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Could $50 Per Month Save Housing?

The 30 year mortgage.  As American as apple pie.  It’s the sacred cow of the real estate finance industry.  But, is it also destroying wealth in this country? When you take out a mortgage, they are simple interest.  That means that you pay interest on the outstanding principal balance each month.  After 10 years on a $100,000 original mortgage, you are only down to owing $78,000. But, if you paid $50 per month more (on a 25 year mortgage), you would be down to $67,000.  It may not be much, but psychologically, it’s better to have your head over the water level rather than underwater! Looking at the bigger...

Thanks Putin for Overpaying for a House

As I have been saying ad nausem, the real estate market will not sustain its current insane activity.  The previous reasons I have stated had to do mostly with economic conditions but now we find the out of the box reason. The Panama Papers and SF’s housing crisis The Panama Papers (can’t keep thinking Pentagon papers) have revealed the hiding of money in a Russian Bank.  Now, it’s been tied to the purchase of real estate.  This article shows what allegedly has been purchased by this dirty money in the Bay Area of San Francisco. These high bid purchases squeezed out real buyers and drove prices higher.  It’s not just...

The Big Short II

In the week that the movie, The Big Short comes out, a San Francisco Credit Union is doing exactly what partially caused the big short to happen. These geniuses are putting out a loan with No Money Down up to, get ready…….$2,000,000.  That’s two million dollars with no down payment.  Let me say that again.  Buy a $2,000,000 house in San Francisco and put nothing into it.  No skin in the game. Will the CFPB do anything about it?  Will anyone be up in arms (except me?).  No.  They’ll just say that it is a great business decision on their part for the non-profit credit union to attack a...

The 2016 Presidential Election Began Today

http://thehill.com/policy/national-security/260655-white-house-threatens-to-veto-bill-to-halt-syrian-refugees If you are a Democrat or Republican election freak, I am sure you’ve been waiting for the new, most divisive issue that can shape the election. Your wait is over. Simply put, the most highly coveted voters: Suburban Moderates are now siding one way or the other on this issue.  This is the national issue that will last and last and last.  It’s what privacy laws were to the last 15 years, the new separator is religion. There is so much money around the world that controls religion. It’s sick.  Now, they are the organizations that will be spending money to sway the votes. It could get crazy....

-$1,188,103.00 Last 30 Days

Yes.  I do think I am the Bernie Saunders of the real estate/mortgage industry. For those new to my prose, I like to tell what I think, feel and see in the market based on a combination of gut and numbers. Sometimes the numbers talk to me and sometimes the brain just feels that something is going to happen. I just let it come out and I enjoy doing it that way. And now to today…….. I’ve seen the basic plateau of the market for about 9 months and now I see my first real proof that people have said, ENOUGH and real estate prices will begin to drop....

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