/biz/ - Business & Finance

>>28122311
>Are people just okay with putting >30% of their income towards housing?
yep. why do you think the majority of people have credit card debt, student loans, etc. etc. people love being debt slaves

You're definitely reasoning about it correctly. I'm 4 years older and half the people I knew growing up are broke. More specifically, they're okay with being BROKE (reason be damned)

Where's the most amount of land I can buy for the least amount of money?

>>28122311
nice larp faggot

>>28122311
You should be able to afford any home under 500,000 if you are making low six figures. Save a 20 percent down payment and stop being a whiney bitch

>>28122634
Alaska.

>>28122561
>More specifically, they're okay with being BROKE (reason be damned
What also amazes me is how they're still broke WITH A PARTNER in their life.

Like wtf?

Y'all have 2 people on your team, with better economies of scale on things like cooking, and are getting 500x worse results than me? WTF?

>>28122738
I don't think he's whining. He's wondering how people making way less than him are doing it faster

They are not. I havent paid since july and my neighbors are the same.

Here is a hint: The moratoriums are permanent because the crisis wpuld be astronomically bad.

>>28122808
Some new couples get help from parents for the down payment. Others get inheritance. Some spend 50% of their income on housing. Stop comparing yourself to other people because it will drive you mad. This jewish society makes it hard sometimes. We tend to compete over stupid materialistic shit with zero meaning.

>>28122311
Why not? Payment stays about the same, income goes up overtime making that payment easier to make. The home goes up over time too. Fortune favors the bold, not the people who are worried about the worst case scenario.

>>28122311
> Are people just okay with putting >30% of their income towards housing?
yeah that's basically right. it's not like there's much of a choice anon. your rent isn't cheap either...is it? we've got interest rates as low as they're ever going to be in your lifetime anon. shit or get of the pot

>>28122957
Don't worry about me. It's OP you should be consoling.

I read this: https://www.amazon.com/Sanity-Future-Wealth-Leftists-Insanity-ebook/dp/B08K744FJX/ref=sr_1_2?crid=1YWVQNX06J3OQ&dchild=1&keywords=sanity+is+the+future+of+wealth&qid=1612815560&sprefix=sanity+is+the+%2Caps%2C187&sr=8-2 and it's how I naturally live

The market is insane right now. Post 2007 prices and many houses will be listed for a day or two before receiving an offer.

>>28122756
Incel detected. Women are fucking expensive.

housing's pretty shit atm. I'm tryna shop for homes in the super cuckland of Northern VA right now
>nothing but 5K+ sq ft mcmansions for $1.2mil starting being built
>any reasonably priced single-family house is contingent faster than GPUs are getting chinked out
>home owners getting cold calls, people knocking on doors, willing to buy their houses sight-unseen
>people making $50K+ earnest offers
>99% of sales are to chinks and indians
>everyone somehow has money to buy houses during this pandemic in which everyone is supposed to be unemployed and poor
>number of houses for sale nationwide is at all-time low
>MASSIVE tsunami of foreclosures looming over the country and the govt can't keep them on pause forever
idk dawg, there's a huge fucking bubble being blown up right now, and the pop isn't gonna be pretty

>>28122694
>Larp

Okay.

>>28123032
fyi you can shorten any amazon link by just including the /dp/ (or /global/gp/) and the B* number. like so: https://www.amazon.com/dp/B08K744FJX

t. /g/entleman

>>28122738
I know I can. I'm wondering how other people are doing it.

$1,200 a month into a house or $1,200 into a 1bd apartment that will go up 5% every year. Maintenance costs are a meme if you buy a house built in the last 20 years.

>>28122311
It's bad in my area, I could afford a clapped together house an hour away from work but I'm not about that commuter lifestyle. Judging by my county's median income and the average cost of a home, I think people are going balls to the wall and spending like 60% of their income on housing. Feel like a cuck for renting at my age but I just can't do that man.

>>28122311
https://rumble.com/vcrrlv-welcome-to-the-rice-fields-.html

>34
>bought my house at 27
>109k
>mortgage is ~925
>my rent was about that much

>>28123010
Moved back in with my Dad to save up a down payment, but I just don't see how these prices can be maintained.

>>28123122
nothing is being sold at listing price where I live. it hits the market and there first day there are multiple offers in a bidding war. everything is selling $10k-$20k over listing price....because there is no affordable inventory. these are half a million dollar houses I'm talking about which are now basically considered starter homes in nice neighborhoods.

>>28123380
>109k
That seems like a shithole anon. Barely above "trailer park" tier.

>>28123177
these aren't six figures and your screenshot is from an online calculator where you can fill in the fields kek

>>28123219
nice trick. thanks

>>28123614
That's my base compensation retard. It's from my HR website. With my bonus and 401k I'm at like 115k.

>>28122957
>Some new couples get help from parents for the down payment. Others get inheritance. Some spend 50% of their income on housing.
This. Some things you'll often times not hear, not even from your friends.

honestly its those young couple is the cities that baffle me, guys are like 26-27 married, tech job, wife is in "marketing", he drives a german crossover and they're paying off their 60-80m2 apartment for the next 15, 20 or 30 years
by this point Im not sure if everyone else is rushing life or Im trailing behind, but Id be legitimately afraid of paying off anything for 20-30 years

>>28123308
You don't need a down payment that's how

>>28122311
It's quite common around where I am for a married couple to put more than 1 of their wages into the mortgage.
Total madness and completely unsustainable if there is even the slightest hiccup in employment but they keep doing it and risking more and more as the market grows.

