Rates .
So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
Great question!
DIY Double Decker Bus Tiny House Conversion
Family of Eight
Family of Eight
Let this video show you what life will be like every morning if you fuck around and get forclosed on and begin that shelter living.
$300k @ 2.5 % = $1185 principal
$300k @ 5.2% = $1647 principal
$462 a month increase in cost of living and that’s on top of inflation and higher gas.
How high mortgage rates are impacting B.C. home sales and prices
Properties are selling for less and staying on the market longer, recently released reports on real estate in British Columbia show.
B.C. tenants face extra rent hikes to fund landlords' repairs – and they're permanent
Tenants' advocates are urging the B.C. government to reconsider a policy that allows landlords to cover the costs of repairs and improvements on their properties using supplemental rent hikes.
Rent increases to offset growing costs and expenses
To raise rent above the annual rent increase limit, landlords must have the tenant's written agreement or apply to the Residential Tenancy Branch (RTB) for an Additional Rent Increase for Expenses or an Additional Rent Increase for Capital Expenditures.
www2.gov.bc.ca
Nomadic Introvert
Van Life
This bird has a good paying job, sold her house and got herself a RV Van.
I watched a number of her vids over the weekend, they are pretty informative on the Van lifestyle.
This is what I posted earlier about these RV’s. White folks are doing it big time and YouTube is flooded with White folks showing the life.
Some Black folks are getting into it….slowly.
Van Life
This bird has a good paying job, sold her house and got herself a RV Van.
I watched a number of her vids over the weekend, they are pretty informative on the Van lifestyle.
This is what I posted earlier about these RV’s. White folks are doing it big time and YouTube is flooded with White folks showing the life.
Some Black folks are getting into it….slowly.
That’s cool if your young with no kids or retirement age with no kids, but not at all practical.
There are families doing it.
And Black families are getting into it.
This family has a ton of vids on RV life.
You gotta think outside the box when doing this, it’s not for everybody, but with what’s going on in housing and all these folks out there with good jobs and good pay that are homeless, it’s a good option.
I would definitely go this route instead of living in a no-tell, shelter or family/friend house.
This is something they need to look into, especially Black folks.
Black Family Living Full Time In A Class C RV
Class C RV
Vancouver rents: $1,450 a month for a loft bed in a living room shared with 1 woman, 3 rabbits
Finding herself unable to afford her rent, a Vancouver woman was desperate to stay in her suite – so she crammed into the corner of her living room and posted an ad looking for a roommate to share the small space with her and her three rabbits.
As always! Rates dip, prices spike, a frenzy to buy ensues—but with qualified buyers. Cities overbuild and there a ton of vacant shit. Prices come down, vacants get bought up, rates settle and areas are fucked by the influx of broke-ass people able to buy where they couldn’t before. People sell to avoid the decline of the area and a once-prominent area becomes ghetto and the upper class move further out. Flash forward, the upper class tire of the commute and gentrify areas again.
Lesson: stop trying to catch a falling knife. This shit about not enough houses is nonsense. Save your money and be ready to pounce in 18-24 months.
So state reps gone pocket the 130?
They'll return the money to the US Treasury. At least that's what the article said. It wouldn't surprise me if they "misplace" some of the money.
Devils hate to see us get ahead or catch up
Should be illegal
Ok gentlemen, I have some real dumb/amateur questions and this seems like as good a thread as any to finally ask them. I'm familiar with a lot of the RE jargon but fuzzy on the specs, and need to finally get my head wrapped around things so I can apply them to my situation going forward.
My apologies and thank you in advance:
1. Variable vs. Fixed rates: Are the definitions of these as simple as they seem? If so, why would anyone ever go with a variable rate instead of a fixed rate? Is it based on credit history and other factors like how much of a downpayment you put down?
1a. Are variable rates impacted by the interest rate fluctuations, while fixed rates are locked in and stay as is no matter what?
2. Do any of ya'll have any experience in the scenario where a family member passes but was still paying a mortgage on their home? Does it automatically go back to the bank or can a family member take it over? (might be more of an estate question)
... I had some others but they've escaped me for now.
My apologies and thank you in advance:
1. Variable vs. Fixed rates: Are the definitions of these as simple as they seem? If so, why would anyone ever go with a variable rate instead of a fixed rate? Is it based on credit history and other factors like how much of a downpayment you put down?
1a. Are variable rates impacted by the interest rate fluctuations, while fixed rates are locked in and stay as is no matter what?
2. Do any of ya'll have any experience in the scenario where a family member passes but was still paying a mortgage on their home? Does it automatically go back to the bank or can a family member take it over? (might be more of an estate question)
... I had some others but they've escaped me for now.
Never get a Variable rate. Always go fixed. Variable rates or for people usually doing flips. If you plan on staying there always go fixed. Variable rates and ARMS are what fucked mad people during the 2008 collapse. Start off low then after 5 years their rate shot up double causing their mortgage rate to go crazy.
I’m in process now for a HELOC
How does that work? I am thinking about doing this as well....I am not selling my condo in DC and will be renting it out....I've been paying my mortgage now for over 10 years....