/biz/ - Business & Finance

>>57294474
Better start cooking crack in the cocina hombre

>>57294474
kek hoome oownership is the biggest meme of the century

>>57294474
owning a house means buying with cash
Mortgagecucks don't own houses

nice job bro, you added $1600 to your own equity
plus, if the value of your house went up, you could sell it at any time for a profit
meanwhile 0% of a rentslave's payment goes into their own equity, lol

>>57294502
If you OWN the house, why do you need to pay yearly rent to the government?
You only really own things you have on you or crypto you have your keys

>>57294488
>>57294474
Might be better to turn that house into a meth lab. You could have it paid off in a few months

>>57294474
Lmao, $75K in interest, $1,600 against the principal...

This has to be some hosuecuck in Canada.

>NOOOOOO, HOUSING ALWAYS GOES UP BRO, EVEN WHEN YOU BUY IN AT THE VERY TOP, IT WILL 10X FROM HERE

Wait, so is owning property a jewish scam now? but I thought being a rentoid was pure kikery. I can't keep up with every /pol/ meme

>>57294536
property taxes are like 1% per year in most countries/states/municipalities, literally nothing

>>57294553
having a mortgage and owning a property are two completely different things.

>>57294553
If you’re going to own a home plan on staying in it for a long period of time. Getting a 30 year mortgage and then trying to sell it after 2 years is going to leave you with little to know equity. Most mortgages have a thing where you pay a bunch of interest up front then you start knocking down the principal after a few years. This screenshot seems wierd so I don’t even know if this is a US loan or some other country.

>>57294542
but it's only 5.9%, that's historically pretty good, you should expect the average over the next couple decades to be at or above 8%
the days of 3-4% mortgages are gone, that was a bubble from george w. bush suggesting black people should be given mortgages with no money down and no proof of income and paul krugman agreeing with him

>>57294553
buying a house with cash isn't jewish but getting a loan to do it is, it's that simple

>>57294516
>you could sell it at any time for a profit
you mean pay heavy taxes on any profit unless you upgrade to a more expensive house (mortgage)

>>57294566
1% of a million are still 10k a year you can rent for that.
Here in Germany its usually below 0.3%
But the point that that you have to pay at all not how much.

>>57294566
imagine you had a 5x leveraged stack of SPY and they charged you $5k a year in after-tax income just to hold it after also paying 7% interest

>>57294474
Put it all on black on Dplay and get 2 houses or nothing, it’ll be the biggest thrill of your life

>>57294474
Just how are americans ok with this? imagin dying or have some loved one die because of this shit.

>>57294474
real estate is a scam

>>57294553
It's not a scam if you buy something that's actually affordable i.e. 3-4x income, and over pay your mortgage to pay down principle faster.

Something crazy like for the first ten years or fifteen years you are only paying interest

>>57294474
How the fuck is front loading a loan like this legal?

>>57294916
Worst thing is that people don't even know this is how it works, and will then re-mortgage when moving home and start all over with front loaded interest, unless they reduce the term of the mortgage.

>>57294632
>tfw I'm black man with 2.75% APR mortgage
Your white children will have to rent this house from me lol

>>57294916
1. Jews
2. Dumb people think they're getting equity the second they make payments
3. Jews

>>57294679
>heavy taxes on profit
no

>>57294955

Not my children you overly confident simian. I own my house outright and have no debts. I will be buying your house to give to my kids for pennies on the dollar when the bank calls in your loan to cover their folly. You'll be shining my shoes to keep from being evicted. Don't forget to do a little softshoe to keep me entertained, Rodchester.

>>57295240
>Not my children you overly confident simian. I own my house outright and have no debts. I will be buying your house to give to my kids for pennies on the dollar when the bank calls in your loan to cover their folly. You'll be shining my shoes to keep from being evicted. Don't forget to do a little softshoe to keep me entertained, Rodchester.
Llllllllllllll I'm screaming rn

>>57294553
Mostly everything is a scam

>>57294596
"have a thing"?
it's literally how interest works you braindead zoomer
5% of $100,000 is more than 5% of $99,880 after you paid to live there a month so there was more interest paid

>>57294474
My P&I payment is 1600 and half goes to equity

>>57294495
>t. tribe of Benjamin

>>57294632
huh?
That's not 8% that's 4636%

>>57294553
Jews deleted Martin Shrekelis video from YouTube where he shits all over the idea of buying a home instead of renting telling wagies they'll be dumped on by investment corpos. That was from before he went to prison. Keep up anon.