>>28123148
>Incel detected. Women are fucking expensive.
Good women (I'd estimate at 1-5% of the female population) are not.

>>28123931
>but Id be legitimately afraid of paying off anything for 20-30 years
have fun for the next 20-30 years constantly paying for other shit than "your own" home.

>>28123431
>>28123324
>>28123010
>>28123517
the upcoming housing market collapse is going to be fucking cataclysmic -- it's hard to really imagine the scale. Like yeah, interest rates super low, there's never a bad time to buy property, yadda yadda, but holy fuck these prices -- and even more indicative, the mania around housing -- are straight-up peak 07/08 tier.
Not good signs that prices got jacked up like 20%+ in some places during a fucking pandemic, and that people are willing to buy houses for like $50K+ markup over the phone without even wanting to see them.

>>28123219
>Incel detected. Women are fucking expensive.
sweet. thanks

>>28123431
Where are you looking to live Anon? You can get a decent home or townhouse for $300k in some states

>>28124186
>the upcoming housing market collapse is going to be fucking cataclysmic
stopped reading right there

if you haven't noticed, no-homers have been in the process of being priced out forever for almost a decade now.

>>28123148
>Women are fucking expensive.
Should i buy the dip?

>>28122311
Because you don't live forever and time=money. While you sit in your moms basement with bunch of meme stocks waiting out your best years for when you can afford housing some normie is living a comfortable life now.

>>28124218
>states
>where the jobs are

>>28124218
Honestly anywhere where a mobile home doesn't go for $250,000. I work remotely so I just need a solid internet connection. I'm in Boise, Idaho right now, but I'm not buying in this market.

I am 33 also making 6 figures (doctor) also looking for a house in rural midwest. Prices are through the roof but strangely even in this town where median household income is around 50k the houses get snapped up almost immediately. And nigger-tier shit-dumpsters are selling for ridiculous prices eg today heard of a 2k sq footer in country on less than 2 acres going for around 290k.

>Not house hacking a duplex

40 year olds buying homes or money from daddy and mommy for down-payment.

I was thinking covid would suppress prices but it hasnt. The opposite im fact. Hence why we are still stuck in a rental townhouse.

>>28122311

>>28123308
we are not. I make $12K above the median salary in my city, covid has fucked my wifes paycheck up, and now we are having a kid so I am in the process of kissing my dreams of buying a home GOODBYE. Only thing that may save me is if I get lucky in crypto lol

>>28124283
and if (You) haven't noticed, we're seeing absolutely insane manic home buying by people who shouldn't be doing it, all the while amidst a nationwide avalanche of foreclosures, due to the hoaxvirus cucking so many people, that are simply on pause thanks to government intervention.
The low interest rates and typical bank greed are allowing tons of people to take out exorbitant mortgages that they won't be able to pay off. And again, giant wave of foreclosures that WILL happen in the next 2-4 years unless the govt just collapses our economy with inflation propping this shit up.

>>28122311
> Are people just okay with putting >30% of their income towards housing?

One day you're going to have to move out of the basement and face rent, bud.

>>28122311
Dual income households, generational wealth, or living in areas with cheap housing

>>28122694
call me a boomer but I made mid 6 figures in the dot com bubble fresh out of undergrad

>>28124166
nog detected

>>28124607
>I was thinking covid would suppress prices but it hasnt.
Just goes to show how little humans actually matter in the grand scheme of finance and economics.

>>28124607
>I was thinking covid would suppress prices but it hasnt. The opposite im fact. Hence why we are still stuck in a rental townhouse.
It's because asset holders, like me and many others here, have been killing it with stocks or crypto.

I could probably qualify for like 10 financed houses right now or buy a couple in cash. Combine this with Californians cashing out their west coast life en masse and we arrive at this housing market

>>28122634
There are exclusion zones around certain military bases and NASA test facilities that forbid building anything within a certain radius, with a few exceptions. That land tends to be pretty cheap, if all you want to do is hunt and camp on it. Maybe it'll get lifted as well if the base gets shut down in 20 years.

>>28122311
I don't know anyone in the age group buying houses. They all feel priced out.
How are prices still rising when the younger generations can't afford them?

>>28123148
This. Women are money pits. You have to constantly do shit with them, expensive dinners, travel, entertain, new cars, wedding rings, house, furniture etc. Add a couple of kids to the mix and you're broke if you ain't pulling in 200k a year

>>28124834
>nog detected
aight lol

>>28122634
some parts of wyoming are like 50 an acre, but most of the state is unfarmable wasteland, better.

>>28124186
I doubt it very much. people have been saying shit like this for as long as I can remember...but there's no shortage of people....just a shortage of affordable housing.
even if you're wildest dreams come true and you live to see a market crash in your area. maybe you'd get lucky enough to snag up a property for 30% off it's high....but it's probably gonna rebound quicker than you can get your shit together anyway. I really don't think this is gonna get any cheaper for you guys. if anything...the feds infinite money printer is just gonna drive up prices further as the value of the dollar falls.

>>28124974
>You have to constantly do shit with them, expensive dinners, travel, entertain, new cars, wedding rings, house, furniture etc
I guess I found a pretty sane chick that is repulsed by all of that. She's actually independent minded, made 70k as a new grad engineer (not a woman in tech product manager) and slept on a mattress on the floor

She was foreign raised though (Malaysian)

>>28122311
>Are people just okay with putting >30% of their income towards housing?
Yes, also they get help from their parents.

