/biz/ - Business & Finance

>>11118649

You can still buy a cheap fucking house anon. You are just conditioned to be a snob about such things

In London, the cheapest house in a fucking dump is 15x your basic anal salary

Trying living in Australia cunt

in1985 you didnt have .........
in 1985 you couldnt ........

blah blah blah it come with the blah blah blah

>>11118649
What happened to bizonacci?

>>11118670
Waiting till next year. Watch that shit drop

>>11118649
>>11118668
>>11118670

Is this really true? I keep hearing how boomers had it easy and cheap back in their time but I’ve never seen any graphs to back this up

>10x your annual salary
if only. frog here, average house price is €300k and average takehome after taxes is €26k. that's average salary... as in, most millenials are earning less than that

>>11118677
What do you know anon?

>>11118681
In Australia we had a period qhere the government was matching superannuation contributions. So the boomers were doubling their own super from government funds, bought up all the housing using negative gearing tax laws they now want to roll back, and now they want the next generation to retire at 70. Bunch of cunts

>>11118665
>just buy a cuckshed in a rural area bro
>meanwhile boomers could easily afford houses in the center of big metropolitans

>>11118665
Ok wise guy, go buy a $1 house in Detroit and stay the night in it. Live stream it so we can watch you get murdered.

>>11118649
Back this up with any data faggot

>>11118702
welfare for the rich

job search agencies for the poor

thats straya for ya

>>11118649
Haha that's nothing sir, here in Bombay a 2000 sqft apartment costs $2 million usd which is over 1000 years worth of salary for an average man making $1200 usd a year (nation median income according to the government)

>>11118693
The world government is finally going to admit the Earth is flat and Australia is going to fall off the planet since it's upside down.

>>11118745
>gen xers and zoomers all want to live in the city
>hurrr why are citiies getting larger and property prices are through the roof

retard

>23
>102k AFTER taxes
>bought a 700k house a few months back

AMA

>>11118702
And don’t forget that 60% of our taxes go towards people above 50 of which 40% go directly into age care.

I wonder if we, the ones that actually pay for it will have the same benefits..

Government pays 100-300 dollars a day per granny depending on the level of care required but apparently young people is to blame for the welfare state because we get student loans lmao, the absolute state of boomers

>>11118780
Good goym

>>11118649
its 15x where i kive

>>11118649
it the EU it is literally 18x annual salary

The average salary vs the average dwelling. And let me tell you the average dwelling is FUCKED UP.

>>11118649
s t o r e
o f
v a l u e

>>11118649
There are still nice houses in the midwest for under 100k.

>>11118770
Nani the fuck? How does that even work?

Papua New Guinea - 181.6x
Congo - 153.16x
China - 40.8x
Japan - 19.85x
Australia - 15.49x
United Kingdom - 13.13x
New Zealand - 9.46x
Canada - 7.59x
United States of America - 4.18x

https://www.towergateinsurance.co.uk/commercial-property-insurance/house-price-income-ratio

>>11118649
>in 2018, a house is less than 2x my salary

>>11118681
In Uk the cunts have raised retirement age to 70 and you can get a mortgage till age 80 to make it more affordable.

The Jew bankers created this fucking mess and now have us by the balls till we drop dead.

>>11119113
Osaka is cheaper than I expected. Nice place.

>>11119012
South Bombay, all the daddy's money people live her sir. Even the richest man in Asia mukesh ambani lives here in the most expensive house in the world, his house costs $2 billion usd sir.

>>11118776
Literally this imagine a beautiful rural countryside town with a bunch of /biz/bois in it we would have nice roads and a great school
we can here the distant explosions out in the wood
where the /k/ tribe lives

I wish I had more homies (not more people just less old farts) my age in small town USA

>>11118649
Average salary is 50k. You can get a house for 100k.

>>11120578
Private, invite-only towns built from the ground up is what I intend to create in America for fellow anons who endured through this past decade. Many here have similar desires.

