Posted on 07/20/2023 5:56:19 AM PDT by millenial4freedom
And I’ll be waiting to scoop up those properties on the cheap when they all default.
Funny.
Be more accurate to say “I can pay it back with inflated dollars in the future.”
I done can’t read good no how…
Are they stating $7K a month?
The DC market area, wealthiest zip codes in the land. Who cares what they pay. They apparently don’t.
Typo...................
Yes, I’m afraid they are.
I guess my definition of middle class is different.
It’s happening on car notes too.
Unlike real estate cars rarely appreciate and even though I warn people they still think the car will be worth more than they owe so they can just refinance it.
I assume a min down payment of 5% @ $35K or 10% @ $70K or 20% (you get the picture) wasn’t included....
“And I’ll be waiting to scoop up those properties on the cheap when they all default.”
That’s what I am looking to do on the North Carolina coastline.
I wonder if they have considered the odds of one of them losing their six figure job?
The DC metro market is totally dependent, directly or indirectly on government growing out of control.
So far that has been a good bet.
It’s ok, the baked potato in the White House will soon offer Fed mortgage forgiveness for people who over-committed.
Middle class is now $270,000? Wow! I just fell way behind
I think I’ll find a nice beachfront house and become a squatter.
Buy your wheelbarrow to haul tomorrow’s dollars round in today...before that price goes up, too!
Buckle up, folks
Yep. It wasn’t that long ago when “homebuyers take on $7,000 mortgages” meant people were borrowing $7,000 to BUY A HOUSE, not a $7,000 per MONTH mortgage PAYMENT.
The thought of a 7k/month mortgage makes my stomach do handsprings. What do these people do for a living to possibly swing that?
“people they still think the car will be worth more than they owe”
Wow. People really think that?
Of course, if you keep cars ten years like we do and pay it off in four years, that does come true. We have six years with no payments and the car is worth a lot more than the remaining debt (which is obviously zero).
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