/biz/ - Business & Finance

>>55342940
Is price going down yet?

>>55342952
OP probably received a two weeks notice for rent increase.

>>55342940
Literally the average south Florida reall estate investor right now .

All the houses I track on Zillow were. Bought in 2021 and now there is a mad scramble to sell them and they are just sitting on the market with no movement.

Love to see it.

>>55343845
Rents are down

>>55342940
My house consistently goes up.

>>55343845
I actually didn't get one this year, which was nice, but concerning.

>>55343845
i negotiated a $300/month decrease in rent. cope harder.

My house would need to lose half it's value to be at the price I bought it at.

>>55343999
you forgot to account for inflation.

>>55343919
Not my experience, every house that has been put up since 2021 has finished and been sold and all that's left are empty lots that don't even have foundation poured. maybe one house for sale out of 1,000

>>55344017
You forgot to account for your retardation.

Hmmm mines up almost 30k from last month.

>houses go up 200% in 3 years
>Dip 3%
It's le over housebros.... you'll find me in the park, my new home

>>55343919
Seems to be very local market specific.
I am in the Boston area and prices haven't budged here if anything they are continuing to go up.

>>55343984
You seems like the mad one here lad.

>>55343845
I pay 800 CAD for an apartment to myself.

>>55345960
$680 for a room in a 5 bdrm house, master race reporting. Basically living rent free in my house and in Landies heads

>>55344257
>house prices will increase 200% every 3 years

>300, 000: 2023

>900, 000: 2026

>2, 700, 000: 2029

>8, 100, 000: 2032

>24, 300 000: 2035

>>55342940
>estimate up $103,000 USD since last check

How many people here are actually trying to sell now instead of baghold all the way down for 30yrs?

>>55346014
>Your assets that have consistently gone up for 90 years will crash any day now

>>55346014
Only the ones that are owned in full
Nobody wants to pay that much interest. They will sell, it's just a question of when.

>>55342940
>tfw parenrs rent went from 9k to 11k
>have to pay because their mcmansion construction got delayed... AGAIN
I fucking hate every single one of these slimy motherfuckers in this real-estate business. Fuck the slimey ass landlord for jacking up the price because she knows we don't have a choice and fuck the sleaze ball builders. So many god damn rebates incentivizing builders to push shit products and no show lazy pos workers.
Holy fuck I hate America so much. I don't want to see anymore illegal spics throwing half smoked cigarette butts and plastic waterbottles EVERYWHERE in the construction site only to bury it under the property. Real estate is such a God forsaken industry. Literally mcmasions with weatherproof particleboard construction with tacked on stone facade selling for millions. God damn why can't it be like Europe with brick construction or Japan with clean as fuck work ethics. Holy fuck Christcucks for voting dem ruining their own God damn country. I want every one of these motherfuckers burning in hell

>>55346014
I sold the house I bought in 2013 earlier this year no regerts

>>55346135
> post about general housing market
>> hey this is about me let me tell you my situation
jump off a bridge you self-obsessed piece of shit

>>55346065
>t. July 1929 stock owner

>>55346153
>question asked
>give answer
>I am piece of shit
no u

>>55346135
You renting now and rebuying later?

>>55346157
>failed math

>>55346127
>Holy fuck Christcucks for voting dem ruining their own God damn country.

Conservatives seethe while /their guys/ continue to keep borders wide open so they can hire illegals, cut corners, and flip speculated real estate, all to grow the shitty suburbs of southern/flyover states that are going to burn down or blow away every year lol

>>55346014
Most people got rates of 3% and even lower a few years ago. That's what started all of this. I imagine most people won't sell because they won't see those rates again for a long time. Golden handcuffs.

>>55346243
in the UK and Canada "fixed" rates are 5 years tops.
this is like a golden ball vice for them, it keeps getting tighter.

>>55346071

>>55345980
Canada is proof of this
But I'm not moving anyways so it's all moot except for getting a HELOC later at low rates

>>55346239
It's good for the GDP if your 500k cardboard home in Texas gets washed out every two years when Houston floods silly. More jobs, more building, more middlemen.

