Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum ยป Us housing market getting wrecked mortgagecels on ropewatch
  1. Results 61 to 90 of 102
  2. Page 3 of 4
  3. First
  5. 1
  6. 2
  7. 3
  8. 4
  10. Last

Thread: Us housing market getting wrecked mortgagecels on ropewatch

post 1669393483 10-12-2022, 11:43 PM
-
#61
  1. LinuxJon
  1. LinuxJon
  3. Join Date: Apr 2014
  4. Location: California, United States
  5. Posts: 49,073
  6. Rep Power: 325966
Originally Posted By kengriffeyjr24⏩
not the vast majority of people (otherwise they wouldnt be bragging about the rate they locked in).

why are prices dropping right now if rates are increasing?
We have the assets to pay off the mortgage on our current house. But why would I? Where am I ever going to get a 3% interest loan again? At the moment, I could get 3% in a fkkn savings account with zero risk and complete liquidity.
480s / 370b / 495d / 235 x 2 SOHP

Trump 2020
DeSantis 2024
Catbrah 2032

Misc Firearms Crew
Misc Wristwatch Crew
Will sell wife's foot pics for watch/gun money crew
Definitely not a fed crew
post 1669393503 10-12-2022, 11:44 PM
-
#62
  1. kengriffeyjr24
  2. Registered User
  1. kengriffeyjr24
  2. Registered User
  3. Join Date: Aug 2022
  4. Age: 56
  5. Posts: 7,859
  6. Rep Power: 55317
Originally Posted By Anachron⏩
Just fukin LOL @ rentcel cope.
Imagine bragging at owning a 450k home.

Can't wait to keep renting and buy your home for cash at 350k as the market continues to dive.

Imagine the stress looking at your zestimate showing below what you paid.

post 1669393623 10-12-2022, 11:51 PM
-
#63
  1. r32gojirra
  2. Registered NEET
  1. r32gojirra
  2. Registered NEET
  3. Join Date: Feb 2013
  4. Location: East Coast, Australia
  5. Posts: 39,503
  6. Subscribers: 6
  7. Rep Power: 593683
Originally Posted By kengriffeyjr24⏩
not the vast majority of people (otherwise they wouldnt be bragging about the rate they locked in).

why are prices dropping right now if rates are increasing?
FYI In the long run it averages roughly a third each of rentcucks, mortgagecels and owners

So in fact none of these are the โ€œvast majorityโ€
post 1669394143 10-13-2022, 12:20 AM
-
#64
  1. DustinTheHuss
  2. Banned
  1. DustinTheHuss
  2. Banned
  3. Join Date: May 2019
  4. Posts: 27,697
  5. Rep Power: 0
Owning a home is one of the best investments you can make, unless your home got wrecked by the hurricane.
post 1669394463 10-13-2022, 12:40 AM
-
#65
  1. fishnbrah
  2. Registered User
  1. fishnbrah
  2. Registered User
  3. Join Date: Apr 2011
  4. Location: Arizona, United States
  5. Posts: 47,820
  6. Rep Power: 241736
Originally Posted By pondus_levo⏩
do you not realize mortgage cells have low APR and pay less than you do on rent?

Just lol if you missed the boat. Now you'll NEVER be able to own a house.

You are paying a mortgage. It's just not yours.
brutal mogging.
post 1669397133 10-13-2022, 04:30 AM
-
#66
  1. AncientYouth
  2. Registered User
  1. AncientYouth
  2. Registered User
  3. Join Date: Jul 2013
  4. Location: United Kingdom (Great Britain)
  5. Age: 62
  6. Posts: 22,213
  7. Rep Power: 65479
Hmm Mortgage , i dimly remember having one..........................paid it off years go