>>28124974
I agree that simps will provide all of that shit though

>>28124186
>the upcoming housing market collapse is going to be fucking cataclysmic
not going to happen. you believe that """affordable""" housing is a necessity. it's not. we're moving toward the european model of home ownership, where 80% of the population rentcucks until they die and only the top 20% of income earners can afford a home. it's a large and miserable redpill to swallow, but it's the truth.

>>28122311
>How are people paying for homes right now?
Bought after crash in 2011, home is worth 4x what I paid for it today. Most likely will sell this year because of property taxes.
>>28124607
Many are holding because of kungflu. Once eviction ban expired though it is going to get rough out there.

>>28124716
>And again, giant wave of foreclosures that WILL happen in the next 2-4 years unless the govt just collapses our economy with inflation propping this shit up.
>any 2-4 years now
Been reading about this since before 2012.
You are one of the people who are correct in theory and most of the time completely off in outcome.
The things you think that matter do not matter any more. Not for other people. Only for you as they inhibit you from taking action for yourself.

buy as much house as you can possibly afford. In 10 years it will be worth 50 percent more.

The Democrats are working on a child tax credit and a new home buyer credit so the population is going to explode over the next generation and the demand for houses.

>>28124824
back when six figures meant something, no less

>>28124933
the mass exodus from major cities has definitely pumped the market everywhere else. at least where I am. people were trying to get the fuck out of NYC after covid and were buying anything they could find in safe white neighborhoods anywhere in new england.

>>28125084
And that is the intersection of sucking dick that me and the missus are at currently :/ It's either
>pay $1mil on what should cost $800K (which should cost $600K in non-globalhomo areas)
OR
>don't pay the insane markup and risk having to buy the same shit for $1.5mil in 3 years after being wrong

>>28122311
>Are people just okay with putting >30% of their income towards housing?
Yeah
30% isn't even that much, and if you start to think about it in marginal terms it becomes even more attractive. Once you make basically middle class money housing has one of the best quality of life/dollar spent returns (ymmv depending on area ofc) going into middle age. If you're not buying hundreds of dollars of waifu pillows or shots at the club, what else are you gonna spend that money on? If you're a boomer you might as well buy a lawn.

>>28124186
EXACTLY right. Look at what happened December 2018. The market almost completely collapsed because interest rates ticked up less than 1 percent. That is just ONE percent rise and the whole fucking system and markets damn near imploded.

We are going to have a Crash of Crashes in housing and stocks when interest rates start going up. Im guessing the crash happens mid 2022. The next few years are going to be complete fucking hell.

>>28123153
Northern VA might as well be Los Angeles, get the hell out of there.

>>28123032
You need to work on your spelling and grammar my dude. But nice attempt at shilling your ebook, it's about as /biz/ as it gets

>>28125084
based
how old are you if i might ask?

>>28124960
Foreign buyers (re: chinks and pajeets), boomers, big city liberals fleeing their self-imposed prison-states, for starters

>>28124166

the reason homes are hard to find is Boomers are retiring and staying in their homes, they've moved from house to house and now have a decent place that will suit them for the next 30 years.

What we have to hope for is a total stock market collapse so they are forced to sell their homes.

>>28122311
A mortgage is cheaper than renting where I live. May as well take on debt to own something than piss money into the air. If you can live with your parents, I guess that is the most frugal option -- but if you're a millenial you might get caught in a caretaker situation when they eventually get dementia.

>>28125103
>Malaysian

Makes sense.

>>28122311
It was a mystery to me until I realized I was a single man. You need a wife. And she also needs to be making money, that's how people afford houses, that's why we as single men feel so priced out of the market.

There's no such thing as a house wife anymore, especially not in wealthier areas. You literally need two incomes to afford a home

>>28124186
There will never be a collapse because (((they))) will flood the country with immigrants and lend them money to buy houses.

>>28125174
This is what they call the "Great Reset" where the peasants own nothing and you like it

>>28125485
Always some years in the future it is, right?
Never right now.

protip: no one except a tiny tiny tiny amount of people have anticipated 2008.

but ever since then everybody agrees that the next crash is a sure thing.

we haven't seen anything yet in terms of pricing and inflation

>>28125623
I suppose your error is that you believe I am waiting around for white girls to become sane again lmao

>>28125491
Fuck northern virginia. Fucking up the entire state. Driving up prices everywhere and cucking gun laws and other freedoms. FUCK that place

Maybe your expectations for a house are much higher.

>>28125737
50% of women my age are waitresses. I'm too ugly for the other 50%.

>>28122741
Wrong, Alaska is expensive as fuck.

>>28122311
It's impossible. Their plan was to kill us all along, you dumb ape

>>28125485
The crash happened, and house prices are still climbing. I know people like you that think once the next crash comes they'll buy a cheap home. It's not happening. I bought my place 10 years ago for just under 300k. My neighbour just sold his house for 750k, and in the time I've lived here they've built 2 shopping malls, a train station and I have a school that's a 5 min walk from me so they aren't going to go down. Granted these are Melbourne house prices, but it seems similar for you guys.

>>28122311
>waiting to close on a 2300sq ft 5bdr 3 bath house for $240k CAD
think I did pretty good. Its in a kinda shit area, but Im looking at it as going long on gentrification. I also intend to rent 2 of the rooms out to university students (preferably asians)

>>28125828
They raise rates to control inflation, thats why I say 2022 it crashes because the market will price in a 2023 interest rate hike. And biden tax increases on capital gains, income, fuel etc

>>28125505
35. bought my first house when I was 25 with no money in my bank account thanks to a USDA rural development home loan. sold it last year and moved to the suburbs in a nice beach town. closing on my house here next month if all goes well.

