/biz/ - Business & Finance

>>55490718
KEEP GOING

>>55490718
BUT MY Z-ZESTIMATE S-SAYS....

>>55490718
Asset managers have unlimited cash to buy houses. Sorry chud, but you're priced out forever.

BLOOD
ON
THE
STREETS

>>55490718
>Canada
Wake me up when this happens in the US

>>55490718
People who can't afford houses will continue to not be able to afford houses and persist in whining about being rentoids for life.

>>55490718
It doesn't matter how many people can't get a mortgage when so many houses are sold to (((funds))). The future isn't a housing price crash, it's an ownership crash.

>>55490740
this

Me and the gf have about 50k saved together, I've held us out of a mortgage and we are renting telling her we will buy somewhere cash in a year or so. It's gonna happen I know it.

It's nice not to be a house owner right now
>t. zoomer coping

There isn't going to be a housing collapse STUPID!

Now I know you want to get rich quick dummie, but let me tell you something...YOU CAN'T GET RICH QUICK STUPID! You need to sell all of your bitcorn and move it into a mutual fund ASAP. Wait 40 years, and you'll be a millionaire.

When I get all these callers complaining to me about being broke in their 70's and losing their homes, IT'S YOUR FAULT! IT'S...YOUR....FAULT!!!!

>>55490750
>>55490772

Not an argument, they don't have unlimited cash and buying quickly deprecating asset that they may not see a return on in decades isn't realistic, this is only happening in cities and larger developments.

Even if they had "unlimited" funds, the logistics of buying, maintaining and renting such a huge number of properties over a vast geographic area isn't possible. Blackrock are not going to random towns throughout the UK and buying up single family homes.

>>55490775
Keep holding you're almost there

>>55490718
Keep waiting, even if youre paying rent, it will drop lower. Surely you'll be able to outbid all the corporations when the market bottoms out. In the meantime make sure your rent payments are on time

>>55490750
>uhm yeah bro just buy houses instead of literally getting free cash from the government

>>55490718
Does this mean I can move to the UK and buy a manor house with servants just like in anime?

>>55490718
>none of them are able to get a mortgage,
leddit spacing hands typed this, also what is 40 and 50 yr mortgage, and "minority" lending. Biden adding extra fees to people with credit score over 620 giving those fees to lower credit score people. Which only applies to fed loans which means no one with a good credit score will use fed backed loans. Anyone with a decent score will just get a non fed loan making all the fed loans less secure because its nothing but joggers with low credit scores.

>>55490775
>buy somewhere cash in a year or so.
real estate will not collapse like that, if it does it will be in areas you do not want to live anyways. When it collapsed in 08 several major cities didn't even notice. Real estate is entirely local, and trying to average out the costs between LA, Houston, New York, and Chicago you will get wildly different averages when you exclude or include certain cities. Houston didn't change in value at all, but again you have to break down that city. Some parts dropped a lot, some didn't move an inch. Places that dropped had gun violence, do you want to live in the hood? I've saved up 70k this year and on pace to do that again next. Current house I live in I could buy for 225k. If I have 225k laying around I'm not buying a house with it. I am putting as little down as possible while my money gets a return in the market. If I do put more money towards my house it will be to remodel it. This will increase the value of my home while keeping my mortgage the same. At the end of every year I can decide if I want to pay down my mortage with the profits I have made in market/savings. This pays down principal faster and completely negates my interest rate being high. Since I am paying it down faster, it lowers the rate effectively.

God it feels good to be a landlord. Rentlets will never be able to stop working hahahaha

>>55490758
Halifax is a UK building society, they don't mean Halifax NS

>>55491297
Canada is dropping

>>55493012
>Canada

feels good to be live with parent chad
landlords pleading
rentoids coping
mom bought pizza, saving 80% income

>>55490718
Let the bodies hit the floor etc.

>>55490718
Home prices are up like 2x since 2020. Of course they are going to come down. Even then they won't come down to a reasonable level. Everything was wildly overpriced in 2020. The housing market right now is on drugs.

>>55491297
The people who moved to Texas and Florida and the South are probably starting to realize that those places suck ass and want to get out.

>>55493707
rarted question, I can understand wanting prices to keep going up if you bought as an investment only or want to sell and go live in a retirement community. But if you're just a person who bought a house for 60k and it's not worth 150k you can't really sell and upgrade because everything is more expensive and you're just going to get another house of equal size and value and not profit. So why is everyone cooming over their zestimates?

>>55493825
>*and it's now worth

Literally buying a house as we speak. First time buyer. Feel like a real chump buying just as prices are about to fall through the floor but also think I got a really good deal.

>>55493725
They suck but theyre supposed to suck and be cheap.
Now that the prices are inflated, its the perfect time for them to cut their losses and get out, but that wont happen. Instead, they'll keep coming and make the local markets even worse.

