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Started By
Message
The debt-to-income ratio for all homebuyers just hit 40% for the first time in history
Posted on 9/11/23 at 7:28 am
Posted on 9/11/23 at 7:28 am
Even in the 2008 financial crisis, this ratio peaked at ~39%.
This comes as total household debt just hit a record $17.1 trillion, credit card debt crossed $1 trillion for the first time ever, the outstanding federal student loan balance is $1.645 trillion and student loan payments are set to resume in October.
Consumers are borrowing at a record pace all while savings are declining and rates are rising.
This comes as total household debt just hit a record $17.1 trillion, credit card debt crossed $1 trillion for the first time ever, the outstanding federal student loan balance is $1.645 trillion and student loan payments are set to resume in October.
Consumers are borrowing at a record pace all while savings are declining and rates are rising.
27
Posted on 9/11/23 at 7:29 am to stout
:everything is fine meme:
Posted on 9/11/23 at 7:31 am to GetCocky11
quote:
:everything is fine meme:
As long as I can pay for 84 months on my $92K Chevy Black Widow 1500 I am fine
Posted on 9/11/23 at 7:31 am to stout
Nothing to see here folks! Bidenomics is working juuuuuuuuust fine. Trust us!
Posted on 9/11/23 at 7:32 am to stout
More useful information would be how to position the stocks
DR Horton is on a fricking tear despite this
DR Horton is on a fricking tear despite this
Posted on 9/11/23 at 7:32 am to GetCocky11
quote:
:everything is fine meme:
Posted on 9/11/23 at 7:32 am to stout
quote:
Even in the 2008 financial crisis, this ratio peaked at ~39%.
Loans were all stated income so there is no way thats actually true
Posted on 9/11/23 at 7:33 am to stout
Our dollars are worth 75% of what they were worth in January 2021. If that. This is the natural result of that.
Posted on 9/11/23 at 7:33 am to Arkapigdiesel
(no message)
This post was edited on 9/12/23 at 7:25 pm
Posted on 9/11/23 at 7:35 am to stout
Bidenomics is working exactly as planned.
Posted on 9/11/23 at 7:35 am to SDVTiger
quote:
Loans were all stated income so there is no way thats actually true
Not all loans were stated but I get your point
Don't forget there were also loans allowing you to borrow 110% against the homes value
Sure am glad we don't allow that anymore
Oh wait...VA and FHA do allow that on rehab loans
Posted on 9/11/23 at 7:37 am to stout
quote:
Oh wait...VA and FHA do allow that on rehab loans
I mean not really. They allow up to the lending limit
And fhas ratios have been 46.99/56% for a long time now
Posted on 9/11/23 at 7:39 am to stout
The greatest timeline
Posted on 9/11/23 at 7:40 am to stout
The upcoming collapse is what the democrats want. It's going to wipe out the middle class.
Posted on 9/11/23 at 7:41 am to bad93ex
At least the POTUS enjoys pudding and ice cream on a regular basis.
Posted on 9/11/23 at 7:41 am to kywildcatfanone
quote:
The upcoming collapse is what the democrats want. It's going to wipe out the middle class.
Don't kid yourself, they all want it.
Posted on 9/11/23 at 7:42 am to Rebel
quote:
Bidenomics is working exactly as planned.
one of our OT Centrists will be along shortly to explain economics to you.
Posted on 9/11/23 at 7:43 am to SW2SCLA
quote:
American Revolution: Redux
Coming soon...
I agree. It's coming and sooner than most are thinking. I wish I knew what it was going to look like.
Posted on 9/11/23 at 7:43 am to stout
They’ll have to lower interest rates to keep the system from collapsing.
Posted on 9/11/23 at 7:50 am to SDVTiger
quote:
I mean not really. They allow up to the lending limit
They allow you to borrow up to 110% of the home's projected remodeled value with only 3.5% down.
They still have stated income loans too. I know this because it was offered to me.
There is also a loan that now allows everyone living in the household to be counted in the DTI calculations whether they are on the mortgage or not. They brought this back a few years ago.
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