/biz/ - Business & Finance

>>29430749
In my area all the homes were 20k in the 90s. Now 1+ million. How the fuck.

>>29430749
I just don't understand real estate, the inflation and constant demand is baffling

>>29430899
t. Will be priced out forever unless I get giga job

>>29430899
>constant demand is baffling
Everybody needs to live somewhere, democrats mandate banks throw out cheap money. Walla!

>>29430749
The funny thing is the boomers still struggled to pay off their mortgages.

>>29431084
but I don't want to be indentured to the bank untill I die

>>29430749
Funny, that shows as being sold for $785k in 2012 for me.
Just buy something 30 miles outside of Portland anon. 5k is actually a pretty big house. Notice the tax assessment is about half the offer price.

>>29431088
I know a couple that bought a house in 1979 for 70k and now it's worth $1 million.

>>29430899
>constant demand is baffling
Most boomers paid off the mortgage for their first home after 3-6 years. And then they decided to collectively larp as real estate moguls and purchase more homes which they could rent out. This gave birth to real estate as a speculative investment, which introduced large corporations which specialize in buying up thousands of small apartments that they can rent out to people who've been priced out.

All the generations before the boomers understood that if you turn home ownership into a speculative investment, you're going to destroy the next generations. But the boomers didn't care because the hyper capitalism of the 1980s was all about "fuck you, pay me".

>>29430899
>Constant demand
10 billion people by 2050 you fucking bet its constant demand

>>29431159
Game was rigged from the start, long before you were born

40% of all US real estate is owned by foreigners

>>29430899
>constant demand is baffling
the FED is buying up everything with their fake $$$$$$$$$$$$

>>29431300
they get to make it for free then tell us that wageslaving for 40 years is what we should do even though we have smaller wages/shit fait compared to them

boomers man

>>29431345
98% of these extra billions is poor nogs, poops and chongs

>>29430899
>constant demand is baffling
have sex

>>29430749
Do you know what that neighborhood was like in 1998? Not nearly as gentrified as today. There's a reason it was only $100K back then.

>>29430899
Land is a finite resource, the market is highly illiquid, and homes are artificially scarce due to credit requirements. It has nowhere to go but up and soon enough a cuck shed on the outskirts of the city will be worth half a million dollars simply because loads of poor people arent allowed to buy anything else, they can only rent.
People with backyards today may even one day be able to make a killing by building shitty McGuest homes and selling fractions of their .25 acres of land.

>>29431345
constant demand implies constant birthrate, your implied assumption is baseless and wrong

>>29431447
Nobody listens to them anymore, so it doesn't really matter. Even their grandkids hate them.

>>29430749
>another fuckhuge boomerbox
Do us all a favor and let them die with this in possession. Do not buy this shit off them.
That is too much god damned house. No one needs that kind of house unless you've got 8 kids or are keeping it for generations. But we all know that isn't the fate of it. It houses four people for 20 years then two people for 20 more and one for the last ten. Then two of those people fight over and eventually fucking sell it anyways.
Do not. Contribute. To. The McMansion Menace.
Also, reminder, boomers are asking $1MM plus for their bloated stick frame shit because they're financially irresponsible and never saved for retirement.
They actually thought social security was gonna cut it, lol. They expect you to bail them out. Don't do it.
Here's what you do.
You buy unimproved land. Yes that's right. Get yourself some acres. Costs as much as used corolla. Get em with trees on them, good trees. Then rent your bitch ass a sawmill OR get buff using hand saws and planers. Rip boards. Build yourself that fucking house. You take it moderate you can be ready for rough in a year.

>>29431557
well i'm depressed now

>>29430899
Immigrants come here by the boatload retard. More people = more demand.

Brampton, Ontario is your future. 2-3 families sharing a 3 bedroom. 5 people to a room.

>>29431381
Residential only or are you including commercial?

>>29431671
Move if you can. I'm getting out to Thailand or Vietnam where they dont tolerate this shit.

>>29431639
>You buy unimproved land.
ya
so the unimproved land near my parents place which is a 3-5 hour drive to a major city (depending on direction) has gone way the fuck up because Torontonian yuppies who were scared of the corona virus bought up as much as they could at the drop of a hat this year.


i found 10 acres of land, it has some shoreline on a lake. No power, no cell reception, no roads, no nothing. 10.5 million asking price.
This is typical of this area.

only 2 years ago in the same area I found 80 acres for 200k

>>29431573
Niggers and cholos are breeding like crazy. Homes will stay high in demand as rental properties bought up by wealthy boomers and corporations.

>>29431480
And a whole pile of them end up in the west pushing up prices forever. Comine this with the fact that the buy to let market is a fucking goldmine propped up by most governments and you get yourself a housing bubble that WILL NOT BURST

>>29431888
>can*da

You don't look very hard.

>>29430749
If /biz/ were in charge of policy, how would you attempt to fix housing prices?
Would discouraging debt leveraging the way to go? Make people actually own the equity in the properties they “own” before they can rent them out?
Encourage new development through tax incentives?
Heavily tax foreign investment of real estate past the first property?
It just feels like the government wants prices high as it’s the only part of this sham economy keeping things afloat.

>>29431639
>sorry, this area is only zoned for residential houses with at least 2 bathrooms
>contact your local (((developer))) who I'm sure would love to build you your dream mcmansion per the county zoning requirements

>>29432086
ya ok, so shit is cheap if you are willing to drive 16-20 hours north from everything else

which I would be willing to do if I could also make money while I was there.

>>29431888
Checked
Fuck the ask, bid fair, people are bullshitters when it comes to land. When there's a house they can get away with gouging. When it's just all a bunch of wild shit they're lucky to get an offer, virophobes withstanding
>>29432161
Yeah you need to look around for a state that isn't completely jewed.

Last time my parents bought an house was unironically in 1998.
They definitely couldn't afford the same house at today's prices.

>>29432122
>how would you attempt to fix housing prices?
make corona virus dangerous to everyone, not just fat and old people

>>29431557
>People with backyards today may even one day be able to make a killing by building shitty McGuest homes and selling fractions of their .25 acres of land

Fuck that sounds awful. If I wanted to live that close to someone I'd have bought a town house.

