Quote:
Originally Posted by Gridlock
Yeah ok what?
Why else do we have a problem? Because we went to a 40 year fucking mortgage people. It was 25 forever..then suddenly 40 years.
You have a problem.
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It really annoys me when the fckers in the real estate industry say we shouldn't be dropping the amortization back to 25 years, and how the change in mortgage rules last year is causing this slowdown.
25 years is just moving it back to what it was originally. It boggles my mind that people would approve someone buying a 450 square feet condo and be paying it off for the next 40 years. Honestly, if you can't afford to pay off your property in 25 years, dont buy!