/biz/ - Business & Finance

>>12496823
lmao how can anyone deny we're officially in recession if not financial panic mode?

>>12496823
Yes. Small town Alberta. Sellers are trying to wait it out, but they don't know what's coming.

Yes. Bunch of boomer faggots who think their mcshitshack actually appreciated in value from being lived in for 20 years and not being improved in any way.

>>12496840
Even worse, a lot of "DIY" work that is so painfully bad you know it's going to have to be redone and replaced.

>>12496823
about 1 year ago Passed out flyers in a neighborhood of about 100 houses... at the time there was only 2 houses for sale.. now there are over 13.. 3 of which are on the same street....

>>12496846

>tfw destroying boomers as a home inspector and pointing out all the unsafe and stupid shit they had done to their home.
>tfw clipping $75,000+ off the value of their shitcans be being thorough and legal.
>mfw they try to sue me for doing my job correctly, and I win and claim damages from them every. Single. Time.

>>12496830
Yeah I remember the same thing happening in 2007. Open house signs. Balloons in the air over newly built homes.

>>12496883
Based. The hero we need but don't deserve.

>>12496823
quickly goy, buy our houses, we need the retirement money!

>>12496823
They all bought the top.

Yes. In my area, people are getting trapped in their homes. Taxes skyrocketing, real estate stagnates, prices drop.
>pic related
I would have bought a house by now if the school and property taxes in this area weren't so fucked.

>>12496831
Is Canada fucked

>>12496892

>mfw they bribe me to cut corners.
>mfw realtor also bribes me.
>mfw I make a full and complete report anyways.
>mfw collect full price, plus their bribe, and dare them to due me at which point I can counter sue them for even more.
>mfw so many desperate faggots trying to sell (CA) that I can't possibly burn enough bridges to fuck myself.

>>12496925
CA is where I'm from. That's where I'm seeing so many signs. Signs on the highways not even near residential areas advertising homes and apartments and such.

>>12496902
It's on a bad path.

>>12496902
They're in for hyperinflation. Massive money printing to prop up housing prices.

Lots for sale in Australia. Theres heaps that say for private sale too

you faggots need to state your country

Canadians? Australians? Americans?

>>12496823

yes, including outside our house, and no one wants to pay what we want for it lol

>>12496840

So it's just like zoomers trying to offload their shitcoins bought ar ath?

Califag here, my dad just bought a suburban house for 600k to rent out for only $3200 a month

How is this better than buying shitcoins, when you consider how much tax and mainetenance he has to pay

I see alot of them, prices are almost as high as they were before the 2008 financial crisis in my country

whatever you do, do not buy a house now, the bubble is about to pop and the normies wants out

>>12497075
Is he losing money every month for this investment?

>>12497075
Because real estate will never fall to zero like all your shitcoins. This is why your dad made it and you never will

>>12497075
on a 15 year mortgage he pays taxes and interest and the renter pays 100% of principle. That's not considered a loss.

A small US hedge fund in Denver just put huge shorts in the Canadian, Ausi, and Chinese banks. Connect the dots my friends

>>12496823
Baltimore area, yes. First half of last year, houses were getting bought the second they hit the market in my neighborhood. But nothing's moved in months now and the for sale signs are growing.

>it's gonna crash just like my kiddiecoins

You realize people need houses to live in right? The alternative to repaying a loan is paying rent.

>>12497255
People have always needed houses but they werent this expensive in the past

>>12497264
The only reason for that is the growthing demand due to population increase and more single households. Furthermore wages are stagnating for years, obviously it increases, when you change the equation and inflate the market constantly with cheap money.

>>12497150
What happened?
Why is no one buying a million dollar particle board shed in a fucking vibrant Baltimore?
Goddamn millenials and their avocados.

>>12497264
There has literally never been a a time when people needed to own an overpriced piece of garbage. Rent is pretty much always the better choice, financially speaking. One builds equity, the other leaves you with liability and a money sink. Just for fun I won't explain which is which. I know you will be too stupid to figure it out since you're a home homo, and this amuses me.

>>12497511

Giving someone else money to pay off their loan builds equity alright, for them

>>12497264

There's less land and more people. That's how supply and demand works. Lower supply + higher demand = higher cost

>>12496831
Last ones to the fire exit get burned.

