@jameshoang7@financedystop I've bought a couple houses at auction. Before I ever raised my hand I went to a lot of them. The only person that can screw you over is you. Practice counts. It was my experience that some guys go and overpay regularly, they just have to win. 50% were regulars.
@cecegkh I was born in 1972, I lived at the mouth of a river into the ocean in Massachusetts. At 7 years old I was given a 10' aluminum boat with a 5hp motor. This was my babysitter. If I was responsible with the boat I kept it. Try that now.
We've always known that Generation X is a unique breed. Listen to this guy explain it perfectly—it all makes complete sense.
We now live in a world that feels completely foreign compared to the way we were raised.
@MilaLovesJoe If I just listened to the audio and had @grok create the person based on what I thought she looked like it would have been exactly the same video.
@WallStreetApes Also, every mortgage comes with a Ferrari. Either you get a 15 year mortgage and keep it or you get a 30 year loan and buy one for the bank.
American bought an average home in Southern California, nothing fancy. The purchase price was $653,000
- They put down 20%, $131,000 down, to avoid paying PMI
- Monthly principal payment is $1,913.71
- Monthly interest payment $2,285.22
- Monthly taxes $955.78
- Her total monthly payment is $5,154.71 a month for a normal house
“That is crazy. That is so crazy
— There's something wrong. The system is broken. There is something wrong”
The interest rate is 5.25% over 15 years
Home ownership is being eliminated in America. Taxes and interest alone on this payment is $3,241
Absolutely insane
@WallStreetApes Please everyone, download a mortgage app so you can speak about this stuff correctly. That interest payment was high for this month. It'll drop every month until the last month when it'll be like $4. Principle goes up by the same number that interest goes down.
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