/biz/ - Business & Finance

I'd rather live in a van than line up some Boomer's pockets

>>14314535
>buying hyper-inflated boomer boxes
No thanks, Anybody who isn't waiting another 10 years for the boomers to die off and take the entire housing market with them is sub-0 IQ. The wealth of an entire generation is locked up real estate. What could possibly go wrong?

>>14314614
Some of us dont live with our parents and my mortgage is cheaper than rent in the same area. Ill have my house paid off in 10 years even faster if this is BULL.

It's a scam, housing will not be bullish for the next 40 years


Take away price sepeculation and what do you actually get when you purchase a house?

Just a huge Neverending maitenance and repair bill, you have to subsidize your renters, and the tax man has your name and address in his log and you are just going to become the target of more taxes over the years.

No one is going to want to actually own these peices of crap as soon as price speculation is killed for good which is already happening

Cached out 1/3 of my crypto stack in jan '18 to put $100k down on a house. Best decision I ever made. Mortgage is less than a half of what comparable rent would be. And I don't have any wall neighbors or noisy landlords. With the government printing a trillion/year, stocks mooning hard, I'll have it paid off in a year. Might just wait till bitcoin is $20k, sell to pay off the mortgage, wait for bitcoin to crash then refinance to buy back in. I essentially have access to hundreds of thousands of dollars at near 0 interest rate, when the government is massively in debt printing money. Don't see how I made a mistake.

>>14314641
>not selling his shitbox, living in a luxury van and investing every single penny available on crypto
Never ever gonna make it you boomer

>>14314698
Where do you live?

>>14314850
im 28 inb4 boomer is a mindset.

Pay 1000 to an actual boomer for rent.
Pay 900 for a 3x the size and air BNB the upstairs for more income... MMM Yah was a real tough one.

Money is forever being printed the population is forever expanding... do the math.

I make 120,000$ a year.
My partner makes 70,000$ a year.

Our bills are modest. One car-- one 1300$ rent apartment. No other major expenses.

We have a hard time stomaching the idea that a mortgage for a 3 bedroom home in our area would put us on a 3000$+ mortgage every month. We're not interested in making a move to another state, where houses would be 1/3rd the price...due to family and friends, etc.

So here we are. Buying is a fucking meme right now. Rent away or buy a home in a shit hole state and city.

>>14314890
>money will be printed forever and the ink will never run dry
kek you are at peak delusion my friend, check yourself before its too late

>>14314535
Cause they cost 1.5 to 2m dollars and banks wont give us loans with 5% down. Its fucked.

>>14314829
These are just larpers who live with there parents. I don't see it as a good thing or a bad thing. I'm paying money to someone every month regardless. I might as well try and own it.
>>14314935
Things will get worse before they get better. Things are pretty fucking good desu.
>>14314905
3000*12*30=1,080,000 average house. Cuckifornia Kek or just a larp
>>14314960
You can move you know

>>14314905
Do you know what home equity is you stupid fuck? Look it up. Or don't, and keep flushing your money down the drain.

>>14314859
central Albania

>>14315030
>home equity
it's that thing that makes your insurance and property tax higher each year yet severely underperforms every other investment under the sun

Buying a house now is just like buying bitcoin in 2013.

>>14314614
What if investors buy up all the houses and prices keep climbing?

>>14314905
kek, where do you live and also please define shithole state and city.

>>14315949
They will. Open borders and all.

>>14314535

https://finance.yahoo.com/news/the-trump-tax-cuts-are-still-bombing-154647685.html

https://www.engadget.com/2019/01/18/tesla-laying-off-7-percent-workforce/

https://www.cnbc.com/2018/04/18/the-amount-of-retail-space-closing-in-2018-is-on-pace-to-break-record.html

https://venturebeat.com/2019/01/02/apple-slashes-q1-2019-forecast-blaming-china-and-low-iphone-upgrades/

https://www.cnn.com/2019/02/15/business/payless-closing-stores-bankrupt/index.html

https://www.bloomberg.com/news/articles/2019-03-04/mnuchin-invokes-special-debt-measures-to-last-until-june-5?srnd=premium

>>14314829
or you can just rent and liquidate your downpayment and swing trade your buttcorn, and you dont have to worry about locking up your capital in a paid off boomer bag that crashes 50% and not lock your body up in a GPS location

>>14314698
Just because you're a sociopath doesn't mean everyone else is too.

