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  1. #7451
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    Quote Originally Posted by Bromontane View Post
    True, plus I respect the consistency of a govt worker from the People's Republic of Boulder shouting down someone that opted to not use a heavily subsidized government mortgage product.
    Uh, dude, I did no such thing. I didn't pay PMI, I did an 80/15 and put 5% down, precisely to avoid PMI. But I recognized that whether I paid PMI or paid the poorer terms of the 15% loan, I was paying extra for putting only 5% down; that if you choose to only put 5% down you won't get the same loan terms as a 20% down loan. How you structure that choice is up to you. All I did was question him, because his initial posts came across like everyone else was foolish, that all one needed to avoid paying extra was to shop around a bit. So I asked him what he did to avoid PMI while putting down 5%, and then it was like pulling teeth (see what I did there?) to get him to acknowledge that yes, his loan had a higher interest rate than it would have had he put 20% down. So just like everyone else, he paid a premium by not putting 20% down. And sure, maybe some uber wealthy people have different loan options available (not being one I wouldn't know), but for the average person, this is the reality.

    Never said that one must put 20% down. Never said that he should have paid PMI, or that anyone should. But whatever, this is TGR, facts don't matter, so knock yourself out.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin

  2. #7452
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    Quote Originally Posted by Bromontane View Post
    Real estate's never going down, Benny. I read it here. Bidding wars are the norm: bear markets merely anachronisms.



    Wouldn't exactly call 08 a "bear market".

    Let's do some livin'
    After, we die

  3. #7453
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    I was just down in south Florida for my sister's wedding. You would never know there was a real estate crash there 10 years ago. Amazing.
    Live Free or Die

  4. #7454
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    Quote Originally Posted by Bromontane View Post
    Real estate's never going down, Benny. I read it here. Bidding wars are the norm: bear markets merely anachronisms.
    isolated single industry focused communitys with groupthink are more robust than the diverse multipolar economies found in urabn areas, it's a fact jack

  5. #7455
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    What?

    Let's do some livin'
    After, we die

  6. #7456
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    Brick & Mortar Meltdown, Manhattan Style

    https://wolfstreet.com/2019/05/16/br...-rents-plunge/

    5th Avenue b/w 49-55 streets fell 22% to $3047/sq ft!
    Because rich has nothing to do with money.

  7. #7457
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    Der Town
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    Never a better time to buy, if you don't buy now... you won't ever get this opportunity to buy this property again.

  8. #7458
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    I hope to sell it all off in 5 years to move to Union City, TN.

  9. #7459
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    Dec 2010
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    Anyone ever buy points? Worth doing in your experience? Buying retirement home now so going to be in home longer than calculated term of point pay back.

  10. #7460
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    Dec 2016
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    Quote Originally Posted by Danno View Post
    <snip> And sure, maybe some uber wealthy people have different loan options available
    We do.


  11. #7461
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    Quote Originally Posted by simple View Post
    Anyone ever buy points? Worth doing in your experience? Buying retirement home now so going to be in home longer than calculated term of point pay back.
    Why pay points today to buy down the rate when there is a good chance of a recession in the next few years which will drive rates lower? Do a low to 0 cost loan today and refinance when rates are lower.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  12. #7462
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    I've been waiting for that recession. When the fuck will Trump and /or greedy corporations tank it?

    Funny thing is the poor keep getting more poor but that doesn't seem to create recession. Just when rich fucks lose does it happen.

  13. #7463
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    Credit markets have tried to induce a recession a few times with liquidity drying up. But the Fed Put keeps being reintroduced at every higher levels to put a floor on risk markets. Really need a catalyst to break the camel's back as POTUS is obsessed with watching the stock markets. And stocks more or less are a proxy for credit availability.

    potential catalysts:
    - Tesla, WeWork, Uber or similarly high profile tech firm files for bankruptcy, killing sentiment & triggering selling
    - War

  14. #7464
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    Quote Originally Posted by Bromontane View Post
    potential catalysts:
    - Tesla, WeWork, Uber or similarly high profile tech firm files for bankruptcy, killing sentiment & triggering selling
    - War
    most logical thing I've heard lately
    war...... I like how we want to kill iran now, whatever it's all talk to keep attention away from what's really going on
    never really thought about the bankruptcy thing, that's pretty serious, could see any of the companies you mentioned filing, they stiff all their creditors suppliers and what not, reorganizing and keep on keeping on with a black eye of sorts

    credit is so easy to get these days, I played alittle game this last month and increased and gathered up as much credit as I could for my business, why not they were handing it out like lolipops, just had to have a massive amount of cash in the bank, to pretend I was rich, then applied for all kinds of credit, so now I'm considering maxing out all the credit I can, pissing it away, claiming bankruptcy, leave everyone else screwed and riding off into the sunset in my 100k sprinter van without a worry in the world, gotta love america

