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Posted: 3/22/2022 7:25:53 PM EDT
[Last Edit: CoconutLaCroix]
The average rate on the popular 30-year fixed mortgage hit 4.72% on Tuesday, moving 26 basis points higher since just Friday, according to Mortgage News Daily. As a result of the recent spike in rates, economists are now lowering their home sales forecasts for this year. Most estimates at the end of last year had the average 30-year mortgage rate hitting 4.5% by the end of 2022, but the war in Ukraine, rising oil prices and inflation have all lit a fire under interest rates. https://www.cnbc.com/2022/03/22/mortgage-rates-are-surging-faster-than-expected-prompting-economists-to-lower-their-home-sales-forecasts.html?utm_source=dlvr.it&utm_medium=twitter  And the Fed hasn't even ceased their $40 billion monthly MBS purchases yet. That fully ends starting in April.... Aaaand they're possibly going to start selling the $2.9 Trillion they already own, which will cause rates to pop even more. Rates were 2.7% 6 months ago. Going from 2.7% to 6% just added about $800 to the monthly payment on a median home for the avg prospective home buyer. Things are starting to look yucky for the housing bubble. ETA 9/25 4.95%!  Attached FileEta 6/14 6%  30-year mortgage passes 6% 7/7 5.3% - fastest drop since 2008 https://www.nasdaq.com/articles/current-mortgage-rates-drop-by-half-a-percentage-point 8/27 7% - fastest surge in history 10/18 8%!  |
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Posted: 5/7/2022 1:10:15 PM EDT
[#1]
Quote HistoryOriginally Posted By ContrarianIndicator: https://i.imgur.com/6LMTm4d.png Quote HistoryOriginally Posted By ContrarianIndicator: Originally Posted By FALARAK: Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! There are good times. There are harder times. Nobody said it would be easy. |
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NFK
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Posted: 5/7/2022 1:12:38 PM EDT
[Last Edit: CoconutLaCroix]
[#2]
Quote HistoryOriginally Posted By FALARAK: There are good times. There are harder times. Nobody said it would be easy. Save money, live within your means, and scoop your home up in a few years on the cheap from some over-leveraged boomer who took out helocs on their overvalued house to gamble on overvalued tech stonks.  
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Posted: 5/7/2022 1:36:17 PM EDT
[#3]
Quote HistoryOriginally Posted By ContrarianIndicator: I agree with the advice on saving and living within your means. Save money, live within your means, and scoop your home up in a few years on the cheap from some over-leveraged boomer who took out helocs on their overvalued house to gamble on overvalued tech stonks. https://i.imgur.com/6LMTm4d.png Quote HistoryOriginally Posted By ContrarianIndicator: Originally Posted By FALARAK: There are good times. There are harder times. Nobody said it would be easy. Save money, live within your means, and scoop your home up in a few years on the cheap from some over-leveraged boomer who took out helocs on their overvalued house to gamble on overvalued tech stonks. https://i.imgur.com/6LMTm4d.png  Attached File |
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Posted: 5/7/2022 2:04:14 PM EDT
[#4]
Quote HistoryOriginally Posted By FALARAK: Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! Quote HistoryOriginally Posted By FALARAK: Originally Posted By dbrad197: Originally Posted By spidey07: Then move or make more money. Or better yet. Both. I did 75 mile commute one way for 15 years. Cry me a fucking river. And stop the avacado toast and Starbucks everyday. Pack your lunch. A work cooler is like 15 bucks. Bologna and cheese sammich with some chips. Boom. 1 dollar lunch. After a few years of saving you can buy a house. Get to work. Over time is 1.5, 2x on weekends. My coworkers and VPs bring their lunch to work everyday. Stop striving to be median or mean. Cringiest boomer post I’ve seen in a couple weeks bro. Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! And when the market is manipulated and totally out of control, some people end up the losers |
