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

[DOS_patos]

Having late bills or even accounts in collections won't prevent you from getting a house though. You can expect to get stuck with a higher interest rate and you'll probably be asked to pay off some of those outstanding accounts, but for a lot of people that would be a lot easier than having 20% down. In most states, the average cost for a house is in the 300K-4000K range. Most people don't have 60K-80K to put down upfront on top of closing costs.

Right, but the Swiss interest rate don’t change due to collections. Now you must get collections settled.....your loan is based on what you make.
Everything is very black and white.
Credit card only if you make more than 32k ch. 5 k limit
make over 100k ch...you have no limit.
Pay your rent on time for two yrs....your rent goes down at least 15%.
bunch of shit built to allow you to succeed

 

[The Lonious Monk]

Right, but the Swiss interest rate don’t change due to collections. Now you must get collections settled.....your loan is based on what you make.
Everything is very black and white.
Credit card only if you make more than 32k ch. 5 k limit
make over 100k ch...you have no limit.
Pay your rent on time for two yrs....your rent goes down at least 15%.
bunch of shit built to allow you to succeed

Yeah, aspects of that sound good, no doubt. I'm just saying that having a hard requirement for 20% down would basically disqualify 90% of Americans from ever owning a home.

 

[TheNightKing]

Right, but the Swiss interest rate don’t change due to collections. Now you must get collections settled.....your loan is based on what you make.
Everything is very black and white.
Credit card only if you make more than 32k ch. 5 k limit
make over 100k ch...you have no limit.
Pay your rent on time for two yrs....your rent goes down at least 15%.
bunch of shit built to allow you to succeed

Yeah, that sounds like the ticket. Of course America would never do any of that because there’s too much money to be made off of putting people in debt and earning interest.

 

[DOS_patos]

This is what every parent should strive for.

that’s how I feel anyway.

it’s going to take a generation to sacrifice to set up the others.

think about where a person or any of you would be if you graduated high school and had a house paid off as a gift?
And all you had to worry about is a car payment, taxes and stupid bills?

how much extramoney would you have?

this is why when people say THEY are comfortable the shit is wack. Especially if you have kids.your comfort hurts generations when you think about the grand scheme of your lineage.

Only we can do this for our own.

 

[DOS_patos]

Yeah, aspects of that sound good, no doubt. I'm just saying that having a hard requirement for 20% down would basically disqualify 90% of Americans from ever owning a home.

I doubt, you are right and that’s why predatory shit got so big.
Along with other shit.....America is more about keeping people stupid those it’s easier to take advantage of them. A circle of debt and interest is all they want.

 

[konceptjones]

Yeah, aspects of that sound good, no doubt. I'm just saying that having a hard requirement for 20% down would basically disqualify 90% of Americans from ever owning a home.

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.

 

[DOS_patos]

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.

I forgot about this.

It’s ways to beat the system.

people just gotta be readyto listen

 

[Big Lurko]

This is what every parent should strive for.

that’s how I feel anyway.

it’s going to take a generation to sacrifice to set up the others.

think about where a person or any of you would be if you graduated high school and had a house paid off as a gift?
And all you had to worry about is a car payment, taxes and stupid bills?

how much extramoney would you have?

this is why when people say THEY are comfortable the shit is wack. Especially if you have kids.your comfort hurts generations when you think about the grand scheme of your lineage.

Only we can do this for our own.

Facts. Started an investment account for my daughter at like 1 month old and plan to hand it over at 18. We never did shit like this in previous generations lol.

 

[Big Lurko]

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.

But the intrest?

 

[konceptjones]

But the intrest?

2.625% as of today on an FHA 30 year fixed.

 

[DOS_patos]

But the intrest?

You look into refi?

 

[Big Lurko]

You look into refi?

Na already did

 

[Race Jones]

 

[konceptjones]

Like I said... The investors are doing all of the buying.

Zillow = An investor.

but artificially inflating prices means they're only selling to other investors (like I said). And those investors are like-minded, so they end up inflating the homes, and they sell them back to Zillow and other well moneyed investors, and the circle continues until the market can no longer sustain the artificially inflated home values and then...

 

[Race Jones]

 

[Big Lurko]

 

[Mr BFK]

This is what every parent should strive for.

that’s how I feel anyway.

it’s going to take a generation to sacrifice to set up the others.

think about where a person or any of you would be if you graduated high school and had a house paid off as a gift?

bruh didn't u try to clown me for doing this exact same thing @ the underlined

I guess we all learn to level up and mature eventually

 

[Race Jones]

 

[konceptjones]

most def some Cali shit. They don't do no shit like this out here or back in Phoenix. Shit, at one point in the early 00's, there was a big ass lot just west of downtown that was set aside as a homeless encampment. I rolled by when we first mover there and it had nothing but tents as far as you could see.

 

[LurkerSix]

most def some Cali shit. They don't do no shit like this out here or back in Phoenix. Shit, at one point in the early 00's, there was a big ass lot just west of downtown that was set aside as a homeless encampment. I rolled by when we first mover there and it had nothing but tents as far as you could see.

They did that down here in downtown ft lauderdale a few years back. Homeless people used to sleep at this old bus station, then they decided to fix it up and add a train station. So at night they moved from there to across the street and slept at the library/lil park, but would leave in the morning. At some point, they just stopped leaving in the morning and it turned into a 24/7 lil shanty town.
The Mayor or some high up official (i forget who) came one day for a meeting, freaked out and was blaming them for there being rats downtown (which just isnt true), then had police and a frontloader come the next day and throw all their tents & belongs in, then dumped it in a dumpster and kicked them out. People werent happy with how he did it at all. And it wasnt even a solution, cuz now you still had homeless wondering around.
They also had some some like 90 year old man and priests arrested for feeding the homeless. Apparently thats illegal in ft.lauderdale. They really oppose all solutions, then wonder why we got homeless.