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Date Posted: Wednesday, August30, 02:14:pm
Author: a Bigger clique
Subject: Re: Another candidate for Mayor.
In reply to: Balanced 's message, "Re: Another candidate for Mayor." on Wednesday, August30, 09:18:am

Rent prices, though high, have yet to catch up with house price inflation and higher mortgage interest rates. Simultaneously, we are seeing a return of the zero down and zero principle payment mortgages ...a disaster in the making. In a shtf scenario, houses become illiquid and, if necessary, usually sold at a loss. Additionally, you can't deny the math...already NYS consistantly loses billions in taxable income earnings yoy. That loss has to be offset from somewhere eventually. Assuming one could only afford to purchase 400 sq.' of living space in the city of newburgh, yet felt secure in making the rent for the foreseeable future and plans on staying in a location, I would try to lock in a two year minimum rent lease and invest the otherwise 10%+ down payment in upping my skillset in the two year plus period. Your skills (restrictions apply) are mobile and scaleable, therefore invaluable. You can't ask for a better hedge under the aforementioned scenario. 'Been here five decades, the only variance now in Newburgh's positioning relative to the overall economy is there's a hell of a lot more fiat floating around in the latter. The only "resurgence" that people should be worried about is global credit related. Banks borrowing from the Fed Res against collateral at face value, rather than at market value...nothing to see there. Cue the "We didn't see it coming..." in 5,4,3...

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