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Message
re: 7.7% of Mortgages Now in Forbearance
Posted on 5/9/20 at 11:51 am to rocket31
Posted on 5/9/20 at 11:51 am to rocket31
quote:
whats the answer here?
Negative interest rates. Punish banks for not lending and allow people to refi to much lower payments. This is about the only way to resolve this without direct UBI.
The next 2-5 years are going to suck arse for the housing market.
1
Posted on 5/9/20 at 11:56 am to stout
So, in other words we took a situation that was going to be bad, made it SIGNIFICANTLY worse, and it may end up having a housing crisis worse than 2007 piled on top of it.
Great.
Amazing.
Well done, everyone.
You did it.
Couldn’t have asked for a better job from our citizens and politicians.
Great.
Amazing.
Well done, everyone.
You did it.
Couldn’t have asked for a better job from our citizens and politicians.
Posted on 5/9/20 at 11:56 am to Tiguar
quote:
Negative interest rates. Punish banks for not lending and allow people to refi to much lower payments. This is about the only way to resolve this without direct UBI.
Inflation train here we come!
Posted on 5/9/20 at 11:57 am to stout
Inflation isn't bad when you're actively combating deflation 
but you really gotta watch out for "overshooting" and turning into Zimbabwe
but you really gotta watch out for "overshooting" and turning into Zimbabwe
Posted on 5/9/20 at 11:58 am to Tiguar
quote:
but you really gotta watch out for "overshooting" and turning into Zimbabwe
Even though it will be the equivalent of $5 in today's money, I can't wait to carry million dollar bills around.
Posted on 5/9/20 at 11:59 am to stout
quote:
Worse than '07-'08
Not a chance
Posted on 5/9/20 at 11:59 am to Scruffy
quote:
So, in other words we took a situation that was going to be bad, made it SIGNIFICANTLY worse, and it may end up having a housing crisis worse than 2007 piled on top of it.
But we need to stay locked down for like 90 more days.
Posted on 5/9/20 at 11:59 am to stout
whose face do we put on it?
Posted on 5/9/20 at 12:00 pm to stout
Tell me when I should buy some properties
Posted on 5/9/20 at 12:00 pm to Tiguar
Pelosi
Posted on 5/9/20 at 12:01 pm to THRILLHO
quote:
A bartender/waiter with a $2k mortgage?
I know a 23 year old bartender with over $30,000 in her checking account
It's a matter of finding the right spot and being frugal
She has her own place and doesn't live with her parents or any roommates also
Posted on 5/9/20 at 12:03 pm to Powerman
quote:
I know a 23 year old bartender with over $30,000 in her checking account
Waiters at say a high-end steak house pulling in $100K is pretty common in some cities. I know the ones at Capital Grille in Vegas kill it.
Posted on 5/9/20 at 12:05 pm to stout
sure hope Gangraping our economy was worth it 
Posted on 5/9/20 at 12:18 pm to Lawyered
quote:Totally worth it!
sure hope Gangraping our economy was worth it
Like, super totally worth the damage.
Posted on 5/9/20 at 12:23 pm to Scruffy
Burned down the house to kill a spider
Posted on 5/9/20 at 12:38 pm to stout
My husband works for a loan servicer. He is working out our home currently. Nearly every call is related to forbearance. I asked him how often he dealt with these calls in the past. He said maybe 2 a month pre COVID, now it's about ten a day. We are in trouble as a nation.
Posted on 5/9/20 at 12:40 pm to latxwoman
quote:And we did it to ourselves.
We are in trouble as a nation.
Our citizens, in a blind panic, marched right to this cliff and threw themselves over, while telling the government “thank you”.
Posted on 5/9/20 at 12:41 pm to Powerman
quote:
I know a 23 year old bartender with over $30,000 in her checking account
Pics?
Posted on 5/9/20 at 12:43 pm to Scruffy
quote:
And we did it to ourselves.
Our citizens, in a blind panic, marched right to this cliff and threw themselves over, while telling the government “thank you”.
You saw my pediatric vaccine thread?
Posted on 5/9/20 at 12:50 pm to stout
quote:
That has nothing to do with my subject. No one is predicting banks will go under like Lehman Brothers. This is simply about the number of people facing default.
I believe the banks will be more flexible, since they are in a position that allow them to work with borrowers.
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