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NeetaTParticipant
Actually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
NeetaTParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
NeetaTParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
NeetaTParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
NeetaTParticipantActually, I mean from today’s median price. OK, I know this is over simplified, but here goes. I found out that the median household income is approximately $52,000.00 per year after taxes. After taking monthly expenses into consideration, a husband and wife would have at most $2,000.00 left over to pay a fixed mortgage. So with that in mind, the most they would be able to mortgage is $335,000.00 at 6.0% fixed rate which is 43% less than the median priced home in San Diego. I know my math is arbitrary, but it is the best I can do. I gave it a shot. I’m just reaching for any explanation to a perplexing situation that frankly drives me nuts.
NeetaTParticipantThe good thing about MONEX is you receive as of the current rate 5% interest on your money if it sits in the account while you wait to buy the gold. The bad news is the spread between the bid and ask price can be rather large at times plus the commission if you trade often. I think you’re OK if you hold it for the long haul which should more than makeup for the carrying costs. Closing the gap on the spot price is difficult due to the greed involved with brokerages.
NeetaTParticipantThe good thing about MONEX is you receive as of the current rate 5% interest on your money if it sits in the account while you wait to buy the gold. The bad news is the spread between the bid and ask price can be rather large at times plus the commission if you trade often. I think you’re OK if you hold it for the long haul which should more than makeup for the carrying costs. Closing the gap on the spot price is difficult due to the greed involved with brokerages.
NeetaTParticipantThe good thing about MONEX is you receive as of the current rate 5% interest on your money if it sits in the account while you wait to buy the gold. The bad news is the spread between the bid and ask price can be rather large at times plus the commission if you trade often. I think you’re OK if you hold it for the long haul which should more than makeup for the carrying costs. Closing the gap on the spot price is difficult due to the greed involved with brokerages.
NeetaTParticipantThe good thing about MONEX is you receive as of the current rate 5% interest on your money if it sits in the account while you wait to buy the gold. The bad news is the spread between the bid and ask price can be rather large at times plus the commission if you trade often. I think you’re OK if you hold it for the long haul which should more than makeup for the carrying costs. Closing the gap on the spot price is difficult due to the greed involved with brokerages.
NeetaTParticipantThe good thing about MONEX is you receive as of the current rate 5% interest on your money if it sits in the account while you wait to buy the gold. The bad news is the spread between the bid and ask price can be rather large at times plus the commission if you trade often. I think you’re OK if you hold it for the long haul which should more than makeup for the carrying costs. Closing the gap on the spot price is difficult due to the greed involved with brokerages.
NeetaTParticipantdavelj,
What you have stated sounds logical and I believe it. As long as someone is holding a fortified asset, why not loan money to them? I think most banks would. The problem cannot be linked to anything else but bad or depreciating assets. I think the rule should be that banks loan at the maximum, 70% of the true appraisal and only at a fixed rate. I don’t borrow money, so I don’t know much about it. I’m just letting common sense guide me.
NeetaTParticipantdavelj,
What you have stated sounds logical and I believe it. As long as someone is holding a fortified asset, why not loan money to them? I think most banks would. The problem cannot be linked to anything else but bad or depreciating assets. I think the rule should be that banks loan at the maximum, 70% of the true appraisal and only at a fixed rate. I don’t borrow money, so I don’t know much about it. I’m just letting common sense guide me.
NeetaTParticipantdavelj,
What you have stated sounds logical and I believe it. As long as someone is holding a fortified asset, why not loan money to them? I think most banks would. The problem cannot be linked to anything else but bad or depreciating assets. I think the rule should be that banks loan at the maximum, 70% of the true appraisal and only at a fixed rate. I don’t borrow money, so I don’t know much about it. I’m just letting common sense guide me.
NeetaTParticipantdavelj,
What you have stated sounds logical and I believe it. As long as someone is holding a fortified asset, why not loan money to them? I think most banks would. The problem cannot be linked to anything else but bad or depreciating assets. I think the rule should be that banks loan at the maximum, 70% of the true appraisal and only at a fixed rate. I don’t borrow money, so I don’t know much about it. I’m just letting common sense guide me.
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