hope the housing market tanks and i'll buy another property on the cheap
post 1669398143 10-13-2022, 05:22 AM
-
#67
  1. naich
  1. naich
  3. Join Date: Nov 2011
  4. Posts: 17,217
  5. Subscribers: 3
  6. Rep Power: 128871
On the misc everyone bought in 2009 and then refinanced in 2020 with their perfect credit score and now pay pennies for a mortgage. Just like everyone has a 2000lb raw total and is 6'4. Same 10 people masturbating to each other in these threads. Rooting for a massive collapse just to shake up these threads a little, landlords gettings a little too cocky.
**Florida Crew**
**Waiting for National Guard Bus Ride to Labor Camp Crew**
post 1669398203 10-13-2022, 05:26 AM
-
#68
  1. DesiredUserphag
  2. 1:12TilTheDayIFukinDie
  1. DesiredUserphag
  2. 1:12TilTheDayIFukinDie
  3. Join Date: Sep 2014
  4. Posts: 40,176
  5. Rep Power: 397140
Saving for a house on some land in Alaska SRS
๐—ฃ๐—จ๐—ฅ๐—˜๐—•๐—Ÿ๐—ข๐—ข๐——
ฯ‰ฯƒัโ„“โˆ‚ ั‚ัฮฑฮฝั”โ„“ั”ั ศผัั”ฯ‰ โ‚…โ‚€/โ‚โ‚‰โ‚…
๐•ฌ๐–Š๐–˜๐–™๐–๐–Š๐–™๐–Ž๐–ˆ๐–†๐–‘๐–‘๐–ž ๐•ฎ๐–š๐–™ ๐•ธ๐–†๐–˜๐–™๐–Š๐–— ๐•ฝ๐–†๐–ˆ๐–Š ยฎ
แ—ชIแ”•แ‘•แ–‡Iแ—ฐIแ‘Žแ—ฉTIOแ‘Ž Eแ™ญแ‘•แ’ชแ‘Œแ”•IOแ‘Ž Iแ‘Žแ—ชOแ‘•Tแ–‡Iแ‘Žแ—ฉTIOแ‘Ž
post 1669398293 10-13-2022, 05:30 AM
-
#69
  1. CCCultistKilla
  2. Banned
  1. CCCultistKilla
  2. Banned
  3. Join Date: Sep 2022
  4. Posts: 322
  5. Rep Power: 0
Home prices have to fall to equalize out the rise in rates. I've been looking at vacation places and a $600k place at 6.5% is around $900 more a month than a $600k place at 3.5%. That increase pushes many people out of the market and lowers the demand for properties. Prices will come down just due to supply and demand.

We've already seen prices begin to come down, just not enough. Be patient boyos.
post 1669399033 10-13-2022, 05:55 AM
-
#70
  1. FastBack6
  2. Registered User
  1. FastBack6
  2. Registered User
  3. Join Date: Aug 2015
  4. Age: 34
  5. Posts: 3,946
  6. Rep Power: 11960
Originally Posted By mp83⏩
Lol if you are renting an apartment, you're not paying near what a mortgage is. Mortgage would be 2x at a minimum. I'd pay more in interest than my whole rent is
Yea Iโ€™ll buy a house eventually but it makes no sense right now. My rent is only $900 in a nice little town, no crime, have private parking and all that stuff. You couldnโ€™t buy a house in the ghetto of the big city near me for 900 a month unless you put 100K down or something. Mortgages make people poor too, you donโ€™t own your house unless you paid for it in cash, the bank does
post 1669399113 10-13-2022, 05:58 AM
-
#71
  1. FastBack6
  2. Registered User
  1. FastBack6
  2. Registered User
  3. Join Date: Aug 2015
  4. Age: 34
  5. Posts: 3,946
  6. Rep Power: 11960
Originally Posted By kengriffeyjr24⏩
what will all your people "locked in" at 2-3% rates do when you get laid off? you realize the fed is actively TRYING to increase unemployment?

or your company transfers you to another location, or you get divorced(50% of marriages), or you need to upgrade because your kids are getting bigger, or you get laid off and quickly find another job that pays less to hold over and the old mortgage payment is too much (this happened a lot in 2008 btw).

or your stocks/investments continue to get hammered and you get margin called (Jamie Dimon said this week he is predicting another 25% drop)

or you are one of the millions of aging boomers with declining 401ks who need to downsize

or you bought a "investment property" and are renting it out, only to no longer be able to find tenants because unemployment is up and there are less people willing to rent in your area. are you prepared to pay that mortgage payment as well? or do you NEED TO SELL.


