Jacked: Trump Hikes Mortgages With First Move

[TheDude]

funny thread

fact

under obama home ownership fell to a five decade low

WOW

The U.S. homeownership rate fell to the lowest in more than 50 years as rising prices put buying out of reach for many renters.

The share of Americans who own their homes was 62.9 percent in the second quarter, the lowest since 1965, according to a Census Bureau report Thursday. It was the second straight quarterly decrease, down from 63.5 percent in the previous three months.


Homeownership Rate in the U.S. Drops to Lowest Since 1965

Couple reasons for this including policy. While the short-thinker may believe low interest rates would make a purchase more attractive, the result has been a fabricated market with unrealistic values. Fact is the admin. only addressed the issue in the short term, and they created another fragile market as a result.

From my experience most millennials have no desire to CONSERVE their money and buy a home. People are just less responsible than they used to be. Then of course there's over-population and reduction in the standard of living. But you know, open the gates to immigration..........Sure, great idea.

 

[thereisnospoon]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

LYING SACK OF SHIT..
There is no "increase"....The fee remains the same. There is simply no reduction...Nothing has been added. There is no additional cost.
Don't you DARE talk about spin...
Huffington Post...This is an opinion piece disguised as news. And you, the typical lib took the bait like a boated flounder.
Your time is over. You had your way. Shut up. Step aside.
WTF are you doing here. You should be standing in that mess in DC with 500k other delicate snowflakes who cannot accept reality.

 

[OKTexas]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

So the dear leader couldn't resist one more taxpayer give away on his way out the door. And now the regressives say Trump is bad for protecting taxpayers. You fuckers are too stupid to breath.

 

[thereisnospoon]

There has been no hike.

President Obama's rate cut was cancelled by Trump. Therefore - it's a rate hike.

No it isn't. The rates never went up...
This type of lib think is why you assholes lost the White House and you are the minority party in 33 states.
Therefore you have a room temperature IQ....
Guess what? You can insist all you like. It doesn't make a difference. You no longer have a say.

 

[OnePercenter]

No their fees will remain the same......Read

Duh, I did read. Obama's cut will not go into effect. Spin, baby, spin...

Not spin....They never went down ergo there is no added cost

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

Nothing is changing. More money out of pocket for the middle class. How is that good?

Crap wages and a bleak financial future are significant problems for young people.

 

[OnePercenter]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

Right, Obama had no policies, just bandaides, but Trump will rip off these bandaides and fix the markets. When the cost of buying a home goes up, prices tend to go down and when the cost of buying goes down, prices tend to go up. The kind of artificial patches Obama tried to apply to the economy only inhibited market forces and gave us anemic growth. What was good enough for Obama voters has been rejected by Trump voters. Obama and his supporters boast that America survived his eight years in office, but Trump and his supporters are demanding all Americans proper.

More money out of pocket for the middle class. How is that good?

 

[OnePercenter]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

8 years and Obama only initiated the cut in his last couple of days?

Sounds really important. Said no one ever.

Never is a better idea?

 

[OnePercenter]

so now homeownership is a bad thing?

Only for the middle class. We rich/wealthy folks purchase ALL cash.

 

[OnePercenter]

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

If you were promised a $500 raise on January 27...and your new boss cancels it - what would you call it?

A $2,500 a year savings on my healthcare insurance?

Let us know how that works out for ya!

 

[OnePercenter]

Dumb ass you are totally spinning, the cost will be $500 more than than it would be without this reversal by HUD

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

If it were a boss that was using other peoples money to give you that so called raise I would tell you that you are foolish to believe it.

Don't all bosses use OPM to pay payroll?

 

[OnePercenter]

Apparently Trump hates homeowners.

No, Trump hates the middle class.

 

[Manonthestreet]

Seems Fannie and Freddie are in trouble again....

 

[RodISHI]

Article said would drop.....Not did drop.....Nothing changed.....We need a law limiting what outgoing Presidents can do to avoid crap like this.....Millenials bigger prob is lack of jobs and an indentured servitude higher education system

In absence of the offset HUD was planning, increasing interest rates will cost new homeowners that need such coverage an average of $500/year. Now that this offset was removed by Trump's administration people will pay more in interest, which will cost them...wait for it....$500/year.

Repeating your fake news talking point doesn't make it true.

If you were promised a $500 raise on January 27...and your new boss canceled it - what would you call it?

If it were a boss that was using other peoples money to give you that so called raise I would tell you that you are foolish to believe it.

Don't all bosses use OPM to pay payroll?

As many places where ignorance rules these days many do and they think it is perfectly fine to do such with it as its not theirs. Obviously part of the problem with this whole corporate mess that has been created where each and everyone is responsible for the actions of the ignorant masses that have been created..

 

[Kosh]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

More fake news from the far left hack site Huffington Post!

 

[RodISHI]

Seems Fannie and Freddie are in trouble again....

It provides for a means to do some more stripping of the coffers if congress keeps letting this shit go down.

 

[toomuchtime_]

One Of President Trump’s First Acts Will Cost Homeowners Millions Of Dollars

Hundreds of thousands of would-be homeowners will be hit with higher costs.

WASHINGTON ― With what may have been his first presidential order, Donald Trump made it more expensive for working- and middle-class Americans to buy their first homes. The move will increase costs for 750,000 to 850,000 Americans in the next year alone, according to the National Association of Realtors.

The Obama administration had said last week that the Federal Housing Administration would drop the cost of mortgage insurance it sells by almost a third to 0.60 percent. But after Trump took office, the Department of Housing and Urban Development, which oversees the FHA, told lenders the fee cut was off. The reversal of the reduction will mean that homebuyers who borrow $200,000 under the program will see their mortgage insurance fees go up by $500 a year relative to what the Obama administration had ordered, according to figures released by the FHA when the cut was announced.

The reduction was intended to help partially offset the cost of rising mortgage rates and was scheduled to go into effect on Jan. 27. The government sells the insurance in case borrowers default.

More: Jacked: Trump Hikes Mortgages With First Move

$500 a year? This is only the beginning.

Right, Obama had no policies, just bandaides, but Trump will rip off these bandaides and fix the markets. When the cost of buying a home goes up, prices tend to go down and when the cost of buying goes down, prices tend to go up. The kind of artificial patches Obama tried to apply to the economy only inhibited market forces and gave us anemic growth. What was good enough for Obama voters has been rejected by Trump voters. Obama and his supporters boast that America survived his eight years in office, but Trump and his supporters are demanding all Americans proper.

More money out of pocket for the middle class. How is that good?

You need to take a course in economics. Sellers will ask the best price the market can support. That means when cost of buying goes down, house prices go up and when the cost of buying goes up, the prices of houses goes down. In other words, sellers, not buyers, would benefit from Obama's misguide policies and now sellers will have to slightly lower prices to accommodate the market.

 

[bripat9643]

No their fees will remain the same......Read

LOL what part of insurance fees go up by $500 a year did you mis-read?

No one misread the part where it doesn't go up. It stays the same.

 

[OnePercenter]

so now homeownership is a bad thing?

If people are stuck in a shit house with taxes and insurance above what they can afford to live in yes its a bad thing. It is called living within your means.

Thanks to Republicans and greedy business folks, most peoples 'means' are poverty level.

 

[OnePercenter]

Another Lakhota nonsense thread. Working and middle-class Americans are spending 750,000 to 850,000 on their first home? What brand of glue are you huffing?

Not everyone (like you) live in Bug Tussle.

 

[OnePercenter]

so now homeownership is a bad thing?

Would you like another banking crash so you can blame Trump

If he starts deregulating and not policing (like Bush) it will be the worst in the world.