/biz/ - Business & Finance

>>52925444
stop being poor

>>52925444
>he thinks real estate prices are going to drop
Only if unemployment goes up another 10-20% and there are catastrophic defaults on mortgages AND the big jewbois at Blackrock, Blackstone and Vanguard don't scoop up those properties and turn them into rentals. Welcome to the Great Reset, cuck.

>>52925460
i make $100k a year from home

>>52925444
>You'll own nothing and be happy
Unless you have cash you're not buying a property no matter how low they go. Just as prices were always going up faster than your salary now interest rates will always be going up keeping that house just out of your reach. Not everybody has a mortgage so it doesn't really matter to them what the property is worth because it's their home.

>>52925528
>100k
Exactly you fucking poor

>>52925528
>$100k a year from home

>>52925511
I mean all it would take is for unemployment to go up and the other two things are going to happen... and there is already a clear slowdown in the property market.

>>52925555
i have $100k cash. it seems foolish to buy now. interest rates can be renegotiated by principal cannot.

>>52925601
A slowdown is very different to a crash or prices going down.

>>52925601
The big jewbois will still be able to get cheap debt from the FED whereas tur average normie will be priced out of a mortgage, even if property values decline. As >>52925555 (checked) said, you will need to have cash on hand. I honestly think that the FED will prop up housing prices if they start going down too far, pricing out the normies.

>>52925650
If that happens prepare for me to rape a couple people before I burn down a couple properties. I own a home, but will gladly live rent free in the jews in my area as they seek therapy. Fuck the kikes, fuck the chinks and fuck real estate parasites

>>52925670
based

>>52925606
How much do you intend buying for?
If we're talking 300-500k then your biggest factor is locking in a good mortgage rate. It doesn't matter if you get the house 50k cheaper if it's snapped up in interest. If you're in the USA or Europe we're getting flooded with immigrants and they all need somewhere to live. Over the long term waiting for prices to drop makes no sense.
I bought my first house for £44,500 I could have haggled and maybe got 10% off. I got a decent interest rate and could afford the mortgage. I still own that house and it's worth £350,000 that 10% (or £4,500) looks like a pretty good deal today.

>>52925444
I earn $240k and have several six figs in crypto and stocks, but I rent instead of own because real estate is in the world's biggest and most obvious bubble.

I live outside the US where most people are on 1 or 2 year fixed rates, the majority will be up for renewal by mid 2023. People will be going from 2% to 7% interest rates and get absolutely rekt. And if we have a recession with unemployment even more people will get rekt. Buying between 2020 and 2023 is probably the most moronic financial decision of your life.

Funny thing is, the landlord who owns the place I rent is a wagie with a shitty job earning way less than me. I guess his parents helped him buy the place. When his rates go up they'll be more than double what I pay in rent, so he'll lose huge money in capital and also be making huge losses every month on interest. The guy will probably go bankrupt and take his parents down with him if their name is on the mortgage.

>>52925688

i'm limiting myself to a 30 year mortgage of no more than $1300/month with 10% down. at today's rate that is about $210k purchase price @ 7.1%. three years ago, that would have been about $300k purchase price @ 4%....

prices in my area are starting to come down but it's still ridiculous. 1200 square foot boomer shacks within vintage 1980s decor are going for $250-280k.

I am so fucking glad I sold my house in January. $1.5mm. Now we are renting a townhouse and waiting for the bubble to pop. I intend to buy my house back for $750k in 2024.

Shorting the real estate market is easier money than shitcoins. I beat the jew. Hahahahaha

>>52925444
Not me. I bought a house when the interest rates were low at a mortgage rate that was less than the average rent here. Get fucked faggot.

>>52925759
>i happened to be at the right place at the right time
no one cares, nigger.

>>52925444
The best thing to do is to buy a trailer home or buy a towable trailer and live in a trailer park. You do tap throw away your money that way like you do with renting. Then when real estate prices are down, you sell your trailer home and buy a house. That’s my advice for you retards.

>>52925695
There's a few issues with that. I'd say you are better having your money in property, gold, silver, fleshlights or basically anything that will protect your money from inflation. The very last thing you want is cash in the bank. Totally agree there's fools out there with stupid 95% LTV mortgages who are going to get wiped out next year. There's a lot of landlords who are also highly geared who are going to exit the market either by will or forced out. What do you think will happen to rents when that happens? You've got less rental property and more people who need it. Your landlord doesn't need unlimited funds to survive, he just needs to have enough to be one of the last standing. Then he'll bang up the rent.
Property, especially in the UK, is a strange beast with lots of factors at play. You need to weigh everything up very carefully.

>>52925740
Your problem is the boomer house you want is most likely mortgage free. There's very little pressure to sell. If the nice house they're looking to buy isn't reducing they won't reduce theirs and they'll stay put. The market will slow down but that doesn't translate to crash. The shit box 'trendy apartment' in the up and coming part of town (nigger infested hell hole) are the ones that are heavily indebted and are going to crash through the floor. But you don't want to live there, and I don't blame you.
>30 year mortgage
How much do you think a loaf of bread will cost in 30 years? how much will your salary be in 30 years? Interest rates will go up and down over that time. I'll guarantee that house will be worth far more than what it is now and you got to live in it which is a cost/benefit a lot of people forget when working out their numbers. If it's your principal private residence (your home) here in the UK you pay no tax when you sell it. No matter how large your gains.
Personally, if I was buying now, I'd wait a year as there will be more nice properties to choose from. That doesn't mean they'll necessarily be cheaper, just more choices. I'd stretch myself to buy after stress testing my income at 9% interest or try for a fix for at least 7 years.

>>52925528
I make 80k at work.
Lol :(

>>52925740
Mine is $4000 a month if you include insurance and property taxes. 90% debt to income.

>>52925754
And at an official inflation rate of 10% (which is probably closer to 20%) how much are you 'losing' every month on that money?

>>52925929
keep on keepin on. i believe in you.
>>52925936
damn nigger

>>52925460
as usual fpbp

>>52925754
>renting
>waiting for the bubble to pop

>>52925528
>makes $100k a year wfh
>claims to be unable to afford to buy a house
stop lying