>>55345980
>BTC 1,000,000 by 2024

Real estate is fun :). I'm remodelling my bathroom

>>55345960
>>55345975
>goyims fighting over who's paying less to their landlord.

>>55346841
KEK

>>55342940
NOOOOO I’m only up 2% over my ATH. My money is stagnant!! I should have put it all in cryp-

Unrealized profit = 0 profit mortgagecucks. Sell it or be happy with paying double what you paid over 30yrs.

>>55346883
You forgot to account for inflation

Total interest on my loan is 20% of the principal…before inflation

it's up again
just like your rent

>>55346883
ah yeah I'll be really happy paying 3% when a savings account is 4% I appear to be getting paid to have a roof over my head smart guy

Housing and rent prices made a new ATH this month

>>55343845
Rentoids forever priced out

>>55343930
They are actually up. Rent never drops. It stays the same or increases. Right now the top 10 most populous areas in the US have rent on the way up right now, it's crazy.

>>55345138
>>55343919
They're starting to tighten lending. We're paused by interest rates are still less than 100 basis points off their high, in some cases less than 50.

>>55344257
Imagine being happy to pay more taxes to pedophiles. My wife will never rent, which is the only way to collect gains. Also if housing goes down upgrading is cheaper. The only upside is keeping joggers out but they just get free houses in nice neighborhoods now so you don't even get that. What's good about something you use becoming more expensive?

>>55342940
>Up 5% in the last 3 months.
>Up 33% in last 3 years.
Not bad. I don't plan to sell, my 3% mortage rate makes this place so cheep I'll probably get a new house in ~5 years and rent this one to a rentoid, but it's fun to see my net worth up $100,000 in 3 years while paying less than my rent was before.

>>55343999
not really, if you have a mortgage it has to double in price for you to break even on the interest.

>>55347235
you have a mortgage which means you are literally enslaved by jewish bankers to pay at least double the original value of the house over 30 years. how brainwashed do you have to be to brag about this?

>>55346127
>Why
Y'all made the initial paradigm "it's free labor", and then fought tooth and nail not to shift building towards being a profession like it is in other countries. You don't have to make every guy who lays sheetrock a millionaire, but if you incentivize professionalism you'll get professional workers. Likewise, you need to force the boomer project managers/business owners to actually teach their skills to the people they're employing, not just rely on half-baked community college certs while they groom their kid to be a shitty replacement. I can't tell how much is nepotism and how much is them terrified that if they pass on too much knowledge they'll be out-competed by some upstart. Boomers are stupid paranoid and I'm tired of us letting them tear down our society because they can't process anxiety.

>>55347235
How much would your down payment be worth if you did literally anything else with it in 2020?

>>55346978
So you put up 1x the house present value into bonds and then paid the deposit and then will pay the mortgage, all to make 1% over costs. wow what a financial genius, whats your podcast called?

>>55347078
I could get a house a year ago. Now I can get a house for cheaper and my stocks went way up. Your home value dropped

>>55347367

Housing market will never crash anon. One post bot.

>>55342940
>every single house in my area has been on the market for weeks and has had multiple price reductions
fuck flippers and fuck boomers for trying to offload their bags at a premium. I hate them all and I hope they end up divorcing their spouse because of money problems.

>>55347413
they will. They're gonna die from the stress.

>>55347261
>Rent to an idiot
>They pay the entire price the house, including taxes/interest/repairs
>Sell after paying it off to make $300k+ in inflation adjusted dollars in 2050, or continue to collect rent and start to profit $10k+/yr while still increasing house value
You are retarded.
>>55347286
My $25k down wouldn't have increased 4x in anything reasonable that also provided me shelter and privacy, or anything else reasonable
And again, I'm paying less now than I did in rent lol.

>>55347292
nah you do a 1% premium just with a savings account, just by collecting money and doing nothing with it
1 year t bill rates are at 5 and a quarter, or 2.25% premium for minimal risk


you can play dumb and act like all of us that got money for cheap are somehow not all better off than all the people that didn't but we both know it's the cope on a generational scale

>>55342940
supply is at an all time low
compare with 2008 where supply was at an all time high
this isn't 2008. it's not even 2006
this is different. prices will drop slowly as interest rates rise, but not collapse

>>55343935
so does every investment until people start trying to sell

This is strongly market dependent, recently bought a home 4 months ago and despite interest rates continuing to go up my values are increasing. This is insane to me given how expensive thing already are. I'm in the Vegas market for context.