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Posted: 5/7/2022 2:09:33 PM EDT
[#5]
Quote HistoryOriginally Posted By JEL: https://media.vogue.co.uk/photos/602d4ca4ff36e48440d2842f/master/w_1600%2Cc_limit/992.jpg This post sponsored by New Balance Quote HistoryOriginally Posted By JEL: Originally Posted By spidey07: Then move or make more money. Or better yet. Both. I did 75 mile commute one way for 15 years. Cry me a fucking river. And stop the avacado toast and Starbucks everyday. Pack your lunch. A work cooler is like 15 bucks. Bologna and cheese sammich with some chips. Boom. 1 dollar lunch. After a few years of saving you can buy a house. Get to work. Over time is 1.5, 2x on weekends. My coworkers and VPs bring their lunch to work everyday. Stop striving to be median or mean. https://media.vogue.co.uk/photos/602d4ca4ff36e48440d2842f/master/w_1600%2Cc_limit/992.jpg This post sponsored by New Balance Attached File |
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Posted: 5/7/2022 2:14:37 PM EDT
[Last Edit: CaliContractor]
[#6]
Quote HistoryOriginally Posted By bradpierson26: And when the market is manipulated and totally out of control, some people end up the losers Quote HistoryOriginally Posted By bradpierson26: Originally Posted By FALARAK: Originally Posted By dbrad197: Originally Posted By spidey07: Then move or make more money. Or better yet. Both. I did 75 mile commute one way for 15 years. Cry me a fucking river. And stop the avacado toast and Starbucks everyday. Pack your lunch. A work cooler is like 15 bucks. Bologna and cheese sammich with some chips. Boom. 1 dollar lunch. After a few years of saving you can buy a house. Get to work. Over time is 1.5, 2x on weekends. My coworkers and VPs bring their lunch to work everyday. Stop striving to be median or mean. Cringiest boomer post I’ve seen in a couple weeks bro. Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! And when the market is manipulated and totally out of control, some people end up the losers Every generation has it's issues. Some have it worse then others but last time I checked it was still the best place on this planet to live. I personally think to many people are just straight up soft and haven't had near enough adversity in their lives. Everyone has equal opportunity, now what folks do or don't do with that is on them. |
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Posted: 5/7/2022 3:07:40 PM EDT
[#7]
Quote HistoryOriginally Posted By CaliContractor: Every generation has it's issues. Some have it worse then others but last time I checked it was still the best place on this planet to live. I personally think to many people are just straight up soft and haven't had near enough adversity in their lives. Everyone has equal opportunity, now what folks do or don't do with that is on them. Quote HistoryOriginally Posted By CaliContractor: Originally Posted By bradpierson26: Originally Posted By FALARAK: Originally Posted By dbrad197: Originally Posted By spidey07: Then move or make more money. Or better yet. Both. I did 75 mile commute one way for 15 years. Cry me a fucking river. And stop the avacado toast and Starbucks everyday. Pack your lunch. A work cooler is like 15 bucks. Bologna and cheese sammich with some chips. Boom. 1 dollar lunch. After a few years of saving you can buy a house. Get to work. Over time is 1.5, 2x on weekends. My coworkers and VPs bring their lunch to work everyday. Stop striving to be median or mean. Cringiest boomer post I’ve seen in a couple weeks bro. Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! And when the market is manipulated and totally out of control, some people end up the losers Every generation has it's issues. Some have it worse then others but last time I checked it was still the best place on this planet to live. I personally think to many people are just straight up soft and haven't had near enough adversity in their lives. Everyone has equal opportunity, now what folks do or don't do with that is on them.  |
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Posted: 5/7/2022 5:00:14 PM EDT
[#8]
