/biz/ - Business & Finance

Take the hovelpill

>> 56397530
We are comfier than ever, rentoid.

if you own a house already it's great... for everyone else it's pure misery

>>56397588
by baggies I'm referring to real estate """""investors""""" not people who actually live in their homes
Good luck selling your shitbox for insane valuations

>>56397530
>the 30-year fixed slavery to local steinsky
Yeah never buying your worthless land or house.

>>56397530
>Locked in at 4.15%
Sorry rentoids.

>>56397610
Even real estate investors should be fine assuming they arent married to the idea of flipping properties nonstop.... I don't think too many people out there actually flip homes like shitcoins outside of a small HGTV crowd. More people with multiple properties are likely landlording, AirBnBing, or sitting on vacation homes.

>>56397530
my first mortgage was 8.75% in 2002

of course that was on all of $100k, but it was fine.

what this actually does is keeps boomers from cashing out equity and spending it in restaurants, resorts, local businesses, etc.
so consumer spending might drop, the economy might stall. But people who own homes will actually benefit.

>>56397530
The paper loan holders are getting crushed. They are the bag holders. By extension retirement funds are going to get ass raped. Small banks are getting crushed. Have fun getting a new real-estate loan for the next five years. The whole fucking RE market is coming to a halt. Fully expect all the new inventory coming online to have once in a life time deals from developers. I'm already seeing lots of houses in good areas not sell where I'm at.

Home owners that locked in to a low APR at ATH are not part of the equation. Don't even pay attention to them. That's the aforementioned investment bag holders problem.

>>56397610
Good clarification. Genuine home owners get upset about housing crash threads because they think "home baggie" is directed at them when it definitely is not. Anyone who has a house they can afford, which they're planning on living in for 5+ years, will always be fine, and falling prices is actually good for them as well with tax decreases. It's kike "investors" (speculators) holding stupid amounts of inventory who we want to suffer, because their utility is only in rent and margin seeking behavior which is counter to a high trust culture with a mobile middle class. All people should treat that kind of business as degenerate, home owner or not. It fucks all of us over.

>>56397795
To my understanding commercial RE loans(including SFH investors) are not 30 year fixed rate, unless they lived in the home first for mom and pop operations. But if its an investment from the start I've been told its a whole other ball game.

Also the cost of everything and taxes are going up is cutting into there bottom line. A lot of landlords are discovering the upper limit of what their tenants can even afford from what I'm hearing out there. Mostly because even the renters expenses have exploded. It's gotten to the point that landlords biggest competitors are grocery stores and medical expenses.

>>56397795
>real estate investors
their mortgages are locked but their other financing isn't. some debt will become expensive to service or some expense will rise and then they will need to sell some of their properties. one real estate group in my area bought up several condos, stuck a tenant in them, and not even a year later are trying to dump them for a like a 30k premium. with a fucking tenant in them. and they have the balls to call it a "great investment opportunity" in the listing description.

>>56398074
Yes you don't get 30 year fixed for investments, lol. You get adjustable rate loans, and even worse, you can get margin called on them. This has been absolutely fucking commercial RE investors and soon residential too. Rents are all over the place as big landlords try to protect themselves by raising rents, only to find renters have become extremely price sensitive over the last year. Everyone is leveraged to the gills, and something is eventually going to break. Then the fed will finally ease off. It's the only strategy available to regain control of the markets.

>>56397610
With a 5 year moratorium on immigration the whole market would heal. It's all healing bros. We'll have our own homes soon without irony.

>>56398204
The banks broke earlier this year and the Fed bailed them out yet again. Their only strategy is shift blame and secure democrat votes until the people finally riot

>>56397530
I'll just stay here and not move for the next 60 years until interest rates go back to 0 again

hoomer v rentoid is just as cringe and midwit pilled as left v rightoid

>>56397530
not as fucked as link baggies

>>56398249
They didn’t even do this during COVID with Trump in charge, slim chance

Hold on. Lemme check my zestimate real quick.
>OOOOooooohhhhhHHHHH

>>56398754
>tax bill comes due
>AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAaaaaaaAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHH
rentoids and hoomers are both useful idiots enslaved by kikel bankers, pitted against each other. Who do you think is paying for all of these little pacos to be educated, fed, housed, medicated etc? kek

>>56397530
rentoid cope thread

>laughs in 3.125%
best part was the 25% down payment was all from AMC and dogecoin lmao stay mad rentoids

>>56398766
My property tax has gone down the last 2 years. I would happily pay triple anyway if it meant never being in an apartment again. Try again, rentboy.
>picrelated

>>56398766
Thankfully I live in Commiefornia so my taxes can't go up by more than 1% per year.
Just buy now and hold forever, and you too can have a nearly non-existent property tax in a few decades as property values 10x.

