/biz/ - Business & Finance

>>20041656
almost all homeowners rented at some point in their lives

almost none of them decide to go back to renting

perhaps it's not as terrible as you pretend.

>>20041656
>Low interest rates have made it so mortgages have blown the fuck out to huge amounts that you now must borrow to buy a house

Uh, what? Lower interest rates, lower amount to borrow.

>In the long run the amount of money you save renting, that you invest, works out much more

Most mortgages are cheaper than rent. So how are you saving more money?

>Your house won’t pay you an income at an point in life

Fuck I’m losing braincells. You actually pay to own your home, unlike renting and paying for your landlord’s monthly vacations.

>you have to either be a brainwashed by your dumb ass boomer parents, or you’re just flat out ignorant

You sound 12.

>>20041703
I went from home owner $3500 mortgage to $800 rent share housing with my cousin. I don’t have to pay any local council fees, don’t have to pay any maintenance costs, I don’t have any responsibility for the house besides keeping it clean.

The amount of investing I’ve been able to do now is is fucking good. I actually have thousands every month to invest instead of it all going into a house.

The flexibility of renting is huge. Now with coronavirus it’s even easier to find new places to move to and rent because landlords are desperate to get tenants in.

Now I have another cousin who might move in to this house we rent now, which will lower my rent split from $800 to $530.

>>20041835
Op here. I’m in Australia. Not the US.

IP changed I’m still OP.

>>20041656

You are flushing your money down the toilet every month if you rent.

I understand you city faggots don't get it.

But I'm over half way into my 15 year mortgage. That's close to $100k I have in Home Equity now. Maintenance costs? I had a wire in my A/C unit burn out one time... that was $150 fix. Other than that my maintenance costs are basically the gas I use to cut the grass?

You can't beat the feeling of knowing you OWN what you live in. You can do whatever the fuck you want. Want to turn your downstairs into a fucking theater with a 15 foot screen and audiophile level sound system? Want to put rubber flooring down in one of your rooms and turn it into a weight lifting/boxing room? Want to turn your music/movies up real fucking loud and have the bass rumble your chest? Want to grow some weed in your basement in a tent? You can do all of the above, I did. And it's been awesome as fuck. Plus I have $100k in equity.

How can you even argue against this? Again, if your a city faggot cuck... well get the fuck out of niggerville.

>>20041890
A townhouse here costs $800,000 that’s on 1 block connected with 4-5 other townhouses one the one block.

Why would you sign up for a near million dollar mortgage for something that has a shared driven way with 4-5 other townhouses?

If you want to buy a single house own it’s own block here you’re looking at least $1.2 million.

>>20041938
Also, the $1.2m house on its own block will be an old dump. It won’t be a new house. The reason the town houses go for $800k+ is because they’re all newly built and THEY DO SELL, yes people pay near a million dollars even just to share 1 block with 4-5 other townhouses,

OP here now again

im a huge faggot wagie in poverty and i suck dicks

daddy your turn again

>>20041938
>>20041955

What I said doesn't apply to citycucks. You're fucked. Of course you have to throw your money away to rent and you're trying to rationalize it.

I'm 50k studebt debt at 27 ill never own a house

>>20041890
>I'm over half way into my 15 year mortgage
>You can't beat the feeling of knowing you OWN what you live in.
This does not compute. The bank owns your home until you pay it off, dude.

>>20041998
You'll be fine. Just buy as soon as you can since prices keep going up yearly.

>>20041979
>city cucks

So 95% of 1st world countries? You heard of urbanisation you dumb nigger?

Also I already have $2000 month in passive income from my investments, which is going to keep growing as I continue to invest. These investments are what I made after I sold my house and got out of the mortgage slave shackles

>>20042016

Anybody that steps on MY property can catch some 00 buckshot to the face bitch. My castle.

Yeah, I could pay off Sheckelstein so nerds like you can't say "but the bank actually owns it", but I've got a %3.25 interest loan that I'm using to get rich off Link.