>>28123760
Wtf do you do?

if you make six figures and cant afford a house, you are either retarded or live in a cuck state but probably both.

>>28125952
>Wrong, Alaska is expensive as fuck.
Is it expensive if you're a minimalist? I know shit that has to be imported is expensive e.g. Milk and cookies, but what if you just don't buy that stuff?

Are necessities: food, water, shelter, insurance also expensive?

>>28126129
Or he's just early career e.g. 24

>>28126105
I'm a software dev

>>28126041
a shit area in Canada is probably an upper middle class demographic in Burgerland

>>28124516
Even here on /biz/ the general IQ is too low to manage that.

>>28126037
When they raise interest rates (currently from zero) The price of housing will fall. But people will still be priced out because of higher rates. Your home won't be worth as much but at least you will be locked into a low rate to hedge against inflation. Its a lose lose scenario either way. Unless you pay cash for the home

>>28122311
>Are people just okay with putting >30% of their income towards housing?
That's normal in my country.

>>28122311
I make $60k a year in minnesota with no debt of any kind aside from the mortgage. My girlfriend lives with me and gives me $600 a month to help pay for the mortgage and she buys the groceries. My total cost for the mortgage and utilities is probably $1700-$1800 a month. I could afford it alone if it came down to it, especially since I'm getting a $4-5 raise in may

>>28126288
Also doesn't help that America imports 1.5 million new citizen immigrants every year. That effects housing prices and rent prices as well

>>28124516

imagine wanting to live next to someone who would rent a duplex

>>28126288
>Unless you pay cash for the home

Which I've been repeatedly told not to do by fellow /biz/raeli's

>>28125804
The middle class as Americans understand it is one of the greatest historical anomalies in the history of human civilization. We are about to witness reversion to the mean.

>>28122311
Im on east coast but bought one for 200k at 20 years old more than a decade ago. None of my friends think they will ever buy a home and will just inherit their parents.

>>28125737
lmao this too. i finally convinced my retard gf to study nursing instead of some meme liberal arts bullshit. if you live in the suburbs of a large city, dual professional income is the only way to make enough to comfortably buy a home that's not surrounded by niggers and puerto ricans.

>>28124647
holy fucked i laughed so hard at this. thank you and saved.

>>28122634
a desert in utah

plan on 3 houses in your lifetime
>1st house married 2 incomes city adjacent.
>2nd house kids suburbs good school district
3rd house kids gone downsize. Pay cash and live till death.

>>28126288
House prices will fall very slightly until the people with cash come in. I work with a guy who sold 2 houses and currently has 2 mil sitting for when the crash happens to buy up. Unless you already have liquid, you won't benefit from a crash. And my house price will drop, but only for a short while, until the chinks come in and buy up.

>>28123153
good, fuck everything
fuck houses fuck boomers fuck mcmansions and fuck suburbs
if housing bubble pops will my rent go down even lower? coof already gave me a nice discount. i know so many fucking software devs who bought houses and i want to see them lose 50% of value. inflated ass prices. fuck the planet

housemaxxing:

1. Co-op 1BR apartment in the city
2. Cabin or old farm house on some acreage 1-2 hours outside of the city.

>>28125084
can you help me understand how the fed increases housing prices? does it have to do with how CPI is tracked?

>>28127035
they set their interest rates they loan to banks at 0.25 percent, so the banks turn around and charge you 2.25 percent or whatever. If the rate was 10 percent or higher like it was in the 70s and 80s much less people would be able afford a loan, so there's less demand for homes.
Same thing is happening with stocks at the moment.

imagine buying into the suburbs meme

https://www.redfin.com/WA/Eastsound/89-Cormorant-Bay-Rd-98245/home/16751549

>>28124647
Chrischan essentially lives the DEBTMAXXED pill lifestyle

>>28124647
This is fucking hilarious but it's sort of true. Credit score statute of limitations on debts is 6 years as long as you don't talk to them. If I went back to 18 years old I'd have fucking drained insane amounts of money with no intentions of paying it back. My "best years" wouldn't have been defined by poverty and by 24 my credit score would have been reset without a cent paid back. I didn't even start seriously building credit til like 23-24 out of college. It sounds retarded but it kind of makes sense.

>>28123839
Yep, wife's parents gave us half the down payment as a wedding present because anything we could afford outright was absolute garbage.

So basically just accept you'll be house-poor no matter what and buy while the rates are low, huh? Feels bad man.
I wish I wasn't stuck in fucking Northernfuckingniggerfuck Virginia where we're going to have to take out literally a $1,000,000+ loan just to afford a """""""""""""""""""starter house"""""""""""""""""". I guess the only consolation is in less than 10 years it'll be worth $1.5mil with as fucked as this globalhomo pile of shit area is

>>28124186
the money printers have been going since 01 and going HARD since 08
western economies awash in debt
yeah i think you're probably right anon

>>28127701
based parents
just curious, have you told this fact to your friends or acquaintances when the conversation came up?
>>28126079
nice

Realistically, when are the foreclosure and eviction forbearances going to end?

Money is a claim on energy. Debt/credit is a claim on future money ie future energy. Where is this future energy going to cone from? The options are default, or inflation. Most wealthy countries are doing the latter.

>>28128018
My honest prediction: they'll punt it until republicans get in office again -- if that ever happens

>>28128018
September or so.

>>28122311
You must live in a shitty place to not be able to afford a home on 6 figures. I'm in the high 5's and just recently built a 2500 square foot 4 bedroom, 3 bath house that I have no trouble paying the mortgage on.

>>28127899
in this case...imagine not even having your own house when the debt based monetary system shits the bed.

