the next real estate bubble is starting....you brahs in?

Fed has cut rates to 3%. Basically the payment you would of had on a 250k house 3 years a go gets you a 350k house today. 90% of buyers look at payment not actual home price when buying a home. Fed is going to keep rates low for years to come to try and get the RE market cranking again. Builders will start building, HUGE amounts of jobs will be created etc. The gov knows that a healthy/rising real estate market is one of the best creators or jobs.


will crash.

says the guy who said he doesn't buy anything he doesn't have twice the cost in cash.

birdman, brrrrrr

Originally Posted by pancakes

birdman, brrrrrr

As long as they keep property taxes high on the mile roads outside of 8 mile, no care.

Yeah but good luck on getting a loan.

Originally Posted by Stankia

Yeah but good luck on getting a loan.

Plenty of places are lending to qualified borrowers. The "no one is lending money" is a myth, for the most part.

Originally Posted by FadeToblack

Fed has cut rates to 3%. Basically the payment you would of had on a 250k house 3 years a go gets you a 350k house today. 90% of buyers look at payment not actual home price when buying a home. Fed is going to keep rates low for years to come to try and get the RE market cranking again. Builders will start building, HUGE amounts of jobs will be created etc. The gov knows that a healthy/rising real estate market is one of the best creators or jobs.


will crash.

I am actually going into real estate very soon, and to be honest i have been saying the same exact things to people around me. Even my teacher, who has been in real estate/broker/mortgage broker business for over 40 years combined, said the market is very hot right now for houses around 350k. I am almost certain the prices are going to rise in near future(2-3 years). I just hope i can get my hands on some of it

Let me know if you guys want to buy a house in the next 6 months

Butt sex

Originally Posted by pancakes

birdman, brrrrrr

F2B, it's not that simple. The Fed has done everything they can do- and it hasn't been persuading people to spend. This shouldn't be any different.

Originally Posted by zhp43867

F2B, it's not that simple. The Fed has done everything they can do- and it hasn't been persuading people to spend. This shouldn't be any different.

I bought a house 6 months a go and ever since then I have been following the real estate markets around my area. Prices have for sure increased and I see houses going "pending" a lot quicker then I used to.

On my street a few houses have gone up for sale and have sold very quickly in the past 3 months.

And yeah getting a loan SUCKS if you are self employed. But if you have a regular job for at least 2 years and decent credit you can get a mortgage.

Originally Posted by GRIFFIN

Butt sex

Too bad the fed only lets responsible buyers qualify for loans now.

Originally Posted by FadeToblack

Too bad the fed only lets responsible buyers qualify for loans now.

There are ways around everything

Originally Posted by GRIFFIN

There are ways around everything

No way getting around 2 years of tax returns for mortgage qualification. I tried for months.

Originally Posted by FadeToblack

No way getting around 2 years of tax returns for mortgage qualification. I tried for months.

You did not try very hard

Originally Posted by GRIFFIN

You did not try very hard

There are hard money lenders that will do it, but they want 40-50% down etc.

Show me a bank/credit union that will write a 30 year mortgage with 1 year documented income....

Originally Posted by FadeToblack

There are hard money lenders that will do it, but they want 40-50% down etc.

Show me a bank/credit union that will write a 30 year mortgage with 1 year documented income....

I have access to 3

Originally Posted by FadeToblack

There are hard money lenders that will do it, but they want 40-50% down etc.

Show me a bank/credit union that will write a 30 year mortgage with 1 year documented income....

If you work in the field that you degree is in, it won't be a problem.

Originally Posted by evolved

Plenty of places are lending to qualified borrowers. The "no one is lending money" is a myth, for the most part.

Not in my case, even if I bring in a decent down payment, they look at the amount of taxes I pay which most of the them get written off and not my income...

as a real estate developer for 8 years in both residential, and hospitality... you're stupid.