[HLS]

Alienation of property should be encouraged, not restrained.
***********************
OH YA,,
King, perhaps a matter of semantics, but “alienation” also means insanity.

INSANITY OF PROPERTY is exactly what inflated this bubble by millions of people who had no business getting on the train… (no down, no assets, little income)

It was promoted to them as a gravy train that went on forever, when in reality it was nothing more than a boring commuter train that only went to the end of the line, and then turns around.

It’s going to be a very, very, very long time until it gets back to that station with way, way too many people thinking that it’s going to arrive sooner rather than later.

[HLS]

Alienation of property should be encouraged, not restrained.
***********************
OH YA,,
King, perhaps a matter of semantics, but “alienation” also means insanity.

INSANITY OF PROPERTY is exactly what inflated this bubble by millions of people who had no business getting on the train… (no down, no assets, little income)

It was promoted to them as a gravy train that went on forever, when in reality it was nothing more than a boring commuter train that only went to the end of the line, and then turns around.

It’s going to be a very, very, very long time until it gets back to that station with way, way too many people thinking that it’s going to arrive sooner rather than later.

[HLS]

King,,
I’m not anti investor AT ALL.. “I R ONE” have been for 25 years, and am also in the mortgage biz…gladly helping people who deserve to be helped.

I’m just pointing out that there are two sides. I bought my first property in 1980, with an FHA loan.
I’ve done AITD’s, and owner financing and assumable loans as well as qualifying for full doc and stated income.

I didn’t suggest that anything is wrong with any creative financing.

I’m not deluded one bit about what is happening today.
There are plenty of places in this country that buying rentals makes perfect sense TODAY, not hoping, wishing or praying that the market “recovers” to have the investment make sense.

In the 70’s-80’s you could buy a home for 100x monthly rent (or less) in So Cal, it wasn’t crazy or hard at all. It just wasn’t nearly as popular as it is now..
Buying stocks weren’t popular to the masses then either.

When I was younger, “bread & butter” units were rentals,
2BR maybe 3BR homes or duplexes…
VERY few people ever considered a 4BR or a really nice house as a rental…it would have been considered INSANE.

There’s been a huge shift in thinking, and it’s created a monster, fueled by the govt, because it’s good for the economy(supposedly)

I’ve got a little more skin the game and years of experience than many others, and I’m willing to talk about both sides, the pros AND the cons.

There are just too many people, young and old that only see UP without taking into account any sort of risk..
Most newly created “landlords” haven’t got a clue about tenants rights and what they are up against.

I’d love for everyone to have a home worth a million bucks and no debt, but it just isn’t possible.

The California Gold Rush only lasted a short time and never happened again. The fools rush to buy houses looking for month over month gains falls into the same category.

[HLS]

King,,
I’m not anti investor AT ALL.. “I R ONE” have been for 25 years, and am also in the mortgage biz…gladly helping people who deserve to be helped.

I’m just pointing out that there are two sides. I bought my first property in 1980, with an FHA loan.
I’ve done AITD’s, and owner financing and assumable loans as well as qualifying for full doc and stated income.

I didn’t suggest that anything is wrong with any creative financing.

I’m not deluded one bit about what is happening today.
There are plenty of places in this country that buying rentals makes perfect sense TODAY, not hoping, wishing or praying that the market “recovers” to have the investment make sense.

In the 70’s-80’s you could buy a home for 100x monthly rent (or less) in So Cal, it wasn’t crazy or hard at all. It just wasn’t nearly as popular as it is now..
Buying stocks weren’t popular to the masses then either.

When I was younger, “bread & butter” units were rentals,
2BR maybe 3BR homes or duplexes…
VERY few people ever considered a 4BR or a really nice house as a rental…it would have been considered INSANE.

There’s been a huge shift in thinking, and it’s created a monster, fueled by the govt, because it’s good for the economy(supposedly)

I’ve got a little more skin the game and years of experience than many others, and I’m willing to talk about both sides, the pros AND the cons.

There are just too many people, young and old that only see UP without taking into account any sort of risk..
Most newly created “landlords” haven’t got a clue about tenants rights and what they are up against.

I’d love for everyone to have a home worth a million bucks and no debt, but it just isn’t possible.

The California Gold Rush only lasted a short time and never happened again. The fools rush to buy houses looking for month over month gains falls into the same category.

[HLS]

King,,
I’m not anti investor AT ALL.. “I R ONE” have been for 25 years, and am also in the mortgage biz…gladly helping people who deserve to be helped.

I’m just pointing out that there are two sides. I bought my first property in 1980, with an FHA loan.
I’ve done AITD’s, and owner financing and assumable loans as well as qualifying for full doc and stated income.