>>55348732
People are selling constantly
There's this whole entire market going on that you guys can't afford to get in on

Forever priced out OP.

>>55348730
You're saying probably bagholders will slowly bleed ? Seems like a logical scenario

>>55343935
Oh right, haven’t checked in a while.
WTF, never seen them this high.
Last 30 days, +9.1% and +15.4%.

A house is worth a house

If my house goes down 100k, that 5 bedroom detached I'm going to upgrade to is also going down 100k

Housing ALWAYS goes back up

The only losing move is being a rentoid

>>55347261
Stop trying to red pill idiots

>>55347389
it will just stagnate for 10 yrs while stocks double again lol
>nooo my asset class deserves to be priced at 1000000x YROI
delusional lmao

>>55348730
The housing supply was up because everyone was listing their homes for sale. The cause of a crash is when supply drastically outpaces demand. What would cause a crash today is people losing their jobs because that would increase pressure on home owners, especially those who scraped together everything they could to get something, forcing many to sell as well as removing liquidity from the market because those job cuts would logically be affecting buyers too.
A recession and the severity of that recession really dictates everything.

Prices were flat for a little bit in my market but starting to rise again. Surprised there wasn't a massive drop in 2020.

All news indicates people are leaving. Is inventory to blame? Am I looking in the wrong neighborhood? this is for the city of chicago (not including suburbs), so I was expecting a pretty significant drop

>>55346438
>Canada is proof of this
Because Trudeau is a dumb fuck

Get a load of all these hoomers who don't understand that paying rent is an asset

>>55350730
>you can walk out next month
Yeah after paying 6 months of rent to break the lease
or
>ruining your credit forever

>>55346316
Not true. I'm a britfag and I'm on a 10 year fix since 2019. They may not offer them now because nobody wants to fix 6% for that long unless they're super confident we're going back to the 1980's interest rate wise.

>>55350796
>ruining your credit forever
Do poorfags actually

>>55350990
I own a home. Just making the point that "leaving at any time" isn't as true as it's made out in that post

>>55343930
>>55347186

>>55343935
Almost back to Q1 2022 peak.

>>55348730
>inventory at record low
>price will drop

Not how that works.

>>55350678
Midwest didn't have the boom/bust that the West Coast did.

>>55342940
I'm actually pretty pissed at this, I don't plan on selling so the only thing that my house value doubling did for me is increase my taxes and insurance cost.

>>55347252
You stupid fuck. Renters pay 100% interest.

>>55351669
They also put 0% down as opposed to $100k+

>>55342940
AAAAAAAAAAAAAAAAAA

>>55351763
0% down homeowner here

>>55351568
That’s where I live. It’s been pretty steady growth, 5-10% a year for the last 3 or 4.

>>55351950
It’s still baked into the mortgage and adds PMI so you’re increasing your monthly payment.
Renting is fine if you have something else to do with the money left over. For NPCs it’s generally better to own because any money they have left over will go into retarded consumerism

>>55351950
https://www.rd.usda.gov/sites/default/files/RD-DirectLimitMap.pdf
>being poor enough to qualify for this

>renting a 3 bed 3 bath nicely built 8 year old townhome from old boomer white couple: $2050/month
>mortgage on a 70 year old shitbox in a bad part of town OR paper-thin quickly built 3 bed 2 bath townhome plus $200 monthly HOA fees: $2600/month
Anyone else experiencing this feel? I'm not building any equity, I realize that, but fuck I'm in a much better living situation just renting this nice townhome vs buying something. Do I just keep doing this until I move to a major city in another state where COL is cheaper?

>>55351395
it kind of is unless you put your signature on something you shouldn't have

>>55352223
You’re getting scammed by the boomers. Just find a place with no HOA and build equity.

