/biz/ - Business & Finance

>>3825345

Because they assume we can all afford houses.

What they don't realize is that house prices have fucktupled since their days, AND wages have largely stagnated.


TLDR fuck boomers

how long till the housing bubble collapses? I want a cheap home

>>3825345

Baby boomers are a waste of money, and are good at wasting it.

>>3825345

It is a waste of money. Doesn't mean it's feasible for most of us to avoid it.

To put it in perspective, niggers live in gubbmint housing so (((they))) invented furniture rentals to get a cut of those sweet welfare checks. If niggers weren't so poor, they would just buy couches and chairs and tvs and save money in the long run, but they don't because they're too lazy and high.

Apartment/house rentals are the same thing for white people.

>>3825345
>sign for public college
>ask for a free home
Profit ??

>>3825368
This. They're shortsighted and crippled by a lack of perspective.

>>3825686
found the eurokek

>>3825728
Sup my burger friend

>>3825345
Because instead of paying rent you could be paying a mortgage, which would get you ownership of the home you're paying for instead of paying the mortgage+profits of the property owner. Even if you're in a shitty house that you don't want to stay in, when you're ready to move to a better one you can sell it and recoup much of what you paid to live in it, giving you a boost toward ownership of your next home. But if you're renting then that money is just gone forever.
Basically, if you qualify for a mortgage in a home you'd be willing to live in, then paying rent is equivalent to giving your money away.

It's actually cheaper to buy a house than it is to rent one.

You can also sell it to get a return on the investment if you don't want it or can't afford it anymore. How much of your rent money will you ever get back?

>>3825844
not much, being obese

how about you?

>Buy house with FHA loan
>rent out spare rooms
>pay less then renting your own place
>appreciating asset
Seriously, with an FHA loan you can get into a house for under 2 btc.

I'm renting from an old lady that bought at the lows of 2012 and she is passing on the savings. The rent is cheaper than a mortgage and I don't have to worry about repairs I love it. Of course boomers think we are lazy but don't realize you can't buy a home for 20k cash anymore. fucKing boomers, I even show the chart of 4x price increase vs wages and I just get a blank stare followed by "when I was your age we got by with 1 car and didn't spend so much money that's how we were able to buy a home you lazy mellinial!" Oh fuck you! 40k home with acerage is now worth 600k.

>>3825345

they never did the math to realise that after the decades of interest, taxes and maintenance bills they would have been better off renting in most cases regardless of the increase in value

It depends entirely on you individual circumstances whether it's a good move or not.

Paying 0 down on a 30 year with a variable interest rate for example is idiotic.

Paying 20% down on a 15 year with 3% locked interest is bretty gud.

If you can rent a nice place that allows you to live a good lifestyle at a time or place when you're priced out of purchasing smartly you shouldn't.

People also don't factor shit in like PMI, Insurance, Taxes, higher heating/cooling bills, and general upkeep cost into home ownership. Although tax incentives make that mostly moot.

>>3825902
what if prices go down you stupid fuck

>>3826385
Housing prices usually come back up pretty well unless your shitty city dies. Even then, it's really just a big dip. In terms of speed, housing is the opposite of crypto.

>>3825345

Because it's true.

>>3825345
>why do old people say this

Because it's true. If you can afford to buy, and you're renting, you're literally just pissing money away. Home ownership builds equity, renting does not.

>>3825368
>What they don't realize is that house prices have fucktupled since their days, AND wages have largely stagnated.
>>3825695

You guys do realize that mortgage interest rates have fallen accordingly, right?

>>3826856
Banks give x amount of income as a mortgage. Good luck with buying a 600 000 GBP flat in London with your 60 000 salary.
X= max 4.5

I probably couldn't afford to buy where I live due to the lifestyle I live and I live that lifestyle because of where I live, if that makes sense.

I really don't mind wasting money for a few years of fun.

So economically while it's not smart, not every decision in your life has to be, but this is /biz/ after all.

