View Poll Results: Mortgage paid off?
Yes and I am <40 yrs old
6
8.22%
Yes and I am 40-50
9
12.33%
Yes and I am 50-60
12
16.44%
No, less then 5 years to go
3
4.11%
No, less then 10 years to go
10
13.70%
No, don’t care, has no priority, rather invest
33
45.21%
Voters: 73. You may not vote on this poll
Primary residence paid off?
#51
Line Holder
Joined APC: Mar 2022
Posts: 58
Wrong. Stashing $500k in a mutual fund and making $50k passively for the rest of my life feels better.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
#52
Occasional box hauler
Joined APC: Jan 2018
Posts: 1,673
Wrong. Stashing $500k in a mutual fund and making $50k passively for the rest of my life feels better.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
#54
Wrong. Stashing $500k in a mutual fund and making $50k passively for the rest of my life feels better.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
Throwing that money away into paying off a low or no % down property (FHA or VA loan especially) is a waste. You're literally losing almost $50k/yr by doing that, that's a bad feeling.
#56
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.
#57
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,152
If one refinanced their home at say, 3% and taking their difference putting it in the markets is a long term (30 years or so) investment decision. The drop in the markets is short term. The markets will be coming back to new highs in the not too distant future. They always have, no matter how negative you feel right now.
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.
The problem is people are emotionally driven, short sighted. They sell at a low point, and then panic and buy at a higher point.(Buy high, sell low, make emotionally driven stupid buying decisions.)
Refinancing at higher percentage, say, 5% has pretty well come to a halt. One does not refinance a 4% mortgage at 5%.
We will be deep in a recession before inflation's under control. I don't expect the Fed to stop tightening until mid-2023 at the earliest so that's the earliest I see the markets starting to recover.
I am hoping that the S&P can hold 2500, but have my doubts. That's another 1/3 whacked off the value of the S&P.
#59
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,152
Kind of like not too distant future. The neutral Fed funds rate is in excess of 6% based on current inflation rate and in order to lower inflation, the Fed has to go beyond the neutral rate. If they do 75BPS every Fed meeting, it's going to take a very long time to get above neutral rate. I'd prefer to see a few increases of >100BPS to get the inflation rate down.
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