 7.25% was the same as now?
    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.

  20. #90
    pavyracer
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    Buying a house is the biggest investment you can make. Imagine renting for 30 years instead of paying a mortgage.

  21. #91
    pilebuck13
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    Quote Originally Posted by pavyracer View Post
    Buying a house is the biggest investment you can make. Imagine renting for 30 years instead of paying a mortgage.
    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…

  22. #92
    VeggieDog
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    Home prices in the capital of Ireland are really rising.

    It's Dublin.

  23. #93
    SEAHAWKHARRY
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    Quote Originally Posted by Brock Landers View Post
    You only get to sandbag motherfuckers once a day pal
    Landers you fukkin voted for this moron you pink panty wearing liberal loving Democrat

  24. #94
    d2bets
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    Quote Originally Posted by pilebuck13 View Post
    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…
    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.

  25. #95
    k13
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    Quote Originally Posted by pavyracer View Post
    This is how capitalism works. The free market controls the rates based on supply and demand.

    Do you think capitalism is supposed to have $30 per barrel oil, 3% mortgage rates, 0% financing for cars indefinitely and still function?

    Free market is what is this country is all about.
    You have no idea what you are talking about.

  26. #96
    k13
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    Still getting 1.25% variable...

  27. #97
    gauchojake
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    Quote Originally Posted by pilebuck13 View Post
    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…
    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.

    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.

  28. #98
    stevenash
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    Quote Originally Posted by lakerboy View Post
    No. Housing market has been on fire in Canada. Search up hottest markets in the world.
    It's just a South Park gag LB.
    I don't disrespect Canada, I was in Montreal recently, fun city.
    Points Awarded:

    lakerboy gave stevenash 1 SBR Point(s) for this post.


  29. #99
    JIBBBY
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    Quote Originally Posted by pilebuck13 View Post
    Jibby 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
    I forget most people on SBR are broke and in debt. My bad..

    Win some 10 team parlay bets Pile. Get that cash buddy. Buy the crib out right!

  30. #100
    JIBBBY
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    Quote Originally Posted by pilebuck13 View Post
    What do you think would happen if everyone in the country stopped paying mortgage rent?
    The banks would have an REO overload list on their hands.

  31. #101
    d2bets
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    Mortgage rates up but bank interest seems completely unchanged. Fukkin' crook banks making a fortune.

  32. #102
    JIBBBY
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    Quote Originally Posted by d2bets View Post
    Mortgage rates up but bank interest seems completely unchanged. Fukkin' crook banks making a fortune.
    True and that sucks!!

  33. #103
    USCPHILLYGUY
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    Quote Originally Posted by gauchojake View Post
    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.

    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.
    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 guy



  34. #104
    MinnesotaFats
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    Quote Originally Posted by USCPHILLYGUY View Post
    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 guy


    Dog is out of control

    A menace

  35. #105
    stevenash
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    Quote Originally Posted by MinnesotaFats View Post
    Dog is out of control

    A menace
    He was the 2018 MVP of the Puppy Bowl.

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