>>55490718
Yea everything is in a dip atm, look to buy a cheap stack of 25k blackswan to use the bot for a lifetime.

>>55493825
Because you now own an asset worth more than you paid, making you richer. You are right in that you aren't actually better off, since everything else has inflated too, so your the same or possibly worse off. I paid £285k for my house 2 years ago, houses round the corner are going for £320k, if I sold up I wouldn't be able to buy the same house and keep the £35k difference

>>55494292
Yeah, asset you own went up in value, but also everything became more expensive. Yet people think thing they own being worth more makes them richer. However, if you actually cashed out you would have less buying power than before. That's the confusing part to me about people think they've become richer because prices go up.

>>55493825
Because they are retards. They think that their houses are special.

>>55494434

Well you can't wake up the sheeps. When they see value go up they think they are rich. lol lmfao.

>>55494461
>>55494475
>I have more money than before!
but your money is worth less.
>But I have more than before
Okay.
>they think they are rich
>Because they are retards
That's what is sounds like, yes.

>>55490758
It'll happen if we get a red president.
I hope we get a red one too. Then maybe conservicucks will learn that they don't actually conserve anything other than Israel.

>>55490718
>tfw bought a nice home across the street from my work (i teach) when rates were 2.7%
sorry rentoids, looks like youll never own a home

>>55494509
TRUMP DESANTIS 2024 MAGA

>>55494069

Blackswan is the real deal. With their AI-powered trading bot, you can get ahead of the market and make some serious gains. It's not just about the coin, it's about the technology behind it. And let me tell you, stage 4 release is gonna blow your mind. The GUI and telegram bot will make it so easy for anyone to get in on the action. Don't sleep on this one, it's undervalued right now, but not for long. The developer and marketing wallets having a good amount in them is a positive sign, it shows they're committed to the project's success. So, do yourself a favor and look into Blackswan before you miss out on some major profits. It's time to separate the roaches from the winners

>>55490750
unlike /biz/ posters, professional investment firms don't like to buy at the top

It'll drop about 12% then go back up in like.2 years

>>55490718
I need the earthquake (the big one) to happen so the west coast real estate prices go to zero.

>>55491297
RIP Rich

It'll drop 5% this year then go up 40% next 5 years

Always happens. House prices only go up. Increasing population and limited housing

Rentoids will cope forever

>>55490775
>He thinks he will get a house for 50k

You won't even get a house for 200k

Only dire shitholes that need 200k worth of work will be sold. Or that 800k sold for 780k because the idiot overstretched himself with a mortgage. That's if the buyers don't engage in a bidding war

Ah naive rentoids. Gotta love em

>>55491297
Midwest and Southeast (excluding Miami) didn't even go up in the 2000s bubble. Midwest is still affordable right now.

>>55493825
>. So why is everyone cooming over their zestimates?
Because they are thick

>>55494587
Bot doesn't work. Show me one trade this bot actually made that was positive.

>>55495036
>Dead cat bounces across the board

>>55490775
Your going to need more than 50k anon grind some more

>>55490718
Every Western country is based around elites parking wealth in real estate. Governments will rig the market - cap supply, boost immigration, borrow to finance handouts to landowners - before allowing any meaningful crash.

>>55490840
>they don't have unlimited cash
They dont need unlimited cash, just enough to keep buying and to be able to get loans from banks. Meaning they need to keep the wheel spinning, otherwise their assets devalue, meaning the banks have to re-evaluate the secured assets, which means they cannot afford to not do this and to keep buying assets.

>>55490718
My parents who panic sold their fully paid-off house in the 2008 bottom just bought a new house in May. That's how I knew that housing had topped.

>>55490718
It literally fell by 3% annually retard. After going up 12% in 2021.

>>55490775
Kek. You are the same kind of person who told me not to by in 2019 because the housing markets were going to crash in the next 2-3 years.

>>55497385
UK house prices are going to get interesting in the next 6 months.

The pain will come when the Mortgage deals start coming to an end. People finding their payments going have gone up £500 a month, landlords rushing to sell their houses on interest only deals, only to find that tenant-in-situ takes another third off the price.

>>55497349
Amazin', did they buy BTC at 69k and sold it at 15?

Housing inventory looks like a soviet supermarket presently. Nobody is rolling out of their 3% 30yr fixed, and nobody who doesn't have to is selling for a reduced price just because borrowers are having a bad time.

Housing isn't a shitcoin bag. People don't buy homes just so they can find a greater fool in 5 years. 100's of threads on this board a day, filled with fever dreams about "normies" deciding miraculously they "need" a token; meanwhile, the financial scientists of /biz/ fail to recognize wanted, needed, and desperately sought after by everyone to the point that borrowing costs have doubled but actual prices have barely moved outside of urban core hellscapes.