I didn’t suggest that anything is wrong with any creative financing.

I’m not deluded one bit about what is happening today.
There are plenty of places in this country that buying rentals makes perfect sense TODAY, not hoping, wishing or praying that the market “recovers” to have the investment make sense.

In the 70’s-80’s you could buy a home for 100x monthly rent (or less) in So Cal, it wasn’t crazy or hard at all. It just wasn’t nearly as popular as it is now..
Buying stocks weren’t popular to the masses then either.

When I was younger, “bread & butter” units were rentals,
2BR maybe 3BR homes or duplexes…
VERY few people ever considered a 4BR or a really nice house as a rental…it would have been considered INSANE.

There’s been a huge shift in thinking, and it’s created a monster, fueled by the govt, because it’s good for the economy(supposedly)

I’ve got a little more skin the game and years of experience than many others, and I’m willing to talk about both sides, the pros AND the cons.

There are just too many people, young and old that only see UP without taking into account any sort of risk..
Most newly created “landlords” haven’t got a clue about tenants rights and what they are up against.

I’d love for everyone to have a home worth a million bucks and no debt, but it just isn’t possible.

The California Gold Rush only lasted a short time and never happened again. The fools rush to buy houses looking for month over month gains falls into the same category.

[HLS]

King,,
I’m not anti investor AT ALL.. “I R ONE” have been for 25 years, and am also in the mortgage biz…gladly helping people who deserve to be helped.

I’m just pointing out that there are two sides. I bought my first property in 1980, with an FHA loan.
I’ve done AITD’s, and owner financing and assumable loans as well as qualifying for full doc and stated income.

I didn’t suggest that anything is wrong with any creative financing.

I’m not deluded one bit about what is happening today.
There are plenty of places in this country that buying rentals makes perfect sense TODAY, not hoping, wishing or praying that the market “recovers” to have the investment make sense.

In the 70’s-80’s you could buy a home for 100x monthly rent (or less) in So Cal, it wasn’t crazy or hard at all. It just wasn’t nearly as popular as it is now..
Buying stocks weren’t popular to the masses then either.

When I was younger, “bread & butter” units were rentals,
2BR maybe 3BR homes or duplexes…
VERY few people ever considered a 4BR or a really nice house as a rental…it would have been considered INSANE.

There’s been a huge shift in thinking, and it’s created a monster, fueled by the govt, because it’s good for the economy(supposedly)

I’ve got a little more skin the game and years of experience than many others, and I’m willing to talk about both sides, the pros AND the cons.

There are just too many people, young and old that only see UP without taking into account any sort of risk..
Most newly created “landlords” haven’t got a clue about tenants rights and what they are up against.

I’d love for everyone to have a home worth a million bucks and no debt, but it just isn’t possible.

The California Gold Rush only lasted a short time and never happened again. The fools rush to buy houses looking for month over month gains falls into the same category.

[HLS]

King,,
I’m not anti investor AT ALL.. “I R ONE” have been for 25 years, and am also in the mortgage biz…gladly helping people who deserve to be helped.

I’m just pointing out that there are two sides. I bought my first property in 1980, with an FHA loan.
I’ve done AITD’s, and owner financing and assumable loans as well as qualifying for full doc and stated income.

I didn’t suggest that anything is wrong with any creative financing.

I’m not deluded one bit about what is happening today.
There are plenty of places in this country that buying rentals makes perfect sense TODAY, not hoping, wishing or praying that the market “recovers” to have the investment make sense.

In the 70’s-80’s you could buy a home for 100x monthly rent (or less) in So Cal, it wasn’t crazy or hard at all. It just wasn’t nearly as popular as it is now..
Buying stocks weren’t popular to the masses then either.

When I was younger, “bread & butter” units were rentals,
2BR maybe 3BR homes or duplexes…
VERY few people ever considered a 4BR or a really nice house as a rental…it would have been considered INSANE.

There’s been a huge shift in thinking, and it’s created a monster, fueled by the govt, because it’s good for the economy(supposedly)

I’ve got a little more skin the game and years of experience than many others, and I’m willing to talk about both sides, the pros AND the cons.

There are just too many people, young and old that only see UP without taking into account any sort of risk..
Most newly created “landlords” haven’t got a clue about tenants rights and what they are up against.

I’d love for everyone to have a home worth a million bucks and no debt, but it just isn’t possible.

The California Gold Rush only lasted a short time and never happened again. The fools rush to buy houses looking for month over month gains falls into the same category.

[HLS]

Welcome to the party..
I hope that you enjoy yourself.

May as well have a lot to drink, either way, the headaches won’t be gone in the morning.

[HLS]

Welcome to the party..
I hope that you enjoy yourself.

