/biz/ - Business & Finance

>>53886458
how will i take out a loan at this rate!!

>>53886458
My gf suddenly wants to buy now that prices are at an all-time high. Women are retarded.

>>53886458
This time is unironically different

I mean, if you already own and locked in a mortgage rate it's pretty poggers desu

>>53886458
>houses ONLY go up
>buy now or you will be priced out!
>people can't buy them in the future
>but people will buy mine in the future
>but i won't sell it
>but I could sell
>and make so much money

Imagine thinking another black swan 2008 event is going to happen. Rentoids will be seething for the next decade while real estate only increases

>>53886458
I'd short that chart.

>>53886510
kek

>>53886516
what was the black swan of 2008? was it stocks? technology? a virus, war??? I can't remember what caused it

>>53886492
Not as retarded as purchasing real estate with a girlfriend.

>>53886563
Lehman Brothers going under

Yeah I may have locked in that 3% rate by overpaying by 50% and I'll never be able to sell for a profit (so I'll never be able to move for a better job, or be closer to family, or put my kids into a better school, or sell in the case of a major life event like being laid off or becoming physically disabled), but at least I have my home sweet home full of live laugh love. :)))

>>53886516
>that poorfag who has considerably all of his mid 5 figure net worth tied up in a plywood box on a 30 year payment plan

>>53886563
Government passing law to lend out ARM to minorities who don't qualify like candies. They then insured these loans (with mostly AIG) and sold these loans as high grade MBS. When economic condition went bad, it triggered a chain of events. People defaulted on their mortgages. AIG don't have enough money to cover all of the loans, due to the significant volume of default. And banks (Lehman) who held these securities belly up with no recourse, since AIG can't pay.

>>53886458
Bongistani here. I bought outright last year in a super comfy quiet town. Fuck em all. Fuck the landlord jew, the mortgage jew and your interest rates.
Sick my dick.

>not just making $8k+ per month with a $2k mortgage payment

>>53886458
Look at the UK. US housing can get much, much worse.

>>53886724
take home is 7,791.42 and mortgage is 1,561.93

>>53886458
Imagine getting a decent home without a cash offer

>>53886492
If you buy real estate with a woman then she is going to own it by herself.

>he didn't buy a home when interest rates were at its all time lowest during the plandemic
lmao

Just bought a nice house in a comfy town on the Oregon Coast. Paid in cash, inspection found no major issues. I can work a lot less, and spend a lot more time relaxing on the beach, now that my monthly expenses are so low. Have fun with your mortgages when mass layoffs start!

>>53886458
My mortgage is $580 a month.

>>53887362
Mine's €200.
but I pay €400 a month in other fees so I'm basically a renter except I can't get kicked out by the owner because he "wants to live there now".

>>53887362
Mine is $1400 with tax and insurance included. Bought the house for 269k 7 years ago, my neighbors house are selling for 450k-500k.

Can't imagine how much I will be paying in rent if I didn't buy when I could.

>>53886458
Controversial take:

Imagine not owning a home by now (protip: it wont get more affordable)

>>53886458
Why do I care if the value of something I live in and use daily fluctuates?
It's not an investment anon.

>>53886510
>bitcoin only goes up
>buy now or you will be priced out
>people cant buy them in the future
>but people will buy mine in the future
>but I wouldn't sell it
>but I could sell
>and make so much money

>>53886492
If you haven't learned by now women wanting in is a top signal, the best top signal that has been consistent across-the-board.

I remember in 2009 me and my dad were looking at houses, not even kidding, beautiful houses in great neighborhoods selling as low as $150k. My mom was so distant on this convo. She didn't want to move. It was a recession. It was this it was that. But now my commute is gonna be longer. Blah blah. I was still in high school but I wasn't retarded and my dad must have known too. She was so skeptical and so put off by it so they ended up not moving. That same house we were looking at is worth like $650k now

So last year they are talking about retirement, and now my mom is super interested in buying a house. She is all gung ho she knows this person in real estate she has this connection blah blah. My dad is now the one that is like fuck that we're either gonna die here or move when the prices come down by more than half. And now my mom is bitching and whining because he won't move right now and is forcing her to wait.

