Current Events > Apparently there's a massive layoff in the mortgage industry right now

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Veggeta_MAX
04/27/22 10:32:55 AM
#1:


Can't find a good link/article that entails this entirely but I Googled it and it seems tons of banks are laying off their loan officers.

Someone else please get the details for me.

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MegaManXYZ123
04/27/22 10:34:39 AM
#2:


Time to buy a house

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ScazarMeltex
04/27/22 10:37:32 AM
#3:


All the big companies buying up houses at way over market value aren't taking out loans, they buy them with cash. Then because they are renting instead of selling them people aren't taking out mortgages. Not to mention the amount of people who are priced out of the market are also not buying right now. So yeah, not alot of call for loan officers.

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Veggeta_MAX
04/27/22 10:37:52 AM
#4:


MegaManXYZ123 posted...
Time to buy a house
That's if you can actually buy one. Spoke to my realtor yesterday and she said this is a very volatile and dangerous time to buy a house in our economy but yet people are buying houses out the ass. She hasn't been able to help a client buy a house in half a year. Every house I sent to her that I was interested in was sold within hours of being on the market, before I can even go look at the house and the highest bidder are at least bidding 10k-30k over the already over-charged house.

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Giant_Aspirin
04/27/22 10:38:34 AM
#5:


ScazarMeltex posted...
All the big companies buying up houses at way over market value aren't taking out loans, they buy them with cash. Then because they are renting instead of selling them people aren't taking out mortgages. Not to mention the amount of people who are priced out of the market are also not buying right now. So yeah, not alot of call for loan officers.

really hoping all of that backfires hard and they're stuck paying property taxes and upkeep on empty homes.

OR Congress can fucking do something about this by imposing a tax on "investing" in single-family homes.

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Veggeta_MAX
04/27/22 10:39:07 AM
#6:


Giant_Aspirin posted...
really hoping all of that backfires hard and they're stuck paying property taxes and upkeep on empty homes.
Me too. This housing market needs to pop.

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ScazarMeltex
04/27/22 10:39:27 AM
#7:


Giant_Aspirin posted...
really hoping all of that backfires hard and they're stuck paying property taxes and upkeep on empty homes.

OR Congress can fucking do something about this by imposing a tax on "investing" in single-family homes.
Nah, congress will just bail them out after their investment collapses.

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Lunar_Savage
04/27/22 10:39:49 AM
#8:


That tracks.

Hard to mortgage houses when they're all owned by mega corporations that aren't doing much with them.

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