Feels like a lot of people postponed their purchases because they listened to the house market doomers on YouTube while the truth is that there is no reason for a crash. The eternal just wait feels like a ruse to never own anything and be happy.
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Since thew Dollar is hyperinflationary yes they wont go down
that might be so but the masses of mortgage holders also need a wage to actually pay of their debt
so yeah this is just making the pile of tinder so much bigger, when it goes down it will be horrible
potentially nation ending
>holders also need a wage to actually pay of their debt
luckily for us unemployment is at an all time low with no signs of increasing.
they literally are crashing right now lol
read above. You idiots can't even look at a basic chart
>Housing market is a monolith
This meme needs to die. Buying a house with mentality is risky.
People have been waiting for a crash for as long as I can remember. It’s just wishful thinking now that they are priced out. I bought my first house 2012 and was told it was a stupid time to buy. Bought my second house in 2019, and was told it was a stupid time to buy…. Sitting on the sidelines was what was stupid.
Rentoids will seethe at this comment.
I think the only truth is there are better and worse times to buy.
Buying in 2022/23 sucked die to high prices, low inventory, high interest.
Buying is likely to get better soon as the market normalizes and interest rates begin to decline.
Even if buying at the worst time, having equity and/or building up a rental portfolio is a better move than wasting money on rent long term - also you can refinance to a lower rate
>Even if buying at the worst time, having equity and/or building up a rental portfolio is a better move than wasting money on rent long term - also you can refinance to a lower rate
except you can go chart house prices versus stocks or crypto for the last year and see how your 100k down payment would be like 200k now and the house would cost less
I'm a renter and my solution is to not care. Problem solved.
I bought my first house right out of college in 2015. My reasoning was that I refused to be a rentoid ever in my life. Around 2018, my friend from college was over and he was passive aggressively seething that I got lucky for buying so low. I told him to just buy now and take advantage of government gibs like I did. He said he's waiting for a crash. He's still renting to this day.
>He said he's waiting for a crash. He's still renting to this day.
The life of a rentoïd.
This. Anytime you buy a house is good when compared to the future. My dad was ready commit suicide when he was spending 50% of his take home pay in a house in his 30's. Even before the housing boom, inflation, raises, and appreciation all worked in his favor, even after the 2008 market crash. Buying a house is only bad if you're trying to use it as a short to mid term investment. Buying a house to live in is almost always a good financial decision.
Also this. If she bought this house and wanted to sell in 3 years, she'd absolutely and rightfully ask for the going market rate at that time. Lol @ her denying this reality.
>This. Anytime you buy a house is good when compared to the future.
Yeah all those people that got foreclosed on in 2008 made a good decision.
Generally speaking my statement is true. Even then, if they'd held until now, they'd have more than recouped their initial and made profit.
>lock up 60% of your income for 20 years to make 1% profit
I mean, that's pretty good when you realize that the universe is made to rot and that the growth meme has to end someday.
Pretty much this, I bought in 2018 and was also told it was a bad time to buy because interest rates were high 4 percent. Meanwhile the home has almost doubled in value since. If you have enough of a downpayment and income to cover the payments and other bullshit that goes along with homeownership, it's never a bad time to buy.
Buying multiple homes is stupid. You'll make way more putting that money into stocks and crypto with none of the headache.
Agreed. Rentals as income producing assets for an individual is a dumb business model in 2024. Invest in dividend paying stocks or ETFs, LPs, REITs, or even bonds. It’s an easy income stream with no localized hazard requiring insurance, tenant headaches, maintenance, paying management, etc. Only the eternally poor and ignorant think it’s a worthwhile endeavor.
Truthpilled
This. Holy shit the amount of moronic advice people were giving me. Bought in the same years as you
>"Renting has a cheaper monthly payment"
>"You're going to be 'house poor' "
>"It crashed before it's gonna crash again"
>"I wouldn't buy, rates are high"
>"I'm waiting for (moved goal posts to unobtainable criteria) before I buy"
Thank god I remembered I was smarter than them and bought anyways.
I now have multiple properties financed below 3% and rented out for double my monthly liabilities.
