Even houses in rural areas are seeing increased prices. Still way lower than big cities, but to the point that you see the listing and you ask "really, for that house in our area?"
While not ideal, the mortgage will probably still be cheaper even with PMI than a rental in many cases. And in several years I think you can refinance and use your equity as a down payment and get rid of it. After living in California my entire life, I left 9 years ago because I knew I'd never be able to own there. I was tired of rent going up and having no equity. When I moved to Colorado my entire mortgage on my 5 bedroom house was $6 less than my half of the rent on a 2-bedroom apartment in LA. Since then housing has about doubled, I don't know if I could move to Colorado now if I didn't then. And its still cheaper to buy than rent here. Housing is crazy in so many places, we could be close to another bubble popping.
yeah it's an odd market...houses in our downtown area that were selling for $140K three years ago are going for $180K immediately. We have a lot of growth here but it does make you wonder if banks are lending based on inflated values and the market drops there are going to be issues.
The market is what the market is. It is nothing like it was 14 years ago when banks/brokers were flat out telling appraisers where they needed the house to appraised for and stuff. Nowadays we have to order them through third party vendors who randomly assign local appraisers. So there's no conflict of interest anymore.
There is going to be a correction at some point, but I don't think it will be anything like what happened back then.
I used to do mortgages for about 7 years. I’ll never forget the first time I ordered the appraisal. The appraiser asked “where do you need it to come in?” I was shocked.
To some degree I understand that. If an appraiser knows what is needed/required they can always decide if it truly meets that value instead of their own calculated value that might be $1,000 off what they are looking for.
That’s the responsible way of looking at it. But in my experience , that’s not what they meant.
I'm not arguing that there aren't shady appraisers but I have experienced many issues where appraiser doesn't give the value wanted and it has been a problem for the buyer.
Values are inflated around my area but there are comparative sales to back them up. The question will be if there is a bubble and it breaks will these people that paid $180K for a $140K house be able to sell it for $160K in five years or will they end up owing more on it then it appraises for.
Where do people buy homes for $180k, these days?
Do you live in Alaska?
North Dakota?
Indiana...these are old homes probably built in the early 1900s in the downtown area of a small city.
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0
F Me In The Brain
this knows everybody from other commets Posts: 31,378
While not ideal, the mortgage will probably still be cheaper even with PMI than a rental in many cases. And in several years I think you can refinance and use your equity as a down payment and get rid of it. After living in California my entire life, I left 9 years ago because I knew I'd never be able to own there. I was tired of rent going up and having no equity. When I moved to Colorado my entire mortgage on my 5 bedroom house was $6 less than my half of the rent on a 2-bedroom apartment in LA. Since then housing has about doubled, I don't know if I could move to Colorado now if I didn't then. And its still cheaper to buy than rent here. Housing is crazy in so many places, we could be close to another bubble popping.
yeah it's an odd market...houses in our downtown area that were selling for $140K three years ago are going for $180K immediately. We have a lot of growth here but it does make you wonder if banks are lending based on inflated values and the market drops there are going to be issues.
The market is what the market is. It is nothing like it was 14 years ago when banks/brokers were flat out telling appraisers where they needed the house to appraised for and stuff. Nowadays we have to order them through third party vendors who randomly assign local appraisers. So there's no conflict of interest anymore.
There is going to be a correction at some point, but I don't think it will be anything like what happened back then.
I used to do mortgages for about 7 years. I’ll never forget the first time I ordered the appraisal. The appraiser asked “where do you need it to come in?” I was shocked.
To some degree I understand that. If an appraiser knows what is needed/required they can always decide if it truly meets that value instead of their own calculated value that might be $1,000 off what they are looking for.
That’s the responsible way of looking at it. But in my experience , that’s not what they meant.
I'm not arguing that there aren't shady appraisers but I have experienced many issues where appraiser doesn't give the value wanted and it has been a problem for the buyer.
