/biz/ - Business & Finance

>>53482828
try living in australia

>>53482828
Helocs and by not being poor.

25% rule uses gross income

>>53482828
new mortgages downn 70% yoy, they arent. youre priced out until 2028

>>53482923
dave ramsey from ramsey solutions told me it's take home income.

>To calculate how much house you can afford, use the 25% rule: Never spend more than 25% of your monthly take-home pay (after tax) on monthly mortgage payments. Following this rule keeps you safe from buying too much house and ending up house poor. I want your home to be a blessing, not a curse.

>Let’s say you earn $5,000 a month (after taxes). According to the 25% rule I mentioned, that means your monthly house payment should be no more than $1,250. (That includes the principal, property taxes, HOA fees, etc.)

https://www.ramseysolutions.com/real-estate/how-much-house-can-i-afford

>>53482923
>>53482939
also i've run the numbers and technically i could swing a $250k home right now on my poorfagged $100k/year salary, but it would cut my monthly savings rate in half, which leads me to believe it's a horrible idea.

>>53482948
consider the opportunity cost of dumping money onto negative return savings account (negative when considering the cost of current/future inflation against todays dollars left sitting)
compared to using those dollars to purchase a primary real Asset like a home

muiltuipply that that by the factorial of whetevr your losing by paying rent (literally paying to buy someone else a real asset and earn money off of renting that real asset to cucks)

you might want to reevaluate some things

>>53482828
You guys have $300k houses? $300k houses without niggers?

>>53482991
Consider the opportunity cost of dumping $100k into a place then another $3800 each month just so you can have 4 walls, a roof, and take a shit in a toilet.
All while interest rates are rising and housing peaked. Yeah I’m all set. I’ll trade shitcoins for 3 years while real estate bottoms

>>53483017
>mug interweb tokens
>two more weeks
ok genius

>>53483037
>NOOO YOU CAN ONLY MAKE MONEY THE WAY I SAY SO

>>53482991
false comparison. two years of rent is, for me, about $30k. it seems housing is primed for a 10-20% downturn or $25-60k loss on a house valued at """$250k to $300k"""" today. i would come out ahead by continuing to rentcuck, as i wait for prices to come down.

i base this analysis on the abject unaffordability of housing per my OP >>53482828. prices even as late as december 2020 were fair, but the cost of a mortgage has nearly doubled since then.

>>53482828
Housing is priced in other houses. It's a bubble.
Interest rates will pull it down, but there is a lag.

>>53483037
someone bought the generational real estate top, sorry you will be in your cuckshed 20 years LOL

>>53482828
Most starter homes are 400k in mcol metros now

>>53483269
cool so that's about $3.4k between mortgage, PMI/MIP, taxes, insurance. $13.6k/month post-tax if you follow 25% rule, or about $200-220k/year pre-tax income.

>ITT rentcucks cope and seethe
when your rent gets doubled over the next few years and you can no longer afford it, I'll let you pick cotton in my fields in exchange for a cot to sleep on in an old used milsurp tent out under a tree in the back 40

>>53483336
Yeah I make 80k and only have 60k saved for a down payment. I guess I have to continue throwing away 20k on rent for the foreseeable future since housing is insane. How the fuck are people buying right now? Orlando is still hot with cash buyers Holy fuck. I make above average wage and can't afford a starter... Like not even half of one...

>>53483463
house nigger mentality

>>53483495
it were a joke stranger.
i wouldn't want anyone living on my property.
i have no interest in being a landlord right now, maybe never.
i bought a house at a decent price before the latest kikery happening

Six-figure salaries are way more common than you're making this out to be. Perhaps you're just an underachiever.

>>53483464
It’s from these “mom and pop” investors with 85 units who pull out equity and go all cash. The numbers don’t really work but they have to keep the ball rolling anyway. This isn’t the first time in history that this sort of thing has happened and it won’t be the last. Pigs inevitably get slaughtered

>>53483658
i understand why you're saying but region specific household income distributions say otherwise. if a shitbox starter home requires an 80th percentile household income to comfortably afford, then something is obviously wrong. consider that these household income distributions are weighted toward mid or late career families -- these aren't the types of people who are looking to buy starter homes, as they already own homes.

