barack wants to raise FDIC limit to $250k

[Jeff7181]

I think it's a good idea. That policy hasn't been updated in a while if I'm not mistaken. So insuring someone's bank account for $100,000 now doesn't have the same effect as it did when it was put into place. It's not uncommon for someone to have $100,000 in savings. It's MORE common for someone to spread that out over various retirement funds and such, but having $100,000 in the bank today doesn't mean what it did even just 10 years ago.

 

[tfinch2]

Originally posted by: rsd

Originally posted by: tfinch2

Originally posted by: alkemyst

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

Definitely a comment from someone that is clueless on 'starter' homes and going of hearsay.

Like I said before, 500k+ starter home? lulz

Move from Tejas to I don't know..let's say the Northeast and 500k starter homes is very accurate in many, many areas.[/quote]

The Northeast, or select locations in the Northeast?

It's popular practice here to make sweeping generalizations with extreme examples.


EDIT:Fusetalk quotes suck.

 

[alkemyst]

I would love to see real example of $500k 'starter' homes. Most try to lump a luxury 1500 sq ft home right in seattle or a 1200 sq ft condo in NYC as a 'starter' when even those established are commuters.

Here in Palm Beach County you could have found reasonable starter homes during the boom even, but most elected to over buy and strap themselves because they had to have the 24/7 manned gatehouse with roaming security.

There are a ton of listings out there, but they aren't selling. The rich are snatching up deals left and right down here on the ocean/intercoastal fronts. I think in Naples (it was west coast florida), $250-300k is buying some oceanfronts right now. We have a 2600 sq ft model that was selling at $750k listed at $239k right now with no HOA for a year and no closing/move in costs and they are not selling...I just bought last year at $265k (with about $20k in concessions). My yard is nice sized (9000 sq ft) vs about half that for the zero lot line home, but having a new home in a neighborhood where I am one of the cheaper homes is a bonus.

I can't complain too much though neither one of those homes are going to be more than temporary for me.

 

[BigJ]

Originally posted by: rsd

Originally posted by: tfinch2

Originally posted by: alkemyst

Originally posted by: tfinch2

Originally posted by: thomsbrain
A 20% down payment on a starter home greatly exceeds $100,000, and you bet your ass I want it insured in the account I'm writing the check from.

500k+ starter home? lulz

Definitely a comment from someone that is clueless on 'starter' homes and going of hearsay.

Like I said before, 500k+ starter home? lulz

Move from Tejas to I don't know..let's say the Northeast and 500k starter homes is very accurate in many, many areas.[/quote]

I live in the Northeast and 500k starter homes is very inaccurate in many, many areas.