What buyers don't seem to understand: You are buying an asset not a monthly payment... Too many buyers are buying payments. What do you think will happen to that payment when interest rates go up and you try to sell that house to another payment buyer? That $3000 monthly payment will be $6000 to the next buyer when you try to sell. We are in a serious bubble here. As long as you are financially unsophisticated you can be herded by the real estate pros. At some point a lemming will come out of the trance and realize that the lemming in front of him has succumbed to gravity.
Silicon Valley Real Estate Bubble
By bubblepop Follow Wed, 20 Jun 2012, 5:01am 520 views 1 comment
In Sunnyvale CA 94086
Watch (1) Share
Quote
Permalink Like Dislike Most Liked Comment
Sort by time instead
|
bubblepop is moderator of this thread. |
Follow
Befriend (28)
182 threads
4,620 comments
Premium
bubblepop says
It's all been designed to game people into complete financial oblivion to the benefit of members of a criminal class. The analogy of a maternity hospital run by vampires has the virtues of precision and the implication of fatality to family interests.
Call me a marxist hooligan but a home mortgage should be 50% down, prime+ and held by the originator for its full term. Anything else is just a financial pipe bomb invented by industry for their own profit. When the FBI finds that 30% of folks who got hung with sub-prime notes qualified for the plain vanilla [see above], you know it's time to take the burglarious tools out of the hands of the financial crimes artisans.