>>55490718
>Halifax

>>55494488
it's called the "wealth effect" in monetary policy

>>55497691
Two words: investment properties
some boomers here don't use tiktok and are thus unable to comprehend to what extent Xrs and millennials jumped into the airbnb / diversified passive wealth influencer meme
the zestimate meme is very real
I'm sorry for you lads who "own" a mortgaged house, chances are we'll see some shit when these young investors start panic-offloading
Those who can scoop at the bottom will profit like last time, wagies will hold on to their negative equity, speculators from the last two years will cry tears of blood
good luck

>>55490718
People don't care, they will ape into 8% mortgages because they've been told that houses automatically gain 10% value each year. The same thing is happening with cars, stocks, everything. It's the final stage of a speculative bubble that nearly everyone is taking part in

>>55490718
Overpriced unobtainable shitbox housing is a cornerstone of globohomo, it's here to stay. All a crash will mean is more properties being bought up by large institutions, converted to rentals and another billion Third Worlders imported and stuffed 20 to each rental unit.

>>55494434
The Jew is right about the goyim. Dumb fucking boomer retard thinks he's wealthy because his house went $20k->$600k ignoring that his income (denominated in houses or other real asset) crashed through the floor

>>55501164
It really shows how stupid people are.
I can almost side with ((them)), people are animal level stupid.

>>55490718
>It doesn't matter how many people WANT a house if none of them are able to get a mortgage, do you think most normies even have a positive bank account balance, let alone be able to afford 8%+ interest rates?

Yes, they'll just stretch out the term of the loan so niggers can afford it. Hint: banks only make money when they lend.

OK tell me why I’m wrong:

NoRm*ids have continued FOMOing into high rate mortgages because CNBC says we have achieved le soft landing. HOWEVER, CNBC et al. are fake and gay. A real recession (depression?) is coming as evidenced by all the job figures being quietly (((recalculated))) after their initial release. The FOMOs and the over-leveraged wannabes (see >>55499710) will be forced to sell once reality sets in after the 2024 election.

>house prices in bongland about to collapse because if interest hike
>I live in council house (£400 a month rent thanks to gibs) and am about to start job in banking and finance
thank you middle class cattle. its going to be white trash like me and pakis buying your discount bags. years of being laughed at buy richfags, and soon your all going to be sucking my cock in the passy' of my civic.

>>55490814
>When I get all these callers complaining to me about being broke in their 70's and losing their homes, IT'S YOUR FAULT! IT'S...YOUR....FAULT!!!!
This is true though

>>55502250
The only part I disagree with is that it may be way sooner than autumn 24.

>>55502337
sauce?

Well I've got $60k saved, would be nice to put something down on a cheap house.

>>55497398
To be fair they probably would have if not for the pandemic

>>55494434
My coworker keeps saying he's almost a millionaire because his house hit 600k. He still has close to 400k left on his mortgage and any comparable home in our area is 600k+ as well.

>>55502883
And in the meantime he pays higher property tax.
The masses really are stupid.
As if the establishment would just give regular people hundreds of thousands.
Would they send each person that amount in gold or oil? Would they fuck.

>>55493825
Value of the house adds to your networth, which shows up in things like credit reports

>>55493012
They should technically be returning to pre-2020 levels.

>>55502643
i summoned it via my imagination

>>55502477
Checked.

>>55490753
freak in the sheets

>>55497349
Kek my mom has been panicking to my brother about buying a house, saying that he needs to get in NOW before rates go even higher and prices go up even further because of the supply issues (Canada).

To me, that's a fucking top. I see this a lot with normies too and housing. Everyone telling everyone else to get into housing, so they can rent it out, and let it pay itself off, as being a good investment. Reminds me of when my normie friend was telling all of his other friends to get into BTC back when it was 60k-ish, saying that it's free money and it'll hit 100k. That's when I knew it was time to get the fuck out.

>>55490814
>
When I get all these callers complaining to me about being broke in their 70's and losing their homes, IT'S YOUR FAULT! IT'S...YOUR....FAULT!!!!

I came Bobros, I came hard

>>55490750
it's given to them by the banks and that money comes from your taxes chud.
Every penny you pay in taxes goes straight to the bank and barely pays off the debt.

Over leveraging even more will increase inflation if they're printing new money and not using money they already have by flipping assets

>>55503331
They have, it’s called inflation anon

there isn't going to be a crash just a correction that will end up with prices still higher than 2019

>>55503072
Property tax in USA is fucking stupid. Here in AUS I pay a few g AUD a year. So don't assume we're all getting shafted.

>>55497398
>by

>>55502869
It's almost as if the system is looking for any excuse to further inflate the money supply...