Did I get fucked over again today?g

>>57294502
Only idiots buy with cash

>>57295860
Explain your logic

>>57295898
Housing debt is cheap, it's better to invest the difference. Unless for some reason you are paying over 10% interest on the house.

>>57296083
rates being what they are you'd need to GUARANTEE 6%+ yoy returns

>>57294566
You don't understand mortgage cuck, you HAVE to pay taxes forever. Chad renters like me never pay taxes, taxes are never built into the rent and passed along to me by my landlord and my rent will never go up. Suckers like you have to pay money to jewish banks and get charged interest -you never own anything, and don't give me that equity bullshit- it's just numbers on a piece of paper. It's always better to rent than to "own" and I'm in no way priced out and coping

>>57296095
>b-but the S&P was up 21% last year and an 8% yoy avg growth

>>57294474
>principle paid: $1,503.31
>interest paid: $74,328.45
holy fuck how is that even legal?

>>57294516
So he added $1600 to his own equity and paid $75k in rent?
That's $6,250 a month.

>>57294474
always pisses me off when people call themselves home owners when there's still a mortgage on it

>>57296286
this LOL. Sad when people are wired to want "big things" when they can't afford it. They just think they can.

>>57294701
>1% of a million are still 10k a year you can rent for that.
The only places you can rent for $10k a year are poverty shacks
A $1m home will be orders of magnitude better than any shithole you rent for $10k a year

>>57294596
Who the fuck can count on staying in their job for 30 years in our fast and lose society?
Also if you're married, the chances that you will get divorceraped and have to sell the house to split the equity with the wife is like 100%

>>57294474
having to pay for it after you have paid for it (taxes) and having to fix stuff is gonna suck

Paying more than 100K for an OSB box has never been anything but pure madness and degeneracy. If the walls get wet you can push your hands through them like a paper towel or like my dick through the hymen of your sister

>>57296360
Also keep in mind that these shitboxes are slapped together by illiterate hondurans who don't give a shit and treat the entire construction process like a speedrun.

Imagine how better off they be putting $74,328.45 into crypto a year ago instead

>>57294495
>kek hoome oownership is the biggest meme of the century
imagine coping this hard you don't live in a house

>>57294596
>little to know
pajeets and esls should stfu when subjects for white people are brought up

>>57296446
and where is he living? he not gonna paying rent? is he living with mommy and daddy?

>>57296352

These men are taking dumps.

>>57295860
You’re not putting value on the lack of stress. Owning a home out right, with no mortgage, is far superior in that regard. Sure there could be a lost investment opportunity. But, that P+I payment is due every month, EVERY MONTH for THIRTY FUCKING YEARS(with heavy front loaded interest for the first 15 years, that bank will get their money first).Think you have a secure job? Happily married? You believe you’re healthy? Your wife healthy? If any single one of those assumptions doesn’t go to plan, guess what? That mortgage payment is still due every month. I can see your stress induced receding, gray hair line from here.

>>57296543
He doesn't think about any of that stuff because he's a 15 year old larper.
In his mind biz just means maxing out credit cards for investment funds and then perfectly timing the markets every single time. If that sounds implausible to you it's just because you're stupid, clearly.

>>57294474
good job anon.

>>57296083
what if you have lots of money and an extra million for a free and clear house isn't that big of a deal? and also you're canadian so your house went up 125K in a year. and you're responding on /biz to someone less wealthy than you? What if all these things are happening?

>>57294553
Mortgage = usury. And no, you don't own the home if it's mortgaged.

>>57296083
>Debt is cheap
You aren't buying anything. You are paying for the privilege of borrowing something that you will still have to return in full. Interest always results in a net loss for you. You may as well be saying cheap loss.

>>57294572
This. Why isn’t this common knowledge, if the the bank holds in their possession the title, the bank owns the property.

That's fucking crazy. Pure debt slavery right there

>>57296543
>I don't care that my mortgage rate is sub-4% after deducting mortgage interest and property taxes
>I don't care that I can park my cash into stocks (8%) or normie treasury bills (4-5%)
>I don't care that I can refinance to a lower rate if rates go down
>It's about "peace of mind"

Only idiots buy with cash

>>57297304
>I can just borrow money and my stocks will outperform the debt and the accumulated interest (50% of the value of the loan) because number only goes up.

