Funny to an old man
Comments
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True - and like we say, as long as the house is paid off/new home purchased debt free within 5 years, gonna buy me a golf cart and play some bocci for fun. No car payment/upkeep/insurance. No more paying for kids, no more anything but booze, edibles and internet. And Fuck Jay Inslee we're at it - gonna take all those capital gains elsewhere, motherfucker.RaceBannon said:The low mortgage rates are the thread keeping the whole thing together just like low interest rates keep the borrowing going.
science
Sort of how I imagine @RaceBannon lives right now.
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How fucking dependent on housing is our economy?RaceBannon said:The low mortgage rates are the thread keeping the whole thing together just like low interest rates keep the borrowing going.
science
Btw that's good for Creepy's company bidness, but still. We have a lot of eggs in that basket. -
Everyone doescreepycoug said:
How fucking dependent on housing is our economy?RaceBannon said:The low mortgage rates are the thread keeping the whole thing together just like low interest rates keep the borrowing going.
science
Btw that's good for Creepy's company bidness, but still. We have a lot of eggs in that basket.
I noted last year that as the economy shut down the rich neighborhoods were full of tradesmen remolding both for owners and for profit. Also need that foreign money to keep pouring in to justify the prices
Orange County prime ocean is where Beverley Hills was and the high end in LA on a big flat lot with 20,000 sf is near 100 million
Somebody has money
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$100 million for a house. JFC. There's a lot of money in that white powder.RaceBannon said:
Everyone doescreepycoug said:
How fucking dependent on housing is our economy?RaceBannon said:The low mortgage rates are the thread keeping the whole thing together just like low interest rates keep the borrowing going.
science
Btw that's good for Creepy's company bidness, but still. We have a lot of eggs in that basket.
I noted last year that as the economy shut down the rich neighborhoods were full of tradesmen remolding both for owners and for profit. Also need that foreign money to keep pouring in to justify the prices
Orange County prime ocean is where Beverley Hills was and the high end in LA on a big flat lot with 20,000 sf is near 100 million
Somebody has money -
For the guy who wants to shit in a different toilet every day of the month.creepycoug said:
$100 million for a house. JFC. There's a lot of money in that white powder.RaceBannon said:
Everyone doescreepycoug said:
How fucking dependent on housing is our economy?RaceBannon said:The low mortgage rates are the thread keeping the whole thing together just like low interest rates keep the borrowing going.
science
Btw that's good for Creepy's company bidness, but still. We have a lot of eggs in that basket.
I noted last year that as the economy shut down the rich neighborhoods were full of tradesmen remolding both for owners and for profit. Also need that foreign money to keep pouring in to justify the prices
Orange County prime ocean is where Beverley Hills was and the high end in LA on a big flat lot with 20,000 sf is near 100 million
Somebody has money -
Interest rates never hit 15-16% at anytime in the 1970s let alone the early 70s but cool story bro. It's almost like a story a whiney Kunt would tell.dflea said:
Do tell. I'm not the only one here whose folks were paying 15-16% on their first mortgage back in the early 70's. In fact over the last 50 years, the rates have been below 6% for about 10 of them.LoneStarDawg said:Imagine thinking an “MBA in finance” is supposed to impress people.
No shit the loss isn’t realized until you sell. If rates pop up to ~6% nobody is buying anyone’s 800k home nor able to borrow at that rate.
What a dumb fuck.
No need to spaz like you're in some Tug thread. -
At this bored, we say, "You must be mistaken, good sir."SFGbob said:
Interest rates never hit 15-16% at anytime in the 1970s let alone the early 70s but cool story bro. It's almost like a story a whiney Kunt would tell.dflea said:
Do tell. I'm not the only one here whose folks were paying 15-16% on their first mortgage back in the early 70's. In fact over the last 50 years, the rates have been below 6% for about 10 of them.LoneStarDawg said:Imagine thinking an “MBA in finance” is supposed to impress people.
No shit the loss isn’t realized until you sell. If rates pop up to ~6% nobody is buying anyone’s 800k home nor able to borrow at that rate.
What a dumb fuck.
No need to spaz like you're in some Tug thread. -
If you were trying to save for retirement during the early to mid 80s the only investment advice you'd get would be to put your money into a CD.HHusky said:
I think my boss paid 18% in 1982 or thereabouts.dflea said:
Do tell. I'm not the only one here whose folks were paying 15-16% on their first mortgage back in the early 70's. In fact over the last 50 years, the rates have been below 6% for about 10 of them.LoneStarDawg said:Imagine thinking an “MBA in finance” is supposed to impress people.
No shit the loss isn’t realized until you sell. If rates pop up to ~6% nobody is buying anyone’s 800k home nor able to borrow at that rate.
What a dumb fuck.
No need to spaz like you're in some Tug thread.
Of course, my money market account was paying 15% too. -
Just refi'd to a 15 year fixed at 2.375% in November. Immediately went from paying about 57% to the interest each month to paying 72% toward the principal each month. Playing around with paying an additional $500 each month and the savings in interest over the life of the loan are not insignificant. I went from thinking I'd always have a mortgage to realistically paying this place off in less than 10 years. If I can get my wife to stop buying expensive cars and put that money toward the mortgage I could have the place paid off before I retire.
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That's a good deal. If you're convinced like @HoustonHusky that the Fed will keep this house of cards propped up for a while longer, you might take that $500 and put in the market. The net gain is easy against 2.375% interest, and your house is increasing in value as well.SFGbob said:Just refi'd to a 15 year fixed at 2.375% in November. Immediately went from paying about 57% to the interest each month to paying 72% toward the principal each month. Playing around with paying an additional $500 each month and the savings in interest over the life of the loan are not insignificant. I went from thinking I'd always have a mortgage to realistically paying this place off in less than 10 years. If I can get my wife to stop buying expensive cars and put that money toward the mortgage I could have the place paid off before I retire.
I went to a 15 year back a billion years ago at 4.5%, which relative to where they'd been bumping along was like a home run for timing the market. It was miraculous. And that 15 years flew by quickly. No question that in hindsight that move will be amongst the most significant financial moves you'll ever make unless you get in on some private equity thing and hit it out of the park or unless you're one of thee investment wizbangs that lurk around here. I am not that person. I don't have the balls for it.
