All Forum Posts by: Carmelo Lopez

Melissa, From my understanding there are multiple parties involved when using a 203k loan. Bank/Mortgage Provider Contractor HUD Consultant The parties above work together to keep one another honest so be as specific and thorough when outlining the work you wish to have done to your duplex. Interview multiple candidates for each of the parties listed above, ask lots of specific/detailed question's and take notes of all of their responses. Be sure to tackle all the mechanical's and important items first, such as roof, plumbing, electrical etc. as these tend to eat up most of your budget. All the best to you!

After 2 years of unsustainable growth, do you think the United States is headed for recession? In June, the Federal Reserve raised interest rates and outlined a plan to shrink its $4.5 trillion balance sheet! Sign of a tightening cycle?A tightening cycle is a cycle of interest rate hikes. The Federal Reserve tightens its monetary policy by raising the federal funds rate to curb inflation if it is rising too quickly.  Historically, tightening cycles lead to recession! Some might argue that unemployment levels are at historic lows, they're right. But the use of artificial intelligence (AI) has increased yearly. How long before even more jobs become automated? I'm interested in reading everyone's opinion on the matter, thank you in advance!

Jared Reutter Thank you for sharing your experience! I plan on taking advantage of the 203k program also.

Jeff Kehl Awesome summary, thank you for your contribution to this oh so sensitive topic. I'm excited to see how it all unfolds, whenever it may be.

@Will F. One of the best responses I've read so far, IMO. Thank you for sharing your opinion.

Wow! A big Thank You all for your replies, BP rocks! I respect everyone's opinion as many valid points have been presented. However, we've had 60+ months of year over year gains, both prices & sales are up! Just because everything seems peachy now doesn't mean it'll remain this way. What about inflation? A dollar was worth more in 07, wasn't it? According to the Bureau of Labor Statistics, you would need $255420 in today's dollar's to buy as much as $217400 purchased in 07. Only 28% of newly built homes are below 250k. Some have argued that interest rates are at an all time low and prices, in terms of buying power, are cheaper than 10 years ago. They're correct. However, there also needs to be a strong economy, you know one with lot's of jobs. Yes, unemployment is down, but the use of AI is a growing and constant threat to job holder's! What percent of jobs would need to be replaced/automated by artificial intelligence before we began to realize the economy isn't as strong as you think. Thanks again for all that have replied, feel free to leave your comments below!

Michael Hastings Thank you for your input!

Jay Hinrichs Thank you for your contribution to this thread. I enjoyed listening to to podcast 222, truly inspirational and full of knowledge!

Russell Brazil I'm interested in your opinion, as a moderator you've seen your share of predictions and bubble discussions. In my area, houses aren't even breaking even as I'm sure is the case in many parts of the country. On a side note, I really enjoyed your podcast #192. Thank you for your contribution.

Orita Issartel We're starting to see the same thing here in northern New Jersey, in my opinion. Seems like every offer made on a home ends in a bidding war.