>>57297325
You almost had it

>>57294536
in some countries there are property taxes also on crypto, even if you don't trade, even if you do self custody
of course you can avoid declaring them, but if they catch you the fine is crazy and you can never cash out (legally)

>>57296543
I chuckle because blacks living on welfare never have to deal with any of these concerns. The state will buy them a house, if they burn it down, they will buy them a new one. To be black in this country is to live life on easy mode. Imagine no responsibility and free from care, as happy as a monkey swinging through the trees of the jungle. happy mlk day btw

>>57297383
Women too. Everything just gets handed to you and guys will stumble over themselves to give you whatever you need

>>57297304
Nice try jew, but I saw Jake Tran's video on home ownership. Not falling for your bullshit now!

>>57294916

It's not "front loading". You're paying the interest rate on the total remaining balance. You pay less interest on the loan as time goes on because the remaining balance decreases.

Captcha: M4TH, math, you're bad at it, nigger.

>>57296460
>2 million € on VHYD paying me plenty o' divvies to do what I want
>im chiling in Madeira eating good food and enjoying nice sun with low taxes while renting in cool places
>TARDS will punish themselves tied to the same jurisdiction for life because they put their networths on fucking real cuckstate

>>57297403
Thank you for renting

>>57296295
When the mortgage is paid off, you still have to pay property tax, so no one ever actually owns property, just the government.

>>57296543
Yeah, but if you got sick or you got a divorce or something, you'd probably have plenty of equity to allow you to sell the house and quit the mortgage without any issues. Now, if you were actually in a negative equity scenario and you lost your income, that would suck, but to get into that situation you would have had to buy a large premium on your house (as in, you bought something fancy) and you would have had to have bought around the top of the market. If you buy a house that isn't over-capitalised and isn't in an area that fluctuates wildly depending on the market cycle, then you're unlikely to go into negative equity. Ok, the whole economy could go into severe deflation and the giant debt bubble could unwind, but if that happened everyone would be in the shit so on relative terms you wouldn't be that much worse off than everyone else (except for smartarses who decided not to buy a house, in anticipation of the crash, even though they had plenty of cash and income ready, but those people are literally and figuratively betting against the house).

>>57297565
Truth. But in quite a few places this cost is negligible and being in this position is the closest they will allow us cattle to get to freedom and “ownership”. Although this is one of the blackest pills in life to swallow it is unfortunately our reality in this clown timeline we are in.

>>57297404
This is correct.

>>57297404
Stfu dumb kikel. Look at that image. He's paid almost 80,000 in only interest and 1900 in principal.

>>57297619
Yeah, he's paying about 5.91%, so what? He could probably get a mortgage a little bit cheaper but that's not far from the typical rate.

>>57297608
It is a game of odds. But either way, later on paying down that mortgage near year 15, you’ve paid a possible 6 digit amount of straight interest to a large nosed banker. I’m a man of principal and will simply never do that. To each their own. I sleep sooo fuckin good at night knowing I don’t owe those demonic rats a dime.

>>57297674
Sure, but the interest paid over the time period may be similar to the rent paid to live elsewhere, and then you get capital gains too.

>>57297538
Rootless cosmopolitan Jew with extra steps, except without any of the ethnic identity and institutional power. Just pissing away funny money. You people are funny, but hey enjoy Madeira it looks pretty nice.

>>57295823
Video got re-uploaded by someone who compiles his livestream clips, I think the link related channel.
TheShkreliPill

>>57297635
My point, nigger, is that every payment on a loan should have majority going to principal or at least fucking 50%. Then again you love usury.

>>57294516
idk man I only pay $1600 atm...

>>57294955
Enjoy renting to Mexican cartel mafiosos, 'Rone.

>>57297788
lol seems like you are coping now. he made a pretty convincing argument DESU

>>57298785
I thought he was an American bc I didn't see the Euro symbol, so I just figured he was some expat kike instead of a European. Good for him.

>>57297824
>Should pay more principal.
This can easily be done by paying extra once you've covered your interest bill. They guy paid $80k in interest he could have paid $160k in principal if he had the cash. But, if you don't have the cash, maybe you should not borrow so much. That said, the saved interest on extra payments is like being paid interest to the same amount as your mortgage, but tax free unlike regular interest. It's also risk free but you may be able to find better places to put your spare cash, so paying extra principal isn't always wise, there is opportunity cost.

>>57294536
>If you OWN the house, why do you need to pay yearly rent to the government?

If you owned a house you would probably know where property tax is spent. You going to pay to maintain all the public infrastructure around your house alone? Got a snow plow to clear the roads do you?

And I’m bitching about my 10K debt… Good luck OP, SBO is rewarding but holy shit some times it makes you feel like a negro having a heart attack.

>>57294474
Toronto or Vancouver?