>>14314641
I pay roughly $850/m for a 4-bed. If things go to plan I'll also have paid off in 10-15 years. By the time the children on this board start worrying about their first home, we'll have no mortgage and comfy living.

>>14314890
>what is the opportunity cost of a downpayment and hidden maintenance and fees associated with tenants

>>14316089
I'm more interested in what they do to save money instead of a mortgage. Living with my parents doesn't seem like something I want to do.

>>14315062

There are no property taxes in Albania....for now.

t. Albanian

>>14316089
congrats on your home on the outskirts of oklahoma city, omaha, or wichita

>>14316089
I never see house as long term. I only bought houses that are easy to sell. On our 3rd right now. Swing trading my way to mansion

>>14316146
You saying people lie to random strangers on this board?

>>14314982
You do know how mortgage interest works, don’t you?

in the village where this nigger lives they don't even pay for electricity. Notice he said central Albania. That's what villagers do, say which region they are from cause nobody heard of their town. Only Tirana pays their electric bills. If he were clever he would start an eth mine there and just steal from the government.

>>14316211
Wait you saying I have to pay money to borrow money? Holding for an entire 30 years is bad

Could easily get approved for a 15 year mortgage but don't want to cash any crypto out just this moment

Check out all these new real estate companies advertising that you work with them and never have to show your home and deal with any of the hard stuff when it comes to selling your house. These companies are just buying up people's properties and renting them out. That's why nobody can compete.

>>14316255

>>14316174

meant to reply to this faggot.

>>14316255
>>14316255
I'd actually recommend an XMR mine since they're about to change algos to something supposedly ASIC-incompatible.

>>14314614
>What could possibly go wrong?
Governments try to prop up this market by pumping in record numbers of shitskins and chinks, thereby killing western culture and locking out the next generation from entering the housing market?

>>14316319
Fucking this combined with foreign investors putting money in REIF's if not outright buying the properties themselves is why "le we will buy up all the boomer houses for pennies when they die in two decades" is the biggest meme on /biz/.

>>14314535
Too much student loan debt

>>14314535
Alright bought one since 2013. Duplex for 800k, sold for 1.45m. Bought a house with that money.

>>14314698
>>14315893

You do realize you pay tax and maintenance when you rent right? You pay your landlord's tax, which is actually likely higher than you would pay as a resident owner. And when you rent you can hardly fix things yourself, every little thing the landlord has to have his expensive property manager send licensed professionals to fix easy things. All of that cost is passed on to you through rent.

>>14316378

W/e, I've already got my house. You will always need a place to live, when you rent you are literally betting for the dollar against real assets. The government is now printing a trillion dollars a year to fund itself. All mortgages are given by a money loosing, state owned company and is essentially free money.

>>14316663
>Why does rent keep going up.
>If only I could lock in my monthly costs.

>>14316319
they invest in what they specialize in, you invest in what you specialize in

that's the new economy

>>14314905
>partner
literal faggot

>>14316663
>You do realize you pay tax and maintenance when you rent right?
wow
it's almost like rent is the max I'd ever have to pay in a month and PITI is the minimum
it's almost like after all that the price to rent a small apartment for myself is an order of magnitude cheaper than buying an entire single detached home
it's almost like I would rather have licensed professionals fix my shitty rental than try and fix a stick built plywood suburban shack myself
it's almost like the satisfaction I get from the look of absolute enraged hatred my employer gives because they are holding zero leverage over me because I can simply pick up and move wherever is worth the $800 per month I spend on renting

>>14314535
Ok everyone listen up. My logic is undeniable on this one. The price of housing is tied directly to jobs. Jobs are what makes an area attractive to live in.

