Here’s another one for the hate readers:
Source:
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Just a subtle 80% increase in mortgage payment in 2 years
Man that one checks all the boxes. Inheritance, humble bragging, idiocy and fake “question.”
“I can’t understand how our similarly-situated neighbors can afford $15,000 vacations every year.”
“Also, we give at least $75,000 per year to charity.”
wintcandlememe.gif
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I found this interesting. Had no idea but demand for mortgage bonds is way way way down without the fed buying. I don’t fully understand why.
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Average rate on a 30 year mortgage is now 6.13%. Who knows how this plays out but seems likely people just won’t move unless they have to.
Got 3% on a 10 year ARM that started this month.
Might have to sock away enough cash to pay off the rest of my principal in 10 years
Kicking myself a little bit for not getting my act together and buying a place last year. Although was partly because none of the inventory available quite fit what I was looking for.
I did notice the first substantial price cut that I’ve seen in a long time, so maybe that’s the flip side of all this craziness.
It’s amazing how fast it turns. It was still bidding wars all cash etc. like a month ago.
Welp, not staying on the sideline long as we’re putting in an offer today BUT lowballing the shit out of it (75% of list price fwiw). They’ll probably reject it or counter but at least if it gets accepted I won’t feel terrible about it due to our low offer. We haven’t had a chat with our realtor in a little over a month but he says things have mega slowed down and his team is only getting about 1 deal per week now. I don’t recall how big his team is and forgot to ask in the moment.
Well that was fast.
https://twitter.com/carlquintanilla/status/1536740821621428225?s=21&t=gkPFFuq1LoCS8Fx76l-oag
goddamm it after buying in the summer of 2008 i’m going to do it again aren’t i?
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lol at me ever fucking being able to buy a house
Maybe it’ll work out if I can bounce back financially from what inflation has done to me and the market stays down, maybe I can put a shit ton of money down. But I suspect institutions will sweep into all the desirable areas if the housing market dips much at all.
I’d like a law applied to single family homes, townhouses, condos where only individual owners can rent them out and limit one rental property per owner. So you can own a house and have a second house you rent out, but that’s it.
No corporations renting houses to people. No businesses. Just individual owners for individual properties. Businesses can continue to own houses if they like. They just can’t collect rent.
Could make for a good California ballot initiative.
Fight nothing can be built with you can’t rent out more than you live in.
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Any stats on how many homeowners have a variable rate mortgage?
Who will build apartment buildings?
Thankfully the APY on my high-yield savings account is starting to inch itself back up! 
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Apartment buildings are not part of the law. That is multi-family housing.
If there is a deed for each unit, the law applies.
I support this, and/or progressively higher property taxes on rental properties based on how many you own. But of course you have to protect against loopholes or BlackRock will just start like 5 million subsidiarity corporations each owning one home.
The benefit of the tax solution is not attempting to force the sale of previously owned properties as literal wealth redistribution. You’re just trying to force it voluntarily by making it less and less profitable.
I haven’t dug too deeply into it but one idea I like on the surface is just taxing land.
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