>>29432240
yeah, this is true

I am also hoping that when vaccines are widespread enough the cidiots go back home and there is a crash in the rural areas 3+ hours away

>>29432122
ban home ownership as a speculative instrument

>>29432230
6 miles from the nearest town

>>29431639
this, fuck these goddamn houses you dont need or want that fucking space, you want that then do it yourself by buying cheap acres and slowly building it over time. Its rough but way more worth it and at the end you get your idea house and not some shitty boomer tinderbox. Not only that but buying a fucking house at these prices are just cucked, just get a good apartment or get a condo or rent out a house. Why the fuck would you put that much down on a house and still making payments, and even at the end it doesnt matter because if the bank was so inclined they can take your house if they want. Fuck that nonsense

My parents bought their house in San Francisco in the 80s for 181k

>>29430899
The time to get permits to start new home construction is years in and around many cities. Builders like Lennar are churning them out as fast as they can and they still can't keep up with demand.

>>29432122
>It just feels like the government wants prices high as it’s the only part of this sham economy keeping things afloat.
That, and because the people in charge are profiting from it. Same thing with the stock market.

You can find a bunch of societal problems that'll be ignored by the seemingly incompetent lawmakers, but the moment something begins to threaten the lawmakers own investments, they're the pretty quick to call for hearings, and pass laws and legislation to make sure their own investments don't suffer.

>>29430749
I just want a fucking fucking house to die in. Is that too much to fucking ask?

>>29432122
real fucking easy. Tax houses that aren't "primary residence" at a 60% rate. Add another 10% for each additional property. If you have more than two houses, the higher applicable rate will be applied to the most expensive property that is not the "primary residence." There is no cap, it can go into 6 gorillion percent.
If the residence that is not your primary is rented out, and is not a multi-family property, you pay the normal tax rate, but you get an additional "rental tax" on top of existing taxes for 5% of appraised value of property.
tl;dr make it expensive to speculate on real estate.

>>29430749
a 500k home now will be worth 5m in 10 years with hyperinflation

>>29432122
Get rid of 90% of zoning and building regulations
Minimum square footage for instance is utter semitic horseshit

>>29432383
More people have money invested into property in australia than the stock market. That doesnt include people who buy houses to live in.

>>29430899
take the debtmaxxx pill

>>29430749
shithouse pump and dump

>>29431084
Hahahah Democrats. You mean that piece of shit trump he did this shit

>not even 13x in 23 years
Nice "investment" boomers.

>>29430848
Inflation and the chinese buying housing bubble.

Houses before was just a property to live on, now it's a wash trading scene for triads. Hongcouver is a good case.

Housing prices are fucked up all throughout the western world, what should we do bros

The housing market is in a bubble as it stands, dipshit. Buying in now is the worst time. Shit’s gonna bust very soon.

>>29432383
this

>>29430899
chinks

>>29432617
How soon
inb4 2 more weeks

>>29431557
>building shitty McGuest homes and selling fractions of their .25 acres of land.
Already rapidly becoming the next big trend. Kek
We get the pleasure of buying a shed, sorry “ADU”, in someone’s backyard for the low low price of $320,000!

>>29432122
> Make people actually own the equity in the properties they “own” before they can rent them out?

This is a big one. I work with Fannie Mae/Freddie Mac and FHA for my wagie job, have for a few years now. Most investors in higher traffic areas are foreign families, conglomerates of sorts who continuously buy up land. They understand lending guidelines, and just gift their relatives all the money needed to make the down payment, and make them take a primary residence.
It's not uncommon to see a deal that has a 700k home, with 100k down payment all coming from some chink's great uncle or whatever.

>Encourage new development through tax incentives?
>Heavily tax foreign investment of real estate past the first property?

Could help keep these foreign families from buying everything, but Fannie/Freddie guidelines don't really keep them from doing it. They have the money to continuously scoop up real estate.
Also to note, you don't even need to be a citizen to own multiple properties. You only need a green card, and in some cases can get away with a work visa.

to sum up, it's fucked, and until there's a change in the rental policies of real estate, these families can continue to qualify with rental income for their next mortgage, and so on. It's the easiest thing to stack in finance with enough capital and enough bodies to stick your new properties to.

>>29432462
That and lot setback regulations. The amount of inefficient land use in the US is staggering, especially when we used to design vastly superior cities prior to WWII.

>>29432488
Ah dood
https://m.youtube.com/watch?v=oD2gXY4piF4

>>29432702
If I had to guess, next year or two.

>>29432782
China unironically gives them the money to do this, every chinese family who opts in gets 50,000 to spend on foreign investment as a base.

>>29432617
>>29432920
Based on what metric dingleberry?

>>29430749
I make 12x in a month with this bull market. Stop being poor.

>>29431639
I don't think that last one is even possible in most euro countries thanks to shit like planning laws. We're just cucked forever from the housing market

>tfw about to start house shopping and interest rates like doubled over the weekend
fuck this clown world shit. It went from seeing loans that charged like 0.3 points to the same fucking things charging 3+ like overnight

>>29432669
It's Indians here. They swoop in the second a house is listed with cash well above asking price so they can rent it out. The only reason I got my house is because the people selling it we're based and didn't want to fuck over their neighbors. We sent a picture of our clean cut white family with our offer. Worked like a charm.

>>29432782
Thanks for the insights, based Emmybro.
The greed of our so called leaders knows no bounds to let this continue so long.
So you’re saying that over 50% of the loans you worked with were through foreign investors? Incredible, but not surprising in the least. Even more ridiculous is that it’s nearly impossible for an American to buy property in China unless you’re ethnically Chinese. Even being married to a Chinese woman isn’t enough and she would have to co-sign.

Imagine buying a house in a populated area lmao. Just buy rural property and rent where you work.

>>29433344
You'd think the name would be enough, retard.

>>29433488
Think outside the poo in loo problem. There's lots of niggers here with slave names...

>>29433007
elk hentai

>>29433488
you really think this inbred faggot's name is stewart?
I thought you knew better than that, hitler.

>>29432669
>>29433344
Literally chinks and indians here (northern VA). Anon is right -- they somehow have money to make like $50K earnest offers on houses sight-unseen, and no joke 9/10 country property sales I look up online are super indian or chink names

>>29432230
Delivery + Elon's satellite internet

What are you missing out on? Do you really go to that many plays, restaurants, and night clubs?

