Patch...

Larry Gude

Larry Gude

Strung Out
Yeah I got that...

Nucklesack said:
Based on his posts, he blames the lenders and lending institutions for people buying homes that were over their means.

Insted of purchasing a home they could afford, people went with the risky loans, such as ARMs and Interest Only. The lending institutions are at fault for granting the loans, but the buyer shares as much of the blame (the part he skips over) for thinking a loan that was based on an ADJUSTABLE RATE (when the rates were the lowest they had been, and were only going to go up) was a good idea.

He (patch) forgets that these are businesses out to sell a product. Budwieser doesnt actually have frogs that sing their name, Geico doesnt have a talking Gecko, Loreal's skin cream will not make an alligators skin smooth.
Click to expand...

...but why the obsession? I mean, he's made his points; the ones that make sense and the ones that don't. What I'm curious about is, once you've explained yourself and in great detail yet go on and on, what's really behind it?

What he does is come on every day, all day, and, in effect, declare for all to hear that, once again, he doesn't like home ownership.

So, why the obsession?
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
Patch Tuesday said:
So you know what I did? I turned it off, because I already heard it before. Who knows, I guess they'll go out of business soon if they talk about the same financial problems on a financial channel over and over again.
Click to expand...

But, Patch, certainly everyone knows by now that the RE industry is in a slump and mortgage lenders are dropping like flies because of sub-prime loans.

You're worse than Andy when he had his obsession with cable news ratings.
 
Larry Gude

Larry Gude

Strung Out
I ask...

Patch Tuesday said:
You know Larry, I just don't give you credit for how smart you are some days.

I got to thinking about what you said. Take yesterday for example. CNBC talked all day about how bad the housing market is. Same thing the day before that. And you know what? They're talking about it again today.

So you know what I did? I turned it off, because I already heard it before. Who knows, I guess they'll go out of business soon if they talk about the same financial problems on a financial channel over and over again.

I'm glad you made me smart enough not to watch it. :smoochy:

Thanks Larry

:whistle:
Click to expand...


...why the obsession? You reply with an answer I would expect from a politician trying to avoid giving one.

OK.
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
Patch Tuesday said:
Having said that (yourself), I now hope you realize it's not a good time to buy a house...
Click to expand...

Why?

Prices are lower. And if you have decent credit, lenders will be happy to work with you.

If you are a low-income person with massive debt or other financial troubles, you're right - you shouldn't be buying a home. But that holds in all RE markets, not just this one.

So if anyone's the stupid, it's not the people who bought (although they're stupid to get so over-extended), but the lenders who actually gave these people loans, knowing full well they couldn't pay it back.
 
Larry Gude

Larry Gude

Strung Out
What difference...

vraiblonde said:
If you are a low-income person with massive debt or other financial troubles, you're right - you shouldn't be buying a home. But that holds in all RE markets, not just this one.
Click to expand...

...would that make?

If a person with zero financial troubles would be better off paying a $1500 a month mortgage instead of a $1500 a month rent, then why wouldn't the same thing hold true for a person with money trouble?

The credit finangling or rule breaking or cheating or whatever it is helped people get into homes. As long as they can make their payment, in time, they'll most likely be better off. By a lot. If they couldn't make a $1500 mortgage, they can't make a $1500 rent.

Same/same dollars then pick own over rent is all I'm saying.
 
Larry Gude

Larry Gude

Strung Out
No...

Patch Tuesday said:
Larry, $1,500 per month will get you a $400,000 house to rent...

The payment on a $400,000 house is at least $2,600 per month...

A $400,000 house is currently losing about $2,000 per month in value...

Get it Larry?

:whistle:
Click to expand...


...rent gets you rent. Buying gets you ownership. Intellectually I know you know a downturn in housing prices now is not going to last forever, right?

Buying has more negatives than usual associated with it right now in terms of APPRECIATION which you have pointed out ad nauseum.

Seeings how you don't want to answer why this is so important to you, let me ask another one'

Do you own a car? Did you buy it?
 
fredsaid2

fredsaid2

New Member
Patch Tuesday said:
Larry, $1,500 per month will get you a $400,000 house to rent...

The payment on a $400,000 house is at least $2,600 per month...

A $400,000 house is currently losing about $2,000 per month in value...

Get it Larry?

:whistle:
Click to expand...

Could you post a few examples of 400,000K rentals (in our area) going for $1500 a month? I typically found nicer rentals in the $2500 range. Curious as to where you found the ones in the $1500 range. tks!
 
Pete

Pete

Repete
Larry Gude said:
...not sure he even knows why. It's like a moth and flame thing. He's just happy about a bad housing market I guess.
Click to expand...

Iknow, I point blank asked him several times as did other people. He just comes in and :jameo: about how the evil people did this and :jameo: how dumb people are over and over.

I mean the dude not only posts ad nausium here but he claimes he wrote a wiki article about the housing bubble.

He still wont answer WHY he has to flood the board with the same crap over and over.
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
Patch Tuesday said:
Took me 36.5 seconds...

- Property Finder
Click to expand...

Yeah, and if you have pets, you're SOL.

And I don't get why you're so hostile. Nuck may have had financial problems in the past, but it doesn't mean he does now, and it also doesn't mean he did when he bought his house.

I've had previous financial problems, but I don't have them now, nor did I when I bought my house.

If you don't want to buy a house, don't buy one. Who gives a crap? But why all this hostility toward people who DO buy homes? Because obviously SOMEONE must own a home or there wouldn't be anything for you to rent.

Duh.
 
LordStanley

LordStanley

I know nothing
Patch Tuesday said:
This wouldn't sell for $400k Larry?

Took me 36.5 seconds...

- Property Finder

:whistle:
Click to expand...

Of course you pick a POS house that has 2/3 of an Acre and is waterfront. That house isnt worth the paint thats holding it together. It was built in 1936 for god sakes....

If that house sold the only reason it would sell for anything about $360k is because of the property.

If was a brand new house $400k would not equal $1500/month in rent. More like $2500.

I wouldnt be surprised if that house is paid for.... and has been for a while

This is what more of a 400k mortage gets you in rent
- Property Finder - LIZANNE LAUTZ
 
Last edited:
V

vbailey

vbailey
I don't get you patch, seems you might just be a very unhappy person. It's ok if you want to rent your home. Was just wondering, do you invest your money in another way?
 
You must log in or register to reply here.
Top