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A comment on Redfin Is Leaving NAR. Parent comment

Re:Redfin Is Leaving NAR by lotsofpulp on Monday October 02, 2023 @10:38PM (#37747294)
And it is a non-callable loan, unlike borrowing $300k from your brokerage to invest in VOO. And many states require it to be a non recourse loan. And due to the backing of the federal government, it offers a 30 year fixed rate. The public subsidies are insane.
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Re:Redfin Is Leaving NAR by ethbr1 on Monday October 02, 2023 @10:43PM (#37747341)
Non-callable, can be refinanced at buyer's discretion, broadly standardized so there's a competitive mortgage originator/refinancing market, and can be borrowed against by using that same market (HELOC or home equity loan)

There's a lot of mortgage features that make it attractive to "I'm not an Accredited Investor" types.

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Re:Redfin Is Leaving NAR by 01100011 on Tuesday October 03, 2023 @12:01AM (#37747819)
I don't know about you, but I would have to significantly upsize before the mortgage payments exceeded the standard deduction my wife and I receive as a couple. In my market, the mortgage deduction is effectively dead.
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Re:Redfin Is Leaving NAR by lotsofpulp on Tuesday October 03, 2023 @12:06AM (#37747844)
It is dead for 90% of American tax filers since 2017 TCJA. But those juicy standard deductions end at the end of 2025 too, so could be only a few more years before the mortgage interest tax deduction is in play again for many.
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Re:Redfin Is Leaving NAR by 01100011 on Tuesday October 03, 2023 @12:29AM (#37747994)
Interesting. On the one hand I think it would be political suicide for pols to fail to extend the standard deduction, but on the other hand I think we're going to require substantially higher taxes in the near future to avoid financial repression, currency devaluation(no, not Weimar Republic levels...) and inflation. Should be interesting...
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Re:Redfin Is Leaving NAR by ethbr1 on Tuesday October 03, 2023 @10:44AM (#37752654)
The petrodollar and the dollar's globalization seem like the tipping points.

If either of those substantially changes, the US budget to inflation link becomes very different, because there won't be external sinks to soak up extra dollars.

Globalization will change on glacial timescales. And the alternatives don't look great: Euro (economic concerns), yen (economic concerns), yuan (economic and political concerns), ruble (economic and political and sanctions concerns), rupee (maybe if SE Asia gets its economic integration in order), naira (would need scale from other major African economies)

Oil being sunset is going to be fascinating macroeconomically, as a huge part of the US' world economic power flows through Saudi Arabia.

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