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Old 01-20-2013, 07:33 PM   #1
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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.
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Old 01-20-2013, 07:37 PM   #2
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says the guy who said he doesn't buy anything he doesn't have twice the cost in cash.
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Old 01-20-2013, 07:40 PM   #3
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Old 01-20-2013, 07:44 PM   #4
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Old 01-20-2013, 08:32 PM   #5
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As long as they keep property taxes high on the mile roads outside of 8 mile, no care.
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Old 01-20-2013, 09:16 PM   #6
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Yeah but good luck on getting a loan.
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Old 01-20-2013, 09:20 PM   #7
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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.
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Old 01-20-2013, 09:39 PM   #8
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Quote:
Originally Posted by FadeToblack View Post
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
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Old 01-20-2013, 09:40 PM   #9
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Old 01-20-2013, 09:46 PM   #10
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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.
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Old 01-20-2013, 10:16 PM   #11
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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.
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Old 01-20-2013, 10:21 PM   #12
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Too bad the fed only lets responsible buyers qualify for loans now.
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Old 01-20-2013, 10:45 PM   #13
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Too bad the fed only lets responsible buyers qualify for loans now.
There are ways around everything
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Old 01-20-2013, 10:53 PM   #14
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There are ways around everything
No way getting around 2 years of tax returns for mortgage qualification. I tried for months.
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Old 01-20-2013, 10:57 PM   #15
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No way getting around 2 years of tax returns for mortgage qualification. I tried for months.
You did not try very hard
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Old 01-20-2013, 11:22 PM   #16
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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....
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Old 01-21-2013, 12:18 AM   #17
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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
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Old 01-21-2013, 12:27 AM   #18
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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.

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Old 01-21-2013, 12:50 AM   #19
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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...
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Old 01-21-2013, 01:00 AM   #20
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as a real estate developer for 8 years in both residential, and hospitality... you're stupid.
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