Parents, and also thanks to the my ancestors who were not lazy like me. I will piss it all away, everything they worked for, and the long lineage will die with me.

>>28126037
>the crash happened

we've been in a bubble since 08 bro. This is fakeandghey economy world.

>>28122311
>Making 6 figures
>Would barely be able to comfortably afford a mortgage
In what fucking state does mortgage cost more than renting?
Low quality larp.

t. 72k salarylet with a 4 bedroom house.

>>28128182
>Use cheating system to let in an R candidate in 2024 and leave him holding the bag
lmao they would.

Lol I came out of my closing with a 200 dollar check. It’s not hard to buy a home I pay 850 a month mortgage

>>28127731
I've visited a friend who lives there. That place is square as fuck and everyone is a government worker slave drone. Didn't like what I saw there at all + too many people everywhere

>>28122311
Me.

Wish I had bought back in 2015 when I had an opportunity, markets only gone crazy since then. My brothers house is worth 200k more from when he purchased. They will try to discourage you from owning a house but at the end of the day you will own something and the renters will be left with fuck all.

>>28127272
thanks, makes sense. how is it with stocks? do institutions use a credit facility with a low interest rate to buy stocks?

All these people bragging about how much their houses have increased in value since they bought them, do you not realise that all of the other houses have increased in value too? And that if you sell your house you will have to buy another one?
Unless you plan on selling and moving back in with your parents your net gain will be zero. Rising house prices only benefit you as an owner if you're buying a second property as an investment to rent or renovate

>>28122311
>*boom boom Boom Boom BOOM BOOM BOOM BOOM*
Can you believe these MILLENNIALS and their WHINING about not being able to afford a home? Why don't they just pick themselves up by the bootstraps like I did and get a job at the ol' steel mill right out of high school? It PAID THE BILLS and now I have 10 houses! Fucking KIDS THESE DAYS, are so scared of a little hard work and gumption, I tell you what!
>*BOOM BOOM BOOM BOOM Boom Boom boom boom*

>>28128549
bubble money do be bubbling though. just like crypto, it's not your money til you sell.

>>28128258
You're like the 5th person to ignore that I can afford it. I don't believe other people can.

>>28128402
Rent is free when you live with your parents. I guess what I should have asked is how long this clown market will continue. I can live with my dad as long as I want, but I'd prefer to be on my own.

>>28128631
This, back in my day people at my age just walk in the bank and give the manager and firm handshake and stare him right in the eyes.

>>28128549
Depends on market, where you are, where you're moving to ect. Also it's more bragging that they entered the market at a good time.

>>28128538
That is definitely a thing, and in any speculative bubble you get people taking out loans... think about it, if the average return is 10 percent or more and you can get a loan for 2 percent, people are going to do that.

>>28122634
central ohio / central WI is remarkably cheap for US land, central ohio gets p cheap for being ~1 hour from a major city

>40% down
>2.4k taxes every month
>taxes more than my payment
>45% of income each month
>hard but better than burning rent
>wife and kid happy
>so im happy

>>28128549
that's why you have to take out as much loan as possible so you profit the most on your house.

>>28127974
Oh no, but not because of what you'd think, we ditched our friends years ago when we realized we had been doing nothing but partying in the same town for 6 years, and those friends are all still doing the same shit, living the same drama, going to the same parties to this day. We don't have adult friends, it would be nice but we've kind of given up on it.

>>28128477
It's bad, dude.
It's a known worst-in-the-nation area for traffic and housing area. Insanely crowded; simple trips to the grocery store are an ordeal on par with going to a walmart supercenter at on black friday. No nigs, but most days it feels like 100% pakis, arabs, and chinks everywhere.
Any new development is $1mil starting, and your alternative is a 1960's dilapidated house selling for $1.5mil anyway. You literally cannot get a reasonable house (i.e. built in the past 10-15 years, selling high-700's; not a 6K sq ft shit quality mcmansion) because it will be sold within 1 or 2 days of listing AND the H1B indians who bought it will have come in with an offer $50-70K more than the ask-price.

>>28124186
As much as I would benefit from a bust, I just don't think it's going to be feasible. They'll start giving out huge grants for down payments to keep the prices sky high. People in 'straya have been dealing with this for decades, where is their market correction? The gubmint will just keep patching up the problem and let it get bigger and bigger until we're all living in RVs at the Walmart parking lot and shitting in old grocery bags.

>>28129322
>No nigs
u wot

>>28122311
They're not
>but I see people my peers buying homes left and right.
Lol

>>28122311
They're getting FHA LOANS for 3% down and then paying an extra $300 a month for the mortgage insurance. That's why it's nickname is "fuck his ass".

>>28129322
My house requires some fixing, but I plan to get around that with As-is and sell at $20k lower than highest price I should ask. I know foreign groups will swoop in like hawks and grab it fast.

>>28122634
Valuable/livable land is more important than sheer size, you're not going to go out there and live like a mountain man unless you have the experience/social system.

>>28122311
Midwesterner here. Nice comfy small down, decent starter homes not in the ghetto going for around 80-90k. You can get a really really nice house under 300k here.

>>28129805
*town not down, am retarded.

>>28129656
Don't even bother lowering the price. My parents just sold our house we built in 2004 to some city slickers from NY for 80k over ask as-is and boy is the place AS-IS. Offer put in within 8 hours of being on the market, had 100k over the 80k escalation clause. Retard boomer parents just fucking took it without even finishing the scheduled showings for the week.

