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Mortgage applications fall despite low rates as trade war fears grow

 
Anonymous Coward
User ID: 75867433
United States
09/09/2019 08:22 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


this^.

this bubble will burst and home prices WILL crash again. Why am I so certain? because anything that dramatically climbs crashes back. I was building homes in 07 , property values were skyrocketing and everything felt nuts. I told all my associates and other builders to pull back and stop building 'Spec' homes. (homes that you build and then immediately put up for sale). None of them listened. 3 out of 3 of them had to file bankruptcy in 09.

rent for now. wait for the crash in prices. Then you can buy, if you still have a job. This next one will make 08 look like a sunday picnic. There is no federal parachute to save it. This is the 'everything bubble'.
 Quoting: Anonymous Coward 76869839


Haaaa. Nope . Different world Fed soy boy. The Fed ain't in control any more. Gold back ed currency , Dow will plow another 10k in the coming weeks, Fed will drop another .25 next week and another .50 in December. What a fayg you are. I'm gettin rich!!
 Quoting: Anonymous Coward 76313497


This. Housing wil be worth millions and then trillions. Homeless will skyrocket.
Anonymous Coward
User ID: 76508557
United States
09/09/2019 08:24 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Refi loans exploding. Fact.
 Quoting: Anonymous Coward 76313497


Same as 08.
Shetland Pony Dog

User ID: 77353092
United States
09/09/2019 08:24 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
The US feels like it is committing suicide.
 Quoting: Anonymous Coward 77822895


It basically is.Canada and europe all ready have.See ya on the other side.
Look at the cawk on that dawg
Education is a process,not a result
Anonymous Coward
User ID: 76508557
United States
09/09/2019 08:27 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


this^.

this bubble will burst and home prices WILL crash again. Why am I so certain? because anything that dramatically climbs crashes back. I was building homes in 07 , property values were skyrocketing and everything felt nuts. I told all my associates and other builders to pull back and stop building 'Spec' homes. (homes that you build and then immediately put up for sale). None of them listened. 3 out of 3 of them had to file bankruptcy in 09.

rent for now. wait for the crash in prices. Then you can buy, if you still have a job. This next one will make 08 look like a sunday picnic. There is no federal parachute to save it. This is the 'everything bubble'.
 Quoting: Anonymous Coward 76869839


Haaaa. Nope . Different world Fed soy boy. The Fed ain't in control any more. Gold back ed currency , Dow will plow another 10k in the coming weeks, Fed will drop another .25 next week and another .50 in December. What a fayg you are. I'm gettin rich!!
 Quoting: Anonymous Coward 76313497


This. Housing wil be worth millions and then trillions. Homeless will skyrocket.
 Quoting: Anonymous Coward 75867433


Nope.

What gold backed currency the yen?

Where's the gold from Fort Knox?

No audit no gold

Big crash coming.
Anonymous Coward
User ID: 76888560
United States
09/09/2019 08:28 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


Renting I throwing your money away - millennial
 Quoting: Anonymous Coward 54510475


Owning is throwing your money away if you owe everything on the property, plus you can't move. Best is to make money these days and buy property to be rented...probably not residential or commercial unless it is skyrocketing.
 Quoting: Anonymous Coward 73174030


Renting is the same as owning when you never pay off your debt in either case. You own shit until that debt is paid.
Anonymous Coward
User ID: 77692034
United States
09/09/2019 08:32 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
such bs

markets are near all time high.. cant blame trade for individual companies short comings
Anonymous Coward
User ID: 77676918
United States
09/09/2019 08:36 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


Renting I throwing your money away - millennial
 Quoting: Anonymous Coward 54510475


Owning is throwing your money away if you owe everything on the property, plus you can't move. Best is to make money these days and buy property to be rented...probably not residential or commercial unless it is skyrocketing.
 Quoting: Anonymous Coward 73174030


This can be correct especially if you buy a fixer. Even just minor improvements can bust your bank account. It was tough for me to stick it out for 5 years before I could unload an aging townhome that was in need of more repairs. I made a good profit but suffered for 5 years. Looking back I would have been better off renting. I used credit cardsfor upkeep and repairs, then had to pay that off when I sold the house. Like most young people (it was my first home I owned but I was old when I got it) I was very naive about home ownership. Homes need a LOT of care. If you are not willing ordo not have the funds, living someplace where all that is someone else’s responsibility is so much easier.

