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Mark_LA
2010 Sep 1, 2:54pm
So how would you guys play this one out. I’m eventually looking at getting property in Brazil. Probably for rental purposes right now. Their mortgages are so expensive that prices are kept semi-down. 12% a year keeps + inflation adjusted keeps mortgages down.
Wow, no wonder there's such horrendous income distribution in Brazil. There's no way for the poor to climb up the social ladder, and there's virtually no way for the rich to fall off a cliff there. The economic system there is clearly rigged to maximize the profits of the cash-rich, and to oppress the poor with high interest rates, and nearly impossible to obtain mortgages for anyone except those with lawyers, bankers, and real estate agents in their family.
The only thing that would make it even better than your serfs(renters) having their cell phones cut off when they don't pay you the rent on time is if they actually still had a debtor's prison. How dare the lower classes become unemployed all of a sudden and choose to feed their children instead of honoring their 3 year indentured servant contract(lease) with their master (landlord). Hell no, cut off their cell phone immediately!!!
The serfs on the left pay rent to those on the right:
Uh no one is going in there to collect rent, to buy or rent anything out. I'm talking about the other side, that is where I would be buying, and renting out. That would be the side with the individual pools.
And the guarantor is the one who gets nailed. He has a minimum of 2 properties and gets everything denied as well. High interest rates are due to inflation, and actually slow the economy down right now.
Social ladder comes from staying in school, and unfortunately that doesn't always happen. They're paying parents to keep their kids in school now. The whole middle class is definitely growing! Florinopolis has an amazing economy, they've taken education seriously and you won't see beggars around. I was fairly surprised, my mother-in-law who is heavily vested in education was explaining all of the programs they've started and the effects they have had on the peoples lives.
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Trustee Sale at the courthouse on 05/07/10 at 10:00AM located at 190 N. Market Street in San Jose, CA.
First loan is $335k
Second loan is $150k.
This 1,375 square foot townhome has 3 beds, 2.5 baths, 2 car garage. I believe the HOA is $145/month. You might be able to pick this up for just above $335k. Zillow's estimate is $418k. Instant equity. This townhome is relatively young and has high ceilings. Nice neighborhood, next to park and tennis courts. The neighbor just paid a 1,165 square foot townhome with 2 beds and 2.5 baths for $390k. The catch is you have to show up at the courthouse with cashier's checks. Basically, you have to pay cash for it.
Sorry for the short notice. I will give more notice next time.
Good luck.