>>53483658
If you're solo making 6 figures you're in like top 15%. If under 35 it's like top 5%

>>53482828
>25% rule

LOL, it's 50% now and has been for at least 5 years.

>>53483006
Pick a blue part of the map.

>>53483932
Source?

>>53483336
Your math is shit and that's why you rent

$400,000 house
$80,000 down (20%)
$320,000 mortgage
@6% = $1919/mo
Taxes ~3000/year, $250/mo
Insurance ~600/year, $50/mo

$2219/mo

50% of income = 53k/year

Average single family home is $2018/mo to rent

Also, just buy outside the metro area and get a USDA loan for 3.5% with no money down. Government is subsidizing you Zoomers to live 10 minutes outside the suburbs and you refuse to even consider it.

>>53485022
i didn't realize the income limits for this were so high, you're eligible in some counties if you make less than 135k holy shit, thanks anon

>>53485072
Yep. Bought in the Midwest making 83k/year. Limit was 89k/year.

>>53482828
>literally how the fuck is anyone buying a home right now?
they're selling and moving. No one's buying houses. The prices have to drop otherwise society will collapse. Landcucks are seething over this basic fact

>>53485022
>$80,000 down (20%)
no one puts 20% down. the average down payment for first time homeowners was about 7% last year.
>@6% = $1919/mo
more like 6.2%, i say this with an ~850 goyscore.
>Taxes ~3000/year, $250/mo
more like 1.5% to 1.75% of purchase price near where i live (southeast PA.)
>Insurance ~600/year, $50/mo
maybe 20 years ago. it's $1000-1400 a year today.

>>53482828
>>25% rule
Herp derp better follow this ONE rule and continue being a rentcuck throwing money away on rent because some boomer retard said so derrrrrrr

I hate rentcucks so much its unreal. They are all incredibly retarded. I would dump 50% of my gross income unto a mortgage if I had to in order to not rent. Why? Because about 30% of my "rent" goes into a piggy bank via equity, I get to write off my mortgage interest which saves me literally thousands of dollars a year, my home increases in value by about 3% every year, and my "rent" never goes up (and don't even @ me about "property tax" going up - as if an average increase of $10/year is anything like the increase you'll experience with rent)

Rentcucking is so incredibly retarded. Your rent goes up perpetually, you're paying your landlords property tax, you don't have tax deductions, you don't have equity, and you retards all have to sign leases to don't give me that "freedom to move" bullshit. No matter which way you spin it, you're retarded for renting

>>53484942
>blue part of the map.
fuck off.
we're full
(unless you're white and have a job)

>>53485169
>they're selling

No they're not. Volume has decreased for 12 consecutive months.

The refusal to sell is why the market isn't crashing. People are sitting on 3% interest rates or paid off homes and choosing to rent them out because purchasing power is restricted right now to only those with cash.

>>53485248
based responsible property owners

>>53483463
And when you lose your job in the housing crash I will pick up your foreclosure for cents on the dollar

>>53485279
>housing crash
>TWO MORE WEEKS!
You Qtard Facebook boomer rednecks were saying the same thing in fucking 2020 when rates were 2% hahahaha kill yourself faggot

>>53485199
>no one puts 20% down

Got it, so you're a whiny broke Zoomer who is bad at math and doesn't have any fucking clue how much money people have after a 10 year bull market.

>>53485296
Except it’s dumping right now?

>>53485305
>homes increase by 50% in 6 months
>decrease by 20% in the proceeding months
>"ITS CRASHING!!!"
kill yourself retard. See >>53485248 then learn basic supply/demand principles you braindead nigger retard

>>53485333
>It’s just a healthy 20 percent correction

>>53485303
i work in accounting, retard.
>The typical downpayment for first-time buyers was seven percent, while the typical downpayment for repeat buyers was 17 percent.
https://cdn.nar.realtor/sites/default/files/documents/2021-highlights-from-the-profile-of-home-buyers-and-sellers-11-11-2021.pdf

>>53485347
that's normal/healthy for this ultra clown-world we are presently living in

>>53485379
this is cope. If you actually believe rising food costs and layoffs are bullish for housing you’re high

>>53485347
T-minus 2 days until you literally piss away hundreds of dollars, never to be seen again, ever.

