A Boring Dystopia

9757 readers

188 users here now

Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

Rules (Subject to Change)

--Be a Decent Human Being

--Posting news articles: include the source name and exact title from article in your post title

--Posts must have something to do with the topic

--Zero tolerance for Racism/Sexism/Ableism/etc.

--No NSFW content

--Abide by the rules of lemmy.world

founded 1 year ago

MODERATORS

givesomefucks@lemmy.world

310

Housing market affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase from July onward (finance.yahoo.com)

submitted 1 year ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

47 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] ultratiem@lemmy.ca -2 points 1 year ago (1 children)

I mean they are literally just taking your money and telling everyone it’s a good thing. Fucking wild man. My buddy has a second property that went up from $1700 a month to $2700. Insane. That some private entity can one day decide people have too much money and just literally take it.

And capitalism is the way???

[–] Alexstarfire@lemmy.world 5 points 1 year ago (2 children)

There seems to be a lot of context missing because this does not make sense. A private entity has no say in what you pay after you purchase a property. Unless there is a private entity doing tax assessments. Which I'm hoping would be extremely unusual but I'm only familiar with the process in my area.

[–] jeffw@lemmy.world 4 points 1 year ago (1 children)

ARMs can go up. Generally not a great mortgage to get

[–] Alexstarfire@lemmy.world 3 points 1 year ago

That has nothing to do with private entities.

[–] felixthecat@lemmy.whynotdrs.org 2 points 1 year ago (1 children)

Probably the payment went up because of the taxes or insurance. Or maybe they didn't have an escrow account and didn't pay taxes or insurance and it was force placed.

If you have a variable rate it could also go up for that reason. But most people when rates were low had fixed rate mortgages.

[–] uranibaba@lemmy.world 1 points 1 year ago (1 children)

Could be fixed rate that expired and had to be renewed, but with a new rate.

[–] Alexstarfire@lemmy.world 1 points 1 year ago (1 children)

In the US a fixed rate does not expire. At the end the loan has been repaid. I do not know of they are in the US.

[–] uranibaba@lemmy.world 2 points 1 year ago (1 children)

How does that work? You take a loan, negotiate a rate (say 3%) upfront, and you have this rate as long as the loan is not payed?

[–] Alexstarfire@lemmy.world 2 points 1 year ago (1 children)

Yes, though I'm not sure what you mean by not paid. You have monthly payments for the loan.

[–] uranibaba@lemmy.world 1 points 1 year ago (1 children)

I meant payed off.

So if I borrow $100.000 at 3% interest rate, I will 3% for the entire duration of the loan? Even if FED increased the rates to something else?

[–] Alexstarfire@lemmy.world 2 points 1 year ago

Yep. That's why people who got these historic low rates are going to be very resistant to moving. Myself included.