It's amazing how these banks I think very few people even heard of before too.
Another article showing concern in the housing market- yet the author may have lacked critical thinking
- Thread starter GON
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Yup, let them crash and burn, I could care less. Let them run like a business or fail, Im sick that people allow our money to bail them out. Once again, special interests win and all I will say. (no politics)
GON
$100 Site Donor 2023
Never ever happen.
Of course, JP Morgan gets these so called "failed" bank assets for next to nothing, resulting in them being the largest bank in the USA, too big to fail, and more reduction of bank competition.
AG- so goodbye to your "cashback" credit cards in the next decade or so.
Here’s another indicator for those searching for recession signs.
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Are they going to tax my fried rice coupon at the Chinese place too.
Since this is a housing thread - I presume everyone has heard of the plan to charge good credit people more in loan origination so they can charge lower amounts to those with bad scores. https://www.cbsnews.com/boston/news/mortgage-fee-changes-good-high-credit-scores/
Not really entirely accurate. They're reducing the discount for some borrowers with good credit on some transactions and reducing the penalty for some borrowers with bad credit on some transactions.
Its all part of dumbing down society and no longer rewarding good behavior. The reasons are political of course and can not be discussed here.
And if congress decides to retroactively reduce its mortgage principal (debt limit) everything thus far will be meaningless and we will have a depression and housing will be in free fall.
It’s unfortunate that there are people dumb enough to believe you can negotiate things you already agreed to pay for 5-10 years ago and that there won’t be a permanent loss of prosperity for everyone in the aftermath . Basic things like power, imports, air traffic, food may hault delivery.
Home interest rates may double, even if you pay your mortgage on time…
if your mortgage is defaulted on by the bank it can get called in full and at best require rewriting at market rate to an unknown entity
(if an entity is even willing to buy the debt after your mortgage is dissolved).
Disagree and you can pay in full or get the hike.
Bailouts , lol won’t happen if the debt limit isn’t touched, our entire system falls apart without an increase to the debt limit
welcome to 1885.
Nothing like unnecessary manmade problems.
It’s unfortunate that there are people dumb enough to believe you can negotiate things you already agreed to pay for 5-10 years ago and that there won’t be a permanent loss of prosperity for everyone in the aftermath . Basic things like power, imports, air traffic, food may hault delivery.
Home interest rates may double, even if you pay your mortgage on time…
if your mortgage is defaulted on by the bank it can get called in full and at best require rewriting at market rate to an unknown entity
(if an entity is even willing to buy the debt after your mortgage is dissolved).
Disagree and you can pay in full or get the hike.
Bailouts , lol won’t happen if the debt limit isn’t touched, our entire system falls apart without an increase to the debt limit
welcome to 1885.
Nothing like unnecessary manmade problems.
The problem is that authorization to spend is a separate legislative event to authorization to pay.
Second problem is that people think the debt ceiling is more than a political stunt for the opposing party.
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uh - no. Well maybe the part about the fiat dollar crashing.
Just because they don't increase the debt ceiling doesn't mean there out of money. FY 2022 budget was $6.27T of which $4.9T was taxes aka what they call "revenue", like they did anything that deserved payment.
So they can make 78% of all payments without borrowing one more cent, ever just from tax dollars coming in daily. Furthermore, $4.9T was more than the entire budget in 2019, so while there has been some inflation, there is still lots of money. Could your family live through a spending cut back to 2019 levels? My bet is most could.
There are some things that by law that have to be paid, like social security, and the debt payments per the 14th amendment. There really is no constitutional requirement for welfare payments and the like.
But don't fret. Despite what you hear its Kabuki theatre. There could even be a short technical default for emphasis. But congress likes their cushy pensions also, so we will print more money eventually.
Yup, same story all the time, the ceiling legislation is junk, nothing more than a media extravaganza.
Media eats it up, public goes “oh my” , people talk about it in forums
and ultimately we move onto the next subject.So we “march on” despite interest rate increases home prices continue to climb, inventory low, existing home inventory in the gutter, so far so good for me.
“The National Association of Realtors last week reported price rises in roughly half of the country, multiple offers and many homes being sold above list price.”
Source = https://nypost.com/2023/05/30/big-s...k-could-call-for-another-2008-housing-crisis/
“The National Association of Realtors last week reported price rises in roughly half of the country, multiple offers and many homes being sold above list price.”
Source = https://nypost.com/2023/05/30/big-s...k-could-call-for-another-2008-housing-crisis/
GON
$100 Site Donor 2023
The National Association of Realtors that you discussed in your post matches exactly to what I am seeing in the 16 markets I am tracking.
The only homes I see that are not under a contract five days after listing is a home with a significant flaw, or priced way, way over market.
The hottest state on my radar continues to be Arizona.
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