Half The Country's Mortgages Are Underwater

Quote from stock777:

im not interested in bailing them out. everyone has their hand out
pitch a freaking tent, and live in that if you cant pay the rent
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You might not be interested, but as long as Fannie Mae and Freddie Mac continue to exist as GSE's and continue to get money from the government you, me and everybody else are already bailing out homeowners, and we all will continue to do it for a long time coming.
 
Quote from EMRGLOBAL:

This is a HUGE opportunity for people with money to go in and buy some property.

Rental Property.

I'm doing it, a lot of people are buying up Homes and renting them.
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the landlord business is not for everyone. it's a headache dealing with tenants. and in texas, where land is cheap and they're constantly building, your rental unit will be outclassed by newer units very soon.

also don't forget about the cost of wear and tear. i found that rental properties wear down 5 times faster than the house i live in. tenants don't give a shit about the carpet, walls or appliances.

i was a landlord for many years. IT SUCKS ASS
 
Quote from blackjack007:

the landlord business is not for everyone. it's a headache dealing with tenants. and in texas, where land is cheap and they're constantly building, your rental unit will be outclassed by newer units very soon.

also don't forget about the cost of wear and tear. i found that rental properties wear down 5 times faster than the house i live in. tenants don't give a shit about the carpet, walls or appliances.

i was a landlord for many years. IT SUCKS ASS
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I agree being landlord can be very stressful, where i live in ny the tenant owns your ass. With that being said my good friend is doing well in nashville, he switched from res to commercial. He has problems there but he is amazed at how much more honest the people of tennessee are.
 
Quote from oldtime:

bullshit, how many of those owners refinanced at the top? Nobody that put 20% down and faithfully has paid their mortgage every month for the last 10 years is underwater.
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some may have very little equity and may be close to that watermark....10 years ago is not far back enough.
 
Quote from Mercor:

The dividing line is around the year 2000.
If you bought a home pre-2000 your home is probably still worth more then you paid.
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exactly...2000 is when it started sloping up
 
Quote from ElCubano:

exactly...2000 is when it started sloping up
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well, the guy who instead of buying put his 20% down all in the stock market after 2000, isn't doing much better. Depending on what day he bought.
 
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