>>"Renting has a cheaper monthly payment"
Ironically it's usually more expensive than the mortgage lol
>ya 10 years ago this was the price
>life of martgage is 30
>overpay 3 times in long run
why do folks not realize the terms involved??
So rent for 30 years then. What does that get you?
Freedom
>was told it was a stupid time to buy
>It’s just wishful thinking now that they are priced out
>Sitting on the sidelines was what was stupid.
perfect example:
This homie bought the top and is desperately coping
>priced out of houses
>no new buyers
>people still selling and buying homes
It’s the same people or you’re literally looking at an implosion being held back by deflation and printing.
She fell in love with a house means this house must have been really fricking good.
She like every other girl fell in love with Chad too.
Im sure there were 1000s of other women like her who saw it, and it became a bidding war between whichever one of those womans husband/dad could afford it
80% of the women are competing for 20% of the houses
Women are so fricking stupid lmao why would you think a tangible asset in a desirable state like Colorado would be worth the same amount it was in 2021. She's young and good looking in and desirable state too so she's probably slightly above average in intelligence than most people and can't realize her dollar from 2021 is only worth a third now and that house actually sold at a significant discount from what the buyer paid.
I guess this is how the government gets away with what it does so easily
Because when women fall in love with something, they think they deserve it and get triggered when they can't have it, ignoring the fact that many other people want the same thing (scarcity).
good. get fricked zoomers.
NO prices are going back. Things will only get more expensive.
Inflation going down doesn't mean prices are going down, only that things won't get that expensive as fast. Unless deflation happens, which is rare and happens only for a short period of time since the government wants costant low inflation.
+300k since early 2021 doesn't even seem that bad, the home probably would have been much more in 2022
Housing bubble
Stock PE ratio at valuations not seen outside the Lehman and Covid crashes
https://www.multpl.com/s-p-500-pe-ratio
nothing to see here
We're absolutely getting deflation this year. The fed will cut hard because of it but nothing will happen.
Bro I don't care, I don't want to 'settle down' in a doomed country like this. Your house is worthless to me.
What about Texas?
This stupid woman has clearly only “fallen in love” with one home on her very first day using Zillow. Anyone that uses Zillow knows the pending price is always the same number as the listed price and does not indicate anything . It is the sold price that will tell you if the price went up or down. Stupid woman.
you are a woman
no matter how many times you say "stupid woman" to hide it. I know you are a Stacy fuming about zestimates
The youtube housing doomers are are all Blackrock funded.
No coping here, but I'm comfy having put my money into bitcoin instead of property.
Kek, that is coping. You are putting your money into rentals. You either pay your own mortgage, or someone else’s. My mortgage is cheaper than what I could rent though. Was the same with my first house. The market just keeps going up and you are still paying for it, you just walk away with nothing in the end
>He thinks my rent anywhere close to being greater or equal to a mortgage payment and that I don't utilize the hypothetical down payment to further drive down the actual rental payment via passive returns
If you knew my rent, you'd seethe homosexual.
Mortgoids will seethe at this comment
Bought my first house in 2012 with a USDA rural development home loan. $0 down payment. My mortgage was $900 month. This was a 3 bedroom house on 3 acres of land. Comparable rents at the time were $1k-$1500.
Sold that at significant profit in 2019 and bought my dream house. I can stand on my roof and damn near throw a baseball into the ocean. Mortgage payment is still lower than rents in the area. Renting is fricking moronic. Long term, only ownership makes sense.
The house I’m in now is still up over 50% from where I bought it just 5 short years ago. I’m really not worry about a housing crash… it’s not going to happen, but even if it did I’d still be in the green. Best you doomer can possibly hope for is a 30% crash… you won’t be in a better position to buy when that happens though. Those of us with assets and money will be though.
Whatever dude. Congrats on your best "investment" requiring hundreds of thousands of dollars tied into a loan that you pay monthly, typically produces no passive income, requires you to lock up high 5-figures to 6 figures of liquidity, while requiring you to pay taxes along with maintenance costs for merely holding it. But hey, look at it this way: at least you beat out inflation!
