/biz/ - Business & Finance

my retarded uncle just bought some land and is planning to build a house and sell it for profit. I feel guilty for not stopping him. Tried to talk him out of it but I dont know if I should start yelling at him or what.

>>52794098
Iron and lumber are cheap now, it's a cheap time to build.

>>52794050
Not my problem

>>52794120
Yeah I think this is why I never pushed too hard. Maybe im wrong and its a good time to be greedy when others are fearful or whatever.

>>52794050
lol not selling. imagine not owning a city condo.

>>52794138
housing isn't the same everywhere. prices are about as sensitive to location as it gets. he'd just think you were retarded for not knowing the basics, at best you'd be blabbering about some "bubble" while he's simply looking at real appraisals nearby his lot.

>>52794157
I suppose. But everyone should understand the direct realtionship between interest rates and the price real estate will sell for. Shit is definitely going down over the next year or two unless FED changes its tune. I guess you can still make decent money in a down market if you do a good job with the project though.

>>52794157
>>52794196

real estate has always been a location game first and foremost. 2008 scared everyone into this mindset of "everything is gonna crash at once!!!" when that is never how the domestic RE market operates. Far more important than interest rates and fed action is the local market outlook and especially comp sales.

>>52794157
I’m not interested in buying near some nigger infested hood. I want to be in a peaceful rural area. The downturn will help me the most.

How to time the bottom of the housing market?

>>52794050
Yeah share some more kike propaganda bro, leally lay it on us faggot, post some twitter screencaps next

>>52794050

>3/4 don't even own 10% of their house
>already underwater
wow

>>52794050

>>52794050
>zerohedge

>>52794142
based
never selling either, seethe harder renties
<rentoids caring more about my property value than I do

>>52794142
>city condo
>glorified apartment
>no land
>scammed out of $400 by hoa every month

>>52794142
Condos don't even appreciate like free-standing houses
You're a glorified rent cuck cause you still pay dues

>>52794120
>iron and lumber
I hope this guy's uncle is not retarded and build using concrete and rebars.

>>52794568
same guy who can't even green text properly but alas
>caring about "land" having to maintain it all the time instead of enjoying yourself and hobbies that don't involve homesteading
>not being around the best food you can find
>not being able to walk to literally every necessary destination
>decided he HAS to own a vehicle and therefore pays for all that stupid maintenance and gasoleen for his truck

only morons pay HOA fees, also remember that someone will ALWAYS want my property, why?
because it's where the jobs are IN THE CITY.

hospitals employees and executives galore, I literally live near a produce stand that spans 3 blocks in length, butchers, Italian food, candy stores, coffee shops, specialty everything.

the only downsides are the nig nogs and the homeless

>>52794050
>b-but it doesn't matter as long as you plan to live there for 30+ years....

>>52794050
>That said, just 0.84% of overall mortgages have dipped into negative equity, which is "extremely low by historical standards."

ok

>>52794579
Better than nothing. They're good starters and eventually i'll be able to rent it out and use it as a piggy bank. Goal is income with this one.

>>52794050
Blackrock will be happy to slurp those foreclosures.

>>52794692
that's bearish

>>52794050
Everyone who is underwater still has a great interest rates.

>>52794973
cope

>>52794138
People aren’t fearful, they literally can’t afford to buy at this combination of price + interest rate

>>52794380
used to be able to use the Racial Dot Map, now you just have to use crime maps. Which of course naturally have a very strong correlation to the racial dot map.

>>52794973
wouldn't it be a better idea to buy low prices on an adjustable rate? that way you can refinance later?

>>52794679
>same guy who can't even green text properly but alas

>>52794568
That pod looks comfy, just needs a UV lamp, trash chute, small fridge and I'll be set

>>52794588
Pouring a basement foundation costs 40k and lumber is down 70% yoy, idk what point your making. It's a cheap time to build.

>>52794579
my condo went up in value several 1000xs over the hoa fee sir. in a way I lived here totally free given how much it skyrocketed in value

>>52794266
seems like if you live in texas or florida you cant lose because I just think people will move to zero income tax states even faster in a recession. Those two have plenty of other factors going for them as well.

>>52794737
Blackrock is getting a bankrun. They aint slurping anything, lol.

>>52795183
ironically I'm probably taller than you, only a short person would post this.

>>52794485
this. i get all my information from CNN

-Jane Smith
they/them

>>52794679
>the only downsides are the nig nogs and the homeless
Whoops. Depreciation here we go.

>>52795330
>he thinks he deserves the LUXURY pod

>>52794485
>everything I don't like is Russian
Imagine all that free real estate Blyatt Niggers have in your head

>>52794679
>Bobo hires the local niggers to scare away the shops
Nothing personal mumu

>>52794266
this

some states will see mild drops or at best their price climbs will stall (nyc/cali/nova/boston/pnw, anywhere dense that has a shortage of land)

some places will fall off a cliff (idaho, texas, florida, nevada, anywhere you see new construction that relies on low interest rates + you can build anywhere)

the only thing is imo the cliff drop will be a lot less due to WFH/remote work depressing the commercial RE markets in cities. demographics will also be a factor the next 10 years as young millenials finally save up enough to buy a house right as boomers mass-retire and downsize to buy property in southern states.

>>52795892
ny area has had millions of condos and apartments start construction under covid coming online now. people don’t have to live their for work now and the niggerape problem is getting worse.

>>52795348
OK, to clarify for the cardboard house owners: in normal countries walls, floors and roof bases all have concrete with rebars inside (bricks if you have money, stones if you have fuck all money).

>>52795902
The problem is NY is still insanely desirable and the people who choose to live in NY don't give two fucks about the COVID restrictions

There's literal lines down the block for apartment viewings in Manhattan/Brooklyn and gentrification projects in areas of Brooklyn/Queens within 30-45 mins to Manhattan by subway

The market is cooling on the NYC suburbs just slightly, since the people who would choose to move to the suburbs are either deciding to move OUT of NYC or are being forced to come back to work by their employer.

tl;dr

https://www.kastle.com/safety-wellness/getting-america-back-to-work/

Now bear in mind they don't include data from Tishman Speyer + SL Green and a bunch of other commercial RE companies.

>>52795728
I'm Commander Shepard, and this OP is my favorite fag on Citadel Station

>>52794679
>the only downsides are the nig nogs and the homeless
Those downsides are not going to get any better for you, anon. There will just be more and more of them.

>>52794679
>The only downsides are rape, robbery murder, human feces in the street, the smell of urine wafting up five floors through my window, shitty schools filled with nogs, and nowhere to hide in my 500 sq ft studio.

>>52796493
in reality i live across from a park in a 90% white neighborhood

>>52794485
back to pleb bit

>>52794142
Please tell me you're joking