/biz/ - Business & Finance

>>7686125
once its not on mortgage

>>7686125
it's worth it when rates are low

>>7686192
I locked in at 4.1% did i fuck up?

>>7686273
fixed rate i assume? 30 year? you're fine. interest rates are already bubbling up. if they go much higher your debt is essentially inflated away, which is nice.

>>7686125
you gotta live somwhere right ?

>>7686273
You fucked up. For a 30 year mortgage, you're paying for the house twice.

>>7686543
I don't really plan on living there for over 10 years desu

>>7686125
Here's a (you) for Tonberry King Pepe.

Have fun paying 10x what a house actually costs you fucking scum and especially if you're taking out a loan for it you government programmed sheep house slave

>>7686125
I bought a house when I was 19, if I could do it again I would have just rented a house instead.

>>7686608
I put 20% down faggot. Also what is your plan pay some other faggot to live in his house?

>>7686125
If you asked a bunch of Jews whether they rented or owned, what do you think most of them would say? They own. What they won't tell you is that their uncle loaned them the money at 0% interest. Buy the house and pay it off as quick as you can to avoid the interest Jew as much as possible.

>>7686608
a 4.1% rate will amortize to less than the house's worth. He won't even pay for it twice.

>>7686125

Rent until the housing bubble bursts, don't be so dumb of buying a house just before the interest rates are raised.

>>7686125
>owning

>>7686667
I've been in construction for 6 years. We sell pajeets houses for hundreds of thousands of dollars more than they are worth. The housing market monopoly is insane. Nobody needs to pay that much for a place to live. It should seriously be illegal

>>7686779
Cool larp, bro. Stay salty that 0% of your rent goes towards building your own equity. You may as well just set a thousand dollars on fire every month and piss on the ashes.

>>7686779
it's a bubble

>>7686831
>You may as well just set a thousand dollars on fire every month and piss on the ashes.

Can you live comfortably in a pile of pissed on ashes?

Then I guess you may not as well do that.

>>7686833
like this?

>>7686900
I will tattoo this meme chart on my back, I swear.

>>7686831
>building your own equity
>paying rent

Yea keep getting scammed my friend I'll keep my money and not pretend paying banks is somehow profitable

I'll try to explain you how things work

>the fed lowers the interest rates
>everyone and their mother take those cheap loans
>there's a lot of money around so people outbid each other to buy houses
>this outbidding makes prices go higher and create a bubble
>then the fed raises the rates
>now it is more expensive to borrow money so there is less money around
>because there is less money outbidding each other prices fall

This is amplified by the fact that banks know that prices will fall so they accept collateral less making it even harder to borrow and reducing money supply even further.

In summary if you buy a house today you're retarded.

>>7686192
No it's not, because when interest rates rise, which they will, you'll be under water. Now is the worst time to buy.

>>7686454
Are you retarded? If he buys a house and has say a $300k mortgage, and rates spike, the housing market drops and his house is worth less than he paid. Don't listen to any of these faggots OP. Do not buy a house right now.

>>7686755
Listen to this guy.

>>7687150
>or communist chinks print money out of thin air
>distribute money to commie insiders meant for state projects
>insider buys CC
>insider buys visas due to meeting foreign investor criteria
>family moves to US and sells BTC
>family uses laundered proceeds to buy American houses
>nobody else can afford top live here anymore because chinks

>>7686125
Yes goy of course it is worth it.
Go out and take a huge (((mortgage))) or "death pledge" which is the meaning of the word.
No scam at all

>>7686125
How about you wait until after the imminent crash you brainlet.

Yes it's worth it you retard.
You should be asking: "Is it worth it to rent?" The answer to that is: Fuck no.

Enjoy the crib.

I rented for a long time and finally bought. Totally worth it. No shared walls. Master of own domain, etc. Plus you can sell it back. My mortgage is less than $900 a month in a great area where you can't even rent anything for under $1200. Plus, when I move I can sell it and make a little something back, whereas when you rent, you can't.

Look at it like this...if you could lock in your rent right now, would you? Of course, because 10 years from now rents will have risen...20 years from now it'll be even higher, while you'll still be locked in

>>7686125

desu I'd wait for a better entry. You're buying green candles going into the housing market right now

>>7687641
>>7687599

A fixed rate literally prevents that, you retard. Everyone underwater fell victim to adjustable-rate mortgage bullshit

https://www.washingtonpost.com/realestate/5-contributing-factors-in-housing-market-crash/2013/08/29/8532ddb6-0f60-11e3-85b6-d27422650fd5_story.html?utm_term=.7f88d1cfe95f

>>7686969
Too stupid to know how greentext works? No wonder you suck the rent dick so willingly. The worst part of a mortgage is the interest, which is STILL better than paying rent because at least interest is tax deductible. Rent is a big fat pozzed dick in your ass every month.

>>7688053
were people really this dumb anon?

>>7688112
People buy in to what they want to believe. They like to think things will be better in 5 years, so much that they're willing to gamble their credit on it.

>>7688112

The housing bubble was because too many poor people could get a house WITHOUT a significant down payment plus the combination of adjustable rate mortgages. Either one of these by itself would be too slightly bad but the combo was super bad

Basically, low income buys a house and then after a year or two their interest rate goes up a few points so the monthly payment then goes up several hundred...they can't pay it. Late fees accrue, etc. Fixed rate is the only way to go

>>7688098
lol enjoy the hamsterwheel of eternal debt my friend. renting has less liabilities compared to mortgages and offers real benefits if you don't plan on staying in one place for the rest of your life. additionally rich people always buy with cash, they don't ever get into personal debt like poor people always do. but you wouldn't understand that because you're a fucking pajeet who fell for the "rent is burning money durrhurr" and "i'm building equity by getting into massive debt" memes.

>>7686125
absolutely not. dont buy a house.
live on a yacht.
this way you can move around country to country no problems.
also, women absolutely love boats
additionally, its a better investment
get something in the 70' range and youre all set

>>7687641
.....Fixed rate anon. He got a fixed rate. Since inflation and floating rates are heading up, he'll be outperforming the market. So long as he isn't a total brainlet and flips it before the fixed term expires he'll be fine.

>>7688300
>dont buy a house
>live on a yacht
>it's a better investment

Oh boy.