Crime Trump, 50 year mortgage?

[scorpiorising]

Damn, that must be a pretty nice house.

You equity position is also really solid - you have clearly made this debt work for you.

Its a tear down old house in a nice area.

Right around here https://goo.gl/maps/yx5diYuS8koNnGSK9

 

[nostradumbass]

In your mind, if someone is seeking to own and they don't get a house, they'll turn their nose up at the other options and go back to renting?

Your logic doesn't make sense. Plenty of houses have HOAs and other expenses and you claim that condos are too small but somehow apartments aren't.

Correct, there is not a huge market demand for people who want to buy apartments. People who want to buy are doing it because they plan to be in a place permanently and raise a family. Apartments are far more transient. Apartments are much cheaper than houses, so if people wanted to buy, a ton more of them could already do that.

Single family homes are 84/16 buyers vs renters, 5+unit apartment building are 92/8 renters, and it's not because houses are cheaper or easier to buy, it's because the people in apartments are young people who relocate at 3x the rate of people over 40.

 

[Sinister]

You will own nothing, and like it.

Between this and the State ownership stakes in private businesses, Trump is turning out to be quite the Commie, well the version of Commie that Americans think Commies are.

Also love the Faux News interview where Laura Ingraham inadvertantly revealed that Trump hasn't the foggiest f*cking idea how mortgages work.

 

[KAZSoliloquy]

Of course you can.... tax breaks and subsidies is how you incentivize the behavior you want.
To disincentivize just do the opposite... tax hikes and penalties on the behavior you don't want .

so in other words, exactly what i just said lol

 

[Croaker]

I mean that's my point, you only incentivize building the types homes that are in shortage like single family, not this other stuff. The reason the prices are so high is because there's not enough supply.

For taxing/penalizing, you would have to target properties that aren't being used as a primary residence, and/or target/cap profits on rentals. Also reduce taxes on sales. All this this would push them to sell these properties, and boost housing inventory without building new homes.




The problem with this is its another demand based solution. There is already enough demand among people with children to buy homes, and the competition is fierce, so whatever money you give them is just going to drive up prices even more. The problem is supply, you need ways to get more homes (both new and existing) to be on the market for sale.

If the homes are already being taken by families you aren't boosting inventory. People aren't sitting on empty houses that are able to have people rent to generate revenue. I'm sure you can find some cases, but thats not the overwhelming majoirty of the market, anywhere.

It's a results based solution. Instead of penalizing companies you give them incentives to get a faster ROI. The entire problem is sitting on investments to maximize profits year over year. You need a trade off that offsets that.

 

[Belaya Smert]

Not only you can pay more for 50 years loans.

You can get a higher APR also.

This is stupid and Black Rocks fault. 47 is trying to cover for his shit economy.

 

[N13]

Powell will probably be replaced when his term is up, but that is only one of the 12 voting members of the Fed who decide on the rates

Well, Trump already has some of his people in there already. As it is, the Fed has lowered rates by 25 basis points twice and they will do it again in December.

 

[N13]

Powell will probably be replaced when his term is up, but that is only one of the 12 voting members of the Fed who decide on the rates

Fed chair Bostic Of the Atlanta fed has Retired. This gives Trump another pick to replace him.

Trump appointees will get Fed board majority when Powell is gone – and it matters​

When will Trump-appointees gain Board majority​

How far are Trump-appointees from gaining a majority in the Fed’s Board of Governors? Currently, there are only two Trump-appointed governors— Michelle Bowman and Chris Waller.

At the end of January, the term of Governor Adriana Kugler, a Biden appointee, will end. Treasury Secretary Scott Bessent has already indicated that the administration intents to fill this board seat with their candidate for the next Fed chair.

Then, when Powell leaves the board — either in May 2026, when his chair term ends, or anytime until January 31, 2028, when his governor term ends — Trump will have the chance to appoint another governor. He/She would be the fourth Trump-appointee and also the point at which they hold a simple majority at the seven-member Board.

With Bostic, that would be one more. 5 of 7.

 

[jk7707]

Trump is eating shit for this, and of course, instead of taking responsibility he's blaming others for the idea that he obviously supported.

 

[N13]

Fed funds rate chart:



Look at the rate for 8 Obama years. Then it goes up for Trump. Then it goes down for Biden. Then it sky rockets for Trump prior to his second term.

Look at the 0% rate for 8 years of Obama. Trump wants that action and he is going to get it.

 

[Striderxdj]

I don't see how this doesn't result in a high rate foreclosures and bank seizures of homes on people who go 50 year, but maybe that's the point.