>>29432782
There are real estate agents in Canada, who take their Canadian real estate lienence exam in Chinese, dont speak a lick of english, and their entire job is catering to Chinese nationals showing them property after property and they buy up every single one. Its actually clown world. I cant help but feel contempt for a civilization so glaringly suicidal.

i literally would live in a fucking prefab toolshed that i could fix up but they wont even let you do that because of (((zoning codes))) or what the fuck ever you have to buy some retard niggas crack den in the worst part of town that costs 400k and needs 100k in work done or rent a shit hole with miserable neighbors just past every wall fuck this man

>>29432488
i fucking died reading this top kek

>>29433488
I also once had a straight from India neighbor named George George. Fucking hell you can't make this shit up. Name means nothing when you can change it.

>>29433802
>shack with no electrical service
>UNFIT FOR HABITATION, INSTANTLY CONDEMNED, GOY!
>$150k crackhouse surrounded by niggers
>welcome, goyim!

which one is more likely to get you killed? really does... make you think...

>>29432385
you ever been to timmins anon?

As you drive closer the houses get more dilapidated while the signs for the Shania Twain centre get bigger

>>29432782
>>29432945

>be USD
>was strong
>decide to abuse reserve currency status
>other countries start demanding gold repatriation
>1971, lolnope. you can't get gold with USD no more
>world goes on
>USD keeps getting shittier and shittier
>USD exported as ever greater quanitities to import goods
>china in particular sees this and devises a scheme
>since USD is worth less every year, we will buy your hard assets with your dollars earned through our trade surplus with you
>you can print as much as you want but we will make rental slaves of your citizens with using your money
>now rule of law says all your base are belong to us

and that's how the US thought it was clever. when it wasn't. i too would be pissed if someone smarted me at my own game. but then i would have to respect them after.

>>29432945
I actually don't see a lot of chinese names/investors in here. It's actually all vietnamese/thai, or whatever country all the 'Tran/than/etc' names come from.
Would like to read up on that if you've got a link.

>>29433108
Based. Don't even need this money. Just 'qualifying income' of a McDonalds level job can get you into a heated shitbox of a home with 95% LTV mortgage. Know many people, even with experience in the field who fall for the debt trap and become house poor. Unreal.

>>29433429
It's about 90% in CA, and west coast is still around 50-60 or more. That is also most of our firm's business, so I'm likely overexposed to it, but yeah, it's a staggering thought to consider, most of our land isn't owned by US citizens.

>>29433344
I would slide your deal through instantly if I got it. Keep it up, anon. You'll make it.

>>29433444
All land will become a commodity. Owning more is a great idea. I've currently got my eye on about 250 acres in the backwoods.

>>29430899
Houses aren’t going up. The dollar is going down.

>>29432122
>>29432462
anon gets my vote
add to that no cheaper credit on real estate than anywhere else. the reason we need credit to buy houses is because there is cheap credit to start with, inflating prices
real estate essentially has an unfair competitive advantage compared to most other investment vehicles for the middle class, and that artificial capital efficiency vacuums value that would be spread out otherwise

>>29430749
> 2019: tax assesment - 621k
> 2021 listed for sale - 1.3 M
Thanks FED for keeping the inflation target at 2%. :))
You zoomers are not working hard enough.
Better not eat those avocados and pull up by bootstraps

What the fuck does my net worth of $70,000 get me? Am I just fucked?

>>29432385
fuck i knew it was going to be in timmins, hope you like -40c in winter and mosquitos the size of birds in the summer. Not saying if I had the cash I wouldnt get it(remember land sales are always cash!) but man that would be some tough living.

>>29431322
god I hate boomers even more now.

>>29432488
My fucking sides

>>29434499
debtmaxxx your way into a $400k ((((starter home))) which will cost you 40% of your post-tax wagepittance for the next 30 years of your life.

>>29432512
where did chinks get so much money? That's what I don't get, didn't half them die in a famine like 60 years go?

>>29434499
Depends. Net worth, cash on hand? Most qualification is moreso dependent on your reported income. Remember, you are trying to get a loan from (((them))) so you will need to play their game if you want a loan.

>>29434499
A 5% down payment on a house in the year 2022 :^)

>>29434635
well, your politicians and business leaders shipped off your entire industry to their country
now they make things you used to make
I wonder where all the money went?

>>29434113
https://en.wikipedia.org/wiki/Anbang

Look up Anbang Realestate and do a deep dive, they're the primary guys who give out the money to these families

>>29431345
sure those 98% poorfags are driving prices up by millions
exticntion rebellion amirite
also global total fertility rate is 2.44, plateau and dip soon

>>29434639
I'm only qualified for a loan of $140,000 because I'm a freelancer.

>>29434602
"Just work hard and keep at it anon, you'll find a nice place"
>bought a house for $500K+ less than you'll ever get to pay for the exact same shit and did so in a plentiful market where they had 1-2 years to casually look at 100's of properties before choosing their perfect one AND getting an all-time low interest rate

>>29430899
pricing structure for housing plays into the inflation and mortgage schemes
there are brokers/MLS that use AI pricing and its making it even worse

>>29434701
oh yeah, that

>>29434762

>>29430749
I was lucky enough to get a shitty townhouse that has now gained literally $30k in value in a year. I didn't even buy it as an investment I just didn't want to have a chink landlord anymore.

>>29434635
the same way crooked russians got their money. when their shitty country transitioned from actual communism to whatever the fuck you call it today, the politically powerful and those connected to the politically powerful misappropriated state funds. rather than let their newfound wealth sit in their house of cards chink economy, they dump it into stable assets like housing because they understand the deal. that is, they know that our kiked local, state, and federal governments will allow entire generations to be permanently priced out of home ownership because houses going up 5-10% every year from dirty chink money inflow means more ((((TAX REVENUE.))))

>>29433444
smartest possible move, buying a fucking house in a populated area thinking you're hot shit until you realize the town you're living in slowly becomes shit and now your house is right in the middle of niggerville, and you cant leave unlike renting. Get land and just have it handy or build a place but I really do think anyone buying a house is retarded until the bubble pops

>a million dollars to live in P*rtland
oh no no no

>>29434499
Just be yourself.

>>29432617
Depends where you are, Ontario for example not a chance. Government wants to increase the immigrant levels once again it's up and up and up and up from here baby.