I am raising my kids on an island in a very safe, extremely white neighborhood. Absolutely the best investment I ever made.
Oooohhhh that's different. If you got kids, then I understand. I was talking in purely financial terms. It's for them, not really an investment per say monetarily, but a good solid base for their upbringing.
Stability is tremendously beneficial for children and having a solid foundation via a good home is great for them vs having to move around all the time. You're a good father for looking out for them in that way.
Renters have monthly cash outflow. Renters pay taxes and maintenance, too, just not directly. Renters do not get the advantage of property value appreciation. That “locked up liquidity” is not something a renter will ever even have. Renters also do not get the tax advantages mortgage holders get. I took a 3% mortgage loan in 2012 and have current year property appreciation and inflation rates counteracting my interest costs (which were deducted from my taxes each year). You have to live somewhere. Be smart, not stupid.
Never have had to pay more than $500/month of rent+utilities and all excess savings went into assets that generated far higher returns/appreciation than anything a primary residence would deliver, including other benefits it could give such as shaving off a few grand for however many percentage of my federal/state income taxes.
Again, I have been more than justified renting vs owning in my situation.
At $500/month you’re either living in the ghetto or packed in with roommates like a rat. My payment is $800/month and increases equity in an asset that has appreciated 200% over 10 years, while giving me 3000+ sqft of personal space, a private outdoors space, and tax benefits.
If you had to buy now, then the situation is different. If you could have bought before 2020 and didn’t, then you’re a fool.
Look, whatever you need to justify yourself. I'm sure you made the best decision for your situation.
My situation on the other hand works fine with me. My girls pay most of the bills and if I had done the same as you: I wouldn't have what I've got currently and I'm enjoying myself just fine. It made total financial sense and paid off more vs me currently having a larger backyard or saving a couple of grand in taxes annually.
>My girls pay most of the bills
You sound like a fat 13 year old larping on the internet from his mom’s basement.
I'm sorry that I've made you upset. Let's just say that I'm incredibly blessed despite my clearly moronic, unconventional investment/lifestyle choices, and leave it there. Happy now?
>My girls pay most of the bills
No, no. We’re not done here yet. Tell us more about this.
I've been in a closed relationship with two women for several years. What's there more to tell?
Lots. Because the more shit you make up out of thin air the less the details will align and it amuses me to watch you humiliate yourself as you spin bullshit from your mom's basement.
While I appreciate you being transparent with your mindset and answering my question: your motivations sound weird to me.
Note that earlier on in this thread, once someone made their life's details, and personal goals clarified: I understood them, didn't feel invalidated by my decision to rent vs own, and in fact complimented them on their different path/choice.
However, you're thinking that I'm not also responding/reciprocating him by also being transparent...again, just as the prior poster that I was conversating with did with regards to his life's details, and for what? To get a one-up on a thread on here? Frankly, at that point, it just turned into a convo.
But, for you, all of this that I've described is impossible, and moreover: you view me as fabricating my life. Furthermore, you're really gleeful about possibility of that...you're practically salivating over it.
So, I think you're projecting, and if I may be bold: I don't think you're nearly as open/trusting as a person yourself. That being said dude...it's an anonymous image board. Ease on up.
Kek...5 figs at least. I recommend checking if your gf being bi and ask if she's got a thing for any of her friends. Also, in terms of hassle ....any time they're on the rag or their hamster wheel is spinning: just let your other gf step in to pick up the slack. They can handle their female-oriented stuff themselves and if anything take dealing with that stuff off you a bit. Just be logical with how you conduct yourself and let that naturally extend that into how you deal with them.
So you're an ESL shitskin that replies with chatgpt. Are you a jeet perhaps?
Disappointing, you're not even engaging with me. Rather, it's like you're upset that I went through, and actively engaged with you. Damn... kind of a bummer.
Show me a picture of your brown shit stained hand, Ranjeet.
How much link to get this, and is it worth the hassle?
>My girls pay most of the bills
>200% over 10 years
QLD has 40x over that period.