Values are inflated around my area but there are comparative sales to back them up. The question will be if there is a bubble and it breaks will these people that paid $180K for a $140K house be able to sell it for $160K in five years or will they end up owing more on it then it appraises for.
Where do people buy homes for $180k, these days?
Do you live in Alaska?
North Dakota?
Indiana...these are old homes probably built in the early 1900s in the downtown area of a small city.
Interesting. Do you like the city?
I grew up in VT - "Them there houses built in the 1900s were built by gad dang 'Flatlanders' and the people who built 'em only became "Vermonters" in the 2000s."
2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
"Oh Canada...you're beautiful when you're drunk" -EV 8/14/93
While not ideal, the mortgage will probably still be cheaper even with PMI than a rental in many cases. And in several years I think you can refinance and use your equity as a down payment and get rid of it. After living in California my entire life, I left 9 years ago because I knew I'd never be able to own there. I was tired of rent going up and having no equity. When I moved to Colorado my entire mortgage on my 5 bedroom house was $6 less than my half of the rent on a 2-bedroom apartment in LA. Since then housing has about doubled, I don't know if I could move to Colorado now if I didn't then. And its still cheaper to buy than rent here. Housing is crazy in so many places, we could be close to another bubble popping.
yeah it's an odd market...houses in our downtown area that were selling for $140K three years ago are going for $180K immediately. We have a lot of growth here but it does make you wonder if banks are lending based on inflated values and the market drops there are going to be issues.
The market is what the market is. It is nothing like it was 14 years ago when banks/brokers were flat out telling appraisers where they needed the house to appraised for and stuff. Nowadays we have to order them through third party vendors who randomly assign local appraisers. So there's no conflict of interest anymore.
There is going to be a correction at some point, but I don't think it will be anything like what happened back then.
I used to do mortgages for about 7 years. I’ll never forget the first time I ordered the appraisal. The appraiser asked “where do you need it to come in?” I was shocked.
To some degree I understand that. If an appraiser knows what is needed/required they can always decide if it truly meets that value instead of their own calculated value that might be $1,000 off what they are looking for.
That’s the responsible way of looking at it. But in my experience , that’s not what they meant.
I'm not arguing that there aren't shady appraisers but I have experienced many issues where appraiser doesn't give the value wanted and it has been a problem for the buyer.
Values are inflated around my area but there are comparative sales to back them up. The question will be if there is a bubble and it breaks will these people that paid $180K for a $140K house be able to sell it for $160K in five years or will they end up owing more on it then it appraises for.
Where do people buy homes for $180k, these days?
Do you live in Alaska?
North Dakota?
We bought ours in KC about 4.5 years ago for 210k. The latest appraisal is about 100k more based on how the neighborhood has grown + the many renovations we've done to the house.
Not 180k, but in the ballpark.
I LOVE MUSIC.
www.cluthelee.com
www.cluthe.com
0
F Me In The Brain
this knows everybody from other commets Posts: 31,378
While not ideal, the mortgage will probably still be cheaper even with PMI than a rental in many cases. And in several years I think you can refinance and use your equity as a down payment and get rid of it. After living in California my entire life, I left 9 years ago because I knew I'd never be able to own there. I was tired of rent going up and having no equity. When I moved to Colorado my entire mortgage on my 5 bedroom house was $6 less than my half of the rent on a 2-bedroom apartment in LA. Since then housing has about doubled, I don't know if I could move to Colorado now if I didn't then. And its still cheaper to buy than rent here. Housing is crazy in so many places, we could be close to another bubble popping.
yeah it's an odd market...houses in our downtown area that were selling for $140K three years ago are going for $180K immediately. We have a lot of growth here but it does make you wonder if banks are lending based on inflated values and the market drops there are going to be issues.
The market is what the market is. It is nothing like it was 14 years ago when banks/brokers were flat out telling appraisers where they needed the house to appraised for and stuff. Nowadays we have to order them through third party vendors who randomly assign local appraisers. So there's no conflict of interest anymore.