>>29434888
>rural areas
i would love to live in a rural area. i don't want to work in a warehouse or a walmart for the rest of my life.

t. grew up in a town of 3000 people and left.

What will Chinks and Indians do when niggers burn down their property?

>Buy Million dollar House in city center
>Gets burned down by 2 dollars worth of malt liquor

>>29430749

> x10 in 20+ years..

I rather stay in crypto and x10 in 20 days.

Life is, too short.

>>29434602
>"You cant take it with you when you die!"

Told this to my mom ironically and she agreed. She sold our inheritance house for much much less than what its worth so she could quit her job asap and retire. If I talk about housing worries she zones out every time on que.

>>29434926
firm handshake and look into eyes

>>29435151
Seethe, cumskin

>>29430899
Ngmi

>>29431322
>mortgage
> 3-6 years
Are you an absolute mongoloid? Nobody pays off a mortgage in 3 years you fucking retard. You should also check the interest rates boomers were paying, they peaked at around 18% or so. Stop complaining like bitches, you're getting it all when they die anyway.

>>29435267
I love blacks for the sole reason that they're the last untamed wild man to stop us from full globohomo control

>>29432438
that's not all you want. you want it to be close to work, you want it to be in a nice neighborhood, etc. if that's all you wanted there's no reason you can't have it by your late 20's, early 30's.

>>29435151
you know what theyll do. Blame 'white supremacy'

>>29431639
>pays $200k above asking price in your way

>>29435593
forgot image

>>29434722
Appreciate the heads up. Surprised I didn't find something on this sooner.

>>29434725
If you have more liquid funds, you could also opt to put more down, assuming you're going to pay it quick and not be house poor.
Ex. If you put down 20%, you may qualify for 140, or 30% for 160, etc.
Speaking from experience, you're going to want to be careful and shoot for payoff in 10 years versus a 30y fixed, as the amount of interest you will pay, even with lower rates, is astronomical.

>>29435359
I did, but I'm overpaid by the debt slavers.

>>29435197
HAHAHHAHAHAHAHAHHA

>>29435565
>Issue isn't addressed so problem still continues
Amazin

>>29431322
>"Resources exist to be consumed. And consumed they will be, if not by this generation then by some future. By what right does this forgotten future seek to deny us our birthright? None I say! Let us take what is ours, chew and eat our fill."
CEO Nwabudike Morgan, "The Ethics of Greed"

>>29430749
No need for 1998. I bought 4 houses in 2020. Three of them were <$200k, 1 of those was less than $50k. I get emails, cold calls, and snail mail almost daily from people looking to buy my houses for more than I bought them.

>>29434113
>I've currently got my eye on about 250 acres in the backwoods.

This is a long term goal for me too but I've noticed in my area that those large parcels get bought and subdivided for a quick dollar pretty quickly.

>>29430899
is supply growing with population? not in places people want to live like the pacific west coast and major cities.

>>29432488
>Leased Luxury car with Negative Equity Trade In

I wish I could make this happen. In my experience Car Dealers are fucking picky as hell with debt and aren't afraid to say no if you can't put down at least 10% on whatever it is you're buying.

>>29435946
Fuck the cities, I'm priced out of rural indiana

>>29430749
I see you bros, everyday, complaining about not being able to buy a house, or being priced out, or whatever limp dick excuse you have to not sack up and just do it.
I bought my first house in 2007, right before the housing crash, while I was only making $15 an hour. Lived there and made my mortgage payments on time for 7 years. Sold that house at a ridiculous 78% gain in 2015. Used the equity from that sell to purchase a WAY nicer house with a 20% down conventional loan.
>just take the jump
Just. Fucking. Do. It.
There are federal backed loans for first time home buyers THAT GIVE YOU A FUCKING MORTGAGE FOR $0 FUCKING DOLLARS DOWN.
Thats it. You just sign a paper and walk in the front door. You usually don't even have to make your first payment for 2-3 months.
They want people to buy fucking houses. THE GODDAMNED US GOVERNMENT will literally get you in your first house for $0 dollars and then protect your fucking mortgage.
It is now, at this very moment, THE EASIEST FUCKING TIME TO BUY A HOUSE EVER IN HISTORY!
If you want a house, a nice house, the pathway to that is buying an okay house, make your mortgage payments on time, and have diamond hands whilst building equity.
This will enable you to buy your dream house in 3-7 years.
Stop being limp ducked faggots and put your money where your mouth is and achieve this dream
Faggots

>>29430749
>Portland

yeah that'll be worth about $300k in about 4 years.

>>29435672
>the amount of interest you will pay, even with lower rates, is astronomical.
on schedule i'll pay an extra 50% of the loan value over 30 years. that's not astronomical.
i can round up to the next hundred each month and cut it by 20% and reduce the term from 30 years to like 23.
the careful way is to allow yourself room to save while paying and be at a point where in ten years you CAN pay it off, but don't need to.

>>29436147
>click arrow
>hide post

>>29436216

are you saying a crash is coming anon?

>>29436079
>In my experience Car Dealers are fucking picky as hell with debt and aren't afraid to say no if you can't put down at least 10% on whatever it is you're buying.
Your experience might be old. Car dealers now are extending credit to anyone they want. Remember financing is how car dealers make most of their money, so they're happy to give you as much of a loan as you want (or even more)

Some people think that if you're paying cash you can get a "better deal" for a car. The opposite is true, because in a cash deal the dealer will only make whatever the difference between what they bought it for, rather than get those finance payments, so they make a LOT less money.

The one thing that has stayed fairly reasonable is upper end homes in the expensive midwest suburbs. Not many people can afford a $2m home in the midwest and thus prices have stayed around there for a while. All houses around my parents have only doubled since the mid 90's. I think my parents bought theirs for $500k in the early 90's and it is now worth $1.1m or so in Saint Louis. Housing is cucked right now, and to be honest legislation should be put in place that makes it illegal to rent out single family homes. I think legislation like that in combination with boomers dying out and flooding the market with houses should get the market under control. What the fuck do I know though, I throw hundreds of thousands of dollars at shitcoins that have no real world usage.

>>29430848
>>29430899

America spent 24 trillion dollars on wara for Israel with money borrowed from the jewish controlled federal reserve. Someone has to pay that interest. Someone has to give value to dollars by being forced to pay taxes in it.