>tax benefits
Deduction =/= credit. A poorgay making $100k that buys today would only save about 10% of their interest payment on taxes a year
>Be smart, not stupid.
You absolute Black person. The median mortgage payment is greater than 100% of the median wage.
poor cope
This
I "own" (inb 4renties start about banks) cuckpartment and I'm amassing fricktons of liquidity now when mortgage dipped below comparable housing rents. oh also, cuckpartment appreciated 16% in 2 years
Crash or not.. I'm accumulating cash *and* am ready to dump apartment to hunt for a house
Even my position to buy whilst sidelined seems dire.
Can't even imagine how current day rentoid can manage, math simply does not work out for 90% of them
There are boomer who owe not one, but multitude of preoperties, not even talking about REITs
>The house I’m in now is still up over 50% from where I bought it just 5 short years ago
>Best you doomer can possibly hope for is a 30% crash…
You do realize that a 30% crash means your house would be valued at the same price you bought it, right? Which means you'd have lost money in real terms
there is a ZERO percent chance that prices go down 30%, the "crash" already happened in 2022 when the fed decided to hike rates
the fed is done hiking rates, sellers realized that they can just keep their 3% mortgages rather than sell for anything other than the peak price, and you have non-existent inventory
2023 prices are already up from 2022 lows, and the fed is going to start cutting this year
Every one of these discussions always devolves into some shitskin larping that they bought at the best part of the trough and that everyone else is stupid and poor. You never really get any real discussion. It's sad, really.
We are at historic trends and there's plenty to discuss but everyone seems to be fixated on jerking themselves off about a fictional amount of wealth they have.
Theres nothing to discuss, 65% of americans own homes. Its not gonna crash because everyone wants american homes. Your competing with oil princes and tech ceos in those top 8 cities. If your a brokie move to a flyover state
So a bubble never before seen in human history is a "new paradigm."
If were talking about top 8 city real estate then its not a bubble. Your talking about the most desirable land in the most desirable country. It looks like a bubble to you because your most likely a salaried worker aka poor, and these prices are unreachable for you. meanwhile your competition is rich domestic and international buyers who can afford the 1-2 million dollar detached homes. The demand far outweighs the supply
Too many immigrants coming in. Its never gonna crash again. Why post this chart?
Because if you make the median income the median mortgage payment is greater than your take home pay. Calling people stupid for not buying a house demonstrates a lack of understanding of current conditions.
>posted chart showing that more than a third of Americans have mortgage at 3.00% or lower
>I-IT'S JUST A LARP
Cope. Enjoying my 2.625% a lot right now.
>I mortgaged when costs were below rent so you should mortgage when costs are 2x rent
Why are debtcucks like this?
Kek, I think you failed to understand the point anon. Gaga like you have been saying the same shit for over 10 years, and you were undeniably wrong. Whatever happens in the future with the housing market, it’s not gonna be rentcucks, who are forever at the mercy of landlord rates, that made the smart financial decision.
Yeah, I'll have to keep coping with my 40 BTC, 6fig brokerage account and complete freedom of movement. It's fascinating, it seems the mortgicuck is incapable of even conceptualize saving, to them anything not spent in a given month simply disappears, which is probably how they live, pissing away any money left over on frivolous garbage
Kek, I hold BTC too. I would have had less money to invest over the last 10 years if I was renting, how do you not understand after everything I already explained? You have a landlord ffs. Can’t imagine being that cucked
>I would have had less money to invest over the last 10 years if I was renting
Not if you'd purchased when mortgage costs were 2x rent, as they are now, you encourage anons to destroy themselves financially because you can't conceptualize proper investing, you are an evil person and will burn in hell for all eternity for your sins.
>at least you beat out inflation!
Doesn't even do that, see:
High iq post
its like they also assume you rent the same size apartment as the house you would buy....my rent is lower than the property tax on a house in my state
>I prefer investing all my worth in a CIA controlled virtual asset instead
No way you're real.
bros, i was going to make my own doomer post but ill just do it here.