>>11118665
kys boomer apologist

>>11118649
https://www.youtube.com/watch?v=bH-nBcrTwYI

>>11120602
I'm liking this wavelength we are on I was thinking something similar like residency applications
Perhaps even children of the parents must apply for land when moving out but they will be protected if the parent inherits them the house

I really wish we could get a whale here to fund such a thing start off with 2k acres build some real estate write town bylaws list them under the application and work are way up from there

BLAME CENTRAL BANKING AND GOVERNMENT POLICIES

WE NEED A FREE MARKET

a house here is 40x my current salary

>>11118665
lol yeah drop 150k on a shed in rural areas which will all be depopulated once the boomers die off

good idea

>>11118670
There's a Royal commission in Australia at the moment. They're uncovering a shit load of mortgage fraud that's been going on. Literally bank managers accepting envelopes filled with cash to give out huge mortgages people can't afford. Plus the Chinese money is going in reverse.

yeah well you faggots are also "entitled" to a new iphone which is like 2 months pay .

stop sppending money on dumb shit and buy a goddamn house

>>11118693
Next stage of the NWO's plan.
1. Pump the biggest global credit bubble in human history
2. Let it drop and ruin everything
3. Blame the current systems rather than the debt (e.g. ebil nationalists, trade wars, EU referendums, etc)
4. Put forward a solution (i.e. a single global currency)
5. Use global currency to control the world and create the one world government

>>11122262
>it's those damn millennial wasting their cash on avocado toast
You dumb, fucking faggot.
This isn't a buyer's market.

>>11118665

it's literally an objective fact that single family starter homes have not been being built in the last 10 years and there's a shortage of them right now.

you're just another retarded brainlet who spouts opinions on /biz/ without knowing anything about markets or reality

>>11122312
i bought because im not poor

>>11118649
One of my boomer relatives actually tried to defend this saying "well back then we didn't have expensive smart phones to waste money on so we could afford houses". Really bitch? I can't afford a house because I spend $700 every 2 years on a new phone?

>>11118665
>you can still buy a literal shack in a shitty nigger neighborhood

Thanks based boomers

>>11122700

What do you think you're doing when you pay 10 times as much for an apartment in the city?

>>11118649
A house is still 2x my household income.

>There are people ITT that think houses aren't massively overpriced
Living in your mom's house is not the same as own your own.

>>11123770
They're overpriced. We will see a sharper correction than 2008 soon. But it's also a result of inflation.

>>11123803
The current housing bubble is almost entirely driven by corporate entities buying up homes en masse and renting them out.

The government gave the top earners and corporations in the country massive tax breaks and years of easy credit and QE.

>>11123770
Everyone knows they are overpriced but people still need a place to live and Mr Goldfarb is more than happy to loan you 20x your salary for 50 years @4% variable.

>>11123803
>correction in 2008

Nigga prices stayed the same people refused to take losses just nothing sold and those that did was few and between. The only real correction was the sercuities which are still as fucked as they were then. Boomers thinking their poorly kept house is worth 300k is only going to stop once they're all dead.

>>11122685
Yah know, kids this day, they are just lazy. The things I worked for, they just want them, and they think they're hot stuff but they don't know shit.
MARYLOU! How many times do I have to tell yah, keep the Monster stocked, woman!

>>11118665

Wow.

Where I live anything under $200k gets you a piece of shit.

$50k is a good salary and that's STILL 1/4 the total amount to get a piece of shit house.

THANKS FOR THE PONZI BOOMERS ENJOY GOLFING 4 DAYS A WEEK.

>>11118681

It's totally true.

My GF's dad got a job at GM motor company in 1980. WITHOUT A COLLEGE DEGREE, he was able to earn about $28k a year. A nice house back then could be bought for $100k. With conservative spending he could literally pay off a nice home within 5 years.

Shit is retarded. Just look at current polls. nearly 60% of millennial cannot afford a home, and when asked were "seriously concerned" about debt.

>>11118649
As (((economists))) intended all along

i bought a condo that's less than 1x my salary

>>11118681
>>11118762

https://www.economist.com/graphic-detail/2016/08/24/american-house-prices-realty-check

looks like it's more like a double in price rather than the quadruple that OP argues.