It's renting with extra steps

Its 100% the point. These scumbags snatched up all the property they could after the last crash up until covid and now that interest rates are up and prices have skyrocketed, a lot of people write off the losses and leave properties unoccupied rather than lower prices. Builders aren't in any hurry to keep up with demand in a way that will lower prices to any significant degree either.

This is the "Rent-a-center" version of a home loan, something that has abused poor/stupid people for decades by selling them a Playstation 5/Big Screen for "only $25 a month!" But in the end they are paying $3k for a $500 item, or destroying their credit, losing what they bought, and the company/bank/lender still makes money.

 

[WhiteMousse]

Holy god I'm never getting a fucking house.
Trump sucks. Dems suck. Reps suck

 

[Striderxdj]

Holy god I'm never getting a fucking house.
Trump sucks. Dems suck. Reps suck

Tell me about it. I have an 815 credit score, almost no debt (just a few grand on my car loan), make just shy of 6 figures and even a 2 bedroom shoebox apartment costs 2 grand a month, its insane. I fear for my son as he is 15 and will probably never be able to afford to move out on his own... When I graduated from high school, I worked at Frys Electronics, had a luxury apartment with a friend, a new car, and plenty of spending money... That isnt remotely possible for this generation.

 

[jk7707]

Fed funds rate chart:

View attachment 1121009

Look at the rate for 8 Obama years. Then it goes up for Trump. Then it goes down for Biden. Then it sky rockets for Trump prior to his second term.

Look at the 0% rate for 8 years of Obama. Trump wants that action and he is going to get it.

Jeez. It's almost like there was a titanic economic crash just before Obama took office. And another one at end of Trump's first term. Are you really this stupid?

 

[N13]

Jeez. It's almost like there was a titanic economic crash just before Obama took office. And another one at end of Trump's first term. Are you really this stupid?

You are missing the point, but fine, have it your way.

Get back to me in a few months when the fed funds rate is below 1%.

 

[jk7707]

You are missing the point, but fine, have it your way.

Get back to me in a few months when the fed funds rate is below 1%.

No, I am illustrating the point that when Republicans are in control of the government, they have been completely fucking up the economy for decades, and in the aftermath of their economic disasters, the Democrats have benefited from lower interest rates.

 

[N13]

No, I am illustrating the point that when Republicans are in control of the government, they have been completely fucking up the economy for decades, and in the aftermath of their economic disasters, the Democrats have benefited from lower interest rates.

Anyone who has those fed rates will benefit politically. And the people do quite well.

It's Trump's turn now.

 

[MeatheadMike]

Well, Trump already has some of his people in there already. As it is, the Fed has lowered rates by 25 basis points twice and they will do it again in December.

They are seemingly doing that because they are afraid that unemployment has been ticking up though. All their decisions regarding holding or cutting rates have been pretty much unanimous, The last decision to lower rates was 10-2 so, at least for the the time being it doesn't seem like its because of Trump's pressure.

 

[MeatheadMike]

Fed chair Bostic Of the Atlanta fed has Retired. This gives Trump another pick to replace him.

Trump appointees will get Fed board majority when Powell is gone – and it matters​

When will Trump-appointees gain Board majority​

How far are Trump-appointees from gaining a majority in the Fed’s Board of Governors? Currently, there are only two Trump-appointed governors— Michelle Bowman and Chris Waller.

At the end of January, the term of Governor Adriana Kugler, a Biden appointee, will end. Treasury Secretary Scott Bessent has already indicated that the administration intents to fill this board seat with their candidate for the next Fed chair.

Then, when Powell leaves the board — either in May 2026, when his chair term ends, or anytime until January 31, 2028, when his governor term ends — Trump will have the chance to appoint another governor. He/She would be the fourth Trump-appointee and also the point at which they hold a simple majority at the seven-member Board.

With Bostic, that would be one more. 5 of 7.

Afaik Trump would not get to nominate Bosic's replacement, it would have to come from the Atlanta Fed's board of directors and would be have to be confirmed by the current Fed's governers.

I'm sure he will try to put pressure to get someone he wants in there, but similar to supreme court picks, even his own apointees aren't exactly guaranteed to do whatever he wants since they aren't beholden to him... like Powell himself who was nominated by Trump during his first term. The whole system was designed this way pretty much for this reason.

 

[N13]

They are seemingly doing that because they are afraid that unemployment has been ticking up though. All their decisions regarding holding or cutting rates have been pretty much unanimous, The last decision to lower rates was 10-2 so, at least for the the time being it doesn't seem like its because of Trump's pressure.

They are doing the right thing given the situation.

I like your posts.

Most people think that the federal Reserve is a part of the government, but it's a privately owned bank, part of the global central banking system.....