>>56398777
>laughs in 3.125%
check'd

that's most homeowners. We all refi'd when rates were super low. Locked in for life.

>>56397610
yeah anyone sitting on a house for 30 years in anything but the shittiest flyover markets is likely to make money in the grand scheme. My uncle bought his house at the peak before the 2008 crash and was back above water in like 5 years

>>56397530
>>56397588
>>56397610
>>56399075
US house prices are set to mega-crash, they're building almost 1 entire new house for every new American born+person immigrating to the US.

>>56399075
30 years from now my life is basically over, fuck that. i can sit on bitcoin far less time and make it more than a home with constant insurance and tax cost and maintenance. and live in daddy’s basement lol.

>>56397913
This is the truth. People who got cheap fixed rate mortgages a couple years ago got such a good deal that they're going to make banks insolvent, there's no need for the price of the houses to keep appreciating as well. If anything I want more young white couples to be able to afford housing with me, not price them out.

>>56397530
My buddies and I all got nice, huge houses in Detroit for under $100k. Mine was $75k for a 3/2 2000sq ft with a basement and large quadruple lot yard. Work is only 10 minutes away and good hunting land within an hour. My area is a nice neighborhood so I avoid most of the crime problems. Honestly a great spot so long as you can find work here (I work in construction so there's always plenty of jobs). I live like a fucking king and get to save most of my money despite only making $40k/yr. I know most people here will shit on detroit cuz
>niggers
but it's not actually that bad. Just my two cents. If any anons wanna own a large property for cheap while still having the benefits of a major city and with huge nature parks close by, SE MI has a lot of great areas.

>>56398807
Pay to the government so they don't evict you from your molded box.

I live with my parents and save like 90% of what I make. I'm up to 130k now and I've been waiting for the right time to buy. its crazy that rates went up this fast and are this high for so long and houses still haven't gone back down

I'm moving back in with my mom. The shit thing is now I'll have to spend 2 hours a day commuting. I asked for hybrid and my boss looked at me like I was speaking Chinese. I hate my life.

CRE is more pathetic than dog coins

>>56397530
>homes are like bags of shitcoins lol
Only retards rent.

>>56398766
>renters don't understand that taxes are capped

kek

>>56397530
Feel pretty good with my 2.1% locked for 30 years and $0 down

>>56397530
>have enough saved to buy most houses in cash
>cheap rent on a small house in the middle of nowhere working from home
>plenty of nice suburb/rural housing areas around me when I want to start looking
I hope it goes higher honestly. The crash will eventually come and I'll be comfortably waiting. I'm economically ignorant and have no idea who this is hurting but I honestly don't care.

>>56400066
the rates aren't as bad as people make them out to be

a 3% mortgage + a 3500/year prop tax bill won't even meet the standard deduction (13,850), you get zero tax savings

the 7.7% mortgage gets an 18k deduction (roughly 4500/year), which brings the interest down from 28k to 23,500 interest per year, effectively a 5.875% interest rate

>>56399712
>drive 5 minutes in the wrong direction
>crime-ridden, delapidated, monkey-infested shithole
>"it's actually not that bad!!!"
>I live like a fucking king
>$40k/yr
There are still cheap areas in the US to be had without resorting to literal fucking Detroit. Places like Detroit are getting revitalized but they're still surrounded on all sides by shit, and I wouldn't wanna be near any of that as things continue to worsen economically/culturally. Glad it's working out for you at least.