There is going to be a correction at some point, but I don't think it will be anything like what happened back then.
I used to do mortgages for about 7 years. I’ll never forget the first time I ordered the appraisal. The appraiser asked “where do you need it to come in?” I was shocked.
To some degree I understand that. If an appraiser knows what is needed/required they can always decide if it truly meets that value instead of their own calculated value that might be $1,000 off what they are looking for.
That’s the responsible way of looking at it. But in my experience , that’s not what they meant.
I'm not arguing that there aren't shady appraisers but I have experienced many issues where appraiser doesn't give the value wanted and it has been a problem for the buyer.
Values are inflated around my area but there are comparative sales to back them up. The question will be if there is a bubble and it breaks will these people that paid $180K for a $140K house be able to sell it for $160K in five years or will they end up owing more on it then it appraises for.
Where do people buy homes for $180k, these days?
Do you live in Alaska?
North Dakota?
We bought ours in KC about 4.5 years ago for 210k. The latest appraisal is about 100k more based on how the neighborhood has grown + the many renovations we've done to the house.
Not 180k, but in the ballpark.
I like KC, as well. That is great to hear -- a well timed purchase!
While not ideal, the mortgage will probably still be cheaper even with PMI than a rental in many cases. And in several years I think you can refinance and use your equity as a down payment and get rid of it. After living in California my entire life, I left 9 years ago because I knew I'd never be able to own there. I was tired of rent going up and having no equity. When I moved to Colorado my entire mortgage on my 5 bedroom house was $6 less than my half of the rent on a 2-bedroom apartment in LA. Since then housing has about doubled, I don't know if I could move to Colorado now if I didn't then. And its still cheaper to buy than rent here. Housing is crazy in so many places, we could be close to another bubble popping.
yeah it's an odd market...houses in our downtown area that were selling for $140K three years ago are going for $180K immediately. We have a lot of growth here but it does make you wonder if banks are lending based on inflated values and the market drops there are going to be issues.
The market is what the market is. It is nothing like it was 14 years ago when banks/brokers were flat out telling appraisers where they needed the house to appraised for and stuff. Nowadays we have to order them through third party vendors who randomly assign local appraisers. So there's no conflict of interest anymore.
There is going to be a correction at some point, but I don't think it will be anything like what happened back then.
I used to do mortgages for about 7 years. I’ll never forget the first time I ordered the appraisal. The appraiser asked “where do you need it to come in?” I was shocked.
To some degree I understand that. If an appraiser knows what is needed/required they can always decide if it truly meets that value instead of their own calculated value that might be $1,000 off what they are looking for.
That’s the responsible way of looking at it. But in my experience , that’s not what they meant.
I'm not arguing that there aren't shady appraisers but I have experienced many issues where appraiser doesn't give the value wanted and it has been a problem for the buyer.
Values are inflated around my area but there are comparative sales to back them up. The question will be if there is a bubble and it breaks will these people that paid $180K for a $140K house be able to sell it for $160K in five years or will they end up owing more on it then it appraises for.
Where do people buy homes for $180k, these days?
Do you live in Alaska?
North Dakota?
We bought ours in KC about 4.5 years ago for 210k. The latest appraisal is about 100k more based on how the neighborhood has grown + the many renovations we've done to the house.
Not 180k, but in the ballpark.
I like KC, as well. That is great to hear -- a well timed purchase!
Indeed! We moved here from Portland, OR and had been priced out of that housing market, so we had the down payment ready to go. I'm happy with how it worked out! And we really love our house.
I LOVE MUSIC.
www.cluthelee.com
www.cluthe.com
0
F Me In The Brain
this knows everybody from other commets Posts: 31,378
2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
Your mortgage is $600 a month? Wow.
Good for you.
I don't feel the need to share what ours is but it would make you vomit all over yourself, and I am sure there are many here who pay much more.