>>28129477
in like Loudon and Fairfax County? Absolutely. All the nigs are in their containment zoo across the Potomac or living in shit cities like Woodbridge. They can't afford the nice areas were MINIMUM for a house is like $750K.

>>28129656
Why even bother with repairs? Serious question. With the current mania and all the foreigners buying sight-unseen (assuming you're up here) I wouldn't even fucking bother, cause they're going to offer above-ask anyway

>>28130120
That is the thing, wont repair. The lower price is more to start a little bit of a bid war. Get them hooked, go for whoever is ready to spend.

>>28129583
I'm glad we're getting a VA loan -- and even with that and the quite comfortable combined incomes, no debt, no kids, it feels like it's gonna be hard to afford a place.
I cannot even envision how millennials and younger can otherwise afford mortgages with any non-0% down requirement AND ((((((((((PMI)))))))))) tacked on to their PITI.

>>28122311
They're putting 50% of their income towards rent so they probably look at 30% as a big step forward. Keep in mind that it has been beaten into most people's heads that 'owning a house' is the ultimate goal and earns you some kind of special status in society as a home owner. Most of these people aren't investing outside of their home and if they are it probably isn't much money or much return.
My personal theory is that people who's homes are their greatest asset just don't know what else to do with their money although there obviously are other factors to consider as well.

>>28122311
if you make 6 figures and can't afford a home, you're a fucking retard.

>>28124186
bearish on dollars

>>28122311
Mortgages are cheaper than rent in the midwest outside of Minni and Chicago. Places like Omaha, KC, Milwaukee, Indi are cheap as shit for houses. Plus, you don't have to deal with literal niggers and 50+ million people driving around and you get comfy snow in the winter and fun thunderstorms in the summer

>>28130571
Probably the biggest financial cucking tactic used on the goyim is that owning a house is an "investment" lmfao

>>28130571
99% of people my age and younger I talk to think that investing is a scam or casino.

>>28130739
Yeah, OP is an idiot. Stop being a rentcuck and just get a $100k house.

>>28130739
it's not about affording a home, it's about affording something better than a 1 bedroom shack

>>28122311

Buy any house as fast as you can, these deals are not gonna last when the inflation really picks up from the TRILLIONS they are printing.

If you dont like paying 300k+ for a 1800sqft new construction starter home you are gonna HATE paying over a million for that same home on the used market in a few years.

>>28130780
And that's a good thing. There always has to be losers, it's better them then you.

>>28131013
imagine buying a house right now knowing it's the equivalent of buying GME at $450+ but at least interest rates are low so that $300,000 you overpaid is totally gonna be worth it

>>28130739
>>28130881

See
>>28128778

>>28126189
Yea groceries are expensive, travel is expensive and land is expensive.

>>28126256
Shit looks like I got into the wrong profession. Haha

>>28122957
Nothing to really add to this just highlighting a good post.
>>28124186
The problem with this theory is the amount of demand that exists. i think any increase in supply would get absorbed pretty quickly
>>28124315
>putting 50% of your take home pay into paying a mortgage on a house you can't furnish without putting it on a credit card
>comfortable life
>>28124516
A duplex starts at $750k where I live and if it's anything lower than that trust me it's not an area you want to live in or it's too run down to even qualify for conventional financing.
>>28124960
I thought the same thing and I saw a place the size of my kitchen listed on zillow in London, UK for 1.5 million pounds
I don't know who is buying it. I don't know why they're buying it. I don't know how they're buying it but people are. It is pure insanity.
>>28125419
Or just rent a place because who cares
You can find nice houses, not apartments, in good suburban towns that are being rented.

>>28131013
CPI is a fucking meme dude, don't use it. Big Mac index is unironically better

>>28122311
>30% of their income towards housing
I've always put a bit more than 50% of my income to housing, there was never any way to be able to get away with less, and I bought my first house 20 years ago. Today I make 10x more money, and have a bigger house, when I bought it 5 years ago I paid 50% of my income on my mortgage, but these last years have been exceptional with raises and being able to refinance my mortgage to ever lower percentages, so now I'm actually at about 30%. I would say that 30% is what some landed gentry boomer will tell you because that's what makes sense once you're wealthy enough for that to be an option, but reality out there for normal people is you won't get away with less than 50%.

>>28131925
>I don't know who is buying it. I don't know why they're buying it. I don't know how they're buying it but people are
Chinese, Arabs and Indians who will never step foot in the UK and will leave the property unoccupied as a store of value

>>28130120
>tfw own my own house in comfy Fredericksburg working from home doing nothing
Feels good man

>>28128182
Won't happen again, amnesty for 25m Illegals, broken voting and judicial system/ rampant unchecked cheating , corruption and regulation. America is done.

>>28125084
This is what I’m afraid of but I really really don’t want to FOMO into buying property. There’s nothing worth buying in my area right now I figure I might as well at least wait until after this bull run and I’ve cashed out a few mill before getting too concerned with it.

>>28128343
Not everything.
If your soul really exists your life will be recorded in it and you will continue your life with the mind state you had before reincarnating.

>>28132211
Yeah that's how it is here too. There is so much Chinese money coming in bidding up the price of properties, we've all seen it.
There should be a ban on foreign investments into property but it's not like this government would ever do anything to actually help the people who fucking got them elected in the first place.
I think I read it was something like 1 Trillion has been spent by Chinese collectively into Canada, USA, UK, and Australia

>>28131925
>Or just rent a place because who cares
Yeah, I can find a number of places where I'm looking to move to that are renting for like $1K cheaper than the mortgage would be if I bought the exact same house. It's just always a nightmare trying to find a house that allows dogs.
We're debt-free, so the prospect of staying that way while renting, as opposed to taking on literally $1mil+ in mortgage debt, is pretty attractive I'll admit.

