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People are purchasing houses. They are bringing their savings to the closings as the house will not appraise to what they are offering... :oops: I'm sorry... I don't understand this concept. I don't think I ever will. You are agreeing to start thousands of dollars UPSIDE DOWN! wtf?
The same mentality as paying more than something is worth at an auction.
 

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I never understood the hood rich mentality
I noah couple

They have all the cool kids stuff cause the bank said they could afford the stuff

Only issue they forgot about was that it costs a bit of coin to go use the cool stuff.

No savings... no retirement... but somehow they always talk about "when we retire were gunna" :rolleyes:
 

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People are purchasing houses. They are bringing their savings to the closings as the house will not appraise to what they are offering... :oops: I'm sorry... I don't understand this concept. I don't think I ever will. You are agreeing to start thousands of dollars UPSIDE DOWN! wtf?

Why are the banks giving money to people that have no business buying the items that they are purchasing but "the bank approved me" in their minds means that they can afford it...

It is all falling in line again... I remember this very well from 15 years ago
Yes and yes

Realtor gave my son an address for a listing so we drove by. Asking $145, they accepted an offer for $195 before they could even look at it. $145 would have been high. $195 is just flat out stupid.

Just looked up the sale history. Sold for $40,900 in 2011. Looks like a foreclosure.
 

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I noah couple

They have all the cool kids stuff cause the bank said they could afford the stuff

Only issue they forgot about was that it costs a bit of coin to go use the cool stuff.

No savings... no retirement... but somehow they always talk about "when we retire were gunna" :rolleyes:
Be greeters at Walmart.
Finished it for you.
 

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People are purchasing houses. They are bringing their savings to the closings as the house will not appraise to what they are offering... :oops: I'm sorry... I don't understand this concept. I don't think I ever will. You are agreeing to start thousands of dollars UPSIDE DOWN! wtf?

Why are the banks giving money to people that have no business buying the items that they are purchasing but "the bank approved me" in their minds means that they can afford it...

It is all falling in line again... I remember this very well from 15 years ago
Exactly. I'm sure Congress will pass the upside down act shortly after the start of the recession and bail all of those people out with our tax dollars…or their printing presses.
 

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Yes and yes

Realtor gave my son an address for a listing so we drove by. Asking $145, they accepted an offer for $195 before they could even look at it. $145 would have been high. $195 is just flat out stupid.

Just looked up the sale history. Sold for $40,900 in 2011. Looks like a foreclosure.
Got a ranch in our neighborhood, it's pending already after a week... Listed at 420k... It's nice, but nothing special... Been trying to get her to sell everything now...
 

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Discussion Starter · #52 ·
Why are the banks giving money to people that have no business buying the items that they are purchasing but "the bank approved me" in their minds means that they can afford it...
Eggsactly.... I'm fretting over signing up for a $500 pickup payment for 4yrs and I have no debt.
I see the $500 not being set aside for later and gaining interest.
 

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Our fleet is mostly paid for-thankfully-and we’ve decided to not get into a bidding war for employees. The ones we have are great. I‘ll hire quality all day long, but not overpaying. I’ll keep investing in The good people I have. Within 12 months we will be business debt free minus a mortgage which is being paid ahead And has $$ socked away for a reserve.

What I don’t get is so far no one that is a serious client of mine is considering turning the tap off. Some are starting to consider cheaper build alternatives, but no one is making a red line.

Might be me, but I think its 2 years off or so. I think it’ll take a year for the customers to wake up and consider maybe it isn’t the best time to spend all you have. Then a part year of denial, part year of oh crap then it hits the fan.

One good thing about snow is it always hits. That kept me going in 2007-2010 when I was a brand new business owner.
 

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Yes and yes

Realtor gave my son an address for a listing so we drove by. Asking $145, they accepted an offer for $195 before they could even look at it. $145 would have been high. $195 is just flat out stupid.

Just looked up the sale history. Sold for $40,900 in 2011. Looks like a foreclosure.
Take a stroll through zillow for our area. Prices are outta sight. Under 200k is a fantasy.
 

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Take a stroll through zillow for our area. Prices are outta sight. Under 200k is a fantasy.
Same here, although realtor.com has been better for me than Zillow, if you find a house under 200 here, it's either get torn down, or you're doing some Major repairs.
 

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Same here. My house gained 60k in equity the last two years. Wish I had found/purchased my dream property and built pre Covid. Would have been sweet now.

mom waiting for the crash to buy now.
 

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Take a stroll through zillow for our area. Prices are outta sight. Under 200k is a fantasy.
It's like that in a lot of areas…some worse than others across the country…my moms place (and everything around her) in Florida has just about doubled in price within the last 2 years….all of the properties my wife and I own are up about 25% (or more) from what they were prior….stupid, really…..it would be a great time to sell everything, if you were in that position…my wife mentioned it a few time lately, but I told her were in it for the long run, then showed her the math on our rental income vs selling everything, over the course of only the next 10-15years….she quickly realized it wasn't the better route.
 

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People are purchasing houses. They are bringing their savings to the closings as the house will not appraise to what they are offering... :oops: I'm sorry... I don't understand this concept. I don't think I ever will. You are agreeing to start thousands of dollars UPSIDE DOWN! wtf?

Why are the banks giving money to people that have no business buying the items that they are purchasing but "the bank approved me" in their minds means that they can afford it...

It is all falling in line again... I remember this very well from 15 years ago
The municipality and county plus realty companies and banks and title and mortgage corps are purposely trying to bleed the new homeowners and rental property owners here until they all lose out on their investments.

We own and rent a bunch of homes and duplexes and quadplexes. This year out of nowhere the city and county and banks scheemed up their little calculators and decided our duplexes and quadplexes all must be worth, I sh1t you not, double what they were worth last year. Um....okay(not really okay), but now I am supposed to fork over 100 grand more to their tax till per year? WHAT THE FOOK? Where in the hell do these corrupt absolute deviant pirates and thieves think anybody is going to just wave a wand and sprinkle fairy dust and !POOF! just pull 100k+ out of thin air to pay their scam?

We have realtors and crazy people coming out of the woodwork trying ro make offers to buy our joints, which have never been for sale. Some freaks with Berkshire Hathaway and Re/max have been hounding us.

We're seeing the "hood rich/house poor" owners 450-900k houses fly up for sale all over(cause they are making a killing if they were'nt underwater) from the massive jump in thier home prices. And alot of the buyers of these homes now this year seem to be from California, New York and Washington state.

Dear god lord help us.

We are a month into fighting the county and municipality over this BS. I ain't paying their fraudulent, absolute gang tactic overinflation of our zero debt paid for properties values, just because "they said so".

The powers that be stole over 10 million homes from people since 2008(wether or not you think people deserved them or not), looks like the next crash the powers that be want 30+ million more homes. See the pattern here fellas?

I apologize for the pissed off rant, but seeing you fellas encountering all the same types of situations and ordeals all around us is like watching the gargantuan powderkeg fuse burning down to its last centimeter before the bomb goes off.

We're all in this together. What say you guys? What shall we do?
 

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By the way, it is not about "profit" or realizing future "profits". It is about the here and now. All people in America. The next 50 million renters/rental homeowners and regular homeowners who get scammed this time I am pretty sure are going tip the scales and break the proverbial camels back. Things are going to get unprecedentidly ugly this time around. Please stop and think before you jump for joy because your home or rental has been massively overinflated and all you see is "profits".
 
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