May as well have a lot to drink, either way, the headaches won’t be gone in the morning.

[HLS]

Welcome to the party..
I hope that you enjoy yourself.

May as well have a lot to drink, either way, the headaches won’t be gone in the morning.

[HLS]

Welcome to the party..
I hope that you enjoy yourself.

May as well have a lot to drink, either way, the headaches won’t be gone in the morning.

[HLS]

Welcome to the party..
I hope that you enjoy yourself.

May as well have a lot to drink, either way, the headaches won’t be gone in the morning.

[HLS]

Kingside,
What are you suggesting….
That wraparound mortgages and AITD’s become acceptable ?

You are correct in saying that a DOS is not likely to be enforced anyway.
A servicer would have to have an IQ of 2 to call a loan that has payments being made, regardless of who is making them.

This goes so far beyond that. See the YIKES! thread.

One problem today is “investors” seeing houses as a share of stock.

Reality ?
1)Require non-owner occupied loans to require 50% down.
2)Allow one ONE mortgage in a persons name unless they have had it at least 24 months
3)Create a system of “fair” rent control, so a tenant can have a 10-20 year lease and know that they won’t be inflated out of a place to live.
Not attractive to a landlord? Tough, then don’t become one.

Ya, it might sound crazy, but would give a whole lot of stability to people’s sense of security.

Wanna really discourage house investing ?
Raise the capital gains on profits to 50%

Wanna control prices ?
Require 50% down for owner occupied..

Market will correct to affordability real quickly..
This is just as extreme as allowing 100% financing to make houses UNaffordable…

The entire market is nothing more than a ponzi scheme, with the govt as the puppeteer, pulling the strings, except now the responsible taxpayer is involved with an expensive ticket to see the show of all the irresponsible puppets, whether we want to watch it or not.

It’s like watching a train wreck in slow motion, you know what the outcome is going to be, but you can’t help watching the destruction unfold.

[HLS]

Kingside,
What are you suggesting….
That wraparound mortgages and AITD’s become acceptable ?

You are correct in saying that a DOS is not likely to be enforced anyway.
A servicer would have to have an IQ of 2 to call a loan that has payments being made, regardless of who is making them.

This goes so far beyond that. See the YIKES! thread.

One problem today is “investors” seeing houses as a share of stock.

Reality ?
1)Require non-owner occupied loans to require 50% down.
2)Allow one ONE mortgage in a persons name unless they have had it at least 24 months
3)Create a system of “fair” rent control, so a tenant can have a 10-20 year lease and know that they won’t be inflated out of a place to live.
Not attractive to a landlord? Tough, then don’t become one.

Ya, it might sound crazy, but would give a whole lot of stability to people’s sense of security.

Wanna really discourage house investing ?
Raise the capital gains on profits to 50%

Wanna control prices ?
Require 50% down for owner occupied..

Market will correct to affordability real quickly..
This is just as extreme as allowing 100% financing to make houses UNaffordable…

The entire market is nothing more than a ponzi scheme, with the govt as the puppeteer, pulling the strings, except now the responsible taxpayer is involved with an expensive ticket to see the show of all the irresponsible puppets, whether we want to watch it or not.

It’s like watching a train wreck in slow motion, you know what the outcome is going to be, but you can’t help watching the destruction unfold.

[HLS]

Kingside,
What are you suggesting….
That wraparound mortgages and AITD’s become acceptable ?

You are correct in saying that a DOS is not likely to be enforced anyway.
A servicer would have to have an IQ of 2 to call a loan that has payments being made, regardless of who is making them.

This goes so far beyond that. See the YIKES! thread.

One problem today is “investors” seeing houses as a share of stock.

Reality ?
1)Require non-owner occupied loans to require 50% down.
2)Allow one ONE mortgage in a persons name unless they have had it at least 24 months
3)Create a system of “fair” rent control, so a tenant can have a 10-20 year lease and know that they won’t be inflated out of a place to live.
Not attractive to a landlord? Tough, then don’t become one.

Ya, it might sound crazy, but would give a whole lot of stability to people’s sense of security.

Wanna really discourage house investing ?
Raise the capital gains on profits to 50%

Wanna control prices ?
Require 50% down for owner occupied..

Market will correct to affordability real quickly..
This is just as extreme as allowing 100% financing to make houses UNaffordable…

The entire market is nothing more than a ponzi scheme, with the govt as the puppeteer, pulling the strings, except now the responsible taxpayer is involved with an expensive ticket to see the show of all the irresponsible puppets, whether we want to watch it or not.

It’s like watching a train wreck in slow motion, you know what the outcome is going to be, but you can’t help watching the destruction unfold.

[Author]

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