/biz/ - Business & Finance

>>52986923
Houses are being listed at 4x what they’re worth currently. Buying now is a mistake.

>>52986923
>McMansion with a useless lawn
Do people really?

>>52987232
Kek

>>52987232
God only knows what those ameritards bought that for

>>52987683
And pay a shit ton on property taxes

>>52986923
I need that house

>>52986923
>>52987232
>>52987996

You can visit. Called Biltmore. The owners don't want it anymore.

As a poor person, you can pay the rich owners to see how rich they are.

>>52986923
You don't need any money to buy a house. Just get a USDA loan and put no money down and get a half priced interest rate. Just leave the major cities and their adjacent suburbs.

>>52987859
Kentucky is full, stop posting

>>52988150
half priced interest rate is still like 4% right now

>>52988256
3.25%

>>52988265
for a poor person, that would still be a very difficult ask. I don't actually think I'm poor enough to qualify, but if I were, it would be miserable trying to pay that percentage

>>52988302
yep, as they say, you can lead a horse to water...

there's just some people in this world that aren't meant to make it

>>52986923
they want what this sold for in 2012.
I think they might get a bit more. though.

How much to live in peak Americana?

>>52988265
Rates have gone up since Nov 1, stoopid.

>>52988513
John Hughes movie America, New England America, bugerpunk america or country music video America?

>>52988550
I like the house anon but wouldn't want to live in Illinois

If you ever want to see someones true character, make them a roommate. Never give anyone else equity in a home that matters. Don't forgive people either. If anyone disrespects you in your own house, cut them out permanently.

>>52988591
>>52988550
overpriced horseshit

now take a look at this

mfw cityfags keep getting blown out

I think I'll just rent forever. The idea of being tied down to a house for decades is viscerally uncomfortable. I want to be able, should I choose, to move at will to another place.

>>52989465
its highland park.
you're better off with that.
it's not the city.
but it's still in the metro area.
and don't buy a flipped house

>>52989492
crimo

assault weapons ban by city regulation

it's the jewish schizo capital of illinois

there is literally 0 reasoning, unless you're reliant on a corporation for your income, or you're a college grad which I shiggy diggy

also highland park is a part of chicago and you will have all of the problems of chicago by being in highland park, even if it's the rich jewish area

>>52989502
2.5x the median income
prettier and has nicer homes and schools.
if you're looking for somewhere more politically balanced there is always lake forest.

overall, it's a good location. And it's easy to commute to Chicago.

>>52989513
is the north shore murder rate consistently 30 per 100,000 or something

>>52989502
>assault weapons ban by city regulation
I feel like that is an invitation to rob houses

>>52989557
a gremlin shot up your 4th of July parade

fuck off with all of that

if I bought things because of how pretty they are I guess I might as well put on a fucking dress as well

you are living in an epicenter of evil, it is plainly obvious

>>52989568
of course, but it will be state wide in illinois in the upcoming future, but atleast we're in a 90 percent white area

also the safet act allows criminals who have committed second degree murder, robbery, and battery out on the streets without bail

what a perfect time to be buying in chicago amiriite

>>52989576
you are free to average out the last 20 years.
and bobby crimo the third is in jail.
and more importantly I don't even live in the Midwest, let alone lake forest.

it's the better investment.

>>52989585
>what a perfect time to be buying in chicago amiriite
Lake Forest=/Chicago

>>52989595
no it isn't dipshit

raving bands of criminals in a melting pot of fire isn't a good investment

the safet act and assault weapons ban will be signed into law in the next 20 days probably

atleast the republican counties might fight for your rights, you are signing up for hellfire

>>52989602
the chicago metropolitan area is chicago, you fucking moron

it's all one big conglomerate, it's all the same

>>52987957
Depending on location 2 acres may be relatively worth 10k, if a 15-20 y/o can still be worth 5-10k then it’s a good buy for area.

>>52988510
cringe

Why are burger houses so soulless?

>>52989641
why can't eurocucks participate in the thread without projection

>>52989613
that's not true in the slightest.
that isn't true anywhere.
There is a big difference between the city and the suburbs.
hell even neighborhoods make a massive difference.
any race, income or murder map can tell you that.

>>52989641
that's rich form someone who probably lives in some postwar apartment block.

>>52989667
cringe

your city is shit

>>52989678
where is your argument?