Home ownership ain’t all that. Now that I’ve done it, I think it’s an albatross. I will be renting in retirement because I both hate and cannot afford to do property maintenance!
Anonymous Coward
User ID: 77676918
United States
09/09/2019 08:42 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


Renting I throwing your money away - millennial
 Quoting: Anonymous Coward 54510475


Owning is throwing your money away if you owe everything on the property, plus you can't move. Best is to make money these days and buy property to be rented...probably not residential or commercial unless it is skyrocketing.
 Quoting: Anonymous Coward 73174030


This can be correct especially if you buy a fixer. Even just minor improvements can bust your bank account. It was tough for me to stick it out for 5 years before I could unload an aging townhome that was in need of more repairs. I made a good profit but suffered for 5 years. Looking back I would have been better off renting. I used credit cardsfor upkeep and repairs, then had to pay that off when I sold the house. Like most young people (it was my first home I owned but I was old when I got it) I was very naive about home ownership. Homes need a LOT of care. If you are not willing ordo not have the funds, living someplace where all that is someone else’s responsibility is so much easier.

Home ownership ain’t all that. Now that I’ve done it, I think it’s an albatross. I will be renting in retirement because I both hate and cannot afford to do property maintenance!
 Quoting: Anonymous Coward 77676918


If you buy propertyto rent it, then you have the property management responsibility. Let me just say that I disapprove of buying homes toturn them into bnbs. That is ruining neighborhoods and towns and driving prices up by creating less inventory for sale. Do not participate on principle.
Anonymous Coward
User ID: 77846190
United States
09/09/2019 09:10 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


It's insane!!!
darth

User ID: 28178764
United States
09/09/2019 09:11 PM

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Re: Mortgage applications fall despite low rates as trade war fears grow
Bubbles in RE and other markets always go thru the same steps:

1. Prices slowly rising.
2. People keep selling and moving up using more leverage.
3. Many people notice the rising prices. Some go to house-flipping course or see it on TV.
4. Flipping becomes a get rich quick scheme which works....for a while.
5. Mortgage companies and banks lower standards, e.g., fog-a-mirror test, because they also believe that prices will rise forever.
6. Prices go so high that mortgage companies get scared and raise standards.
7. Only a few can qualify to buy at the insane prices and even the wealthy investors get skittish.

Soooo

8. Everybody tries to sell at once. Not enough buyers so they drop the price.
9. Prices dropping. Most home buyers think "wait" for even lower prices.
10. Recession/bankruptcies/foreclosures commence.
11. When prices drop to sane levels, investors and home buyers return to the market.

Rinse and repeat.
darth

User ID: 28178764
United States
09/09/2019 09:14 PM

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Re: Mortgage applications fall despite low rates as trade war fears grow
Forgot to add.

Every time. Every DAMN time, they say...

But, this time its different!
Anonymous Coward
User ID: 75867433
United States
09/09/2019 09:31 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Forgot to add.

Every time. Every DAMN time, they say...

But, this time its different!
 Quoting: darth


This time it will never crash. It will hit million dollar price soon.
Anonymous Coward
User ID: 76508557
United States
09/09/2019 09:33 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Forgot to add.

Every time. Every DAMN time, they say...

But, this time its different!
 Quoting: darth


This time it will never crash. It will hit million dollar price soon.
 Quoting: Anonymous Coward 75867433


Lol you must be in real estate.

It's a great time to buy...
Captain Casey Jones

User ID: 77310501
United States
09/09/2019 09:34 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Sub Prime Mortgages Way Up $45B in repeat of 2007.

Thursday WALL Street Journal
Captain Casey Jones

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09/09/2019 09:34 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Sub Prime Mortgages Way Up $45B in repeat of 2007.

Thursday WALL Street Journal
Maddrummerboy

User ID: 77406019
United States
09/09/2019 09:36 PM

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Re: Mortgage applications fall despite low rates as trade war fears grow
USA today is very fake news.
 Quoting: Icey


It's always fake news for you if it's not positive for your lord Trump

putin
Anonymous Coward
User ID: 56735503
United States
09/09/2019 09:38 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
if the FED is going to drop interest rates why would you buy now?
Anonymous Coward
User ID: 77357342
United States
09/09/2019 09:45 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
No. It’s because shit is too expensive. They’ve priced out the average person.
 Quoting: Anonymous Coward 22584966


hesright
And because the economy is total shit. Only shills would try and tell people the economy is great right now.