>>57296543
the duration risk is worth it when your ability to grow money vastly exceeds your mortgage rate and the growth of property taxes in your area
>>57299396
that's correct, that's exactly what we pay attention to. if the city doesn't act right, i sell the house and roll the proceeds from that into the next house, somewhere else.

>>57294474
I just live in my parents house for free.

>>57296519
And urinating as well. You could say
>peepeepoopoo
Happy king nigger day

>>57297735
In the US you don't pay capital gains on your primary residence if you live there for 2 years

>>57294701
is the takeaway from this that I need to move to Germany?
0.3% is way more reasonable

>>57294474
>just 785 more years and this baby will be all mine

>>57294474
Rentoid here exploring buying a home. If I have a mortgage with a determined interest rate and then I some how come across a large amount of cash (like winning lotto, inheritance, etc) can I just pay off the entire mortgage cost and not be on the hook for interest? Or will the kikes demand I pay that 30 years of interest despite paying all their money back that I borrowed?

>>57294536
A: Because the South lost the Civil War and Lincoln was allowed to begin implementing property taxes for the first time in American History. Seems the Good Guys have been losing and dying for all of human history while the Money-changers conquer everything.

>>57294746
No, it’s supply and demand. People keep fucking and having children so demand is high, hence price is high.

>>57300236
Yes you can pay off the principal anytime. No you will not pay any further interest. At least in the US that’s how it works.

youre the nigga who wasnt happy with a modest 150k-200k home and just had to get one valued at 1.5mil

>>57294553
The meta is shifting because the market is crashing.

>>57300421
That’s actually wrong. People are having less sex and less children across the board in all western countries. The housing prices are due to letting browns in

>>57300236
Once you sign the dotted line you aren't escaping interest. They have determined how much money they expect to make on the loan when they allocated money for your house. They will get that money.
This is why they front load the payments with interest. In the event that they have to repossess the house, they get full equity and keep all the cash you gave them for the loan.
Also if you try to pay it off early a lot of places have "prepayment fees" where they charge you for trying to settle the debt too early.
The financial world is a den of inequity.
Think about it - the entire financial world is made up of people who are trying to get rich without doing any work. You're dealing with vipers. Why would you expect to get off easy?

>>57301259
> the market is crashing

LOL

So if you get a mortgage, pay it every month for 10 years, and then something in life happens and you can't pay the mortgage, does the house just get taken from you? Do you get any of the principle you paid into paid back? Or any of the interest? Are you just fucked or do you get anything out of it?

>>57294955
Based ceo nigga
I bet you have 7 streams of passive income

>>57297788
>>57298820
>muh jooz
You cannot even leave the IRS as a burger so you don't have any options anyway

>>57294553
Bizlets are worse than Chinese parents. You not only made the worst choice and lose, but any choice you make means you’re jewish.

>>57296150
> taxes are never built into the rent

Lmao sweaty summer man child…

>>57300236
You can get a fixed rate mortgage or a floating mortgage. People get fixed mortgages because of the certainty of repayments, but sometimes floating rates are cheaper so they get that.
You can pay a lump sum into a floating mortgage, but you can't change fixed repayments until the term is finished. If you break a fixed contract you will pay penalty interest.

>>57294474
do people really not know how mortgages work.

>>57295810

Reading is tech. The statement period is annual. That being said OP is functionally in an interest-only mortgage which is either really sad, or part of a 4D-chess financial game we don't have enough context to evaluate. Still fuck 6 grand a month in rent...

>>57305024
>That being said OP is functionally in an interest-only mortgage which is either really sad, or part of a 4D-chess financial game we don't have enough context to evaluate.
This is the power of the canadian banking system, mortgage fraud and money laundering bidding up the price of housing way past any semblance of sanity so normal people who work for average wages have to leverage themselves for life in order to live a decent life.

>>57297538
Based. Mortgage owners always get so aggressive and defensive when you call out them falling for this Jewish meme "investment"

Once they're ousted a new law should pass that says principal is always paid before interest.

>But muh banks won't make money!
I'm sorry, is it not enough to sit in an airconditioned building with EVERY half nigger assed excuse for a holiday paid and off?

>>57295410
I agree with this. The more knowledge you have of the economy the more scams you recognize. It is literally scams all the way down.

Buying a house was basically the best financial decision I ever made. Not only do I never have to deal with landlords, I have a place I can get a 6% guaranteed return on my money by making early payments. Every 20% of the principal I pay off I will refinance to increase my cash flow which I will benefit from for the rest of my life, while renting costs only ever increase. I paid off this much in a single year, the key is to purchase something way below your income which will allow you to put 1000 or 2000 into extra repayments every month.