>>52989684
cities and suburbs are dogshit without exception

especially highland park

>>52988011
You can visit real castles for half the price and they're not made from cardboard

>>52989722
COPE

>>52987996
You don't need it and you shan't ever have it

>>52989743
Copeboard*

>>52988608
Boomer faggot post lmak

>>52989722
You're a fucking moron.

>Construction of the house began in 1889. In order to facilitate such a large project, a woodworking factory and brick kiln, which produced 32,000 bricks a day, were built onsite. A three-mile railroad spur was constructed to bring materials to the building site. Construction on the main house required the labor of about 1,000 workers and 60 stonemasons

>>52986923
>How many years should I be prepared to rent?
It depends on you and your career.
10 in major cities (NYC, L.A., Toronto)
5 in minor cities (Boston, Houston, Atlanta)
3 elsewhere
>Should I buy now and refinance later, or wait for a recession and rates to come down?
I think that if you can afford somewhere decent you should buy whenever available. The financial security and low-risk nature of owning your home is priceless compared to min-maxing rent and high-risk investments.

>>52989477
What about when you have a fixed income during retirement? The risk of rent increases is terrifying in old age.

>>52989465
75k for a hut is also overpriced to aids. House was built over 100 years ago, so have fun wearing four jackets in the winter

>>52986940
But they'll be 4.5-5x next year

>>52990617
Not with a recession. House prices peaked months ago and are dropping.

>>52990609
>75k for a hut is also overpriced to aids
not as overpriced as 99% of rentals though

>>52990609
this is in one of the largest micropolitan areas in the country with basically no violent crime, walking distance from stores, it's a good deal overall, I just laugh when people talk about their "safe community" like Highland Park, where schizo jews shoot up the annual 4th of july parade and cityfags vote 80 percent democrat

the delusion is unparalleled

>>52990609
also lol at needing 4 jackets

you are clearly not a nordic borreby god

I start sweating if I wear a single sweatshirt inside, if it stays above 50 in there I wouldn't even be bothered

>>52989465
>over an hour to any metro area with good paying jobs
>2 bed 1 bath sub-1000 sqft cuck shed
>no basement
>median household income 43k
>2 star public schools
>majority in public school are on free lunch
>27% with a college degree
>69% white

yeah you really made the city fags jealous with that one

>>52986923
Some general advice
- volume of sales collapses much more than price in a crash
- the housing market is much more localised than you may think it is
- different tiers of the market can act in very different ways
- In a crash house building dries up until the market picks up again (which it inevitably does when supply is choked), new builders don't like dropping prices and when they are forced to do that by market conditions they simply stop building

I would not be buying for the next few years, the absolute best you can expect is a sideways market, *UNLESS* there are some very specific local factors that can overwrite any general adivce (i.e. huge public investment into an area upcoming, new transport links, an area having a much faster growing population for whatever reason, etc).

For an entry point I would be looking for something like volume starting to pick up, interest rates coming down, or any new government schemes being announced to prop up the housing market (common here in the UK, not sure about the US)

>>52990617
People fail to remember that houses literally have a worth. Like an actual, tangible, "the house is worth this much in materials and resources" worth. Obviously location is a lot. But there are limits to location, limits that investors and buyers alike have completely ignored and sped right past, all based on the core idea of "well the line will go up and will offset any costs"

Most of these new homes that were built in the past 5 or so years have been nothing more than an equivalent of Chinese ghost cities with their paper skyscrapers. Barely designed to be lived in, and only a place to exist to park money. If the paradigm switch occurs where homes are no longer a place to park money and houses are sold based closer on their actual worth, with prices deteriorating as a home falls apart instead of the opposite where we were last year, anyone who bought within the last decade+ will be in for a rude awakening.
Investors will cringe at the idea of buying a home because that means in order for their investment to turn, they will have to spend even more money, which they don't want to do, which will completely tank demand.
Truth be told, there's plenty of homes for people to live in, the demand has been investors and line go up types. There's entire plan-o-home areas that are completely desolate, nobody actually lives in the homes. And once they lose this belief, it will all come crashing back down to reality. I could see a decade of gains being wiped out at the end of this if even most of institutional investors exit the market.

And yes I do mortgage a home and as others say, this is a house I want to live in, losing money on my property will not affect me, because I want to be here and I'm okay taking losses on it. However, there is a HUGE number of real estate moguls out there who are unwilling to even lose $10k and will want out ASAP. Those are the people who will crash the market, as they all kill each other on their way to the emergency exit.