>>12497563
I'd rather have lots of money than small amounts and never getting to have more than a very small amount. Not sure why this is such a difficult concept for you.

>>12497075
>Live in Australia
>Rent out house for $420 a week
>House is worth $600-700k
Owners are getting 3% rental yield a year in my town, if your dad is getting 6.5% that's really good.

>>12496883
based

>>12497255
you realize that nobody is getting married right?
you realize niggas are living on their parents house, right?
you realize niggas are just renting rn, right?
you realize these prices cannot sustain themselves, right?

>>12496883
Doing God's work anon

t. Civil engineer

>>12497127
So.. 2008 all over again?
Plus the Euro Zone taking a huge dump?

Wew

>>12496887
>Balloons
The irony is not lost on me

>>12496925
I was around in the 08 crunch. Lesson from an old fag: greed and corruption eventually crash and burn. It just takes longer than the ethical people prefer. If you're in for the long haul, stay ethical even when it feels like you are the only one doing so and you're missing out

>>12496823
You can already buy houses in smaller towns in California for ~$50k.
The market is crashing everywhere except in big city centers.
I'm not a super-hiper-real-estate-specialist (I have some real estate though) and it seems to me that possibly the best investment at the moment would be to buy old apartments in tenement houses in semi-rich European countries, Italy, Poland, Hungary, Portugal etc.
You can still buy great apartments there for extremely cheap next to city center in heavily urbanized areas, mostly from old childless people. They will all require some investing when it comes to the renovations, but:
>The prices are peanuts in comparison with USA.
>Location is EVERYTHING, no matter the country.
>Their demographics isn't as fucked as ours.
>Continental European real estate market is still developing and the value of all investments will rise by a huge margin without any doubts.
Just my two cents.

>>12496883
Not all heroes wear capes.

>>12496979
Why selling?

>>12496925
Based if true.

>>12496969
This.

>>12497404
Kek.

>>12496883
I dropped 60k$ on renovations for my house in 2014. Probably could have done it poorly for more than half that, but opted for the right way. Now I'm close to closing it and getting >200k in tax free capital gains.
>Comfy-30-year-old-Boomer.jpg

Outlying area of Vancouver here.
3 br apartment dorm rooms in the sky go for 1-1.2M CAD in my neighbourhood, triple that downtown. Everything is starting to sell off. Houses on my street are going for 250k below listing just to get them to sell. More for sale signs going up now as the chink money pulls out. I'm all cash right now trying to decide if I should buy gold etf or not. Shits about to go.

>>12496887
>saw a balloon on an open house sign today
>oh nos economy crashing cuz balloon

>>12496823

OH SAY CAN YOU SEE

>>12496883
Based and boomer-pilled. Lmaooooooooo

>>12497638
What is a reverse mortgage for $1000

Here in spain banks are trying to sell homes ocupied by squatter, which you cant evict because they're protected by the commie government. They're asking for 20 to 50k.
Do you think it's worth to buy these, murder the squatters, dispose of the bodies and instantly double your investment? Been unironically been thinking about it.

Here in spain banks are trying to sell homes ocupied by squatters, which you cant evict because they're protected by the commie government. They're asking for 20 to 50k.
Do you think it's worth to buy these, murder the squatters, dispose of the bodies and instantly double your investment? Been unironically thinking about it.

>roastie gf leaves me and moves to austin
>immediately knocked up by the next guy on tinder
>the guy is forced to buy a house top of the market $500k

i was in one of the last white neighborhoods here in Miami. they built high rises on the outskirts of the neighborhood and now dousche millenial spics are destroying it. everyone is trying to sell

>>12499352
Just move in some bulky dudes who would make so much ruckus the squatters will have to move out unless they don't value their sanity and comfort of life.
Another good idea is to "renovate" windows, you know, remove them and wait until better time to put them back in.