In silicon valley where tons of folks have 100k+ a year jobs the price of housing is like 3 million bucks. On the opposite side, after the automakers moved out of Detroit and there were no jobs you could buy a house for about $500. Not 500k, literally half of one thousand dollars. There were no jobs in detroit so the land had no value. The same thing is true in flyover country. No jobs means cheap housing. All those closed down coal mines meant the price of housing in those areas plummeted. Same thing with those ancient ghost towns from the early 1900s. As soon as a mine gave out the jobs disappeared, and the land value dropped so hard you cant give the houses away. Same thing in Japan with everybody and their mom moving to tokyo, because tokyo is where the jobs are. The government is just giving away rural houses now because nobody wants to buy them. The same pattern keeps repeating over and over.

Now the interesting part: because of AI and automation jobs are declining globally. Soon there will be no jobs at all. No jobs means no money to buy a house. Real estate values all over the world are going to plummet in value to near zero and stay there for the foreseeable future.

Do not buy a house. You will regret it.

>>14314905

>makes close to 200k
>muh unaffordability

Kys my dude

>>14314587
Because they gamble all their money in ponzi schemes like crypto instead of investing it in things that actually have some worth

>>14317205
I think you're right about everything except
>Soon there will be no jobs at all.
The only thing close to replacing a shit ton of jobs is self-driving cars/trucks, which are still a few years from actual road ready consumer models. It'll probably be 5-10 years before one is released and meaningful displacing jobs.
In every other industry AI and automation aren't even close to replacing jobs, it will be decades before that happens - unless the singularity happens and speeds up that timeline massively.

>tfw living in a rental I moved into back in 2012 for $700 and still paying that when comparable homes in the area are going for $1200 a month or more

Honestly I live in constant fear he's going to call me up one day and tell me to pay double or get out. I'll probably just rope because I'm sick of the fight.

>>14316945
Being able to move whenever you want and call a landlord and tell them to fix shit for you is huge. Quality of life is important.

>>14317205
A better way to say this is that any increase in wages is eaten up by land values.

>>14314535

because boomers

>>14314698
Real estate is the most tax advantaged investment vehicle in the country retard

>>14317394
https://www.quantamagazine.org/does-nevens-law-describe-quantum-computings-rise-20190618/

Bout a few months away from quantum singularity and crypto obsolete

>>14316945
Megamind move is to rent an apartment where you want to live but also buy rental properties in other markets that have good rent to value ratios

>>14314587

First post best post.

I'm making 100k a year and I'm about to move into my uncle's basement and pay him $300 a month.

I CANNOT wait until this market collapses and I can scalp some boomer who "knew what he had"

student loans cost as much as a house

>>14314535
>falling for the wood jew
enjoy your mortgage

>>14317542
The land value is derived from the wages, not the other way around. Also if you bought in early, wages went up, then you would be double blessed because both your wages went up and your housing value.

>>14316126
>Downpayment
Hard yikes, you have no clue what you're even talking about.

>>14319229

>Bought a house
>Wages went up
>Property value went up
>Get letter from county
>"lol we increased your property tax by the same amount as your raise at work"
>Fantasize about hanging elected officials from trees

>>14318373
You’re a faggot

>>14314960
i bought a small 2 bedroom house for $110k and it has a nice little yard and im happy cause its paid off. your main mistake is being uneducated on the market and prices. seems like u are one of those fags who is afraid to leave a big city so youll get raped on housing prices in it. big cities are fucking cancer. crime is sky high no matter what city it is. the only real solution is to move to a city with a population around 50k and buy a cheap house u can actually pay off in a couple years. that, or just buy a condo but dont pay the jews any more rent, its money wasted.

>>14318463
Or, even easier, put that money into REITs

Or, EVEN easier, realize that total US stock ETFs carry REITs by market capitalization and that tilting REITs in a portfolio typically has little benefit due to tax inefficiency so you should just do that

>>14316154
Can confirm
t. Omaha fag

>>14314535
The issue is also that most of these houses are old garbage and not newly build.
Endless maintenance and before that a whole repair job that will probably cost 1/3 of the house itself.
Why would someone buy trash like this for 500K-1mil?

I'm TFW without gf or wife or kids, what would I need a house for?

Because they have unrealistic standards and all think they are entitled to houses within 5 miles of popular urban centers.