What is so hard to understand? Why complain about an HOA fee of $200 when you are pissing away 2k a month making boomers richer?

>>55352223
The biggest thing that keeps me renting is the opportunity cost of a 6 figure down payment.
Throwing out $100k just to pay even more than what I’m paying now + having the obligation to pay that back which means my employers have me by the balls is just really unappealing.
“Owning” a home is really the ultimate NPC test. It doesn’t matter and it can potentially offer a lot of drawbacks but NPCs can’t think of anything else.

>>55352135
You refinance to a conventional to remove that once you have 20% equity.

>The annual fee is equal to 0.35% of your loan balance.

>>55352172
89k in Ohio

>>55352388
At what point in your repayment schedule are you hitting 20% equity and how much have you paid into PMI and interest by then?

>>55343845
Two months ago my landlord said the price was going up $200 so I declined to renew the lease. Moved to a place for the same price, but it's a dramatically nicer house. Has a pool, more land and privacy, in a better neighborhood.
Dumb bitch listed it for $2,600 after I left, has since dropped it to $2,200 and it's still unoccupied lmao. It was just a hold and flip property but the estimate is 5% under what she bought it for last year so she's stuck bagholding a depreciating and continuously taxed asset.

>>55343845
rents are stagnant / going down all over
real estate is finished
just takes longer than most zoom zooms can handle

>>55352441
>repayment schedule

LMAO, I bought in 2020, refinanced in 2022

>>55347546
highly doubt you can rent to someone and get them to cover the entire cost of the house, sweetie
most people dont even rent houses, they rent apartments. getting a whole house rented is actually quite difficult

>>55352470
retard your contract, retard. generally PMI is based on the purchase price and is not influenced by appraisals or comps.

>>55342940
Zestimate up 4% in the 1.5 years since I bought it to live in, and the purchase was the only way I could justify living alone vs paying retarded rent myself without roommates. also, going by what I've actually spent on a downpayment, closing costs, and mortgage payments/taxes/related expenses, its actually a 13% return so far. gotta love cheap leverage

>>55352470
>>55352503
and if they do allow for appraisal it's generally THEIR appraisal because removing PMI means losing money.

>>55352525
sounding like u bought the top but i hope things work out for u mate

>>55352503
>refinance to a conventional

My favorite thing about renters is how stubbornly incorrect they are.

>>55352542
He's got a nice 2.66% mortgage and not giving it up anytime soon.

>>55352542
possibly, I'm alright with that. its a cheap starter home, right next to work, and like I said I can justify living alone. significantly cheaper mortgage payments than rent that will allow me to save up a new downpayment

>>55352553
it's like i'm talking to an idiot nigger baby with a double digit IQ. you don't refinance to drop PMI -- it drops off the loan when you hit the 80% LTV requirement. unless, of course, you're a poorfag who bought with <10% down on a FHA loan, in which case it stays on for the lifetime of the loan, thereby forcing you to refinance.

>>55352616
>USDA loan
>refinance to a conventional

Stubbornly incorrect.

>>55352592
a low interest rate is one way to cope with being under water i guess

>>55352628
try speaking in complete sentences, retard. USDA loans have a 0.35% annual fee which drops off at 80% LTV.

>>55352673
he's clearly a troll who never bought property before
he doesn't understand your point about PMI at all lol

>>55352673
>which drops off at 80% LTV.

Wrong.

Maybe you wouldn't be homeless if you took the time to understood mortgages.

>>55352223
>>55352276
people have never actually sat down to do the math. owning a home is a lifestyle choice (a good one) that allows you to build equity and generational wealth. However, renting and investing in the S&P will generate greater returns in most circumstances.

i love hearing these buyers talking about low interest rates when they bought the absolute tippy top

delicious

>>55352878
Banks won't give you 30-year loans for hundreds of thousands to buy stocks.

>>55352972
>Banks won't give you 30-year loans for hundreds of thousands to buy stocks.
as if that's factored into the equation. there's no reason for you to cope with your purchase. owning a home is a good financial decision, but it's not the best if only finance is taken into account.