2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
Your mortgage is $600 a month? Wow.
Good for you.
I don't feel the need to share what ours is but it would make you vomit all over yourself, and I am sure there are many here who pay much more.
Your property taxes alone will make people barf. lol
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0
F Me In The Brain
this knows everybody from other commets Posts: 31,378
2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
Your mortgage is $600 a month? Wow.
Good for you.
I don't feel the need to share what ours is but it would make you vomit all over yourself, and I am sure there are many here who pay much more.
Your property taxes alone will make people barf. lol
Fucking Jersey - I sat next to a woman on a plane a few years back who was from PA and was married to a fancy pants accountant. She told me the first thing her husband asks of anyone he meets who says they live in NJ is "why?" The first advice he gives them is "move to PA and leave the taxes."
2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
Your mortgage is $600 a month? Wow.
Good for you.
I don't feel the need to share what ours is but it would make you vomit all over yourself, and I am sure there are many here who pay much more.
Your property taxes alone will make people barf. lol
Fucking Jersey - I sat next to a woman on a plane a few years back who was from PA and was married to a fancy pants accountant. She told me the first thing her husband asks of anyone he meets who says they live in NJ is "why?" The first advice he gives them is "move to PA and leave the taxes."
Certain municipalities have lower taxes, though -- or at least they used to. One of them was Berkeley Heights. I remember looking there for homes around 10 years ago. Seemed a pretty nice town, too. I think a 10 Club member pointed me to it.
Post edited by dankind on
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2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
Your mortgage is $600 a month? Wow.
Good for you.
I don't feel the need to share what ours is but it would make you vomit all over yourself, and I am sure there are many here who pay much more.
Your property taxes alone will make people barf. lol
Fucking Jersey - I sat next to a woman on a plane a few years back who was from PA and was married to a fancy pants accountant. She told me the first thing her husband asks of anyone he meets who says they live in NJ is "why?" The first advice he gives them is "move to PA and leave the taxes."
Certain municipalities have lower taxes, though -- or at least they used to. One of them was Berkeley Heights. I remember looking there for homes around 10 years ago. Seemed a pretty nice town, too.
In my burg it is different for what side of the street you are on, sometimes.
Mrs FMe wanted a place where the property taxes were $30,000 per year. I lol'd.
While not ideal, the mortgage will probably still be cheaper even with PMI than a rental in many cases. And in several years I think you can refinance and use your equity as a down payment and get rid of it. After living in California my entire life, I left 9 years ago because I knew I'd never be able to own there. I was tired of rent going up and having no equity. When I moved to Colorado my entire mortgage on my 5 bedroom house was $6 less than my half of the rent on a 2-bedroom apartment in LA. Since then housing has about doubled, I don't know if I could move to Colorado now if I didn't then. And its still cheaper to buy than rent here. Housing is crazy in so many places, we could be close to another bubble popping.
yeah it's an odd market...houses in our downtown area that were selling for $140K three years ago are going for $180K immediately. We have a lot of growth here but it does make you wonder if banks are lending based on inflated values and the market drops there are going to be issues.
The market is what the market is. It is nothing like it was 14 years ago when banks/brokers were flat out telling appraisers where they needed the house to appraised for and stuff. Nowadays we have to order them through third party vendors who randomly assign local appraisers. So there's no conflict of interest anymore.
There is going to be a correction at some point, but I don't think it will be anything like what happened back then.
I used to do mortgages for about 7 years. I’ll never forget the first time I ordered the appraisal. The appraiser asked “where do you need it to come in?” I was shocked.
To some degree I understand that. If an appraiser knows what is needed/required they can always decide if it truly meets that value instead of their own calculated value that might be $1,000 off what they are looking for.
That’s the responsible way of looking at it. But in my experience , that’s not what they meant.
I'm not arguing that there aren't shady appraisers but I have experienced many issues where appraiser doesn't give the value wanted and it has been a problem for the buyer.