>>29431322
Pretty much this. If you people want to know why shit sucks today, look at what the current generation of "leaders" did back in the 80's and 90's. The USA is going to implode and they don't give a fuck because they all have a foot in the grave and the other on their kid's necks.

>>29432363
Ive unironically lived in one of those backyard situations in california to save on rent. Was better than a townhome because I was disconnected from the main house (less noise sharing), had all the appliances, the driveway went right up to my door with space for a guest, and a tiny back patio to smoke weed on.

Always a plus to build a back house if you have room. Worst guest it's a guest house or mancave

>>29432122
Increasing tax rates for secondary and investment properties, with tax breaks if you rent at or below market rates. Primary homes need to have far less a tax burden on working families. Ban chinks.

A 180k house I lived in from 2009 to 2012 now costs 1.2mil.

WTF

>>29432122
all the anons here asking for deregulated zoning don't know how bad things would get, yimby's are strange folks

>>29436216
I think you mean 300k yuan

>>29435151
Insurance pays for that shit.

>>29437090
>Muh insurance
How the fuck is insurance going to pay out billions of dollars?

>>29435267
>Seethe, cumskin

>>29436370
>so they're happy to give you as much of a loan as you want (or even more)

Unironically i've NEVER seen that happen. Like seriously I remember I tried getting an overhyped meme BRZ back like 2 years ago when I worked at Walmart and the dealership and the credit unions both essentially laughed me out the door when I told them the best I could do in terms of downpayment is like 500 as the usual amount is something like 5 grand.

>>29436533
Checked and keked.

>>29432457
this is my house

>>29437169
Insurance companies have trillions, and if they didn't they will just print the money they need. Numbers are meaningless now.

>>29437169
They wont
>act of god
>act of KANG
>civil unrest
These are usually exclusions

>>29432488
You're not getting new loans or a car lease with a shit credit score

>>29436272
50% not astronomical in your mind?!

>>29431557
Literally already happening in CA. ADUs

>>29435359
>you're getting it all when they die
nobody is leaving me shit

I got pre approved for $450k but that doesn't buy shit and property tax in CA is going up to 1.1% of property value per year so on $450k that's $413 a month

>>29437962
You could just move to Texas like literally everyone else.

>>29432782
Good post

>>29436538
Reagan is burning in the deepest pits of hell along with all the boomers who voted for him.

>>29432122
Tax fuck foreign investors into oblivion. There is absolutely no reason that foreign investors should be able to purchase more than one investment property without paying heavy taxes. Our government is selling us into indentured servitude.

>>29432782
America is such a terrible place to live.

fuck bros, i'm all doomer'd out now

>>29432122
Here's my list:
>Corporate entities aren't allowed to own residential properties, only individuals.
>Only US citizens are allowed to own residential properties.
>An individual can only have one residential property registered in their name
>An individual may rent their property only if they own the equity
Fuck boomers and fuck the government.

>>29430749
Have an uncle who landed an inheritance of 600k when his father died, he bought 5 houses, all of them are worth over 1.1 million now. He rents all of them out and just collects money, does nothing else, just kept buying property.

Was a complete fuck up his entire life.

>>29432512
>chinese buying housing
how the fuck is this even legal.
Housing should have subsidize back in the 80s ffs.

>>29431888
All those retards buying up land they will never use. Fuck the government for letting chinks and poos invest and destroy our housing market.
I hate this shithole country.

>>29439240
sounds good to me

Good old southeast europe. Yugoboomers just came to an empty piece of land and started building houses without asking anybody, years later it would turn out that exactly that was what keeps these countries afloat

>>29439355
blame the boomers, they cant handle a market crash

>>29432385
It literally says you cannot live in it year round and it can only be 500 square feet.

>>29438890
IKTF. I'm not trying to be a humblebrag nigger, but even I'm fucking dooming while trying to hunt for houses and we have a combined salary of ~240K, pmuch no debt, we have a VA loan ----- and we're STILL fucking priced out of half the places in our area and/or beat out by indians and chinks who buy essentially every property (no joke, literally 90%+ of sales go to chinks/indians here, just looking at the Rameshaurhejash surnames on every county property sale lookup) for 20-50K more than its listed price within hours of it going on the market

>>29437962
>>29438168
Calinigger needs to stay in Cali

>>29438590
this. I unironically want to move away

t. american

It's not just demand. I know of entire apartment blocks that have been bought out by foreign investors and are mostly sitting empty. There is an artificial shortage, and they drip feed so that when one does come on the market people scrambleto get it and pay stupid money.

>>29439975
You must live on the Eastside of Lake Washington.

>>29431888
I hate Torontonians so much, and a big part of that hate is because of their fucking housing market that is trying to swallow up as much as it can.

>>29440473
Reminds me of the nigger area I used to live in, where a "nice" house rented for like 1.7K / sold for low $300's, and they built this giant complex of fucking $4k+/mo. luxury apartments. It's been like 5 years now, and at night when I drive by I see maybe like.. 4 or 5 units out of hundreds with lights on.
Once I learned this is exactly how chinks, etc park their money in the US it made more sense.

>>29440663
Northern Virgina, but it's all the same shit: over-crowded globalhomo area.

>>29432122
The problems are much deeper than the housing market. First things first, abolish the federal reserve and make the us dollar backed by gold/silver. Remove most of the regulations and taxes and allow the free market capitalism to flourish. However, these necessary steps would cause crashes in almost all asset classes as the fair value is found.

>>29440791
Bro I’m right here with ya. It’s absofuckinglutely in this area. Best bet is to go south to Stafford or lower, or west a lil in the mountains. But then there’s the fucking daily commute. People don’t understand because they don’t live here. We clear a lot of money too, but are in the same boat. Idk man. Shits grim as fuck

>>29430749
neo-feudalism when

>>29430848
Those 30k loans turned into 150k+ after interest. Rates back then were much higher

>>29441439
That still has a lot of math missing I’ll gladly pay $100k more for a loan when it guarantees me a house with land and it’s value to triple/quadruple the next 20 years.

>>29437562
>50% in 30 years
You're on the wrong board

>>29441280
I'm still holding on to the pipe dream of buying in like Lenah Mill in Chantilly, or somewhere in Herndon or Reston, but.... lol...
we went from combined income ~200K paying $1.9K rent for a 4br 2200 sq ft house to ~240K staring at the prospect of a goddamn 4-5K/mo mortgage for either a 1940's shitter house or a needless McMansion -- both are somehow the same price cause MUH LOCATIONS. This shit makes me nervous as fuck.