>>53485405
>2 more days until the market goes back up 30 percent. The economy is strong

>>53485359
And you're a shitty accountant who can't afford a house because you don't make enough money, don't save/invest enough money, and don't know how to do math, which is why you quote 2 year old data that uses words like "typical" instead of "median" or "average".

>>53485022
>53K/ year

Is that gross or net?
If gross(which is for most people) then they won't have much money for anything else.
If net, then they won't have much money for anything else.


>just work all your life to pay the house bro, no vecation, or enjoyment, and when you are done sell it so you can pay your retirement community living.

>>53482939
I did the same even without knowing it was a rule. Glad i made the right decision.

>>53485431
good morning, nigger retard. do you understand what confirmation bias is?

>>53485429
>I'll just pretend you think this thing to cope with being a pants-on-head retarded boomer redneck rentoid!

>>53485487
so let me get this straight, you’ve admitted to being down 20 percent and all of my mining and food and energy sector investment are up 20 percent in the past few months and you think you’re the one calling ME retarded? Wow… I’m impressed

>>53485398
that's not what i said at all.
jfc you are retarded with your projecting some times

>>53485526
>so let me get this straight, you’ve admitted to being down 20 percent
>50 minus 20 equals negative 20
Hahahahahaha holy shit what a fucking retard. How the fuck does someone try a strawman and actually manage to have it backfire and expose their total and complete retardation? That's actually impressive. You're like on inception levels of idiocy

>>53485557
It means I’m smart money. I’m at the tail beginning of the next bull market and you bought the top. No need to be sad :(

>>53485585
>you bought the top
>"for my next trick, I'll use my mental illness to imagine things that didn't really happen to COPE with getting shit on!"
>"also, I'm really really smart!"

>>53485617
So how is your asset dumping 20 percent in a month good?

You’re def at return to normal

>>53484942
I'm from a deep red area.

>>53485634
>So how is your asset dumping 20 percent in a month good?
I never said it was, Jesus fucking christ, do you only know how to argue in strawman? Literally every single one of your posts is strawman after strawman and you're too retarded to even notice hahahahaha

>>53485658
And every one of your posts is ad hominem attack after ad hominem attack? The difference is that I’m very relaxed and chill about the situation. You on the other hand seem very anxious. Hmmm

>>53485676
Calling you a fucking retard isn't "ad hominem". Saying your point is irrelevant because you're a fucking retard would be ad-hominem and I have yet to do. Holy shit you are you unironically actually retarded. Are you brown?
>Heh, I may be a total fucking retard but atleast I'm a CHILL total fucking retard

Now go ahead and deflect and begin talking about logical fallacies - anything to take the spotlight off the fact you are literally incapable of having any sort of coherent argument without using some elementary level logical fallacy

>>53485721
> Calling you a fucking retard isn't "ad hominem".

Umm that’s exactly what it is though? Reminder you’re down 20 percent and I’m not. Btw this is a red herring fallacy - you’re trying to change the subject away from the fact you’re down 20 percent

my stats:
>305k house
>approved for it while making 75k
>got a new job at 105k soon after buying
>extremely comfortable, able to save nearly 50% of my income, and eat well

My rent is 770 in a very expensive city, for my country that is in Scandinavia. (I get it via some carpenter unionship). Two bedrooms like mine in my area runs for 400k if you want to buy. Ive got a 5 minute drive to my workplace which I really like. I dont think I could strike better balance than I do now without either going house poor or moving into nowhere, and seeing how much you pay in house taxes, rent and other fees when owning, I dont think I could do it much cheaper without going severely down in quality.

I think I might literally never own anything and just focus on saving around 50% of my net income monthly and throwing it into memecoins and boomerstocks for the rest of my days

>>53482828
fake esg funded “jobs” in tech

>>53485739
>Umm that’s exactly what it is though
Hahaha no, it's not you fucking retard jfc imagine being this ignorant when Google search is literally one click away.

>"Reminder you’re down 20 percent"
>go up 50%
>then go down 20%
>"DERRRR YOURE DOWN 20% HURRRR"
Kill yourself retard

>>53484950

Nigger you have an entire internet to do research. I can't believe how fucking stupid and lazy you are.