>>12499807
>move in some bulky dudes
nah you cant do this, the laws are so stupid you cant move in or evict them, if the squatters are living there already you're fucked, it's their home even if they don't have the property title
>Another good idea is to "renovate" windows, you know, remove them and wait until better time to put them back in.
Again, you don't have access to the house, if you go in they can call the cops on you. If it was on floor level maybe you could even do it from the outside, but hey it's spain it's barely even cold in winter.

it's the reason banks are selling this shit, because owners are powerless against squatters, and the only way to profit on this is murder

Philly here. I'm far from an expert on real estate, but this city seems to be somewhat isolated as far as the housing market is concerned. It feels like prices have been on a slow and steady increase for all of these years without an extreme spike, so a slow and steady decline might be expected. Certain neighborhoods are building up fast, but there is a sense in the air that it's slowing down just a bit. There is a ton of new construction. Developers have been buying entire blocks and putting up cookie cutter row home, and it's the kind of thing that you can't imagine going on for much longer. I'm personally going to continue renting because I don't love this place and see myself bailing pretty soon. Can't help but feel like some friends who have bought in the last couple of years might be feeling some regret soon.

>>12498251
fuck off destroy your own country, you sound the chinese

>>12499903
*like

>>12496823
the economy is much worse than people think.
according to all the chart data, a catastrophic crash is overdue.

we will reach depression levels in america by the end of 2020.

ITT: loser NEETs claim the economy is bad because they're loser NEETs

>>12499849
I have a better idea. How about getting a ton of bugs - bedbugs, cockroaches, fleas, etc and releasing them inside the house. literally smoke them out and then when they leave you hire pest control to remove the insects.

>>12499991
I'm reading about it.
Apparently it's illegal to change the locks when the squatters are out. You'll get sued by them, the cunts just go to this support associatoins paid by the city council that provides them with a lawyer, there's precent of people getting assraped for doing just that.

>>12500077
I didn't say anything about changing locks. Infesting the house with naturally occurring pests and them leaving on their own seems the easiest and most legal method. Might be difficult to get certain bugs, but I am sure you can figure something out if you're serious about it.

>>12499926
can't wait, hopefully it's catastrophic and the US devolves into complete turmoil and hysteria and 150 million die from starvation and illness. it's our only chance to make American 90%+ White Again, aka Great Again.

>>12499849
just kill them anon, get rid of the dregs of society. the fact your commie government goes out of their way to protect that scum is argument enough to hang your law makers.

I have a 100k townhouse paid off that I currently live in. How to rent it out and use 'equity' everyone talks about?

>>12500077
>buy the house
>take out insurance policy
>set fire to it at night after barricading the doors
>collect insurance, use to rebuild house
>sell

>>12496883
based and inspectorpilled.

>>12496883

>>12496883
cheers mate

>>12496883
Holy based

>>12496883
are you an appraiser or a home inspector?

>>12496883
Based anon, I can only hope I will one day grow up to be a man like yourself.

>>12497075
it's the effect of 10 years of nearly free money after a period of 30 or 40 years of expensive money. and cost of equity has been falling while rates rose recently. buyers of large rental properties are often foreign (e.g. borrowing in their currency for even cheaper if from europe) and the deals they're doing have really low returns, to the point where it seems like it must be just about perceived capital appreciation or even just diversification. it's literally as simple as interest rates and wages. with all these new minimum wage laws that have been put into place in various states rents will probably keep growing after hitting a ceiling in a lot of places over the past year. without major rate increases this should keep the nominal price train rolling on real estate until 2022 or 2023 at least. it might just runaway forever until some day of reckoning is forced, but I see no evidence that is near

>>12500673
learn "property condition assessments" and you can. i know a few companies have to subcontract those because finding anyone who knows how to do is it uncommon. not rare, but uncommon. fairly decent job security, though i only sub those for commercial. i dont do residential so not terribly familiar with the market. its one of those skills that some of the older folks in property transactions know, but theyre paid too much to do it anymore.

>>12496883

some day i hope to be as based as you

>>12496883
Sadly this wont work in high cost of living cities like DC. People are cash buying rotted out houses sight unseen for 400k and up.

>>12496831
>sellers are trying to wait it out.
Not the ones who are selling now, which is likely comprised less of the savvy single property homeowner and more of folks who flip realistate for a living and are trying to liquidate as much as possible before the next correction.

>>12496883
>mfw
>doesn’t have the updated Elon puff pic
here ya go, lad

>>12499948

This 100%

A bunch of anecdotal faggots in this thread. Show me some actual information. The housing market is doing fine. Prices will come down naturally due to interest rates slowly rising and these homes will eventually sell. This is a normal phase in the cycle.