Quote HistoryOriginally Posted By CaliContractor: Every generation has it's issues. Some have it worse then others but last time I checked it was still the best place on this planet to live. I personally think to many people are just straight up soft and haven't had near enough adversity in their lives. Everyone has equal opportunity, now what folks do or don't do with that is on them. Quote HistoryOriginally Posted By CaliContractor: Originally Posted By bradpierson26: Originally Posted By FALARAK: Originally Posted By dbrad197: Originally Posted By spidey07: Then move or make more money. Or better yet. Both. I did 75 mile commute one way for 15 years. Cry me a fucking river. And stop the avacado toast and Starbucks everyday. Pack your lunch. A work cooler is like 15 bucks. Bologna and cheese sammich with some chips. Boom. 1 dollar lunch. After a few years of saving you can buy a house. Get to work. Over time is 1.5, 2x on weekends. My coworkers and VPs bring their lunch to work everyday. Stop striving to be median or mean. Cringiest boomer post I’ve seen in a couple weeks bro. Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! And when the market is manipulated and totally out of control, some people end up the losers Every generation has it's issues. Some have it worse then others but last time I checked it was still the best place on this planet to live. I personally think to many people are just straight up soft and haven't had near enough adversity in their lives. Everyone has equal opportunity, now what folks do or don't do with that is on them. It’s both. A fraudulent monetary system, supplied by a private bank, owned by secret families that ever-increase the supply of currency is designed to steal all wealth from all people (except them), and will, given enough time. But there isn’t much to do beyond revolting. Worker harder. Have less. |
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Posted: 5/7/2022 5:54:18 PM EDT
[#9]
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Posted: 5/7/2022 6:00:48 PM EDT
[#10]
Quote HistoryOriginally Posted By exponentialpi:
 Attached File |
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Posted: 5/7/2022 6:27:06 PM EDT
[#11]
Quote HistoryOriginally Posted By exponentialpi:
Bullard? What's that? Any predictions on CPI this Tuesday? |
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Posted: 5/7/2022 6:42:47 PM EDT
[#12]
Quote HistoryOriginally Posted By VooDoo3dfx: Bullard? What's that? Any predictions on CPI this Tuesday? Quote HistoryOriginally Posted By VooDoo3dfx: Originally Posted By exponentialpi:
Bullard? What's that? Any predictions on CPI this Tuesday?  Attached File |
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Posted: 5/7/2022 6:54:56 PM EDT
[#13]
Quote HistoryOriginally Posted By exponentialpi:
I’ll believe it when I see it. I don’t think we will make it past 2.5% The Stonk Market and Political pressure from a collapsing economy will be too much for the Fed. |
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Posted: 5/7/2022 6:56:34 PM EDT
[#14]
Quote HistoryOriginally Posted By ThEWayOftheGUn1: I’ll believe it when I see it. I don’t think we will make it past 2.5% The Stonk Market and Political pressure from a collapsing economy will be too much for the Fed. Quote HistoryOriginally Posted By ThEWayOftheGUn1: Originally Posted By exponentialpi:
I’ll believe it when I see it. I don’t think we will make it past 2.5% The Stonk Market and Political pressure from a collapsing economy will be too much for the Fed. I appreciate your optimism |
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Posted: 5/7/2022 7:02:46 PM EDT
[#15]
Quote HistoryOriginally Posted By spidey07: See that’s the problem. You don’t get to buy a home right out of school. You rent a place, have room mates, save your ass off for years. Then get to buy a 2 bedroom home. 3 if you’re making really good money and saved a bunch. I built a place on the lake right out of school. Had a diesel crew cab, boat, party barge and 4 wheeler when I was 26. I couldn’t do that now. I absolutely had an easier time than kiddos these days. It’s tough out there. |
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USA
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Posted: 5/7/2022 7:14:21 PM EDT
[#16]
I bet we see 3.5%+ by EOY.
