/biz/ - Business & Finance

>>50358402
No. It's different this time.

>>50358402

my condo could lose 50% of its value and I still wouldn't be underwater

>>50360827
Based owner-occupier. Remember, renting is equivalent to a loan with a 100% interest rate.

>>50358402
1 home = 1 home
not selling

>>50358402
>bought house for 270k in 2017
>zestimate says $600
>redfin says $550
>city i live in has grown magnificently and is unironically ushering in Google, Facebook, et al to the south
i may have lost a lot in crypto, but jesus christ is the roof over my head solid as shit

>>50358402
Is housing crashing?
My local market is still up

>>50358402
I'm never selling

You, on the other hand, are priced out forever.

>>50358402
Dumbass, the(((recession))) does not start until November 9th, 2022

>>50360847
What if I don't have the money to buy though

>>50360877
this

>>50358402
equity home loans are on the rise. Would be a shame if the market crashed and all those boomers lost their home buying a boat with a equity from their house.

I had coworkers who purchased homes in 2007. They were completely underwater until 2021.

>>50360904
Make more money or buy with friends/family

>>50360904
stay poor lmao simple as

>>50360862
Here's the question though.
How do I leverage the value in my home so I can put it to productive use now without paying interest to a jew banker and before it dips for the next I don't know how many years?

>>50358402
noooo my zestimate

>>50358402
nah...long way to go. you rent from me.

>>50358402
>You are already underwater.
I don't have any mortgage debt and have (hangon
napkin calculation)
50000
1900000
28000x150=4200000
400000
That's eh 6.5 million in morage free property and I can't be bothered to do the forestry, its something like 300,000 but all that shit to do with thinning. I pay zero tax on it as I have tax credits via it. The essence of this OP is the rich get richer and fuck you because we have all the guns too.

>>50358402
Since when is having a %120 loan to asset value considered underwater.
> you will own nothing and you will be happy

>>50360827
>talking about equity when you have to pay condo fees until the day you die
do condo dwellers really?

>>50362371
>talking about equity when you have to pay property taxes until the day you die
do home dwellers really?

>>50358402
I liek ze bugs

>>50362371
>>50362398
>>50362365
>I pay zero tax on it as I have tax credits via it.
I get far more in agricultural grants and tax relief tan I pay in property taxes

>>50358402
just buy eth shitcoins and profit zoygoyzoombot

>>50362421
home value is primarily land value. you don't have a claim to the land your condo sits on. you're paying a mortgage on an cuckbox apartment, on top of paying rent (condo fees) on top of paying property tax (on land you don't even own.)

>>50362417
That great, maybe you can eat them with all the other vicious anti semetic north African brown people during your upcoming famine caused partially by your own support for Russia's invasion of Ukraine where your food comes from. Please remember out side of Russian spam pits like /pol/ people don;t hate jews in the west we are however one small incident away from nuking mecca and moscow

>>50362448
>home value is primarily land value. you don't have a claim to the land your condo sits on. you're paying a mortgage on an cuckbox apartment, on top of paying rent (condo fees) on top of paying property tax (on land you don't even own.)
I don't own 'condos' or 'apartments' I'm not fucking stupid. That garbage is a practical joke on immigrants

>>50362291
>trying to jew others by not using the jew system
What do you think this is

>>50362430
>just spend 20 dollars to buy 20 dollars.
>leave to dust.
anon fuck you. also eth shitcoins are dead, nothing interesting coming out, scams through the roof.

>>50358414
>>50358402
Just sold for 400k when I bought for 180k 3 years ago, stay mad rentoids

>>50362695
>he doesn't know

>>50362729
enlighten me or stfu with your he doesn't know crap, ain't no one got time for that

>>50362332
>>50360827
>>50360847
>>50361462
>>50362711
Keep telling yourself that.
No one believes you "millionaire"

>>50362695
found the zoygoyzoombot
>>50362844
INFERNU TICKER FIRE

>>50362899
>>50362844
checked

>>50362844
>inb4 The Great Reset

>>50358402
Nope

https://www.deseret.com/2022/7/14/23216552/us-housing-market-slowing-problem-home-supply-historic-low-interest-rates-prices?utm_campaign=katiemckellar1&utm_content=chorus&utm_medium=social&utm_source=twitter

>>50363085
Your data goes up until May. It's July now. Interest rates are up and people can't buy with previously locked in rates. Check Zillow and look at the inventory everywhere. It's exploding

>>50363267
Nope

>>50363281
>The 50% spike in inventory in one month is surely a blip and not a trend that will continue in the coming months

>>50362711
Youre either renting a shithole or you're underwater on your new shithole

>>50363395
>normal increase in seasonal housing inventory means market is imploding
You're retarded. It's ok the world needs rent slaves now get in the pod.

It would have to drop 70 percent for me to be underwater.

>>50362514
Magnificent post desu

>>50363281
>zoom out
hm, here is the full chart if anyone is interested

>>50360847
Except I rent much less than people buy, so my 100% interest is less than your interest and I have no risk, I can move and downsize at will.

Just accept that nothing is permanent in life. You will always be paying property tax, you will always have to move, you can't fight nature.

