Renting V Owning

[jonmx 1,591]

13 minutes ago, Baker Boy said:

The value of American homes has gone up 26% since Joe Biden took office. 

And interest rates have gone from 2.79 percent to 6.74%.

Let's look what that has done to young people trying to buy their first home.

On Jan. 20, 2021.  A $400,000 home.  $80,000 down.  $320,000 30-year mortgage at 2.79 percent is $1,313.   

On March 22, 2024.  The house now costs $504,000.  Down-payment is $100,800.  The 30-year mortgage is now on $403,200 at 6.74 percent, making the payment $2612.

Congrats, Biden has doubled the mortgage payment on the same house.  Rejoice!  

[Bert 1,091]

1 hour ago, Baker Boy said:

my point is that you don’t have any equity in your rental property.

BTW: property taxes, and a large portion of mortgages (interest) are tax deductible. 

True but you also have none of the  risks of having negative equity if you are renting.  

We won't get into the impact of increasing the standard deduction had on the number of mortgage holders itemizing.  Okay, so you are only paying 80% of the increase in mortgage interest and property tax.

I don't advocate owning a home or renting.  Each individual situation is very different.  

[BeachGuy23 512]

2 hours ago, jonmx said:

And interest rates have gone from 2.79 percent to 6.74%.

Let's look what that has done to young people trying to buy their first home.

On Jan. 20, 2021.  A $400,000 home.  $80,000 down.  $320,000 30-year mortgage at 2.79 percent is $1,313.   

On March 22, 2024.  The house now costs $504,000.  Down-payment is $100,800.  The 30-year mortgage is now on $403,200 at 6.74 percent, making the payment $2612.

Congrats, Biden has doubled the mortgage payment on the same house.  Rejoice!  

You think interest rates of 2.79% are good and healthy for the economy?

LOLOLOLOLOL

Of course you do.  You moron conservatives think money should be free and just print as much as we need, no worries!

god you people are clueless...SMH

[Alias Detective 1,179]

2 minutes ago, BeachGuy23 said:

You think interest rates of 2.79% are good and healthy for the economy?

LOLOLOLOLOL

Of course you do.  You moron conservatives think money should be free and just print as much as we need, no worries!

god you people are clueless...SMH

It's an age thing not a political thing is my bet.  How old are you @jonmx?  When I first started working home mortgages were 8%.  The millennials need to stop crying a river because rates are at 6-7%.

[BeachGuy23 512]

1 minute ago, Alias Detective said:

It's an age thing not a political thing is my bet.  How old are you @jonmx?  When I first started working home mortgages were 8%.  The millennials need to stop crying a river because rates are at 6-7%.

For real.

And housing cost started to explode in 2020 when Trump handed everyone free checks and many people could work from anywhere in the country for the first time.

SMH

 

[seafoam1 1,879]

5 minutes ago, BeachGuy23 said:

For real.

And housing cost started to explode in 2020 when Trump handed everyone free checks and many people could work from anywhere in the country for the first time.

SMH

 

TRUMP!!! 

[thegeneral 1,414]

2 hours ago, jonmx said:

And interest rates have gone from 2.79 percent to 6.74%.

Let's look what that has done to young people trying to buy their first home.

On Jan. 20, 2021.  A $400,000 home.  $80,000 down.  $320,000 30-year mortgage at 2.79 percent is $1,313.   

On March 22, 2024.  The house now costs $504,000.  Down-payment is $100,800.  The 30-year mortgage is now on $403,200 at 6.74 percent, making the payment $2612.

Congrats, Biden has doubled the mortgage payment on the same house.  Rejoice!  

You were against raising interest rates

[seafoam1 1,879]

Just now, thegeneral said:

You were against raising interest rates

And you are a really stupid libtard, so...

[thegeneral 1,414]

4 minutes ago, seafoam1 said:

And you are a really stupid libtard, so...

🥲 Peefoam lashing out wildly today.

[seafoam1 1,879]

Just now, thegeneral said:

🥲 Peefoam lashing out wildly today.

You try too hard pvssy. 

[BeachGuy23 512]

5 minutes ago, seafoam1 said:

You try too hard pvssy. 

You really should sit this one out renter.

LMFAO

[seafoam1 1,879]

Just now, BeachGuy23 said:

You really should sit this one out renter.

LMFAO

I'm wealthier than you. Wanna bet?

[BeachGuy23 512]

1 minute ago, seafoam1 said:

I'm wealthier than you. Wanna bet?

LOL

I'm not tiny dik Horsegirl.  I DGAF how wealthy you are.

Long term renting is financially stupid.

End of story boyo. 

[seafoam1 1,879]

6 minutes ago, BeachGuy23 said:

LOL

I'm not tiny dik Horsegirl.  I DGAF how wealthy you are.

Long term renting is financially stupid.

End of story boyo. 

Yeah. You don't know shlt. You are ghay and you prove it every post.  Move on back to whining about other people being more successful than you. 

Keep backing out bltch. 

[BeachGuy23 512]

2 minutes ago, seafoam1 said:

Yeah. You don't know shlt. You are ghay and you prove it every post.  Move on back to whining about other people being more successful than you. 

