/biz/ - Business & Finance

OH NO NO NO NO'
AMERIMUTTS ON SUICIDE WATCH

>>18693272
it happened in europe as well, not to the same extrent and now it will happen world wide

Oh yeah? Take this, gay bears.

>doubles your money supply

>>18693237
>this was in 2008, when the economy hadn't shut down, its coming again, soon

Burgerland in 40 days already achieved 2x the unemployment of the peak of the 2008-2010 crisis.

Keynsians fucked up everything.

>>18693237
https://m.youtube.com/watch?v=7nFbKzt-uwE

>>18693237

I JUST WANT TO BUY A HOUSE.

>>18694006

Just buy a house with that $1200.

>>18694006
im doing it as we speak. will be 65k in debt in a few weeks

>>18693237
>shops closed only 2 months
>muh depression

>>18694198
10 million filed for unemployment in the US alone in one month
>nothings going to happen

>>18693948
This guy fundamentally misunderstands technology. Stop sharing his videos like he has any relevant information that people can use.

>>18694086

whats the house valued at and how much did you have to put down?

>>18694086
Only 65k?

Either you had a really strong starting net worth/huge down payment or you're living in the ghetto

>>18694280
appraisal came back at 76500
cost is 75000
putting down 10000
mortgage of 65000
3.9% fixed at 30 years
payment and insurance of less than $300 a month

I plan on building a 12 month cushion for payments and on making at a minimum bulk payments of a $1000 every year if not $2500 or higher depending on how things go

>>18694006
wait 6 months

>>18694294
suburb in poor euro country in great condition and in a great location

>>18694328
apply extra principal payments once a month in case you need that bulk payment sometime during the year. life happens...

>>18694382
the banks are finicky and wont allow you to do that, if you want to make principal payments they must be done in bulk, she didnt tell me a minimum amount but she said it has to be "something like a 1000". They charge you 2% on top of that as a fee, which means they really don't like it for you to pay your mortgage down lol, sucks for them.

Like I said I will save through out the year and if things go well I will make that bulk payment every year and I should have a cushion in my account to last at a very minimum six months although id like for that to be a years worth desu

>>18694254
>10 million filed for unemployment in the US alone in one month
Governament can support them thanks to the liquidity excess of money printing

this videoe came up https://www.youtube.com/watch?v=waNLk5LOfY8
>the Boatengs saw a nice neighborhood
>wow i want to live here!
>bought a 617k house on a subprime loan
>were able to pay for 2.5 years
>have not made payments in 6 years
>owe $1.4 million now
wtf

>>18694294
Where? Just tell me country. Pls.

>>18693237
pretty based if you ask me. Fuck the banks

>>18694521
we already have to many americans, and french and germans and everything, over 90% of all real estate buys were for foreigners, please kindly fuck off and allow me the privilege of home ownership

>>18694471

Ah yes of course, the "liquidity excess of money printing," can you go into more detail about how that feeds people or creates housing?

>>18694631
I'm Irish. C'mon don't hate.
My country is overrun with south Americans. I just want a nice hot Slavic wife.

>>18694657
we dont have hot slavic women except for the ones that come from bulgaria and old brit milfs who put their kids asleep with surgical sedatives when they go play cards or swing, oh fuck oh shit i gave it away

>>18694518
How the fuck do they still live there - six years of nonpayment good God

>>18694679
Hahaha oh shit, yeah ok I'll let you keep it. I feel solidarity for anywhere that gets overrun with Brits.

>>18694328

$76k are you serious? where the fuck is this at?

Bought a house for $300k two years go. Scared I was buying the peak. Zillow says its worth $600k now. Jpow and Trump are going to hell and back to bail out my profits now too. Might even vote for Trump out of gratitude for printing that much money to save my massive gains, probably even make me more money.

It's not going to happen. Housing market went to shit in 2008 because the whole crisis revolved around subprime mortgages. Homes and homebuilding will be fine, but commercial real estate will probably take a hit, what with all the companies declaring bankruptcy. But I wouldn't expect the same kind of opportunities you'd see a decade ago.

>>18694840
I don't know, think of what it means that 33% of all renters are deferring or not paying their rent. These missing payments are going to impact landlords with multiple properties who are operating on very tight margin levels. I expect that there will be a panic sell off after we get -40% GDP growth from the second quarter. Think of it this way, you've been able to get a loan with less than 1% down payment and a 650 credit score or so with the help of a FHA loan. Now, Chase bank announced that they will not be approving loans unless the applicant has at least a 700 score and puts at least 20% down; and that should be foreshadowing of the storm that is coming. Thats not even taking into consideration the fact that there are over 20 million people in the United States who have filed for unemployment.

>>18694254
>10 million filed for unemployment in the US alone in one month
Governament can support them thanks to the liquidity excess of money printing

>>18694328
Anon, please look at this: realtor.com/mortgage/tools/mortgage-calculator/

Yes you have low monthly payments - but, you're going to spend a huge amount on interest instead of equity.

>>18695191
That’s the thing isn’t it? People think they know what’s going to happen because the economy is simple but it is only deceivingly so because there is tangled weave underneath of extremely complex relationships, I don’t know if many people here even were around in 2008 or even comprehended what happened till it was already passed I know it was past 2009 before I even realized something was going down because i lived in flyover and we were totally unaffected by the 2008 recession. The staggering number of people unemployed spells massive defaults coming in the pipeline, people are so undisciplined that If I tell someone you don’t have to pay me today but in two months I want what you’d pay me today plus what you’d pay me next month, a vast majority of people can’t do that. So the implications here will be massive and we really don’t know how it will turn out but almost guaranteed there will be a real estate market crash

>>18695576
ever been homeless or so much spent a night on the street? well im making sure that won't happen to me again

>>18695576
yeah but the low monthly payment means he can save more to invest and I bet he can get better than 3.9% returns on his investments.

>>18693237
kek.
I remember people leaving their keys at the banks and walking away

>>18694776
this

>>18695576
Yeah but it's probably cheaper overall than renting an apartment.
I think the idea of real estate equity as an investment is retarded. Everyone here has already lived through 08 and now we are going to see another real estate crash within the next few years.
So I look at mortgages from the lens of 'Can I get this so that it's cheaper than a comparable rental?'. Worst case scenario, I walk away and my goyimscore takes a small hit, no biggie I'll build it up over another few years anyways.

>>18695588
curious what percentage of home buyers dont have a 700 credit score and less than 20% down. at least in my area, im not worried about it. legit no one has lost their jobs, and a lot of the people that have own their homes.
tfw just a tad worried but my areas seen a very healthy, steady increase in property value that doesnt look bubblish at all.

I have 124k in house money adding to that stack every month and I am NEVER. FUCKING. BUYING. until this shit crashes at minimum 50%

>>18695618
Anon, if you were literally homeless on the streets: good for you making it back - that situation is so different from mine I cannot comment further.

>>18695909
>>18696104

I think that these are fair arguments to make - however, it demands an individual make a minimum rate of return of interest rate + inflation just to justify making fewer payments or having a shorter mortgage. Additionally, if you enter the urban housing market low (like in 9+ months) you will see benefit just by holding the land. Where I live, based on my rates I would require ~6% real growth every year guaranteed. Also consider that building equity can allow you to avoid additional insurance if you bring a 20%+ down-payment on a subsequent purchase. It's possible - but, slightly more risky than what I personally would be willing to make on such a large investment.

>>18693237
It sucks now as well. Unemployment increased, price of the properties dropped and inflation. At least in the EU.

>>18696515
>price of the properties dropped
where??
t. wants to buy a property in the EU