Sorry mom, you are a top signal.

>>53887085
sensible

>>53886492
I've also noticed an uptick of people who never thought about owning a home before feeling like they absolutely need to buy now
lol

>>53886510
>people can't buy them in the future
>but people will buy mine in the future
This actually sums up hoomer delusion really nicely

>>53887362
there's no way your property isn't shitty, m8

>the absolute state of priced out rentoid cope

>>53888173
i have enough money to buy now, but i know doing so is like buying BTC for 60k lol

>>53886458
>house payment
Is that MEDIAN house payment, or mean?

>median income
Is that median among home buyers, or among the population in general?

>>53887022
US is much, much bigger

>>53887381
>>53887362
Whoops sorry goy you now have to get vaccinated to keep your job. Oh no, can’t afford mortgage payments (rent)? Guess we have to kick you out :^)

So what's the best way to play a housing decline, then?

>>53886458
Now do rent/income, peasant.

>>53887362
>It originated in 1997

>>53886458
>hoomers pay $5000/month in mortgage, then still have to payfag maintenance and repair
>i pay $1500 and the landlord is my bitch whenever i call him to fix something
>threaten to sue him now and then just to keep him on his toes

>>53888715
>So what's the best way to play a housing decline, then?
wait until people start defaulting, homes will start selling at what they are worth, not inflated balloon prices, meanwhile you better be making and saving all the money you possibly can

>>53886510
>land is always a good investment, theyre not making any more of it!
>people gotta live somewhere!

>>53886689
I kneel, britbro
truly the most chad move is to simply pay cash

>>53886563
Are you trolling?
If not, it was because mortgages were getting written for people with 550 ficos and no income verification, people who had zero chance of ever paying the loan...

>>53886689
I paid mine off when eth hit 4700. Thanks money skelly!

>>53886458
imagine how comfy i am cause i didnt follow the herd and moved out. I eat steak everyday. I have 10 bitcoins and I fuck my gf in my spacious room while dad is watching tv downstairs. Yeah the old man likes me. his mansion is my mansion.

>>53886458
>country wide data
>all locations are equally valuable

>>53886510 & >>53889925 but unironically. we're moving back towards a class system comprised of landed gentry and rentoid wage cucks. if youre over leveraged in highly speculative property markets, gon get rekt. if youre positioning yourself to acoomulate desirable locations youre gonna make it

>>53886458
My sister suddenly became desperate to become a home owner this year, I got fucking rugged by my parents to give her a deposit. Fucking trusted my parents with my money and they betrayed me hard. I was holding $100k in their mortgage offset account while waiting for market to bottom out now its gone and my sister is a bank slave, I'm back to being poor and have to save it up again.

>>53886458
I pay 23%. OP Is a faggot.

>>53886458
Imagine not having a fixed mortgage for 10 years at 1.5% interest. KEK. I pay less for my mortgage per month than I paid in rent 10 years ago.

another thing i noticed is a lot of home ads start off by saying "WHY RENT? BUY THIS HOME INSTEAD" lol

the top signals are everywhere

>>53890413
>Imagine not living in the US
At least you guys can get long-term fixed rates over there. In cucknada, a "fixed" rate mortgage needs to be re-financed every 5 years. The silver lining is a bunch of retards who took out mortgages on houses in the past 5 years are about to be squeezed when their mortgage payments triple.

>>53890505
that silver lining makes it all worth it, fren :^)

>>53890505
holy shit. well anon, some lucky boomer fucks over here have lifetime mortgages under 1%. motherfuckers. But yeah my first mortgage was 5% and I knew I was being ripped but I didn't have the collateral to put down a big enough deposit at the time. 3 years later our house doubled in value, and I was at 60% LTV, decided to put in for 10 years as I figured it wasn't likely to go any lower. Turns out I was right, wife happy about it too. Together we pay £400 each for a 5 bed detached house near london. Looking at buying a beach home this year, but now it's fucked. 30% deposit, 6% interest. Gonna be a long time until we see interest rates like pre-plandemic.

