/biz/ - Business & Finance

>>51481979
12 months time

>>51481979
who knows. it's an inventory problem + nearly full employment, so people are working, have money, and want to have a place of their own. there's really no end in sight.

>>51481979
after the 20% housing market crash when people panic

>>51481979
You had ten thousand years

>>51481979
be patient

>>51481979
do the math. compare the total repayment amount (principal + interest) on a house today vs 3 years ago. as an example, i live in the suburbs of philly. i'm seeing homes that sold for $250k back in 2020 go for $300k today. national average down payment for first time home buyers is about 7%. rates in 2020 were about 3%, rates today are about 6.5%.

$250k home with 7% down = $232k mortgage at 3.0% = $352k total payments over 30 years
$300k home with 7% down = $279k mortgage at 6.5% = $635k total payments over 30 years

no thanks. i'm continuing to stack cash. if prices refuse to come down, i'll cope and buy a $120k shit shack in my flyover hometown with cash.

>>51481979
The best time will be when the market crashes in a few months.
Then buy real estate as it will be super cheap

>>51481979
Never, because we are ending Late Stage Capitalism and headed for early Neo-Feudalism.

Boomers will die and sell of all the property and houses they've hoarded over the decades, and Chinese banks will step in and buy them all.

>>51482533
fpbp

>>51482487
>no end in sight

>>51484115
6 IQ

>>51481979
Buy land. Invest for a decade. Build cabin. Buy dog. Retire.

>>51482533
Kek

>>51484141
Janet Yellen makes me laugh so fucking hard when she talks.
Anybody who has a degree in anything to do with economics or finance knows she is braindead lol

I'd say buying some peice of shit plywood home in an HOA neighborhood is buying the top, unspoiled rural land is running out and will be worth more in the long run.

Buy land + put trailer on it, get a construction loan and build a quality home when you're ready.

The market has already softened a lot. Mortgage rates are a lot higher and people can’t afford as much as House as they used to. I think it’s probably a good time to buy. Sellers are probably out there getting nervous.

There’s only been one financial event since the fall of Rome where you would be underwater on a mortgage payment. And most areas dipped 15-20% and recovered within a few years.

>2008
Everyone with a pulse qualified for a loan. Banks were throwing adjustable rates at every idiot. Housing was eaten up when people realized they could buy a home, open a “ninja” cash credit line that would cover the mortgage payments until 1 year later they would sell the home for profit. No need to rent
>2022
Globohomo faggots printed 30% of money supply
Anyone with a brain panicked and bought physical goods on 2% FIXED rate mortgages
All the retards have been “priced out” since 2016. Nearly no 20 year olds own homes but have down payments and are ready to buy.
All fed needs to do is pivot (which they will) and home prices will continue going up

>rentoids get the rope for all eternity.

>>51484337

Property taxes mean you’ll forever be cucked just as much as the rentoid. They are approaching rent amounts of money where I live

>>51484337
>>rentoids get the rope for all eternity.

in 10 years the boomers living alone are going to start dying & getting sent to the old folks homes, while the population rate of new adults is quickly declining. The millennials at prime age to buy real estate don't have kids and are more likely to stick to urban environments or apartments & condos. The demographic actually still growing & having children are latinos which mainly stick to construction & manual labor jobs including construction. Latinos also live with significantly more people per household. The ponzi is going to start reversing lol

>>51482764
That's if you still have a job

>>51484540
>The ponzi is going to start reversing lol

And what will the fed do when this happens ?

>>51484337
The fed doesn't need to pivot. Since they already inflated since 2008, huge money is in stocks and bonds. If interest rates rise, those become less attractive in favor or commodities, housing and commodity intensive things as investments. There's also supply problems in these. At the same time, there's still some buy pressure for houses since high demand / supply ratio. It can change if the economy goes bad, but that won't make more homes being built, or the demographic

>>51484337
>. Nearly no 20 year olds own homes but have down payments and are ready to buy.
What the FUCK are you talking about? Kek oh yeah I know so many people in their 20's and 30's just walking around with an extra 60-80k that they saved from working at fucking Costco and Walmart all these years just waiting to throw it at a house kek kys

>>51482719
>What is inflation

>>51484469
This is rentoid cope. I’ve paid $3k in property taxes and appreciated $50k in the last few years.

>>51484540
Those homes will be inherited, not market dumped. This is more rentoid cope.