>>28123517
>>28123122
Pardon my retardation, but that sounds like a shortage in supply to me. Crashes are usually caused by a shortage in demand, right?

>>28132555
well technically they help boomers

>>28132806
They don't "help" boomers, they just trick them into selling their lineage for cruise liner tickets or something.

I pay $675/month for my mortgage. I need to go refinance, it looks like rates have dropped a bit since 2 years ago.

>>28125906
Winchester and Culpeper are still Northern Virginia bastions and Prince William County is a 2A sanctuary but in general, yes you are right.

>>28128778
we are just now seeing the beginnings of clown world market.

helicopter money is coming. buy a house now before they start handing out zero interest forgivable loans based on your race and heritage. people are gonna keep working from home forever, covid will never end, whites are fleeing cities in record rates, in my area time on the market for houses is measured by hours. if you dont offer at least 5% over asking price you have zero change at getting it.

I bought a new house last year for 380k, its estimated value is now 450. There are zero blacks in the area, kids play in the streets, women jog at night, and people dont even lock their doors. These areas are going away due to immigration and welfare so the values are skyrocketing.

There is a housing thread everynight, boomers really did fuck this generation

>>28132778
The theory is that we have a fuckton of people who would be getting evicted right now due to hoaxvirus lockdowns, etc if not for govt intervention, AND that nearly everyone somehow buying right now is taking out way way way more than they should in debt because rates are low + whatever fucking irrational virus panic shit. People are taking out hundreds and hundreds of thousands more in debt than they can afford, and just assuming the govt protection will last forever.
The crash, if it happens, would be like in 2008 -- suddenly millions of people can't pay their mortgages cause of something like govt protection against foreclosure ending (though with this administration, it probably never will and the dollar will just become zimbabwe tier within 2-3 years) and we have a huge economic crisis.
You can a lot of people ITT saying it'll never happen, but I bet people said the exact same shit in 2006.

>>28123148
It's basically the most depreciating asset you can have, because it leads to high upkeep and more depreciative assets

>>28133672
I agree with you, but I'm worried it's just because I want to agree with you.

>>28133653
I don't mind. Housing threads and Bitcoin threads are peak /biz/

>>28133653
it's just gonna get worse. They are the ones who were able to buy their McMansions for low-600's and then turn around and tell us we just need to save and work hard when the exact same shit is selling for 900K, 1.2mil, etc. not even 10 years later, oh and there's like 10 available houses overall too.

>>28123148
>>28124974
lmao cucks, im gonna marry my tradwife who actually earns double I do lmao. Stop banging them sloots and go for quality
t. engineer

>>28125737
>>28126625
And why do y'all think this is the case? It is PRECISELY because of the addition of women in the corporate labor force that the corporate wage has not kept up with pre-feminism rates. Adding women to the corporate labor force nearly DOUBLED the labor force. The minimum wage was predicated on a single income providing for a household. People exclaim that the minimum wage has not kept pace but it actually has. Why do I say that? The addition of women to the household corporate labor force and the addition of millions of immigrants means that the supply of labor is enormous. That suppresses alone suppresses wages based on supply and demand but with dual income that means the minimum wage now reflects what it takes for TWO breadwinners to provide for a household.

GREED and FEMINISM brought us to this point. Corporate greed of low labor and feminists pushing for women to work for the corporation brought us to an overabundant supply of labor in America.

>>28133672
I'm not sure what will happen but our government has even less legitimacy than in 2008. Back then people could stomach some pain, this time there will be actual widespread unrest if the moratorium is lifted and normal people are booted from their homes. So I think your zimbabwe dollar theory is correct.

>>28133888
not to mention children will be a burden will into their 20's. Because housing is so expensive and school, they will be moving back in with you after college to save. Having children is extremely costly now days, where it used to be a luxury

>>28134299
they will usher in a great reset. People can keep their homes if they trade ownership with government. Government wipes away you debt but they own you

>>28122738
>save $100,000 for a down payment

do you realize how stupid you sound?

>>28122311
either first time home buyer loans or they have money from their family. simple as. i got a first time home buyer with no down, no PMI, on a 270k house and my mortage is like 1,300 or some shit for a 2200 square foot on an acre.

>>28123931
You only think that way because your first loan was likely your college loan

>>28134477
unironically I can see this happening in some form. The hoaxvirus shit, and the moratorium stuff is a great pretext for controlling people's lives and assets further. At the very least I expect major tax hikes in the next 2 years, but only on middle-class people in effect, naturally.

>>28134668
If you make six figures, and live with mommy, OP should be able to save 100k for a down payment

>>28134797
Just wait until oil is 100 dollars a barrel, they killed US energy and now they will force everyone to buy electric cuck carts so you have no control over your transportation anymore. Just more control over your slave life

>>28133672
I think the number of mortgage evictions is overblown, sure tons of renters are gonna be evicted, and sure some landlords are gonna get popped, but that creates room for new landlords to get in cheaper. The wife works for a bank and basically everyone that was in forebarence, didn't need to be but took it thinking everyone was gonna die, and have already returned to normal payments.

What's going to happen to all of the abandoned retail space post COVID? Will it be turned into housing/high rises?

>>28135310
china already bought it and xi pwing xhao is boarding up the windows in preparation for the property being a lovely bit of collateral for the next 100 years.