prices WILL drop. they already are. hope you are ready to be underwater in a home.
Everyone who bought a house in the last 3 years is underwater as soon as they sign the paperwork basically. Thereโ€™s no equity in it when you pay 50K over asking lmao. ****ing idiots.
post 1669399183 10-13-2022, 06:01 AM
-
#72
  1. FastBack6
  2. Registered User
  1. FastBack6
  2. Registered User
  3. Join Date: Aug 2015
  4. Age: 34
  5. Posts: 3,946
  6. Rep Power: 11960
Originally Posted By r32gojirra⏩
Says more about your poverty mindset that it never occurred to you that people own properties without having a loan against it
The vast majority of property/houses in the US are on a loan. Most people donโ€™t have half a million in cash to just drop on a house when they feel like it.
post 1669399213 10-13-2022, 06:01 AM
-
#73
  1. WoofieNugget
  1. WoofieNugget
  3. Join Date: Jun 2010
  4. Age: 51
  5. Posts: 24,108
  6. Rep Power: 109783
Originally Posted By naich⏩
On the misc everyone bought in 2009 and then refinanced in 2020 with their perfect credit score and now pay pennies for a mortgage. Just like everyone has a 2000lb raw total and is 6'4. Same 10 people masturbating to each other in these threads. Rooting for a massive collapse just to shake up these threads a little, landlords gettings a little too cocky.
This is basically the truth. There's zero people on this board who are actually landlords.

There won't be a massive collapse, it simply can't happen. Prices will drop as they already have, but they went up so much over the past three years that even people who drop 20% are still positive profit over time. It will just even out to the typical 6-10% a year like it usually has been within another three years or so.

I chose to rent so I could get a bigger place for my kids and my business, yard for my dog and buying in my city is FAR more expensive than renting so it makes zero financial sense.
post 1669399443 10-13-2022, 06:10 AM
-
#74
  1. OffwhiteBrah
  1. OffwhiteBrah
  3. Join Date: Apr 2015
  4. Location: Florida, United States
  5. Posts: 50,218
  6. Rep Power: 545472
Friendly reminder: The holidays are coming up, please increase your tip to 60% to show your appreciation
post 1669399893 10-13-2022, 06:26 AM
-
#75
  1. WoofieNugget
  1. WoofieNugget
  3. Join Date: Jun 2010
  4. Age: 51
  5. Posts: 24,108
  6. Rep Power: 109783
Originally Posted By FastBack6⏩
Everyone who bought a house in the last 3 years is underwater as soon as they sign the paperwork basically. Thereโ€™s no equity in it when you pay 50K over asking lmao. ****ing idiots.
Some people where I am paid 150k or more over asking just to get a house in 2020 and 2021. They are the same stupid people who took on a variable mortgage and are now screwed financially for years as a result. I know people who's payments went up by $1000 a month and it's ALL interest, no equity at all for likely a couple of years.
post 1669400163 10-13-2022, 06:31 AM
-
#76
  1. kengriffeyjr24
  2. Registered User
  1. kengriffeyjr24
  2. Registered User
  3. Join Date: Aug 2022
  4. Age: 56
  5. Posts: 7,859
  6. Rep Power: 55317
Mortgage cells, please update us all on what year you actually own your home? 2050?

How much interest does the bank get from you over that time?

Anyways, better pay that mortgage this month otherwise Mr shekelstein at the bank will repossess all your assets.
post 1669400293 10-13-2022, 06:35 AM
-
#77
  1. northernlights7
  2. Banned
  1. northernlights7
  2. Banned
  3. Join Date: Jun 2013
  4. Posts: 24,527
  5. Rep Power: 24
I have 14 years left on a 2.75% fixed interest rate mortgage from a house I bought in the mid-2010's.

Every rentcel I know went from "waiting for prices to go down" from 2019 - 2021 to "still waiting for prices to go down more, but also waiting for intereste rates to go back down".


These retards keep yapping about "timing the market", and they haven't had a fkn thing to show for it in a decade lol.
post 1669400533 10-13-2022, 06:40 AM
-
#78
  1. lockdev
  1. lockdev
  3. Join Date: Nov 2012
  4. Posts: 15,303
  5. Rep Power: 135360
Redfin and Zillow both say my house is up ~1% in the past 30 days. Am I doing it wrong OP?

Misc Entrepreneur Crew
post 1669401083 10-13-2022, 06:54 AM
-
#79
  1. KINGFABIAN
  2. SHOTS FIRED!
  1. KINGFABIAN
  2. SHOTS FIRED!
  3. Join Date: Mar 2004
  4. Location: Florida
  5. Posts: 8,402
  6. Rep Power: 68808
More proof that rent cells are jelly of homeowners. Another one of these threads where the rent cucks only claim to superiority is โ€œbeing able to move in a hurryโ€ or โ€œinvest all their wealth in an unreliable stock market โ€œ any excuse to make themselves feel good about throwing their monthly rent away to pay someone elseโ€™s mortgage. Have fun fighting over a parking space in your $hitty cramped up apartment, condo, townhouse exc
Don't push me 'cause I'm close to the edge
I'm trying not to lose my head
It's like a jungle sometimes
It makes me wonder how I keep from goin' underโ€ฆ~ (Melvin Glover, better known by his stage name Melle Mel and Grandmaster Melle Mel, is an American hip hop recording artist who was the lead vocalist and songwriter of Grandmaster Flash and the Furious Five.)