>>12499948

This.

>>12496901
>property taxes
A friend of mine actually dealt with this recently. He ended up renting out his house and then renting a place where rent was cheaper than the mortgage payment. Smart move, because now his renters are paying off the mortgage for him essentially. I'm not sure if he factored property taxes into what he's charging in order to get that paid as well, but property taxes have been going through the fucking roof where I live. I'm definitely not going to be buying property in this area for a while with all this property tax bukkake going on.

Same shit in France
Even in the small towns

>>12501326
>neefy

>>12501442
that's really the only major drawback to real estate. it's immoble and there is always a local extortion racket that demands protection money from you when you "own" it. in times of budget shortfalls for the local cartel it is always the low hanging fruit to squeeze out the difference

>>12497264
If we all decided to burn all the banks to the ground it would solve everything.

>>12496823
*inhales*
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

1929X2 HERE WE GO!!!!

The absolute state of this Shit board

>>12496883
If the boomeress has to sell her stupid porcelain collection to pay for damages you deserve a 10k stack of link

>>12497594
fucking kek

>>12498251
Italy especially. Some of my friends were looking into buying what is essentially a fucking mini castle, like made out of stone and everything, which is selling for like $1 million USD in the Italian country side. It'd be for personal use, but I totally agree on the apartment/tenement house idea, though I also am not a real estate specialist.

>>12498261
You fucking have to go back, you collasal faggot.

>>12496883
Thank you for your service. I told my boomer parents their renovations would add no value to their house and they just laughed at me. They had to eat the costs to be able to sell the house. Now, even though they are struggling with crippling debt, continue to perpetuate their own private hell and want to do renovations on their current house. How do they not see they are choosing enslavement?

>>12499355
JUST
U
S
T

I'm from Austin and luckily am inheriting property, otherwise no fucking way I would buy in this market. Like seriously, people started buying 2 bedroom homes which literally used to be crack houses in formerly ghetto neighborhoods for like $300,000 or so. Sure, they're close to downtown, but why the fuck would you do that?

>>12501641
Boomers are obsessed with renovations because they think it will somehow renovate their shit life

>>12501678

You said it yourself. Its close to downtown, and Texas' cities is growing due to the influx of Califaggots.

They're betting on gentrification to drive up the property value. They're no different than any other form of speculators, be it shitcoins or stock.

>>12496925
>>mfw so many desperate faggots trying to sell (CA) that I can't possibly burn enough bridges to fuck myself.
greatest post of 2019 yet

West coast. Pay is off the charts and decent homes are 400k. Economy is a boomin.

Hint not Washington or California.

>>12502120
O re go n

Live in Oregon, average list to sell is less than a month, mostly because of people fleeing California

>>12501919
Yeah I mean I definitely get that and my family and I are benefiting hard from it which is great, but you can honestly live in the suburbs and take the Metro rail and get downtown fairly quickly compared to waiting in traffic and live in a much cheaper environment. Also gentrification has already happened.

I'm not a fan of the California mindset, but at least they can't completely fuck up our political system with their retarded ass views due to the rest of the state outvoting them by a landslide, minus the last election, but that was probably because of the whole fallout from when Ted Cruz was running against Trump for the Republican ticket. Still won though.

>>12496883
nice

This tread is filled with uninformed normie npc bullshit. DYOR. And by thy I mean actually do research

>>12502120
>>12502163
Shale oil is a bubble also

>>12502182

This 100%. People who were raised on the west coast want to continue saying on the west coast. Seattle is overpriced and Portland is literally the same as Seattle, but 50% off.

>>12499868

Most of South eastern PA is like that. My parents sold their new construction boomershack they bought in 2005 for a profit in 2011. Most mid range housing didn't go underwater. If you were in real estate in this area you got the benefits of liar lians pre recession and ultra low interest loans afterwards, with no huge downside loss of equity during the crash.

>>12502298
*Liar loans

>>12501588
di ai tuoi amici di aspettare.
Qui finiamo con le pezze al culo e investire nel mattone può costarti nel breve dal 20 al 40% in meno di 2 anni. Ossia aspetta che i prezzi crollino, il mutuo ti costerà di piu ma potrai avere lo stesso immobile alla metà del prezzo.