>>53886458
jamie, pull up a zoomed out picture

>>53886689
and a new generation of bagholders is born

>>53886458
bros I live in central Ohio and make 80k/yr. I rent a 2 bedroom with a decent backyard for $620 a month (ridiculous low price but landlords are awesome). I just started making this much money, is now the right time to buy a house? I Noticed there's been a small correction. Interest rates are still retarded but are they ever going to be 2-3% ever again ever???

>>53891093
your current situation sounds great, just keep stackin cash
the housing market has nowhere to go but down. people buying now are gonna regret it IMO

Just dodged getting fucked here in Canada, my 5 year rate rolled over from 3% to 4% last year. Good thing we got new rentoids in the basement who actually pay up!

>>53886587
>>53886680
>>53889981

Short answer is niggers and jews. As usual.

>>53888715

You laugh at hoomers that are underwater and give insulting lowball offers until one bites.

>>53891257
what is stopping a critical mass of people to just lowballing offers across the board? furthermore, if such a thing were to happen, could it happen in targeted areas and sequentially take place across the states?

>>53891346

People aren't quite desperate enough to sell yet.

>>53886492
Women are scared and only buy when the price goes up. I been telling these retards to buy crypto when it was 16k and they are only interested now that it has been pumping and is about to drop. Literally only buy when it is a sure thing cause it has been going up for months not knowing they are about to get rugged. Fucking retarded trend followers

Imagine not signing the 300 year mortgage that transfers to all your descendants for 5 generations.

>mfw I just signed a contract for new construction
>mfw first time home buyer
>mfw estimated interest is 7.5-8%
>mfw no face
there's always refinancing, right?

>>53891346
Nothing is stopping it. It just wouldn't work. When people lowball me on Facebook marketplace, I just ignore it.

What's something worth if you can't sell it?

>>53886458
That chart shows people who dont own a house

>>53886492
females literally cannot resist FOMO

>>53891643
>buying at the top
sausage-gah

>>53891643
>there's always refinancing, right?
you can't refi if the collateral (the house) is worth less than the loan unless you pay the difference. so no, there isn't always refinancing

>>53886492
good let them
full disclosure I have a house up for sale

>>53891107
Really? Any other anon back up this person's post? I'm not sure what to do with my extra cash flow. I want to invest in BTC/Stocks but my gut tells me the js are going to rug pull the shit out of it. This extra cash flow is nice though, I've been able to buy some stuff I've been putting off for a while.

>>53886492
My mom really wants me to buy a house and my dad is on board as well. They even want to give me money for a down payment. I just think it's not the right time. The problem is that rents are going up so high that neither option is great

>>53887953
This was a long read for biz, and I appreciate it. I read the whole thing, and I agree. People never respond to authentic posts. Everyone justs wants to argue, but I am responding to this so that you understand that it is appreciated.

>>53887953
>Sorry mom, you are a top signal.
kek

>>53887953
>>53892003

here's the TL;DR version

>>53886458
I got mine in 2013. Imagine not owning land.

>>53891971

i'm in your exact same situation, even down to being in central OH. renting is your best bet imo. houses will continue to slowly come down in price - but may not crash.

>>53886458
Are you suggesting to rent for 5 years? No thanks, I want to purchase my own acreage and home and not share walls with pot head loser fucks in their +30s for 5 years. Fuck that shit. Markets eb and flow no shit, but it's not all about money. Maybe for you low achieving losers this is a big deal.

>a house is an investment
>just keep renting bro
sorry anon, I don't prescribe to usury principles. A home is a place aka a temple for me to raise a family. It doesn't matter what the house costs because I'm going to be living in it for 30 years and then giving it to my kids.

Stop doing speculative investing and invest in the Lord.

