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Dump Term 2 Part 3: "But I Say Unto You, Hate Thy Enemies." -- Revulsions 5:44

FadeToBlack&Gold said:
If you're under 40 and voted for Dump, well done. You're going to own nothing, eat dirt, and be happy.
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A few people on Bluesky ran the quick math, and for a $500,000 a 30 year mortgage at current rates would be 600k in interest. A 50 year mortgage would be north of $1M of interest, on *top* of the home price.

The savings? Barely $500/mo. (It was like 2600 to 2100 and change) They could achieve the same savings right now with a 50 point rate cut.


Essentially, you nailed it. They want everything as a subscription service. Even "owned" things.

*Edit* Canada went through this a decade ago or so, and they offer 99 year mortgages. Never helped the home prices.
 
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The other interesting thing I saw a few weeks back was the math for the new home buyers:

The national average for a home is $350,000. Doing some quick math at current rates, the minimum income a home buyer would need to make today to be *pre-qualified* for the home is $110,000.

$53/hr.

That's the *minimum* someone needs to make hourly to afford the *average* home sales price.
 
aparch said:
The other interesting thing I saw a few weeks back was the math for the new home buyers:

The national average for a home is $350,000. Doing some quick math at current rates, the minimum income a home buyer would need to make today to be *pre-qualified* for the home is $110,000.

$53/hr.

That's the *minimum* someone needs to make hourly to afford the *average* home sales price.
Click to expand...

There must be a longitudinal "hours at median income to afford median home" stat for American history someplace. I wonder if we've pegged the scale.

Edit: looks like that still belongs to Saint Ronnie's early 80s*. But we're the worst since the 30s other than that.

* I love how the Keeeds think they invented financial suffering. You've never seen Oil Shock or Stagflation, you sweet sheltered summer children.
 
Fun fact: there are currently less certified air traffic controllers in the US (10,643) than were fired by Ronald Reagan in 1981 (11,345).
 
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Sahil Kapur (@sahilkapur.bsky.social)

With a “WOW!,” President Trump posts a claim about DOGE and “royalties linked to Obamacare” that originated on a satirical website. That site’s own About section reads: “Everything on this website is fiction… If you believe that it is real, you should have your head examined.”
bsky.app bsky.app
 
Handyman said:
View attachment 1176

The only winning move is not to play...
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3.25% here. Odds of me selling anytime soon?
zero-meek-mill.gif
 
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