>>52993846
>- volume of sales collapses much more than price in a crash
I should add that this matters because even if you want to buy just after the crash, you might find it hard to find a suitable house.. especially if there are too many sharks in the water, and people generally don't sell at a loss if they don't have to (the 3 D's being the exceptions - debt divorce death)

Best place to buy a home in Hawaii for a relative poorfag making $55k? I’ve been looking at the USDA loans, but I don’t want to buy in an area where lava could potentially fuck me.

>>52986923
top was about 6 months ago, so you're safe buying in 12 months but best is probably 18 months (but dont hold off if you find _the one_, you could miss the bottom)

>>52994123
This bear will likely take years to recover, it'll only be a good time to buy for actual families wanting to live in the house regardless of cost. Anyone looking to park money or flip houses is not going to buy any time soon. Not even 18 months out.
Once the reality sets in for a lot of firms you'll see what I'm talking about. They are large and powerful, they don't NEED housing, they will move their assets elsewhere and into other sectors.

>>52995074
even 2008 housing crisis barely took 2 years

>>52987962
>30k for 9.11 acres
>>52987957
>10k for 2 acres
>>52987859
>12k for 3.6 acres
You're clearly trying to be ironic but these are great deals for that acreage you subhuman non-white
>Kentucky or Arizona
Comfy states

>>52995098
2008 crisis had the fed turn the pumps on to soften the blow. That’s not happening this time due to inflation already being a problem. The government’s gonna let the private sector eat shit this time, and they’ll deserve it for expecting a bailout.

>>52989667
Imagine believing this in the third/fourth year of 2020
Post your liver-spot ridden hands boomer

>>52991031
Seethe ashkenazi filth

>>52994000
Thanks, you explained that really well.

Itt

>>52995098
2 years if you are only looking at a price chart maybe. volumes halved in the uk and stayed there for several years and it seems the us wasn't much different. the sentiment was shit for a very long time. again there is no point in a paper gain that exists for someone else because you weren't able to buy/sell at the best time

>>52995530
ok but price is all that matters no?

>>52994000
Good post. New builds suck, and as you said they were built primarily for profit and not for longevity. Ceiling height is as low as possible to save costs, and the materials are inferior too. As someone living in the UK, I would much rather buy a georgian house which is aesthetic and will hold its value better than a shitty newbuild with paper thin walls.. It's funny how they have to use EPC ratings and tax subsidies to incentivise people to live in these shit boxes. Couldn't care less about muh energy bills. And building these temporary homes is unironically worser for the environment in the long term.

>>52995339
there is a big difference between the Bronx and the Hamptons
if you can't see it you're the moron.

>>52997117
not if you find yourself sitting on the sidelines

>>52990617
>But they'll be 4.5-5x next year
lol population growth is touching 0% for the first time in the history of the united states
>buy land
>god aint making any more!

Americans aren't making any more babies

>>52993578
you just used chicago stats to get mad at a 90 percent white area, nice cringe bro

>>52995268
it's funny and also nonironically a good deal

>>52995381
I'm aryan master race you dirty nig

>>52987957

>>52990663
recession will only make the drop like 15% you retard. Then they blast to new highs

>>52998727
I believe in hyperinflation more than recession

in that case they're just gouging you with taxes, which is why everything I listed mogs cityfags

>>52988318
Union County looks comfy as fuck

>>52993846
>(i.e. huge public investment into an area upcoming

Like this?
https://www.zerohedge.com/markets/netflix-plans-massive-film-studio-former-new-jersey-army-base

Does this mean property values are going up? Am I unironically about to be priced out forever?

>>52995268
>AK
>Arizona

lmao

>>52987957
I'd live in a small shack in the middle of the sticks, but have the shack have stairs with a bunker door leading into a multi-level home underneath. Tax niggers can suck my dick.

>>52999173
yes if it means a significant amount of new good jobs in the area

>>52998770
its above average

>>52994000
Based knower

>>52994000
Yeah I'm thinking this is based. That is a very good take on things. I bought a house a little under 2 years ago with a mortgage payment well within my means. If line goes down for a while I simply don't give a shit, at least I have a place to stay and am guaranteed to pay less than I would renting.
I can't wait for greedy real estate investors to be left holding worthless OSB and plywood shit heaps in the middle of who gives a fuck.

damn I have to bump the only real estate thread on biz, oh well