Quote:
Originally Posted by McSpike
Oh no...!
Here we always had 30%+ down, that's why we don't have the foreclosure BS going on in the states. Way less toxic loans. You actually need a bit more to insiure the loan here rather than just a property alone, but hey, who told you to go buy a 400k property if you can't find insurance for that other 30%. Think banks are stupid and should just lend like there's no tomorrow? We all saw how that worked fine.
And 90k turning into 300k in 7 years while you are incapable of coughing up 90k? Wow... Turbo loan wishes, turbo profit wishes... fucking nice. Let the financial gods have mercy on you.
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foreclosures situation in USA happened cause banks were giving out stupid loans. . You have 20% to put down and most likely your getting the mortgage as long as you have good credit.
I don't believe home prices will rise for 5 to 10 years. Historically the stockmarket goes up while real estate tanks. There have been similar periods like the late 80's till late 90's. If you bought real estate and sold it in that period most likely you lost money. On other hand stockmarket skyrocketed. If you were heavily invested then you did very very well.
I believe where in that same type of period. And wait till Obama loses the next election. And if the stockmarket thinks Obama will lose the next election alot of people will start investing in the us markets again.