<b>Who disagrees...</b>
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내용이 좀 지나치게 표현한 경향도 있지만, 주택구입에 관심있는 분들에게 도움될 내용이 많습니다. 시간이 나실때 끝까지 읽어 보세요. 재밋습니다. (Realtor 님들이 읽으면 분통 터지겠지만^^)
http://patrick.net/housing/crash.html
WHO DISAGREES that house prices will continue to fall? Real estate related businesses disagree, because they don't make money if buyers do not buy. These businesses have a large financial interest in misleading the public about the foolishness of buying a house now.
Buyers' agents get nothing if there is no sale, so they want their clients to wildly overbid, the exact opposite of the buyer's best interest. Realtor(TM) is a commercial term, not a real word.
Mortgage brokers take a percentage of the loan, so they want buyers to take out the biggest loan possible.
Appraisers need mortgage brokers for their business, so they are going to give the appraisals that brokers and agents want to see, not the truth.
Banks get origination fees but have been selling their mortgages, so they take no risk. They do not care about the potential bankruptcy of borrowers, so they will lend far beyond what buyers can afford. Banks sell most loans to Fannie Mae or Freddie Mac. The conversion of low-quality housing debt into "high" quality Fannie Mae debt with the implicit backing of the federal government is the main support for the housing bubble. That is going to end as Fannie Mae shrinks.
Newspapers earn money from advertising placed by Realtors(TM), so papers have a strong motive to publish the Realtors'(TM) unrealistic forecasts. The San Jose Mercury News has stopped publishing the usual colored map showing areas where the median prices have been up or down. It would be too embarrassing to the Realtors(TM) to show what's really happening right now.
Owners themselves do not want to believe they are going to lose huge amounts of money.
What are their arguments?
"There are great tax advantages to owning."
FALSE. It is now far cheaper to rent a house in the San Francisco Bay Area than it is to own that same house, even with the deductibility of mortgage interest figured in. It is possible to rent a good house for $1800/month. That same house would cost at least $600,000. Assume 6% interest ($3000 per month), $2000 closing costs, and note that a buyer loses $770 more per month buying than renting. Renting is a loss of course, but buying is a much bigger loss.
Renting:
Monthly Rent: $1,800.00
Buying:
Property Tax: $400.00 ($625 per month at 1.25% before deduction, $400 lost after deduction)
Interest: $1,920.00 ($3000 per month at 6% before deduction, $1920 lost after deduction)
Other Costs: $250.00 (insurance, maintenance, etc)
Total: $2,570.00
http://patrick.net/housing/crash.html
WHO DISAGREES that house prices will continue to fall? Real estate related businesses disagree, because they don't make money if buyers do not buy. These businesses have a large financial interest in misleading the public about the foolishness of buying a house now.
Buyers' agents get nothing if there is no sale, so they want their clients to wildly overbid, the exact opposite of the buyer's best interest. Realtor(TM) is a commercial term, not a real word.
Mortgage brokers take a percentage of the loan, so they want buyers to take out the biggest loan possible.
Appraisers need mortgage brokers for their business, so they are going to give the appraisals that brokers and agents want to see, not the truth.
Banks get origination fees but have been selling their mortgages, so they take no risk. They do not care about the potential bankruptcy of borrowers, so they will lend far beyond what buyers can afford. Banks sell most loans to Fannie Mae or Freddie Mac. The conversion of low-quality housing debt into "high" quality Fannie Mae debt with the implicit backing of the federal government is the main support for the housing bubble. That is going to end as Fannie Mae shrinks.
Newspapers earn money from advertising placed by Realtors(TM), so papers have a strong motive to publish the Realtors'(TM) unrealistic forecasts. The San Jose Mercury News has stopped publishing the usual colored map showing areas where the median prices have been up or down. It would be too embarrassing to the Realtors(TM) to show what's really happening right now.
Owners themselves do not want to believe they are going to lose huge amounts of money.
What are their arguments?
"There are great tax advantages to owning."
FALSE. It is now far cheaper to rent a house in the San Francisco Bay Area than it is to own that same house, even with the deductibility of mortgage interest figured in. It is possible to rent a good house for $1800/month. That same house would cost at least $600,000. Assume 6% interest ($3000 per month), $2000 closing costs, and note that a buyer loses $770 more per month buying than renting. Renting is a loss of course, but buying is a much bigger loss.
Renting:
Monthly Rent: $1,800.00
Buying:
Property Tax: $400.00 ($625 per month at 1.25% before deduction, $400 lost after deduction)
Interest: $1,920.00 ($3000 per month at 6% before deduction, $1920 lost after deduction)
Other Costs: $250.00 (insurance, maintenance, etc)
Total: $2,570.00
작성일2005-12-01 23:05
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