They are trying to slow inflation to reduce things like food and merchandise by Christmas. Housing costs and a crushed economy will be blamed on the Republicans taking over Congress in midterms. |
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Posted: 5/7/2022 8:31:45 PM EDT
[#17]
Quote HistoryOriginally Posted By spidey07: Then move or make more money. Or better yet. Both. I did 75 mile commute one way for 15 years. Cry me a fucking river. And stop the avacado toast and Starbucks everyday. Pack your lunch. A work cooler is like 15 bucks. Bologna and cheese sammich with some chips. Boom. 1 dollar lunch. After a few years of saving you can buy a house. Get to work. Over time is 1.5, 2x on weekends. My coworkers and VPs bring their lunch to work everyday. Stop striving to be median or mean. Nobody cares about your 15yr 75mi commute. Hope you enjoyed your time commuting. That’s just stupid. |
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HI, USA
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Posted: 5/7/2022 9:31:29 PM EDT
[#18]
Quote HistoryOriginally Posted By ContrarianIndicator: I agree with the advice on saving and living within your means. Save money, live within your means, and scoop your home up in a few years on the cheap from some over-leveraged boomer who took out helocs on their overvalued house to gamble on overvalued tech stonks. https://i.imgur.com/6LMTm4d.png Yep, I graduated in the middle of a recession with very few jobs out there, pre-web with most thinking computers were for losers. I think its hard to grasp, just like it is to get your mind around life prior to the widespread use of refrigeration or the automobile. The graph tells the tale - we are going to have a major crash; its already started as every 1% rise in rates reduces home prices by about 10%. Real estate isnt very liquid so it takes a while to pan out but the first signs of widespread pain should appear on craigslist or similar sites with people trying to unload high dollar trucks, boats, rvs, etc. In the last bubble every little community where I live had an empty lot near the highway where people parked their cars to sell. <- Packing my lunch my entire career, ~28 years. Spending a dollar on a meal is retarded though - consider the source. Diet and exercise are the foundation of your health care plan, so buy the best you can reasonably afford. Doing your own meal prep should also force you to learn about nutrition and pays huge dividends down the road. The last few years have made it crystal clear the health care industrial complex is more than happy to drain your bank account and even kill you for the $. |
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Posted: 5/8/2022 2:22:31 PM EDT
[#19]
Quote HistoryOriginally Posted By Cataly5t: Yep, I graduated in the middle of a recession with very few jobs out there, pre-web with most thinking computers were for losers. I think its hard to grasp, just like it is to get your mind around life prior to the widespread use of refrigeration or the automobile. The graph tells the tale - we are going to have a major crash; its already started as every 1% rise in rates reduces home prices by about 10%. Real estate isnt very liquid so it takes a while to pan out but the first signs of widespread pain should appear on craigslist or similar sites with people trying to unload high dollar trucks, boats, rvs, etc. In the last bubble every little community where I live had an empty lot near the highway where people parked their cars to sell. <- Packing my lunch my entire career, ~28 years. Spending a dollar on a meal is retarded though - consider the source. Diet and exercise are the foundation of your health care plan, so buy the best you can reasonably afford. Doing your own meal prep should also force you to learn about nutrition and pays huge dividends down the road. The last few years have made it crystal clear the health care industrial complex is more than happy to drain your bank account and even kill you for the $. It takes very little effort or extra cost to purposely make enough extra dinner to have lunch the next day or two. Daily spending is a big part of poor financial choices. One of my friends talks about not having money sometimes and his household makes almost double what mine does. Every day=store bought bottles of water vs bringing a nalgene or whatever, stop every morning for a monster or two from the gas station, lunch from a restaurant. That's not a small amount over the course of a month. I've even suggested things like buying the monsters from Costco so they aren't ~$3 each but he won't. |
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Posted: 5/8/2022 3:08:36 PM EDT
[#20]
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Posted: 5/9/2022 10:19:13 AM EDT
[#21]
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Posted: 5/9/2022 10:34:51 AM EDT
[Last Edit: FALARAK]
[#22]
Quote HistoryLOL - a permabear doing permabear stuff? He predicts the sky is falling *every* year. It’s January, time for another Jeremy Grantham super bubble call |
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Posted: 5/9/2022 1:52:42 PM EDT
[#23]
 
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Posted: 5/9/2022 1:56:48 PM EDT
[#24]
Quote HistoryOriginally Posted By HKH: I built a place on the lake right out of school. Had a diesel crew cab, boat, party barge and 4 wheeler when I was 26. I couldn’t do that now. I absolutely had an easier time than kiddos these days. It’s tough out there. Back then, people bought land and houses for living, not as "investments". And foreigners weren't buying up our land. |
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Posted: 5/9/2022 1:58:55 PM EDT
[#25]
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Posted: 5/9/2022 2:03:36 PM EDT
[#26]
Quote HistoryOriginally Posted By ContrarianIndicator: https://i.imgur.com/6LMTm4d.png Now do one that shows the actual monthly payments as well. |
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Posted: 5/9/2022 2:04:58 PM EDT
[#27]
Quote HistoryOriginally Posted By broken_reticle: I bet we see 3.5%+ by EOY. They are trying to slow inflation to reduce things like food and merchandise by Christmas. Housing costs and a crushed economy will be blamed on the Republicans taking over Congress in midterms. Probably right. |
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Posted: 5/9/2022 4:52:38 PM EDT
[#28]
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Posted: 5/9/2022 11:18:14 PM EDT
[#29]
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USA
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Posted: 5/9/2022 11:23:56 PM EDT
[#30]
Quote HistoryOriginally Posted By maleante: https://i.imgur.com/82rcwUR.png I am so tired of cryptic horseshit that people who think they're in the know spew to other people who think they're in the know like some secret society language. |
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Posted: 5/9/2022 11:30:17 PM EDT
[#31]
Quote HistoryOriginally Posted By Ellenripley: I am so tired of cryptic horseshit that people who think they're in the know spew to other people who think they're in the know like some secret society language. Would you post on a major social media platform with your regular username if you got margin called and had to sell your house?  I sure as hell wouldn't! 
