Essential Economics for Politicians

messy said:
I don’t know any individuals who do residential real estate lending. Weird concept. Again, you should try dealing with real life. Pretend you’re someone with money to invest (I know it’s a stretch)...and nobody is asking you to be their mortgage co....because they’re not. Now what would you do?
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You're in a different cocoon. By choice. And that's fine. That's why you don't know any private lenders.
 
Torros said:
You really are ignorant. It was just not one period, just one I used as an example.

Do you recall the 70s and early 80s? Do you recall 18% mortages? How much of a profit would you be making if you sold your home three years after you purchased it?

Kinda funny how you are presenting yourself. All the crying your party does about the 2% and you are probably in the 1%. You do realize that most cannot do what you and that many people have lost their asses in real estate.
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How did they lose their asses in real estate? Predatory lending practices that Republicans don’t want to curb? Teaser rates that they get duped into taking by the banks?
 
messy said:
How did they lose their asses in real estate? Predatory lending practices that Republicans don’t want to curb? Teaser rates that they get duped into taking by the banks?
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When you answer the questions I posed you will find your answer. And please try to stay on point without going off the rails. What do teaser rates have to do with a 17% interest rate back in the late 70s?

Do the math and then let me know how well your investment would have worked out for you back then.
 
Torros said:
When you answer the questions I posed you will find your answer. And please try to stay on point without going off the rails. What do teaser rates have to do with a 17% interest rate back in the late 70s?

Do the math and then let me know how well your investment would have worked out for you back then.
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Why do you lick these brief little eras when things went “off the rails?” Why would you buy a house at a 17% mortgage? Try to make sense.
 
Torros said:
When you answer the questions I posed you will find your answer. And please try to stay on point without going off the rails. What do teaser rates have to do with a 17% interest rate back in the late 70s?

Do the math and then let me know how well your investment would have worked out for you back then.
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In the 70’s we werenʻt subsidizing debt like we are now. Not surprising that messy finds private lending a weird concept when in the 70’s, if you were a saver then you were easily a lender.
 
Bruddah IZ said:
Especially if youʻre the lender. They get paid every month by the borrower who also buys default insurance (PMI) for the lender as a part of their monthly payment. Does your asset do that?
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Once again you don’t understand. The lender is an institution. The buyer isn’t. Your only choice is to be a buyer. Or not, so stay poor while you read your backwards-ass economics analyses. Try actually doing things.
 
Torros said:
When you answer the questions I posed you will find your answer. And please try to stay on point without going off the rails. What do teaser rates have to do with a 17% interest rate back in the late 70s?

Do the math and then let me know how well your investment would have worked out for you back then.
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I bought my first house in Poway in 1976 for $42,000. I sold it in 1993 for $160,000. When we first moved in, we hadx beeen paying $120/month rent for a 2-bedroom place, and our house payments were about $400 (including compulsory payments to an escrow account for insurance and property tax).
 
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