>>56400149
they're not attracting white people to the city because no white person is going to sign up to be governed by black people

they're simply displacing the blacks to adjacent towns and tearing down their homes so they won't come back

downtown is just a date night destination, and a place to watch sports ball, it's nothing but africa in every direction for 20 minutes

>>56399338
>mega-crash
In real or nominal terms?

>>56400208
>pic
Jesus. I had to move to a 25-30% black area for work once, NEVER again. I even lived in the "nice" part of town.
>stolen packages
>nigs aimlessly roaming the streets midday on weekdays
>nigs speeding down your street blasting bass-boosted junglebeats at 4am
>crime still high, have to be on alert 24/7
>can't go to a store/gas station without some nig begging you for money

>>56400297
lmao you don't know what you are missing. My black gf is amazing.

>>56400128
How will it look at 14%

>>56397743
My rent is less than your upkeep, taxes and interest rate though. And it’s not even a low quality apartment

>>56400392
lol this. Trump really fucked hoomers over with his reforms. Hopefully when he gets back in office he will remove the deduction for mortgage payments entirely in blue states.

>>56399338
I don't think stats like that matter when you have things like BlackRock buying entire neighborhoods. Also the market isn't built on bad credit like in 2008, so I don't think there will be a crash. Maybe the prices will stagnate a bit, but you won't have a repeat of 2008 with house prices.

>>56400149
I understand your concerns. I was also pretty worried about it when I first moved here. Started out in an apartment in Highland Park, which is way worse than detroit. Crackheads that beg you for money everywhere you go and people that eye you up and down to see if you're an easy mark or not for robbery. I'm fortunate to be large in stature and and CPL holder, and I go everywhere with my carry so I feel largely safe anywhere so long as I stay alert. But there is definitely real risk for violent crime in certain areas. That being said, the area I bought in, happens to be quite good. There are more pockets of good areas (and the ones that exist are growing) showing up year over year. I really think Detroit is on a slow but steady come-uppance. So long as you don't go to bad areas (which you won't anyways unless you're buying drugs or women) you avoid 98% of the crime. It's a great place for someone with low income or capital to become a home owner and life an upper middle class life. Worth considering of any other low skilled anons out there imo. Love it here. Such great fucking hunting and hiking and also tons of city life right close.

>>56400518
>I'm fortunate to be large in stature and and CPL holder, and I go everywhere with my carry
I am the same, I still don't want to deal with that shit.
>So long as you don't go to bad areas
The problem is the people from bad areas coming to the good areas when they're a 10 minute bus ride away. See >>56400297

>>56400540
And that is an issue. Whenever I go to downtown detroit for music events, I have to park at my friend's apartment nearby. Then take several buses to the inner downtown area. The buses are full with the kind of people you'd suspect. It's not ideal. These are very real drawbacks of the area if you're not prepared to deal with them. Nonetheless, I personally believe it's worth it for the potential to own property and live in a low COLA area while making good wages. Not to mention leasing property is cheap as fuck, so if you have any capacity for production as a business, you can get warehouse space for SO much cheaper than most other places. I'm about to start a business based on indoor food production (specialized nutrients/vitamins) and the overhead costs are far lower here than anywhere in the country. The trick is getting the property just outside of detroit, where you have access to the metro market but don't have to pay the higher property and income taxes. Again, just my two cents.

>>56400597
Makes sense. My tolerance for that kind of stuff is really low so it made sense to pay a bit more but deal with significantly less undesirables. I make a lot more now but my first real job was around what you make so I get stretching your dollar as far as you can, especially these days.

Right on schedule

>>56397530
Well well well

Who fixed at a time when they said interest rates would rise before they actually did.

I'm fixed for 5 years at 2.1%. 130k left on mortgage

>>56400518
>Michigan
>Hiking
Bro I've lived in a lot of places, but I'm from Michigan and back here right now in metro Detroit and the geography here is boring as shit. At least in the west there's dunes and Lake Michigan but there's nothing anywhere near Detroit for skiing, hiking, etc. it's honestly one of the worst parts of the area for me

>paying the barest minimum on a 3.625% mortgage I took out in 2017
>keeping my short-term money in a savings account which pays 4.35%
>storing more and more money in various treasuries all paying over 5%

life is so fucking good right now

>>56397743
>no one wants to sell their homes due to their great locked mortage rates
>prices increase more
>stuck in a overpriced starter home
you're no better than the rentoids

>>56400974
property tax insurance and maintenance don’t exist goy!