  15. #7465
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    Quote Originally Posted by fastfred View Post
    most logical thing I've heard lately
    war...... I like how we want to kill iran now, whatever it's all talk to keep attention away from what's really going on
    never really thought about the bankruptcy thing, that's pretty serious, could see any of the companies you mentioned filing, they stiff all their creditors suppliers and what not, reorganizing and keep on keeping on with a black eye of sorts

    credit is so easy to get these days, I played alittle game this last month and increased and gathered up as much credit as I could for my business, why not they were handing it out like lolipops, just had to have a massive amount of cash in the bank, to pretend I was rich, then applied for all kinds of credit, so now I'm considering maxing out all the credit I can, investing it in an outdoor lifestyle marketing campaign, if by chance it fails, claiming bankruptcy, renegotiating debts, and riding off into the sunset in my 100k sprinter van without a worry in the world, gotta love america
    FIFY and make sure you take the cash out for your sprinter van as a “fee” early on. Otherwise you’ll be worried about the repo man. And don’t ever commingle your personal and business expenses.

  16. #7466
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    Feb 2008
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    Quote Originally Posted by Bromontane View Post
    potential catalysts:
    - Tesla, WeWork, Uber or similarly high profile tech firm files for bankruptcy, killing sentiment & triggering selling
    - War
    -pandemic
    -large scale natural disaster
    -aliens attack

  17. #7467
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    Quote Originally Posted by neufox47 View Post
    FIFY and make sure you take the cash out for your sprinter van as a “fee” early on. Otherwise you’ll be worried about the repo man. And don’t ever commingle your personal and business expenses.
    I prolly wasn't clear cash for the sprinter, for sure, register it in my parents name like I did with my house
    commingling personal and business is the only way to go, makes the irs audit harder to do
    writing off grocries as meals and entertainment
    I'm a c or s or something incorporated, don't have a clue, I just know I get a paycheck twice a month, don't ever take tax or money advice from me

  18. #7468
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    Quote Originally Posted by leftfield View Post
    -pandemic
    -large scale natural disaster
    -aliens attack
    Jesus returns , and he's not going to be happy.

    Let's do some livin'
    After, we die

  19. #7469
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    Quote Originally Posted by spanky View Post
    Brick & Mortar Meltdown, Manhattan Style

    https://wolfstreet.com/2019/05/16/br...-rents-plunge/

    5th Avenue b/w 49-55 streets fell 22% to $3047/sq ft!
    This is my building and tons of vacancies at the street level. Polo (clothing) flagship store closed about a year ago and has sat vacant ever since.
    All the years combine
    they melt into a dream

  20. #7470
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    Quote Originally Posted by liv2ski View Post
    Why pay points today to buy down the rate when there is a good chance of a recession in the next few years which will drive rates lower? Do a low to 0 cost loan today and refinance when rates are lower.
    I just looked up a 30 year fixed, saw rates were 4%. While they can go lower, that's still pretty damn low.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin

  21. #7471
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    Dec 2010
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    We got offered 4.25 on 30 year fixed. With points I can get it to 3.74%

    A credit

  22. #7472
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    Quote Originally Posted by St. Jerry View Post
    This is my building and tons of vacancies at the street level. Polo (clothing) flagship store closed about a year ago and has sat vacant ever since.
    We’re neighbors. I work above the Victoria’s Secret. That store and the new Nike flagship on the other corner befuddle me as to how the renovation costs and rents can be covered.
    Because rich has nothing to do with money.

  23. #7473
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    Quote Originally Posted by simple View Post
    We got offered 4.25 on 30 year fixed. With points I can get it to 3.74%

    A credit
    80% LTV with a $400k loan amount. Green is a credit towards costs and red are points paid for a buy down,

    Name:  Capture.JPG
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    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  24. #7474
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    Quote Originally Posted by spanky View Post
    We’re neighbors. I work above the Victoria’s Secret. That store and the new Nike flagship on the other corner befuddle me as to how the renovation costs and rents can be covered.
    I just assumed the high profile spots in Manhattan from global companies are partly absorbed as a marketing expense.

  25. #7475
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    Quote Originally Posted by Bromontane View Post
    I just assumed the high profile spots in Manhattan from global companies are partly absorbed as a marketing expense.
    all physical retail stores are a blend of showroom/marketing/advertising/customer acquisition/return processing now.

    The thing about those corps you mentioned earlier is they are heavily biased towards urban yuppies/elite. 24% of Ubers revenue is from Ny, LA, SF, Lon & GRU. 26% of WeWork locations are in those same 5 metro areas per my count. Not that those citys aren't important but they are <10% of world GDP in aggregate.

    now, TSLA retail bagholders is different, but who knows if there are enough at volume to make a difference.

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