/biz/ - Business & Finance

>>55454607
How much are you spending on rent? Cant you wait 2 years?

>>55454607
>Every property I'm interested in either goes pending or there's a dozen people at the open house
sounds like you're in a hot area, Florida or Texas perchance?

and yes housing prices are probably never going to crash, especially not in fast-growing areas like Florida or Texas. As the old adage goes: "buy land, because they ain't making any more of it."

>>55454622
I'm looking outside of Myrtle Beach

>>55454607
Rent costs me $7200 a year. You will lose more than 5x your yearly rent payment if you buy an overpriced shanty at 8% interest. Just wait 5 years instead and be better off. Maybe you'll have the cash to buy a house without credit. Assuming you are a perma-bachelor like myself.

>>55454622
prices will probably crab while stocks and paychecks go up for 3 years

>>55454607
Research REIT's. You could in theory keep renting, put your money in some REITs collecting dividends from rent and compounding it. Mortgage holders get raped by amortization and have less freedom to move than renters.

>>55455061
Where the fuck do you live and what kind of shack do you live in if rent is $600/mo?

>>55455625
I want a house but I'm getting ready to dump my cash into a condo at this point.

>>55455061
>Assuming you are a perma-bachelor like myself.
Then why do you need a house?

>>55455842
Why would you want to share walls and ceilings/floors with people if you have a choice not to?

>>55455852
Because I can always leave and go somewhere else.

>>55454610
Yes. Look at the stats dumbfuck. Rent is currently cheaper than mortgage. Market is upside down. I can wait 5 years. I can wait 10 years. Honestly I don't give a fuck.

>>55455861
And you can only do that in properties where you are sharing walls/ceilings with others?

>>55455731
Well if you really want a house getting a condo first will at least get you into appreciating property, will it appreciate enough to offset the money lost to the amortization schedule though? Highly unlikely. If you take a mortgage you aren't the one doing the compounding, the bank is. When it comes time to sell the condo it's possible you will wind up losing money once you factor in what was paid in interest and what the realtors take in commission.

>>55454607
I just buyed. I am priced in forever.

>>55455895
Any place I'm renting, yes. Also it's cheaper.

I got in an at the perfect time when interest rates were rock bottom. No, prices won't crash. Yes, I will rent you or some other rentcuck the American dream one day when I get bored with this house.

>>55455899
Either I can rent the condo for $1100/mo, or I buy it in cash for 115k and just pay the HOA fees ($154/mo) and prop tax ($29/mo).

If I rent it, I could put the 115k into a high interest account and make $500/mo, taking care of half the rent. Net rent $600/mo.

If I put 20% down, my mortgage + HOA + prop tax would be $765/mo. I could dump the remaining 80% into a 5% interest account, and that would earn $400/mo. Net rent $363/mo.

If I paid in cash, I would only have to pay $183/mo in HOA + prop tax.

>>55456045
Cash is always the way to go. Don't forget insurance in your calculations.

>>55456065
It says that

>HOA covers all exterior maintenance and insurance on structure

What would I be insuring on top of this?

Boomers are gonna pull the rug on Gen x. Housing will -87% when the recession kicks in

>>55456271
god i fucking hope so.

>>55454607
If you don't buy now enjoy spending an extra 50k to buy the same shit 2 years from now

>>55454610
Two more years.

>>55455938
>Prices won't ever crash
>Everyone is priced out forever
>When I'm bored of this house I'll rent it
And where will you live? In a house that you'll buy? A house who's price never crashes and everyone is eternally priced out of?

>>55458064
YES

This could be a bull trap. Landlords and Airbnbers are feeling a serious squeeze right now. Commercial is getting fucked thanks to wfh, it's basically just sfh that's chugging along and even then it's lower demand, but inventory hasn't caught up to cause any kind of price dump.

There is still a lot of money left over from the past 2-3 years and a lot of optimism in RE and in my mind that is keeping it afloat, people think they are "buying the dip" right now aggressively when in truth they might be catching a really big knife.

>>55455866
Yes, keep waiting. Keep paying that rent because a market crash coming real soon. You're very smart to be renting instead of buying a house. Paying rent is the best choice.

>>55455913
MR. GURPREEEET. DO NOT REDEEEEEEM

Houses aren't going up, USD shitcoin is going to down.

-M2-
1980: $1.5T
2000: $4.5T
2020: $15T
2023 $20.5T

>>55456145
The interior

>>55454607
yes prices will go up perpetually, even with interest rates rising and nobody being able to afford a home, the prices will just keep going up in eternity, prices just doubled in a couple years and they will keep doubling every 2 years from now, so better buy fast economic genius, turn on CNBC and hear your suspicions being confirmed that the housing market is indeed booming and you must buy right now anon ! go ahead

>>55454607
Look at the housing starts chart on that site. Set it to max. Look at pending home sales yoy. Good luck.

>>55454661
hoo boy looks like things are really heating up in fucking Branson Missouri

yuck

To all of you faggots concerned about being priced out: why don't you use your hands to build a nice home for 20-40k dollarinoes, instead of using them to masturbate all day and shitpost? Are you all fucking retarded? Or just like to whine like little girls? Time to become a man, and learn how to build. You do have a high school education, right?