One of the most common trends in the United States these days is for the elite to embrace the language of the left to turn people against good things that help them. Consider the New York Times and its case against the thirty-year fixed mortgage. According to the
Joe, Neuro-Diverse is a new corporate buzz word, but one I'm frankly OK with. Also called Neuro-Divergent. There is an honest to God effort to hire and give people with Autism and other "On the Spectrum" issues a real chance. Being socially awkward shouldn't make you unemployable. I am working with them every day and they are doing very well. It only requires a little patience, listening and direction. They do far more and better work than my Gen Z people who spend their days telling me what they won't do.
I love the part about “just re-finance” how moronic. Re-fi aren’t free, and if your income has gone down, or you lost your job, credit rating gone down, victim of identity theft etc! Wish these elites would just take a Valium (or 2) to get over their guilt but a long vacation to anywhere without cell or internet and leave us alone!
Re: The New York Times Thinks Your 30 Year Mortgage Is Bad For America -
It's just more of that moaning coming from the so-called "elites" when the "little people" get a something of a break every so often. They just can't stand it. They think there are too many of us living too well, you know. They think we have too much money, we eat too much, we drive too much, we pollute too much, we use too much water, we use too much electricity, and we generally have too much freedom.
Real estate is the last big chunk of wealth that the middle class has any access to. The elites know this, and they can't stand it.
You know what I find perverse? There are 8 people in the world who have more money than 5 billion other people put together, and they own media outlets like the NYT which lecture everyone about income inequality and the uneven distribution of wealth.
Like the left using schools for indoctrination rather than education, and openly admitting it, saying the "problem" is inflation and interest rates can go up and that is not fair to the banks, is an admission of the failure of progressive policies.
Politicians in general and the left in particular can neither accept the consequences of their actions nor reflect and change.
The 20% down rule has historically protected banks. That covered the price fall of the great recession.
It is the left that championed giving loans to people who would more than like default in the name of equality.
This is nothing more than destabilization after demoralization. A prelude to the Left's normal, dystopia.
The NYT article is hilarious in comparing Germany, the UK and, yes, Denmark (!) to the US in housing. Those countries have literal barriers to entry that cause their markets to be many times as unequal as America’s. Plus the U.S. is an orders of magnitude larger than these European nations. The story was so obviously crafted by rich bankers and the WH comms staff I laughed reading it.
Unbelievable! Just can't make this stuff up. Sure, let's destabilize the middle class and drive a deep wedge between the haves and have nots. Let's add this to unaffordable electric cars and suddenly we can completely shutdown mobility. Yep, that's the ticket to equality.
I didn't notice the idiot at the NYT lamenting how bad it is that the Federal Governemnt sells 30 year bonds. Can you imagine how "F*#KED we'd be if we only sold paper needing re-issue every 30, 60 or 90 days? I apologize for the crude reference, but my GOODNESS are these pople complete morons and should be bagging groceries.
I firmly believe these cretins exist only to sit around dreaming up some other way they can exclaim they've discovered yet another fascist inequity hurting the poor. It must have something to do with "arousal". Has to be. They can't be thinking with their brains.
Where I live Andy, the local Kroger hires people with mental handicaps to bag groceries, take bagged food out and load in the cars of the elderly and collect carts from the parking lot. Surely they can handle that much?? hahahaha...
They surely proved that neuro-diverse people can be trained and do a good job. The jury is still out on libtards and the leftist intellectual class, but its not looking good.
Just another example exposing the NYT's irrelevance (along with the WaPo and most of the legacy media.)
I'm sitting (literally) fat and happy with my 3.125% mortgage while others are locking in at 8% or more. I bet the NYTs will complain about these people refinancing in thr futre - if rates ever come down.
I bought a house back in 2017 at a 3.5% fixed/30 year. Back in 2021, I managed to refinance my mortgage at 2.99%, right before all this inflation mess blew up. If I tried to buy the same house today, I wouldn't be able to afford it.... not in a million years.
Shocker, the equity leftists are upset that they are not in a position to redistribute home equity.
