/biz/ - Business & Finance

>>57320914
a stone house... IN AMERICA? i thought they only build OSB + Cardboard McMansions????? also good price man , where do you live?

>>57320927
there's a brick house down the road from me and it looks awesome. a red brick so it stands out and its up on a hill so it stands out even more. I always thought it'd be a cool house to own. the rest of the houses around here are all wood and cardboard along with 2 small tiny trailer parks right on the business strip road (the poor and rich are literally a football field apart in distance).

>>57320927

>>57320927
It's a facade.

>>57320914
Why not just rent and invest all your savings into boomer funds and BTC?

>>57320927
>>57320945
northeastern pennsylvania. it's a fentanyl/meth addicted shithole but a much better alternative than a mortgage for 30 years on a $500k suburban goybox + $8k/year property taxes so jamal and pedro can fail out of public school.

>>57320914
Buying at a good price is more important than paying all at once. At a good price you can get an open mortgage and pay it all off in a couple of years. The fucking price swings in the housing market can fuck you if you sit on the sidelines and watch good buying periods pass you by.

>>57320914
nothing wrong with home loans retard

it's going to take three years of your life to just get a roof over your head

not a big deal for a chud living with their parents, but people starting families don't really have the luxury of waiting that long, and so are forced into getting a mortgage

>>57320927
what an absolute street shitter thing to say

it's the same stick-built structure with plywood sheathing as any other house, but has brick facade for siding

>>57320949
doesn't look like facade stone to me.
>>57320960
ah yes. there's a lot of dutch heritage people there. the dutch are known to like abusing amphetamines.

>>57320969
shalom

>>57320970
>but has brick facade for siding
the chimney makes me think its real.

>>57320927
>stone
Those are bricks

>>57320969
okay retard have fun buying a jew bank the equivalent of a second home in interest payments over the term of your mortgage. better not miss a single payment or all those years (decades) of on-time payments will mean absolutely nothing to mr. shekelowitz!

>>57320981
>>57320992
it's just a stock image that i found on jewgle. there's a 0% chance that home is in northeastern pennsylvania.

>>57320996
not that hard and it is cheaper than renting

>>57320996
Not everyone has the luxury of mommy paying their bills.

>>57321038
>not that hard and it is cheaper than renting
no it's not you dumb nigger.
>>57321064
i live in a 1 bedroom apartment and pay my own bills.

>>57321007
well you picked a $1m home to illustrate your point
https://www.longandfoster.com/homes-for-sale/6418-Noble-Drive-Mclean-VA-22101-234793644

>>57320927
Bricks just sit on a footing and are tied into the stick structure. The bricks are non structural. Not bad though it keeps the elements at bay. We don't typically build with stone in North America, even mansions with huge block exteriors are structurally made of wood not stone. The only exception you'll see in modern construction is when the house is made of concrete.

>>57321336
in europe all houses are brick placed on cement and steal basement funding. imagine paying a million dollars for a cardboard box.

>>57321536
Wood homes can last a very long time assuming they stay dry and on good foundations. There are certainly way better ways to build a house but it doesn't mean wood is le bad. What makes wood shitty is it's thermal quality, very hard to stop thermal migration through studs with some insulation between them (unless you Larson truss it) also very hard to make them air tight and also lots of layers of labor that all need to be done right to achieve the on paper goals. Eg drywall guy misses a stud, now you have a hole in your vapor barrier and nobody is wiser. By the time the house is done it's full of holes and air gaps.

The best construction method imo is insulated concrete forms + interior studs with more insulation (depending on your climate). Skip the basement and pay attention to solar gain/solar orientation.

T. Tradie.

>>57321611
>Wood homes can last a very long time assuming they stay dry and on good foundations.
i've seen how they build homes in america. its thin wood balks and osb. wooden houses in europe are build with actual logs of wood. real wood. american houses are build with LMAO OSB plates.

>>57321611
>> skip the basement
its common to have a basement in europe. its like an entire extra house down there if you have a complete basement. also its cool in the summer so if its too hot upstairs. i sleep in the basement. no energy wasting airconditioning needed.

>>57320914
There are WFH jobs in the US that pay $30k? I thought you all got six figure salaries.

>>57320927
It’s just cladding. Not structural. It ironically makes the house go to shit sooner than if it were just wood with siding. Most residential brick buildings in the USA are like this unless the building is super old.