>be me
>late 30s
>only got my shit together recently
>one bad relationship after another
>moved back home after rent cucking for years
>need to get the frick out of here immediately
>look at rent in nearest large city, everything is 2K
>look at rent in small town near my rents home, 3K for anything
>home buying is abysmal everywhere
>looked in the middle of idaho for kicks
>priced out of remote towns in idaho
i am literally asking, what the frick am i supposed to do?
my gut tells me to move to outskirts of largest city and rent and hope to meet a chick? no idea at this point. alternative is buy some shack in middle of nowhere, and hope that attracts some wilderness/farm type chick that would be ok with that? im making decent money, im not entirely fricked
>my gut tells me to move to outskirts of largest city and rent and hope to meet a chick
Yes. It's one of the very few ways you can still try to get ahead if you aren't able to pay down a deposit on a house. Get a girl and have her split rent. Even if it's not 50/50, it will definitely help.
>t.living in Londonistan in a very nice area paying £1200 rent while gf pays £700
3 options
(1) make more money so that you can afford these cities
(2) find a partner who will help you afford these cities
(3) move to a city with older housing stock and no economy where housing is affordable
there's affordable housing in idaho, but you are being the male equivalent of a 30+ year old woman in the dating market and are just expecting things to fall into place for you
I've realized the reason zoomies are so doomerpilled on housing isn't because there are no affordable houses but because they can't afford white flight anymore. There are tons of affordable places all around the country. But none of them want to move to those areas because they're all aiming for the same 8 cities in the majority white area that require a top 1% salary to afford.
Tough luck k kid. You either live on the shit side of town or move rural.
THIS. It’s the white flight areas that are skyrocketing in price. All the last desirable majority white areas keep going up in price while the israelites flood the country with third world African fighting age men with low iq and no skills. The entire nation is going to be a big favela, with small concentrated pockets of wealthy whites. Eventually it will all come crashing down, but if you are poor now, then you are priced out for good.
>they're all aiming for the same 8 cities in the majority white area that require a top 1% salary to afford
Yep. They're the equivalent of women in the dating market.
I see my home city is lit up orange. The problem is prices have always been that high and the pay balances ~relatively~ with the housing market if you're educated or a tradie. I'm looking at random shitholes in Indiana that were once $10k asking up to $250k. Iowa has homes at $500k and I'm assuming minimum wage is still $7. This map isn't actually reflective of inflation and cost of living in those areas, only flat asking price. I'd rather pay $600k to live in the city I was born in with 100k+ wages than pay $400k in a flyover making half of that.
Rather than do all that yapping why don't you just ask for a price-to-income ratio map?
>just live in Alaska bro
See, they words in my previous post were that the cost of living was reasonable if you were educated or a tradie. My hometown is full of illegals and Hispanic dropouts, so it screws the statistics for median income relative to housing costs. I actually come from one of the poorest educated, most minority dense cities in the entire union, and no one has probably heard of it.
Okay now you got me really, really curious. In Michigan somewhere, if I had to guess?
he said his hometown was lit up in orange (always is) then mentioned iowa and indiana so i'm guessing corn belt
not michigan - traverse city is all white and then ann arbor/livingston which is all white outside of a2/ypsi
could be madison WI, they have spics, but the bigger annoyance are the Black folk, the milwaukee suburban counties are 90% white
not ohio - they are delaware + union county which are white northern suburbs of columbus, only 1% spic
not iowa - dallas county (88% white)
not indiana - hamilton county's problem are asians on VISAs, and boone county is 95% white
KS/MO is johnson county (affluent suburbs) and platte count. there used to me a kid spam /misc/ about how great johnson county was although it's only like 80% white and places like shawnee mission are sub-50% white with 20-30% hispanics now
so my guess is johnson county KS because i dont care to look at minneapolis and the southern sioux falls suburbs are still 85%+ white
>There are tons of affordable places all around the country. But none of them want to move to those areas because they're all aiming for the same 8 cities in the majority white area that require a top 1% salary to afford.
this is moronic. I can't move to the middle of nebraska because there's no fricking jobs out there. If I could do my job living out of a cabin in montana, I fricking would.
And that's why they got so assblasted about work from home. They NEED you to be in the wage cage propping up their commercial real estate.
