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SD Realtor
ParticipantI have seen the same thing sdr. In fact I am in that same conversation right now with USAA and with Wells Fargo Home Equity on two seperate listings as they are the second lien holder for each of them.
ParticipantI have seen the same thing sdr. In fact I am in that same conversation right now with USAA and with Wells Fargo Home Equity on two seperate listings as they are the second lien holder for each of them.
ParticipantI have seen the same thing sdr. In fact I am in that same conversation right now with USAA and with Wells Fargo Home Equity on two seperate listings as they are the second lien holder for each of them.
ParticipantVery good points in this thread all around. I agree with all of them. Even though the effective post tax increase on a higher payment is lower then the pre tax increase, that sticker shock is real and I find buyers adhere to monthly budget that is pre tax based. Most people do not have the discipline to save the tax refund and then spread it out over the mortgage payments for the entire year. Similarly higher rates reduce buying power and qualifications so I do fee that the rate hikes hurt alot even with post tax calculations taken into the calculation.
I do kind of believe we are in a longer term low rate environment IFF (if and ONLY if) our foreign creditors keep extending our bar tab. I believe the treasuries are pretty much the benchmark for alot of lending activities, be it corporates, munis, even mortgages. To me, and I am a simple man, the only thing that fluctuates is the margins on these other vehicles and those margins are basically risk assessments. I can be and probaby am wrong to view things in that simple of a manner. Counselor and Pem are probably correct, as long as the pipe keeps flowing from China it seems like it is a reasonable assessment. When that spigot is shut down though…
Game on.
ParticipantVery good points in this thread all around. I agree with all of them. Even though the effective post tax increase on a higher payment is lower then the pre tax increase, that sticker shock is real and I find buyers adhere to monthly budget that is pre tax based. Most people do not have the discipline to save the tax refund and then spread it out over the mortgage payments for the entire year. Similarly higher rates reduce buying power and qualifications so I do fee that the rate hikes hurt alot even with post tax calculations taken into the calculation.
I do kind of believe we are in a longer term low rate environment IFF (if and ONLY if) our foreign creditors keep extending our bar tab. I believe the treasuries are pretty much the benchmark for alot of lending activities, be it corporates, munis, even mortgages. To me, and I am a simple man, the only thing that fluctuates is the margins on these other vehicles and those margins are basically risk assessments. I can be and probaby am wrong to view things in that simple of a manner. Counselor and Pem are probably correct, as long as the pipe keeps flowing from China it seems like it is a reasonable assessment. When that spigot is shut down though…
Game on.
ParticipantVery good points in this thread all around. I agree with all of them. Even though the effective post tax increase on a higher payment is lower then the pre tax increase, that sticker shock is real and I find buyers adhere to monthly budget that is pre tax based. Most people do not have the discipline to save the tax refund and then spread it out over the mortgage payments for the entire year. Similarly higher rates reduce buying power and qualifications so I do fee that the rate hikes hurt alot even with post tax calculations taken into the calculation.
I do kind of believe we are in a longer term low rate environment IFF (if and ONLY if) our foreign creditors keep extending our bar tab. I believe the treasuries are pretty much the benchmark for alot of lending activities, be it corporates, munis, even mortgages. To me, and I am a simple man, the only thing that fluctuates is the margins on these other vehicles and those margins are basically risk assessments. I can be and probaby am wrong to view things in that simple of a manner. Counselor and Pem are probably correct, as long as the pipe keeps flowing from China it seems like it is a reasonable assessment. When that spigot is shut down though…
Game on.
ParticipantVery good points in this thread all around. I agree with all of them. Even though the effective post tax increase on a higher payment is lower then the pre tax increase, that sticker shock is real and I find buyers adhere to monthly budget that is pre tax based. Most people do not have the discipline to save the tax refund and then spread it out over the mortgage payments for the entire year. Similarly higher rates reduce buying power and qualifications so I do fee that the rate hikes hurt alot even with post tax calculations taken into the calculation.