>>29430848
Wtfhappenedin1971.com

>>29441773
Yup. I feel ya. We’re looking for a nice single family to raise our two kids, but I’m not trying to pay 6-7-800k for the convenience of being in Fairfax or ashburn. Going down south to Stafford, Aquia harbor. Nice gated community right off 95. The commute will suck but for the price and amount of land we’re gonna get it’s the best bet around here. Good luck to you nova anon.

>>29430749
Relative bought a house on Staten Island, NY, in 1980s for $17k, she just sold it for $1.1m. Cray

>>29442218
Yeah that’s nice. father just sold his house in Kingstowne(suburb of dc) Paid 99,000 in 77. Sold for 625k just because the area freakin exploded.

>>29442108
y-you too.
Nice on Aquia Harbor -- I quickly saw that was a nice looking place early on when we though job stuff might wind us up around there instead of Loudon county. It looks like an extremely comfy place.

what if a war with china means all triad buildings be nationalized?

>>29431557
I recently saw a property sell for $360,000. It was an “artists studio” on a 2000 square foot parcel. Basically a shed from Home Depot

California of course

>>29430899
this is called open borders my friend
ALL IMMIGRATION

>>29435866
Based SMAC poster

God that game was good

>>29432498
fucking trump causing the 2008 housing crash what a shit president

>>29431447
>14x in 42 years.
>6.55% annual return
>make it for free

I'd hardly call it making it for free. Wouldn't really even call it making it when you factor in inflation and any financing.

>>29431203
Nigger, OR p tax is capped at 3% increase a year, dumb faggot. Everything has a much lower "assessment" than market value, unless it's new construction

>>29431550
Nigger, it's ptown, even the most niggerfied areas are 90% non-black

>>29443156
Now factor in that real wages have completely stagnated and are actually dropping.

>>29431159
you're right to think this way, but boomers like banks and love incurring additional debt. i don't get it either.

>>29432122
>ban foreign entities from buying land
>zero immigration, all mexicans/south/central "americans" forced out
>jews forced out
>can only own land/houses you live on/in

>>29432457
And 5 million will get you a month of groceries with hyper inflation, so what?

>>29439240
Good suggestions, anon.

>>29432457
Comfy. I used to love laying down on soft carpet and having a huge whole-body stretch deciding whether to nap or keep watching something

>>29430749

Literally one of the best markets in the country and it’s STILL only a ~12% annual return. Plus upkeep and it’s probably more like 8%. Equities would have been a better return and you wouldn’t have needed to get lucky picking one of the top markers in the country. Just literally buy index fund

my dad sold his for 80k in like 2000, and it sold for over a mil a few years back

>>29434110
I'm only mildly pissed this country is getting stolen in plain sight legally. I'm more angry that if I called it like it is I'll get called a racist and shunned from mainstream society

>>29433344
Same here in MA. And they ALL have the last name Patel... spoiler alert, that isn't really their last name and basically means "merchant"

Houses can only get so expensive before people will buy further out.

Also, as long as there is a place called “east of the Mississippi”, you can find affordable housing if you’re poor af

>>29432782
similar to canada. only reason I was able to purchase a home is because I come from immigrant wealth so I could get a 0% interest loan from my mom. in 6 months the houses in my city appreciated by 20%. Literally saved 100k doing this in 6 months

being poor costs money

>>29434635
Because China is hitting their golden age, just like the America pre-"death of a salesman". If you can sell a single pencil to every Chinese school kid, you are rich enough to retire.

>>29446082
People bitch about real estate blowing up and how the profits should be socialized, but they wouldn't lift a finger to help you if the housing market crashed. Fuck em.

>>29435359
ah yeah that 18% mortgage on a $22,000 principle must have been really fucking hard for them. Refinancing too? never even heard of it

day of the pillow soon grandpa

>>29446202
I agree, but does always seem like China is one step away from the People's Government seizing everything and reinstating full communism

>>29446345
oh for sure, I don't give a fuck. I'm canadian but as soon as it's profitable for me to leave I will leave. I plan to own property in foreign lands.

you snooze you lose. It's a tough world out there.

>>29435359
BS desperate boomers are jumping into reverse mortgages to continue booming and pretending inflation will never happen

>>29430749
>only a 13x
Kek I can do 13x in a few trades on shitcoins

>>29446571
yeah but can you do it on 20x government insured leverage into an asset that you do not have to pay capital gains tax on? welcome to canada

>>29430749
That's an annual appreciation of 12.4% every year for 22 years by the way.

If you consider that the average annual stock market return per year is 10%, then it is fair to say that home-owning Boomers essentially got two retirement accounts. They made 10% every year on the stock market, and 12% every year on their homes, and these fucking faggots did it when you could get into a decent paying job without a degree working in a factory, or if you were white collar, go to some state school then shave, put on a white shirt, walk into the managers office and give a firm handshake, then get salary and benefits.

I hate these fucking BOOMER pieces of shit. They got everything. They sucked this country dry

>>29431084
>walla

>In order to own land in this country, you must be a permanent resident who resides in the country for 50%+1 days of the year minimum.
>You may only own one house per houshold, and it must be occupied by someone listed in the household census for 50%+1 days of the year minimum

This wouldn't be a perfect solution, but it would make a huge difference in the housing market immediately. Firstly, you have to live in the country in order to own there, and this would have to be proven in some way or another. Secondly, this would prevent people from owning multiple properties and renting them out. If you list your spouse and child as part of your household, then you only get to have one house -- that's it.

Your kid moves out at 18? Well they can have their own house, but they must also live in it.

>But muh COTTAGE!!!!!!
Sorry guys, I know your boomer parents love their cottages, and Im' sure you love going there on May 24 with the boys, but this is how it's gotta be. While your parents didn't tip the scales with owning a cottage, it contributed and started this mess.

Ultimately, people should not own homes that they do not live in and occupy. Property should not be treated as an investment. And housing being allowed to be treated as an investment has FUCKED our country's housing markets and priced out entire generations.

>>29446651
>I hate these fucking BOOMER pieces of shit. They got everything. They sucked this country dry
oh yeah definitely the fault of people who bought and hold like sensible investors.
definitely not the fault of people throwing their money away on defi ponzis.