>>28124716
You got any sources on these claims of people taking out clown loans for houses? The only people I know that are buying houses right now are the ones that can afford them, i.e. the lucky ones who didn't get financially ruined by the canton coof

>>28122311
>How are people paying for homes right now?
not a single one of my friends have bought a house or are even thinking about it.
>inb4 you have no friends

People use the term "rentcuck" while they cuck to the bank. With the mortgage payments you still pay taxes, interest on the mortgage, HOAs, repairs, upkeep, excess furniture for more rooms, and you're stuck with it unless you go through the process of selling.

>>28124974
you're doing it wrong

>>28126827
sure would be a pity of the dollar got fucked by inflation

>>28128778
>Rent is free when you live with your parents
Only when you're a child

>>28134668
You can't save 100K?

>>28122311
>24 years old
>making 75k
>could easily afford a mortgage
It's your state, retard.

>>28122311
Live in a nonblue state

>>28123148
Maybe entitled women. My partner and I know we're a team and split on alot to cut costs for eachother. I'm 24. She's 21. She's been in a bind and I've been in a bind. We both come out richer when we help out appropriately.

>>28126256
Did you get get your job during covid? I graduated CS in may 2020 and can't get an interview. Considering kms if crypto doesn't play out

>>28138170
Find me a redder state than Idaho.

>>28138487
But a smaller house and live within your means.

>>28138447
I'm self taught. Have a bachelor's in Finance. Graduated in May of 2018. Did freelance work during my senior year and still couldn't get an interview until August of 2018. Got an offer after my first in person interview and got the job for 38K. I quickly shot up in salary after that first job though.

>>28135174
ur avg bank also doesn't typically invest in substandard properties. usually its luxury/class a apartments where tenants are working from home.

>>28138665
The smallest house in Boise is going to cost $400k minimum. I can afford it, but I'd rather just wait for the inevitable collapse.

>>28125789
incoming UBI. They're start now with relief bills every few months.

>>28138487
Oklahoma

>>28122311
>marry someone who also makes money
>have way more money

>>28138128
I bet you live in some shithole like Arkansas

>tfw poorfag and average rent is my total monthly paycheck
Idk how people are doing it on their own without making like $25 an hour. 1500+ a month for a one bedroom apartment here in canadaland, getting raped for 5k plus on the year in car insurance because I'm a white adult male with a "hard" driving mid-2010s basic bitch Corolla

>>28126482
It depends on what's more important to you. If you pay in cash you save money on the house in the long run since there's no interest, but you also have less play money for investing in your assets of choice

>>28139171
>Implying anybody wants to marry me

>>28138963
>Boise
There’s your problem

>>28133672
No one is getting foreclosed on after the moratorium ends, the only people who have actually been unemployed for the past year are waiters and bartenders and other low end wagies who dont own houses to begin with. All this talk about a housing crash is literal cope, no one is going to stop buying as long as inflation adjusted interest rates are 0, you can put 3.5% down, and you can work from home from the suburbs instead of renting a cuckcube near your office.

>>28139194
>shithole
>able to afford to become wealthy
This is your brain on consoomerism

>>28130739
he probably barely makes 6 figs

>>28139201
>5k plus on the year in car insurance because I'm a white adult male with a "hard" driving mid-2010s basic bitch Corolla
with a few DUIs and speeding tickets under your belt? 5k is really high. Maybe you're quite young too, but sheesh.

>>28139389
Wanting access to mountains isn't consumerism.

op where the fuck do you live where six figures isnt enough to afford a mortgage

>>28139201
seems unless you're making triple digits you're going to be putting half your money in rent/utilities. And nobody here is making triple digits, not starting out anyway. It's like we have American living expenses with eastern euro salaries.

You can afford to get buy but not to save and invest, probably why we never have a booming economy like America. People have enough to live but not to spend and invest

>>28139979
Man half of you are illiterate. Again, I can afford it. I'm worried about buying into a bubble because I don't believe all the poors can afford housing.

>>28122864
>moratoriums
People aren't paying their mortgages AND THIS IS OKAY? Why didn't I fucking hear about this.

>>28139759
It is though.

It’s why you’re poor. You’re paying for those mountains. You’ll get sick of them. You’ll wish that you could escape.

Me? I got flat land, warm weather, a paid off house, and a nice nudist colony to live on.

>>28140547
>Just get rid of all your hobbies OP

>>28122311
24, with cash.

>>28140799
If you want to pay for the mountains, pay for the mountains.

But don’t cry when a man from the land of missing teeth has more sheckles than you do.

>>28140221
"would barely be able to comfortably afford a mortgage"
there are 5 cities in the US where this is the case with a six figure salary

>>28141104
You're probably looking at outdated housing numbers.

>>28124516
>house hacking
fuck off with your zoomer terms, retard

>>28141012
If your house is paid off, you've clearly purchased a home before 2018.

>Downpayment

Lol go to bed grandpa. Millenials buy houses with 0 down and max out that 30 year mortgage. The house is rapidly increasing in price so who cares.

>>28141790
Yes, doesn’t mean I didn’t struggle to pay it off.
t. 2006

>>28131013
Don't talk shit about one room shacks. Small cabins with a loft can be super cozy and beautiful. I will be laughing as I watch the snow fall through my skylight and I make coffee and an awesome breakfast every morning while you wage to death

>>28139194
Hey why bring Arkansas into this
The ozarks are based.
I bet you live in a stinky city state that has no nature

>>28134932
>and live with mommy

I forgot I'm dealing with literal children.

>>28137824
>Yeah just save 100k up over 3-5 years, no big deal.
>Oh shit now its 5 years later and now I need double my down payment even though my paycheck is only 20% more than 5 years ago