>>57321536
Imagine being a Europoor living in a shoebox. My kektiscles.

>>57321648
They’re saying they have that after expenses. Salary is probably mid $100ks but blown on city rent and food delivery.

>>57321646
>Basements
Climate will determine your needs for a basement. If you are building for solar gain and thermal mass to not may the utility costs, basements can be very detrimental.
>Europe logs
Maybe 50+ years ago. Europe doesn't have the volume of wood we have in NA. Not defending wood construction but it's not as dumb as people say. The issue with wood that tells me nobody knows what they are talking about here is not the structural aspects, rather, the off gassing of chemicals from the osb sheathing and flooring, and like I mentioned before, lack of air tightness. My family farm is from 1930 something and made of wood, it's totally structurally fine to this day. I'm also currently on a 250 million dollar home project, it is all wood with some steel structure for larger spans where wood didn't make sense, I'm not convinced architects are that stupid.

>>57321700
if you don't have a basement in europe it basically means you are poor.

>>57320914

Where are you at OP?

I live in the rural Midwest and even our decent homes are around $250 - $300k.

>>57320914
I have a 2.5% mortgage on a $500k house (now) that I bought for $300k in 2016. Cope seethe and dilate no hoomer.

>>57320951
You had 15 years to do that zoom zoom. Use your brain you’re not early.

>>57321733
you are stuck for 30 years. cope seethe and dialate. debtslave

>>57321760
Oh no I’m stuck in a 3k square foot house in one of the nicest places literally on earth! What ever will I do??

>>57321733
wow, cool. what are you going to do with your paper gains? spend more money every year on homeowners insurance, property taxes, and maintenance/upkeep? or maybe you'll sell your house (less 5% realtor tip) and lateral into another house that appreciated by 67% over the last 8 years?

>>57321778
you will wake up at 6 am every day and drive your cuckbox to your job, wageslave for 30 years to pay of the mortgage.

>>57321729
northeastern pennsylvania

>>57321797
there's actually no real value gained there. the dollar just became less valuable. he's stuck with an illiquid overpriced asset. that's all that happened.

>>57321815
agreed. it's obvious we're talking about a mentally retarded poorfag who has >90% of his net worth tied up in his still-mortgaged home. also a major poorfa tell to brag about interest rates on debt (????).

>>57321536
Commie blocks aren't houses. A partition of a building isn't a house.

>>57321749
Uhu, so you think buying a cuckshed will outperform those assets?

>>57320914
>houses in my flyover hometown are $150k. i have $70k saved up. i save about $30k a year with my wfh job. my plan is to buy a house 100% in cash
Consider looking for a really shitty, dilapidated house that you can buy with cash right now.
Then you live rent-free immediately, and can renovate while living in it, and build extra equity by improving its value with your own hands.

>>57321838
yep massive poorfag and bottom dweller pleb. many such cases. kek

>>57320914
a flyover house just flew over my house!

>>57321803
I work from home lmao nice try coping next try dilating your crotch wound hahahahahahahaha

>>57321914
i haven't worked for 3 years and was out of the country for 2 years of that haahahah seethe and cope WFH cagie. stuck in your cagie paying off the mortgage LMAO

COPE SEETHE MALD.

>>57321815
>>57321838
>>57321895
Seething rentoids

>>57321932
seething no coiner or low coiner. there's no point to get a house if you have a huge bitcoin stack. renting is better. more freedom. enjoy being stuck in the same place for 30 years while you pay of the mortgage, cagie.

>>57321892
ideally i would buy something a little rough around the edges and fix it up, but i definitely don't want to do a major rehab project.

>>57321924
>out of the country for 2 years
>haven’t worked in 3 years
>his delusional mind is proud of this
Oh my god it’s a coping sex tourist lmao it just keeps getting more and more pathetic.

>>57321947
>more freedom
Lmao more coping you mean. You’re literally a cuckold of real estate paying for another man’s mortgage

>>57321979
>You’re literally a cuckold of real estate paying for another man’s mortgage
and you are stuck in the same place for 30 years. only poorfags think renting is bad. I rent all over the world where i want when i want. faggot.

>>57321958
>>57321979
you come across as an insecure faggot and a massive retard. i don't even have to guess your phenotype. (hint: it's not good.)

