My post didn’t speak on anything but the fact that prices DO GO DOWN.
edit…prices go down in California
The U.S. Will Become A Nation of Renters
- Thread starter 850credit
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My post didn’t speak on anything but the fact that prices DO GO DOWN.
edit…prices go down in California
I didn't say that.
The housing crash affected regular folk who were given mortgages they couldn't afford.
Because of tightened regulations and qualifications, sub prime mortgages, which are rebranded as non-prime mortgages, aren't as prevalent, although they do still exist and have increased somewhat over the past couple of years.
‘The recession caused people to lose their jobs. Not all 10 million people who lost their homes had sub prime mortgages.
You're correct that there aren’t as many sub primes now, but if you lose your job, it doesn’t matter what kinda mortgage you have, if you can’t pay it.
We’ve had recessions and depressions before. We’ll have them again.
We’ve had housing bubbles burst. We’ll have them again.
We’ve had huge corrections in the stock market. We’ll have them again.
Notice a pattern?
We’ve had more than one world war…
We’ve had multiple pandemics..
History repeats itself and there are NO ABSOLUTES
I agree.
And I never said we can't have a housing crash. I specifically said we will not have one "like before" due to the parameters being so different.
They do, my point is that I currently owe less than my home sold for when it was built, and less than I paid for in my current home that just paid for my condo. Timing is everything.
My post was directed at @Dr. Truth.
He said it's a fact that housing prices in Ca. don't go down...
Funniest thing I heard all day..
They don’t go down , you think there’s going to be another 2008? Banks aren’t giving those fake ass loans out like that anymore. That’s what caused the crash . If you think that phenomenon will happen again you on one. Things will level off and stay where they are but nothing is going down other than rent prices .
If you are a 100% total and permanent disabled veteran you get a huge break on taxes and mostly don’t have to pay much closing on your home you buy again. As you know you can actually use your VA home loan up to 3 times if needed and if you didn’t use your ceiling approved money you can buy another house if you can afford it. And if you were in a VA loan before the pandemic it’s hard to lose your house. I mean it’s got to be really bad for them to take it. I almost came close to selling my house but the market is ridiculous now, the money I’d pocket on the equity and payoff would just go into the new house so I’m here chilling.
As a military veteran I don’t pay shit in taxes lol tax man eating some of my neighbors alive
Dude, when I wanna know about Chop Suey...you're first on the list.
You and your BIL know nothing about housing...
But ignorance is bliss..
Unless you living in California you should shut the fuck up
Forecast: California Home Prices Will Slow Down, Not Drop, in 2022
A recent forecast from the state's Realtor association suggested that California home prices will slow down, but not drop, in 2022.
www.loanlimits.org
Unless you living in California you should shut the fuck up
Forecast: California Home Prices Will Slow Down, Not Drop, in 2022
A recent forecast from the state's Realtor association suggested that California home prices will slow down, but not drop, in 2022.
The headline says 2022 fuckin moron.
Not only were your facts wrong...
California was dead last in 08
You can't make this kinda ignorance up
My buddy in Texas house almost doubled. He only paid 233k so he’s renting it out at its ceiling of. $2500. His mortgage is a little over 1k, his refi rate is 2.5
I hate dumb niggas who use laugh emojis to cover for their stupidity . You’re a fucking idiot. California is unique due to investors buying up inventory , housing shortages and high paying jobs. Housing prices will not drop here unless there is another massive recession like 2008 which is a once in a lifetime phenomenon. You can nervously fake laugh all you want but you don’t live here or know what the fuck you’re talking about. You stupid fuckThe headline says 2022 fuckin moron.
Not only were your facts wrong...
California was dead last in 08
You can't make this kinda ignorance up
Worst U.S. housing market in 2008? California!
By ORANGE COUNTY REGISTER
January 26, 2009 at 12:39 p.m.
California’s housing market grabbed a dubious honor: Worst in the nation in 2008!
First American Loan Performance’s year-end stats show:
@Dr. Truth ..
Enjoy this again on me..
By ORANGE COUNTY REGISTER
January 26, 2009 at 12:39 p.m.
California’s housing market grabbed a dubious honor: Worst in the nation in 2008!
First American Loan Performance’s year-end stats show:
- Home prices fell in 35 states, with California worst at down 26.9%.
@Dr. Truth ..
Enjoy this again on me..
Now you admit you were wrong by default...
You're getting closer to owning up to not knowing what the fuck you're talking about..
Couple more posts
@Dr. Truth Timeline of ignorance and my reply..or how to say something stupid AF and try to wiggle out of it...
1. Facts..Ca. prices don't drop.
proven completely wrong...dead last in the nation. The only way you wouldn't know that is if you were a child in 08. Which I'm starting to believe.
2. Bad sub prime loans caused the crash.
no a recession did. Not all foreclosures were sub prime. They were just the scapegoats...you wouldn't know a sub prime loan from a sub sandwich tho.
3.Well that was 12 years ago...14 actually, but who's counting..
I never gave a timeframe...just destroyed your notion that prices don't drop...but whether 12 or 14 years, that doesn't change how dumb your initial statement was.
Now lemme see if I can predict his next asinine statement..
Oh...forgot these for all the smiles you put on my face 
1. Facts..Ca. prices don't drop.
proven completely wrong...dead last in the nation. The only way you wouldn't know that is if you were a child in 08. Which I'm starting to believe.
