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Forum ยป Us housing market getting wrecked mortgagecels on ropewatch
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Thread: Us housing market getting wrecked mortgagecels on ropewatch

post 1669413623 10-13-2022, 10:45 AM
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#91
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Originally Posted By Kev1972⏩
Interest rates will never come down again. Rentcels are screwed.

At least mortgagechads will be able to trade in tons of equity to buy a much cheaper house since the bigger the house the more money it will lose. Someone selling a 400k house to move into an 800k house will make out pretty good. If prices drop 10% yes he's losing 40k, but he's getting the 800k house for 80k less. And since the way mortgage rates work is exponential, that 800k house will likely fall a bigger percentage point than the 400k house will since the financing is so much higher.

But the financing won't be bad at all once you put down 360k in equity plus 100k or so cash. BRB trading a 400k house for an 800k house but only financing 200k. Or less! Even with higher rates you just cut your old house payment in half.

Meanwhile a rentcel better hope that vanguard fund they've been investing the difference in turns around quick!
Lol...I knew active duty dudes like you who thought the same thing in Vegas back in 2008.

Lost their fukkin shirt.

Oh, just bought a nice condo for 250. In 06. 08? Lucky to get 150.
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
Friedrich Nietzsche
post 1669413983 10-13-2022, 10:51 AM
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#92
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Originally Posted By GolfBrah68⏩
Alot has to be location dependent. Bought my house 2 years ago for 387k and it worth 475-500 right now. Idc if it drops 8% off that number. Mortgage rate is 3%, have a **** ton of equity and paying next to nothing on a monthly payment. To rent a house like mine would be 3k a month around my area and I pay less than half that in a mortgage payment. Always laugh when I see these threads pop up
Are you sure it would sell for $475 now?!? At 7.5% interest? The payment for someone buying your house today would be $900 more per month on your loan amount. If someone paid $475k for your house today, the Principal & Interest payment would be $3000 per month, so with Taxes and Insurance it's likely $3500+.

FYI: Your house isn't worth $475k right now. If you put it onto market, you'd be lucky to get above what you paid.
post 1669414343 10-13-2022, 10:57 AM
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#93
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Originally Posted By OliverHeldens⏩
Are you sure it would sell for $475 now?!? At 7.5% interest? The payment for someone buying your house today would be $900 more per month on your loan amount. If someone paid $475k for your house today, the Principal & Interest payment would be $3000 per month, so with Taxes and Insurance it's likely $3500+.

FYI: Your house isn't worth $475k right now. If you put it onto market, you'd be lucky to get above what you paid.
Based.

Mortgagecels do their "research" on Zillow, and/or ehat their local sloot RE agent tells them.

Neither deals in reality.
The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. But no price is too high to pay for the privilege of owning yourself.
Friedrich Nietzsche
post 1669421783 10-13-2022, 12:50 PM
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#94
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Originally Posted By OliverHeldens⏩
Are you sure it would sell for $475 now?!? At 7.5% interest? The payment for someone buying your house today would be $900 more per month on your loan amount. If someone paid $475k for your house today, the Principal & Interest payment would be $3000 per month, so with Taxes and Insurance it's likely $3500+.

FYI: Your house isn't worth $475k right now. If you put it onto market, you'd be lucky to get above what you paid.
Hasnt slown down in our area THAT much. Its definitely slowed but for what my house is compared to what others are being listed for, Id have no issue selling for that. I also paid under market value at the time too as I got it off market and cut a deal. It appraised for like 30k above asking at that time
post 1669421863 10-13-2022, 12:51 PM
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#95
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Originally Posted By kengriffeyjr24⏩
It's only worth what someone pays you.

You might have issues selling it boyo when rates hit 10% next year.

Better keep that job.
No plans to sell. Cant rent anything even close to this to my mortgage. Cope harder
post 1669421913 10-13-2022, 12:52 PM
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#96
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I love how rentcels don't think they are paying for mortgages lol.
post 1669434463 10-13-2022, 04:28 PM
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#97
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Originally Posted By SoulBlazer470⏩
Rentcels are modern day serfs. How is feudalism treating you peasants?
If you pay over 25 percent income taxes to the government then you are also a modern day serf because that's how much they had to pay..

Also, banks are tied in with government since the latter suppress interest rates thus causing home prices to rise..that 3 percent interest rate locked in wont look too great if home prices drop more than that and you lose your job and have to move....either way your cucked.
post 1669450303 10-14-2022, 01:00 AM
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#98
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Originally Posted By OliverHeldens⏩
Are you sure it would sell for $475 now?!? At 7.5% interest? The payment for someone buying your house today would be $900 more per month on your loan amount. If someone paid $475k for your house today, the Principal & Interest payment would be $3000 per month, so with Taxes and Insurance it's likely $3500+.

FYI: Your house isn't worth $475k right now. If you put it onto market, you'd be lucky to get above what you paid.
He'd be in for a hell of a rude awakening if he listed for $475K tomorrow.
Your schtick sucks and it screams insecurity.
post 1669466173 10-14-2022, 09:43 AM
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Originally Posted By digital022⏩
He'd be in for a hell of a rude awakening if he listed for $475K tomorrow.
Lol just looked at just sold listings in my area. Few recent ones sold for 425k and 450k for 2251 sq ft and 2521 sq ft. My main level is 2600 sq ft with a 2000 sq ft finished basement with a movie theater system as good as you would find at the movies. Id get over 475k looking at that. Thanks for having me check. Enjoy paying your rent
post 1669466303 10-14-2022, 09:46 AM
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#100
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lol just LMAO at homecels thinking they own the house. The bank do just LMAO

I can stop paying rent tomorrow and the bank is going to absolutely cuck you and bankrupt you LMAOOOOOOOOOOOOOOO
post 1669466583 10-14-2022, 09:50 AM
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#101
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https://www.reddit.com/r/FirstTimeHo...u_emotionally/

"I bought this year at the height of the craze. The same house close to me just listed for 100k less than what I paid. I feel nauseas. Like I royally ****ed up.

Anyone one going through something similar?"

its OVER
post 1669466823 10-14-2022, 09:54 AM
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#102
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Originally Posted By kengriffeyjr24⏩
https://www.reddit.com/r/FirstTimeHo...u_emotionally/

"I bought this year at the height of the craze. The same house close to me just listed for 100k less than what I paid. I feel nauseas. Like I royally ****ed up.

Anyone one going through something similar?"

its OVER
lol just LMAOOOOOOOOOOOOOOOOOO






















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