Comments by "Robert Rochester" (@RARochester) on "CNBC Television" channel.

  1.  @cripmo425  People cannot be approved because affordable housing is drying up by the day. People who could get a loan last year with the same financials are priced out because both the home prices and interest rates increased. There will not be a crash or correction; as a realtor yourself, I'm sure you're aware that loans taken out were fixed and not adjustable. Those folks are staying put which keeps supply of homes OFF the market and as a realtor yourself, you are aware that historically people would move every five years, well that's not happening anymore because if people were to move their property tax would go up because of the increase in home value thus leading to an increase in homeowners insurance; people are not moving or switching which keeps supply OFF the market. Builders and GC's have no interest in building affordable units because there is such little profit so they ( GC's ) build the high end homes because profit margins are higher and it's a better return on materials and supplies that are in short supply. Further, as a builder, why would you build more homes bringing more supply to market thus driving down prices ? Why build ten homes and make a $100,000.00 profit when you can build three and make the same $100,000.00 profit because of scarcity ? Which in and of itself is price manipulation. According to RedFin; the housing supply is 4 million units short of what's needed; you can't build your way out of that with a bottleneck in the supply chain. What's more, supplies and materials will cost more in the future not less. Demand for housing will only increase because ALL of those students in college will be looking for housing upon graduation and will be competing with the thirty year olds that are already in the market. The folks that no longer qualify for a loan will regress back to the rental market thus driving up or maintaining the rentals prices because they can afford to write a check for twelve months rent up front. If you were a property manager you're going to take that $24k ( $2000.00 a month ) and put those funds in an interest ( escrow ) bearing account and make free money and telling the first, last and security crowd ( $6000.00 ) to look elsewhere. You are in for a serious reality check; the last bus has already left and you're sitting there waiting for another to show which isn't coming.....
    2
  2.  @bobblacka918  If he walks away he'll not be able to qualify for loan for at least several years and the foreseeable future; having a foreclosure on your record is DISASTROUS. I assure you he will NOT be getting that other house that you mentioned..........
    1
  3.  @bobblacka918  🤣🤣tell that to the tooth fairy. In most cases; both people are listed on the loan ( it's easier to qualify ); what's more the partner would be receiving mail at the same address; both would be screwed.
    1
  4.  @markhirstwood4190  The reasons you listed to sell are some of the same reasons to buy.........people buy distressed properties all the time; sometimes the seller is desperate to sell. Nobody will pass up a good deal in any economy.
    1
  5.  @bobblacka918  A perfect example of an idiot that ended up with a foreclosure on his record and a perfect example that people will buy if there's a deal to be had; whenever or wherever you go the question is : Do you have an eviction or foreclosure on your record ? No one with a 2.5% rate is going to dump his property because the house across the street sold for less; that happens in every economy with regard to home prices. In your case; you should have bought the property even if it meant taking out a home equity loan. The doctor is a doctor for a reason; he's smart.
    1
  6.  @cripmo425  I live in Boca Raton, Florida and prices are going through the roof; the sunbelt is the the desirable area of the country. But, my question is what theories are you talking about ? Fact (1) more people are qualifying utilizing fixed rates when it comes to obtaining a mortgage not ARM's; fact (2) there are 4 million housing units short across the nation ( according to RedFin ); fact (3) millions of new graduates will need a place to live; they either move back in with Mom and Dad or they rent; I could go on and on but I'm not going to take your hope away. I've already addressed why homes are sitting on the market due to fewer qualified buyers; these homes will be converted to rentals soon enough and what is double ? Two weeks instead of one on the market ? Record prices drops ?? Sure, that's because the free market is at work; these homes were already overpriced to begin with so now they are regressing back to more realistic prices. Keep waiting........
    1
  7.  @mic4902  I read two sentences of this diarrhea and that’s it.
    1
  8. That's it in a nutshell.
    1
  9. Even in the case of a job transfer; just rent the place out.
    1