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Message

re: 30-year fixed-rate mortgages reach 7.15%

Posted on 11/10/22 at 9:23 am to
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
93232 posts
Posted on 11/10/22 at 9:23 am to
Mr. “It isn’t even 7.15%”

They arent
Unless you are putting 5% down with a 620 fico w/ Conv

I mean are you admitting you believe the MSM?

Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:25 am to
quote:

They arent



quote:

Unless

Que?


So…. Are they….. or aren’t they?

quote:

mean are you admitting you believe the MSM?


Are they.

Or aren’t they.

You answered your own question above. Poor AIDstiger.
This post was edited on 11/10/22 at 9:27 am
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
93232 posts
Posted on 11/10/22 at 9:29 am to
They are for shitty borrowrrs who arent buying

They are not for good borrowers

So no they are not 7.15% for ppl trying to buy a home

You think Blackrock owns every single family home in the US and no one is buying

You should just sit this one out clown
Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:31 am to
quote:

They are for shitty borrowrrs who arent buying




They aren’t for the people who we have priced out!!!!

quote:

So no they are not 7.15% for ppl trying to buy a home


so the people who were looking for a house a year ago and have no been priced out… they are no longer trying to buy a home?

quote:

You think Blackrock owns every single family home in the US and no one is buying


Link? I said black rock is the largest single family home purchaser. Them and other firms like them.

I said they are buying homes above market value.

These are both factual statements :lol:

quote:

You should just sit this one out clown


Don’t you have some dick to shove up your arse, AIDstiger?
Posted by MrLSU
Yellowstone, Val d'isere
Member since Jan 2004
28987 posts
Posted on 11/10/22 at 9:32 am to
quote:

And plenty more firms (blackrock) buying homes at above market price to rent out.


Blackrock also owns Finance of America. FOA who was one of the largest lenders in the US just shut down their entire residential lending operations last week and fired everyone in the origination and wholesale channels.

This should give you a good glimpse of where interest rates are headed and why 9-10% rates by the end of January will be a reality. Blackrock does not just shut down a company with over 5500 employees unless it knows interest rates will continue to rise for the foreseable future.
Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:33 am to
But but but AIDstiger said I should sit this one out
Posted by MrLSU
Yellowstone, Val d'isere
Member since Jan 2004
28987 posts
Posted on 11/10/22 at 9:34 am to
quote:

I said black rock is the largest single family home purchaser.


The total institutional ownership of single family homes by BlackRock, Apollo, etc. is only around 1-1.3% of all single family homes in the United States.
Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:36 am to
quote:

is only around 1-1.3% of all single family homes in the United States.


How many homes is that, again? Add in their umbrella assets via lenders and their real ownership rate (you know, since the person who loaned you the money to buy that home really owns the house til you pay it off) is MUCH higher
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
93232 posts
Posted on 11/10/22 at 9:36 am to
quote:

Blackrock also owns Finance of America. FOA who was one of the largest lenders in the US just shut down their entire residential lending operations last week and fired everyone in the origination and wholesale channels.


But they are buying every home in America!!

quote:

This should give you a good glimpse of where interest rates are headed and why 9-10% rates by the end of January will be a reality


Refis are down 90% as of now. Of course they shut it down and is not an indicator of where rates are going



quote:

The total institutional ownership of single family homes by BlackRock, Apollo, etc. is only around 1-1.3% of all single family homes in the United States.



Yes its why beerjeep need to just sit this out
This post was edited on 11/10/22 at 9:38 am
Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:38 am to
quote:

But they are buying every home in America!!


Link? You can keep repeating lies, AIDstiger… but it just makes you look foolish.
Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:39 am to
quote:

Yes its why beerjeep need to just sit this out

Again, for the retard in the back.

quote:

Add in their umbrella assets via lenders and their real ownership rate (you know, since the person who loaned you the money to buy that home really owns the house til you pay it off) is MUCH higher
Posted by MrLSU
Yellowstone, Val d'isere
Member since Jan 2004
28987 posts
Posted on 11/10/22 at 9:44 am to
quote:

How many homes is that, again?


Around 115k single family residential homes across the United States for all institutional investors. Of that number BlackRock owns around 80k of the 115k.
Posted by beerJeep
Louisiana
Member since Nov 2016
37695 posts
Posted on 11/10/22 at 9:48 am to
And one would be justified to say that the vast majority of this is new construction? And again, their real home ownership level is much higher when you account for their umbrella corps and money lenders.

Like I said, the “homeowner” doesn’t own shite until he pays off the bank. So there are plenty plenty more homes that they shadow own until they are paid off.

Black rocks reach is immense and penetrates every fiber of the modern world.
Posted by NM Tiger 67
Member since Oct 2022
288 posts
Posted on 11/10/22 at 9:50 am to
quote:

ts not really that high And im going under 5s end of Q1 on my predictions


what a putz
Meh. I expect approaching 5ish
Posted by MrLSU
Yellowstone, Val d'isere
Member since Jan 2004
28987 posts
Posted on 11/10/22 at 9:52 am to
quote:

Refis are down 90% as of now. Of course they shut it down and is not an indicator of where rates are going


Refis are actually down more than 90% now. Its probably around 96-97% YoY by end of November. FOA though actually had a rather substantial purchase origination business (20-25%) in both the commercial and residential spaces but it was just under the radar according to their SEC filings.
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
93232 posts
Posted on 11/10/22 at 9:55 am to
quote:

FOA


They just exited wholesale

They didnt fold
Wait till rates drop and they get back into the game
Posted by MrLSU
Yellowstone, Val d'isere
Member since Jan 2004
28987 posts
Posted on 11/10/22 at 9:56 am to
quote:

And one would be justified to say that the vast majority of this is new construction? And again, their real home ownership level is much higher when you account for their umbrella corps and money lenders.


Actually No, the vast majority is not new construction. In fact a number of the major national homebuilders have put restriction into their HOA policies recently that their new construction properties can't be utilized as rentals. The ones where they were buying new construction single family homes were isolated to Phoenix, Dallas, Houston, Charlotte, and a handful of other fast growing MSAs.
Posted by MrLSU
Yellowstone, Val d'isere
Member since Jan 2004
28987 posts
Posted on 11/10/22 at 11:17 am to
quote:

They just exited wholesale

They didnt fold
Wait till rates drop and they get back into the game


They are exiting from the entire game and selling off the associated companies they haven't shut down yet.
Posted by Azkiger
Member since Nov 2016
26910 posts
Posted on 11/10/22 at 11:19 am to
quote:

Its not really that high



And gang rapes aren't that bad.

What was it a 9 months ago?
Posted by Big Scrub TX
Member since Dec 2013
38412 posts
Posted on 11/10/22 at 11:22 am to
quote:

Biden has now killed the real estate market as well. Equity is being wiped out so you not only lose real money from your 401K but now you also lose net worth from depreciating prices.

The attack on individual homeownership will only get worse. Everything this administration does is on purpose and it's part of their plan.

Remember how Obama tried to kill values by making every new development set aside a portion for low-income housing?

I am 100% Democrats do not want you to use your home as a wealth-building tool so you will be less independent.

This was ridiculous when you posted the same thing on the OT also.

Literally only a year ago, the hand-wringing was about ZIRP and how it was crazily driving up RE values. There were many threads on these boards about how values were nuts and people were stupid to buy - especially with things like lumber being at all time highs (something you yourself bitched plenty about) on top of the cheap rates.

Now that rates have become way more normalized (and lumber is back to pre-pandemic levels) you are decrying that as well?

This is dishonest drivel that I'd like to say is beneath you, but I'm not so sure.
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