Housing for everyone. You, me, and the family down the street.
Denver, CO
Joined August 2021
- Tweets 3,243
- Following 136
- Followers 212
- Likes 2,336
Pinned Tweet
A bank is a place that will lend you money if you can prove you don't need it. - Bob Hope
“Of course 50 year mortgages and assumability of all loans sounds like a good idea... You’re twelve, little buddy.”
Turns out running a tech company doesn’t provide much of a primer on how bond markets operate.
Between discourse on 50 year mortgages and full assumability on every loan, we’re approaching critical mass.
I'm twelve years old and just watched the Big Short.
Me. On Halloween. Explaining to UW’ing that a single adult can go from $900 in rent to a $2700 payment whilst also explaining to listing agent that said UW’er must agree with this take.
They haven’t bought in close to 3 years.
Runoff isn’t sale. It doesn’t introduce more supply to the market. Just… wow.🤦♂️
One thing to note, running off MBS from the Feds balance sheet is going to place upward pressure on mortgage rates. Obviously, the degree to which this happens depends on the pace and scale of the Fed’s balance sheet reduction, market risk appetite, and broader economic trends, etc. BUT something to watch.
'Why am I being called upon to help in maintaining this property? Why are we maintaining this property in the first place?'
OER Survey to Joe Homeowner - “If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished and without utilities?”
*Joe Homeowner, man with no rental market data or knowledge: "I dunno? $5000?"
For those familiar with lending, brokers *generally* are making a good chunk more than their bank/retail counterparts. The 1099 aspect means you aren't covering overhead/management/benefits. That includes healthcare.
This isn't what it seems. Less pay = more benefits.