>>53892260
>due to my ego i will buy at the top
have fun

>>53887953
Mom is best

>>53887930
You can buy $1 worth of BTC you can’t buy $1 worth of a house
If people don’t have access to bitcoin their lives are unaffected

>tfw bought a house in 2017

>>53892361
yeah waste my 20s burning away my money for 0% equity for 5 years to live in a shithole with no privacy and 1 bedroom and a tiny ass kitchen. Good idea

>>53892414
have fun nice bags fomo scuba mask

>>53890272
Elaborate. They straight up robbed you and you did nothing about it?

>>53886458
Owning your home is fantastic, the bank owning your home and u paying them back for it is a terrible financial move.

t. Brought a house with cash in 2021 in full thanks to crypto ponzi.

pros:
> Renovate & do whatever I please (Recently spent $20K on a solar system with a battery, last billing period the energy jew paid me $120)
> Not losing $20-25,000 a year in rent (not including utilities)

cons: have beef with my neighbour who has 4 adult kids who still live with him and see's me (same age bracket as them), owning their own house and doing w/e the fuck I want.

>>53886492
Women love buying tops. People (normalfags) always get butthurt when I say this yet they can never refute me.

Also your gf plans to marry, divorce, and have the house to herself. That's why she doesn't care about price.

>>53886458
I bought in 2020 and doubled my income since then. Rentcucks are malding but I'm doing fine.

>>53887953
Yup. I can only agree with you. Women buy tops. They're literally evolved to follow and be safe. And if that's not bad enough, they follow normalfag financial outlets who obviously aren't going to make them wise up. By the time the normalfag outlets tell you to buy, you've missed your best opportunity.

The big redpill here is that not everyone behaves the same way, financially. If you wanna be politically correct and think women behave the exact same as men, can be as good as men, etc. have fun missing the top when it's screaming at you in the face. When retards like women and niggers start getting back into buying, you know it's time to either sell or wait to buy

>>53886689
damn, you forgot the council tax jew and the stamp duty jew and the tv license jew

>>53893034
Damnnn
I recently got my gf a Gucci bag with the USDT I had and soon she is waiting for me to buy an IPhone. Paying with crypto is nice but looks like I will get rekt if I keep on spending.

thinking about buying an apartment in langkawi. the sea is infested with box jellyfish so it keeps the surfers and normalfags away.

>>53893142
Paid 5k stamp duty. Had no choice ser.
20k for a second property can you believe that kike shit.

>>53889894
>meanwhile you better be making and saving all the money you possibly can
Thus driving up inflation, thus driving up the nominal "what they are worth" value?

>>53892260
The baggie’s creed

>>53886492
Still waiting to buy bitcoin at 3 grand I see

I just bought a $540k home close to downtown in a big metropolitan city. 6 months ago, this would have been a $580k+ home, but with interest rates coming up, it dropped in value.

My rate is 6.35% unfortunately, but I fully plan on doing a refi...I'm just worried if the market crashes I wont be able to refi until the value of the home recovers. How fucked am I?

Im 32 years old and sick of renting, so I decided just to dive in to owning real estate.

>>53886505
The socialists will take it away no point owning anything you can't put in a backpack right now

>>53894889
kek you won't be able to refinance for at least 6 years maybe never

>>53892414
Get a roommate or live at home you fucking retard
>muh throwing money away
Clearly you haven’t thought this one through big guy and don’t know what the words ‘opportunity cost’ mean and also don’t realize just how much of that mortgage is interest (hint: with today’s rates over the life of the loan you pay the equivalent of the sale price in interest)

>>53894889
>540k at 6.35%

JUST

>>53894889
Keeeeeek

>>53894889
Unfathomably retarded

>>53886458
I own my house in no small part because I took profits back in 2021. Now I have no mortgage.
Just today I was talking with one my co-workers and she's full-blown panicking because her landlord just raised her rent and she has three weeks to find a house mate or she will have to relocate somewhere shittier. The week before a different co-worker was in tears because she did the math and realized she's in the hole for an extra 800 per week on her mortgage now that the rates have gone up.
Feels good man.