Also lower rates will actually cause a drop in mortgage applications leading to home prices dropping. Keep in mind when interest rates drop lenders tend to toughen up on lending and who they approve for a mortgage. If rates go to zero or below, lenders likely won't approve anyone for a mortgage. And these subprime are really the only thing still keeping the housing bubble alive.

Once rates drop and lenders tighten up on mortgages, home prices will fall like a rock. Which of course is great if you have money saved up and are looking to buy a home or a second home or vacation home.

Also rents will likely drop which will be great for renters. Motel prices will likely come down a lot too, as those have risen a lot due to the housing bubble, which will be great for travelers.

Really the only people that will be hurt from the housing bubble crashing is those that bought at or near the top of the bubble, especially if they took on a subprime mortgage. Then again these people should have known better, especially after the 1st housing bubble crash.
Anonymous Coward
User ID: 77357342
United States
09/09/2019 09:47 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Forgot to add.

Every time. Every DAMN time, they say...

But, this time its different!
 Quoting: darth


This time it will never crash. It will hit million dollar price soon.
 Quoting: Anonymous Coward 75867433


You must be desperate for some idiot to but your grossly overpriced home before the bubble crashes.
Anonymous Coward
User ID: 77867810
United States
09/09/2019 09:49 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


Renting I throwing your money away - millennial
 Quoting: Anonymous Coward 54510475


Owning is throwing your money away if you owe everything on the property, plus you can't move. Best is to make money these days and buy property to be rented...probably not residential or commercial unless it is skyrocketing.
 Quoting: Anonymous Coward 73174030


You can't move? Lol you're retarded.
 Quoting: Anonymous Coward 35100798


clappa
Anonymous Coward
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09/09/2019 09:49 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Only flyover country is affordable and we don't want you here.
 Quoting: Anonymous Coward 77967733


Flyover country has really really crappy, yes crappy weather.

It also has NO recreational opportunities. NO mountains (except Colorado), NO ocean, NO sand beaches worth mentioning, and of course rain, rain and more rain ... which comes with flooding, flooding, and more flooding.

Winter time ... well the weather gets really really cold.
Summer time ... well the weather gets really really hot.

OH ... and the place is filled with uneducated hicks. Unusual if they read a single book after they left school. Have trouble with stringing together anything more than three sentences without pausing for a long, long, very long, time.

Entertainment consists of drinking a 6 pack of Bud Light, or if they are really upscale a 6 pack of Miller Light, in a dimly lit bar with a pool table with ripped felt. If you want to go to the movies well movie house seats smell of vomit and other unrecognizable smells that require you to have an iron stomach to be able to endure the length of an entire movie.

It is NOT a a place YOU coasties want to live. You have it BEST in your coastal locations, so you should probably just stay there.

Just stay out on the coasts ... and when you fly over "fly over country", going to the other fabulous coast, congratulate yourself that you don't have to live in that despicable part of the country that is currently below you.
 Quoting: Midwest Skeptic 77374864


Another full of shit larping foreigner trying to sow discord in the USA.
Anonymous Coward
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United States
09/09/2019 09:49 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Sub Prime Mortgages Way Up $45B in repeat of 2007.

Thursday WALL Street Journal
 Quoting: Captain Casey Jones


Subprime mortgages are the oy thing right now still keeping this bubble afloat. Once rates are lowered, lenders will tighten up and stop approving subprime mortgages. Which in turn will lead to a housing crash likely even bigger than 2008-2012.
Anonymous Coward
User ID: 77184054
United States
09/09/2019 09:53 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
We (middle aged) pulled back despite having 10% down and we're saving for 20% down or we may just rent for the rest of our lives.
Shazzaam

User ID: 77155497
United States
09/09/2019 10:05 PM

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Re: Mortgage applications fall despite low rates as trade war fears grow
somebody could make a killing by starting a home builder and building 2 bed,1 bath houses in small subdivisions for 60-80k.
All my post are theatrical artistic writing .
Anonymous Coward
User ID: 77253883
United States
09/09/2019 10:16 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
No. It’s because shit is too expensive. They’ve priced out the average person.
 Quoting: Anonymous Coward 22584966


Hell, yes.
Anonymous Coward
User ID: 77874673
United States
09/10/2019 12:14 AM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Only flyover country is affordable and we don't want you here.
 Quoting: Anonymous Coward 77967733


Flyover country has really really crappy, yes crappy weather.

