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Old 10-09-2018, 07:29 AM
 
64,587 posts, read 66,129,695 times
Reputation: 43008

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it has nothing to do with agreeing or disagreeing . there is nothing you , i or anyone else here can do about things . the only thing we can do is play the cards we are dealt .

that means just nudging things a bit as the big picture shifts , if in fact it does . end of story .

things not under our direct control are useless to worry about . we can be concerned but this daily "it is going to rain "weather forecasting become nonsensical after a while .
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Old 10-09-2018, 07:32 AM
 
4,147 posts, read 4,547,520 times
Reputation: 3567
What should be my plan of action on a new mortgage? More money down or buy points to lower the rate?

I plan to stay in the house long term.
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Old 10-09-2018, 07:41 AM
 
95 posts, read 38,202 times
Reputation: 222
Quote:
Originally Posted by EDS_ View Post
1). How's the economy fake? How are the numbers faked?
2). There's lots to lose listening to Schiff. He's faced numerous lawsuits from investors for being so wrong for so long.

If he was so right about the great recession housing bust how come many of his clients lost 50%+ in '08 and '09?
Do your homework and never mind Peter Schiff. I'm not advocating Schiff at all; however, as someone wrote "a clock is right twice a day" well, it's Schiff's turn to be right. He did predict the 2008 crisis. Schiff's company "Euro Pacific" is NOT about short-term gains. There might be short-term gains with some stocks, but this economic climate is anything but predictable short term, investors must be prepared to hold for several years. So yes, those interested in "short term gains" will probably lose. Still, there are many others who "get it on the money." I'm not going into all of them here. Do your homework and find out "what's REALLY" going on and save yourself, your family, and your wealth. Good Luck....!
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Old 10-09-2018, 08:23 AM
 
7,283 posts, read 8,120,225 times
Reputation: 5375
Quote:
Originally Posted by Propop View Post
It's not just Schiff making the quotes. As I wrote earlier "Schiff did ACCURATELY predict the 2008 crisis." It's many others who have been "right on the money." Many,many financial experts, historians, economic strategists and others...see the "writing on the wall." Do as you please...but when the SHTF (you can see by all the 1000s of store closings never mind countries around the world are dropping the dollar and those worthless dollars will come back to US shores wrecking havoc. In addition, the dollar as the reserve currency is slipping away...bye...bye free money. The PetroYuan is giving competition to the PetroDollar. Countries are halting keeping US dollars as a reserve currency 1st of all because they don't have to now they have the courage to use other currencies and 2nd because the US has been using the dollar as a weapon, i.e. sanctions) In fact, they (the east and emerging markets) now have an alternative to the SWIFT system that the US dollar and the west use.

The US is being isolated...! And as the US dollar becomes less desirable how are stores for example, going to pay for goods? They won't use the US dollar because it's nothing but an IOU. The free ride is just about over. The...economy...is...fake! The...numbers...are...fake! You think they are going to come right out on the main stream news and tell the people "we are in dire straits people and you'd better start prepping." You think they want to panic over 300 million people? They are NOT telling you the truth about the economy. Even the wealthy are preparing. Anyway....don't say you weren't warned....Those who took the time to prepare will be glad they did...and those who didn't, well, you were warned...! Oh, by the way...don't just disagree. Do your homework...! Good Luck Folks..!
Fail.
The USD accounts for around 65% of all known central bank foreign reserves (some central banks don't report). The Euro is next at about 20%. The Yuan less than 2%, that behind the yen, pound, AUD and CAD.

We are a nuclear war or concentrated space-alien attack away from the dollar losing supremacy.
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Old 10-09-2018, 08:28 AM
 
7,283 posts, read 8,120,225 times
Reputation: 5375
Quote:
Originally Posted by Propop View Post
Do your homework and never mind Peter Schiff. I'm not advocating Schiff at all; however, as someone wrote "a clock is right twice a day" well, it's Schiff's turn to be right. He did predict the 2008 crisis. Schiff's company "Euro Pacific" is NOT about short-term gains. There might be short-term gains with some stocks, but this economic climate is anything but predictable short term, investors must be prepared to hold for several years. So yes, those interested in "short term gains" will probably lose. Still, there are many others who "get it on the money." I'm not going into all of them here. Do your homework and find out "what's REALLY" going on and save yourself, your family, and your wealth. Good Luck....!

I have a Ph.D in economics ergo I'm more or less always doing my homework.

What's really going on isn't what you and the other fact-bending chicken littles are selling.
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Old 10-09-2018, 08:32 AM
 
7,673 posts, read 11,281,660 times
Reputation: 15249
Quote:
Originally Posted by MadManofBethesda View Post
Even if someone is stuck paying PMI at the outset, in many cases it can be eliminated once your equity is over 20%. Even if you don't refi, you wouldn't be stuck paying it for the entire length of the loan.
Quote:
Originally Posted by Electrician4you View Post
It’s a little more complicated than what you wrote to remove PMI. N some cases you need to refi to get rid of it. And if the rate is higher than what your present payment is you’re not gonna refi.
First of all, you do understand that when I wrote "in many cases", that by definition that means that "some cases" are outside of the subset, right?