>>29432122
Stop private equity from buying up a fuck ton of foreclosures and sitting on them for 10+ years. If the property isn't being rented or lived in for that long, it should be auctioned off as affordable housing (no big wigs/firms allowed).
The other steps already listed would help, but private equity firms are the main problem.

>>29436538
>>29438260
All the boomers will deny responsibility for this too. When you point out how they agreed to the utter rape and desecration of this country in the 80s and 90s, they will simply say that "they told us it would be a good thing."

They told us it would be a good thing.

That was the extent of their thought process. Some faggot on the television told them it would be good and everything would be ok, and they simply believed it.

>>29444900
I can't live in an index fund you fucking faggot.

>>29430899
Diversity tax at it again.

>>29432385
Only accessible by ATV.

>>29431084
>democrats control the banks
do magatards really

>>29431084
Nigger Trump made it so banks dont need any collateral to print money when the stock market crashed, the house of cards doesnt even have a foundation anymore its floating in thin air.

>>29437169
Nah it's less than the police misconduct lawsuits

>>29444900
>dude it's only a 8%-12% return
Because that's what matters, raping the next generation for the max amount. It's over 1 million dollars you stupid faggot. Outrageously unaffordable.

>>29446909
You know your generation pillaged the accumulated wealth of several generations.

The good news is you'll die choking on your spit in some assisted care facility, while a "nurse" who speaks broken English looks on.

>>29446514
I would fucking slit your throat in minecraft after following you home in minecraft the video game if you told me this in minecraft

Prices in my area have gone from $500,000 to $1,200,000 in the past 5 years.. Single bed apartment rent has gone from $800/month to $2,300. Explain why I shouldn’t join Antifa?

>>29448049
Because antifa fights to continue this cancer you fucking idiot.

>>29432122

>>>>>/trv/1961315

This /trv/fag raises a good point.

>>29430749
I dont want to live in the slums bros....
I dont want to be Brazil.
That's why I have to make it.
I can't get out with a job.
I have to hit the green candle lottery.

>>29448519
based, you're gonna make it

>>29448519
This other /trv/fag raises a good point for you.
>>>>>/trv/1960771

>>29447347

>>29448714
there's a much shorter and more concise word pal

>>29448340
What’s the solution then? To just sit back and take this? And before you give me this pull yourself up by your bootstraps advice: I had done everything the right tells you to do. I went to school only when I could afford it. Joined a profession involving technical knowledge (avionics technician), not lib bullshit profession. Worked hard for 4 years trying my best to save my meager $60,000 salary while getting fucked by rent. And yet here I am, now jobless from a pandemic, while housing prices continue to skyrocket. If not join the anarchist, wtf am I supposed to do??? I’m going insane getting fucked by the system.

>>29447416
Trump was a blackpilled accelerationist

>>29446909
>t. beanie baby bagholder

>>29439240
>An individual can only have one residential property registered in their name
But how do I move my shit from one house to the bigger house I just bought?
https://www.youtube.com/watch?v=zpjklLt1qWk

>>29436079
threaten them with violence they'll give in eventually

>>29430749
This is why we shitcoin. Fuck a house. Gimme KLEROS.

>>29449297
Special transaction for moving, ez

>>29449170
Game over sorry. It’s like getting into crypto in 2021. You missed out. Now you need Hail Mary investment or lottery win to even live a normal life. If I were you I’d buy a van to live in until society completely falls apart. Maybe find an abandoned house to squat in. Sorry fren

I hope it's in the suburbs

>>29449659
I have enough guns to take a nice property from stupid rich boomers if things get that bad.
But they won't get that bad.
Because there would be something good about things getting that bad and good things never happen.
We will exist eternally in a state teetering on the edge of collapse but still functional enough to prosecute people with our increasingly militarized police force.
Everything will get worse but it won't fail catastrophically.
The nightmare will just get worse.

>>29430848
Immigration anon, immigration. That's all.

>>29432122
carpet bomb china with nukes and round up all chinks around the world

>>29430899
get rid of (((zoning))) laws and let the free market actually decide the housing prices. but no, boomers don't want medium or high density housing to be build in their neighborhoods because then their property values might not go up 20% a year.
look at Japan, the population density is much, much higher than the US and yet if you go outside Tokyo by like ~30-45 minutes, you can buy a house with land for ~$100-150k easily. not even an old rundown place, something built in the last 40 years that's already been renovated.

>>29450086
nah overpopulation. I hope US starts mandatory abortions.

>>29450562
how exactly are these unrelated

>>29450029
There is always a breaking point. It’s dangling by a thread

>>29450371
I don’t want renters even 3 miles from me. Renters are terrible people for the most part. Give them some mega Russian style high rises downtown away from white families

>>29450864
I seriously hope it breaks as soon as possible.

Anyone buying a house right now is getting scammed. There is literally no reason to buy a house at these prices. Just rent or live with your parents or live in your car. Buying a house right now it like buying bitcoin at 58k

>>29440719
These chinks are fucking retarded. People act like they are winning when they are largely going to be the ones who get ass raped by this ponzi scheme in a few coming years. Anyone not selling their house now is a moron just like anyone who thinks bitcoin is going to 150k this year

>>29431639
Impossible to build your own house here (Denmark), infinite rules and regulations.

>>29451313
>buy a new house
>keep some debt on books bc inflation makes your dollars worth less
>rates raise prices fall
>depreciate the house bc now its x amount of time old and needs repair
>"fix it"
>sell for more money
>1031 into something else
why isnt this a genius tier idea you get the asset for free and if you lose then youre stuck with property and can right it off as a tax loss

>>29451537
You will also be endlessly paying for the property through taxes that will almost undoubetedly continue to increase as federal and local legislators lean further and further shitlib.

>>29434635
Used communism akin to fast castle strat in age of empires 2

>>29451597
ah shit I didnt even think of them raising taxes

>>29430749
>>29430899
Allah, the creator of the heavens and the earth and all that is between: it is He who understands macroeconomics better than you or I ever will. That is why he forbade usury, both the paying of it and consuming it. Nothing caused these economic circumstances except the criminals who peddle cheap leverage, and the criminals who are proud of their low interest rate mortgages, thus wronging themselves and the rest of society.

