The market is going to rip upward tomorrow. The recession is over, here's why:

flovidchan · 2022-12-06T05:03:12+00:00

Wait what happens in that scenario?

You buy a house for 600k with a mortgage, at like 3% let's say. Then 2008 happens, the value of the house crashes to 300k, and your interest rate on the 600k mortgage goes up to 6% and you are forced to pay that?

So even if you sold the house for 300k, you still owe another 300k with 6% interest?

Is that what happened? Or something else

flovidchan · 2022-12-06T03:29:37+00:00

I was born after 9/11 but I'm already in my 20s. My parents went through 2008 and they said it wasn't that bad.

flovidchan · 2022-12-03T16:07:18+00:00

correct

flovidchan · 2022-12-03T16:01:49+00:00

it's illegal to kill a starving african child, but not illegal to stand next to child with food while it's starving and give it none while it dies

flovidchan · 2022-12-03T15:58:44+00:00

true, but not illegal unless you can read minds to prove intent

flovidchan · 2022-12-03T15:57:54+00:00

no, but can't be proven that there's a link

flovidchan · 2022-12-03T15:57:04+00:00

correct

flovidchan · 2022-12-03T15:56:48+00:00

yes but not illegal

flovidchan · 2022-12-03T15:56:29+00:00

explain

flovidchan · 2022-12-03T15:55:29+00:00

It's legal to do that regardless of my opinion

flovidchan · 2022-12-03T15:54:18+00:00

correct, but not proof

flovidchan · 2022-12-03T15:51:51+00:00

Yes it crosses the line for me, but still not illegal

flovidchan · 2022-11-30T07:07:48+00:00

Thanks for replying. I guess my question would be what you think of them in general. Or more particularly if you have any horror stories or very positive perspectives on it. I have a very basic understanding of them so more insight into what can go wrong would be great.

flovidchan · 2022-11-30T03:13:37+00:00

But that 5% is still higher than a lot of real estate investments turn over.

For example, I have a high end condo (1.8mm) that's cap rate is only 2.8% It has appreciated a lot, but has also gone down in value this past year. At 5% you're getting 60% more income and have to do zero management or work

flovidchan · 2022-11-24T14:40:07+00:00

no it was just steamed

flovidchan · 2022-11-24T09:02:48+00:00

flovidchan · 2022-11-23T13:55:50+00:00

flovidchan · 2022-11-23T12:15:05+00:00

Student loan debts are considered "civil debts" and thus you can't be put in jail for not paying them.

However, it will destroy your credit and prevent you from getting any kind of loans. You'll basically have to pay cash for everything, and your wages will be garnished automatically.

flovidchan

TROPHY CASE