Secondly, it is most definitely not more complicated than what I wrote. As I stated, once you have 20% equity, PMI can be eliminated in many cases. At 22% (78% LTV), mortgage companies are required by law to eliminate PMI in all cases. This has been the law for 20 years.

Your statement that people have to refi to get rid of PMI or risk being stuck paying it for the entire term of the mortgage loan is 100% false, and has been false for two decades.

Welcome to the 21st Century.
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Old 10-09-2018, 08:51 AM
 
64,587 posts, read 66,129,695 times
Reputation: 43008
Quote:
Originally Posted by EDS_ View Post
Fail.
The USD accounts for around 65% of all known central bank foreign reserves (some central banks don't report). The Euro is next at about 20%. The Yuan less than 2%, that behind the yen, pound, AUD and CAD.

We are a nuclear war or concentrated space-alien attack away from the dollar losing supremacy.
you are ruining some good story lines . never let facts get in the way of good stories .
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Old 10-09-2018, 08:59 AM
 
95 posts, read 38,202 times
Reputation: 222
Quote:
Originally Posted by EDS_ View Post
Fail.
The USD accounts for around 65% of all known central bank foreign reserves (some central banks don't report). The Euro is next at about 20%. The Yuan less than 2%, that behind the yen, pound, AUD and CAD.

We are a nuclear war or concentrated space-alien attack away from the dollar losing supremacy.
Quote:
Originally Posted by EDS_ View Post
I have a Ph.D in economics ergo I'm more or less always doing my homework.

What's really going on isn't what you and the other fact-bending chicken littles are selling.
BWAHAHA..you don't have to resort to name calling, it's not becoming of a so-called Ph.D holder. Did you read my post? I wrote that "countries are STARTING TO DROP the US dollar as a reserve currency." Your claim to having a Ph.D in economics count for nothing going by your post. It's absolutely naive to think that ANY country will remain the reserve currency. At one time Egypt had the reserve currency, Spain was the reserve currency, Greece was the reserve currency, France was the reserve currency. The US dollar replaced the British pound sterling as the world's premier reserve currency around 1945. Reserve currencies come-and-go. The dollar is no different.

The dollar's share of global FX reserves has fallen from 72% in 1999 to 62% today. If you know your economic history, at one time the pound sterling made-up roughly 64% of the world's FX reserves in 1899. It had fallen to around 48% by 1913. China has been the largest contributor to world growth since 2008's global financial crisis. Whether you like it or not...things are changing. There's no need for me to go back-and-forth with you about the obvious. What you must do is prepare...if not, don't whine when the SHTF. Keeping your head in the sand won't make things go away and won't help you. GOOD LUCK and GOOD BYE!

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Old 10-09-2018, 09:05 AM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,549 posts, read 14,051,705 times
Reputation: 9663
I don't see what everybody is arguing about. An increase in the prime causes an increase in all lending rates, including mortgage rates. When mortgage rates rise fewer people are able to afford mortgages so there are fewer buyers in the housing market. Fewer buyers increases days on market and increases supply. If the situation is extreme then housing prices will fall. At the present time IMO the prices will simply increase at a slower rate. I don't believe that we have reached the point where interest rates are going to cause a decrease in valuation. Note also that real estate markets are local so different areas will experience different trends. The recent increase will hit slow markets harder, and in these areas prices may in fact fall, desperate sellers needing to get out. Brisk markets may experience only trivial effects.
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Old 10-09-2018, 09:27 AM
 
2,768 posts, read 1,496,259 times
Reputation: 2172
Quote:
Originally Posted by Propop View Post
BWAHAHA..you don't have to resort to name calling, it's not becoming of a so-called Ph.D holder. Did you read my post? I wrote that "countries are STARTING TO DROP the US dollar as a reserve currency." Your claim to having a Ph.D in economics count for nothing going by your post. It's absolutely naive to think that ANY country will remain the reserve currency. At one time Egypt had the reserve currency, Spain was the reserve currency, Greece was the reserve currency, France was the reserve currency. The US dollar replaced the British pound sterling as the world's premier reserve currency around 1945. Reserve currencies come-and-go. The dollar is no different.

The dollar's share of global FX reserves has fallen from 72% in 1999 to 62% today. If you know your economic history, at one time the pound sterling made-up roughly 64% of the world's FX reserves in 1899. It had fallen to around 48% by 1913. China has been the largest contributor to world growth since 2008's global financial crisis. Whether you like it or not...things are changing. There's no need for me to go back-and-forth with you about the obvious. What you must do is prepare...if not, don't whine when the SHTF. Keeping your head in the sand won't make things go away and won't help you. GOOD LUCK and GOOD BYE!


JC already- Please stop posting in bold. You just aren't that important LOL.
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