>>3826906

Stop trying to live in an area your income your income doesn't match, derp. Based on that logic you might as well whine about not being able to afford a house in Hollywood.

>>3825345
Because overpaying to pay off someone else's mortgage is fucking stupid.

Move overseas and don't look back

it is legit cheaper to rent than to go seven figures deep into debt
ill buy when the housing market crashes like a smart goy, not a good one

>>3825345
they do not realize the opportunity costs. if they had invested in good stocks instead of buying a house they would be settled millionaires and could have rented nice flats till there is enough money to just buy a house without debt

>>3825345
It wasn't a waste for me... got a house 4 years ago, just sold with $80k net profit.

I was renting a small apartment for $1300/month decided to buy a house and pay $1500 mortgage. So over the last four years I paid an extra $9,600 in payments, but made $80,000 when I sold. Seems like it was worth it to me.

>>3827012
lolno. I mean, right this second that might be true, same for people buying homes in 2006-07, but if you bought a house in 90% of the country just 5 years ago, you easily outperformed the NASDAQ after rent is factored in.

>>3827063
are you stupid? i said good stocks
i made so much money with netflix. google. apple. samsung.
super easy gains

>>3826856
That's not a good thing
If all mortgages were 0% apr, what do you think the prices would be like?

You do not have to be a smart person to realize the housing "market" is a huge ongoing disaster for anyone who isn't renting their property.
QE NEEDS to end and it needs to end soon. Bring on the crash I am ready as FUCK
Lazy greedy boomers can rot in hell with their multiple properties (the equity and income from which, realistically, is a government handout)

>>3825902
>>3825910
So, as someone who lives in the most expensive countries in the world (Australia) and in a city where the median house price is 1 million dollars and i need to have a 5% deposit. ($50,000 plus extras) Please continue to tell me why renting is so bad and how easy it is to just "own your own home" and why thats better.

>>3826927
you make it sound so easy to just move to another country and buy a house.

>>3826931
i wouldnt say its cheaper long run, but it is a lot more cash flow positive to rent.

Why does everyone just assume that it's so fucking hard to move overseas. If you have a passport from a 1st world country it's fucking easy. Have a fucking look before just assuming it's impossible

>>3826917
that makes so much sense and I'm in the same exact situation enjoying my life. But most of the people here on /biz/ would rather live in bumfuck nowhere than to properly live their youth because
>MUH equity

>>3827144
What's the best and cheapest place to move as an American?

>>3827144
Where? Will consider moving if worth it.

>>3825345
they want us to buy their bags ATH cunt... ignore them

>>3827151
Houstonfag here. 4th largest city in the country and average home price is around $220,000. There are homes in decent areas for much cheaper though. My house is around ~$110k and the neighborhood is in the process of getting gentrified. Other cities in Texas have decent prices, too. There's a lot of good deals in America that aren't in bumfuck nowhere, just have to be smart about where you buy.

>>3825618
Please go back to pol

Low iq inbred

>>3828276
>comes to /biz/ expecting tolerance and progressive values

If you want love for your nigger, spic, and women's studies buddies, you'll have to go elsewhere, anyone even a bit into finance and money-related matters sees how things work better than /pol/ does. If you feel sorry for niggers instead of seeing them as a possible profit source, finance isn't your field.

>>3826385
depends on what prices you're talking about.
You can get what's called a fixed mortgage, and pay the same price throughout the process, or if not, you will be paying less for the house.
If you're talking about the general housing market, the prices have always come back up. That's why investors look at real estate as a safe investment, and it's why "boomers" see real estate as a smart buy.
We're at an ATH in the residential housing market with the current administration, and most people are looking forward to the continuing rise. Unless the jews at the Fed keep trying to fuck with it.

>>3828276
you're the one who doesn't belong here. biz is a greedy ancap\wannabe technocrat flavour of the best and the brightest of pol

>>3828660
niggers contribute very little to the economy, the only people who benefit from them are politicians looking for a vote, and maybe one or two wealthy funds that invest heavily into low-income bonds.