>>11118649

>6-10x your annual salary

LOL in which poor shithole do you live?
Here it's at least 30x.

BOOMERED

>>11124858

Boomers won though.

If they bought a house in the 1970s by the the mid-80s after a decade and half of inflation, my uncles utility bills were more than their mortgage. A lot of my friends parents bought multiple houses because it was practically gifted by inflation.

Those house prices skyrocketed to insane values my late 1990s and 2000s and now are astronomical compared to what they paid for them.

On top of that they have fortunes in from the bull run market in the 1990s and right at retirment from the bull run market in the last 8 or so years. They're laughing at us.

>>11124961
that's why we're moving from the fiat standard like they moved from the gold standard. I wonder in 10 years from now how many houses will I be able to purchase with my cheap bitcorn bags

>>11118649
yea, but you have a smartphone, so it cancels out.

t. boomer-leech that destroyed the country at least 3 generations into the future

>>11124961
And intrest rates didn’t change?
Nice larp brainlet

lmao me and my gf are literally living with parents for 3 years so we can put down a deposit on the absolute cheapest house on the market

you need at least 2 people to buy a house these days

unless you want to live in a 1 bedroom flat surrounded by subhumans and drug addicts

>>11125592

This is not larping idiot. This is a well known fact.

https://www.quora.com/Did-people-who-bought-houses-in-the-70s-essentially-get-the-house-for-free-Was-the-price-so-low-that-the-cost-and-or-debt-was-inflated-away

And they didn't scam you with ARM mortgages back in the 1970s. They were all pretty much fixed.

> Adjustable rate mortgages returned to the market during the 1980s under the discretion of the Federal Reserve.

https://www.mortgagecalculator.org/helpful-advice/american-mortgage-history.php

everybody complaining about why home prices are so high today and so cheap before. it doesn't matter really. in the same time period, stocks have always returned far higher then the return on a property. sure there are exceptions in localized areas but the same is true for some particular equities. the world has gotten wealthier from equities and those people have money to spend on whatever they want, properties included.

>>11125592

Larping moron?

> I looked at the house I grew up in bought in 1973 for $45,000 and noticed it had sold in 2015 for 2.55 million. I looked at average median salaries for a HS teacher and in 1973 it was $11k so the house would've been about 4 years worth of salary. In 2015 a HS teacher made $57k median. So that would be about 48 years of salary for the same house. I

> I have a family member who was an electrician in the 70s in the union, making $40K/year. His first home cost him $16K...that was in 1971 or so. It was a 5 bedroom victorian that today would sell for $300K.

> In 1972 I bought a little 2br/1ba cottage-like place in Silicon Valley, on the San Francisco Peninsula. It was nothing special, built in the 1930s, and had originally sold for something like $3,500. Its main “feature” was an AM radio built into the kitchen wall. It sat on a 50-foot wide lot on a fairly busy residential street. I paid $23,600 for it. Seven years later I sold it for $56,000 to a relative, and that was a pretty fair price for it. My relatives remodeled the kitchen, and kept it until 2003, then sold it for $630,000.

https://www.quora.com/Did-people-who-bought-houses-in-the-70s-essentially-get-the-house-for-free-Was-the-price-so-low-that-the-cost-and-or-debt-was-inflated-away

>>11125735
lol boomers act like it was hard, but their own words confirm the memes are true:

"Shortly after I graduated from college, I got my first job. It paid $10,000 a year. A few months later, I bought my first place—an efficiency condo for $29,000. I’d saved up enough money from summer jobs (such as $1.15 an hour at a Baskin-Robbins ice cream store) to be able to put 20% down. So I had about a $22,000 mortgage at 8% interest. My mortgage was around $250, and the condo fee was about $60."

>>11118690
this. varies a bit depending on the specific country, but the ratio is pretty much like this.

First understand that despite rise in housing price, rise in stocks was 10x more. So the people who happened to have their money in bluechips could easily cash out 10% and buy a house, even though house price rose significantly.