2. Bad sub prime loans caused the crash.
no a recession did. Not all foreclosures were sub prime. They were just the scapegoats...you wouldn't know a sub prime loan from a sub sandwich tho.
3.Well that was 12 years ago...14 actually, but who's counting..
I never gave a timeframe...just destroyed your notion that prices don't drop...but whether 12 or 14 years, that doesn't change how dumb your initial statement was.
Now lemme see if I can predict his next asinine statement..
Oh...forgot these for all the smiles you put on my face
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Did you serve in combat?As a military veteran I don’t pay shit in taxes lol tax man eating some of my neighbors alive
My buddy in Texas house almost doubled. He only paid 233k so he’s renting it out at its ceiling of. $2500. His mortgage is a little over 1k, his refi rate is 2.5
The last house was just sold at 364000. I could sale my crib now for over a 100k profit but im staying put. Perfect location, 15 minutes from downtime and the med center, multiple freeways to move around, traffic aint bad.
Why the ceiling of $2,500?My buddy in Texas house almost doubled. He only paid 233k so he’s renting it out at its ceiling of. $2500. His mortgage is a little over 1k, his refi rate is 2.5
He's renting at the max for the area and to a friend. He has solar panels on his house so the dude renting doesn't pay for power either.
It takes you 10 to 15 years to save up for a down payment, many people don't consider home ownership until their 30's. Than it is another 20-30 years of stress to pay off some mortgage that may cripple your earning potential since you are locked into a small area of a city. I have seen people forced to drive 2 hours to work because they can't pick up and move closer to their job. You have to factor in your life expectancy and years you can have title and own property.
Many people are really real estate speculator, using the banks money to buy something, hoping it will appreciate markedly above what you owe. Than you have to go into the market and buy an overpriced house to replace what you had unless you move to another area of the country. When you buy stock and it appreciates significantly, you don't have to replace the stock you sold because it is essential. Capital gains should be calculated for a second house you own or that takes into account the replacement price you pay.
We need to do what other countries are doing, which is being restrictive on lending for houses, requiring cash payment. Look at the delinquency rate which raises prices because people are inflating the market that should not have been in that house.
Let say I keep you as an indentured servant/slave like me for 90% of your life, with a promise to make you free for the remaining 10%. I than claim you are free become you will not be my property when you reach 70 years old. This is similar to mortgages. Many companies lease their retail stores for 30 years, why can't you for 10 years or so. You can always sign 5, 10 year leases for property.
Another stat to look at is how many houses are paid off free and clear, places like DC it is super low, indentured servant/slave. Masta promises to free you when you get Social Security. I am trapped in a shit hole racist city, just glad I am not dealing with real estate.
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bought a house in july 2021
i overpaid for it by 30k
the previous ownere bought in less than 10 years ago and more than doubled their investment
i just got offered 100k more in cash for it
would take it, but there is nothing else on the market here that is not also overpriced
i overpaid for it by 30k
the previous ownere bought in less than 10 years ago and more than doubled their investment
i just got offered 100k more in cash for it
would take it, but there is nothing else on the market here that is not also overpriced
Has anyone tried house hacking? I want to do that with my next purchase.
Not all my spare rooms but definitely the basement at minimum.
If I could get 3 bedrooms 1 bath and a kitchenette in a basement I would rent them out for 600 each. Separate entrance...never have to see them.
Not all my spare rooms but definitely the basement at minimum.
If I could get 3 bedrooms 1 bath and a kitchenette in a basement I would rent them out for 600 each. Separate entrance...never have to see them.
Yes I did.
Im trying to do some variation of HH with my first purchase..
@Dr. Truth Timeline of ignorance and my reply..or how to say something stupid AF and try to wiggle out of it...
1. Facts..Ca. prices don't drop.
proven completely wrong...dead last in the nation. The only way you wouldn't know that is if you were a child in 08. Which I'm starting to believe.
2. Bad sub prime loans caused the crash.
no a recession did. Not all foreclosures were sub prime. They were just the scapegoats...you wouldn't know a sub prime loan from a sub sandwich tho.
3.Well that was 12 years ago...14 actually, but who's counting..
I never gave a timeframe...just destroyed your notion that prices don't drop...but whether 12 or 14 years, that doesn't change how dumb your initial statement was.
Now lemme see if I can predict his next asinine statement..
Oh...forgot these for all the smiles you put on my face
You owned that faggit@Dr. Truth Timeline of ignorance and my reply..or how to say something stupid AF and try to wiggle out of it...
1. Facts..Ca. prices don't drop.
proven completely wrong...dead last in the nation. The only way you wouldn't know that is if you were a child in 08. Which I'm starting to believe.
2. Bad sub prime loans caused the crash.
no a recession did. Not all foreclosures were sub prime. They were just the scapegoats...you wouldn't know a sub prime loan from a sub sandwich tho.
3.Well that was 12 years ago...14 actually, but who's counting..
I never gave a timeframe...just destroyed your notion that prices don't drop...but whether 12 or 14 years, that doesn't change how dumb your initial statement was.
Now lemme see if I can predict his next asinine statement..
Oh...forgot these for all the smiles you put on my face
he doesn’t have houses
Vets don't have to pay property taxes in TX?As a military veteran I don’t pay shit in taxes lol tax man eating some of my neighbors alive
Planning to use one when I rent out my place in DC...