(Thread IKs:
skooma512)
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Twerk from Home posted:They will, the Fed are big babies and are about to turn the money hose back on and we'll all dance in the money. Can i have some of the money
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Nov 2, 2023 20:06
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| # ? May 25, 2024 07:38 |
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Shear Modulus posted:Can i have some of the money can you afford a down payment?
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Nov 2, 2023 20:07
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ben shapino posted:can you afford a down payment? im down for a payment
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Nov 2, 2023 20:10
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They'll just pass a law banning refis to guarantee profits for banks.
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Nov 2, 2023 20:11
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Twerk from Home posted:They will, the Fed are big babies and are about to turn the money hose back on and we'll all dance in the money. ZIRP should have died 10+ years ago but the money hose was kept on because no one wanted to be the one responsible for pressing the button that says: 'crash the economy, number goes down, no more DOW UP +10% everyday = President GoodEconomy; destroy VC unicorn tech fartapps that are the reason there's blossoming bespoke axe throwing bars and luxury dog spa; muh house value goes down' until they were absolutely forced to because extremely dire times are on the horizon. so it's now on a mandatory cooldown that not even Feds + Dems can avoid, but the cooldown is there to re-charge the ZIRP potential so they can unleash it again when the truly dire times arrive
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Nov 2, 2023 20:13
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y'all still don't get it. you can use multiple ZIRP juices on a single economy
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Nov 2, 2023 20:15
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 lmao
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Nov 2, 2023 20:16
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based
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Nov 2, 2023 20:17
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https://twitter.com/TODAYshow/status/1720041633213747261?t=_NEES3GzPLcqdJNYcCSppg&s=19 The morning shows also broke the bad news today lol
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Nov 2, 2023 20:30
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Shear Modulus posted:Can i have some of the money The money is only for house-havers
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Nov 2, 2023 20:31
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I'm waiting for the ultimate rug pull where they bring back the "only land owners can vote" thing as a way to do voter suppression against anyone too poor to buy a house.
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Nov 2, 2023 20:34
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poemdexter posted:I'm waiting for the ultimate rug pull where they bring back the "only land owners can vote" thing as a way to do voter suppression against anyone too poor to buy a house. That's been making the rounds on the astroturfed-to-poo poo geographic subreddits so you can be sure it's being discussed somewhere upstairs. You know, limiting voting to people with "skin in the game."
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Nov 2, 2023 20:35
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and it seems only right that if you own more land you get a bigger share of the vote
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Nov 2, 2023 20:36
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The most enlightened voting system is one dollar one vote and I won't hear otherwise.
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Nov 2, 2023 21:01
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Vox Nihili posted:hope you bought the dip!!!! dip? in this economy?
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Nov 2, 2023 21:05
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lol, maybe I will recover my investment someday.
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Nov 2, 2023 21:05
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poemdexter posted:I'm waiting for the ultimate rug pull where they bring back the "only land owners can vote" thing as a way to do voter suppression against anyone too poor to buy a house. seems excessive; the "electorate" is already a rapidly shrinking pool of the biggest fascists and the biggest rubes (but i repeat myself, natch). electoralism is currently on an organic trajectory to self-selecting against enfranchisement of the undesirables without needing much in the way of explicit and dramatic intervention
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Nov 2, 2023 21:06
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Lostconfused posted:The most enlightened voting system is one dollar one vote and I won't hear otherwise. really streamlines our political corruption process imo, efficiency above all
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Nov 2, 2023 21:08
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Xaris posted:yeah, I don't see a way that ZIRP doesn't come roaring back next president or two. zirp can’t come back because we’ve reached the terminal point of that particular monetary contradiction. there is so much fictitious capital chasing so little productive investment that there’s no outlet for further lending other than the stock market and real estate, which is also at a critical point. the only way forward is the kind of neoliberal military command economy that we’re currently living under. the truly dire has already arrived. there’s no going back
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Nov 2, 2023 21:10
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We're definitely going to try though
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Nov 2, 2023 21:20
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Pussy Quipped posted:talking to the few people I know who have bought homes in the last year, every single one of them will be paying more in interest than principle over the 30 years. They all assume that they are going to just refinance in a year or two with a lower rate.