I do kind of believe we are in a longer term low rate environment IFF (if and ONLY if) our foreign creditors keep extending our bar tab. I believe the treasuries are pretty much the benchmark for alot of lending activities, be it corporates, munis, even mortgages. To me, and I am a simple man, the only thing that fluctuates is the margins on these other vehicles and those margins are basically risk assessments. I can be and probaby am wrong to view things in that simple of a manner. Counselor and Pem are probably correct, as long as the pipe keeps flowing from China it seems like it is a reasonable assessment. When that spigot is shut down though…
Game on.
ParticipantVery good points in this thread all around. I agree with all of them. Even though the effective post tax increase on a higher payment is lower then the pre tax increase, that sticker shock is real and I find buyers adhere to monthly budget that is pre tax based. Most people do not have the discipline to save the tax refund and then spread it out over the mortgage payments for the entire year. Similarly higher rates reduce buying power and qualifications so I do fee that the rate hikes hurt alot even with post tax calculations taken into the calculation.
I do kind of believe we are in a longer term low rate environment IFF (if and ONLY if) our foreign creditors keep extending our bar tab. I believe the treasuries are pretty much the benchmark for alot of lending activities, be it corporates, munis, even mortgages. To me, and I am a simple man, the only thing that fluctuates is the margins on these other vehicles and those margins are basically risk assessments. I can be and probaby am wrong to view things in that simple of a manner. Counselor and Pem are probably correct, as long as the pipe keeps flowing from China it seems like it is a reasonable assessment. When that spigot is shut down though…
Game on.
ParticipantI would have to agree that mortgage rates are the knockout punch. I think that for all the anticipation that we had about unemployment tipping the market over, we have not seen the tsunami that many envisioned. Now as you said, we have 7 or 8% mortgage rates, I do not see many people pulling in 150k a year being able to afford that nice home in LCV or 4S.
At some point, that will happen. That is what will affect things more then anything else.
ParticipantI would have to agree that mortgage rates are the knockout punch. I think that for all the anticipation that we had about unemployment tipping the market over, we have not seen the tsunami that many envisioned. Now as you said, we have 7 or 8% mortgage rates, I do not see many people pulling in 150k a year being able to afford that nice home in LCV or 4S.
At some point, that will happen. That is what will affect things more then anything else.
ParticipantI would have to agree that mortgage rates are the knockout punch. I think that for all the anticipation that we had about unemployment tipping the market over, we have not seen the tsunami that many envisioned. Now as you said, we have 7 or 8% mortgage rates, I do not see many people pulling in 150k a year being able to afford that nice home in LCV or 4S.
At some point, that will happen. That is what will affect things more then anything else.
ParticipantI would have to agree that mortgage rates are the knockout punch. I think that for all the anticipation that we had about unemployment tipping the market over, we have not seen the tsunami that many envisioned. Now as you said, we have 7 or 8% mortgage rates, I do not see many people pulling in 150k a year being able to afford that nice home in LCV or 4S.
At some point, that will happen. That is what will affect things more then anything else.
ParticipantI would have to agree that mortgage rates are the knockout punch. I think that for all the anticipation that we had about unemployment tipping the market over, we have not seen the tsunami that many envisioned. Now as you said, we have 7 or 8% mortgage rates, I do not see many people pulling in 150k a year being able to afford that nice home in LCV or 4S.
At some point, that will happen. That is what will affect things more then anything else.
ParticipantFLU I have to admit that I tend to agree with Eugene. I think that even if a goat were president, economies do cycle and in a few years the natural cycle will turn up again. I hope it is not the case but I really do think it will be that way.
One thing that is somewhat ironic is the president of France seems to have more of a backbone then our president. This is a strange world we live in.
As for the game being rigged?
How can that be news to anyone? The lady in PB who is a default queen… do you guys think she is dumb… or perhaps she is pretty smart. I would assume she knows exactly what she is doing. Also it is quite convenient to blame speculators and people like her for running the market up. However consider that many people who did not speculate but simply bought something they couldn’t afford were just as responsible for pricing you and I out of the market.
We are in an era where people have thrown in the towel and said screw it, government “take care of me”. Get as large as you have to get, tax us as much as you have to, just take care of us. Guys like Barney Frank and his boy Chuckie and Dodd have more power now then they have ever had. The game was rigged in the Bush years and now it is even more rigged. I agree and am angry as well.
The best thing I can propose is to try to figure out a way to make money off it rather then fight it.
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