>>53894889
In pure monetary terms? You probably fucked up.
In subjective unmeasurable terms like
>having a roof over your head that isn't rented
>no stress about renewing a lease
>having something you can work on and put equity in
>etc
Hard to say, depends on why you bought the house and is very subjective

>>53892052
I bet all these retarded roasties sold at the very bottom too lol

>>53895513
It's just one of those very jewish times where normal people get fucked. For first time home buyers that have steady employment and/or income, don't plan on selling or flipping, do plan on living there for at least 5 years, or are just tired of paying somebody else's mortgage, you may as well buy now. There's a lot of fudding regarding prices, a lot of that shit can knocked off with first time home buyer credits and other incentives

>>53894889
>he fell for the "buy now or be priced out forever" meme

>>53886458
Home 'owners' are fine, people whose bank owns their home that they pay back the loans on are the ones who are fucked.

>>53894490
Saving doesn't drive up inflation dumbfuck.... consooming does.

>>53886458
I’m At work right now in mortgage banking ama? Boomers are dumb asf

>>53894903
mega cope

>>53893363
>buy house
>exterminate jellyfish with a marine holocaust
>sell for 10x in a few years
>???

why dont they just kill the jellyfish

>>53886458
I literally just closed on a house 2 days ago...are you telling me this was a mistake?

Real estate only goes up

>>53886458
thats a stupid statistic as people who are paying off their mortgage earn well above median income nowadays

>>53894889
GG KID

>>53891180
managed to buy my first property last year with a 5 year fixed rate of 2.74%

>>53898589
>less money to bussinesses
>some need to shut down or scale down production
>less supply, drives up prices

seething rentoids. houses aren't valuable. LAND is valuable, and if you don't own land with a house on it, lol, lmao.

>>53891093
I agree with >>53891107. No need to change your situation up when you have a good rent deal. The market going down a little bit is just the teaser IMO

>>53887930
It's gonna go up until at least the year 2140 so i mean yeah.

>>53891257
I can't wait to do this during the 2025-2026 crash

My bro said that he has noticed a lot of local slumlords have been selling properties the last year or so. If they are selling you know its probably a top. Interest rates are only going up. Boomers buying with cash won't last forever.

>>53887953
its funny because that cringey "moms in crypto" music video from 2021 came out the same week of the exact BTC top

Boomer here who owns 7 properties in Phoenix. My zestimate actually rose from a month ago.

>>53886458

lol I own my home that I bought in 2021 peak covid for 2.75% interest rate 320k 4bed 2bath with 20% down so ~250k remaining it costs me 1300 a month... my salary is 175 and i take home 9k a month. 9% DTI ratio LOL you'd have to be retarded to have not bought a house in 2021 desu

>>53886689
Lololol. Enjoy your shitty home. Real estate in the UK is crap, France and Italy are miles better in comparison.

>>53892293
Buying a house is very similar to a speculative investment in a long position of an asset class at 5x leverage, friend.

> "It's fundamentally a broken market, if you can even call it a market. The government props it up with tax breaks (inheritance tax protection, no capital gains) and subsidies (help to buy, etc...). Frictional costs to transact are enormous, mainly due to stamp duty. Owners face no property taxes, an anomoly in most modern countries. Instead, a regressive council tax is applied only to tenants or owner occupiers. That means there is no cost to owners who sit on unused or derelict property.

All this is designed to protect landowners, many of whom are leveraged and never want to be forced to sell at anything other than the absolute highest possible price. They would rather sit on their land and do nothing when markets are tough. Everyone else, from tenants, to new buyers, to consumers, effectively pays this "tax" to landholders. But this is how it has always worked in a country that will not give up on the last remnants of feudalism.

So next time you buy a coffee, remember you are paying some landlord who provides no value at all. Probably the guy who owns the land inherited from someone who was gifted it by the king because he was on the right side of some war hundreds of year ago. They've never had to contribute a dime to state for this monopoly position. Yet the English populace, once they have their own tiny slice of land with substandard housing, are happy to buy into, sustain, and protect this system. It is sad."

>>53886458
>he doesn’t realize his own post makes him look retarded
You have to be 18+ to post here. Let me know what the median income in 1991 is.