>>55353033
Never said that it's the best, I certainly don't dump my money into my mortgage that's below 3%.

Buying a home and investing in Crypto/Stocks are not mutually exclusive. You can buy with 0% down (USDA).

>>55352972
True but that doesn’t automatically mean you should do it. You’re the one paying off the loan for hundreds of thousands of dollars so hopefully you’ve put a bit more thought into it than
>renting is just throwing money away

>>55353142
They’re not mutually exclusively but generally speaking most people have a pretty limited amount of funds to spend on either.

>>55353153
You shouldn't be buying in California, but if you're in a part of the country where projected net rental income is greater than PITI + maintenance, there's almost no risk in buying with a USDA loan. At any point you can walk away and have someone else pay your mortgage off for you.

>>55353142
Buying a home + investing in the S&P are taken into account. The pure S&P investor will still have the greatest returns since it's a better financial investment based on historical returns. Real estate investing might be a different story, because RE investing and home-buying aren't the same thing.

>>55353247

>the most severely leftist parts of any given state, even in TEXAS, happen to be the most grossly overpriced and dystopian

It's pottery. A party for the people!

>>55353247
Can't use usda loan for investment property. Can't own any other real estate with usda loan. Income limits and eligibility areas. Community property states. The list goes on.
t. former loan officer

>>55353247
Except USDA loans are very exclusive so let’s just stick to conventional to make it the most fair comparison.
A 20% down conventional loan leaves me still coming up with $800-1,000/month out of pocket to service the loan.
I’m also out $100k and I’m also now a landlord which comes with a bunch of other risks like not getting paid.
I’m not against owning a home I just think people do it blindly. It’s not right for me and my situation so I’m not doing it.

>>55352308
>It doesn’t matter and it can potentially offer a lot of drawbacks but NPCs can’t think of anything else.
For me home ownership is (will be) about freedom to alter the home and not being at the mercy of a landlord to place enough plug sockets, buy decent white goods, maintain the fittings, etc. But I'm not willing to pay 2x my rent for that. I will rent until my investments allow me to buy outright.

>>55342940
all of 2022's (minor) price losses have already been regained despite high interest rates.
imagine what would happen if interest rates went back down

>>55349818
>bagholders
>housing
starting your financial journey with crypto has made you retarded

>>55353345
>I’m also now a landlord
I used to think I wanted to be a landlord, but I think dividends are a better investment. buying a home to live in is a better investment than rent, though. its a high up-front cost, but monthly payments are usually the same or less than rent, and about half goes to equity

>>55351395
it totally is. I broke a 5 year commercial lease after 1 year that had a 12 month breakaway clause after negotiating it down from $36,000 to only $5,000. I didn't even give him 30 days notice.

>>55353262
do you factor in the cost of rent, the amount of the mortgage payments going to equity, and the leveraged appreciation of the property?

>>55353653
They never do

I can't wait for the economy to collapse so I can flee the country while all the baggies who bought the top of the housing bubble are trapped in their mortgages for 30 years slaving for Shlomo Goldstein

>>55343930
I bought my townhome in 2018 and back then my mortgage was roughly equal to rents in the area ~1500. Now and equivalent rent for my home is $2400+. imagine being a rentoor in this economy.

>>55353653
>>55354043
>do you factor in the cost of rent, the amount of the mortgage payments going to equity, and the leveraged appreciation of the property?
if someone is serious, they would account for everything, including tax and interest write offs. I accounted for a refinance to a better rate, no HOA, and far less than recommended maintenance costs. Historical appreciation rate was accounted for, as well as salary increases matching historical inflation rates. excess income went to S&P investment after housing and cost of living. Nonetheless, the pure S&P investor came out far wealthier (over 40% welathier). The mortgage interest rate in the calculation was about 7% (less than the 30year historical average) and later refinanced to 4.5%. I would have to check to see what the difference would be for those with even cheaper rates, such as 2-3%, since a lot of people locked in these amazing rates (good job). It would take a lot for the S&P investor to come out below the home buyer+S&P investor. So, in most circumstances, the pure S&P investor is wealthier.

>>55342940
first the commercial real estate. then comes the zillow estimates