/biz/ - Business & Finance

I’m sorry, 400 thousand for a house?

>>26126098
That's cheap in Canada, in the city this house (detached 2 bedroom no garage) would be 600-700

>>26125268
In burger land you have to pay capital gains tax if you sell a house within a year of buying it, don’t know about your Chinese colony sir

>>26125268
Honestly just keep it. Canadian housing market is wonky as hell and with housing shortages — it’s likely a safer investment than even crypto.

Security is worth a lot of money. It’s really what “making it” means for a lot of people who aren’t trying to fuck ladyboys in Thailand.

>>26126282
Eventually I'll be having to buy a house later on down the line, so sure I may make 30 grand, but what's that in the long run if prices keep steadily going up and money is cheaper?

Was thinking of renting, but fuck that because right now you have no right to kick anyone out during covid if they don't pay (and finding a good renter is insane)

>>26125268
Umm did you really buy a house without taking out a loan? Do you just hate money, or what?

that was stupid

should have bought 500k worth of boomer ETF with 4% yield. That's enough to cover a mortgage so you have your stack growing and getting a house for free, basically letting your money work for the house

There's no bubble, $800k eoy. Just hold til it's $2 million loonies

>>26126388
Huh? what the hell is that suppose to mean?

Even though the rates are cheap, I'd be paying more if I borrowed .. what point are you trying to make? I don't have any other real investments with my money atm

>>26126437
>Huh? what the hell is that suppose to mean?
Buy with a cheap mortgage, put your extra money in an account with arkw arkk arkg etfs.

>>26126488
>put your extra money in an account with arkw arkk arkg etfs.

isn't it too late for that?

>>26126437
>Here's your choice: Either take out a loan for basically free like 4% APR and keep your money in smart investments which currently are returning around 100-10,000% APY, OR you can take all of your money and not have to pay 4% on a loan every year.
>Yes, I'll do the second thing
This is literally you. Your opportunity cost is immense, especially since you're on this board and are constantly exposed to things that will x10 your money by EOY.

Here's a lifelong tip for you: Rich people take out loans, and they put their money to work for them. Poor people pay loans off early. Even multi-billionaires will take out a loan on a house. There's no fucking reason ever to pay off a loan early unless it's an insane APR which as long as you're not a degenerate, it never will be.

>>26126621
>here’s your choice: put half a million into extremely volatile internet coins that could collapse at any moment, or into a house that is basically guaranteed to appreciate, costs you half as much to live in as renting, can earn you your own rental income if you choose, and you won’t have to pay capital gains tax on it when you sell after you’ve owned it for a year
Ftfy

>>26126192
>In burger land you have to pay capital gains tax if you sell a house within a year of buying it
What the fuck is wrong with your country? You need to send Israel even more money?

>>26127509
It’s the same thing in Canada

>>26127665
Thank God I left.

>>26125268
You should be moving to a tax haven not further establishing yourself in the poz that is the Great White North.

>>26125268
>$445,000 for a house
Why are prices so fucked in the north?

Lmao you could buy 50 such houses in the Ukraine for 400
What is wrong with you westoids? Why don't you emigrate somewhere where your money has greater buying power?

>>26128247
I like to eat more than radishes and potatoes during the winter

>>26125268

How about the taxes. That will eat into your profit. Hold 2 years minimum

>>26128562
You can buy everything normally, and far cheaper than in your westoid shitholemail
You could live like a king, but you choose to be middle class

>>26128562
You can buy everything normally, and far cheaper than in your westoid shithole.
You could live like a king, but you choose to be middle class.

>>26127044
>“It’s a bubble” cope
See you in 3 years with another 10x

>>26125268
Lol good luck with those 6% seller fees plus closing costs. Theres no profit to be made there short term.

>>26125268
>$10,000-40,000 profit?
Did you factor in the time selling/looking for a new home in an already shitty market? Commission for the real estate company? Taxes? Moving expenses? 10-40k is a waste.

>>26125268
>>26126098
>>26126162
Yeah this is definitely the blowoff top of the housing bubble

>>26125268
Stone just keeps climbing over time if you're not dumb and bought in a good location.
Live in it for as long as you need and sell it.
3-5 years before selling isn't too bad.

> you will own nothing and will be happy