>>57297805
The problem is Martin's video was made before housing doubled. If you rented you lost big time.

>>57306049
Your first sentence is 100% true. The problem is that it was not the most profitable thing you could have done. Imagine if you put that down payment into meme stocks or crypto. You could have had 500% instead of 6% a year.

>>57306049

when do you expect to pay off the house? i am interested in ways to pay down the principal sooner to avoid paying interest

>>57306120
Not them but the best advice is to rent out part of the house or even the garage. The second best advice is be sure to put 20% down to avoid PMI. The third is refinancing when interest rates go down this year depending on when you bought. The last advice is a home business in which you take advantage of the home office deduction or other deductions.

>>57297404
Right, the tipping point will be in 500 payments.

>>57306345
All great points, I aim to have it paid off in about 7 years but honestly once you've paid off the mortage to the point where you don't even notice the monthly payments, you're better off just investing the money and paying the minimum.

Kek people who rent are only fucking themselves. Sure your rent may be lower than a loan payment but you get jack shit out of it. The landlord can jack the rate or kick your ass out at any point if they want. You own nothing. All your doing is lining the pockets of the landlord. A house needs work on occasion. "The landlord pays for the repairs so I don't gotta" is a common thing I see a lot. Get real. Unless its a real shit box the most expensive thing you'll ever replace is maybe the HVAC or the roof. Both of these last 20 years (HVAC) or longer (roof). So basically at most you'll replace those once or twice in your lifetime. Do the math. Gee real costly huh. Assuming you stay in the same house for that long that is.

>>57295497
Yeah man those jews just HATE it when people enslave themselves by taking on life long debt

>>57303284
More like 19 if you count my ETH validators :)

>>57302626
If you just completely stop talking to the bank and making your payments, the bank will take possession after about six months of formal foreclosure proceedings, and you will lose everything as a result of being irresponsible and icing out your lender. it is preferable to either 1.) sell the house yourself before foreclosure and pay back the loan in it's entirely (plus pocket any equity as cash), or 2.) tell the bank you don't want the property anymore and they can have it ("deed in lieu of foreclosure"). You do the latter when the sale of the property won't cover your debt (i.e. property value went below what you owe on it) and it can be a convenient way to avoid any consequences to your credit (score)...in fact this is an advanced form of debt maxxxing and is major component of the current commercial real estate crisis where the banks are actually stuck taking back the properties instead of interest income. a clever debt maxxxer can actually make money effectively shorting specific real estate asset by pocketing cash withdrawn from a home equity line of credit or similar loan and forfeiting the property after it has decreased in value

>>57294474
>buy a the cheapest house in the nicest area I can afford.
>same cost as renting
>refinance after 2yrs @ 3.625%
>remove PMI and lower Interest
>now cheaper than renting
>house doubles in value.
>rent out 2 rooms to my bros
>mortgage is now $400 a month.
>now I can leverage that for other investments like a building a apartment over my garage.

>>57307444
Do you sometimes fuck your bros?

>Verification not required.

>>57294495
t. Tom Selleck.

>>57308970
whenever it says "verification not required" its because the mods are pre reading your message and they approve of it. so thats pretty funny, the mods think that guy is gay

>Verification not required.

>>57294709
Literally me. Well I'm only 2x in Nascock-100, also comfy oil divies thanks to buying in 2020 when pretty much all of the retards here were ''lmao oil is finished, over 35 bucks NEVER EVER''
Now my investments pay my yearly rent. Just a bit more, and they'll pay my food and pretty much the rest.
Meanwhile mortgagecucks signed for 25 years of slavery and wagecucking.
I don't fucking understand what causes this mindset. Meanwhile I'll be able to retire.

>>57294474
why don't americans just buy a plot of land and build a house
srs
I've seen the plots going for 30k right after the zoning ends
do they value the suburban experience this much? are they just retarded?

>>57294553
They're both scams
Live in a van

>>57310483
My buddy is doing that in the middle of nowhere. Material costs are insane. $26k just to install a gravel driveway with a culvert to get heavy trucks in to start construction

>>57310483
The plots of land for $30k dont have municipal electricity, water, consumer goods and emergency services.
Also threadly reminder that blanket advice to buy or to rent is flagrantly retarded since RE markets are hyper local and everyone has a different personal valuation of the hassles and conveniences for each. Both of them suck but you have to live somewhere.