Early AM workout crew.
post 1669401183 10-13-2022, 06:56 AM
-
#80
  1. donblaximus
  2. Registered User
  1. donblaximus
  2. Registered User
  3. Join Date: Jul 2010
  4. Age: 50
  5. Posts: 12,396
  6. Rep Power: 70954
Originally Posted By kengriffeyjr24⏩
actually rent is dropping nationwide
when im done with this rental, I can walk away, and my landlord is left holding the bag (hope he didnt buy at the peak and/or can find tenants...)

when mortgagecells need to change homes due to life changes (or they need a larger place), they have to pay 40k in closing costs and fees and hope they arent buried by a crashing house market

meanwhile, instead of locking up a down payment in a currently depreciating asset, I can drop hundreds of thousands in bonds and earn risk free returns while I continue to save up enough so I dont need a mortgage period.


forbes.com/sites/brendarichardson/2022/09/26/rents-drop-for-the-first-time-in-nearly-two-years-as-the-housing-market-cools/?sh=17f9da85ed61

cnbc.com/2022/09/18/us-cities-where-rent-prices-decreased-the-most-in-august.html
Damn bro! HUNDREDS of THOUSANDS??? Take it easy there killer.
post 1669401233 10-13-2022, 06:58 AM
-
#81
  1. MrSchons
  2. Welsh Brah
  1. MrSchons
  2. Welsh Brah
  3. Join Date: Dec 2015
  4. Location: Wales, United Kingdom (Great Britain)
  5. Posts: 13,274
  6. Rep Power: 141586
Damn still two weeks to go until rents due and the rentcel cope is going off the charts already

LMAO at rentcels
post 1669409813 10-13-2022, 09:46 AM
-
#82
  1. FlexLex
  2. Registered User
  1. FlexLex
  2. Registered User
  3. Join Date: Apr 2010
  4. Location: New Jersey, United States
  5. Age: 35
  6. Posts: 12,399
  7. Rep Power: 38867
The level of personal investment that people have on either side is tribally concerning.
If one way or the other was immensely more lucrative the market itself would correct prices until they werent. Point is, theres probably a fairly even trade off with return and monetary sense in both directions.

Home owners get vested in the property but also incur expenses, interest, repairs, depreciation, realtor fees, taxes
These prices are somewhat built into the rental market as a whole, but typically a renter has value in terms of liquidity, and likely can afford to live in a smaller but nicer place.

You have have 3 bed home however the renter can afford a 1-2 bedroom apartment but likely much nicer in terms of updates and amenities than a similar monthly cost house.

I own a good chunk of my home and have a locked in low rate, dont care to get swayed too far into my own bias. Theres an argument for both.
Phila crew
Healthcare Crew
post 1669410113 10-13-2022, 09:52 AM
-
#83
  1. FAPhaggot
  2. Hawaiian shirt hoarder
  1. FAPhaggot
  2. Hawaiian shirt hoarder
  3. Join Date: Nov 2015
  4. Posts: 24,226
  5. Rep Power: 185354
Originally Posted By lockdev⏩
Redfin and Zillow both say my house is up ~1% in the past 30 days. Am I doing it wrong OP?

Redfin and Zillow both took baths flipping based on Zestimates last year. Wouldn't take that number very srsly, especially given how wild bond and interest rates are moving.
FA Crew
Always Pick 1 Crew

"Experience is something you get right after you need it."
post 1669410133 10-13-2022, 09:53 AM
-
#84
  1. northernlights7
  2. Banned
  1. northernlights7
  2. Banned
  3. Join Date: Jun 2013
  4. Posts: 24,527
  5. Rep Power: 24
Originally Posted By kengriffeyjr24⏩
Current predictions:

Morgan Stanley: Home prices will fall 7%

Goldman Sachs: Home prices poised to fall 5% to 10%

Moodyโ€™s Analytics: Home prices will fall 5% to 10% โ€” more if recession hits

Wells Fargo: Home prices will fall over 5%

โ€˜Poisonโ€™ Ivy Zelman: Home prices will fall 4% in 2023 and another 5% in 2024

Capital Economics: Home prices will fall 8%
Don't care. My house, based on lowest current selling prices of the neighborhood and immediate surrounding area, could drop by 40% value tomorrow, and I'd still be in better shape than back when I was a rentcel.
post 1669410423 10-13-2022, 09:56 AM
-
#85
  1. OliverHeldens
  1. OliverHeldens
  3. Join Date: Oct 2014
  4. Age: 33
  5. Posts: 43,058
  6. Subscribers: 1
  7. Rep Power: 130987
Originally Posted By lockdev⏩
Redfin and Zillow both say my house is up ~1% in the past 30 days. Am I doing it wrong OP?

