hikingfan
| Favorite team: | USA  |
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| Number of Posts: | 1754 |
| Registered on: | 6/28/2013 |
| Online Status: | Not Online |
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19
quote:
Coming to a McMansion near you...the 50 year mortgage
This is a kick-the-can-down-the-road solution, and we've seen it before in Japan, and it was CRAZY.
In the 80s real estate prices in Tokyo were high, so they started offering 50-year mortgages to make things "more affordable..." if you stretch the loan, the monthly payment looks easier. But it's just extra leverage and we know what happens with leverage...
Prices went insane. At the peak, a single 0.44 square mile parcel in central Tokyo was valued more than all real estate in the entire state of California. The total land value of Japan exceeded that of the entire United States many-fold.
Then the bubble burst, and it was BRUTAL. Prices in Tokyo fell 60 to 80%. Tokyo real estate today is still > 50 percent cheaper than it was in 1989. Many buyers from that era never recovered their equity. Banks spent years holding bad loans, and the broader economy stagnated.
Longer mortgages did not make housing affordable. They made prices higher, slowed down equity accumulation, and left households more exposed when prices fell. The crash was deeper and the recovery was longer because everyone had borrowed too much.
For most people in the US, the house is the retirement plan. At retirement ~75% of the median Americans net worth is their primary residence. The 30 year mortgage aligns with people's lives - it pays down fast enough that they own their home by the time they stop working.
A 50 year mortgage changes that. Equity builds slowly. Leverage stays high. People remain exposed for longer. I like that we are thinking outside the box but this doesn't solve affordability, it hollows out the main wealth-building mechanism for the majority of the population and will have other bad implications IMO
The only solution is to build more! We need supply-side solutions not induced demand, c'mon.
re: Tennessee sheriff jails liberal activist for posting Trump meme; judge sets $2M bond
Posted by hikingfan on 11/8/25 at 6:36 pm to ChineseBandit58
quote:
hmmm - that is certainly one-sided but do not see any illegality = just normal distortions and lies.
The reason you feel that way is because you probably look just like the grandpa on a power trip in the video. You should probably just stick to lsu football discussions.
Savagegeese: Corvette ZR1 vs Mustang GTD vs Porsche 911 GT3RS | Crowning The King
Posted by hikingfan on 11/8/25 at 4:10 pm
quote:
We conduct one of the biggest comparisons of the year: Mustang GTD vs. Corvette C8 ZR1 vs. Porsche 992 GT3RS. We set lap times, dyno the car to test horsepower. With help from Ford, Chevy, and Porsche Engineering, we explain how all of these cars achieve their fantastic performance and the issues with this generation of vehicles.
That Chevy Corvette ZR1 is something else. What a car!
FIFA is going to give out a peace prize to Donald Trump
Posted by hikingfan on 11/5/25 at 7:34 pm
re: Proof that Nick Saban is not coaching again baws
Posted by hikingfan on 11/4/25 at 1:51 am to Ironhead985
He has fully embraced the grandpa look and lifestyle, at least from that video.
Proof that Nick Saban is not coaching again baws
Posted by hikingfan on 11/4/25 at 1:46 am
Does this look like a man that will coach football again?
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If tweet fails to load, click here.Apple gives up on home grown Siri; will be powered by Google's Gemini starting next year
Posted by hikingfan on 11/2/25 at 10:22 pm
New Version of Siri to 'Lean' on Google Gemini
Apple is reportedly paying Google to build a custom Gemini-based model that runs on its Private Cloud Compute servers to power Siri. Apple plans to roll out the revamped Siri around March next year, possibly with an AI-powered web search feature.
Apple is reportedly paying Google to build a custom Gemini-based model that runs on its Private Cloud Compute servers to power Siri. Apple plans to roll out the revamped Siri around March next year, possibly with an AI-powered web search feature.
Nick Saban vs. Brian Kelly on substandard wins
Posted by hikingfan on 11/2/25 at 12:37 am
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If tweet fails to load, click here. I knew right after that press conference vs. Florida that Brian Kelly might not be the guy that will take us to the promised land. I could just feel it. And boy, did things turn around quickly. Lol.
I don't mind Ed O as an interim HC to finish off the season
Posted by hikingfan on 10/26/25 at 5:56 pm
He'd probably do it happily too. Probably the perfect role for him.
Otter attacks surfer, steals surfboard in Santa Cruz, CA
Posted by hikingfan on 10/26/25 at 12:13 am
New Orleans waste management project brings lemon fresh scent to streets
Posted by hikingfan on 7/20/25 at 7:59 pm
quote:
An iconic area in New Orleans got a fresh new scent after a waste management operation delivered a lemon scent throughout the neighborhood. NBC News' George Solis talks to some of the residents about the zesty new smell.
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