Oh the unfairness of it all. All those responsible home owners and the equity in their property, vice the irresponsible house flippers on adjustable rates trading up when the adjustments start. Now they are caught. Not to mention the people who couldn't afford a house that were given mortgages that nearly brought down the financial system. This is likely a jumping off point for another go at the system.
Its probably a Gen Z reporter whining about having to work to buy a house and the government should have 2% mortgages mandated by law.
The press used to call out the absurd. Now the press is the purveyor of the absurd.
As a lender I can assure little John Y. Campbell that banks are fine making 30 year mortgages at a competitive fxed rate. The probability that the borrower will service the debt reliably with a fixed payment strengthens the bank loan asset. Yes variable rate mortgage loans help mitigate interest rate risk for the bank, but if rates trend up significantly like in times of Bidenomics, there are more defaults and it hurts the bank's balance sheet.
They already are a protected class. They already make a ton of money off lendees.... but it seems like the NYT is complaining that the banks aren't making AS MUCH AS THEY THINK THEY SHOULD BE.
This piece brings to mind the first reading this morning from 1 Macabees verses 10-15, 41-43, 54-57, 62-63. A sinful offshoot of Alexander’s officers convinced the Jews to abandon their roots. Antiochus Epiphanes wrote that they should all become one people and abandon their customs. Terrible affliction came upon Israel. Nothing new under the sun. Sounds familiar. Turning to your psychic, indeed. I tried that once. Best to stay grounded and know your roots. My husband and I rent at this time in our lives and we are fine. We like holding onto our cash and investing. We want to be portable. We are both 6 figure. He is a DINK. My kids are doing fine. All in all I try not to worry. I’m just passing through. It will all end soon and change.
Speaking of a free press, The Free Press posted a disturbing article yesterday about young women converting to Islam. It sounded eerily similar to young women's obsession with gender ideology. Maybe it's the genital mutilation practiced in both.
MADONNA.... how easily the isolated young (by social media) become play-dough in the hands of radicals and perverts who also insinuate themselves into these lost souls lives on the WWW. Parenting has never been so perilous.
7 years is about the Average number of years homeowners own a house.
Joe, Neuro-Diverse is a new corporate buzz word, but one I'm frankly OK with. Also called Neuro-Divergent. There is an honest to God effort to hire and give people with Autism and other "On the Spectrum" issues a real chance. Being socially awkward shouldn't make you unemployable. I am working with them every day and they are doing very well. It only requires a little patience, listening and direction. They do far more and better work than my Gen Z people who spend their days telling me what they won't do.
I love the part about “just re-finance” how moronic. Re-fi aren’t free, and if your income has gone down, or you lost your job, credit rating gone down, victim of identity theft etc! Wish these elites would just take a Valium (or 2) to get over their guilt but a long vacation to anywhere without cell or internet and leave us alone!
I worked for a mortgage banker from 1975-1977. Rates went up to 14-17%. It was much worse than now.
Re: The New York Times Thinks Your 30 Year Mortgage Is Bad For America -
It's just more of that moaning coming from the so-called "elites" when the "little people" get a something of a break every so often. They just can't stand it. They think there are too many of us living too well, you know. They think we have too much money, we eat too much, we drive too much, we pollute too much, we use too much water, we use too much electricity, and we generally have too much freedom.
Real estate is the last big chunk of wealth that the middle class has any access to. The elites know this, and they can't stand it.
You know what I find perverse? There are 8 people in the world who have more money than 5 billion other people put together, and they own media outlets like the NYT which lecture everyone about income inequality and the uneven distribution of wealth.
Like the left using schools for indoctrination rather than education, and openly admitting it, saying the "problem" is inflation and interest rates can go up and that is not fair to the banks, is an admission of the failure of progressive policies.
Politicians in general and the left in particular can neither accept the consequences of their actions nor reflect and change.
The 20% down rule has historically protected banks. That covered the price fall of the great recession.
It is the left that championed giving loans to people who would more than like default in the name of equality.
This is nothing more than destabilization after demoralization. A prelude to the Left's normal, dystopia.
The NYT article is hilarious in comparing Germany, the UK and, yes, Denmark (!) to the US in housing. Those countries have literal barriers to entry that cause their markets to be many times as unequal as America’s. Plus the U.S. is an orders of magnitude larger than these European nations. The story was so obviously crafted by rich bankers and the WH comms staff I laughed reading it.
