Donald Trump: Why Now Is The Best Time Ever to Buy a House

I took Donald Trumps advise tellling me too contact my home mortgage company, which is Wells Fargo. They did lower my payment for 4 months. Then they came back saying that I owed them $3000.00 which was $943.70 a month, and my payment would be the same as it was, BUT they have added the late fee every month..... which is #$%$.... Now my credit is GONE. They took my credit and everything I ever worked for. WHAT DO I DO DONALD?????????????????????

I have purchased 13 homes in my life. This year, I purchased a new home. I put 50% down, have a 812 crdit score, no other debt and my payment is 11% of my income. Yet, this mortgage was the most difficult I have ever had to obtain. The banks simply do not want to loan, regardless of your financial position.

The biggest problem is property taxes. The US homeowner now finances the government through property taxes. In reality, you never own your home free and clear.

The US Problem in a Nutshell

* U.S Tax revenue: $ 2,170,000,000,000
* Fed budget: $ 3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $ 14,271,000,000,000
* Recent budget cut : $ 38,500,000,000

Now let's remove 8 zeros and pretend it’s a household
budget.

* U.S Tax revenue: $ 21,700
* Fed budget: $ 38,200
* New debt: $ 16,500
* National debt: $ 142,710
* Recent budget cut : $ 385

Rates are low , prices are low .. not something that we've seen in the past 40 yrs. What else do you need to know. If you're trying to time the market like many stock market losers ... you too may lose again

confucious say.......follow sheep........you get slaughtered

it's funny, people forget that the US population is going to expand 30-50 Million people in the next decade. where will these people live? in a cave or in a house?

when the masses were all buying real estate in 2005-2007 it signaled a top, now the herd has run the opposite direction and is championing renting. if you want to make money stop following the herd!

He would be more convincing if he remove that varmit off his head.

He's been saying this since 2006. Sounds like he wants to get rid of his real estate holdings.

he's right be greedy when everyone else is fearful

How come those who want to sell houses don't become mortgage lender themselves. Offer the owner finance type loan to the buyer. If the buyer default, you get the house back. Of course you have to ask for substantial down payment, say 8% or more. 8% of $200,000 loan is $16,000. No way the new buyer is going to walk away from his $16,000 in subsequent years. (like most owners of under-water homes did or do).

very strange thing happened, many people put a lot of money in Trump's pocket back in 2006, now they find out that they don't have money left in their own pockets and go to protest on Wall St

I take this to mean Donald has a few houses he wants to unload.

Hey Trump, I would love to, BUT I DONT HAVE BILLIONS OF DISPOSABLE DOLLARS, #$%$ OR A JOB.

Housing is a good investment if one looks at cash flow. In Phoenix, one can easily purchase a home for $70,000 that rents for $900/month. Subtract $200/month for taxes, insurance, management, maintenance and vacancies, and you still can net roughly $8000/yr. That's not a bad return for an asset that you get to keep. That's if you are paying cash.

If you are financing, assume conservatively a 20% down payment of $14,000 with a 5% interest rate, giving a payment of $300/month on a 30 year fixed, and $440/month on a 15 yr fixed. This still yields roughly $5000/yr return on an investment of $14,000 for a 30 yr loan, and if you do a 15 yr loan, you can still have a positive cash flow of about $300/month, plus you will someday own the asset, all for a $14,000 investment.

Of course, you also pay taxes on the income. These are conservative estimates, so yes, housing can be a good investment. It's also involves risk and work, but in this case, it doesn't really matter if it depreciates or not. It provides income.

Hard to believe, but once upon a time, economists worried that the U.S. government would pay off all its debt. Also hard to believe, once upon a time was only 11 years ago.
President Clinton had bequeathed his successor budget surpluses "as far as the eye could see." He wanted some of them used to speed up repayment of the remaining $3.6 trillion still owed the public in Treasury bonds. He said it could all be paid off by 2013.
But the analysts probably never dreamed that the next president, George W. Bush, and his Republican Congress would slash taxes, run two wars and create a $1 trillion Medicare drug benefit without a thought of paying for it. Meanwhile, financial deregulation accelerated, taking the cops off a Wall Street already made drunk by low interest rates and the attendant housing bubble. The inevitable financial crash followed, kicking off the deepest downturn since the Great Depression. Before you knew it, Republicans had turned a $155 billion surplus into a $1.5 trillion deficit.

I got a bank home house two years ago in a great neighborhood for a great price. Now two years later the two homes across the street from me sold privately for what I paid for a foreclosure. I live in NYS not far from Trump's exclusive golf course. Apparently, I bought too soon and apparently, the blow hard does not know the NY market.

but who has money?

Does Donald Trump do,what he advocates for others .Show it Don !If you do not show it you will be cosidered as a ( fill in here what you think is appropriate).

The banks are not forced to mark the assets to the market - they have no reason to sell because they carry it on the balance sheet as an investment / held to maturity. Donald I really used to like you but it is becoming more evident that the art of the deal was alot eaier with your dad stealing all the property down in coney island from the floridia family.