I work in construction you fricking Black, I have to be on site, and furthermore I have to be places they are actually building things unless I want to spend my life on the road
>I work in construction
this is where you fricked up
>remote towns in idaho
you realize that is basically the most valuable land in the US right now right?
JUST TWO MORE WEEKS FELLOW ANONYMOUSES
THE NORMIES WILL BE SUCKING OUR DICKS TO BUY THEIR HOUSES FOR PENNIES
kek this.
Imagine wanting to live in a small yuroshit style box around Indians.
I'll enjoy my land and big house thanks
>but where do you work!!!!11
Remote 🙂
>YOU HAVE NO INTERNET CHUD
It's called starlink yuropoor
Starlink micro outages suck during meetings. I'd argue it's not really usable for remote work unless you have decent cellular for calling in with.
outside of pretend jobs meetings aren't necessary
The regular is fine for meetings, just not good for gaming.
I'm getting 25 ms ping to chicago CS servers with very little loss with the priority plan
kek bought NVDA at 2021 and sold them today. Luck can bring gift but cannot generate stable cash flow.
Sold today, Saturday? Okay Jose
I also bought NVDA in 2021 and still hold it. I also bought a house.
Not asking. Didn’t listen. Just wondering how the frick can someone sell stonks on a Saturday.
He didn’t. He’s telling lies on the internet.
I know. He’s probably a teen who doesn’t know shit yet.
>I need social validation to justify my behavior
You think like a woman
Money literally flows, monetary expansion causes money to flow almost exactly like electricity, with the "monetary impedance" (how easy an asset converts to money) of an asset determining how fully an asset inflates for a given increase in monetary base.
While houses will not fall in nominal price, they will continue to fall in real terms due high monetary impedance. Mortgaging a house should not be undertaken unless the total cost is comparable to rent AND the down payment/closing costs/tip is less than 25% of net worth, elsewise you'll be cannibalizing too much of your capital from leveraged low impedance assets (2x equities/BTC) that will outperform monetary expansion and provide a means of escaping the wage cage.
When buying a house with a mortgage you add leverage equal to your deposit to loan ratio. 20% down payment = 5x leverage
>muh leverage
Houses have roughly 2x since 2010, SSO has 15x, QLD 45x
I bought a house and 5 acres in 2019 for 390k, only one other party put a bid in because it didn't look very nice. We got it for 60k below valuation. Today after doing it up it looks great and will attract a lot of buyers when I sell. Worth 800k. While I am waiting for the next step I rent it out for passive income to a wfh geek with a good income.
Cool story. Don't invest more than you can afford to lose!
Expel a few million migrants, supply increases, prices come down.
hey, you figured out the end run of our overlords goals
>fill country with foreigners
>price for everyone goes up
>hahaha i have new serfdom
some zoomer morons bought the house down the street from my parents
it's tiny, poor construction, with very little land and they paid almost $1m for it, and they're still a 1.5hr commute from the city in traffic
they paid full asking price and drive matching teslas
I really don't like zoomers
nah housing will dump. any time dumb money gets concentrated in a market, like american real estate now, it becomes a target for liquidation. anyone who says "how could it ever come back down?!" is simply an unimaginative midwit. if they have to stage a Chinese invasion on US soil to drive down real estate prices, then that's what they'll do.
Simply supply and demand. Every seller could theoretically list their house for 10 million and buyers will have no other option but to buy it at that price.
the question is who is buying these homes
cause most americans don't make that kind of money
>hyperinflation
>things getting cheaper
>enough for large down payment
>enough to make not if I hold and crypto does 5x
>enough to lose it and start again for many years
Aaaaaaaaaaaaaaaaaaaa I might just capitulate and buy a house or some shit idk anon wtf frick off with these threads I don't wanna think about this!!