This and many other reasons are why it is best to submit to his will, not our own whims and desires which lead to destruction.

>>29450371
>high density housing
'round here we call 'em nigs

>>29447416
I honestly believe this would have happened regardless of who was in office.

>>29432122
you can't; greed exists

>>29431637
My parents are Gen X but they're more boomer than my grandma who isn't even technically a boomer. The only real problem about boomerisms is that we're constantly going to have to deal with this shit until boomers die out as a generation and their death grip on the government finally lets go into the grave. Its going to be wild owning crypto in the future where crypto has more of a use than the regular fiat paper money bullshit we have now

>>29447019
You get dividends to pay your rent idiot.

>>29432457
Perfection

>>29431557
>People with backyards today may even one day be able to make a killing by building shitty McGuest homes and selling fractions of their .25 acres of land.

This is already happening in the UK - they're called 'infill dwellings'

20 year old with 30k in the bank...should I go back to college or work another year and buy a house in the midwest (it's doable). I'm worried college will set me back too much. you guys are good with money whaddya say

I've owned a home for about 7 years now. Bought a fixer upper, in about 1 more year, it will be complete.

I'm so ready to sell it for a profit and go live in a RV. The upkeep and stress from owning a house is just not worth it. I can take the money from the sale of my house, put it in an index fund and not have to work again.

>>29452987
>30k
>in the bank
>on biz
ngmi

>>29431322
>>29431345
It's gonna be less people. Not more.
>>29431346
YES
>>29431159
It's what you're forced to do.
>>29431441
>>29431557
Somewhat, but no
>>29431773
Not the issue
>>29432122
Kill rotschilds and all illuminati-ish people
>>REAL ISSUE
The real issue is the fact that nobody realises, that the most powerful people in the world are keeping us at bay, as obedient, hard working wagecuck slaves. We are being mass controlled by them. The laws, the market, the prices, the inflation, now the pandemic, it is all controlled by people, that want you to be their obedient little pups. Now this sounds like a conspiracy theory, but consider all the facts, DYOR, check how much tax pay rich, and how much the poor. There's all these signs. All the reporters trying to make an article on those mysteriously die in car accidents or disappear. This is not a novel, it's our reality
>>WE ARE ALL SLAVES.

>>29432739
literal "cuck sheds"


cucked by boomer landlord


and he fucks your girl too

>>29430975
find a job that pays 500k a year I'll wait

>>29453054
ill put it in vanguard or fucking boglehead whatever idc

>>29431639
you know how I can tell you don't get laid?

>>29453192
how?

>>29447011
Its actually astounding what boomers as a whole did. No other generation gets a free pass to be complete and utter irresponsible retards that are not at fault for anything ever.
>Gen X is apathetic about everything and that's supposedly a bad thing in a world of shit
>millenials are all politically extreme because the system is inherently broken and the boomers just can't figure out why as the nation quite literally burns
>zoomers are all autistic memelords that don't even engage with society in any meaningful capacity since we're just crawling around in the ashes at this point

Boomers committed crimes against humanity on par with the soviets during WW2. I firmly believe boomers don't have souls because to have a soul you would have to have some sort of self awareness of what you're doing. When all those old demons finally die out, we're gonna write down in the history books on what NOT to do to a civilization

>>29432122
1. Foreign investment needs to fucking stop. Immediately.
2. Tax the ever-loving fuck out of speculative investors
3. Fund projects to build more homes and use land more efficiently

We all deserve a decent fucking place to live. Fuck these boomer's retirement plans and greedy chink investors.
They can speculate elsewhere; not fucking piss away our opportunity to own a home.

>20 years for an x13
Not that impressive desu. Real estate only goes up, yes, but its growth is too slow compared to crypto. Plus, in my country, if you try to run landlord game and rent out property then you're taxed a lot. It's an investment for boomers

>>29434635
Capitalism "raising people out of poverty" and into your neighbourhoods.

>>29453093
no one who talks like this knows how to make money in the current system.

>>29434635
>didn't half them die in a famine like 60 years go?
Raised the per capita wealth of everyone else in the country by 100%!

>>29432122
Well I can't speak for every country but in Australia,

>Make rental income losses only deductible against rental income profits, not deductible against all other forms of income (but losses can carry forward to future years)
>Reduce the capital gains discount from 50% to only 25% on profits
>Tax foreign individuals who directly own property quite harshly
>Ban ownership of Australian property by Chinese institutional investors
>Keep the lending requirements as they are with the post GFC reforms intact (as opposed to loosening them to revert to pre-GFC laws, which the Government wants to do because they love pumping property prices)
>Remove subsidies to the construction industry (First home new build grant, COVID renovation grant)
>Remove stamp duty/transaction taxes from properties outside of major cities (Or rather have it be a sliding tiered scale depending on location)

But you know what would be the biggest single solution to fix property prices?

>Abolish central banks setting the interest rate and let the market decide interest rates so that It is not artificially forced lower so that central banks can pump up bubbles in an effort to try and stave of naturally occurring recessions

Property is literally the only sane way to turn relatively nothing into something
Stocks, crypto, and trading are for fucking retards
Work your ass off for a few years, save money for a deposit, get a loan and develop property
Helps if you have building and construction experience and are familiar with areas in your city

>>29439240
literally this.

>>29430749
I bought in 2017 for 45k, with an FHA loan, 1400 down. 7k all together, lawyer, taxes, fees, etc. Now worth 50k. Teal estate is guaranteed profit if you hodl and dont buy a bubble

>>29455240
Up 50k, worth 100k i meant

>>29455029
>Stocks, crypto, and trading are for fucking retards
what are you even doing here? crypto is so much better than real estate, you are missing out boomer

>>29430848
Governments invited millions of 3rd worlders and also allowed foreign investors to buy property.
So wages stagnated but house prices exploded.
This makes MUH GDP look great though.

>>29455422
You are actually better off becoming a professional poker player. Your chances of making real money are higher.

>>29453192
The gonorrhea in my dick would like a word.

>>29455422
>FRICKIN MATH BROS!!!

>>29455240
You could've bought Bitcoin in 2017

>>29430899
well people need to live somewhere. But now only investors and foreigners can buy real estate, end of middle class

>>29431639
this

>>29432383
THIS. you could also heavily tax it.
some enlightened anons, here.