Values are inflated around my area but there are comparative sales to back them up. The question will be if there is a bubble and it breaks will these people that paid $180K for a $140K house be able to sell it for $160K in five years or will they end up owing more on it then it appraises for.
Where do people buy homes for $180k, these days?
Do you live in Alaska?
North Dakota?
Indiana...these are old homes probably built in the early 1900s in the downtown area of a small city.
Interesting. Do you like the city?
I grew up in VT - "Them there houses built in the 1900s were built by gad dang 'Flatlanders' and the people who built 'em only became "Vermonters" in the 2000s."
Love it. It's growing like mad so the downtown homes have a lot of restaurants and retail within walking distance.
Remember the Thomas Nine !! (10/02/2018) The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago 2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy 2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE) 2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston 2020: Oakland, Oakland:2021: EV Ohana, Ohana, Ohana, Ohana 2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville 2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
2 stories in tonights episode and its fairly well infuriating, so far......
I wasn't surprised at the FB piece. I also don't think it's much of a whistleblower story. The girl sounds like she has an axe to grind though.
this woman has an axe to grind? what gives that impression?
Some of the things she said, I don't recall exactly, but a few things she came off as wanting to stick it to FB.
That is what I got from it.
I was also not the slightest surprised by the story. It's been known for a while now that this is what they have been doing.
What was the other story that angered you? The student loan one? That blew me away and none of it was new either. The part of that one that got me though was when the gal explained that her minimum payment was a cent under to qualify as a payment. That one my jaw dropped.
Student loans are a complete scam. Programmed all through school that the only way to get a future is to get an education. For those of us with less advantages, we get stuck borrowing at high compounding interest rates our whole lives. Unless we get lucky and get a decent job, then we pay those loans off for years before we actually get to begin building any sort of wealth. There is a better way out there for sure.
My kids will be paying off mine.
luckily they don't transfer down the line...they may not receive any inheritance but they won't have to pay for yours at least.
That must be a recent change. My wife and I have always filed separately so that my debt doesn't impact her credit and also so that her salary isn't included in the calculations for my payment plan. I wonder if we can file jointly now with neither of us being penalized for the stupidest decision I've ever made in my life (i.e., higher ed).
my GF has been paying for years and still owes 6 figures
why wouldn't people open a low interest line of credit so they can pay it off decades earlier?
You'd have to ask her why it is structured and why she has tried to get it consolidated and can't. She has done many a thing and hit a wall each time.
The principals are huge because the cost of higher education in the US is through the roof. Interest rates don't get much lower than they do on student loans. But with principals at six figures, those interest payments alone can be similar to a mortgage payment. And the balances just get bigger every year for a lot of us. Mine is well more than double what I originally borrowed at this point.
Mine was double what I actually borrowed. For a couple years I put everything extra towards it. Been making decent payments since the cares act lowered rates to zero. I am now just below what I originally borrowed, nearly a decade later. I might actually have a chance at paying it off if they decide to extend the interest freeze.
My wife really wants to buy a house, but I am in the lets not buy a house until we pay off our student loans camp, which would basically mean we may possibly never reach homeownership before becoming geriatrics, and we don't even have 6 figure debt combined.
I’m not a real estate expert, but my $0.02 is buy if you can afford it, unless you plan to move every 2-3 years. Most places it’s cheaper to own, meaning your mortgage is less than the rental rate. I bought my first home 8 years ago and it’s doubled in equity. My mortgage is less than half what the rental market would be by now. That’s the whole reason people buy property to rent, they can get a $1000 mortgage and rent it for $1500 the first year. 10 years later they have the same mortgage (taxes and insurance will go up slightly) but by then they have a ton of equity that the renters paid for and are now renting the same place for $2000.
at thanksgiving dinner two nights ago, my wife's brother told us he pays $1200 a month plus utilities for his two bedroom apartment. sure, there's added costs for a home, like taxes and maintenance, but our mortgage is $311 biweekly. HALF of his rent. that's absurd.