Second, foreign investors, noticeably chinese, are cashing in their monopoly money into usa assets for safekeeping. Our government completely sold us out.

Third, we are all living in the late stage cycle of western civilization. If boomers lived during caesar as an elder, we are living in the era of nero.

We are only here to be exploited as our owners try to hang on to society as long as possible. But the collapse is inevitable.

We will teach our children only one thing. That in eras of exploitation, you MUST VIOLENTLY REVOLT. Its either that, or become onions faggot cucks like we are, staking our lives on shit like CHAINLINK out of utter despair.

Look, we're fucked

Too many people have mortgages, so we can't build more houses to lower prices, because then people will go into negative equity and get fucked. 2008x1000 will happen

>>11125949

This is the secret why they cant build houses.

Lower house prices will completely kill collateral. As a banker, i know this. We do 80% ltv loans. 20% may seem like a lot of cushion, but its not. At all. The system would collapse.

>>11118681

My gramps bought a house for 28k while making 10k when he was 30 and had a bachelors degree. He was an accountant. He’s now 84 and the house is worth 800k.

>>11120596

Yeah but the places where you can buy a 100k house, the only job openings are at Walmart and pay $8 an hour

>>11118649
Only because you insist on living next to 7 million people. People will SEETHE but this is fact.
>live in bumfuck nowhere?
There's cities outside of NY and San Francisco.
>>11118681
It was a lot easier.
In Melbourne, you could literally step off a boat from Greece with no skills whatsoever, walk to the nearest factory and get hired on the spot.
If you didn't like the job you could walk right out the door to the next factory.

I saw a chart a while back on the inflation adjusted income of doctors over the past few decades. In the 1970's the average doctor made the equivalent of almost a million dollars a year. It was pretty much a golden ticket to the upperclass.
My grandparents were lower class and they bought a fucking apartment complex in san francisco.

>>11125939
give me a break, by dollar value, foreign buyers make up just 5% of all US sales using the most current statistics. the price of housing is not dictated by 5% of the market, it's dictated by the 95% percentile, which are Americans.

>>11126109
damn son, your gramps bet on the wrong horse. 28k over 54 years would've yielded a lot fucking more then just 800k. actually from 1973-2016, 43 years only, would've yielded him 3.25million in a sp index.

>>11118649

Houses in good shape in decent areas around me start around $175k. I'm about to close on one for $181k. I make about $45k and gf makes about $32k.

You certainly can find shit houses for like $150k, but they're not houses most people other than investors/flippers want.

You should have bought the dip. I got my house in 2009 for 2x my annual salary.

>>11118665
You aren't wrong.

>WHY CAN'T I BUY A 200K HOUSE IN SAN FRANCISCO IT'S NOT FAIR

>Can easily get 2000 sq feet for 200k in the midwest

>EW WHY WOULD ANYONE WANT TO LIVE THERE

>>11120602
and then the government will flood it with infinity niggers

>>11118649
vancuck here

16-20x median gross now>>11118665

>>11118649
https://www.youtube.com/watch?v=z_EqZrreW4g

>>11119113
>houses in japanese cities which are overpopulated as hell are affordable
what the fuck?

>>11119884
Looked this dude up. If I had 40 billion dollars I wouldn't build a private skyscraper in India though.

Isn't much of the world economy de facto tied to real estate prices? Lots of small businesses use home equity lines of credit, boomers take out home equity lines of credit, banks (especially in places like Canada and Australia) are massively levered up on the housing market, lots of companies use mortgage-backed securities as collateral to borrow against, rich people are storing their wealth in empty houses, etc.

>>11127066
japan has very little restrictions on what you can build on your own land.

>>11124961
why does it look like she's holding a massive dong

>>11118649
maybe 2x your wage, white collar cuck
i live in southern ct and can buy a house on the water in a year and a half of work

pic related

>>11125939
>t communist cuck

just work hard lmao you faggot

>>11127207
Pls not again the biz offshore welder 400k$ a year meme.

>>11127252

500k, lurk more.

