This is the darker side of the suburban West Coast, post-automobile model. (Comparison of Berlin to Seattle.) https://twitter.com/bruteforceblog/status/637076001760014336 …
@eparillon @bruteforceblog what kind of mortgages do they have? & w/ floating-rates how do buyers handle shifts in payment size?
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@kimmaicutler @bruteforceblog 30 year fixed-rate mortgages are a completely insane product for banks to offer, and only exist bc of GSEs. -
@eparillon @bruteforceblog what's an appropriate term length? They extended from 20 yrs to 30 to reach a larger % of the US pop. - 2 more replies
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@kimmaicutler @bruteforceblog It's mostly ARMs I believe. That's the case in most places. -
@kimmaicutler @bruteforceblog ARMs can have ceilings and floors as well as reset caps to ease payment shifts. Also bigger downpayments help.
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@kimmaicutler@eparillon @bruteforceblog UK borrowers handle rate reductions well and increases with difficulty.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@kimmaicutler@eparillon @bruteforceblog max LTV ratio probably has a bigger effect than flex/fixed rates looking at diff EU countries. -
@kimmaicutler@eparillon @bruteforceblog and growing vs shrinking populations most effect of all.
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