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Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
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In Reply to: the core issue is the affordability of homes... posted by Jim Pearce on April 19, 2022 at 04:27:49:
...I haven't forgotten the "last 'round" of this. Low-interest, high prices, and "predatory" lending practices. No one has apparently learned the definition of "variable rate" and/or "equity".
Sure--we can put you into that $500K home (that will be worth $350K in a year or two) with only 10% down and a variable rate (starting at ~2%, but it will be 5% by the time the property value has plummeted). Maybe, we could even talk you into a short-term mortgage with a balloon payment that you'll need to re-finance at the end (at 4X your original rate).
We've all seen this movie before--and apparently many did not learn anything.
"And today is for sale and it's all you can afford. Buy your own admission. The whole things got you bored. Well the Lord chooses the good ones, and the bad ones use the Lord"--a very dear friend for decades Michael Stanley (Gee)--RIP
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Follow Ups
- Deja vu all over again?... - dark_dave56 04/19/2204:44:35 04/19/22 (4)
- It is that "But I want it NOW!!!!" mentality - Victor Khomenko 05:18:23 04/19/22 (3)
- Ah yes... the years of Carter, Reagan and cocaine... - dark_dave56 05:31:57 04/19/22 (2)
- Yes... Carter and dumb buyers - Victor Khomenko 05:41:48 04/19/22 (1)
- If you "work it", it "works"... - dark_dave56 05:57:02 04/19/22 (0)
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