>>51484777
You only need $6-10k to buy a home. And if you have already forgotten, 3.6k tax exemption for kids, globohomo covid checks, student loan relief etc. a free $5k-15k in equity from their stupid cars. many are ready with cash and inflated assets to buy. Cope more rentie

>>51484619
I will. You will. You really think the fed is about to bury us into a grave? If there was risk of massive bankruptcies we already know what they would do.

Doomers get the rope.

>>51484115
>late stage capitalism
opinion disregarded

>>51484886
>You only need $6-10k to buy a home
You would be murdered in less than a week in that kind of neighborhood kek

>>51484886
>rentoid cope
>rentoid cope
>rentoid cope

Tell me you are incredibly emotionally invested in your house purchase without telling me.

>>51484922
Fucking retard. Stupid fucking retard. You can qualify for a little to zero down if you make enough income. Keep with the pessimism and dog coins though, I’m sure Lunc will make you retire in another 2 weeks. Get the fuck off this board

>>51484951
I’m feeling great. And I been telling fellow wagecucks to buy a house for 7 years and always got the same response. The responses you all give remind me of my idiot coworkers. I just want to inflict pain on them for calling me dumb for taking such a big risk and this is my way of doing it. Get fucked and cope rentoid
>Also, rent is due soon

>>51484959
>>51484983
You sound completely and utterly assblasted. I hope you find inner peace, honestly. It can't be good for your heart to get this worked up towards strangers on a mongolian basket weaving forum.

>1989 GET IN YOUR BUNKERS THE WORLD IS ENDING!
>1999 GET IN YOUR BUNKERS THE WORLD IS ENDING!
>2009 GET IN YOUR BUNKERS THE WORLD IS ENDING!
>2019 GET IN YOUR BUNKERS THE WORLD IS ENDING!

It’s all so tiresome. Stupid Doomers.

>>51485030
I have a lot of money. It’s fun to stir the pot. Don’t care frog man. Don’t care.

>>51481979
It is the best time to buy a home outright.
It is the worst time to finance a mortgage.

>>51484777
I work at walmart and save up a lot of money without even being frugal. I spend 9$ at starbucks every morning and 12-15$ on lunch eating at sit in restaurants. But I still spent 15k on a 80k fixer upper last year at 3.25% and 5k in materials 3k in tools/recreation and still have 21k sitting in the bank.

If you don't live in a shithole city Walmart pays decent.

House prices aren't going to significantly go down for many years yet.

In my country, the inflation, and the literal lack of building material are so bad that the building of new homes is stalled. So this is setting a medium term trend. Houses will gain value for the next 3-5 years, guaranteed.

>>51484829
inflation over the past 2 years was about 25%. the amounts in my post indicate 80% inflation.

>>51484886
>Those homes will be inherited, not market dumped. This is more rentoid cope.

inherited then market sold because no one's going to move back to grandpa's house

>>51484886
When a house is inherited by multiple children, it will be market sold.

>>51485400
thers many things that happen and children of rich boomers whom own 10 homes or more will likely have good inherent financial values and will continue to rent those homes. cope more

>>51485336
wow youre just SO fucking smart. 144IQ Post. good idea lets just wait for all boomers to die at once and market buy the floor (Btw you wont buy even during a crash so why do you even care)

Overleveraged """landlords""" and real estate investors will rope

>>51484886
>t. poor

>>51482602
But annual rate of increase is getting higher so what does this mean

t. Maths blind

the perfect time is when rates are (still) high but houses cheap, and it is foreseeable that rates will be lowered in some time (years), you buy the cheap house with a highish rate and as soon as the rates are low again, refinance with lower fixed rate

>>51485469
>wow youre just SO fucking smart. 144IQ Post.
only 135 iq and yeah the "houses only go up" concept is entirely dependent on population increasing and inflation. Only 1 of those will continue and look what happened to Japanese or Italian real estate

Literally went to view a few overpriced shitboxes which had multiple viewers on the same day

Wtf

KILL EVERY REAL ESTATE NIGGER

>>51486514
Holy shit this webm. Post more

>>51485400
I did see a case recently with two children. The house was about half the inheritance, so one of them kept it.
But yes, often even if someone wants to buy the others out, they might be looking at months and tens of thousands of dollars in overdue repairs. So, fuck it.