>>56399844
Because rates were 0 for a decade too long and all the boomers are swimming in fiat and accumulated assets because of it. Everyone gets fucked

>>56399844
they aren’t that high and it hasn’t been that long moron

>>56400019
do new hoomer baggies actually believe this?

>>56397530
Imagine still having a mortgage in the year 2023 of our Lord Jesus Christ.
Did you just totally ignore the s8gnals of the past four years?

>>56400019
>brownoid from niggerfornia doesn't realize that the vast majority of states don't have a prop 13 tax cap equivalent
good morning manuel gonzalez-lopez.

>>56402756
Prop 13 is being repealed.

>>56397610
No, them too. Even the lulz 2% fixed chuds. You don't fucking get it. First, they come for the ARMs. Then, mass layoffs with no hope of bagging a similar job. This tanks the value of your comps; this tanks YOUR value. You will not be able to sell. You'll be stuck. Even if you get a new job, you have to stay. Even if flooding or wildfires threaten you, you have to stay. Even if WWIII makes your country unsafe, you have to stay. Even if they start 3D printing luxury homes for relatively cheap, you have to stay. You. Have. To. Stay. Congrats on bagholding for the banks, chumps.

>>56402739

Housing "crashes" are like -20% max. People will continue to just shrug and live in their house. This is primarily hurting the people associated with the housing industry as the market is frozen solid, and then maybe RE investors that are highly leveraged.

>>56397828
yea if you look at longterm mortage rates this has been much worse before

>>56402885
good. i hope to live to see decrepit boomernigger retards sucking cock for property tax cash.

>>56400297
Skill issue

>>56400066
>tfw bought a house in 2018
>tfw fell for some tricks and got an ARM
i'm now at 5%, which is sort of in the middle of not good and totally bad, though i only owe 76k on the house. do wish i re-financed in time though.

>>56401852
Rates were only 0 for 3 years you stupid faggot. The 2016-2017 crypto bullrun occured during 2+ years of rate increases, and they continued to increase until 2020.

>>56402988
Housing crashes aren't the biggest problem for people with mortgages. Interest rate rises are.
With a crash you can just hopefully ride it out until the market recovers, if the interest rates rise and you're on a variable rate mortgage or you go from 2% to 4% or 5% then you're fucked.

Before low interest rates were normalised, house prices were low to compensate for the higher interest rates. When low rates became normalised, people pushed up the prices of their homes because buyer could theoretically afford it.

This has led to out of control spending.

>>56400066
>50%
Americans loan money expecting theit currency to take a big shit

>tfw 7%
It's not fair, bros. I just graduated and wasn't able to afford a house back when the rates were rock bottom. Then got laid off over the holocough hoax. And of course just when I get my shit back together and accrue enough wealth for a down payment on a good house in a nice location, that's when everything goes to shit and the rates explode. Ultimately I needed a house and I simply wasn't willing to be a rentoid or live with mommy anymore. Is what it is.

>>56397530
Right now is actually an excellent time to be a real estate mogul. Buy a bunch of cheapies and when interest rates crash down to 0 again in a couple years, take an easy 3-5x return

>>56399338
>for every new American born+person immigrating to the US.

That still leaves out millions of young adults to fall through the cracks.
Fuck Wall St.
Global Jihad now

>>56397530

>>56403875
We need to get the niggers out of this country

>>56403926
oh wait here's the updated one :^)

>>56402967
I'm just not selling and if some natural disaster or global war obliterates me uhh... I don't think selling my house would have helped.

>>56400974
You dense mofo. This has to be bait.

