Lackadaisically Elucidated: The Housing Market
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- čas přidán 25. 08. 2024
- thank you for clearing this up dad peepoG
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Twitch: / northernlion
CZcams: @Northernlion
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Stream date: 10-21-2022
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#northernlion #clips
From what I understood, having a mortgage is a lot like having a McDonald's Sprite
Bruce Lee's favorite drink?
I take my financial advice from a bald man in his 30s who lives in canada and makes a living streaming
Mcdonald’s Sprite 🥤
HE'S BALD???
We are not the same.
why did you feel like mentioning his bald head is relevant?
@@user-mz1fe3yj7e it adds atleast 30% more credibility to his financial advice
I'm not out of touch. For example, earlier today I was arguing with a person I made up so I could win an argument.
My retirement plan is to die early in the resource wars. My advice to home owners: don't build in a rising sea level zone, get good insulation in your walls and roof, get an air conditioner system that works above 50 degrees C outside.
he died so that we could have triangles
W thread
Glad to see the outro cause I usually watch these in batches and often forget to like some of them, so having a reminder at the end is nice.
so true!! the same thing happens to me
If I had a penny for every time NL has gotten stunlocked on home ownership, I would have enough money for exactly one McDonald’s Sprite.
Bald man DESTROYS straw man with FACTS (maybe) AND LOGIC!
That rush cover at the end is incredibly tasteful
Banks charge a fee to refinance. Like 1-2k usually
THE RUSH ENDING LOL WHAT IS THAT
peepoTalk
There is no great system: just a sprawling mess.
why did I watch this
When you refinance, you are getting a brand new loan and you leverage your home on that loan. Why do you take out a loan? Well of course to pay off your house.
But isn't that the same thing as a mortgage with more steps?
Yeah no shit, those extra steps cost money. You are paying people to give you this new loan.
Your bank does not have to agree, unless you are refinancing at the same institution.
Since nobody explained the blockchain, here y'all go:
Basically, any time you want everyone to know something (eg. You purchased a coffee from JimBob for 6 tokens), you broadcast your message and an amount you're willing to pay in fees to have it published to everyone in the world.
Miners who hear your broadcast decide if you paid enough for them to attempt to publish your message. If so, they add it to a big list of other messages they're going to broadcast called a "block".
The thing is, if anybody could publish anything, there'd be lots of conflicting messages and the blockchain would be useless, so they made it very difficult to publish a message. Only the very best machines running nonstop for hundreds of hours even stand a chance of doing it.
Blocks are sequential, so if you somehow manage to publish a fake message, or one that conflicts with previous messages, that's great, but all the other machines running overtime to push out the next block will realize your message is bad and ignore it and they'll instead build off the previous block. (This is where you may have heard of N number of confirmations: basically how many blocks have to be stacked on top of your message before people will believe it's legit)
This is for a proof of work blockchain. Proof of stake blockchains are similar but instead of making it really hard to publish a message, they only let people with a lot of money do it. If they intentionally screw up the system, they have a lot more to lose, and thus their fake or malicious blocks will cost them dearly.
not reading all that congrats or sorry it happened
Nice, any askers?
^^ fuck these guys, thanks for the explanation!
BatChest
@@lucasnadamas9317 Actually, yes!