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Posted: 5/9/2022 11:30:22 PM EDT
[#32]
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USA
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Posted: 5/9/2022 11:38:38 PM EDT
[#33]
Quote HistoryOriginally Posted By transplanted: Would you post on a major social media platform with your regular username if you got margin called and had to sell your house? I sure as hell wouldn't! Quote HistoryOriginally Posted By transplanted: Originally Posted By Ellenripley: I am so tired of cryptic horseshit that people who think they're in the know spew to other people who think they're in the know like some secret society language. Would you post on a major social media platform with your regular username if you got margin called and had to sell your house? I sure as hell wouldn't! Yeah, I guess taking a loan on unrealized gains is about as risky as it gets. |
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Posted: 5/9/2022 11:39:18 PM EDT
[#34]
Quote HistoryOriginally Posted By transplanted: Would you post on a major social media platform with your regular username if you got margin called and had to sell your house? I sure as hell wouldn't! Quote HistoryOriginally Posted By transplanted: Originally Posted By Ellenripley: I am so tired of cryptic horseshit that people who think they're in the know spew to other people who think they're in the know like some secret society language. Would you post on a major social media platform with your regular username if you got margin called and had to sell your house? I sure as hell wouldn't! Would you if you were a 17 year old larper? |
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Posted: 5/9/2022 11:39:24 PM EDT
[#35]
Quote HistoryOriginally Posted By Cataly5t: Reits breaking down, check out a corporate landlord like invitation homes, ooof. With home builders already in a downward spiral and the fintech housing companies likely headed to bankruptcy given their stocks it's safe to say it's dead, Jim. Inventory ramping back up to pre Plandemic levels but asking prices 20-40% higher with affordability 20% lower due to the rise in interest rates. Flippers about to get crushed. This crash will move much faster than the last one IMO based on what I'm seeing. Good |
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Posted: 5/9/2022 11:40:45 PM EDT
[#36]
Quote HistoryOriginally Posted By Ellenripley: I am so tired of cryptic horseshit that people who think they're in the know spew to other people who think they're in the know like some secret society language. Bem vindo garotinho novo ao arfcom, espero que vc tenha uma estadia otimo aqui com nos. What's cryptic about that screenshot? Guy used his stonks for a down payment via a margin loan. Margin loan got called. He just dropped out of the homeowner pool. Clearly it's cryptic... |
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Posted: 5/9/2022 11:47:20 PM EDT
[#37]
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Posted: 5/9/2022 11:56:52 PM EDT
[#38]
I did some quick Googling and you will all be pleased to know that margin lending is sitting at just under $1T right now.
What could go wrong? |
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Posted: 5/10/2022 12:07:14 AM EDT
[Last Edit: perch_44]
[#39]
So glad I refinanced for less years, at 2.9 last year. Live within our means, and enjoy life.