>>56400966
northwest metro detroit has ski hills (mt hollly, mt brighton, alpine valley, pine knob)

there's also a dozen or so rec areas and metroparks for hiking, and lots of inland lakes/rivers

driving up north quadruples the ski opportunities and the hikes get more interesting (sleeping bear, pictured rocks, tahquamenon)

obviously being out west is better, but michigan beats every midwestern/southern state for outdoor activities

>>56397530
>mfw 3.125% on a 30 year
>paid off in 2027

>>56400878

>>56397610
I'm from around this area. Round Lake is majority Hispanic and is unfortunately very poor

>>56404392
Gonna delete your post again shill?
https://desuarchive.org/g/thread/96655655/#96668481

>>56400966

I'm from Ohio and I'll rag on Michigan for a lot but scenery is not one of them. Not sure why you're complaining with beautiful lakes and foresty/hilly areas galore.

"Rentoid" vs "Hoomer" threads are consistently the worst and most retarded threads on /biz/ with no substance but name calling and bickering.

Congrats OP on getting through my filters.

>>56397530
My Zestimate is higher than ever. Enjoy your pod rentoid.

>>56403927
Wrong.

>>56403977
Of course it would have. You could have left before it got bad.

>>56397530
How do you figure? My home is meant to be lived in. Why would I sell it just to get a higher monthly payment? This just means if I ever rent it out that the rent is higher.
t. 4.5% 30 years fixed with a monthly of $1700

>>56404948
I hate when the guy speaking truth to power veers away from that truth halfway through and careens headlong into boogaloo propaganda.

>>56397530
imagine bagholding a $400k+ loan LMAO

>>56400392
That's necessarily false. Your rent is the mortgage, tax, upkeep, plus tip of someone else's property.

>>56405338
renters are the losers of society, don't engage

>>56398725
there is no hope for link jeets
>>56397557
this, if you own a house or have a low rate you made it. Congrats
>>56397631
RENT IS DUE

>>56405537
yeah but it's worthless
>have plywood box equity
>sell it, get cash
>buy another plywood box that also pumped in value

>>56397530
OH GIVE ME A HOME
>WHERE?
THE BUFFALO ROAM
>AND?
THE DEER AND THE ANTELOPE PLAY

>>56398766
>pitted against each other
Only in biz lol

>>56405610
My house is made of brick and wood. Cope harder, rentoid. You're paying your landlords mortgage for a plywood apartment box that will burn to the ground when shaniqua burns her fried chicken.
Insurance will not cover an act of God.

>>56405281
Oh yeah??? Wrong am I mr. Nigger lover? Heh... I doubt it you fuckin nigger!!!

>>56405938
>inane Y-YOU'RE COPING post
i'm buying a shitty house in my meth addicted hometown with cash. how many decades are left of your welfare layaway plan?

>>56406208
>It's welfare when I buy a house at 4.5% while (((real inflation))) is 6.5%
You're going to stay poor for a long time. If I rented instead I'd still pay for all of the costs you associate with home ownership. Only difference is I own my home.
It's a 30 year mortgage but I could technically pay it off in a year. Doesn't make sense to do that though.

>>56404948
Wow that was so stunning and brave. Clearly the guy posting a catgirl next to a burning building is grounded in reality

>>56406368
real inflation isn't 6.5% retard, especially for homeowners (people who actually own their home, not layaway welfare niggers like you.) you're losing money and paying the bank interest because you're poor. chop chop, wagie. escrow's due!

>>56406183
>I doubt it
I don't care.

>>56400066
>pic
So the only options are to live with your parents or live in an RV. You have to be insane to buy a house on a mortgage, and a cuck to pay rent.

>>56406822
>He believes "real inflation numbers"
How much are eggs again?

so what are hoomers going to do when the draft arrives and they cant dodge lol

>>56400597
>COLA area
>Cost of Living Adjustment Area

>>56406965
>talking about egg prices
should have known you were poor, to be concerned with egg prices. but to answer your question, they are back to normal pricing.
>MUH HEGGIN EGGS!!!! THAT $3 IS LIKE 2 HOURS OF WORK FOR ME!!!!

>>56402885
>prop 13
>repealed
lol, no. No matter how commie this place gets, prop 13 is sacred to Californians. Any politician even daring to look in the direction of changing it, ever, for a minute, would be immediately sent to the bottom of the sea and imploded.

Oh fuck it's actually going down

lmao all three of my places print airbnb and lease money every month - i may raise it on airbnb right now just to make neets never be allowed freedom outside of their mothers homes even for just a weekend.

