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January 28, 2009 at 8:05 AM in reply to: RUMOR: Buying another house while you currently own one… #337965January 28, 2009 at 8:05 AM in reply to: RUMOR: Buying another house while you currently own one… #338058
(former)FormerSanDiegan
ParticipantWhat public policy is served by making it easier for rich a-holes to buy multiple homes?
Red herring. Rich a-holes do not need Fannie Mae backed loans. They can buy with cash or corporate/business financing arrangements.
Those who are hindered by this rule are those who buy a second house and rent out their first house as a rental property. These are your typical Mom & Pop landlords. Unlike the corporate-run large box apartment complexes, these are the people who typically rent out single-family homes. These are the folks you rent from that never raise the rent until you leave.
Perhaps you are right, maybe we should not encourage the mom & pops. The better approach is to allow all investment property to end up in the hands of corporate entities. To hell with the little guy.
I agree with your comments on research, though. Research spending in this country (both Government and within companies) has been trimmed and focused too much on the short-term.
ParticipantThe title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!
ParticipantThe title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!
ParticipantThe title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!
ParticipantThe title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!
ParticipantThe title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!
Participant[quote=sdnerd]Also noticed the same thing in my complex. Rents have increased ~$100/mo and they get snatched up fast.
I was surprised when I first noticed the trend; not at all what I was expecting.
[/quote]
sdnerd – What part of San Diego ?
I am wondering whether these anecdotes are in the Central and coastal portions of San Diego, whereas I have read about declining rents in more outlying areas.Participant[quote=sdnerd]Also noticed the same thing in my complex. Rents have increased ~$100/mo and they get snatched up fast.
I was surprised when I first noticed the trend; not at all what I was expecting.
[/quote]
sdnerd – What part of San Diego ?
I am wondering whether these anecdotes are in the Central and coastal portions of San Diego, whereas I have read about declining rents in more outlying areas.Participant[quote=sdnerd]Also noticed the same thing in my complex. Rents have increased ~$100/mo and they get snatched up fast.
I was surprised when I first noticed the trend; not at all what I was expecting.
[/quote]
sdnerd – What part of San Diego ?
I am wondering whether these anecdotes are in the Central and coastal portions of San Diego, whereas I have read about declining rents in more outlying areas.Participant[quote=sdnerd]Also noticed the same thing in my complex. Rents have increased ~$100/mo and they get snatched up fast.
I was surprised when I first noticed the trend; not at all what I was expecting.
[/quote]
sdnerd – What part of San Diego ?
I am wondering whether these anecdotes are in the Central and coastal portions of San Diego, whereas I have read about declining rents in more outlying areas.Participant[quote=sdnerd]Also noticed the same thing in my complex. Rents have increased ~$100/mo and they get snatched up fast.
I was surprised when I first noticed the trend; not at all what I was expecting.
[/quote]
sdnerd – What part of San Diego ?
I am wondering whether these anecdotes are in the Central and coastal portions of San Diego, whereas I have read about declining rents in more outlying areas.ParticipantWell, this seems unusual, but perhaps your rent has been below market. Or the landlord is hoping you don’t quesiotn and just cough it up.
Might be able to better help you if you give more info, such as …
What type of unit (condo, SFR,apartment) ?
How many bedrooms, baths ?
If condo or apartment, how many units in building ?
On-site property management ?
What part of town ?
Amenities included ?
Condition of property and common areas, such as pools, etc ?ParticipantWell, this seems unusual, but perhaps your rent has been below market. Or the landlord is hoping you don’t quesiotn and just cough it up.
Might be able to better help you if you give more info, such as …
What type of unit (condo, SFR,apartment) ?
How many bedrooms, baths ?
If condo or apartment, how many units in building ?
On-site property management ?
What part of town ?
Amenities included ?
Condition of property and common areas, such as pools, etc ?ParticipantWell, this seems unusual, but perhaps your rent has been below market. Or the landlord is hoping you don’t quesiotn and just cough it up.
Might be able to better help you if you give more info, such as …
What type of unit (condo, SFR,apartment) ?
How many bedrooms, baths ?
If condo or apartment, how many units in building ?
On-site property management ?
What part of town ?
Amenities included ?
Condition of property and common areas, such as pools, etc ? -
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