Keep backing out bltch. 

LOL

Why so angry boyo?  Who do I whine about being more successful than me?

And why do you accuse everyone of being gay or some other juvenile slam in most of your posts.

People are going to start to talk boyo...oh wait, they already do and have concluded you heep big renter homo.

LMFAO

[Maximum Overkill 645]

56 minutes ago, BeachGuy23 said:

Long term renting is financially stupid.

Damn right BOYO. You might as well light your Money on fire. My Father gave me the best advice ever and that's why I'm in the position I am. 

[seafoam1 1,879]

46 minutes ago, BeachGuy23 said:

LOL

Why so angry boyo?  Who do I whine about being more successful than me?

And why do you accuse everyone of being gay or some other juvenile slam in most of your posts.

People are going to start to talk boyo...oh wait, they already do and have concluded you heep big renter homo.

LMFAO

I am in no ways angry. That's a dumb ploy by you.

Keep up your whining pimpledoosh. 

[Maximum Overkill 645]

Or do this?? 

[jonmx 1,591]

1 hour ago, BeachGuy23 said:

You think interest rates of 2.79% are good and healthy for the economy?

LOLOLOLOLOL

Of course you do.  You moron conservatives think money should be free and just print as much as we need, no worries!

god you people are clueless...SMH

Yes.   The whole purpose of the federal reserve is to maximize interest rates without taking down the economy.   High interest rates only benefit the banks, particularly the central banks and serves to enslave the population.  Debt-based currency is modern day slavery.  The system is set up so that people are endlessly chasing a massively increasing amount of debt, and there is not nearly enough money in the system to ever pay it off.

[jonmx 1,591]

1 hour ago, thegeneral said:

You were against raising interest rates

I am against the fraudulent debt-based currency scheme.   It is mathematically unsustainable.  Everyone in the world is chasing debt, except the owners of the central banks.  

[thegeneral 1,414]

2 minutes ago, jonmx said:

I am against the fraudulent debt-based currency scheme.   It is mathematically unsustainable.  Everyone in the world is chasing debt, except the owners of the central banks.  

That didn’t really answer the question but yeah heavy debt is bad.

[jonmx 1,591]

3 minutes ago, thegeneral said:

That didn’t really answer the question but yeah heavy debt is bad.

Heavy debt is inherent to the debt based currency system.  There is a reason why every country in the world is drowning in debt.  Why is this??? The system is rigged for the banks not much different than casino gambling is rigged.  There is no way to reduce debt.  The aggregate debt is ALWAYS rising exponentially.  

[Maximum Overkill 645]

28 minutes ago, jonmx said:

 It is mathematically unsustainable.  Everyone in the world is chasing debt, except the owners of the central banks.  

.    100% Correct 

[IGotWorms 3,315]

3 hours ago, BeachGuy23 said:

You think interest rates of 2.79% are good and healthy for the economy?

LOLOLOLOLOL

Of course you do.  You moron conservatives think money should be free and just print as much as we need, no worries!

god you people are clueless...SMH

Same dumbass was whining about his savings account only returning .09%

[thegeneral 1,414]

1 hour ago, jonmx said:

Heavy debt is inherent to the debt based currency system.  There is a reason why every country in the world is drowning in debt.  Why is this??? The system is rigged for the banks not much different than casino gambling is rigged.  There is no way to reduce debt.  The aggregate debt is ALWAYS rising exponentially.  

People do like to borrow money, especially when it’s “cheap”.

You had pointed out that getting a mortgage was now more expensive because rates were higher. Do you think the Fed did that properly?

[Maximum Overkill 645]

 

[jonmx 1,591]

9 minutes ago, thegeneral said:

People do like to borrow money, especially when it’s “cheap”.

You had pointed out that getting a mortgage was now more expensive because rates were higher. Do you think the Fed did that properly?

As I tried to explain....I have zero respect for the federal reserve system.  It is the biggest criminal enterprise ever created.   I am sure what you don't understand.   Any rate they set up is criminal, the higher the worst.  It is a dishonest monetary system.   People have no choice.   Our system requires people to borrow.   It is not an option, to like or dislike.  We are required to borrow more and more to function. 

[thegeneral 1,414]

37 minutes ago, jonmx said:

As I tried to explain....I have zero respect for the federal reserve system.  It is the biggest criminal enterprise ever created.   I am sure what you don't understand.   Any rate they set up is criminal, the higher the worst.  It is a dishonest monetary system.   People have no choice.   Our system requires people to borrow.   It is not an option, to like or dislike.  We are required to borrow more and more to function. 

Yeah I am not following this rant. It’s fine.

[jonmx 1,591]

4 minutes ago, thegeneral said:

Yeah I am not following this rant. It’s fine.

That is why the scheme is so effective, most people can't comprehend the inherent flaws in the system. 

[jonmx 1,591]

1 hour ago, jonmx said:

That is why the scheme is so effective, most people can't comprehend the inherent flaws in the system. 

Not surprising there are at least two idiots who don't get it.  Proves my point.