Mortgage rates back to 7%

[King Sun]

I don’t get this. How they gonna jack up property taxes like 50% out of nowhere?

This whole country is a goddamn mafia.

So my house specify was a flip in the house but its on the come up so when I bought the house it was for the taxes pre reno. This house was fukked up but they gutted it to the studs so they came out in 22 and peeped how the house looked and boom. shyt is a bracket because most of the people in my neighborhood won't be able to to afford that increase because most of them are older black people SSI on a fixed income. Whole block about to be cacs in a min

 

[DonB90]

New Rule Could Give House Lawmakers a Tax-Free $34,000 Pay Bump (Published 2023)

Late last year, members quietly changed House rules to allow lawmakers to be reimbursed for the cost of lodging, food and other items while on official business in Washington.

www.nytimes.com

New Rule Could Give House Lawmakers a Tax-Free $34,000 Pay Bump​

Late last year, members quietly changed House rules to allow lawmakers to be reimbursed for the cost of lodging, food and other items while on official business in Washington

Call your local Congessmen for assistance maybe they can draft a bill other then that eat some rocks or something I don't know what to tell ya.

 

[IIVI]

$4k for a 1 bedroom rent at this spot in Culver City

ARQ Apartments

Soaring 31 stories into the sky, ARQ is a landmark development of stunning new luxury residences in one of Los Angeles' most dynamic emerging neighborhoods.

arqatcumulus.com

Last I check it was clearing $3k for a studio. Nearly every time I drive by this thing I just think of all the out-of-towners really penny pinching to live at a studio there.

Additionally:


I was talking with one of my co-workers who's leaving LA. Dude makes over $100k/year, been working here for nearly 7 years and has zero to show for it (don't know if he made over $100k each year, chances are no because the company is cheap).

It seems crazy, but when you do the math:
After taxes that $100k is really about $60k.
$2k/month for rent = $24k (counting utility and internet)
So you really at around $40k/year after keeping that roof over your head, in LA.
Then take away food and gas which comes out to be about ~$700/month, not counting the extra trips or dinners out = -$8k
Not counting extra shyt like car note, car maintenance, random expenses that pop up, in-app payments, subscriptions, your phone bill and data plans, etc.

Now imagine if you're the cat who thinks they're balling in LA with a $100k salary so you get that $3k studio in those apartments I mentioned earlier.
So first start off by getting real and find the true income: $100k - $37k for taxes = $63k left.
$3k/month for rent along with another $300 for internet and utilities = -$40k for the year.
You now have $23k left for the rest of the year to spend on food, gas and hygiene needs. That's less than $2k a month to live off.
That's how people go paycheck-to-paycheck in LA at $100k/year.

 

[Youhadasparkwhenustarted]

We're witnessing in real time the absurdity of commodifying a basic need.

 

[Remote]

First chip[ to fall is going to be commercial real estate due to people working remote and not wanting to be in a office and companies not seeing the value in buildings that cost millions to run every year.

There was a video on CNBC (I think) a year ago…maybe two…where this guy was talking about commercial real estate being overvalued.

And companies/banks were taking loans based on those inflated assets.

That really could be a major problem.

 

[AAKing23]

“Bu But why aren’t men getting married and starting families"

 

[BigMoneyGrip]

 

[Remote]

I was talking with one of my co-workers who's leaving LA. Dude makes over $100k/year, been working here for nearly 7 years and has zero to show for it (don't know if he made over $100k each year, chances are not because the company is cheap).

It seems crazy, but when you do the math:
After taxes that $100k is really about $60k.
$2k/month for rent = $24k (counting utility and internet)
So you really at around $40k/year after keeping that roof over his head, in LA.
Then take away food and gas which comes out to be about ~$700/month, not counting the extra trips or dinners out = -$8k
Not counting extra shyt like car note, car maintenance, random expenses that pop up, in-app payments, subscriptions, your phone bill and data plans, etc.

It’s hard when people break it down.
They just hear “70k” or “100k”

Whatever the numbers are. Great salary.
But when you start chipping away with the expenses…and you didn’t even mention kids, wife/girlfriend, student loans, credit cards, etc…

It’s rough out here.

 

[Wild self]

We're witnessing in real time the absurdity of commodifying a basic need.

But TLRepublicans defend absurd rent prices and mortgage rates that were crafted for the wealthy.

We need guillotines and machetes and rocket launchers to stop this shyt from going up.

 

[Remote]

But TLRepublicans defend absurd rent prices and mortgage rates that were crafted for the wealthy.

We need guillotines and machetes and rocket launchers to stop this shyt from going up.

It’s crazy how I’ll watch a PBS documentary on the gilded age of the late 1800s and we are still having the exact same economic issues that they had way back then.

We really don’t learn shyt.

 

[Wild self]

It’s crazy how I’ll watch a PBS documentary on the gilded age of the late 1800s and we are still having the exact same economic issues that they had way back then.

We really don’t learn shyt.

Landlords are living in their Golden Age and dont want the money train to,stop.

 

[Michael's Black Son]

Sheesh.

I got in at 2.8ish % in early 2021 and felt some kinda way that the fekking mortgage dude couldn’t slide me in at something lower.

That 7% is fukkin sales tax prices in some states

 

[1thouwow]

In the process of planning a move next year out to San Diego and seriously considering renting over buying with the ridiculously high rates.

Current homeowner, but going back to renting at that lower rate isn’t sounding half bad right about now.

How long do you plan to live in San Diego?

 

[jwinfield]

$4k for a 1 bedroom rent at this spot in Culver City

ARQ Apartments

Soaring 31 stories into the sky, ARQ is a landmark development of stunning new luxury residences in one of Los Angeles' most dynamic emerging neighborhoods.

arqatcumulus.com

Last I check it was clearing $3k for a studio. Nearly every time I drive by this thing I just think of all the out-of-towners really penny pinching to live at a studio there.

Additionally:


I was talking with one of my co-workers who's leaving LA. Dude makes over $100k/year, been working here for nearly 7 years and has zero to show for it (don't know if he made over $100k each year, chances are not because the company is cheap).

It seems crazy, but when you do the math:
After taxes that $100k is really about $60k.
$2k/month for rent = $24k (counting utility and internet)
So you really at around $40k/year after keeping that roof over his head, in LA.
Then take away food and gas which comes out to be about ~$700/month, not counting the extra trips or dinners out = -$8k
Not counting extra shyt like car note, car maintenance, random expenses that pop up, in-app payments, subscriptions, your phone bill and data plans, etc.

The thing with Cali is that by law, for property tax purposes, a property’s base value is frozen at the last purchase price, with an annual increase capped at 2%, so people that have owned their homes for a long time are winning.

 

[jwinfield]

Sheesh.

I got in at 2.8ish % in early 2021 and felt some kinda way that the fekking mortgage dude couldn’t slide me in at something lower.

That 7% is fukkin sales tax prices in some states

Got in at 2.75 in June 2021.

My shyt at 7 would be like an extra $900