I’ll give you a hint it’s nearly a third of what it is in present day

own two properties in aus (outright)

time to sell one?

>>53888715
Wait until total normie panic. When you start seeing CNN articles and retards at the NY Times posting about how housing has crashed and will never recover is when you buy. Buying foreclosures is risky though, better off to buy from somebody moving for a new job or some boomer who just died

>>53886458
It's because of WFH. New paradigm in how we live and work. Obviously some areas will crash due to other factors. But I don't think we'll see it bottom as low as it did 10 years ago.

>>53887910
You have to realize a lot of anons that start these threads are transient/non-committal types. He probably also thinks all women are whores and that kids are a waste of time. The thought of settling down and starting a family is an alien concept when such things would get in the way of their "free time" and "travel plans."

>>53886458
>>53886492
This is literally all you'll ever own until all boomers die in about 20 years.

>>53886563
Niggers not paying they house note.

>>53903327
It's hilarious watching these Zoomers cope because they missed out.

They're the ones fucked by the high interest rates.

>>53886458
Imagine being homeless rn lmfao

>>53894889
F

>>53903845
People who are moving for a new job aren't selling their homes. They're renting them out since they're sitting on a sub-3% mortgage rate.

>>53886458
Imagine not owning a home by now LMFAO. Poorfag mentality showing itself again. Only true poors seethe at the idea of home ownership because they're priced out. The truly wealthy own homes outright or are leveraged in such a way that there's barely any risk of defaulting.

>>53886458
My mom is selling her house and thinking of moving to Virginia. Is this a good time to sell or should I convince her to wait?

>>53905476
implying every piece of property can be rented out effectively
implying everyone wants to be a landlord rather than get a lump sum of cash from selling

>>53893011
You're bragging about dumping cash into real estate when rates were sub-3%?

>>53905489
>well, there's some properties that aren't suited for rentals

That's your strawman? LOL. No wonder you're homeless.

>>53905595
cool, one anecdote in one article
that doesn't make every property rentable

>>53891990
Yeah that’s where I’m at as well, I’m so fucking tired of renting and could actually afford these inflated prices but it just seems like such a terrible deal, don’t want to buy someone else’s obscenely overpriced bags just to avoid renting for another year or two

>>53886510
>but I won’t sell
>but I could sell
Kek this is so accurate

>>53903452
Imagine having the dimwit narrow minded /pol/ view that everyone in the uk lives in tower blocks or deano boxes.

>>53887953
Eve called.. She wants her apple back
It's literally the oldest trick in the book

>>53892003
it's 200 words, dumb ass

>>53886510
>Priced out forever

The funniest thing is all you bitter gorilla niggers ARE going to be priced out forever. "LOLOLOL rising rates mean property goes down" And it also means your already minuscule chance of qualifying for a mortgage with your paltry sums just disappeared like cheeto dust off your turtle beach headphones when you log into cuçk-simulator 2022. Nobody that bought recently is going to sell out of a once in a life time low rate mortgage just to try to qualify for a bigger payment for a shittier home. You dumb apes are going to watch as you go from *priced out* to *hyperbolic priced out*

I'll say it again-NOT AS MANY PEOPLE AS YOU DUMB BLACK GORILLA NIGGERS THINK ARE GOING TO BE SALIVATING AT SELLING THEIR NICER HOMES, FOR A LOSS, TO ONLY QUALIFY FOR A MORE EXPENSIVE LOAN FOR A SHITTIER PLACE. PROPERTY IS UNIRONICALLY THE NEXT BITCOIN YOU FUCKING APES

>>53905791
yeah ur right literally no one is going to sell their home ever again because a small subset of home buyers bought at a good interest rate. damn ur really smart bro

>>53905485
I doubt she'll be able to sell it right away anon since Real Estate tends to be illiquid. I dont know about your local housing market, but if she's really intent on moving away, I think it's a good idea to start putting it out on the market already

My mortgage + property taxes for my 9 room, 3,000 sq ft Victorian is $1,600 / month.

Average rent in my town is $2K for a one bedroom shithole in a section 8 neighborhood.