>>53485842
>go up 50 percent in 6 months
>down 20 percent in a month

Hmm….

>>53483464
>How the fuck are people buying right now?

it isnt wagies that are buying it is forgiven ppp loan check receiving boomer “small business” people are still collecting from the pandemic. after all never forget inflation was caused by unemployment checks that ended years ago.

>>53485869
>50 minus 20 equals negative 20 hmmmmmmmm
Kill yourself retard. Maybe in 2 MORE WEEKS muh market will crash!

>>53485884
Umm sweetheart, my point is that in another month it will be an additional 20 percent. And then another will be another 20 percent. I am not trying to bully you. I’m just trying to help you with my own life experience. Soon you will be in the negative - I suggest you sell.

>>53482828
We are literally entering 2008 again
>giving out high intrest zero down RD loans to everyone with an income
>no one can afford it
>bubble pops again

>>53485918
>just FOUR MORE WEEKS
Hahahahha keep shifting those goal posts retard

>>53485941
high IQ individuals see the line going flat at the end. We call that “flatlining” AKA a heart attack on an EKG

>>53485948
>you see, the market hasn't REALLY even crashed 20% yet but you see that line? Heh, yeah, it's about to crash FORTY PERCENT despite supply dropping every month for free last 2 years

>>53485199
>last year
2020-2022 were not real years in any market. Everything still is, but was grossly over fair value

>>53486025
But you literally said it dumped 20 percent lol. This buyers remorse is insane. Get help. I feel bad for you man. :(

>>53486108
>quote you
>"BRO YOU LITERALLY SAID IT DROPPED 20%!"
The sad part is you're not even trolling, you're actually this stupid. This is why you rent. When the stars were aligned and homes were cheap and rates were at 2%, you didn't buy. You will never buy. You will always be a rentcuck.

>>53486187

But you don't even own you just come on here to troll. Nigga you live with your mom.

>>53482828
>Starter home
This no longer exists.

>>53486268
seethe incel

>>53485247
Im still coming
>>53485645
me too

>>53486326

And what exactly does that prove? You still live with your mom nigga.

>>53486493
Just get rekt incel. Not everyone is some 16 year old faggot like yourself.

>>53486326
please refrain from shitting up my thread any further

>>53483463
you’re quite delusional. do you really think wages will increase for people to afford those rents? music has started to skip, don’t be caught unaware when it stops

>>53486569
Your faggy thread would be in the archive if it wasn't for me

>>53485431
are you actually so deluded you think average Americans are buying houses with cash…?

>>53486326
LOL why did you hide the year? What are you afraid of?

>>53486637
>derrrr why did you remove information from a tax document you posted on 4chan hurrrrr
Kill yourself retard. I should have removed the entire date field.

>>53482828
>buy $75k-$150k condo using mortgage
>pay it off quickly
>sell condo
>use proceeds to put large down-payment on house so that your mortgage is much less per month
I thought this was common knowledge

My brother-in-law works for JPM. Says (((they))) will introduce 50 year mortgages by 2024.

Longer mortgages, lower monthly payments, prices are allowed to stay high.

>>53486326
Nice. What rate did you close on?

>>53486739
Literally nobody does that. This post reads like some 14 year old is testing the waters on his financial knowledge and using the feedback to determine if he's intelligent or not. Newsflash: you're retarded. I'll let you in on a little secret: every condo in existence has HOA fees.

>>53486943
I personally know at least 5 people in my age bracket that have done this successfully, and am doing it myself
the point is to do it quickly, you pay maybe 10k-20k in HOA fees over 5-7 years but get it all back by having much better mortgage terms and paying it off sooner to avoid interest

it works well if you can't afford an assrape mortgage on a 400k house but also don't want to lose money to rent

>>53482865
>Helocs
>and not being poor
I have some bad news for you anon, Helocs are for poor people. You didnt fallcfor that scam did you?

>>53482828
Stop being poor, faggot. I'm not even in tech and I'm taking home $180K. My wife snags another $130K.

$300K for a nice house is extremely affordable. Fuck, I bought a $300K condo as an underpaid postdoc and I didn't have to compromise on vacations or diet or anything.

