/biz/ - Business & Finance

>>11895989
how much money would I need to make a month to buy a 300k$ house?

renting is often financially optimal when you consider how much it would cost to buy in the same area you live and the opportunity cost of your down payment

>>11895989
I live in manhattan am I poor?

>>11896041

in the long term renting is always worse. its a question of how long.

>>11895989
>imagine being so uneducated that you think owning is superior to renting

>>11895989
This thread again.

>>11895989
Kek

>>11896021
0, just forcefully move-in and change the locks

>Imagine being so poor that you dump your life savings into a poor man’s stock market and get rekt on coins like bitcoin and ETH and other shit coins that only have value because of speculation, hopes, and dreams

>And are delusional And obsessed with get rich quick schemes because you hate your life and yourself and just want to play vidya and jack off all day. Instead of having a career and investing so you can retire early in your 40s and live the life you want

>>11896042
Anyone can "live" (rent) in manhattan.
You don't "live" there unless you OWN.

You can be kicked tf out any moment. Faggot.

rich people can rent
poor people can't afford to burn money on rent

get it right

>>11896088
you clearly have no idea what you are talking about. The ROI on owning your own place is highly dependent on a number of factors.

>>11896651
Nah. A lease is a legal contract just like the mortgage for your shitty house in the middle of nowhere.

>>11896651
1) You can't just evict a tenant without cause in the middle of a lease.

2) There have probably never been more tenant favorable laws than there currently are in liberal cities

3) If you own, you are just a tenant of the government instead of a tenant of an official landlord. congratulations. They can still kick you out at any moment.

>>11896730
>>11896707
Nice, after your 1 year lease, you are out. LMAO

>>11896236

And to add.

Imagine being so poor that you still live at your mums house at 31 and couldn't even rent if you wanted to.

No money in savings with 2 month's neetbux left hoping your amazon FBA business will pay off so you don't have to wageslave for garbagebux

>>11895989

Tfw when renting 2 bedroom house in Santa Monica for $1200/mo

> rent control

I’m never moving

The working class will have their revenge on the parasitic landlord class sooner or later.

>>11896807
Hi /tenant/, sorry to inform you that the building has been sold to a developer and is being torn down. As per Landlord and Tenant law, this is legal ground to evict you. We wish you the best of luck find a new place, as we know rent has gone up significantly since your initial lease.

>>11896680

Owning has more up front costs, but in the long term you are only paying tax and maintenance. Both are baked into rent, in fact non-owner occupied tax is usually higher, so you are paying higher tax when renting. You are also paying your landlords mortgage's interest too as part of rent.

If you know for a fact you are going to be moving in a couple years then renting might be cheaper, otherwise 9 times out of 10 owning will be cheaper after a few years, even if your house depreciates, its just a matter of how long the savings will overcome the initial cost.

Think about it like renting or buying any other good. More up front cost, but overall cheaper in the long term to buy.

Im renting this apartment for myself, government pays my mining costs etc.
Still dont know who is John Galt? Buy Satoshi's Vision or die trying.

>>11896807
Damn that's nice anon. I used to live in Venice beach and paid over $2k/mo with a roommate. Still worth it cuz I was a block from the beach and I'm not a poorfag.

>>11896158

>>11896834
How's the suburbs of Ohio this time of year? Don't forget to shovel the driveway so your car doesn't get stuck on the way to the plant tomorrow. Also kys, loser

>>11896021
$60k down and a salary of $80k a year.

>>11896758
and you pay me $3k. look up Mandatory Renter Relocation Assistance. Coming to a city near you.

>>11896905
rentfag cope

>>11896969
Keep pretending you're getting a good deal lmao, boomer landlord is having a nice retirement because of you.

>>11896969
Thanks for paying for my mortgage and taxes, I barely do any work and make money off people like you.

>>11897242
if you are making money, you already had a shit ton of equity lying around anyways. if you are buying at the standard cuck mortgage of %10-%20 down, you aren't making shit for at least 5 years till the rental prices catch up.

>>11897206
lol shut the fuck up ignorant fag, there is a reason why everyone in a non flyover city is doing AirBnB instead of renting to tenants. tenants annihilate structures and will cost you thousands in legal fee's. i bet neither of you guys have been sued.

>>11897340
>angry rentfag upset hes paying my mortgage

>>11897366
no i'm not. i'm paying your taxes, and maintenance. all of which are sunk costs i would've payed anyways. i generate no equity for you unless that building is close to being paid off.

Fuck setting roots

Shitty neighbors? Move away
Money pit? Move away
Natural disasters? Move away
Country starts burning down? Move away
Dox'd? Move away
Lost your job and need to relocate? Move away
Niggers start getting bused into your kids schools? Move away
State becomes a haven for illegal immigrants? Move away
Landlord becomes shitty? Stop paying rent for a few months and move away when/if you get the legal eviction notice. They try to go any other route, shoot on sight or sue for the house.

The breakeven point for owning a house is years in, I don't trust things to not go to shit by then. The inertia and overhead required to sell and buy a new home is tremendous.

the bottom line here is that owning is a better deal in cheaper, less volatile markets. If you want to live on the coasts then renting beats owning. You can use the money you would use to make a down payment on a coastal home to buy up rental property in the midwest. I'm currently doing this

>>11896042
I lived in Washington Heights for $580 a month. Decent area too. Only thing that broke the bank was paying for parking in that shithole. Not moving back to Manhattan until I can afford a penthouse on the UWS or LES.

