/biz/ - Business & Finance

its desperate rentoid uber cope

they have accepted that they are too stupid and impulsive to save for a down payment so they try to meme a crash instead

We're at the very entrance of a financial crisis. Your sole priority now is to ensure that you don't lose your job, so that you won't be laughed out of the bank when you ask for a mortgage near the bottom.

I got a mortgage back in 2011 and the banks were incredibly fucking strict when it came to who they were willing to lend money out to. At the peak in 2007 and the peak this time they were thowing money after anyone with a pulse, but when things are uncertain and credit is tight, they will reject you if they think the odds of you losing your jobs are above 50%

Also CFL here, bought my house last year and loving life. Used to live in East Orlando paying $1300 for 711sqft. Paying that for a full size house now lol.

>>49721486

>it's just like 2008!

>>49721456
Retarded hoomer, he is renting and asking if the priced out doomer shit is a fantasy. And lol at some retard who bought the top calling other people impulsive.

>>49721749

case in point, desperate zoomer projecting his youth onto others, my house is now 5x the original mortgage value, maybe I'll sell it your grandkids after they grow up resenting your retardation

>>49721877
We will find where you live and we will euthanise both you and your family. Enjoy it while it lasts parasite, no matter how many guns you buy you will never be able to hide.

>>49722004

case in point 2, literal mouth foaming communist gets blood red with rage after learning people can own things

>>49721598
Fed is unloading MBS through QT and MBS failures are up something like 800% in just the past couple of months. I own my home outright so I don't care but if you're a top buyer you are getting smoked. Just don't try to dupe others into becoming top buyers with you

>>49721877
>I try to help a retard by pointing out the error in his reading comprehension.
>He larps and copes
Enjoy your fantasy

>>49722176
So would it be wise to wait for prices to drop (if they drop before the year ends)? What about the talk of interest rates shooting sky high?

>>49722459
High interest rates will crush asset prices, but the dominant theory is that the Fed will begin to lower interest rates once their objective of curbing inflation has been achieved.
If I was a first time buyer, I would have waited for high rates to wreck the markets, then when I saw that the Fed was beginning to lower rates again I would swoop in and buy a discounted house with an adjustable rate.

There's not a certainty that things will play out exactly like this, but as of today it seems highly likely. And like I said before, your number one priority should be to ensure that you don't lose your job when layoffs begin

>>49721391
>Give me 100 dollars.

>>49721391
Well you can't have Hyper inflation plus housing collapse at the same time? One of those things is going to have to give.

>>49721391
Central florida realtor anon here. Your plan sounds sane, you'll be able to find a good deal in December. Keep your credit score high and keep atleast 10% downpayment ready.

>>49721512
As someone that grew up in Tampa, and moved to PNW. I'm sorry. Orlando is total shit.

$1300/month in Kirkland 4/2 house :) enjoy Orlando hell.

>>49723976
how's kirkland?

Seems like a pretty shitty suburb w lots of traffic from i5.

>>49724156
I'm off the bike trail, I own a car but I never drive anywhere, I bike, daily, doesn't matter if it's 55F or 75F+. I bike daily, 60 miles, and aim for a century on the weekend. 2-3 hours daily if above 55F, if under, I don't bike usually.

Gas is 4.95 at costco, 5.40 everywhere else.

Food prices are cheaper than Florida, surprised about that too.

Costco is great, I make cliche jokes about buying the house in kirkland because I saw it from Costco.


Sea-tac airport is far, no public transit sadly, but same in Florida. I can take an uber for $10-15 to the nearest link (MRT/train) station and get to the airport there free. There's going to be one built though a few blocks from me 2028, so that's when I'll hit excess of a million and I bought this place for mid 600's.

Powerbill is $50/month, cheapest electricity cost in the nation. All Hydroelectric. Having a house in FL in summer was consistently $200+.

Insurance is $30/month, floodzone and crap in FL makes it $200/month.

Only thing here is, you reap the cost savings after significant price discrimination. They can't discriminate against anything else, but make the prices high, so it's nice. No niggers, unlike in Orlando.

No HOA, I just find it ironic you say it's shitty suburb, while living in an ORLANDO suburb,

hurr drr
>i4, highway of death. I used to enjoy going 95mph+, but lately 60mph on highways on i5, and zipper merge and slow is nice. I also cheat and go in the HOV lane as a single person.
>the mouse controls politics, fuck disney, tourism controls politics, not bad but also not great - I never liked themeparks.
>everyone thinks it's some american summer paradise in FL.
>While I'm euro Spanish, I hate the cuban/mexicans/poor latinos that are dangerous in all of FL. I don't relate to them and I find it ironic, here I'm in league with the Asians, just rare and unique.

I can go on, but while Florida isn't bad, I hit my ceiling there forever ago income wise, network wise.

>>49724156
oh yeah, same car, in FL - 500k/500k PIP and comp, cost about $950yr/ for a new car, no accidents or such.

In WA, $300/yr. Yeah.
I pay marginally higher registration (they call it tabs) which were $45 in FL and 90$ here, but I'll take that all day over the bullshit of FL insurance rates.

Only thing I do miss is the daily sun, but that's acceptable as I fly out to asialand half the year and I am comfy leaving my place locked up w/o trash breaking in. :)

>>49721391
Say what you will about this guy but he just heard that Ken McElroy walked away from $1mil in escrow because the numbers don't add up and him and his friends have stopped buying any RE. Like some experts are saying, this is the bubble of everything. Affordability and debt crisis all wrapped up into one ticking time bomb.

https://youtu.be/uKhBAiySoSU

>>49721598
nigger don't you know how the game works by now?
they don't use the same routes and schemes to get leverage

you're measuring it by the 2008 crash metric. But the 2008 crash metrics don't apply because the schemes are different and the players are different

> muh housing demand
nigger there is ALWAYS demand for housing. Millennials looking to buy their first home. Gen Xers buying their first rental. Boomers buying their 50th rental. ALWAYS.

If you think housing rose because demand rose by 35% in 2 years, you're a tard.

>>49721391
They allow ~10 days for first time home buyers to buy a house before it hits market but when a seller knows if they hold for 14 days they'll get 1.5x plus it's all cash it becomes a no brainer for the seller to decide.
The issue of housing will continue to go up until regulations come out not allowing large investment funds to own thousands of houses to only rent.
It's comes back to supply and demand. Demand will never be filled because the supply is artificially reduced. If you stop the artificial reduction (funds owning large amounts of houses) then the demand (price) will go down

>>49725283

>i have no idea what im talking about the post

please elighten us tards on how the plebs are getting leverage? protip: if you mention heloc you are wrong

>>49721598
>graph doesn't show 2021 or 2022
....

>>49721391
Are the end times near?
no, but we will be in a bear market for a few years while the world recovers from the last 6 years of blatant manipulation, money printing, hype and debt/leverage. the real estate market will follow and those who have been greedy and made foolish real estate purchases will lose a lot in equity, while those who are prepared and able to secure capital in the coming years will be able to buy cheap while everyone else is unable to

>>49721456
>5 posts in this thread
>all bait or pure retardation
kek