>>56407509
>all your neighbors vote to make airbnb illegal
heh, nothing personnel kid

>>56407224
>Projection
I make over 200k a year but that doesn't mean I don't see that things are more expensive than they used to be.

>>56400297
Yeah blacks are pretty bad once they are in a group. Think about this, apparently they are 16% of USA population, but commit 60% of all crime. A city with 10% plus blacks, I can’t even imagine the norm there.

>>56404189
>ski hills
More like former landfills

>>56406208
>i'm buying a shitty house in my meth addicted hometown with cash

why would you pay cash for a home?

>all these fags bragging about their interest rates
I simply bought my house in cash. Small seaside town, desirable neighborhood, one of the whitest states in the country. I have no monthly housing expenses other than utilities and insurance, so I can easily afford my lifestyle working easy part-time jobs. I'm basically retired now. Must suck owing money to jews, I wouldn't know what's it like

>>56397530
>home baggies are so-ACK!!!!!! *gets evicted by landlord*

>>56403845
the dollar value has only gone down over time and through all of history. If theres one bet to make, it is that the dollar will lose value.

>>56404948
Lmao, /pol/chuds actually think they're in a movie or something.

You people don’t get it do you? The landlord always wins

>try to flip house
>oh nose rates to high
>rent at market rate rent (which doesn’t drop)
>wait 10 years for all the shit to be wore out
>sell
>profit

It’s a win win you fucking idiots

T. Landlord

>>56400011
How are you supposed to afford to buy a home. You need money for a down payment, you need to get approved for a loan, and you need to pay other fees.

>>56405021
It's just homeowners being assholes. They aren't even landlords, they just own a home and laugh at people who rent. They're just pieces of shit generally.

>>56405938
How are you supposed to buy a fucking home and when you can't afford it. To buy a home in this country you have to live with your fucking parents until you're in your early 30s. No one before us had to do that. They all got to buy homes right after college or off some job that doesn't exist anymore or sucks dick now. It's fucking bullshit.

>>56399338
>old houses are not selling
>"how do we solve this? I know, let's construct new houses!"

>>56407509
Why are you such a piece of shit.

>>56409215
Maybe get a real job and stop trying to live in the same 6 cities that everyone else is. If you can afford to rent then you can afford to buy is you save.

>>56409239
I didn't get to choose where i grew up. >Just get a real job
Yeah, it'd be a lot easier if i could just walk in and get one. Fucking boomer mentality faggot.

>>56409239
fuckin die you piece of shit. the world will be better without people like you. you guys enjoy being pieces of shit. you're a worthless human being. subhuman fuck

I locked in back in 2021 with 2.99% fixed rate 30 yr loan. Never refinancing that house again.

>>56409276
HA HA!! BAGGIE!! I BET YOU'RE ONLY UP 45% INSTEAD OF 50% NOW LOL GET OWNED

>>56409263
Where you grew up has nothing to do with where you should move. Move.
>>56409270
All those words just to cope. You know I'm right. When your parents bought their home the town was likely a nowhere town. Now it's developed and their home is worth a lot more. Do the same. Move away and make something for yourself.
"NOOOOO I HAVE TO LIVE IN THE GOY POD OTHERWISE I CAN'T BE HAPPY"

>>56397557
The whole point of owning is to have access to credit at the market interest rate. You now have as bad a rate as someone applying for a personal loan without a house as collateral.

damn hoomers are losing it.

EIGHT FUCKING PERCENT?

>>56400297
>junglebeats
kek

>>56403927
They’re not the issue (in this very narrow case). It’s foreign buyers, and immigrants

>>56409228
Youre responding to, at best, a seething NEET in his moms basement, or at worst, a literal glownigger golem posting from a basement in Langley.

just here to drop this turd off for the home owners

sorry!

>>56404948
>AI run on quantum supercomputers
lmao what a tech illiterate faglord
AI runs on nvidea cards lol

>>56409052
you didn't even read that, did you?
lmao

>>56397795
>I don't think too many people out there actually flip homes

I do it regardless of fucking interest rates you fucking pussies

>>56403992
t. cryptotard

>>56409679
>10% down

lmao, gotta make sure we charge PMI so that the calculations work