Oh, and this weeks Grand Rounds is up.
I talk to the @#$%&*@ customers man. You know, the ones that take a loaner laptop on a trip to some far away state and need to give a presentation in 1 hour but have no idea how to log into the laptop.
Coming from someone that’s leaving a job in the financial industry and seems to have a good understanding of how the markets work, he sure seems risk averse.
But, to offer my two cents: The banks are in the business to make money and they are going to try to make the most money possible in the shortest time, interest only products have got to make the balance sheet more attractive. Think about it: customers are choosing to delay payment even more on a huge debt (in this case $211,000), so the total interest paid is much bigger than a traditional mortgage, boosting profits for the bank.
I agree with the post 100%, if you can deal with the risk, take the plunge and flip the property for a profit before you have to pay any principal. But, my pessimistic ways would give me an ulcer if I knew we were going to have our mortgage payment double in 3 years. And, the bottom has to fall out someday, having what equity you gain tied up in the next property you buy when that happens is going to hurt.
For one, the student did (probably) violate the AUP he (should have) signed at some point. But, if the filtering software really is that bad, can you blame him for trying to bypass it? Judging by what he’s doing now, I’d say he’s on a path to a career in computer support….
I can’t say it any better than Ryan already did.
$179,000? Sure, just let me find my charge card. With metaphors like this:
How could anyone resist? (Via Jalopnik)