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“Housing is a right” demystifying buying the block & the immediate housing crisis

Change could happen…eh maybe in two more, three more years though. Not bad in the grand scheme of time, but it’s gonna take a lot more literacy and ACTIVISM

Lots of the housing market is also being purchased by outside foreign investors with major money and no regards too lol.

It’s crazy how we’ve evolved as a society I both love and loathe it at times. Back in the gap, ppl were legit fistfighting and shooting at times when stuff wasn’t going well, like when those veterans tried running for office in the South back in the 1800s…through bloodshed we often see remission, you can’t kill a person’s ambition unless you kill the person. Idk, I’m rambling because it’s just more and more great discussions, but there’s just too many ppl. Too many ideologies. No real way to unify for a major constructive good cause.

America is cool but there’s just too many different ppl at the freakin dinner table nowadays lmao. It’s the problem with the ratio of teachers to students in schooling, on a sociopolitical level
 
Old Man Cain said:
I sold my old house to Zillow. I paid 129k for the house and sold it to them for 295k. Lol shout out to them for that quick lick.


But


They're buying up everything and is driving prices up way over then it should be. They're either going to make a lot of money with what they're doing or go down as the biggest blunders ever
Click to expand...
Let me hold something
 
Old Man Cain said:
I sold my old house to Zillow. I paid 129k for the house and sold it to them for 295k. Lol shout out to them for that quick lick.


But


They're buying up everything and is driving prices up way over then it should be. They're either going to make a lot of money with what they're doing or go down as the biggest blunders ever
Click to expand...

"Those who fail to learn from history are condemned to repeat it"

Zillow clearly didn't learn from the last housing crisis and, truthfully, it's too late for them to do anything about it. We're deep into that investors-selling-to-investors phase that came right before the crash. It's just a matter of time at this point.
 
konceptjones said:
FHA down payment minimum is 3.5% with a 580 or better mid score, 10% if your score is between 500-579 so there's ways to get into a home with shit-tier credit and a lower down payment.
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This is definitely true. I will say though that getting the loan isn't always the biggest barrier. A lot of the time it's that monthly payment. Sure they'll give you a loan with a bad credit rating but you're going to have a high interest rate and if you don't have that 20% you gotta pay that mortgage insurance. That means hundreds of extra dollars every month, which could make a difference in determining whether you can actually afford the house or not.
 
So my credit score at least on Experian is like 649 and my mom was telling me about some first time buyers thing the government set up. Don’t got no debt besides a student loan and that under 5,000. My score just in the fair zone
 
The Lonious Monk said:
This is definitely true. I will say though that getting the loan isn't always the biggest barrier. A lot of the time it's that monthly payment. Sure they'll give you a loan with a bad credit rating but you're going to have a high interest rate and if you don't have that 20% you gotta pay that mortgage insurance. That means hundreds of extra dollars every month, which could make a difference in determining whether you can actually afford the house or not.
Click to expand...

FHA 30 year interest rates are usually pretty close to what a 30 year conventional is.
 
konceptjones said:
FHA 30 year interest rates are usually pretty close to what a 30 year conventional is.
Click to expand...

They are close, but the rates and mortgage insurance are definitely different. I'm buying a house now and getting the conventional over the FHA could mean almost a $200 a month reduction in my mortgage payment.
 
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