>>57321998
Imagine believing for one second that I give a shit

>>57321996
>imagine paying another man's mortgage with rent.
can't make this stuff up. Kek

>>57321838
I'm not knocking your decision to buy with cash because mortgage rates are horrible right now and I'm looking to do the same thing with my next home. But having a low interest rate does in fact make mortgages a smart idea. For example, right now you could put $30k down on that $150k house and spend the other $120k on BTC. You could sell the BTC when it hits $90k, pay off your house, and have $120k to spare, all for less than 2 years of interest payments on your mortgage. And BTC is just an example. If you can invest for better returns than your mortgage rate, you should be getting a mortgage.

>>57321071
So you are paying another mans mortgage.

>>57320914
The whole point of real estate is to buy on leverage (get a mortgage), and you're going to give that up to buy in cash? Your cash should be going to investments where it will appreciate more. You get zero tax benefits if you buy in cash, while taking out a mortgage allows you to deduct all the interest you pay.

>>57320914
I’d rather live in an expensive li shut yuppie town than live with a bunch of fentanyl zombies and deadbeat trash.

>>57323064
mortgage tax deduction argument is retarded. $150k house with 20% down @ 7.5% for 30 years yields $182k interest payments (on top of $120k principal payments.) due to the way amortization works you will pay the most interest in year #1, which is only $8.9k. it's a deduction, not a tax credit. so you basically pay a jew bank $9k in interest in the tax year to save a whopping $1-2k on taxes.

the investment argument is also retarded. long run average the S&P 500 returns ~7% inflation adjusted. i'd rather have the security of being debt free as mr. shekelberg doesn't care if you made 29 years of on-time payments.

>>57321038
so you are ok with paying more in interest than the value of the home?

>>57323160
>the investment argument is also retarded
especially now bitcoin is a thing.

>>57322291
The rates aren't even bad right now after you factor in tax deductions

Median home value is roughly 400k. 320k mortgage with 20% down. Assume property tax is 0.8% ($3200/year)

Standard deduction is 14k. Anyone with a mortgage at or under 3.375% is getting zero tax savings.

People with a 6.5% mortgage will pay 21k in interest paid the first year, which is 7k over the standard deduction. They also get to deduct property taxes. This gives them ~$2200 worth of deductions, so the net rate they're paying is actually 5.875%.

If you rent it out, you get the depreciation deduction as well (3.6% of property's value), which would knock off another ~2500 in tax deductions, making the net rate for landlords only 5%.

>>57323160
>I'd rather pay $1 to save $0.50

We know. That's why you're here.

>>57322291
>You could sell the BTC when it hits $90k
No normie is ever gonna learn to self custody now that ETF's are a thing. Wall Street's first attack was unleashing the CME futures market in 2017. ETF's will likely be the killing blow for king shitcoin.

>>57323204
>deduct a small percentage of tax off of a huge interest payment vs. buy cash and pay no interest at all

hmmm

>>57323242
i'll be saving and investing ~$60k a year with a paid off house and minimal ancillary costs ($600/month budget for utilities, taxes, and upkeep.) i'll make up the $150k purchase price in a couple years.

This is also the mindset I am going with and I am close to you as well in progress and goals with 70k saved with the expectation I will buy a house for low 100k in a similar area.
It sucks because you sacrifice a lot of your life by saving hard but I look at it like it is a small sacrifice of a handful of years to pretty much eliminate the cost of housing, which is something most people pay almost double for 30 years. I plan to spend more frivolously on life and travel once I can reach this goal and eliminate the housing cost.

On the flip side listen to Bill Perkins who wrote Die with Zero. This helps you realize there is more to life than just saving money.

>>57320961
Yeah I agree, the house could go up (and likely will) 100k while anon waits 10 years to buy. Also, you want to have some money on the side saved for when the hvac/water heater/whatever shits the bed.

>>57320991
Chimneys are brick, the siding is not. We don’t build true stone houses in the US.

>>57321979
you are a cuckold stuck in the same jurisdiction forever paying taxes for the same government forever while renting allows you to pay taxes anywhere you want and move when needed

oh wait the IRS owns you anywhere you go thats why burgers cope with being landcucks

>>57323260
Irrelevant. My point is as I said
>If you can invest for better returns than your mortgage rate, you should be getting a mortgage.

