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The 30-year fixed rate is, unless I am mistaken, somewhat unique to America and only for people buying property where they intend to be primary residents. Comme
by plagiarist 3y ago
The 30-year fixed rate is, unless I am mistaken, somewhat unique to America and only for people buying property where they intend to be primary residents. Commercial property has no such federal assistance and ARM isn't unusual at all.
Notice how the article describes the syndicate runners profiting even if the syndicate fails. This is just a regular pyramid scheme, but part of the pyramid foundation was a low fed rate.
I cannot say I feel too bad for the investors. They're buying with the intent to evict and raise rents. It's unconscionable. And foolish to put all of one's eggs in a single basket.
- bloodyplonker22 3y agoThat's not correct. The 30-year fixed rate is available to investor/landlords as well. It is usually a few basis points more than if you were to buy the house as the primary resident.
- ElFitz 3y agoWe have 30 years fixed rates in Europe. And most people here would consider taking out a variable rate loan to be a stupid move. In fact, people in France are usually surprised and shocked whenever they learn of some random city nearby nearly going bankrupt because their local government thought themselves smart signing up for variable rate loans.