>>14320022
This to be honest.
Here in Europe I can buy a small one bedroom apartment for like 70-90K euros and chill.

>>14320029
This is old trash that is already in decay and will break apart.

I don't see the point being locked into a single location for 30+ years. I prefer liquid, consistent passive income that enables me to move wherever I want.

Want to chill in Japan for a bit? Boom, easy. How about Eastern Europe?Easy, south america? Gone. You get the point.

Burgerland is collapsing too.

>>14320051

>2005
>old

I'll bet it lasts longer than your 2 million dollar shed in LA will.

>>14320029
I live in NE and that home probably would go for 130-150k and rent 1200-1500. I keep seeing these low prices in PA. What’s the catch?

>>14320051
>old trash
>built in 2005
Uh what?

>>14320096
Look at the construction, it's literally wood.
Insulation probably minimal, the rot has probably already begun in the wood.
You will pay in repairs and energy costs a lot.
We have no idea in what condition the roof is, probably bad.
Don't you even ask yourself why this house is so cheap and why no one has bought it yet?

>>14320219
Roofs typically last 20-30 years. So it has 5-10 left. Different insulation can be put in if needed at minimal cost. Now it’s been on the market for a long time and I don’t know the market. My guess is there is something wrong with the location. If it can rent for day 1,000 a month and with conservative estimate of 10% vacancy then this is a great home. I would never buy a home for myself to live in. That is fucking retarded.

>>14320084
Meth and Opioid addicts as neighbors

>>14318349
try living in new hampshire

>>14320219
>Look at the construction, it's literally wood.
lol you don't know what you are talking about, I am living in wooden house built in the fucking 1850's.

>>14319824
>>14320029
lol I wish I could buy a 110k bedroom an hour outside a big city.
Anything that's under 200k is in a trailer park or it's a 150k meth shack that would take 100k+ in repairs

I'm looking at 270k minimum if I want to drive 45 minutes to work, 300k for any shitty building near the city.
Shit is crazy out here, I'm going to buy a place with a friend just so I don't have to keep renting but you faggots gloating about 40k and 110k houses have no idea how good you have it.

>>14320436
Why? I was planning on buying a house in NH...

>>14314587
based and vanpilled. i unironically lived in a van down by the river 2017-18 and saved a shit ton, all in'd link at sub 30 cents, and even managed to bang a few freaky hippie broads. can't wait to scoop a multi-unit complex when the boomer market implodes.
>that's right old man, look at me... i am the boomer now.

>>14314535
I bought a house, its not like its impossible, you just have to think a bit smaller than the stupid boomer mansions and have to look in smaller communities. I bought a two bedroom house for $75,000 cash. Life is good.

>>14314587

Fucking this.

I'm not going cash out some fucking Boomer or Gen-X cunt, who purchased a piece of shit plywood shack for $180,000 back in the 90s and now wants 700,000 for it here in Toronto.

>>14320894
lets just say we have no income tax but we make up for it with our property taxes

>>14321347
i mean sales tax not income tax

>>14316925
Exactly I'm gay and literally nobody says "partner" when they refer to their boyfriend unless they're fucking weirdos that have issues with internalized homophobia.

>>14318566
This. I don't own any crypto but a friend does, I told him that if things go well he has to buy a house and rent it back to the boomers will lose it in the upcoming housing crash.

>>14319910
REITS LMFAO enjoy your 4% dividend goy

>>14314905
>Rent away or buy a home in a shit hole state and city.

Fretting over 19%. Never gonna make it.

>>14314614
>he thinks USA real estate is for US citizens
Gen X won't be selling their inherited houses to us, they'll have better offers from the Chinese trying to get their money out of china.

>Source: New York, Boston, London, Seattle, Los Angeles, Vancouver, Toronto, San Francisco, Paris, Sydney, Melbourne

>>14321366
You were right the first time. They have high property taxes. The only sales tax in NH is on restaurants and hotels. The population is mostly white. A lot of libertarians. Low violent crime. It looks lovely.

>"investing" in single family zoned suburban housing

>>14322023
Nationalism is the solution.