>>12501678
That doesn’t sound expensive at all. I live in New Orleans and shit shacks in the lower ninth ward go for that much.

>>12502386
Thanks for the advice ItaliAnon, yeah it's gonna be a little while before they'll have the capital to start buying property overseas as they're still getting their real estate rental biz established here in the US. I expect real estate prices to fall a good bit within the next 2 years or so, so its definitely a smart idea to wait a little bit.

My wife and I actually managed to crawl out of 30 yo/ boomer hell after ten years of saving and living like monks and wanted to buy a house, cheaper than rent in our area, believe it or not.

Looked at EASILY 100+ properties, 90% of them were either riddled with Boomer neglect, or “renovations,” usually both.

Houses that clearly weren’t to code, dumbass things like “renovated ” garages, but electrical system was 45 years old and out of date, idiotic shit like spiral stair cases in the middle of the living room floor, blatant shoddy self repair jobs everywhere. Electric left off for months during summer to spread black mold etc. Houses that I wouldn’t have paid a dollar for these assholes wanted 300k for with a straight face.

Had to replace our first realtor because as we came out of a clearly water damaged basement full of mold she asked if I wanted to see the upstairs rooms.

No I don’t want to see the upstairs rooms on this literally worthless death trap covered in dog piss, I’d like to go now, and you’re fired for even entertaining the idea of letting me buy this shithole.

Long story short we found a pretty good house, ended up with +35 equity at closing, and under the 10K tax bracket, so value goes up every year from that alone.

What a fucking process though, the government will end up buying out so many of these worthless “houses” because Boomers have completely destroyed the existing inventory of homes.

>>12502602
Well, the thing is that you can get a house twice that size with a decent yard, patio, and in a safe neighborhood with good neighbors for $50,000 less only 10-15 miles away from the downtown area. Sure you have to pay for gas and wear and tear on your car if you work downtown as well as deal with traffic, but at least you don't have to deal with a gang of rabid homeless people coming out of nowhere and mugging you on your way home.

>>12497594
go back to your neonazi containment board you fucking faggot.

>>12496883

Wewlad, a true hero.

>>12499926
can you eloborate why? i started reading economic books just for fun but i'm still not at the point where i can come up with a sound economical predictive model.

>>12496883
The hero we all need

>>12503271
Well, lets look at the actual unemployment rate for starters. While the government reports it to be pretty low, like 4% or something, in reality it's much higher due to how it's calculated. People who are part time workers or "disenfranchised/discouraged" workers, i.e. said fuck it and gave up because they sent out 500 applications but couldn't land a job and are on NEET bucks aren't included in the calculation. I would estimate that the actual unemployment rate is between 20-25%. So that's a quarter of the population who can't afford a home, let alone be able to get a loan without an absurd interest rate. This is happening at the same time that boomers are trying to cash in on their "investment". So that's the real estate market right now.

>>12503378

Who cares about the poor fucks? Theres plenty of people who can afford homes.

Low income = no luxuries sucks to suck but population growth is high af and we still have enough to buy houses.

>>12496883
You're out there doing KEK's work anon

>>12496883
>tfw clipping $75,000+ off the value of their shitcans be being thorough and legal.

Home inspectors aren't assessors.

>>12503168

>Only neo-nazi's don't want to live next to blacks in section 8 rentals

Anon, you have to be 18 to post on 4chin

>>12496883
nice larp, that's a appraisers job not a inspectors.

>>12503611
>>12503642
I'm not a legal/home expert but in my shithole corner of the world you cant deny a buyer to bring in a home investigator before signing a deal. Any faults they bring up that has not been listed will be weighed in by the buyers on the price.

>>12503733
a home inspector will create a deficiency report that lists any of the problems associated with the property. this is at the cost of the buyer. the buyer can then ask the seller to lower the price or fix the deficiencies or they will walk away from the deal. nobody ever sues a home inspector for creating a deficiency report.

an appraiser is however, typically hired by the bank to ensure that the property is close to the value that the borrower is asking for.

nobody sues home inspectors because the seller can simply reject the buyers offer and wait for another buyer.

>>12503733
also, yes you can deny a buyer to bring in a home inspector. you simply list your property 'AS IS'.