>>53486025
>spec investors buy up every house to rent out and airbnb
>withhold some houses from the market to artificially drive up rent prices
>wages havent gone up despite record inflation
>nobody willing to nor can afford to pay $1600 a month for a shitbox studio
>nobody renting airbnbs anymore
>houses and apartments sitting empty everywhere
>within 2 years millions of airbnb faggots relist their house on the market or get foreclosed cus they cant pay the mortgage without people vacationing in their house 25 days a month
what do you think will happen to the market when it fully sets in to re investors that theres a recession and nobody can afford to be using their "luxury vacation rental" anymore?

>>53487335
shut up nigger

>>53487361
Not an argument

>>53487348
>"derrr what do you think us going to happen in this totally retarded made up scenario I came up with huh!??"
This is what happens to your brain when you spend your adolescent years LARPing at DnD. Reality becomes irrelevant, you exist outside of it.

>>53487380
my argument is that you're a faggot humble bragging about barely affording a home after a PhD and a post doc

>>53487397
>over a million Airbnb homes in america
>insipient recession
>countless youtube and tiktok "flipper" faggots who have 30 to 40m in debt at any given time
>countless niggers taking out HELOCs to buy a second overpriced home by leveraging their first overpriced home
Make a thread in 2026 when you're underwater on your retard buy the top mortgage, I'll be waiting

>Yeah bro don't spend more than 25% of your income on your mortgage
>ignore that rent is 50%+ of your income and a mortgage payment would be 30-40%

>>53487059
>I personally know at least 5 people in my age bracket
No you don't
>you pay maybe 10k-20k in HOA fees over 5-7 years
That's literally between 10-20% of the value of the condo.

In 5-7 years on a $100,000 condo, you will have between $8,000-12,000 in equity @ 6% interest with minimum payments. Wow, great job anon
>I'd just make higher monthly payments!
Then you could literally buy a home where the mortgage is what you plan on paying per month on the condo and you would end up with roughly the same amount of equity over 5-7 years and you're also not wasting money on an HOA. Condos are also incredibly slow to sell.

>>53487497
>what!? You think my retarded made up scenario is retarded!? Well here! Have a made up tiktok reference along with some more made up niggerbabble!
You people are all so mentally ill. You live in some alternate reality that exists only in your head

How many more years until it actually crash? The number don't add up, and it looks nothing like 2008.

>>53482828

I doubt most normies follow the 25% rule.

Also 5% is a pathetic downpayment. Save up closer to 20% first and your mortgage payment will be more manageable.

>tfw all the virtue signaling in the world, but distance from niggers will always come at an extreme premium when it's illegal to segregate otherwise

>>53487733

>>53487733
Literally never. The factors which led to the 2008 mortgage crisis - retarded overlending by banks and packaging subprime mortgages into prime CDOs- were banned. Also, people are no longer retarded enough to buy adjustable rate mortgages which was a huge contributor to foreclosures. High interest rates are going to keep housing supply down and thus prices up.

Just look at this retards graph >>53487808
He posted it thinking it was some "clue" into an inevitable crash but unfortunately for him, he's retarded and doesn't know how to read data.

Low supply/high demand = high prices. Supply is not going to increase until rates fall back below 5% - and by then homes are going to be 10% higher than they are now. You will NEVER see home prices where they were in 2021, ever. Literally the best you can hope for is that home prices don't continue to skyrocket and rates drop. But a crash? Not going to happen. Sorry rentcucks

>>53487808
Sales volume have already reached 2008 level, yet foreclosure is still far from it. Not to mention the price crash. So at what point will the craspjvhr4h actually happen?

>>53487911
you're confusing things. foreclosures don't push prices downward. in fact banks are notoriously shitty to buy from, because they will let a property sit on market for years and REFUSE to lower price or make ANY concessions even if the property is a fucking niggerdump in need of repair to even reach legal habitability standards.

>>53485022
>Taxes ~3000/year
triple that for illinois

>>53487956
It's an indicator of the amount of home owner in financial distress. This is foreclosure start, as in missing multiple payment on their mortgage already. It's an automatic process. It's not finished foreclosure where the bank took over the house and the owner evicted.