If I can buy a house outright should I? Assuming it's a fifth of my net worth.

>>3828276
this is bait

>>3825345
It's correct, though. Spending money on something you will never own is a waste of money no matter how you look at it.

Now that doesn't mean that you should just live out on the streets instead of rent because you can't afford a house. You're better off renting than you are being homeless, but it really is a waste that you should have to rent in the first place. Ideally you would spend your money on something that you can own, something that you can sell in the future for a net profit. But of course we don't live in an ideal world, and most people can't afford a house.

>>3829559
Depends on the neighborhood, but the rule of thumb is to have 6 months worth of living funds arranged to back you up on your investment.
I would say yes, buy it.
The problem is whether you think the housing market will continue to rise. If push comes to shove, you can always move into the house.

>>3825345
Clearly choosing the thing that costs more money after all is said and done is the waste of money

Live in Manhattan, rent is $3k/month for a shitty studio.

>>feels bad man

>>3829598
I'm talking purely in terms of living in said house. Not as an investment.

>>3825943
Pretty much this although I prefer to live in my parents house (4.3K sqft McMansion). When I find a rental property ~400-700K I feel like buying, I might move out for a bit until I can rent out the last unit.

>>3829616
how do you like living there?

>>3825910
WRONG. Not necessarily so in many cities these days.

How much of the interest you pay to the bank will you ever get back?

>>3829634
Depends on the market.
Housing prices in some parts of the country are still shit, even if the national average is high.
What city do you live in?

>>3829616
Why the fuck would you live there? Unless you are on huge amounts of money it makes zero sense.

>>3829642

I mean it's the best city in the world, and salaries/opportunities more than make up for the high cost of living

People are never home anyways, so having a shitty apartment doesn't really matter. It's just a place to sleep. Don't really need kitchen space either because everyone eats out for pretty much every single meal

>>3829681
You live like a transient then?
Horses for courses.

>>3829676

I'm not on "huge amounts of money", but it's well within my budget. Thanks for the concern though.

>>3829690
Sounds like you're there for the wrong reasons.
$36k per year to live in a bedsit is fucked in the head.

>>3829559
I advise against it. A house is a consumption expense past the point that you need to live. For example, if you buy a 2.5K sqft home instead of a 500sqft studio you are burning your money. You will spend more on maintenance and property taxes than you can ever hope to earn from appreciation in the long run (houses typically appreciate 1% over inflation), so you are basically losing if annual property tax & maintenance are >1% the value of your home.

Not to mention transfer costs of 6% are typical in the realtor industry and up to 2% for writing a loan/refinancing may be levied.

All this considering you are buying in cash. Now add in interest expenses for a loan and the insurance you may be required to buy and you should realize you put yourself in a losing situation.

All of this is exactly why I refuse to waste money on a personal residence. I will only borrow/buy to rent to wagecucks.

>>3829717
This. Owning a home is way more costly than renting. Sure you get an asset but it won't appreciate quickly enough to outweigh your expenses with property taxes, insurance, possible HOA fees, etc.

>>3829704

The job I have here pays me 75k/year more than I would make anywhere else, so the incremental $18k/year I pay in rent is a write-off (assuming $1500 rent for a nice one-bedroom elsewhere)

You fucking pajeet

>>3829779
I'd like to interject and add that buying a home is not necessarily the worst idea if you don't spend more than you need to, although the home market for <1K sqft homes is very limited.

Homebuilders just don't make much of a profit on that shit unless they rent it out.

You are better off living with your parents than living with niggers or being cucked by some restrictive HOA.

When you have a wife and kids and shit, and need 2-3 bedrooms, then it might be worth moving out, although I don't have plans for that. Not to mention, you are fixed to the location so you better have a house near the city.

