fishweewee

Democrats pouring gas on the fire with the 40 year mortgage

Rate this topic

106 posts in this topic

2 mins ago, Nicky Da Fish said:

So is the Fed report form 1994 the issue or is 40 year mortgages? You are scattered.

no

 

it's any and all gov't intervention in making homes more affordable

 

because the opposite happens

Share this post


Link to post
Share on other sites
29 mins ago, Nicky Da Fish said:

That's an appraisal issue, not one of credit worthiness. Read up on the history of redlining.

I was just  asking a question.  An appraisal is good at the time of the appraisal.  If some areas aren't reliably holding their value, then maybe a bank would be wary of that.  It was just thinking out loud.  It pissed you off, though.

Share this post


Link to post
Share on other sites
1 hour ago, Nicky Da Fish said:

You should check those stats

Screen Shot 2021-07-23 at 12.55.55 PM.png

Pretty chart, how about including the rest of the information? A quick search on Zillow alone shows over 1000 homes for sale in Bucks county, shows a growing inventory. Back to the same place it was 18 months ago, recovered in 6 months.

Share this post


Link to post
Share on other sites

Every single time govt makes "something"  more affordable by making financing easier that "thing" gets massively more expensive for everyone

 

Share this post


Link to post
Share on other sites
17 mins ago, JimG said:

Every single time govt makes "something"  more affordable by making financing easier that "thing" gets massively more expensive for everyone

 

like college educations :bucktooth:

Share this post


Link to post
Share on other sites
6 mins ago, fishweewee said:

like college educations :bucktooth:

Definitely.... easy instant approval loans and on top of that you're considered a crappy parent if you don't borrow it and send your dopey kid off to get a useless degree.

 

I have a friend who has over 100k in loans for his daughter with a masters in social work and she has an hourly  job under 20/hour ... no benefits.  

 

I feel bad for him.   His daughter has some debt as well but isn't paying it and will probably get to walk away.  

 

 

School is paid in full though.   What a racket!

Share this post


Link to post
Share on other sites
1 hour ago, Mummichog said:

I was just  asking a question.  An appraisal is good at the time of the appraisal.  If some areas aren't reliably holding their value, then maybe a bank would be wary of that.  It was just thinking out loud.  It pissed you off, though.

Who's pissed, you had questions and I pointed you to a resource that would answer them?

Share this post


Link to post
Share on other sites

Posted (edited) · Report post

2 hours ago, fishweewee said:

no

 

it's any and all gov't intervention in making homes more affordable

 

because the opposite happens

How is expanding the criteria of conforming loans an intervention? It make criteria more liberal for lenders who seek to sell their loans. For those wanting to service them on their own, it has zero impact.

Edited by Nicky Da Fish

Share this post


Link to post
Share on other sites
1 hour ago, ihocky2 said:

Pretty chart, how about including the rest of the information? A quick search on Zillow alone shows over 1000 homes for sale in Bucks county, shows a growing inventory. Back to the same place it was 18 months ago, recovered in 6 months.

That chart is based on the most recent MLS data over the past two years. You referenced a single data point which does not define a trend. Look at any market outside of the very highest price range and you will see that inventory is well below normal.

Share this post


Link to post
Share on other sites
2 hours ago, RiverRaider said:

 

 

Good Lord do you post about anything else ever? 

You should ask the posters that brought up redlining.

Share this post


Link to post
Share on other sites
2 hours ago, Nicky Da Fish said:

That chart is based on the most recent MLS data over the past two years. You referenced a single data point which does not define a trend. Look at any market outside of the very highest price range and you will see that inventory is well below normal.

Look at your chart though, that is not a single data point. I mentioned that most recent data point that is not on your chart. There was a reduction in inventory and now the trend appears to be climbing back up. Without any further information on why, my guess would be the current influx of NYC rats. Homes are selling at blinding paces and stupid prices. Those who can are probably trying to cash in while they can.

 

We saw the same thing in the early 90's, massive influx from those escaping NYC and homes selling like crazy. The difference is this time people know what is happening and are not selling their homes are bargain prices, they are getting what the market will bear. The problem is in several years when the market collapses again people are going to be massively upside down again. The 40 year mortgage will make it worse because it is another means to play "Keeping up with the Jones'".  It allows people to live beyond their means and tie themselves to debt longer than is practical. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to register here in order to participate.

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.