General A thread to discuss the incoming housing bust

[member 1013]

I ain’t reading the content but the title has me convince he’s not.

Prepayment Penalty: What It Is And How To Avoid One

A prepayment penalty is a fee that lenders charge borrowers who pay off all or part of their loans ahead of schedule. These fees are outlined in loan documents and are allowed in certain types of loans, like conventional mortgages, investment property loans and personal loans. Fees typically start o

www.forbes.com

i’m not reading that title but i decided to agree with you on this one

 

[Rambo John J]

@Lars knew

U knew bud

 

[member 1013]

@Lars knew

U knew bud

about what? i’d love to take credit and act like a big shot.

 

[Rambo John J]

about what? i’d love to take credit and act like a big shot.

Do it

 

[member 1013]

Do it

i told all of you, from the start

fucking idiots

 

[Splinty]

Google US mortgage prepayments penalties.

You can do that. But I've never seen a prepayment penalty in my life. They exist, since I was always taught to make sure there wasn't any. But I've never come across one.

 

[member 1013]

You can do that. But I've never seen a prepayment penalty in my life. They exist, since I was always taught to make sure there wasn't any. But I've never come across one.

give me a mortgage, dad

 

[La Paix]

You can do that. But I've never seen a prepayment penalty in my life. They exist, since I was always taught to make sure there wasn't any. But I've never come across one.

I’m done googling for the night but seeing as that law came into play in 2010 I have to assume it’s a change due to the fallout of 08.

 

[member 1013]

I’m done googling for the night but seeing as that law came into play in 2010 I have to assume it’s a change true to the fallout of 08.

kick his ass bruv

he was saying you smell like sandlewood IRL

 

[La Paix]

kick his ass bruv

he was saying you smell like sandlewood IRL

I own sandlewood beard oil. It’s intoxicating.

 

[Wild]

he’s telling the truth this time

I always tell the truth Lars. A lot of people just arent willing to accept some of it, yet. Duration from conspiracy to truth is about 3 months nowadays, so give it some time.

 

[La Paix]

I always tell the truth Lars. A lot of people just arent willing to accept some of it, yet. Duration from conspiracy to truth is about 3 months nowadays, so give it some time.

I was happy to accept you big boy.

 

[member 1013]

I always tell the truth Lars. A lot of people just arent willing to accept some of it, yet. Duration from conspiracy to truth is about 3 months nowadays, so give it some time.

i was talking about when you sold me the swampland in florida and said it was prime waterfront property

i don’t forget

 

[Splinty]

I’m done googling for the night but seeing as that law came into play in 2010 I have to assume it’s a change due to the fallout of 08.

It is. But that's just the federal update. Since the 1970s, we have removed prepayment penalties for most loans. And then many states went further. The exception was subprime loans. It was supposedly to help cover the risk for a person with bad debt from bouncing loans to loans to loans and refinancing until they finally wrote their Ponzi scheme. But in reality, it really just locked in the poorest people to even worse loan term. And of course, it's no surprise that this is the class of loans that caused the 2008 crisis.
A quick look at an old Wall Street journal article says that only about 50% of subprime loans had prepayment penalties in the '90s. But that was about 80% 10 years later.

 

[La Paix]

Aaaaaand…

Prepayment penalties do exist in the US.

 

[member 1013]

It is. But that's just the federal update. Since the 1970s, we have removed prepayment penalties for most loans. And then many states went further. The exception was subprime loans. It was supposedly to help cover the risk for a person with bad debt from bouncing loans to loans to loans and refinancing until they finally wrote their Ponzi scheme. But in reality, it really just locked in the poorest people to even worse loan term. And of course, it's no surprise that this is the class of loans that caused the 2008 crisis.
A quick look at an old Wall Street journal article says that only about 50% of subprime loans had prepayment penalties in the '90s. But that was about 80% 10 years later.

 

[La Paix]

 

[Splinty]

Otherwise the system will just gobble up residential ownerships and we go further towards all becoming permanent renters.

Stagflation seems a larger chance now than I ever thought it could a year ago.

My man Jeff making a bet that instead of a bust you will just see corporate overlords gobble up side down houses getting owners out "to help them".

And I was wondering where the new cash flow would come from. Here's your inflows...

Jeff Bezos Increases His Bet On The Single-Family Housing Market

The billionaire founder of Amazon.com, Inc. (NASDAQ: AMZN) Jeff Bezos just made his second investment in the real estate investment platform Arrived Homes during the company's $25 million Series A round. Bezos' personal investment company, Bezos Expeditions, first invested in Arrived Homes...

finance.yahoo.com

Now we can all own fractional shares of the rental properties that we rent from each other ? But increasingly you can't own the house you live in. Just own single pieces of 100 other houses or 100 other people own pieces of yours. And Jeff and Co scoop cream.

 

[Splinty]

@Lars



View: https://vm.tiktok.com/ZMLT2ULaB/?k=1



Is this true?

 

[member 1013]

@Lars



View: https://vm.tiktok.com/ZMLT2ULaB/?k=1



Is this true?

yup

 

[BeardOfKnowledge]

yup

Isn't our interest rate climbng quicker than theirs?

 

[member 1013]

Isn't our interest rate climbng quicker than theirs?

yes but it sounds like they’re talking about above neutral rates which will destroy us

 

[member 1013]

Canada’s banking regulator to tighten mortgage-HELOC rules to curb rising homeowner debt

The trendiest type of home equity line of credit is in the crosshairs of Canada’s banking regulator, which is looking to curb risky borrowing as rising interest rates put added pressure on heavily indebted homeowners

www.theglobeandmail.com

 

[member 1013]

View attachment 68135


My man Jeff making a bet that instead of a bust you will just see corporate overlords gobble up side down houses getting owners out "to help them".

And I was wondering where the new cash flow would come from. Here's your inflows...

Jeff Bezos Increases His Bet On The Single-Family Housing Market

The billionaire founder of Amazon.com, Inc. (NASDAQ: AMZN) Jeff Bezos just made his second investment in the real estate investment platform Arrived Homes during the company's $25 million Series A round. Bezos' personal investment company, Bezos Expeditions, first invested in Arrived Homes...

finance.yahoo.com

Now we can all own fractional shares of the rental properties that we rent from each other ? But increasingly you can't own the house you live in. Just own single pieces of 100 other houses or 100 other people own pieces of yours. And Jeff and Co scoop cream.

A public pension fund is Canada’s newest mega-landlord ⋆ The Breach

The Public Service Pension Investment Board is teaming up with real estate firms and betting on displacement of low-income renters

breachmedia.ca

 

[member 1013]

at least in canada you can ask the government to kill you if you’re poor

Impoverished Canadians accessing MAiD victims of 'systemic coercion,' say disability advocates

Parliamentarians were told they did not properly consult the disabled community, and urged to pause expansion to persons with mental illnesses as sole underlying condition in 2023.

www.hilltimes.com