0%-interest-balloon-mortgage has entered the chat: remember when I was the bad guy?
Unbelievable! Just can't make this stuff up. Sure, let's destabilize the middle class and drive a deep wedge between the haves and have nots. Let's add this to unaffordable electric cars and suddenly we can completely shutdown mobility. Yep, that's the ticket to equality.
I didn't notice the idiot at the NYT lamenting how bad it is that the Federal Governemnt sells 30 year bonds. Can you imagine how "F*#KED we'd be if we only sold paper needing re-issue every 30, 60 or 90 days? I apologize for the crude reference, but my GOODNESS are these pople complete morons and should be bagging groceries.
I firmly believe these cretins exist only to sit around dreaming up some other way they can exclaim they've discovered yet another fascist inequity hurting the poor. It must have something to do with "arousal". Has to be. They can't be thinking with their brains.
Do you honestly think they are capable of bagging groceries? These are people who couldn't handle putting oil in a car or even air in the tires.
Where I live Andy, the local Kroger hires people with mental handicaps to bag groceries, take bagged food out and load in the cars of the elderly and collect carts from the parking lot. Surely they can handle that much?? hahahaha...
They surely proved that neuro-diverse people can be trained and do a good job. The jury is still out on libtards and the leftist intellectual class, but its not looking good.
Neuro-diverse. New one for me, Andy
Just another example exposing the NYT's irrelevance (along with the WaPo and most of the legacy media.)
I'm sitting (literally) fat and happy with my 3.125% mortgage while others are locking in at 8% or more. I bet the NYTs will complain about these people refinancing in thr futre - if rates ever come down.
I bought a house back in 2017 at a 3.5% fixed/30 year. Back in 2021, I managed to refinance my mortgage at 2.99%, right before all this inflation mess blew up. If I tried to buy the same house today, I wouldn't be able to afford it.... not in a million years.
Shocker, the equity leftists are upset that they are not in a position to redistribute home equity.
Oh the unfairness of it all. All those responsible home owners and the equity in their property, vice the irresponsible house flippers on adjustable rates trading up when the adjustments start. Now they are caught. Not to mention the people who couldn't afford a house that were given mortgages that nearly brought down the financial system. This is likely a jumping off point for another go at the system.
Its probably a Gen Z reporter whining about having to work to buy a house and the government should have 2% mortgages mandated by law.
The press used to call out the absurd. Now the press is the purveyor of the absurd.
As a lender I can assure little John Y. Campbell that banks are fine making 30 year mortgages at a competitive fxed rate. The probability that the borrower will service the debt reliably with a fixed payment strengthens the bank loan asset. Yes variable rate mortgage loans help mitigate interest rate risk for the bank, but if rates trend up significantly like in times of Bidenomics, there are more defaults and it hurts the bank's balance sheet.
Great call, Frank.
Will bankers now become the newest protected class?
They already are a protected class. They already make a ton of money off lendees.... but it seems like the NYT is complaining that the banks aren't making AS MUCH AS THEY THINK THEY SHOULD BE.
Aren't they already a protected class?
This piece brings to mind the first reading this morning from 1 Macabees verses 10-15, 41-43, 54-57, 62-63. A sinful offshoot of Alexander’s officers convinced the Jews to abandon their roots. Antiochus Epiphanes wrote that they should all become one people and abandon their customs. Terrible affliction came upon Israel. Nothing new under the sun. Sounds familiar. Turning to your psychic, indeed. I tried that once. Best to stay grounded and know your roots. My husband and I rent at this time in our lives and we are fine. We like holding onto our cash and investing. We want to be portable. We are both 6 figure. He is a DINK. My kids are doing fine. All in all I try not to worry. I’m just passing through. It will all end soon and change.
Speaking of a free press, The Free Press posted a disturbing article yesterday about young women converting to Islam. It sounded eerily similar to young women's obsession with gender ideology. Maybe it's the genital mutilation practiced in both.
MADONNA.... how easily the isolated young (by social media) become play-dough in the hands of radicals and perverts who also insinuate themselves into these lost souls lives on the WWW. Parenting has never been so perilous.