Posted on 07/20/2023 5:56:19 AM PDT by millenial4freedom
“””they’ve already concluded that these high mortgage payments will be “short-lived,” and they’ll simply refinance to a lower payment once mortgage rates, presumably, come down.”””
For those of us who have been around for a few decades, today’s 6.9% mortgage interest rate would have been a steal during the 50 years from 1960 to 2010.
Yep.
I remember watching his special and he trashed some Christians and everyone clapped. Then he trashed PC campus liberals and it was low level nervous laughter.
does the title say 7k? i’d grab that up 2.
It’s part of the foundation of Stoicism.
It’s tax payers money. It’s not like they worked for it
“””They’re in the DC area; they probably “work for” YOU. (And me.)”””
I would slightly alter your statement to read that these people are paid by the taxpayers to ‘work against’ you. And me.
Bill Hicks was another liberal comedian I could still watch and laugh with.
You can’t say that about most of these hack “comedians” today.
Here in Kentucky the government expresses property taxes in the form of per $100 of property value rather than per $1,000. So when they talk about a rate increase it looks pretty inconsequential because people are idiots. And I know darn well that’s exactly why they do it that way.
Yup. I hear “well I can always refinance it!”
ya, you are buying a 5 year old Hyundai with a 500 credit score. NO ONE is going to refinance it, you are lucky anyone is financing it. You sure you don’t want to look at a car you can pay cash for?
And when they all default, who do you think will foot the bill? The taxpayer of course.
>> I would slightly alter your statement to read that these people are paid by the taxpayers to ‘work against’
LOL! Yep, exactly, that’s why I put “work for” in scare quotes.
I like when Hicks was talking about reading and Waffle House.
They were creative and intelligent at least.
Today is just trash and hyperventilating bitches.
Or when cupcake gets pregnant or decides to divorce and leaves hubby with all of the debt.
“””Here in Kentucky the government expresses property taxes in the form of per $100 of property value rather than per $1,000. So when they talk about a rate increase it looks pretty inconsequential because people are idiots”””
Local Governments across the USA are loving the surge in real estate prices. Houses that had a tax value of $200,000 in 2010 now have a tax value of $500,000 today.
And the tax rate of 1% remained the same.
“The call I just had was a typical area household. One person makes $150,000, the other makes $120,000. So $270,000 total and they said a payment goal of $7,000. I’m still not used to hearing people say that out loud,”
That’s $84,000 out of $270,000, or about 31% of their income.
To pay $84,000 a year in order to get $270,000 a year is a pretty swell deal.
Areas like metro DC have pretty premium jobs and one should expect to have to pay premium housing prices in areas that have lots of premium jobs.
I think it’s much worse today, back in the 70s credit cards were not that big of a thing and very few people had multiple credit cards, now if you can walk and chew gum at the same time, you can get a credit card.
My wife spent her entire working career as a bankruptcy attorney, the #1 reason people filed for bankruptcy was over reliance on credit cards, people so long as they could make the monthly minimum payment just kept spending money.
Because the US economy is primarily built on consumer spending the use of credit is extremely important to that, which ultimately lends itself to people misunderstanding credit.
“a 500 credit score” — wow, do they get 30% rates?
“I think it’s much worse today”
You raise a good point. In those years, it was not easy to over-extend yourself on easy credit. The big spender spent all of his income, but (to my knowledge) didn’t go way into debt to fund his lavish lifestyle. These days, you can get ten credit card offers per week in your mailbox and all you need is a pulse to get one.
I never met a $7,000 mortgage I didn’t like!
To top that off, many percentage rates are raised because “...it has been (insert number) of years since last rate hike”. Ridiculous 🤯
They say this As if tax percentages need to be raised even many years! And people believe it!!!!!
🤬🤬🤬🤬🤬🤬
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