Comments by "Kong" (@Koushi82) on "Are foreclosures coming? Here are the mortgage market red flags" video.

  1.  @ALazyImmigrantInUS  yep I live like a peasant even though I have 300k+ liquid assets. I would not waste my assets right now on bubbles. =P
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  2. 3x median income for 2 people for 1500 sqft any higher than that for housing is too much. tell the housing industry to fk themselves and build it yourself if they cant do it for 3x median wage x 2 people.
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  3. this is wut you get for using margin loans from stonk to buy housing and then raising rents to pay for mortgage raising people's rents while wages cant support the rent or property values. they all bought 3-5+ houses and they want us to all rent from them instead of building more. too much. its like that stripper in the big short where she has 3-5 homes I wonder how many have 5-10 now? now if people stop paying rents the landlords all go bankrupt. RENTERS STOP PAYING RENT crash the housing markets. DO ET. btw higher HOA fees and property taxes lower the value of the property. lets say you have 500 per month hoa fee thats extra 6k x 30 m that is 180k extra on top of the price of the house factored in. property tax is the same thing florida property tax lets say 2% 400k house is 8k property tax. 240k 240k+180k 420k over 30 yrs after you buy the house and it will continue forever. 14k in rent fees per year after you buy the house. at least most states with high prop tax has no state income tax. Anyway so that 400k house you just bought is actually 820k over 30 yrs. and if mortgage you pay even more. say you paid 100k plus 300k mortgage 18k per yr in interest paid at 6%. 18+14 = 32 k paid for that house. so basically 32k/12 = 2.6k per month you pay over just renting or living in your van until you really need to put down roots and live there long term. unless you have a decent paying job there eg not mcdonalds not retail not min wage not fake jobs then why would you stay in that town. if you meet someone and get stuck because she/he wants you to stay fine but know you will live a life of poverty. please tell me why would you buy that house? good luck paying that off until you're dead.
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