The Fed Just Started a MORTGAGE DISASTER in the 2022 Housing Market

[sureshkonda]

2 minutes ago, Fish said:

This is a small calculation I did 

one of my colleague got house for $400,000 with 3% down in late 2020 abd interest rate was 2.6%….they pay 2600 mortgage/month(plus house tax)…now it appreciated to $600,000….if I had to buy same house, I need to pay monthly mortgage more than $3500 plus house tax….now renting costs me around $1800 for a 2 bed apartment in that area

even if I chose to build equity and buy 600K property….I will build equity around 15K(49%) per year plus house tax and renting costs me roughly $22K…agree that renting is expensive but I shouldn’t forget that I am buying house at 50% appreciated value and if in case market is unstable, may be I have some visa issues…if I want to sell and if it is buyers market then I will be in loss…agree that I would have enjoyed being in bigger home but I am happy in my 2 bedroom apartment too

 

house prices peragatam thappa thaggatam undadu...example chepthanu okati..ma friend 2009 year 2000 sq ft property ki literally 40 biddings vachinayi.  bidders will never go away. They are sitting with piles of cash

[Fish]

2 minutes ago, sureshkonda said:

house prices peragatam thappa thaggatam undadu...example chepthanu okati..ma friend 2009 year 2000 sq ft property ki literally 40 biddings vachinayi.  bidders will never go away. They are sitting with piles of cash

After mortgage interest rates increased?

thats one of other reasons I didn’t want to buy home now because of this bidding war….I have less choice now

[Swatkat]

6 minutes ago, Fish said:

This is a small calculation I did 

one of my colleague got house for $400,000 with 3% down in late 2020 abd interest rate was 2.6%….they pay 2600 mortgage/month(plus house tax)…now it appreciated to $600,000….if I had to buy same house, I need to pay monthly mortgage more than $3500 plus house tax….now renting costs me around $1800 for a 2 bed apartment in that area

even if I chose to build equity and buy 600K property….I will build equity around 15K(49%) per year plus house tax and renting costs me roughly $22K…agree that renting is expensive but I shouldn’t forget that I am buying house at 50% appreciated value and if in case market is unstable, may be I have some visa issues…if I want to sell and if it is buyers market then I will be in loss…agree that I would have enjoyed being in bigger home but I am happy in my 2 bedroom apartment too

 

Bane calculate chesav fishu 👏. Taggithey okey 

[sureshkonda]

1 minute ago, Fish said:

After mortgage interest rates increased?

yes. rates tho sambandham lekunda kontaru cash unna vallu. There are too many flippers and investors in the market.

[Netflixmovieguz]

4 minutes ago, sureshkonda said:

yes. rates tho sambandham lekunda kontaru cash unna vallu. There are too many flippers and investors in the market.

It’s a small percentage bro. That smal percentage is not going to drive the market. When bear comes majority has to take a shelter or run away 

[Fish]

1 minute ago, sureshkonda said:

yes. rates tho sambandham lekunda kontaru cash unna vallu. There are too many flippers and investors in the market.

flippers and investors know when to back off but people like us will pay for it 

[sattipandu007]

One thing is sure whoever signed recently for a lot will have their equations up in the air. By the time they close interest rates might be 5 or even worse 6. Some builders are giving 12 months to complete. 

[Netflixmovieguz]

8 minutes ago, sattipandu007 said:

One thing is sure whoever signed recently for a lot will have their equations up in the air. By the time they close interest rates might be 5 or even worse 6. Some builders are giving 12 months to complete. 

12 months llo house value depreciate aithe ernest money kantey then pissukottamme

[Spartan]

@Fish aunty pellainda neeku

[quickgun_murugun]

4 hours ago, Spartan said:

already 4% aipoindi anna

6% pothadi soodu..

or 1990s laga 13% daka poyina no surprise.. US did this many times for inflation control in the past ! 

[Netflixmovieguz]

Just now, Netflixmovieguz said:

12 months llo house value depreciate aithe ernest money kantey then pissukottamme

It’s a circle ⭕️ 

[Netflixmovieguz]

Just now, quickgun_murugun said:

6% pothadi soodu..

or 1990s laga 13% daka poyina no surprise 

Annaa suitcase llu sadhurukomantaava?

[Spartan]

2 minutes ago, quickgun_murugun said:

6% pothadi soodu..

or 1990s laga 13% daka poyina no surprise.. US did this many times for inflation control in the past ! 

6% pote inka companies assame kada...jobs ush fatak aitai.

[chandrabhai7]

3 hours ago, sureshkonda said:

house prices peragatam thappa thaggatam undadu...example chepthanu okati..ma friend 2009 year 2000 sq ft property ki literally 40 biddings vachinayi.  bidders will never go away. They are sitting with piles of cash

Lol house prices taggatam undada. 2007 lo illu prices range ki koni areas Ee madya ne reach ayyaye Antey entha paddayo Ardam chesko 

[sattipandu007]

5 minutes ago, Netflixmovieguz said:

12 months llo house value depreciate aithe ernest money kantey then pissukottamme

Specially people who bought as investment or flipping. In my office lot of Chinese bought in Austin as investment