Interest rates

[HawkMachine]

You're.... not smart.

Sure buddy.

Want to compare careers and balance sheets?

 

[NoleATL]

At first glance, those monthly payments look incorrect (way too high). Are you adding estimated taxes and insurance?

These were someone else's numbers but I put them into an online mortgage calculator to verify and they were within $25-40. It does not include taxes and insurance.

 

[HawkMachine]

So, you think a home is a good investment but not "an outstanding investment"?

A RENTAL home/property has the potential to be a good investment. Or if you can flip one, etc.. Those are INVESTMENTS.

If you can have a positive cash flow and have someone else pay off your mortgage it's GREAT.

Factor in depreciation expense and it gets even better.

 

[RileyHawk]

Sure buddy.

Want to compare careers and balance sheets?

LOL - what a ****ing clown.

 

[RileyHawk]

A RENTAL home/property has the potential to be a good investment. Or if you can flip one, etc.. Those are INVESTMENTS.

If you can have a positive cash flow and have someone else pay off your mortgage it's GREAT.

Factor in depreciation expense and it gets even better.

SMFH. Rental property is another investment, it is not your home.

JFC

 

[HawkMachine]

LOL - what a ****ing clown.

I'll take that as a no.

I'm done replying to you. Waste of time.

 

[RileyHawk]

I'll take that as a no.

I'm done replying to you. Waste of time.

LOL - my dick is bigger than yours too.

You're an insecure ****ing clown.

 

[Madman_1]

These were someone else's numbers but I put them into an online mortgage calculator to verify and they were within $25-40. It does not include taxes and insurance.

If that is the case, that calculator is broken.

For example, a $500,000 home with 20% down at 3.11% interest is $1710.00 per month, not $2138.00.

I have to believe whatever you were using was adding taxes and insurance. I'm assuming it wasn't adding PMI, as that would not be required with 20% down.

 

[DogBoyRy]

There's actually a lot more Des Moines inventory now on Zillow than the last time I looked (probably mid 2022). Dramatically. In February, that's weird.

More listings and price reductions are happening in almost every market.

 

[Tailgater371]

If that is the case, that calculator is broken.

For example, a $500,000 home with 20% down at 3.11% interest is $1710.00 per month, not $2138.00.

I have to believe whatever you were using was adding taxes and insurance. I'm assuming it wasn't adding PMI, as that would not be required with 20% down.

the 2138 seems too low for taxes and insurance though. I have to make a guess that a 500K house has at least 2g for insurance and another 7g in taxes. divided that by 12 and you have an additional 750/mo. not to mention the whole "two months of equity at all times" thing.

 

[Madman_1]

the 2138 seems too low for taxes and insurance though. I have to make a guess that a 500K house has at least 2g for insurance and another 7g in taxes. divided that by 12 and you have an additional 750/mo. not to mention the whole "two months of equity at all times" thing.

I agree with what you are saying. I was just pointing out that the number was not accurate for principle and interest only.

 

[SiouxCyty]

The interesting part is housing prices went up in part because of the low rates. So, will people just get accustomed to buying 25% less house for the same money or will prices come down to meet that? And, all those people who bought at the higher price/lower rates when its time to sell? Interesting times.

We built in late 2016 when rates were aroun 3.5%. We see newer houses being built smaller or without finished basements to keep the price down.

 

[Hawk_4shur]

If that is the case, that calculator is broken.

For example, a $500,000 home with 20% down at 3.11% interest is $1710.00 per month, not $2138.00.

I have to believe whatever you were using was adding taxes and insurance. I'm assuming it wasn't adding PMI, as that would not be required with 20% down.

$2,138 is the payment on $500,000 without a down payment.