Buying a home is one of the best investments you can make in the United States. Even if you live in a piece of shit city with 1-2% appreciation each year, you've got a tangible asset that you can use to produce income for yourself (rent out). Having said that, my mother bought a house back in 2014 and has jumped over 20% in appreciation since that day.
That's why I have said multiple times in this thread, it completely depends on the market that you're in; as real estate is very much heterogeneous and different throughout the nation and determinate on many different factors.
So, saying real estate is bad in spot A, doesn't mean it wouldn't work in another area or city.

I know several single people that have bought their own 2-4 bedroom homes. They rent out rooms to their friends that don't want to deal with the responsibility. It works to all of their advantage. Home owner gets extra money each month until it's paid off and the friends get a cheaper place to live than they would otherwise if they all rented an apartment individually.

>>3829717
Are american houses such a bad investment then?

Where I live, an old house that you renovate yourself is the best investment you can make.

>>3825368
ya its fucked up, my dad isn't delusional enough to think things are as easy now as the were in his day but he still tells the stories about fully paying off a 3 bedroom house in like 1980 in under 8 years or something with him being the single earner while my mom was the homemaker.

Pretty insane when nowadays most people can't pay off their mortgage in 30 years and that's with dual income household.

I honestly wish I was either born 30 years earlier or 30 years later. Back then shit was easy mode if you weren't a total retard, and being born 30 years later I'd likely get to experience all kinds of improved technology. Now I'll be near death before I get to see anything really cool.

>>3829937
Sure, but in general prices fluctuate. Your property might increase by 10% a year or fall by 10% a year. You cannot count on that. If you could, become a real estate investor full time, you will dominate the market.

It's a logical fallacy to justify appreciation in a small time frame as an investing decision. Sure there are merits behind momentum investing (prices tend to increase in 6-12 month period when they increased the year before), and fortunes have been made but when demand for housing plummets you may run into issues with liquidity and financing that will be detrimental to your overall performance.

I want to buy properties that make money and don't rely on appreciation. There needs to be a margin in safety so I can cover expenses and still make money in recessions. When you buy on this basis, you can baghold a depreciating asset and still make money because it still holds an intrinsic value.

Now if your property appreciates, then you can sell it if there are better alternatives that generate more cash. You can win in any market.

Now I know you may say much of property doesn't fit all the strict criteria, but giving up some appreciation is worthwhile because of the fact that you aren't forced into making irrational decisions when the credit cycle tightens.

Buying a home is a good idea, but don't sit comfortably in hot markets.

>>3830126
Not necessarily, it's just that most people overpay for bigger houses than they need because of financing they receive and don't derive maximum possible economic benefits with their money.

>>3830141
Well wagecucking has suffered because of immigration and outsourcing in general.

The people who pay off their houses in 8 years are self employed or business owners. In fact, my parents paid off their first home in ~10. Protip: they weren't wagecucking.

Because house prices are going to keep rising to infinity, everyone knows that, you should buy one asap.

>>3830141
>Pretty insane when nowadays most people can't pay off their mortgage in 30 years and that's with dual income household.


LMao pretty insane how retards like you outspend your budget and wonder why you're poor

>>3825345
My dinosaur grandfather who bought houses his whole life, always tells me he thinks renting is cheaper in the long run. He's just a control freak and needs to own the property he lives on.

ITT: excuses and coping with being a loser

Don't bother replying. Arguing with a bunch of people with victim complexes is a waste of time.

>>3827012
>if they had invested in good stocks instead of buying a house they would be settled millionaires
I don't think they let average Joe buy stocks with 5:1 leverage

>>3826856
>If you can afford to buy, and you're renting, you're literally just pissing money away. Home ownership builds equity, renting does not.
What if i like having the freedom to move wherever I want whenever I want instead of committing myself to 10+ years in a single spot or trying to find someone to buy my house bags from me?

>>3830214
Indeed. The reason people can't pay off mortgages in 30 years is because banks are able to lend higher multiples of housing price compared to income and people are generally encouraged to spend like niggers.

