Wait what? I thought this stuff was made in Newww York City.
This is still blowing my mind. If we have a housing implosion, this is why. I’m trying to remember another time in my life when rates rose this rapidly.
They’ve been much higher before, but I can’t remember them climbing this fast.
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Only thoses lines… You would be amazed at the people on an intetest only adjustable mortgage that were living paycheck to paycheck with a $400k to $600k mortgage. They were good for over 10 years but now…they are tapping into intetest only HELOCs to cash out and cash flow the higher rate so they now have 2 intetest only adjustable mortgages trying to keep up with the Jones’s. After this last play runs out it should be fun.
TSD, I am fascinated by this. I am so careful money wise. I often wonder just what % of people live that far on the edge so they can have it all. You have any idea how many you are talking about?
Really scary for the RE market.
Contractors amaze me during hot housing markets. They get arrogant as fuck there is so much work and almost all go out and buy toys and crap like the times are always gonna be good. It’s almost comical
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Anybody here use ESPN for Fantasy Football? Pretty sure I got jobbed this week. Guy I played magically took a player from his bench that had a big day and somehow had him in his lineup. Wasn’t that way Monday because I checked. He’s the commishes brother and I think pulled a switcheroo on me. I lost by 3 pts
Question is, is there a way to check? Can’t access commishes moves.
If not I guess I’ll give them the benefit of the doubt but I’ll watch it like a hawk from here on out…
clt says more people than you think live in a 6k SF house, with an audi and tesla in the driveway.
and they have rooms with no furniture inside
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I think it tracks commishes moves on one of those pages. I remember being commish and when I changed league rules it would keep track.
Thank you for posting. I was on the ground over there with the 101st during this
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NA. It was more about where I saw it. I would put my experience at 25% to 35% overall. Now if the customer is in Cornelius, Brawley School Road or South Charlotte then that number is much higher especially in the areas where new money rolled in and jacked up the values over the kast 25 years like Cornelius, Brawley School Road. Never saw it in Myers Park. They were old money types. I actually had a customer in Myers park that probably had more money than the small Lender I was using. Lol.
I mever ever saw this in Rural areas around Concord , Salisbury, Winston-Salem or that type.
Piggybacking on what Charlotte posted. I have had too many to count instances of pulling up to a very expensive house and there would be two $75K+ BMW. Merc, Range Rover etc sitting out front and sometimes only a matteras on the floor in the bedroom and a card table in the dining room on the inside. Always a cash out refinance and usually going to a higher rate. I had a friend who flipped houses and I would always go ahead and give him the lead / referral for the next 12 to 18 month period.
Whenever you start hearing cash out refinance commercials on the radio/ media know the shit is getting ready to hit the fan.
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Some of my neighbors fit that bill.
In unrelated news:
Apparently Heidi Klum and her daughter (she’s 18 by the way) have teamed up to do a lingerie advertisement. Google is your friend…
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