Lol, there's literally no part of the US where this is accurate. Even Miami is seeing prices drop now lol.
post 1669411013 10-13-2022, 10:05 AM
-
#86
  1. naich
  1. naich
  3. Join Date: Nov 2011
  4. Posts: 17,217
  5. Subscribers: 3
  6. Rep Power: 128871
Originally Posted By WoofieNugget⏩
This is basically the truth. There's zero people on this board who are actually landlords.

There won't be a massive collapse, it simply can't happen. Prices will drop as they already have, but they went up so much over the past three years that even people who drop 20% are still positive profit over time. It will just even out to the typical 6-10% a year like it usually has been within another three years or so.

I chose to rent so I could get a bigger place for my kids and my business, yard for my dog and buying in my city is FAR more expensive than renting so it makes zero financial sense.
Fed hikes rates--->unemployement goes up--->jobs get lost--->Over priced mortgage from last 3 years due--->forclosures--->50% drop is possible

Sure ARM's arent as popular as 2008, but LMAO if you think we corrected any of the underlying finacial issues that caused 2008 in the first place. Round 2 right around the corner.

And plenty of people on this board are landlords, I know many IRL too. What the people on this board dont tell you is that they had to front the mortage for 2 months last year because tenants ran away. Or they had to stop what they were doing at work multiple times to get a contractor over there to fix AC/paint/mold blah blah. Or that they spent a whole weekend cleaning up after their tenants that left a pig pen behind. Every single landlord I know IRL has constant complaints about renters and how its all roses on paper, but after several years they just want to sell and be done with it. Must take a certain personality or real love of wood and bricks to put up with it all. Passive income can be found through other methods.

Misc is full of E-stats, its just not possible that everyone is a 1%'er at everything they persue in life. Dont let the gloating in these threads blind you to the realities of landlording.

That being said...cant wait to buy a home and charge someone to live in it lol.
**Florida Crew**
**Waiting for National Guard Bus Ride to Labor Camp Crew**
post 1669411083 10-13-2022, 10:06 AM
-
#87
  1. GolfBrah68
  2. Registered User
  1. GolfBrah68
  2. Registered User
  3. Join Date: Jun 2015
  4. Posts: 76
  5. Rep Power: 614
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
post 1669411323 10-13-2022, 10:10 AM
-
#88
  1. kengriffeyjr24
  2. Registered User
  1. kengriffeyjr24
  2. Registered User
  3. Join Date: Aug 2022
  4. Age: 56
  5. Posts: 7,859
  6. Rep Power: 55317
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
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.
post 1669412073 10-13-2022, 10:24 AM
-
#89
  1. Hussar1
  2. Registered User
  1. Hussar1
  2. Registered User
  3. Join Date: May 2013
  4. Age: 50
  5. Posts: 3,826
  6. Rep Power: 10167
Originally Posted By pondus_levo⏩
My mortgage is $1650/month and I have a 4br/3bath in 1/2 acre.

.
1) Lol'ing at you paying a mortgage.
2)Lol'ing at you paying $1650 a month for a McMansion on 1/2 an acre, and thinking that's GOAT.
3)You will 100% lose your shirt in the next bubble.
4)You thinking 1/2 an acre is GOAT. Lol..lol.

50 acres, owed outright krew.
Pole barn, bachelor pad barndo krew.
Property is surrounded by state forest on 3 sides krew.
All paid for.

You're WORSE than the rentcels, and you don't even know it.
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 1669412923 10-13-2022, 10:35 AM
-
#90
  1. Kev1972
  2. Registered User
  1. Kev1972
  2. Registered User
  3. Join Date: Jun 2013
  4. Location: Big Arm, Montana, United States
  5. Posts: 49,924
  6. Rep Power: 287644
Originally Posted By northernlights7⏩
Don't care. My house, based on lowest current selling prices of the neighborhood and immediate surrounding area, could drop by 40% value tomorrow, and I'd still be in better shape than back when I was a rentcel.
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!
Motorcycle crew
Army veteran crew
One Meal a day crew
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts