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Posted: 5/7/2024 10:37:24 PM EDT
  Ryan Zinke Decries Home Ownership Barriers, Floats Government Backed 50-Year Mortgages |
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Posted: 5/7/2024 10:38:09 PM EDT
[#1]
In on this civil thread about insane housing prices.
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Posted: 5/7/2024 10:39:12 PM EDT
[#2]
I think they’re already doing that in California.
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Posted: 5/7/2024 10:39:53 PM EDT
[#3]
That's not the problem.
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Posted: 5/7/2024 10:40:57 PM EDT
[#4]
Who the fuck are these guys?
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Posted: 5/7/2024 10:41:51 PM EDT
[#5]
Alex, I will take what is retard for 500.
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Posted: 5/7/2024 10:43:58 PM EDT
[#6]
Good grief
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Posted: 5/7/2024 10:44:08 PM EDT
[#7]
Sounds like more socialism from the party that is supposed to be stopping socialism.
"I'm from the government and I'm here to help." |
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USA
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Posted: 5/7/2024 10:44:34 PM EDT
[#8]
Sign me up for it, I'll probably be dead before it's halfway paid off
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Posted: 5/7/2024 10:44:35 PM EDT
[Last Edit: StaccatoC2]
[#9]
Well at this point most of them are gov backed already, the gov would bail them out if shtf, again.
I would love to see the actually % lost by banks when people loose their houses. Figure most are in their houses for a few years, are paying PMI, and the house value has gone up since they bought it. I would not be surprised if banks actually make more on foreclosures. Figure house was bought for say 300k, they put 15k down ( 2% ) and have paid off another 10-20k of it over the 5 years they have been in it. And now its worth 400k, bank may sell it fast at 350k just to get rid of it. So figure they would make an extra 20-30k. As for 50 years, I am kind of surprised they are not doing 40 years now. But they would need to adjust the interest rate, if its backed by the fed, the rate needs to be closer to what the fed actually offers. ( I am against fed backing it thou ) |
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Posted: 5/7/2024 10:45:50 PM EDT
[#10]
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CO, USA
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Posted: 5/7/2024 10:46:00 PM EDT
[#11]
That helped keep college tuition prices reasonable, let’s do it with houses too. Matter of fact why don’t we just give every new born in the US a million dollar government backed loan at birth they can use as they wish.
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Posted: 5/7/2024 10:47:56 PM EDT
[#12]
From the folks who brought you affordable college
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Posted: 5/7/2024 10:48:17 PM EDT
[#13]
Oh Jesus fuck... really.
Here come the $500,000 starter homes.... |
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Posted: 5/7/2024 10:49:08 PM EDT
[#14]
Government backed will equate to people being qualified due to their "social" and DEI credit score, and not their actual credit worthiness. In reality, a very large percentage of the mortgages will go into default and the American taxpayer will be left holding the bag.
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USA
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Posted: 5/7/2024 10:54:57 PM EDT
[Last Edit: nu3gawhat]
[#15]
Fucking morons just going to drive the price up and make people incapable of getting ahead.
We need to go the opposite direction. Make it so all of these homes cant be bought by all of these large investiment corps. Make it illegal to bail out banks/etc. Raise interest rates to drive down prices and fight inflation. Stop wasteful spending. |
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MI, USA
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Posted: 5/7/2024 10:55:09 PM EDT
[#16]
Capital firm buys congressman,
Congressman gets 50 year mortgages, Capital firm makes billions on added interest, Interest pays for the next congressman, And the cycle continues.... |
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Posted: 5/7/2024 10:59:06 PM EDT
[#17]
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Posted: 5/7/2024 11:00:52 PM EDT
[#18]
To stop inflation, cause more inflation.
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OH, USA
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Posted: 5/7/2024 11:02:01 PM EDT
[#19]
Never let a crisis go to waste
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OR, USA
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Posted: 5/7/2024 11:03:31 PM EDT
[#20]
Quote HistoryOriginally Posted By Firearmsenthusiast: Oh Jesus fuck... really. Here come the $500,000 starter homes.... Have you checked home prices lately? There are many places $500k won't get you a call back. |
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Posted: 5/7/2024 11:03:38 PM EDT
[#21]
Quote HistoryOriginally Posted By HRoark87: From the folks who brought you affordable college yes, and it all just increases prices in the long run |
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Posted: 5/7/2024 11:06:11 PM EDT
[#22]
Someone on here mentioned Generational Mortgages a few days ago. This is pretty close.
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FL, USA
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Posted: 5/7/2024 11:09:12 PM EDT
[#23]
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FL, USA
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Posted: 5/7/2024 11:15:28 PM EDT
[Last Edit: Oceans87]
[#24]
I'll take a 100 yr loan on that oceanfront mansion. Preferably with the larger payments ballooning in those last few years.
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Posted: 5/7/2024 11:16:38 PM EDT
[#25]
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NC, USA
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Posted: 5/7/2024 11:17:54 PM EDT
[#26]
Quote HistoryOriginally Posted By StaccatoC2: Well at this point most of them are gov backed already, the gov would bail them out if shtf, again. I would love to see the actually % lost by banks when people loose their houses. Figure most are in their houses for a few years, are paying PMI, and the house value has gone up since they bought it. I would not be surprised if banks actually make more on foreclosures. Figure house was bought for say 300k, they put 15k down ( 2% ) and have paid off another 10-20k of it over the 5 years they have been in it. And now its worth 400k, bank may sell it fast at 350k just to get rid of it. So figure they would make an extra 20-30k. As for 50 years, I am kind of surprised they are not doing 40 years now. But they would need to adjust the interest rate, if its backed by the fed, the rate needs to be closer to what the fed actually offers. ( I am against fed backing it thou ) Not how it works; at least in NC. I’ve bought a foreclosure for more than the bank was owed at auction. The excess funds went to the original owner. Kind of funny to have a house foreclosed on and get a check for $120k I bet. |
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Posted: 5/7/2024 11:19:25 PM EDT
[#27]
That's called renting.
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Posted: 5/7/2024 11:20:06 PM EDT
[#28]
I FUCKING LOATHE OUR POLITICIANS
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Posted: 5/7/2024 11:21:00 PM EDT
[#29]
What a great way for .Gov to be THEE landlords.
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Posted: 5/7/2024 11:22:26 PM EDT
[#30]
Quote HistoryOriginally Posted By StaccatoC2: Well at this point most of them are gov backed already, the gov would bail them out if shtf, again. I would love to see the actually % lost by banks when people loose their houses. Figure most are in their houses for a few years, are paying PMI, and the house value has gone up since they bought it. I would not be surprised if banks actually make more on foreclosures. Figure house was bought for say 300k, they put 15k down ( 2% ) and have paid off another 10-20k of it over the 5 years they have been in it. And now its worth 400k, bank may sell it fast at 350k just to get rid of it. So figure they would make an extra 20-30k. As for 50 years, I am kind of surprised they are not doing 40 years now. But they would need to adjust the interest rate, if its backed by the fed, the rate needs to be closer to what the fed actually offers. ( I am against fed backing it thou ) You should watch “The Big Short”. Most mortgages are not held by banks. They are packaged and sold to investors or to the government also known as tax payers. |
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Posted: 5/7/2024 11:29:27 PM EDT
[#31]
Quote HistoryOriginally Posted By Leisure_Shoot: I FUCKING LOATHE OUR POLITICIANS The Founders must be rolling in their graves or wondering why they bothered. OTOH they knew enough about human nature and politics not to be surprised at out sorry state. |
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Posted: 5/7/2024 11:39:26 PM EDT
[#32]
No.
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Posted: 5/7/2024 11:41:27 PM EDT
[#33]
How about the feds stop taking 1/3 my gross salary? Everything would be more affordable.