>>55490775
My now wife and i saved from 2010 to 2012 and bought what now is known as the bottom in 2012, you can do it too. Keep it up, keep your goals as one, make a family.

>>55503368
It's unreal just how consensus-driven normies are. I told my ex-gf that right now might not be the best time to buy a property to rent out, to which she replied 'everyone else is doing it' as a counter-argument- well, yes, exactly.

>>55490775
Dangerously good bait

>>55490718
two more weeks until le collapse!

>>55504386
the FOMO.

>>55499710
I actually hope you're right.

Yuppy human paper weights from Waltham own the entirety of Cape Cod, and are presently trying to rent out every cape, cottage, and ranch 5 miles from the beach for $1000/ night.

Those homes should be filled with working families year round.

The best thing about those investment mortgage products is the bank can essentially instantly seize the asset immediately in the case of default and liquidate them before junkies cut the copper out of the walls. With owner occupied homes, the bank has to sit on the vacant property for 2 years due to the "right of redemption" clause.

>>55490718
Ok retard here. Me and the wife make ok money, have enough for 20% deposit on something basic, all we need really to have a little land for gardens and make a home.
Say the average opinion is right and house prices go down gradually over a year or two then stagnate a bit while interest rates stay high because of the much-publicised [to quote earlier hypothesised “transient”] now high persistent inflation (worded now as good way to scare people for whatever reason)… are interest rates if 15-20% likely, like in the 70s-90s that boomers talk about? Or just remain at 7-10% for a while?

Either case, what’s the smartest play for a mortgage, fixed or variable? Bearing in mind I’m not in the US so a good deal fixed mortgage was never an option - here “fixed” is only fixed for 5 years. At what point would you say variable becomes more attractive (as in, what is the likely peak of interest at rates). Or is fixed likely better, to then refinance in 5 years if or when rates have possibly been going down.

>>55504633
>here “fixed” is only fixed for 5 years.
I will never understand this. I feel so bad for you guys.

housing wont crash
the fed will try to make it trade sideways for 2+ years
nobody wins, nobody loses

>>55503365
freak in the balance sheets

>>55503368
Never met a Canadian who had clue about how prices are set.
Incredible ignorance here.
Interestingly that is why prices will take longer to fall here. Canadians can't compute that higher rates means lower prices, so the mkt will have to crash as they're smoked out, one by one.

>>55504633
When you see people on this board discussing small price declines they are mostly talking about the USA market, where everyone is on a 30 year fixed.
In Canada everyone is on 5 year or variable, so many recent buyers are already paying the higher rates, and will lose their homes soon. Faster play out unless bastards Trudeau saves their stupid asses. Unlikely as CAD can't take that shit.

>>55505300
I think most canadian banks did that thing where they extended the mortgage's time length so the monthly payments would stay the same?

So most of these people with mortgages would only be paying off their interests and nothing on their principles for many years (and I guess they'll hope interest rates go down in the future to properly pay it off?).

>>55493012
Canada doesn’t have fixed interest rates like we do in the US. If the BoC is forced to keep hiking rates to match the pace of the US, they could be in a genuinely dangerous situation. The fixed interest rate homeowners in the US just need to accept they can’t move and have to hope they keep their jobs in a recession

>>55505357
That only works up to a point, you just going to sit there on your 100 year mortgage, effectively renting?
Actually Canadians might.
In general there's more forces acting more quickly on the Canadian mkt. That's why we've already seen declines.

>>55505367
Totally on the same page.
Canadians don't understand any of this. They think if prices do fall the BoC will pivot.
They don't realize the BoC is a receptionist for the Fed.

>>55503368
Same, I know several people apeing into properties right now because they think they have to. They're in denial about the weight of a 7% mortgage because everyone else is in denial too

>>55504766
fed only goal is to get inflation under control no matter what it costs, if that means crashing the stock or housing market then so be it

>>55505367
>>55505417
If the Canadians / any other western central bank starts cutting rates to save their housing markets while the fed continues hiking / holds, it's going to just their currencies so fucking hard, making their inflation even worse. I could see banks trying to standardize mortgage options in the future to avoid this idiosyncracy.

>>55505470
Exactly, that's why the BoC don't set their own rates.
Inflation would hit the boomers and nothing must upset them, ever.

>>55494521
>bragging about being a teacher

lol, enjoy your permanent middle class lifestyle babysitting immigrant and single mother offspring

>>55490775
>and the gf
who’s gonna tell him

>>55490758
People buying right now are like the retards going in during 2004-2007. The writing is on the wall and but they are just FOMOing in at historical highs in the cycle.

Smart money is loading up on companies with high returns on capital, oil, banks, and holding short term treasuries while the markets implode. Their purchasing power in a crisis will be the highest and they will be able to capitalize on all the opportunities available.