Owning doesn’t mean happiness
Btw, no matter what you say, it went down, it will go down more , it will take long to recover, and I’m not going to buy the top
It's gone down a lot in terms of big macs. There's no reason it couldn't go down in dollar terms as well. The great boomer dieoff will happen eventually and then it's bound to go down.
imagine being one of the morons who fumbled the generational opportunity to buy real estate in 2020-21 at sub-3% fixed rate mortgages for 30 years, because you listened to a bunch of doomers spouting nonsense
Imagine blowing $50k-100k on a down payment when you could have slurped $3k BTC or $20 QLD
Why didn't you just buy during the last crash moron. If there is another one bet you still won't buy. Fricking moron.
>new paradigm
Realize that you're taking your housing advice from a bunch of moronic zoomers that can only remember back to 2008 so they think shit like that is a common occurrence. You had the perfect opportunity to buy a home during COVID and you missed the boat. A lot of millennials saw it as our opportunity to buy after getting shafted with the aftermath of 2008. If you keep waiting maybe you'll get a second chance.
More likely, you'll own nothing and be happy.
Zoomers were in grade school during 2008
Exactly. They were too young to understand why it happened but they were alive for it and seem to think nothing else happened before that and they everything after it will play out the same.
I hope rates at least come to 5% so I can refinance and get my monthly payments down.
>he thought an increasing population and limited amount of resources would make the resources less valuable
oh no no no
HAHHAHAHAHAHAHAHAHAHAHAAHHAHAHAHAHAHAHHAHA
Oh well.
t. Has 2 houses
Why did this moron think offering the same price it was sold for would be a good idea?
My only hope is that housing prices fall when priced in gold.
Ok here's more context:
If I have an $80,0000 down payment and I buy a $400,000 house at current rates I will pay:
>320k principle
>462k interest
>5k annually for property tax and insurance for 30 years for an extra 150k
>extra 100k to maintain home/hvac/roof
>extra 50k for HOA fees for 30 years
If I buy an average home now I will pay around 1 million dollars over the life of the loan.
If I was to take my 80k down payment and put it into tame bonds making 6% for 30 years and add the $1000 I save from renting to the investments I will end up with positive 1.5 million.
Unless I am dead certain that my home will appreciate to over 1.5 million I would be a fool to buy at this time.
>completely ignores the cost of renting for those who don't buy a house
>puts 20% down
>assumes that the house will grow 0% in value for 30 years
>assumes that mortgage rates will stay at 6% or higher for 30+ years
>doesn't deduct tax benefits (mortgage interest, property tax) from housing costs
>claims treasury bills will earn 6% (30Y is at 4.22%) - expects income to be tax free
>claims HVAC/roof will cost 100k (10k HVAC, 20k roof)
>buys in an HOA at 140/mo
yep, everyone else is a fool, you've figured it out
Your advice would be great if prices were at about 50% of what they are right now. But there's a point where a home purchase just does not pencil out and we are far beyond that.
You're either trolling or a completely financially illiterate boomer that sleep walked into affordable housing and assumes he's a genius instead of just being lucky enough to be born in the right year.
>pointing out horrifically inaccurate math is "trolling"
i knew zoomers were dumb but holy shit
Mathematically prove to me that a median income owner should buy a median house.
who the frick cares about the "median" individual?
every generation has losers, don't strive to be one of them
i already gave you several points where your math was wrong, get out a spread sheet and figure it out yourself
or go fricking ask an AI to do it for you
fricking zoomer learned helplessness
Ah so you can only criticize and won't provide any real information. Thank you for showing that you're a troll.
no worries, enjoy poverty, you deserve it
wrong chart
You're only providing demographic information and presenting your argument in terms of status.
I bet you are a poorgay lmao. You come here to larp. Pathetic!
>presenting your argument in terms of status
yes
you are a loser of your generation, which is why you look at a mortgage payment of 2000/mo and think "HOW CAN ANYONE AFFORD THIS?"
others actually learned math, got higher paying jobs, made ourselves attractive to the opposite gender, and own homes
Lmao you are so fricking poor. Post a picture of your brown hand in your government housing lmao!
Everyone look at this fricking larping Black person and laugh. LOL.
you think i'm larping about a 2300/mo mortgage payment?
are you that poor?