It also has NO recreational opportunities. NO mountains (except Colorado), NO ocean, NO sand beaches worth mentioning, and of course rain, rain and more rain ... which comes with flooding, flooding, and more flooding.

Winter time ... well the weather gets really really cold.
Summer time ... well the weather gets really really hot.

OH ... and the place is filled with uneducated hicks. Unusual if they read a single book after they left school. Have trouble with stringing together anything more than three sentences without pausing for a long, long, very long, time.

Entertainment consists of drinking a 6 pack of Bud Light, or if they are really upscale a 6 pack of Miller Light, in a dimly lit bar with a pool table with ripped felt. If you want to go to the movies well movie house seats smell of vomit and other unrecognizable smells that require you to have an iron stomach to be able to endure the length of an entire movie.

It is NOT a a place YOU coasties want to live. You have it BEST in your coastal locations, so you should probably just stay there.

Just stay out on the coasts ... and when you fly over "fly over country", going to the other fabulous coast, congratulate yourself that you don't have to live in that despicable part of the country that is currently below you.
 Quoting: Midwest Skeptic 77374864


You're the uneducated one. You've obviously never set foot in the midwest. Warren Buffet, the richest man in the world, lives in Omaha, Nebraska, where I am from. Would you call him an uneducated hick?

Only uneducated hicks made grand, sweeping generalizations about millions of people they've never met before.

Grow up. Wise up.
My Fear

User ID: 71860689
United States
09/10/2019 12:23 AM
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Re: Mortgage applications fall despite low rates as trade war fears grow
There are jobs, but wages really have not improved. Until wages improve, and people want to start families again, you can expect a stagnant market. Currently, the young are more into having experiences and living tiny or at home with mom and dad.

Starting a family is on the backburning as it is now recognized that children are a luxury and not a retirement investment. Most the young much rather have an enjoyable experiencs and a career that is more compatible with a pet than a child at this point in their lives.
Anonymous Coward
User ID: 77994764
China
09/10/2019 10:54 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
The US used to be a free and peaceful country with declining debt. The USA is now a bankrupt warmongering police state.

Everything is illegal. The US is not a democracy. The Bill of Rights has been repealed. Every day just gets worse.

Instead of just sitting there and thinking about the collapse, why not take concrete action and go out and buy guns, ammo, gold, and food today?

[link to gunshowtrader.com (secure)]

The US might last another 100 years, but the chance of the USA collapsing next year is just as likely.
Anonymous Coward
User ID: 714929
United States
02/11/2024 04:01 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
I bought a house in 2000 for 112k my ex wife sold it 8 years later for 250k- now that same house is worth $350 k - I don’t know how a young person could afford that now -

Any young people listening- rent and be flexible- it’s a new age-
 Quoting: Anonymous Coward 77203654


this^.

this bubble will burst and home prices WILL crash again. Why am I so certain? because anything that dramatically climbs crashes back. I was building homes in 07 , property values were skyrocketing and everything felt nuts. I told all my associates and other builders to pull back and stop building 'Spec' homes. (homes that you build and then immediately put up for sale). None of them listened. 3 out of 3 of them had to file bankruptcy in 09.

rent for now. wait for the crash in prices. Then you can buy, if you still have a job. This next one will make 08 look like a sunday picnic. There is no federal parachute to save it. This is the 'everything bubble'.
 Quoting: Anonymous Coward 76869839


This poast is fucking hilarious 5 years on. The housing bubble will never end, the mortgages being held are under 4%, people are working from home, they have $300-450K equity in the place and you wont get them out of their McMantion without a gun and a chloroform soaked rag. It really was buy now or be priced out forever in 2019. Yuo cannot afford now. This time it’s different , this listing is special! The good schools the big garage the WHATWIFE!
Anonymous Coward
User ID: 86855674
Sweden
02/15/2024 11:10 PM
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Re: Mortgage applications fall despite low rates as trade war fears grow
Americans used to hate criminals and the
homeless, but now every American is a criminal
and soon every American will be homeless.





GLP