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AZ, USA
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Posted: 5/7/2024 11:41:33 PM EDT
[#34]
We're from the gov and we're here to help.
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CO, USA
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Posted: 5/7/2024 11:43:52 PM EDT
[#35]
So the next D prez can "forgive the debt to the most vulnerable" or should I say buy votes.
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NC, USA
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Posted: 5/7/2024 11:44:32 PM EDT
[#36]
What if you want to move and buy a different house?
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SGP
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Posted: 5/7/2024 11:44:33 PM EDT
[#37]
Quote HistoryOriginally Posted By ScopeScar: That's not the problem. |
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Posted: 5/7/2024 11:45:14 PM EDT
[Last Edit: Kent]
[#38]
Oh good... then we can start the whole "student loan forgiveness " bs with govt mortgages too. You KNOW that would be the next scam, 100% Like it's already happened.
Biden/Camela can't wait to start "forgiving" mortgages "student loan style" as part of their next vote-buying scheme. |
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Posted: 5/7/2024 11:48:06 PM EDT
[#39]
When fixed-rate 30 year mortgages were running 2.5% or less I'd have killed for a 50 year. Yeah my kid would be paying off the house eventually, assuming it didn't get sold after DH and I pass away, but given the rate of inflation that's free money.
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Posted: 5/7/2024 11:56:23 PM EDT
[#40]
If he means government backed like student loans then hell no. End government backed student loans.
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Posted: 5/7/2024 11:58:56 PM EDT
[#41]
Quote HistoryOriginally Posted By Firearmsenthusiast: Oh Jesus fuck... really. Here come the $500,000 starter homes.... We've already got that. |
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Posted: 5/8/2024 12:10:08 AM EDT
[#42]
Also available to noncitizens just to make it fair of course.
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Posted: 5/8/2024 12:17:32 AM EDT
[#43]
I'll be selling junk cardboard for $30 a lb soon.
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Posted: 5/8/2024 12:47:53 AM EDT
[#44]
Quote HistoryOriginally Posted By Firearmsenthusiast: Oh Jesus fuck... really. Here come the $500,000 starter homes.... That was 4 years ago. Down the road, if this gets implemented, you'll be looking at guys making $50k a year buying million dollar double wides |
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Posted: 5/8/2024 12:55:16 AM EDT
[Last Edit: DubyaB]
[#45]
Quote HistoryOriginally Posted By The_Master_Shake: That was 4 years ago. Down the road, if this gets implemented, you'll be looking at guys making $50k a year buying million dollar double wides There's lots of 300k manufactured homes out there now on owned lot. It's insane they are 120k places at best imo.. |
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Posted: 5/8/2024 1:02:00 AM EDT
[#46]
Government caused high home prices, and they can fix it.
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Posted: 5/8/2024 1:02:34 AM EDT
[#47]
Quote HistoryOriginally Posted By Wammel: So the next D prez can "forgive the debt to the most vulnerable" or should I say buy votes. Don’t not know what Fannie and Freddie already are? |
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Posted: 5/8/2024 1:03:55 AM EDT
[#48]
Quote HistoryOriginally Posted By Oceans87: I'll take a 100 yr loan on that oceanfront mansion. Preferably with the larger payments ballooning in those last few years. Did you forget about Taxes? |
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Posted: 5/8/2024 1:05:28 AM EDT
[Last Edit: The_Master_Shake]
[#49]
Quote HistoryOriginally Posted By DubyaB: There's lots of 300k manufactured homes out there now on owned lot. It's insane they are 120k places at best imo.. Yea I was being hyperbolic, but in my neck of the woods a nice manufactured home on land is gonna run ya close to a half a mill. I'm looking at buying a nice piece of land with a mountain view and putting a 300 nice cabin on it. I'll be into it over $300k when I can find the right spot |
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CT, USA
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Posted: 5/8/2024 1:10:46 AM EDT
[#50]
I knew eventually I would find a way to buy my 1000 acre dream ranch in Idaho or Montana
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