Housing market

[BABMusic]

I am just wondering how they are going to give anyone over 30 years old a 50 year mortgage.

Someone will come into the bank and say, "I take my vitamins, probiotics, I meditate and work out -- I'll be around."

 

[Wizard of Ozz]

I don't see the problem with this. If a person can't afford $1500 for rent, they may be able to afford $800 for a mortgage. And yeah it benefits the banks but it can be used to get more people into homes. And if the people are responsible, they can pay the mortgage earlier by adding to the principle. It's just another tool.

Yeah... but they won't do that.

If they start giving mortgages to people that can't pay them off in 15-30 years... have a DTI higher than 40%... CS less than 600... this will only make things worse.

The trash will get a house... invite their 32 family members or sublet it to the first 17 Section 8 recipients that show up on their front porch for the "room for rent"... destroy the house... let it go in to foreclosure... walk away and let the bank try to sell it at 30% of the new price... while the surrounding home values and neighbors all suffer.

 

[Geo]

Yeah... but they won't do that.

If they start giving mortgages to people that can't pay them off in 15-30 years... have a DTI higher than 40%... CS less than 600... this will only make things worse.

The trash will get a house... invite their 32 family members or sublet it to the first 17 Section 8 recipients that show up on their front porch for the "room for rent"... destroy the house... let it go in to foreclosure... walk away and let the bank try to sell it at 30% of the new price... while the surrounding home values and neighbors all suffer.

The American people morally bankrupt, banks monetarily bankrupt.

Gotta keep feeding the machine or it stops.

 

[JDs Couch]

Guys, wait, I have an idea...

 

[Geo]

Guys, wait, I have an idea...

View attachment 423196

Someone who still lives in his parents basement should have no opinion on mortgages.

 

[Findthetone1]

Someone who still lives in his parents basement should have no opinion on mortgages.

But he has 2 businesses and VASSSSTTT farmland