While the bottom started in 2008 and didn't peak until 2011~, the price difference from 2008 to 2011 is small. Yet, given the drop in sales volume, we should be seeing the bulk of the price drop already. If we go by 2008.

The amount of coping by one guy in this thread is palpable

>>53488038
>be you
>reply to me who wasn't even talking to you to begin with
>get BTFO'd
>don't reply
>come back to post this
Just take your L and leave the thread

>>53488024
>It's an indicator of the amount of home owner in financial distress.
there doesn't need to be a scenario that is identical to 2008 to make prices move downward. 2008 was entirely different from today although they share a characteristic rapid run-up in prices.

>>53487908
>Low supply/high demand = high prices.
hello again, nigger retard. volume (demand) has dumped, as shown in the chart. publicly traded builders are disclosing record cancellation rates in Q4-22 in the SEC filings e.g. KB Homes has a ~70% cancellation rate.

>>53487908
Adjustable rate mortgages are more common than you would think. And prices where I live are already crashing. You got people listing shit for less than what they paid in 2015.

>>53488084
Hence why I asked, how many years until it happens. It's a strange situation. Buyers are reluctant to buy due to higher interest rate, while sellers aren't selling because they're comfortable in their financial situation and have locked in at a historic low rate.

The missing ingredients that differs it from 2008 seems to be financial stress. So what will happen with the real estate market? Permanent crab until the feds do something?

>>53488105
>volume (demand) has dumped, as shown in the chart
Did you even read what you posted? "As buyers continue to face limited inventory"

Home sales are not down because of a lack of buyers - they are down because of a lack of inventory - hence home values are not "crashing". Cancelation rates are high because the fed has never in the history if fucking ever raised rates so quickly. Until supply begins to outpace demand, prices will remain high. How you retards fail to understand this basic economic principle is beyond me. You are grasping at straws so hard it makes me think you're desperate to either justify rentcucking or are praying for a "crash" so you can get a home. Either way, I'm LOLing at you tards missing out on low prices and interest rates that you will literally never see again

>>53487793
you fell for the psyop

>>53488160
>So what will happen with the real estate market?
you ever see a retard boomer try to sell a piece of shit """classic car"""" on jewbook marketplace for $50k when it's worth $6k? and it just its there for the next decade until this kids put his retarded ass in a nursing home and sell the car for fair market value?

that's probably not too far from what will happen with real estate, although it'll be a 10-20% discount at best. if sales volume (demand) dumps through the floor prices will come down if sellers need to sell for the usual reasons: divorce, death, work relocation, downsizing. the """"muh EVERYONE is waiting to buy"""" thing is a total cope because most buyers are poorfagged to death with a 7% down payment >>53485359.

>>53488160
the financial atress is coming with the job layoffs, tech was the first of many in the next 2 years. Doesnt matter if you have historically low interest rates if you still cant afford the mortgage.

>>53488204
>"As buyers continue to face limited inventory"
i'm not even kidding, do you have an adult learning disability? you are living proof that success in real estate is merely being in the right place at the right time and meeting bare minimum credit standards to take out a 95% LTV loan. you are honestly one of the dumbest fucking nigger retards i have ever had the misfortune of interacting with on this godawful shithole.

>>53488264
>>>"As buyers continue to face limited inventory"
Nigger, that quote is literally from the screenshot you posted hahahahahaha holy shit this is one of the hardest self-owns I've ever seen on this site

>>53483932
Shit I'm rich!

>>53488160
>Hence why I asked, how many years until it happens. It's a strange situation. Buyers are reluctant to buy due to higher interest rate, while sellers aren't selling because they're comfortable in their financial situation and have locked in at a historic low rate.
>The missing ingredients that differs it from 2008 seems to be financial stress. So what will happen with the real estate market? Permanent crab until the feds do something?

I think it depends on a recession and rising unemployment. If there is only a mild recession, we likely go sideways. If unemployment goes north of 5%, and we've already seen layoffs outside of Big Tech, well, interest rates are already at a level to cause affordability issues.

One difference today versus 2009/10, is that's less room for rate cuts due to various geopolitical & energy issues which are acting as inflation pressures. I don't know what will happen, it's a coin toss. Very smart, calm, rational market commentators on both sides of the debate, some calling for a GFC-style housing correction/crash, others think we go sideways moreorless.