>>57323160
>the investment argument is also retarded. long run average the S&P 500 returns ~7% inflation adjusted
Did you intentionally not reply to me? This doesn't refute my statement above. But I'd like to add, even if you bought at the 2007 housing bubble top, and held until now, after years of stagnation, you'd be at 7.3% returns, and that's with ignoring the dividends. Dividends push that to 8.5-9%. All of that is still above the highest mortgage rates we've seen at all in that time, and more than triple the lowest mortgage rates we've seen. If you didn't buy the 07 top the returns would be much, much higher. Don't just exaggerate a strawman because your opinion is threatened.

>>57321286
A cardboard box in McLean would half a million. It's a glowie suburb.

OP i got rejected for my mortgage so I bought a used trailer outright. (But it's not in a trailer park, I have my own land like any other homeowner.) I got a place now but it's fucking cold damn.

>>57324144
yeah trailers suck ass for cold. my sister lived in one for a few years and would spend $700 a month to heat it in the winter, and this was before scamdemic inflation.

>itt: its literally over if you buy a house
>also itt: its literally over if you dont buy a house
OP i hope you achieve your goal. i have a friend who took a similar route, saving from the time he was in high school.

He now has a home and decent sized piece of land.

>>57324204
just use a blanket.
>> heating
are you a black man or what

>>57320960
>$8k/year property taxes
Sounds like an absolute steal
>t. chicago burbs

>>57320960
Northeastern pa is pretty good, just dont move to hazelton, reading, and some parts of Wilkesbarre(the parts where the NIGGERS live) and its a great place to be.

>>57324648
The thing that does suck about 570 is that all the women here are fucking ugly, literally all look like a sack of potatoes.

>>57323160
I took out a comfy loan from my father and will be paying him a comfy 4.5% interest so my family and I can live in a comfy big house with other comfy rich people
My usury goy payment goes right back to my family and he will invest it in simple, low risk, interest bearing accounts and other investment instruments

>>57320914
senpai you are paying 150k USD for a shack on worthless land
this is not a flex

>>57321808

Why not move to Ohio?

>>57320981
It's brick facade you stupid fucking idiot.
The framing and inside is all wood and dry wall.

What kind of Jewish divide and conquer scheme is behind these retarded real estate threads? It can't simply be bots and/or retards arguing past each other every day. If you are too fucking stupid to see the validity of an argument to rent (e.g. a no homoor in the midst of a crypto bull run) or an argument to buy (e.g. taking huge crypto profits during a bull run to buy a house) then you quite simply will never make it. Both sides cope, seethe, dilate, and gfy.

>>57320914
Get some FUN with those 30k instead, and before the burn happens, and you’ll see how truly easy it can be to buy that house

>>57325054
>It's brick facade you stupid fucking idiot.
no its just america, where everything is fake.

>>57323275
You're taking cash out a liquid asset (stocks/crypto) where it's earning 10%/year to dump it into an illiquid asset to save 5%/year.

320k invested in SPX earns 32k/year in interest.

320k mortgage at 5% costs 16k/year in interest.

You're throwing way 1300/mo for "peace of mind"

>>57323803
>If you can invest for better returns than your mortgage rate, you should be getting a mortgage.

Holy shit someone in this thread who isn't a complete idiot

>>57324204
>>57324507
My trailer is a double wide, and it's an arctic zone here. Could cost me $3,000 per month heating in winter, but if the gas company rapes me like that I can put in wood stoves before next winter. But this winter they own me.

>>57326123
How is that not a form of gambling?
Betting on a house's value to permanently increase sounds worse than betting on bitcoin

>>57325896
It's not D&C anon, it's simply to demoralize Americans and make them feel like they'll never be able to own a home or be successful. It's bullshit. These same threads or posts pop up on biz and pol daily for at least the past 2 years.

>>57326633
Potential home equity isn't even taken into consideration

If you earn 10% with your cash through investments, while a potential mortgage rate is 6.5%, you take out the mortgage every time. You make minimum payments on the mortgage each month.

It's comical how many people don't understand this.

>>57320914
youll still have downside risk if shit hits the fan but if you never plan to sell it doesn't really matter. way better than paying 3x the house price over 30 yrs

>>57325906
>FUN
Isn't this 2017 dead shitcoin?
Why I should buy that?

The beauty of being a single, childless incel is that you can buy a $150k house with cash, resulting in your largest monthly expense of rent/mortgage being gone. This means you can subsist on doing gig work like delivering doordash 20 hours a weel, to pay for food, car insurance, property taxes, etc. It's a very comfy life that I aspire to someday. I only have about 80k cash saved up right now though.