Ohiofag here, houses are up for sale but most are being bought relatively fast. I think its people from Colorado and California that can buy midwest houses but would be living in a shack back west.

>>12503767
>>12503791
No point in arguing, I don't know the state of the US house market and anon is most likely just over exaggerating what he's doing.

My local market for houses is going down the shitter and home inspectors cause a bunch of deals to fall through since they lower the value on boomer sheds that are left unsold. New productions are also so abundant and on constant sale that no one bother with houses that require more than 10'000€ worth of renovations or repairs. IF this was the US then I could see them getting sued (you know, sueing culture, not that its super common or big but its still there)

>>12496823
It's a sellers market, supply is rising. Get ready for a crash.

>>12499948
The economy is bad that's why we're NEETs.

>>12503378
this is true. real unemployment is at great depression levels.

>>12500657
AYOOOOOOOOOOO JAEGER SHOT *drops the n-bomb, fingers his ass, and falls over passing out*

>>12499948
Meaningful employment is increasingly rare and locked behind a paywall in the form of college. If it costs more to get a job than it's truly worth and entry-level work barely pays the rent than the economy can be considered bad by any rational metric.
>>12504749
I think their estimate is a bit too high. Underemployment is a bigger issue. There's an abundance of shit-paying gigs but who the fuck wants to work at one when you can't even afford a subsistence-tier lifestyle?

fuck white people

>>12505097
>t. turdworlder

>>12496883
Based and inspectionpilled

>>12504750
>n-bomb
Kill yourself niggerlover

>>12496925
>guy gets shot in the face
>only memory of his death is some redneck making a gesture

>>12503168
Lol yea it’s proven niggers lower home values. I know facts are a bitch right?

>>12497052
Yeah, except housing actually matters and won't wreck the entire economy.
>>12503510
Those "poor fucks" are the bottom of the pyramid you retarded kike - if they can't work because they can't afford to live where the jobs are the ponzi ends sharply. Combine that with soaring debt levels and the lack of consumption by the peasants at the businesses they normally frequent and it starts to drain the higher tier social classes. Bunch of follow-on effects in fact, and that's before we look at the state of the (ever shrinking) middle-class. Don't they teach you this shit at Talmud school? If you whip the slaves too hard & don't feed them the productivity drops and you end up poor too.

>>12503168
Fuck off /leftypol/. Even if you unironically love niggers you have to admit the whole pepperpot theory doesn't work in the actual, real-world housing market. This is about business & finance, not politics.

>>12499293
Kek

>>12504749
You could make up any line and draw it on there. The jn5FnXScStats™ unemployment rate is currently 100%.

>>12505072
Why people can’t just self employ

>>12506755
Cornering of most markets by powerful corporate entities, harsh taxation and regulation of such activities by the government, lack of access to low-interest/interest free start-up capital, and a diminishing middle class market to sell to in the first place. Self-employment is pretty common in the form of side hustles actually, it's just rarely viable to make it into a business. In the information age emerging markets get saturated really quick too. Everyone and their grandmother is drop-shipping now for example.

A significant portion of what was considered worthy of self-employment meant taking on the role of the middleman. Companies being able to reach their consumer directly with the internet and efficiency improvements in logistics chains diminish this sort of activity. People could theoretically self-employ en masse starting tomorrow, but 99% of working people would be in a worse situation than they are now. Starting a business in the current economy is arguably meme-tier advice at this point.

>>12503791
No one buys as is unless you live in some shit show like SF, la, nyc, etc where you pay $500k for a closet.
If you do buy as is and don't live somewhere like above, then you're retarded or a Boomer.

>>12496823
We need to ban homes as investments and speculation. Especially from foreign buyers and corporations. They all buy it up and can afford to have no one live in it and wait until their inflated price is bought eventually.

>>12507692
The Chinese are literally buying to squeeze white people in Canada, Australia, and the US. It's economic warfare.

>>12496831
Shit better happen fast and furious

t. Albertan sitting on a deposit ready to buy the fucking dip.

>>12505595
He was by all metrics a huge meathead faggot anyway, it's probably the best thing he has co-collaborated in anyway.

>>12496883
How much skrilla do you make as an inspector?

>>12504673
You mean buyers market