>>50363598
Wrong chart retard. Mine was total inventory yours is just new builds.

>>50362877
>t. priced out
I might have let you rent one of my houses, but certainly not with that attitude. Send a postcard from the homeless shelter!

>>50362448
>Thanks for the contribution retard nigger

>>50363267
I dont know anon,
The crucial part is infrastructure. More houses are falling apart then are being built.
And more importantnly
Govs are flat out broke to even maintain roads, sewage, power grid, water pipelines etc.
Let alone build new developments. Literally impossible
Commercial developers at best, slap tarmac road in the middle of nowhere and that already makes the price sky high
Cities suck ass, but innawoods where you commute 4 hours daily, more if you have kids, or need healthcare, all while shitting in the bucket and drinking rainwater aren't great either

>>50363281
You are that same boomer that comes into every one of these threads and posts the same charts kek. You actually think that total inventory is this inelastic thing that wont increase as the bubble pops. Now post that green zestimate tradwife wojack I know you fucking have in your folder you retard.

>>50364272
>the bubble pops
You rentoids keep having this fantasy that prices for houses will magically drop so you can buy a home. It will never happen. Get in the pod and eat the bugs.

>>50363663
>Except I rent much less than people buy, so my 100% interest is less than your interest and I have no risk, I can move and downsize at will.
That is also an ideal way of life. I am considering living on a boat to become a low-rent chad.

>>50364637
>ideal way of life

>>50358402
Ass to ass.....ass to ass!!! ASS TO ASS!!!!!!!!! ASS TO ASS!!!! ASS TO ASS!!!! ASS TO ASS!!!!!

>>50363663
>downsize at will
>440sq ft studio apartment is now $1200/mo

>>50358414
This
This
This
My house won't crash
This this this t hi sithisthsithsidtshfheungismfonwg

>>50365524
This is the best post in the thread.

>>50358414
>and then they said we'll protect their investments.

>insufferable cryptofags getting shit on
>over the coming year real estate fags will get shit on

This is a great year bros. Real estate crashes in slow motion so you get two years to savor their pain.

>>50363413
Nope, I have 100 acres of forest now :) enjoy that hustle and bustle rentoid

>>50364595
You do realize WEF plan is to take your home right? You do realize the more renters they create the bigger of a renter voter base they have right?

Yeah no, bought in 2017 for 545k cad and currently worth about 870k. Yeah only a few months ago it was over 900k but I've got alot of breathing room.

>>50358402
if you bought a house in the last couple years you are absolutely retarded. the best part is this crash is going to be even worse than 2008. can't wait
https://twitter.com/WallStreetSilv/status/1537495219821748227

>>50366125
https://twitter.com/0x_Templar/status/1537633886678573056

>>50366198
>I will never have 10 vacancies.
Lol, I've seen apartment buildings with less than 50% occupancy.

>>50363085
Now quote months of supply in the past week. Then look at Pendings (that will become sales and be the future numerator). Then look at new listings.

I wonder if the numerator is dropping and the denominator is rising as fewer new listings get pulled off the market and remain active while sales drop like a rock.

>>50363598
Now add the pending contracts that cancel and fall out

>>50358402
I bought my house in a college town with a net deficit in housing. I think I'll be alright.

Own 150k condo
No more mortgage, utilties+hoa are 6.5k/year
Feels good, could retire on minimum wage and travel on weekends.

>>50366341
That guy talks like he's never had a seasonal slump. Either he owns in very good areas, he's full of shit about what he really owns, or he's in for a rude awakening.

>>50365794
dude why are they all laughing

>>50366516
They cant help it.

>>50362448
any property relies on trusting the social contract will be upheld and not auctioned off to blacks and hispanics for "white colonialism"

>>50358402

Cant be underwater if my hoise is paid. I anticipated the deflation that is about to happen. Debtmaxxers will be crippled.

>>50362458
OYYYYY VEYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY
Just remember the Zionist lobbyists brought them over in droves to destroy "Edom"

>>50363796
Fucking keked at the shit bucket and rainwater. Ruralcels always neglect to mention you have to store your feces underground and harvest cacti for water and shit. Not to mention sundown means your day is DONE.

>>50365804
And savor it I will brother

>>50360904
Get a USDA loan where you can buy for $0 down.

Rates are only 3% right now, it's basically a half off coupon.

All you have to do is not live in one of the shaded areas on this map.

>>50358402
Mortgage holders are not accountable. They won't be margin called. This isn't crypto, they won't be punished for their extreme leverage on illiquid boxes.

>>50363281
FRED has 3 month lagging data on everything. It's infuriating how slow those boomer fucks are.

>>50368900
Investment mortgages are subject to margin calls, and they're even worse than the kind you'll get with a stock broker because they don't require specific conditions to trigger. Regular home owners aren't subject to margin calls on their 30y fixed, but they can be charged PMI if their margin falls under 20%.

>>50358402
If this doesn't stop soon I will start crying, I need a house urgently, I want the moonies now.
mom starts to hate seeing her carpet covered in cum

The correction would have to be at least 30% for that to happen to me

>tfw will be able to buy land and house cheap next year because everyone died of starvation

>>50361034
Actual home price index says you're a fucking liar though, now what

>>50369002
>FRED has 3 month lagging data on everything.
This is total bullshit.

