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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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56313750 No.56313750 [Reply] [Original]

house prices basically have to go up. house builders are seeing net profit margins as low as a 6 month CD. new housing starts are approaching early pandemic lows. Nobody can afford anything, except the people who already have a fixed mortgage with a low rate. they won't sell at these prices either. case shiller index is already making new ATH so investors obviously bought the dip
the people who must live in single family homes, the sex havers, will either stretch their qualification to the limit or become house rentoids.
I have already housemaxxed and managed to get myself 4 houses this year. I'll have to live in one, and airbnb another one, but the last 2 will have some qualified rentoids paying the mortgage forever.

>> No.56313787

>>56313750
There are always cheap areas

>> No.56313811

>>56313750
>has four mortgages
>think he's not trouble

I got news for you, bud: the banks are itching for you to foreclose. They know no one can afford these prices and rates so they sit and wait for the inevitability of life to happen so they can get the asset back just to sell it again. Your short term rental is part of the problem by sucking up available supply that would've otherwise been occupied long term. And just lmfao at thinking buying that property for the express reason to airbnb it was a good idea at this point in time. No one's vacationing because they're all broke and I'm glad you're getting shat on rate wise.

>> No.56313863
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56313863

>>56313750
why would you airbnb 1 of them and then rent out the other 2? airbnb fuckin blows anon.

>> No.56313937
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56313937

>>56313863
I can only legitimately rent out 2 of them. something about fannie mae rules otherwise I'd have to put and extra 60k down according to the loan wagie
>>56313811
picrel

>> No.56313945

>>56313787
In fact there are not. The cheap areas have all way upped building requirements because it's all they can do to keep Mexicans out and the builders there are still building half a million dollar homes because housing always goes up.

>> No.56313958

>>56313750
>house prices basically have to go up
airbnbs will be banned in all major cities to "help" with rent control. rates will get into the double digits causing trigger rates/defaults= forced selling. inherited houses from boomers will be sold off immediately by millenials/gen x in the coming years.

>> No.56314007

>>56313958
>airbnbs will be banned in all major cities to "help" with rent control.
you know there are cities adjacent that were more profitable to begin with right
"major cities" are just the crackhead containment zones in any given metro area.
> rates will get into the double digits causing trigger rates/defaults= forced selling
the vast majority of mortgages are fixed rate.
> inherited houses from boomers will be sold off immediately by millenials/gen x in the coming years.
yeah guess what they do after selling their parents house? they go buy another.

>> No.56314014
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56314014

>>56313811
>no one can afford these prices and rates

Losers think that everyone is doing as poorly as they are.

Median income of home buyers is 102k.

>> No.56314017

>>56313787
Nope. The internet plus bussing immigrants all over the country for decades put an end to that. The only cheap areas now are absolutely hostile shitholes with 6+ months of winter or scorching summer and no jobs or nog no-go zones.

>> No.56314031

>>56314007
i can smell the cope, hfsp

>> No.56314061

>>56314031
says the poorest person in the thread

>> No.56314184
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56314184

>>56313787
People who say otherwise live in the purple areas, and refuse to believe it's possible to live/work outside of the purple areas on this map.

>> No.56314768

>>56314014
In many parts of the country, two people making minimum wage +overtime can make nearly $100k combined