>>3829785

So basically, you're in Manhattan living in a glorified closet because you're a self-conscious faggot.
New York is a disgusting kike shithole. Don't kid yourself.

Guess you semi litterate 'Mericans really do love being in debt all your life.

>>3826035
stop buying 15 dollar cocktails and you'll be able to afford a car and house faggot.

>>3830380
Don't even bother, most of them can't read a full sentence in English.

>>3830182
>tfw when parents paid off an 80k 3 bedroom home near a big city

>>3830380
Explain what is wrong with debt.

>>3825345

ProTip: Buy the house and make other people pay rent for it.

ProProTip: Make the renters pay for your electricity too while you mine shit coins.

>>3830551

Oh and before you ask how? My parents live in the basement of a house that they rent to other people upstairs. The people living upstairs pay for the mortgage so they just live there for free after taxes and utilities.

>>3825345

They're old and don't realize they they pillaged and plundered the fuck out of almost everything and left us nothing but debt.

They think paying a mortgage is anything other than paying rent to Jews so they can pretend they """bought""" the house.

>>3825385

2019 at the latest. Peter Schiff and Mike Maloney get a lot of shit on here, but they're right about the coming crash. Multiple bubbles forming, and the problems that lead to the 2008 crash were only papered over, never resolved, so that pent up energy is gonna hit too.

I love it. Maybe some positive shit like a civil war will break out and the separatists will will this time.

>>3826921
shut the fuck up you fucking retard

>>3830208
The normie goyim eat that shit up. Just like the normies here that invest in shitcoin only when they get hyped.

>>3825345
hi sir if you do not want to rent shitholes anymore sir buy metaverse and the doors of a new life will be opened to you sir very handsome future for metaverse hodlers

>>3830147
Nerds like you never make any money.
Go work for the post office.

>>3829937
20% lmao
mc donalds stock grew faster

>>3825385

> Cheap homes

Go to Detroit nigga.

>>3830529

You give your creditors power over you idiot. If americans didn't owe so much money to the banks they wouldn't have been too big to fail, you could have bought those bonds for pennies on the dollar, but instead they got to sell them for their full price and you were cucked out of some valuable assets.

>>3826385
Boomers literally don't believe this can ever happen. Gov't will prop up prices if it does.

>>3828276
/biz/ is now /pol/. After we all reach lambo land we will return it to its original state.

>>3825618
All the /pol/ favorites in one post

>>3825345
>proud to be a cuck and pay for my houses

I bet you hate coins too, it's okay one day we'll let mcdonalds workers get mortgages

>>3831004
>buy 300,000 dollar house
>be worth 350,000 in 2 years
Do that with stocks.
You can't live inside a brokerage btw.

>>3833134
I understand a lot of you are literal shut-ins from the suburbs, but if you actually had to deal with trash and niggers out there on the streets of the United States, you'd be racist too.

>>3833134
spot the cuck

>>3830961
My parents follow similar advice and have been able to amass a fortune have fun gambling while we continue investing.

>>3833151
dude this was a joke
was an example of lame performing stock
i made so much more
boomers out

>>3830364
People who hate manhattan all secretly would like to live there but cannot afford. Same thing people who hate supercars will be the first ones to drive them the moment they won a lottery

>>3825695
The funniest thing is boomers are fucking awful with money. I love my parents and all, but they have absolutely no money ever sitting around. They couldn't save money if their life depended on it.

>>3833247
i wanna live in tokyo rather than new york tho

>>3833207
you're over complicating it.
I've done all the technical analysis in the past, and real estate cannot be foreseen.
The only thing we know is that it's at an ATH right now, and that the last administration fucked with the national debt.

>>3831482
That's not how it works. You sound like you just have a grudge against the banks.

>>3830551
>buy-to-let

Literally cancer. Fuck off

>>3830672
Hes right you fucking retard. If you can't afford to live in an expensive city, fucking move. They're expensive for a god damn reason.