Is Biden really that bad?

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DoubleAtotheRON

DoubleAtotheRON

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HGCC said:
My only real complaint is that I think the fed raised rates too quickly this year, yeah yeah its an independent area and such, but eh...cmon man.
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It was too fast. .. historically fast. It really disrupted the housing market especially. People in the middle of a buy, and then find out thier payment is going to change out of thier budget, and have to downgrade to something else. They should have done .25 bias points at a time and not .75. The double whammy is the fast rise of the Fed Interest rate, and the cooling off of the housing market itself. Same thing with the auto industry. People that paid over sticker with little equity going in are not going to be able to trade for a long time. I got a buddy at Cap 1, and said thier repo portfolio has gone up 20% this year. Earlier this year (and last year) if you wanted a house, you had to bid 10-30K over asking to even had a shot at getting it.
 
rkymtnman

rkymtnman

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DoubleAtotheRON said:
It was too fast. .. historically fast. It really disrupted the housing market especially. People in the middle of a buy, and then find out thier payment is going to change out of thier budget, and have to downgrade to something else. They should have done .25 bias points at a time and not .75. The double whammy is the fast rise of the Fed Interest rate, and the cooling off of the housing market itself. Same thing with the auto industry. People that paid over sticker with little equity going in are not going to be able to trade for a long time. I got a buddy at Cap 1, and said thier repo portfolio has gone up 20% this year.
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the rates should have never stayed near 0 as long as they did though. the only way to go was up.

people overpaid big time here in CO over the last few years and are gonna be upside down. just don't sell and ride it out is the only way
 
DoubleAtotheRON

DoubleAtotheRON

Well-Known Member
rkymtnman said:
the rates should have never stayed near 0 as long as they did though. the only way to go was up.

people overpaid big time here in CO over the last few years and are gonna be upside down. just don't sell and ride it out is the only way
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Exactly .... lots of folks are gonna have to wash thier cars/trucks and just fall in love with them again till they get out of the woods. Otherwise, they're gonna need a large down payment.
 
PJ Diaz

PJ Diaz

Well-Known Member
DoubleAtotheRON said:
It was too fast. .. historically fast. It really disrupted the housing market especially. People in the middle of a buy, and then find out thier payment is going to change out of thier budget, and have to downgrade to something else. They should have done .25 bias points at a time and not .75. The double whammy is the fast rise of the Fed Interest rate, and the cooling off of the housing market itself. Same thing with the auto industry. People that paid over sticker with little equity going in are not going to be able to trade for a long time. I got a buddy at Cap 1, and said thier repo portfolio has gone up 20% this year. Earlier this year (and last year) if you wanted a house, you had to bid 10-30K over asking to even had a shot at getting it.
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I refinanced my mortgage during the pandemic, not because I had to, but for a better rate, why not? I reduced my monthly payments by $150, while also shaving close to 5 years off my mortgage. I even got a month of no mortgage payment out of the deal. Now mortgage rates are over double what I refinanced at.
 
Unclebaldrick

Unclebaldrick

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Roger A. Shrubber said:
kanye has his own troubles to deal with...apparently a lot of people don't like doing business with an antisemite
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He's not an anti-Semite! Those anti-Semitic clips that Tucker Carlson edited out were leaked illegally!

Kanye released a video last week called "Last Week" where he showed a clip of him meeting with some Adidas execs. At one point he put some porn on his phone and shoved it in the face of one of the execs. The actors in the porn were having some dialog about infidelity and Kanye felt (such a jenius) that this was the best way to show the execs how he felt about their actions. The exec was like, "is that porn? Get it away from me!". Any corporation that deals with him deserves no sympathy. The guy is totally nuts and one of the greatest Republican minds sends Diamond and Silk. Uh huh, that's right.

Go to about 10 minutes in...



Those Republicans really have great ideas. I sure am glad that they don't seem to have any inclination to destroy democracy, dehumanize any opposition, set up a totally fucked theocracy where the leaders can behave the opposite of how they preach and exterminate those who oppose them in Jesus name, amen.
 
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DoubleAtotheRON

DoubleAtotheRON

Well-Known Member
PJ Diaz said:
I refinanced my mortgage during the pandemic, not because I had to, but for a better rate, why not? I reduced my monthly payments by $150, while also shaving close to 5 years off my mortgage. I even got a month of no mortgage payment out of the deal. Now mortgage rates are over double what I refinanced at.
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Good move!...Fortunatly, I don't have a mortgage.
 
rkymtnman

rkymtnman

Well-Known Member
PJ Diaz said:
I refinanced my mortgage during the pandemic, not because I had to, but for a better rate, why not? I reduced my monthly payments by $150, while also shaving close to 5 years off my mortgage. I even got a month of no mortgage payment out of the deal. Now mortgage rates are over double what I refinanced at.
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i'll be nosy and ask what rate you got? close to 3?
 
HGCC

HGCC

Well-Known Member
DoubleAtotheRON said:
It was too fast. .. historically fast. It really disrupted the housing market especially. People in the middle of a buy, and then find out thier payment is going to change out of thier budget, and have to downgrade to something else. They should have done .25 bias points at a time and not .75. The double whammy is the fast rise of the Fed Interest rate, and the cooling off of the housing market itself. Same thing with the auto industry. People that paid over sticker with little equity going in are not going to be able to trade for a long time. I got a buddy at Cap 1, and said thier repo portfolio has gone up 20% this year. Earlier this year (and last year) if you wanted a house, you had to bid 10-30K over asking to even had a shot at getting it.
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The rates absolutely needed to come up, putting them at zero has really screwed up how quite a bit of the market works in terms of oversight and people that work in it as well as people wanting safer investments. 3-5 % is great. They should have started to gradually work that way over the past like 10 years doing a quarter or half a year, but nope.

Those i-bonds at 9.82% are a hot commodity, saw there may be more with a slightly higher yield coming out. It would be nice if fixed income could keep up with the equity market, hopefully it gets more attractive.
 
PJ Diaz

PJ Diaz

Well-Known Member
DoubleAtotheRON said:
Sweet!.. that's a great deal!
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Right? I already had a pretty good rate to begin with in the mid-4's. I didn't really plan to refinance, but one day I got a call from the mortgage company, who was offering a "no fee" refinance. Usually I'm not interested in solicitations like that, but "no fee" sounded good and they said that it was some sort of quick refinance, plus I knew the covid-induced rates were extra low at the time, so I went along for the ride. Of course there were fees such as closing costs, but they wrapped those up in the loan, and I basically saved $50k over the course of the mortgage. The best thing about covid has been my mortgage.
 
S

schuylaar

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Unclebaldrick said:
Nice picture.

Wait, is that the guy running the Party that claims all Democrats are in favor of pederasty because we sexualize children by allowing transgender people to exist and allowing children to know about gay parents? Good thing that isn't insulting.

He looks pretty wholesome, like a good Christian that defends traditional values and loves his country so much that he would never sell it out over and over and over again for personal gain.
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The four inch heels are so it doesn't look obvious that she's a child dating daddy..isn't she about 11 years old in that pic?'
 
Blue brother

Blue brother

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I mean as someone from outside the us that has no hopes/dreams/emotions vested in the president I’m somewhat impartial and it looks so so bad, like just the few clips I’ve seen speak volumes. We’re forever hearing stories and conspiracies about the elite and kids, but seeing clips of Biden with young girls is the only time I’ve ever felt like it was a dead cert something was going on
 
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