Your mortgage is $600 a month? Wow.
Good for you.
I don't feel the need to share what ours is but it would make you vomit all over yourself, and I am sure there are many here who pay much more.
yep. small house, but lots of dance to pay for. (two teen girls)
"Oh Canada...you're beautiful when you're drunk" -EV 8/14/93
This weeks 60 minutes was great. The story that Anderson Cooper did w Yuval Noah was truly amazing. I always thought your DNA was being harvested and used for something other than to help the people they took it from. I know I've mentioned this before on these boards.
This weeks 60 minutes was great. The story that Anderson Cooper did w Yuval Noah was truly amazing. I always thought your DNA was being harvested and used for something other than to help the people they took it from. I know I've mentioned this before on these boards.
So more about the 60 minutes special that no one seems to care about...
The use of DNA to better a company rather than the person you obtained the info from is criminal but most people openly just give their dna away.
There is an add for Cologuard which is a DNA harvesting, non invasive colon screening kit. Sounds great right? Wrong. It's not nearly effective and you just signed off your DNA so they can profit.
All these companies like 23&Me are really fleecing the people.
So more about the 60 minutes special that no one seems to care about...
The use of DNA to better a company rather than the person you obtained the info from is criminal but most people openly just give their dna away.
There is an add for Cologuard which is a DNA harvesting, non invasive colon screening kit. Sounds great right? Wrong. It's not nearly effective and you just signed off your DNA so they can profit.
All these companies like 23&Me are really fleecing the people.
Thoughts?
I saw that coming from a mile away. As soon as those services started being offered. So far I have not used any of these services. I think it is criminal to use the data for any other purpose than as advertised, but the end user is at fault for not reading the fine print or understanding that their data is being used for the commercial gain of others.
So more about the 60 minutes special that no one seems to care about...
The use of DNA to better a company rather than the person you obtained the info from is criminal but most people openly just give their dna away.
There is an add for Cologuard which is a DNA harvesting, non invasive colon screening kit. Sounds great right? Wrong. It's not nearly effective and you just signed off your DNA so they can profit.
All these companies like 23&Me are really fleecing the people.
Thoughts?
I saw that coming from a mile away. As soon as those services started being offered. So far I have not used any of these services. I think it is criminal to use the data for any other purpose than as advertised, but the end user is at fault for not reading the fine print or understanding that their data is being used for the commercial gain of others.
It’s like carrying an IPhone and posting your life on faceturd and then complaining about government microchips or not having any semblance of a “right to privacy.”
Anyone else notice the explosion of cookies on just about every website you visit nowadays, some won’t grant you access if you don’t accept. Can’t wait to get rid of my phone.
Comments
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
-EV 8/14/93
Not 180k, but in the ballpark.
www.cluthelee.com
www.cluthe.com
I like KC, as well. That is great to hear -- a well timed purchase!
www.cluthelee.com
www.cluthe.com
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt2
-EV 8/14/93
I know a place for sale in Shitstain, MA.
Or Pisstain.
(and the answer is no, I would not take up residence in the land o’jizz!)
if you haven't give it a listen.
https://www.cbsnews.com/news/yuval-noah-harari-sapiens-60-minutes-2021-10-31/
There are no kings inside the gates of eden
The use of DNA to better a company rather than the person you obtained the info from is criminal but most people openly just give their dna away.
There is an add for Cologuard which is a DNA harvesting, non invasive colon screening kit. Sounds great right? Wrong. It's not nearly effective and you just signed off your DNA so they can profit.
All these companies like 23&Me are really fleecing the people.
Thoughts?
There are no kings inside the gates of eden
Anyone else notice the explosion of cookies on just about every website you visit nowadays, some won’t grant you access if you don’t accept. Can’t wait to get rid of my phone.
Libtardaplorable©. And proud of it.
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