LMAO THIS Black person BOUGHT THE TOP
already up ~50k in 18 months, but i'll never sell that one
could rent it out to some idiot and pocket 1100/mo
i would post my other mortgage but the rate would make you rage
>Haha look at what a good goy I am!
Wow what a fricking normie
Not sure why biz struggles so hard with this otherwise simple concept.
Buying in a desirable spot like a coastal city is like buying bitcoin, it will go up forever but slowly, limited supply infinite demand.
Buying in a flyover state is like hodling a midcap, wont go up much wont go down, unless something happens to demand.
>you can't just ignore the cost of rent but I will ignore the cost of insurance, maintenance, repairs, and upgrades
Kek
i listed 30k in maintenance/repair expenses though?
i agree that there are smaller expenses that should be taken into consideration, just pointing out the one that accounts for greater than 90% of a renter's expense was left out
I find it funny people think this doesn't ends badly when young people can't buy into the housing market.
Badly for whomst thoughever?
young people are buying
first time buyer percent went up in 2023 to 32%, same percent that it was in the 2010s which you are all clamoring to get back to
losers (those who don't get married) are missing out, just at it's always been
1.6 million dollar dream house.
https://www.redfin.com/CO/Denver/3115-N-Humboldt-St-80205/home/169131833
Women
Woops, forgot pic
>31st and Humboldt
>Dream home
lmao.
t. Denver
What if we us city rentoids just moved to the absolute worst valued least wanted rural areas and bought a house for under 100k, and lived off our 401k? I’m thinking rural alabama or mississippi… since the average salary there is way below 50k its quite easy to live off 401k or stock fund if you have a couple thousand in there. You could easily find a mediocre pay remote job too.
There would be not hope of starting a family but lol oh well.
Baltimore falls into same category. Extremely cheap townhouses for around 150k-200k. Btw you will get grants for buying a house in sketchier parts of baltimore. Pig town is good example. Good access to 495 or MARC so you can commute to DC. But I’d think you would lose your sanity living in West Baltimore. So much crime lol. That’s why prices haven’t risen despite such great transportation access to DMV area.
Baltimore is a shithole, the crime is getting worse in the formerly "nice" areas like Canton and Fells. You're moronic if you buy in any city like Baltimore, unless you think that high speed rail to NYC will be announced (it will never be finished).
Baltimore and Detroit made it to the NFL conference championships, the powers that be clearly have their eye on them if the script is throwing them bones.
Yeah they made it all the way to the conference finals to lose, jobbers exist in WWE too.
Baltimore has been good in the NFL for 25years and the city has been tanking the whole time
>Two rings
Hm.
That's the signal that there's still time to get in.
Yeah no, I lived in Maryland for 30 years and you can keep Black personmore, it's a lost cause.
Black folk will change tens of thousands of years of evolutionary pressure if we just keep trying. 2 more weeks!
Yeah no shit. I bought a 1br condo and it's appreciating 10% YoY the last 3 years. If I bought one year earlier that would have been an extra 30%. Once interest rates go back to like 4.5% or so, you're going to see an explosion.
bubble pop?
>every counter argument is status based
Sounds like someone is house poor and coping. Sorry you spent 800k on a plywood shack my dude.
It's worth it. Imagine wasting money on a rent, when you can get a loan now, and eventually you will get to pay it off and that's it. Meanwhile, the other dude is still paying rent with nothing to show after literal decades. There's a reason renting a house is low IQ.
The only thing that would make house prices go down to a level they should actually be at is a revolution in Western nations, mass expulsions of brown skinned immigrants and confiscation of foreign owned assets.
Unless we find a new Austrian painter pretty sharpish you're going to see hyper-inflation and poverty the likes of which you've never even imagined.
There should have already been a housing crash but THEY will keep it from happening
These posts are always from real estate homosexuals desperate for customers
>Reader, you're going to catch the knife on this double top right?
>the yield curve hasn't even inverted yet
I want a big garage to work on stuff. I can either spend 150k on a down payment on a new house somewhere that has one, or just keep upgrading my shitbox house because it's a great location despite being ancient. I think I'll do the latter. It's not the real estate investor long term play but it will make me happier.