Get fucked Jewface.

>>20041955
Its the same here.
$900k for a shack.
Even at 3% interest for 15 years thats not only over $6k per month, but thats $220,000 paid in interest. Literally more than $200k flushed down the jewish toilet.

$1,200 per month paid in interest. Why would you sign up for that?

>>20041890

The qualitative argument I totally agree, and you forgot to mention mortgage tax benefits because you were too busy calling strangers cucks.

This is how I do calculations.

Say your total home value is 200k. 20% of that as downpayment is 40k.

If you invest 40k into something conservative like a tech ETF ( I'm thinking Vanguard's VGT, but more aggressive ones include ARKW or stocks like TSLA, AMZN, GOOG), Its super easy to get 20% returns YOY. In 15 years, 40k compounds into 616k.

Subtract 15 years of rent at 1.3k,

12*15*1.3 = 234k
616 - 234 = 382k

So the returns are pretty good. In the end you hold liquid assets that may not be as tax efficient, great for moving.

>>20042082

Cityfaggot calling a homeowner a dumb nigger. I'm 15 minutes from 2 Major US cities. This nigger thinks all of Australia is a city. I hope a nigger Kangaroo guts you cunt.

>>20042121
15minutes by what? A jet?

>>20042114
and depending on specifics, an investment in tech is way less risk if the economy takes a shitter.

IT sector returned ~36% in 1 year returns, including the huge dip in March.

>>20042137

Keep paying that rent. You're a genius. I'm selling my house ASAP and finding some shithole apartment surrounded by niggers in the city to rent for double what my mortgage was.

>>20042137
He probably lives in bum fuck Oregon near Portland and Seattle bragging about living in the sticks.

>>20042183
My mortgage was $3500/month

My rent for this house I share with my cousin is $1600/month and we split it 50/50, and we have another cousin moving in so it’ll be 33/33/33 soon. The investments I made after I sold my house bring me in $2000/month in passive income, this will continue increasing as I invest more.

Cope harder because I saw the light, mortgage cuck.

>>20042114

Look up FHA loan cuck. 3.5% down.

Super easy to get 20% returns. kek.

>>20042198

You city-faggots are despicable. Cope.

Can you turn your anime down faggot? Jerome is about to bust your door down.

>>20042253
Hey mortgage cuck

1. There are no African American niggers in Australian cities

2. Aboriginals live in the sticks with your kind of hill billy ass

>>20041835
Lower interest rates -> base cost rises to compensate.

Base cost rising -> harder to meet down payment requirements

Down payment requirements rising -> forced to pay for PMI

Buying one now seems like a huge waste of money.

>>20042228
Damn imagine living with your cousins and their cousins lol No thanks

>>20041656
Cause it’s a fucking meme and these guys fall for everything. They need easy explanations and rules to sort their fucked up world and make them feel better about themselves.

>>20042485
Better than coming to an empty house everyday. We split bills and food aswell.

Shit is a huge money saver, money saving they grows my investments.

You’re going to spend your entire life cash poor and asset rich, an asset you can’t do anything with

>>20042485
Brb trading and instantly getting money

Brb house cuck and have to wait 6 months to liquidate house and pay lawyers

>>20042522
Pol is stuck in the trad mindset

They think traditional homeownership still exists

They’re the banks ideal targets, the people who prefer to live in a fantasy world that doesn’t exist anymore, the big lenders make so much money off these fools

>>20041938
>A townhouse here costs $800,000 that’s on 1 block connected with 4-5 other townhouses one the one block.
where the fuck are you cunt?

>>20042586
What if you have the money in cash

>>20042608
Probably Melbourne or Sydney considering that’s where 99% of people in Aus live.>>20042608

>>20042629
Yes if you have the cash, it’s fine. But only if you plan on living in the same spot for the rest of your life. If not there’s just no point.