>>11897497
one day you'll become a man and stop running away from your problems

>>11897497
>buy land/house in bumfuck wilderness
>live off the land
>never have to worry about any of these things

>>11897754
Probably not, and I'm okay with that

>>11897920
shoot yourself right now
all problems disappear you never have to worry about a thing

>>11897920
>>live off the land
hahahahaHAHAHAHAHA
he thinks this is so easy... why aren't you doing it already? you could simply take over some unclaimed land and do it. good luck with that, though

>>11896651
New York has relatively strong renter's rights, it's a lengthy process to evict someone even for lack of pay, and taking the law into your own hands by changing a Tennant's locks is illegal. You need a court order, and only law enforcement can forcibly evict someone.

>>11895989
>imagine being so poor that you rent lmao
IT'S EXPENSIVE HERE IN YUROPOORIA REEEE

>>11896730
at least by owning you have more say over your property. if you rent, the gooberment and your landlord owns you. if you own, just the gooberment.

Plus, taxes are deductible. Rent is not. And the taxes on a paid off house even in high tax areas is cheaper than rent for an apartment. When you pay off a house, it's like living in a large place with, less, tax deductible rent.

>>11898196
My boomer dad does it but he wants me to pay rent to live with him, meaning I have to save up to buy my own or wait for him to kick the bucket first

>>11896730
>There have probably never been more tenant favorable laws than there currently are in liberal cities
Canada has much better renter's rights than the us. Did you know that in Montreal it's illegal to demand a security deposit or multiple months rent in advance.

>>11896969
>what is incremental increases in rent across the board to account for the risk?
>inb4 hurr durr no it won't

>>11896807
>$1200
Jesus Christ you Americans get absolutely robbed with your rents

>>11895989
I live with my friend in his apartment for free so my monthly living expenses is only what I purchase for food

>>11895989
u think u sounded so cool lololol

>>11898320
Santa Monica is coastal. how much for coastal where ur at?

>>11895989
>not renting as many places as you can
It's like you hate money

>>11898320
American financial gurus tell you not to spend more than 30% of your income on rent but that's a complete pipe dream these days

>imagine buying (((property))) so the government taxes you for that OWNED property
>imagine not calling that rent

>>11898465
imagine causing accidental bodily harm to someone and owning them 150k and losing your property over that

imagine being fined to death and being liable with property

imagine some business fuck up and being liable again and losing it

imaging renting and being in the gray economy all cryptos and cash

>>11898465
Derp
$1500 rent vs $100 property tax

>>11898313
year over year rent increases are capped. look man, i was a landlord. it fuckin' sucks and in retrospect i would've made more money if i had just yolo'd ETF's during those years. bad tenants can absolutely JUST you by either destroying your property or sueing you for some petty bullshit. i imagine it may be more lucrative if you have more than one property or a whole building, but just one (1) house is not fucking worth it.

tha being said, i'm thinking about getting a condo to AirBnB but only in a place that i would want to go vacation at or visit.

>>11897671
\thread

>>11898465
>1500/month for 1000 sq ft apartment
>900/month in taxes (tax deductible) for 3000 sqft house

Dummy

>>11897671
how do you manage them remotely? my one place required constant babysitting.

>>11898614
That doesn't refute or discuss the point.

That said, I agree, owning a rental property is dumb depending on the price.

>>11895989
This is not a meme, this is almost as bad as trying to force that shrimp farm meme

Failed miserably

>>11898649
it does refute the point because year over year rent increases are capped and most landlords were maxing that shit out every year anyways. i

>>11898623
>live in a city with tons to do hot women everywhere
>live in teh middle of nowhere or next to niggers

Dummy

>>11898277
imagine being north european lmao

>>11898465
can anyone clue me in on the philosophical framework used to legitimise a tax on home ownership ? Its not like the house in question still recieves services from the state, I mean the utilities etc are all run by for profit private corpos right ?

>>11896730
>They can still kick you out at any moment
How is life there in soviet russia?

>>11898750
its protection money. those lines on the ground only mean anything because the US govt defends your claim to it.

>>11898639
Get a good local property manager. Yes you certainly do not want to self-manage remotely that would be a nightmare.

>>11898752
https://en.wikipedia.org/wiki/Eminent_domain_in_the_United_States

>>11898301
yes this doesn't surprise me, I wasn't restricting to US liberal cities. Canada is even more cucked so this makes sense

>>11898289
I'll concede there is a psychological benefit to owning your own place. I only argue that renting is often financially preferable to owning.

Paying off a house fully in this interest rate environment is extremely dumb, you don't want to do this. Why would you ever turn down a 5-6% fixed rate loan that can't be margin called as long as you make your minimum payments.

>>11898775
mmm yeah i thought so, from my perspective its basically because you fall within a geographical region thats governed by a certain party (a municipality) so they can tax you, but its basically the same thing as protection monies if you reduce it to its logical conclusion / basis.

>>11898816
You get a market value for your property and if you don’t want to sell you can sue and these cases can drag a lifetime and usually end up in landlord’s favor

>>11896158
based

>>11896707

the difference between a mortgage and renting is you will eventually own your house. You can also pull out the equity that you have in your house. Your rent money is just going directly into some rich jew's pocket