glomag

Don’t bore us, get to the chorus!

I’m sorry to be pedantic but this is a pet peeve of mine. If you bought a house you would not have any mortgage payment. You (and everyone else usually) are talking about financing a house.

Maybe I’m the crazy one but when I buy something I like to look at the total amount that I’m paying for it.
If I wanted a house listed for $300,000 5-years ago and I wanted to finance it, the rate might have been 3% so the total amount I would be paying would be $455,332.36 over 30yrs. Therefore I would only finance if I thought ~$450,000 was a fair price. If I thought the house was only worth $300,000 then I would need to pay in cash.

Today rates are at 7% so a house listed at $300,000 actually costs $718,526.69 when financed. Do I think the houses I see listed for $300,000 are worth over $700,000? No. Do I have more than $300,000 needed to afford to pay in cash? Also no. Therefore, I’m not buying.
*These calculations are ignoring the down payment but the principle is still valid.

https://tenor.com/view/we-work-hard-gif-25525058

They ASK overworked people to do this for FREE. Not the duplicating part though, that would be very expensive in most cases and require its own funding.

Where’s my boy Doug?

If they’re going to get the same suspension either way, they might as well…

I believe that was Norway.

Is your mind on your money?

But nice cause I texted Haiti
90 lady cops on the road and I’m arrested for doing 80

Damn, I like The Smiths, Radiohead, Joy Division, Nine Inch Nails, Pavement, and Weezer. Somehow I managed to cover the whole board.

Elon Musk wants to know your location

I mean…

The regular wheats are pretty big. I don’t think they frost them tho

Cirno plushes are limited and in high demand?

People aren’t pulling and storing tens of thousands of lbs of load every day.

Hey, speak for yourself ( ͡° ͜ʖ ͡°)

If this is true it might help explain the recent divergence between GDP and GDI.

deleted by creator

The whole system is so messed up on multiple levels. You not only have to publish some result that is correct (true) but it also has to be positive (support your hypothesis) and sufficiently "important " to your field or else your whole career is at risk.

I’m posting this while running an experiment at 11pm on a Saturday night trying to collect data for a grant application. Of course I’m going to lose if I’m competing against people who just make shit up.

Yes it sounds like everything worked out great for you. Good job on timing your investment! But this is a perfect example of the type of financialization of the housing market that I’m against. You used leverage to buy an expensive, risky asset and sold it for a profit just a few years later. This doesn’t always work out so well (ask anyone who bought a house in 2007) and I don’t want to put essentially all my savings into a wallstreetbets style gamble just so I can have somewhere to sleep at night.

I’m not saying mortgages should completely go away. I’m sure a mortgage is the right decision for many people’s situations. It’s just the way that people talk about buying a house, a mortgage seems to be assumed. If it wasn’t just assumed then maybe people would put more thought into whether they want to save for a larger down payment (or the full price) or whether they want to pay $750,000 for a $400,000 house.
I don’t know, maybe people see these numbers and think its a great deal. All I see is a bank making a huge amount of money from me that I would rather keep for myself. Also, if people stopped stretching their budget to the absolute limit with financing nonsense (3% down, variable rate loans, rate buydowns), in aggregate there would be less demand for houses at these high prices and sellers would have to start accepting lower offers.

Your partner wants to finance a house someday. I know I’m on the losing side of this battle but I really wish people would stop associating BUYING a house with taking out a LOAN from a bank.

It just feels like people are only deceiving themselves by saying “I need good credit to buy a house” when what they really mean is “I need good credit so I can take on a lot of debt and pay out hundreds of thousands of dollars in interest over the next 30 years.”