It looks like “The Big Short” is going to have a sequel. Can’t wait...
While I get your point. At least these are fixed rate loans at 4.5% and 15-30 year. The shitty loans that took down the market were often interest only, and they all were variable rate. So when they reset, people couldn't afford the payments.
I’m also not a fan of zero down. At least put 2-3% down. Especially when it looks like housing prices might have peaked. Not good to start day one of your new house underwater.
Right. And in Washington with excise tax, it's about 9% cost to sell your house. Other states it's 7% minimum.
It looks like “The Big Short” is going to have a sequel. Can’t wait...
While I get your point. At least these are fixed rate loans at 4.5% and 15-30 year. The shitty loans that took down the market were often interest only, and they all were variable rate. So when they reset, people couldn't afford the payments.
I’m also not a fan of zero down. At least put 2-3% down. Especially when it looks like housing prices might have peaked. Not good to start day one of your new house underwater.
Right. And in Washington with excise tax, it's about 9% cost to sell your house. Other states it's 7% minimum.
0% in Oregon.
You don't pay real estate fees in Oregon now? Chinteresting.
For younger people I think mobility is like the biggest asset you have
False. You can buy a house and still be mobile. If you have to or want to move, you can have somebody else pay for your appreciating asset and have a couple hundred bucks left over when you rent it out.
I bought high 12 years ago. But even with the crash and the fact I bought high, the homes value has appreciated 50%.
Okay. So say I buy a house and rent it out, deal with repairs and upkeep, maybe a month every year or two with no rent payment...
This vs putting money in the market you're talking like one bar night a month difference . A couple hundred bucks at most. Plus literally no worry.
I'm not saying it's not a good thing to do but people make it out like being a total moron not to.
It looks like “The Big Short” is going to have a sequel. Can’t wait...
While I get your point. At least these are fixed rate loans at 4.5% and 15-30 year. The shitty loans that took down the market were often interest only, and they all were variable rate. So when they reset, people couldn't afford the payments.
I’m also not a fan of zero down. At least put 2-3% down. Especially when it looks like housing prices might have peaked. Not good to start day one of your new house underwater.
Right. And in Washington with excise tax, it's about 9% cost to sell your house. Other states it's 7% minimum.
0% in Oregon.
You don't pay real estate fees in Oregon now? Chinteresting.
unless you're offering to pay for brokerage fees or title and escrow fees for the buyer, the only cost is the realtor commission, which usually runs around 6%. You can always go with the sell by owner and pay nothing I guess.
It looks like “The Big Short” is going to have a sequel. Can’t wait...
While I get your point. At least these are fixed rate loans at 4.5% and 15-30 year. The shitty loans that took down the market were often interest only, and they all were variable rate. So when they reset, people couldn't afford the payments.
I’m also not a fan of zero down. At least put 2-3% down. Especially when it looks like housing prices might have peaked. Not good to start day one of your new house underwater.
Right. And in Washington with excise tax, it's about 9% cost to sell your house. Other states it's 7% minimum.
0% in Oregon.
You don't pay real estate fees in Oregon now? Chinteresting.
You said excise tax you fucking moron. Fuck it l!!!’ @DerekJohnson, PM me your number to ban this abortion aka Hondo for a month.
For younger people I think mobility is like the biggest asset you have
False. You can buy a house and still be mobile. If you have to or want to move, you can have somebody else pay for your appreciating asset and have a couple hundred bucks left over when you rent it out.
I bought high 12 years ago. But even with the crash and the fact I bought high, the homes value has appreciated 50%.
Okay. So say I buy a house and rent it out, deal with repairs and upkeep, maybe a month every year or two with no rent payment...
This vs putting money in the market you're talking like one bar night a month difference . A couple hundred bucks at most. Plus literally no worry.
I'm not saying it's not a good thing to do but people make it out like being a total moron not to.
Easy fix my friend. Buy the Home warranty and make sure your management company makes your tenants pay for a year of renters insurance upfront at the beginning of the lease and renewal. That way you’re covered for peanuts if they trash your house and also if the pipes leak, furnace, fridge,stove, etc goes out. I can rent my humble abode out for over double what my mortgage is.
It looks like “The Big Short” is going to have a sequel. Can’t wait...
While I get your point. At least these are fixed rate loans at 4.5% and 15-30 year. The shitty loans that took down the market were often interest only, and they all were variable rate. So when they reset, people couldn't afford the payments.
I’m also not a fan of zero down. At least put 2-3% down. Especially when it looks like housing prices might have peaked. Not good to start day one of your new house underwater.
Right. And in Washington with excise tax, it's about 9% cost to sell your house. Other states it's 7% minimum.
0% in Oregon.
You don't pay real estate fees in Oregon now? Chinteresting.
You said excise tax you fucking moron. Fuck it l!!!’ @DerekJohnson, PM me your number to ban this abortion aka Hondo for a month.
I can't help it if you can't read. I said "after excise tax it's 9%".
For younger people I think mobility is like the biggest asset you have
False. You can buy a house and still be mobile. If you have to or want to move, you can have somebody else pay for your appreciating asset and have a couple hundred bucks left over when you rent it out.
I bought high 12 years ago. But even with the crash and the fact I bought high, the homes value has appreciated 50%.
Yep. There is never a reason to sell a home you aren't at least 20% up on.
Comments
But But... The guy in the article cashing commission checks says that no one defaults on these loans!!!
The real troublesome part is that they don’t require mortgage insurance.
This vs putting money in the market you're talking like one bar night a month difference .
A couple hundred bucks at most.
Plus literally no worry.
I'm not saying it's not a good thing to do but people make it out like being a total moron not to.
Easy fix my friend. Buy the Home warranty and make sure your management company makes your tenants pay for a year of renters insurance upfront at the beginning of the lease and renewal. That way you’re covered for peanuts if they trash your house and also if the pipes leak, furnace, fridge,stove, etc goes out. I can rent my humble abode out for over double what my mortgage is.