The Stock Market Is Not The Economy Thread II

**Roranora** · 2022-08-29 14:17

can we transform the food too

**archibaldcrane** · 2022-08-29 17:17

Originally Posted by archibaldcrane

California going full Nordic, fast food edition

They're maybe about to establish sectoral bargaining for fast food workers.

https://twitter.com/Show_Me15/status...R8Y8u8qqQ&s=19

Passed the Senate

https://twitter.com/TribTowerViews/s...OIX8H97Tw&s=19

**archibaldcrane** · 2022-08-29 17:22

Originally Posted by Andalusian girls

potentially huge override of the parochial concerns that have strangled the market. you seeing any kind of analysis for the extent to which it is estimated to increase the rate of housing production? all i got are imprecise and dubious claims by the legislators.

https://urbanfootprint.com/ab2011-analysis/

**archibaldcrane** · 2022-08-29 17:25

We did it Joe

https://twitter.com/IDoTheThinking/s...TPS6aMAew&s=19

And before you say "Archie stop posting about California state politics in the economics thread" let me to say that allowing more people to live in the economic powerhouse that is California (GDP between India and Germany) is very economically important.

**Buffy** · 2022-08-31 21:23

Anyone really like their mortgage provider?

Backstory:

Spoiler: show

So I'm looking for a new mortgage company that has better tools. Anyone a really big fan of their mortgage company and the tools they have to help you model payments, early payments, and the effects of bulk payments on your outstanding schedule? Looking for recommendations.

**Gwynplaine** · 2022-08-31 21:43

YIMBY wave! If Dems retake the MI state legislature for the first time in decades I'm hoping for similar results.

**Outlaw** · 2022-08-31 22:19

Walmart-owned Sam’s Club raises annual membership fee for the first time in nine years

https://www.cnbc.com/2022/08/31/walm...n-9-years.html

Just 5 bucks but I can already hear people around here saying, "It's the Democrats fault!"

Sent from my SM-A505U1 using Tapatalk

**Botosi** · 2022-08-31 22:25

Crosscountry mortgage. No complaints.

**Day** · 2022-09-01 08:42

https://twitter.com/cvrlne/status/15...kyBrmev5A&s=19

Cant imagine what could go wrong

**Jaybar** · 2022-09-01 09:04

I've seen this one before!

**TsingTao** · 2022-09-01 09:15

Hey, it's been a few years...why not go at it again? Surely people will have forgotten how things worked out last time by now.

**synistar** · 2022-09-01 09:28

I get what they're trying to do - increase homeownership rates for Blacks/Latinos/Hispanics. I don't know BofA's track record with their existing 3%/$10,000 down payment grant program or their "up to $7.5k closing cost grants" prior to this new program. So I guess it's fair to be suspicious of it backfiring on these homeowners.

On the upside, if the areas/neighborhoods that qualify for the program gets gentrified, it opens up access to home equity lines of credit.

https://newsroom.bankofamerica.com/c...lution--t.html

**Mythe_Seraph** · 2022-09-01 10:11

Does B of A even offer HELOCs anymore? I’m pretty sure those were shut down during COVID like every other big bank. When I was with Chase at the time they were talking about how they may not ever offer them again. We’ll see I guess.

I don’t see this ending well honestly. It’s suspicious that it is happening now of all times and if BofA is offering this you will most likely see Chase/Wells follow closely behind.

**synistar** · 2022-09-01 10:21

Originally Posted by Mythe_Seraph

It’s suspicious that it is happening now of all times and if BofA is offering this you will most likely see Chase/Wells follow closely behind.

It's been a thing since 2021. BofA's jump into it (Oct 2021) came after Chase (Feb 2021,) Wells, and PNC (June 2021)

https://nl.wfhmconsumerevents.com/
https://media.chase.com/news/chase-homebuyer-grant
https://www.cnbc.com/2021/10/22/how-...omeowners.html

So old news. Just BofA this week is expanding the terms for 0% down instead of 3%/$10k.

**Mythe_Seraph** · 2022-09-01 12:03

Originally Posted by synistar

It's been a thing since 2021. BofA's jump into it (Oct 2021) came after Chase (Feb 2021,) Wells, and PNC (June 2021)

https://nl.wfhmconsumerevents.com/
https://media.chase.com/news/chase-homebuyer-grant
https://www.cnbc.com/2021/10/22/how-...omeowners.html

So old news. Just BofA this week is expanding the terms for 0% down instead of 3%/$10k.

I remember the grant programs, but zero/zero without it being based on credit score are all new terms that I wasn’t familiar with in the previous iterations.