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Posted: 5/10/2022 12:58:45 AM EDT
[Last Edit: bradpierson26]
[#40]
Anecdote:
First time I texted/responded to a text to sell my house with a price and they ghosted me instead of at least having some banter
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Posted: 5/10/2022 1:06:13 AM EDT
[#41]
Quote HistoryOriginally Posted By FALARAK: Naw. He's right. Let me translate for you. 1. Focus on growing your income. Even if it means sacrifice. 2. Control your spending. Voila! The goofy “Starbucks and avocado toast “ thing doesn’t resonate with young people. I have a few 20 something’s working for me, they don’t buy any of that shit. If you want to try to reach guys that age, try talking to them, not sneering at them. 🤷🏻♂️ |
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Posted: 5/10/2022 1:11:48 AM EDT
[#42]
Quote HistoryOriginally Posted By Ellenripley: Yeah, I guess taking a loan on unrealized gains is about as risky as it gets. I didn’t even really know that’s a thing. What kind of psychotic lender will give a mortgage based on unrealized gains. Fuck, that’s terrifying. |
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Posted: 5/10/2022 1:36:52 AM EDT
[#43]
Quote HistoryOriginally Posted By dbrad197: I didn’t even really know that’s a thing. What kind of psychotic lender will give a mortgage based on unrealized gains. Fuck, that’s terrifying. Hes talking about a margin loan on a stock portfolio I think... |
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HI, USA
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Posted: 5/10/2022 1:38:15 AM EDT
[Last Edit: Cataly5t]
[#44]
Quote HistoryOriginally Posted By dbrad197: I didn’t even really know that’s a thing. What kind of psychotic lender will give a mortgage based on unrealized gains. Fuck, that’s terrifying. Quote HistoryOriginally Posted By dbrad197: Originally Posted By Ellenripley: Yeah, I guess taking a loan on unrealized gains is about as risky as it gets. I didn’t even really know that’s a thing. What kind of psychotic lender will give a mortgage based on unrealized gains. Fuck, that’s terrifying. Happened in the dot com boom. Its why us fossils (gen x here  ) have been posting trying to warn younger people that the market stinks, real estate is insane and crypto is likely a zero. We've seen the damage first hand that bubbles cause and what went down during the Plandemic is a textbook mania - in many ways.And as I posted earlier, people have borrowed against unrealized gains in crypto to buy real estate. I just heard from a relative in coastal socal who has been telling me every week the latest insanity in RE there. The last was a 1.5m house bought for 2m cash and torn down. Lots of tech execs who gtfo'd while the getting was good and many of their companies are heading to 0. One I heard today has lost 90% of its value with over 200 employees. Think there won't be pain? Good news is there should be more good shorting opportunities because the media scum won't cop to a crash in RE for at least another 4 months or so - they get too much ad revenue from them and they're gonna milk that cow as long as they can. ETA: where's are resident Cramer, spidey? In a padded cell screaming at the sky "it's not a bear market!!!"?
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Posted: 5/10/2022 1:47:38 AM EDT
[#45]
Quote HistoryOriginally Posted By Chromekilla: Hes talking about a margin loan on a stock portfolio I think... Ah, I see now. Thank you. |
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Posted: 5/10/2022 2:57:58 AM EDT
[#46]
Quote HistoryOriginally Posted By bradpierson26: Lol, yeah I’ll get right on that https://www.ar15.com/media/mediaFiles/184182/349B74EB-6D66-4173-96B5-391F9C3407A2_png-2377917.JPG Quote HistoryOriginally Posted By bradpierson26: Lol, yeah I’ll get right on that https://www.ar15.com/media/mediaFiles/184182/349B74EB-6D66-4173-96B5-391F9C3407A2_png-2377917.JPG My credit union is an enabler. There are many reasons why you should choose property as an investment, whether it be for tax advantages, stable rent revenue, or you just want to have an investment you can touch with your own two hands. We have experts that can walk you through all the details of why you should choose real estate as an investment. Our experts can also help you determine where to start and what areas you may want to invest in. Some of the areas we will cover in the webinar are: Long-Term Buy & Hold Fix-and-Flip Live-in Flip Vacation Rentals BRRRR Investing Let us help you create a plan on how to start investing in real estate. Attend our FREE webinar on Thursday, May 12th from 6:30 PM to 8:00 PM |
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Posted: 5/10/2022 8:46:08 AM EDT
[#47]
Quote HistoryOriginally Posted By bradpierson26: Anecdote: First time I texted/responded to a text to sell my house with a price and they ghosted me instead of at least having some banter  Attached File Attached File Attached File |