>>50365941
>545k cad and currently worth about 870k
Try selling it. No one is going to pay it. 5 year fixed is 5% now. I bought for 240k 5 years ago, house down the street is selling for 700,000, been on market for 3 weeks now. Talked to neighbour, said house was appraised at 700,000. No one is going to pay that shit with inflation running rampant and expectations of higher interest rates. The government is just milking your ass on property taxes.

Most arent selling because they live in their homes and pay a ridiculously cheap mortage as opposed to renting you dumb faggots. I can sell right now for a 80k tax free profit for owning for 4 years, but whats the point? Go rent after that from Schekelstein for 3-4 times my current monthly payment? Theres rsally no point in selling unless you are moving to a cheap cost of living area overseas permently

>>50370572
Wow three whole weeks!

I don't have a job and I don't plan on getting one. There's no playing the mortgage game for me, right? Hence, my endgame is buying the house in full.

>>50370674
Shit would sell in a day to two with multiple offers before. That house isn’t going to sell for 700,000. They will be lucky if they get 500,000. Like you fucking think a 4000$ a month mortgage payment on a 3+2 house on a 60x120 lot in a small town is reasonable? This isn’t a city where people make big bucks.

>>50370833
https://www.realtor.ca/real-estate/24588899/158-delmer-cottam

Why are leafcucks such retards? It doesn't even list the square footage, literally one of the most important aspects of a real estate object. Got I hate dogfucking canucks so god damn much

>Like you fucking think a 4000$ a month mortgage
Dumb fucking syrup niggers can't even do math. With 20% down and 5% interest it's CAD 3000 a month, not 4000. That's $2300 in real money.

I will also make fun of you in a month or so when it does sell for 700k.

>>50370833
Also your stupid town doesn't even have sidewalks, how pathetic is that

>>50370957
>Dumb fucking syrup niggers can't even do math. With 20% down and 5% interest it's CAD 3000 a month, not 4000. That's $2300 in real money.
I just put it in a mortgage calculator with no downpayment.
>>50370957
>20% down
He doesn’t know you only have to put 5% down.
It’s probably 1600sq. 1800 max.
4000$ A month is the income of someone in the top 2% of earners in this country after tax. You also have to pay property tax on the purchase price every year, which will add a huge amount to the monthly cost of owning the home. Like, 600$+.
Only the top 1% of the population could afford this property, and it’s not like it’s anything spectacularly great. It’s a middle class house if that.

>>50371016
Everything is so far away, no one walks anywhere besides to the park. Welcome to Canada.

>>50371153
It's not $4000 though is it, you're supposed to have a downpayment.
You're also assuming a single person is going to buy this home when houses are usually bought by couples, you know with two incomes.

>>50371227
Why are you trying to justify a 250% increase in property value over 5 years in a small town so hard? Factor in property taxes and even if they paid 20% down they would still be paying close to 4000$ a month. In order to pay 20% they would have to have 140,000 down, which isn’t going to happen. They will put 5% down.
Incomes in this area are not that high, people probably make 50k to 75k pretax.
This house will not sell for 700,000k.

>>50366447
>Own 150k condo
>No more mortgage, utilties+hoa are 6.5k/year
>Feels good, could retire on minimum wage and travel on weekends.
Where can you get a good 150k condo and near a good airport?

>>50371529
Why would you want to live near an airport? They are loud as fuck.

>>50371546
>Why would you want to live near an airport? They are loud as fuck.
I don't mean along the literal approach path lol.

I'm talking about within a 30min drive or so

CRASH FFS

>>50370450
>national average completely invalidates what the individual experiences in a local market
are you a nigger? by this, i mean that when you hold your hand in front of your face, do you see black skin? because that's the only explanation here -- that you are literally a retard midnight black gorilla nigger.

>>50372848
No bro 2008 was just a 15% dipperino if you HODLd your house you did fine bro. Also if you zoom out to the 10000 year chart you can see that house prices only go up since Sumeria bro.

I have a rent controlled apartment so while market rents have doubled, I am still paying an affordable price for my 2 bedroom.

Compare that to people who fomo'd into real estate at the top or people paying their whole paycheck to their landlords.

>>50370560
It's not

>>50371352

Based fundamentals poster. The market simply doesn't have the income to support this and reality will set in soon.

>>50373197
You're still at the mercy of your landlord to maintain the building and you'll never be able to improve it. Plus you have no equity to draw from if you need to move to assisted living or to leave to your kids.

>>50374582
>Buy stocks
>Retire to Philippines
>Creampie teenagers
simple as

>>50374736
Kek

>>50374582
Tell your landlord you are withholding rent until he bends the knee. Its worked every time for me and gets their attention about major issues.

>>50374582
>>50374493
We need a zestimate female wojak opposite of this for when the crash comes lmfao

>>50368857
Holy shit, how have I never heard of this? Going to look more into it, thanks anon

>>50376215
You will still have to pay PMI if you put down less than 20%, and the amount is higher the less you put down.