>>11122281
Thats the plan but it is failing so far.
Globalism is losing and nationalism is going global.
If they don't get a big war, they lose

>>11126584

Can’t live in stocks

>>11127279
I'll bite. How long does it take to get into (training, qualification etc) and how does one start?

>>11127321
he could've taken enough from the capital to pay for rent and invested the rest. im not even counting the dividend gains on that figure either.

>>11127337
Where are the biz welders???
Help this brother out!

>>11127355

So boomers had it even easier than today since they got cheap houses and crazy returns (S&P forecasted to return only 5% per year over the next several decades). FUCK boomers

>>11127355

Yes, it’s about a 400% gain after inflation which is a lot less than stocks. His house has barely any renovations done to it and there are some newer built ones on his street going for 1.3M.

>in 2028, a house would be 30x your annual salary
we were never meant to make it

>>11127337
It's pure meme newfriend, google it.

>>11124961
Her arm looks like a giant dick.

>>11126584
>in a sp index
They didn't exist in 73.

>>11118649
>tfw 830k house
>tfw we're going to clear 400k this year
>tfw no one will ever believe me

You guys are doing it wrong. You know where their money is held. Follow it. I've been doing that and from late 2012 to now, I've turned 10k into 300k. No additional money put in, only the starting 10k. Don't let the boomers use taxes to finance their life. Take back your money.

>having to take care of an entire house
gross and stupid

>>11120596
>Average salary is 50k.
median income for an entire family with two kids and a dog is 50k

>>11127830
>
Uh wut?

>>11127337
Not only is it a meme but you have to place your life in the hands of minimum wage fags.

>>11118681
All it takes is a google search, retard.

I went into the supermarket this morning and all the boomers were buying young plantlings for their gardens at a few bucks a pop, eg tomatoes, chillies, zucchini etc. I'm standing there thinking 'these stupid cunts buy these plants year after year after year instead of just harvesting some seed or even buying the seed and starting with that' and yet they all live in houses worth over half a million dollars and never worked for them.

Fuck all these fucking filthy boomers.

>>11118665
Yah if you buy in downtown niggerville

>>11118649
Problem :)?
t. actual boomer

>>11118681
>once i see an unsouced, unlabeled graph ill be convinced
nice one, retard

>>11127541

Naah dont say this

It would be that high if we had no crisis
Not very likely
In 10 years people on /biz/ will look at this thread and wonder how people could have caused the biggest financial bubble in history of mankind that finally lead to a harsh decline in the west when it bursted in the early 20s
Times are bad...but they wont get better. Boomers will be old and helpless when the financial system collapses. The ones that have children which care for them will be able to survive...the egocentric ones will die in the streets and their wealth will be taken...no happy retirement for uncle george and auntie stephanie which thought having no children to spend money for vacation was a good idea
Family will have a higher value again by then...even in an economic way...since they will be the ones to provide help for the poor boomers when social securitis will go to the gutter

>>11118665

>>11118649
make housing mortgage illegal, the price will crash instantly

>>11118762
cnbc.com/amp/2017/06/23/how-much-housing-prices-have-risen-since-1940.html

https://www.longtermtrends.net/home-price-median-annual-income-ratio/

>>11118649
>60k salary
>600k house
If I am LUCKY. I live in Toronto. That's how much a condominium costs, a house on average is like 2 million.

>>11128667

Patience

One time comes we will take of the boomers...at least of the ones that deserve it
They will be old by then
And they will have nothing to defend them...then will be our time

What stops you from mowing over two old sacks and taking their thingies when there is anarchy for two months after a currency collapse...

>>11126920
Urbanfags are scared of rural areas

>>11118649
My house is 2.3 times my annual salary. Get good?

>>11127021
or pull a waco

>>11128712
No ones going to care about a few retards rioting because crypto collapsed.

>>11129151

Crypto is not important

Global debt is...

And the fact that is is literally impossible to repay global debt

If the tiniest dipshit country like turkey now falls european banks will have massive problems

>>11127207
tfw the thumbnail looks like a link cube