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Posted: 5/10/2022 8:54:07 AM EDT
[#48]
Quote HistoryOriginally Posted By bradpierson26: Lol, yeah I'll get right on that https://www.ar15.com/media/mediaFiles/184182/349B74EB-6D66-4173-96B5-391F9C3407A2_png-2377917.JPG Yea WF bought our refi. We have been getting a mailer about once every couple of weeks telling us about their great rates, let us help you refi. Last one I looked at a couple of weeks ago was 4.85% @ 30. We are currently @ 2.75% @ 25 years. I shred that shit. Also, I get a fuck ton of CC offers. Ill look occasionally. All have crept up from the 10-15% average to 18-20%+ now. |
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Posted: 5/10/2022 9:02:54 AM EDT
[#49]
Quote HistoryOriginally Posted By Cataly5t: Happened in the dot com boom. Its why us fossils (gen x here ) have been posting trying to warn younger people that the market stinks, real estate is insane and crypto is likely a zero. We've seen the damage first hand that bubbles cause and what went down during the Plandemic is a textbook mania - in many ways.And as I posted earlier, people have borrowed against unrealized gains in crypto to buy real estate. I just heard from a relative in coastal socal who has been telling me every week the latest insanity in RE there. The last was a 1.5m house bought for 2m cash and torn down. Lots of tech execs who gtfo'd while the getting was good and many of their companies are heading to 0. One I heard today has lost 90% of its value with over 200 employees. Think there won't be pain? Good news is there should be more good shorting opportunities because the media scum won't cop to a crash in RE for at least another 4 months or so - they get too much ad revenue from them and they're gonna milk that cow as long as they can. ETA: where's are resident Cramer, spidey? In a padded cell screaming at the sky "it's not a bear market!!!"? Quote HistoryOriginally Posted By Cataly5t: Originally Posted By dbrad197: Originally Posted By Ellenripley: Yeah, I guess taking a loan on unrealized gains is about as risky as it gets. I didn’t even really know that’s a thing. What kind of psychotic lender will give a mortgage based on unrealized gains. Fuck, that’s terrifying. Happened in the dot com boom. Its why us fossils (gen x here ) have been posting trying to warn younger people that the market stinks, real estate is insane and crypto is likely a zero. We've seen the damage first hand that bubbles cause and what went down during the Plandemic is a textbook mania - in many ways.And as I posted earlier, people have borrowed against unrealized gains in crypto to buy real estate. I just heard from a relative in coastal socal who has been telling me every week the latest insanity in RE there. The last was a 1.5m house bought for 2m cash and torn down. Lots of tech execs who gtfo'd while the getting was good and many of their companies are heading to 0. One I heard today has lost 90% of its value with over 200 employees. Think there won't be pain? Good news is there should be more good shorting opportunities because the media scum won't cop to a crash in RE for at least another 4 months or so - they get too much ad revenue from them and they're gonna milk that cow as long as they can. ETA: where's are resident Cramer, spidey? In a padded cell screaming at the sky "it's not a bear market!!!"? My uncle is in escrow to sell the house he inherited when his dad passed. 3.2mm in Beverly Hills and it’s a complete tear down. I hope he closes... |
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Posted: 5/10/2022 9:04:44 AM EDT
[#50]
Quote HistoryOriginally Posted By bad2006z71: Yea WF bought our refi. We have been getting a mailer about once every couple of weeks telling us about their great rates, let us help you refi. Last one I looked at a couple of weeks ago was 4.85% @ 30. We are currently @ 2.75% @ 25 years. I shred that shit. Also, I get a fuck ton of CC offers. Ill look occasionally. All have crept up from the 10-15% average to 18-20%+ now. Quote HistoryOriginally Posted By bad2006z71: Originally Posted By bradpierson26: Lol, yeah I'll get right on that https://www.ar15.com/media/mediaFiles/184182/349B74EB-6D66-4173-96B5-391F9C3407A2_png-2377917.JPG Yea WF bought our refi. We have been getting a mailer about once every couple of weeks telling us about their great rates, let us help you refi. Last one I looked at a couple of weeks ago was 4.85% @ 30. We are currently @ 2.75% @ 25 years. I shred that shit. Also, I get a fuck ton of CC offers. Ill look occasionally. All have crept up from the 10-15% average to 18-20%+ now. I got a citi and someone else’s offer - 0.99% and 2.99% for balance transfers instead of 0% |
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