>>53488308
I personally think it'll be a more nuanced situation with select market absolutely shitting the bed. And others basically being stagnant, overall bring a mild correction than a crash.

Bay area, Florida, and Texas metro area already shows that sign while other areas haven't changed at all. So the crash will be localized to specific industrial zone I guess.

>>53488384

As a general rule the areas that inflated the hardest will also crash the hardest. But highly desirable areas will always retain value.

>>53488384

Canadian commentator named Danielle Park (http://jugglingdynamite.com/)) who is interviewed in various places, thinks we're headed back to 2019 prices at least.

So say $320,000 in Summer 2019 plus inflation = $370,000 today, or a 21% drop from the current median house price of $468,000.

But one wrinkle with all this, is interest rates were around 2% in the middle of 2019, so for housing to be as affordable today as back then, prices would need to overshoot maybe to $325,000 or so.

>>53482828
zoomers are so fucked they better be buying crypto like its the end of the world.

>>53487908
>You will NEVER see home prices where they were in 2021, ever. Literally the best you can hope for is that home prices don't continue to skyrocket and rates drop. But a crash? Not going to happen. Sorry rentcucks
What happened in 2008 is no where near the same today. There is no crash. People qualified for loan payments with verifiable income. At 3%APr they can lease the fucker out or just sell it and still make a profit.

I can only see a drop in prices in 2 categories:
>Boomer over valuation. Live across st from one. Listed 450k. Worth 300k. Would be worth a lot more if they updated, but they are lazy, so the house will sit on the market for years more.
>Area specific downturn. Overbuilt or undesirable areas.

I keep seeing an anon(s) posting new housing cancellation stats. Of course. Interest rates went from 3 to 6%. Broke MF's won't qualify for the new payment. It's an irrelevant stat.

Current owners won't sell a 3% APR house unless they trade up. More likely to not move. More likely to lease the house than sell it.

>Muh 20% downturn/devalue/correction. I don't see that in my city or other normal cities. I see boomer over pricing that is 'now reduced'. But the over all real value is still the same once you cut out the garbage boomer stats or other outliers.

Current/future prognosis:
>3 to 6% shift effect on the market. Number of people that can afford a home has dwindled due to higher payments. This will be the new norm. Give it 2 years to settle in to the consumer mind.
>Boomer price reductions for shitty houses people still won't buy.
>Stagnant market. Nobody will sell at 3% note. Nobody will build due to construction costs.
>Inflation. It's not going anywhere but up. Food, construction costs, houses, your old 1980's car.
Everything will cost more over time.

>>53482828
>starter home in a neighborhood free of coonery and buffoonery 50-100k€
>10% down, 35 year mortgage @ 4%
>mortgage 500€ to 700€
>PMI/MIP -
>taxes 300€/year
>insurance 150€/year
>550€ to 750€ a month
>25% rule ==> 2200€ to 3000€/month post-tax income to comfortably afford this
>~35k€/year post-tax income
>under median

this is nordic

>>53486571
First of all, it was a joke. But, i was specifically postulating that people *would not be able to afford the rents*
your reading comprehension is poor

>>53482828
>5% down
found your problem.

>>53482991
>savings account
RE, even in the post-GFC QE/ZIRP era, preformed much much worse than equities. Even if you'd have bought the bottom in 2010, your down payment alone thrown into QLD would be more than your house is currently worth

>>53487335
>I'm not even in tech and I'm taking home $180K. My wife snags another $130K.
you're lying

no one outside of tech or elite tier STEM roles makes that kind of money

>>53484929
>50% DTI
That's insane. DTI is GROSS income. But the housing market is healthy! Safe ass houses, safe ass houses! :^)

>>53485941
>muh permanent high plateau!
landbaggies are boomer tier retarded

>>53489424
Been that way literally since the housing market existed. You tin-foil hat Qtards just want the world to burn so everyone will be as miserable as you are lol

>>53487397
>recessions no long exist! new paradigm!

>>53489460
>25 copeposts by this id
Fed giveth, Fed taketh away.