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Nov 2, 2023 21:28
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does this thread keep showing the same final page on different days for anyone else, or do i live in groundhog day
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Nov 2, 2023 21:34
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Centrist Committee posted:zirp can’t come back because we’ve reached the terminal point of that particular monetary contradiction. there is so much fictitious capital chasing so little productive investment that there’s no outlet for further lending other than the stock market and real estate, which is also at a critical point. the only way forward is the kind of neoliberal military command economy that we’re currently living under. the truly dire has already arrived. there’s no going back but this anyways: Nothus posted:We're definitely going to try though it's like saying that draining the SPR to keep gas prices low in the midwest is a fools errand since we have to refill it and will eventually run out. doesn't mean we won't do that Xaris has issued a correction as of 21:39 on Nov 2, 2023 |
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Nov 2, 2023 21:35
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They recently changed the rules so that only cash given by parents counts as a gift for the purposes of calculating the downpayment. A down payment gift letter that legally confirms the gifted down payment is required by the bank to ensure all your bases are covered and that the gift is valid. Previously, a gifted down payment was a large financial gift offered by a first-time homebuyer’s family members - grandparents, aunts or uncles, any member of an individual’s family were eligible to gift money for a down payment in Canada. 5% down is required to purchase your first house. However, most banks suggest putting 20% down because mortgage insurance is required when the down payment is less than 20%. Suppose you can afford to put down 5% and your extended family give you the remaining 15% as a gift, bringing your total to the preferred 20%. Your mortgage payment is now less each month, and you pay less in mortgage insurance. Okay, so - why did they decide to limit this to parents only? Don't they want more people reaching out to extended family or whatever? My immediate thought is that this is a way to prevent more foreigners from buying houses, since they have closer extended families and everything, bring in relatives on visas, but it's a Liberal government in power and this seems like it alienates their bases of Toronto suburb immigrants.
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Nov 2, 2023 21:37
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https://twitter.com/elerianm/status/1720159635800498294?t=kG_VtYGe8dTf7gAGT8wZBg&s=19
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Nov 2, 2023 21:37
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Frosted Flake posted:5% down is required to purchase your first house. However, most banks suggest putting 20% down because mortgage insurance is required when the down payment is less than 20%.
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Nov 2, 2023 21:47
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Car Hater posted:nah you can't educate stupid out of us, we're too good at it. yes. Car Hater posted:Society has always been doomed no.
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Nov 2, 2023 21:49
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shrike82 posted:anyone who bought a house over the past 15 years got to get a mortgage around 3% so the angst is pretty much limited to people who have decided to buy after the interest rate hikes What about people tha can't buy because private equity decided to become massive landlords?
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Nov 2, 2023 22:13
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Nov 2, 2023 22:30
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https://www.youtube.com/watch?v=i79Xk4YSsyk
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Nov 2, 2023 22:33
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Chad Sexington posted:Remember how they got rid of defined benefit pensions and replaced them with the 401K, shifting retirement investment risk onto employees? I guess the new thing now at least at IBM is a "Retirement Benefit Account." This is genius. We all know big companies never had any previous problems with their pension obligations that were made up of smoke and mirror accounting. And here, instead of monthly payments that will go away when the pensioner passes away, these will be single lump sums due at employee severance. Probably not huge, but if this program sticks around awhile, can (and will) bite them in the rear end when they have a large layoff event.
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Nov 2, 2023 22:43
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Lostconfused posted:The most enlightened voting system is one dollar one vote and I won't hear otherwise. world of warcraft players figured this out a decade ago. one dollar = one vote, and then after the election the total spent dollars get distributed evenly amongst the voters
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Nov 2, 2023 22:46
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Frosted Flake posted:5% down is required to purchase your first house. However, most banks suggest putting 20% down because mortgage insurance is required when the down payment is less than 20%. Suppose you can afford to put down 5% and your extended family give you the remaining 15% as a gift, bringing your total to the preferred 20%. Your mortgage payment is now less each month, and you pay less in mortgage insurance. my mortgage insurance is $39.50 a month, I'm fine with paying that and keeping the 15%
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Nov 2, 2023 22:50
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Woke Mind Virus posted:yeah but you can just refinance if they do Refinancing fees include a couple % of the loan balance in closing costs. Considering how much money it costs these days to buy a freaking house, that's potentially a lot of money even if you roll the closing costs into the balance. It will take years worth of savings to catch up on what you had to pay if you roll it into the loan. ARM may in fact be cheaper depending on what happens with rates, but yeah there are a lot of people who are buying a house and gambling they can hang on beyond their means until rates lower and they stop drowning. Assuming they don't just end up losing everything, they could always refinance into a fixed rate to lock in whenever the rates come back down, however long that takes. It's a generally terrible position to be in and realistically the best way to buy a house these days is to pay cash for most/all of it, which is what everyone is doing wherever possible. Problem is you have to either be rich or enough equity from an existing home to make it affordable. If you aren't one of these things, you're hosed. Institutional investors can of course just buy it with cash and slap real estate on the asset side of balance sheet. I can only be thankful that I managed to barely afford getting into a house in 2019 before it went totally out of control. At this point it's essentially out of reach in most places for a huge percentage of the populace.
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Nov 2, 2023 22:51
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same
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Nov 2, 2023 22:57
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From hero to zero: is this really Marvel’s endgame? apparently marvel / MCU is dead
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Nov 2, 2023 23:14
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don't care about developmentally-stunted manchild entertainment give me more real entertainment, like alan wake 3 instead
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Nov 2, 2023 23:16
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Pittsburgh Fentanyl Cloud posted:please don't expect me to read posts
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Nov 2, 2023 23:21
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only one thing can save American cinema that's right, a reboot of Titanic
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Nov 2, 2023 23:21
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| # ? May 25, 2024 07:38 |
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gotg3 was terrible lol
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Nov 2, 2023 23:23
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