>>53488207
You posted this shitbox the other day and got laughed out that thread too. Paying 45k for a 40 year old trailer is fucking retarded. The only reason you would do that is if it came with shitloads of land where you wouldn't have to live by anyone, which judging from that picture isn't the case here.

>>53486943
That's exactly what I did.

>>53482828
>literally how the fuck is anyone buying a home right now?
People selling their HCOL homes for 1.2 million and buing a home a LCOL area. A 400k home in a gated community in the south is a steal to somebody that came forum somewhere like DC or NYC. There are small towns in SC that are going from shitholes to boomtowns because of these people.

>>53489470
>>53489579
Pick any 5 year period from the last 100 years. In 95% of them, average home prices have increased

Cope
Seethe
Dilate

You will never own a home

>>53489738
This.
Have a house in a wealthy white Southern neighbourhood.
Bought it when it was bombed out with bullet holes in the door and crack pipes under the floorboards. Now it's worth 1Mil and all the people in the hood are transplants
>Boston
>NYC
>SF Bay
It's cheap to them.

>>53488264
>new houses

Lmao, that's like 1/4 of the market, and only growing because the resale market keeps shrinking

>>53489340
I have a PhD from a top university and work in R&D at company that manufactures tangible products.

>>53489772
>white Southern
Doesn't exist. Every southern neighborhood is at least 15% brown.

>>53489871
Block by block in my city. And micro suburbs. 'White islands'.
Blacks are priced out post gentrification. But, they do come to the whiter hoods to commit crimes.

>>53489772
Doubt. Unless you're in Nashville or Naples, and Naples is full of Cubans calling themselves "white".

>>53489918
Like I said. Block by block.
>Main street is 2-3 million
>Next 2 blocks 1M to 400k
>Next whatever blocks black ghetto.
And suburbs that are only 2 sq mi. Or less.

>>53489819
shut up nigger

>>53489953
So you paid a million dollars to be 2 blocks from the ghetto?

>>53489980
No. I bought at ghetto prices and fixed it myself. Now worth 1M.

>>53489956
Stop being poor, faggot.

>>53487793
the nigger tax is sky high in central Maryland. Any house under $750k is in the black part of town

>>53489746
>26(!) ThisTimeItsDifferent posts itt
The absolute state of landbaggies. You're that 2010 buying faggot, right? You know SOXL did a 100x peak and is still sitting on a 30x, and QLD did a 50x/20x in that time frame, yes? Your down payment alone tossed into leveraged equities would be worth multiples of your flyover cardboard boomerbox. And before you cry about leveraged equities, your whole thesis is that the Fed will never stop the exponential brrrrrr, in which case SOXL/TQQQ or USD/QLD will continue to crush boomerboxes. Cry. Seethe. Cope.

>>53490530
>look at these random stocks that did good!
>look at these random numbers had you chose them you'd be a millionaire pfftttt you're so stupid for not picking those numbers!
Kill yourself retard

>>53490630
>2x nasdaq etf is an exotic asset to the landbaggie
The absolute state.

>>53491022
I think I'll just BTFO you the old fashion way. Post key fob. Don't give me this "wahh only poorfags buy cars" cope. If you made all these great investments and are rich, post key fob.

You won't. Why? Because in reality you're some weird little 4chan incel who, at this very moment, is a mere 10 feet in diameter from a dozen other people in his multi-family shitbox. So please, reply to this post with no pic attached to just prove me right, lil rentcuck

>>53491346
>key fob schizo
hello retard

>>53491399
Oh look, it's the /totalfuckingretard/ who said a quote HE POSTED was come from "one of the dumbest fucking nigger retards i have ever had the misfortune of interacting with on this godawful shithole" hahahaha

I love how you finally come back after BTFOing yourself so fucking hard only to participate in off-topic shitposts. It's quite clear you're a poorfag rentcuck

>>53489579
This explains it pretty well:
https://youtu.be/ah2tbJg9_MI

>>53489738
You can buy literal mansions for under 400k in Bay City.

>>53491737
LOL I posted that exact home a few weeks ago here.

>>53491861
I've been posting about Bay City here quite a bit. Maybe you saw me post about this one too?

>>53489683
oh shit, you mad bro