>The 22 yo zoomer who doesn't understand that mortgage is a 10x leverage for the common man

[Anonymous No.12570771]

[Anonymous No.12571718]

[Anonymous No.12571728]

>>12570771
No, I'm sure everyone knows that. It is just that in the current economic environment most people take out mortgages when in crisis, not when they are looking to go all in and make millions in the stock market or some delusional shit.

[Anonymous No.12571733]

>>12571728
so why are there brainlets here talking about "saving 200k to not have a mortgage" then?

[Anonymous No.12571749]

You don't get and liquid funds without going through some Jew loop though

[Anonymous No.12571760]

>>12571733
Not everyone needs 10x because most people are not looking to do anything even remotely interesting with their money. To most people, their entire financial history looks like this:
Money in from salary -> Money out for whatever

Literally nothing else. For those people saving 200k is just preparing to live comfortably and without fear.

[Anonymous No.12571761]

>>12570771
>taking out a loan that will take your entire life to payback
>but don't worry, the collateral if you miss a payment is just literally the only thing keeping you from being homeless

based boomers

[Anonymous No.12571774]

>>12571761

Then you go pick up a cheap place to rent, whup tee doo

I'm not scared at all about my house. I didn't front the $175k to buy it, and if shit hits the fan I can bolt and leave the bank with the bill. Conversely, if things go well I have a fat asset to sell in 20 years.

[Anonymous No.12571789]

>>12571760
but my point was take LTV mortgage 80-90%, get salary increase that lock in the inflation rate increase while mortgage per hour worked decreases, spend the surplus in index funds

[Anonymous No.12571821]

>>12571789
You are not taking into account the risk involved in doing that. Most people wouldn't dare to do this.

[Anonymous No.12571823]

>>12571749
exactly, it's literally impossible to turn a mortgage into liquid leverage. It's interesting if you want to be a landlord or deal in real estate, otherwise no.

[Anonymous No.12571844]

>>12571823
it's not? Just refinance your house?

[Anonymous No.12571855]

Zoomer here. Hate the concept of a mortgage. What do. I have 200 ETH. Any advice?

[Anonymous No.12571857]

>>12571774
Yeah but basically before that you'd have been paying way higher 'rent' (ie mortgage repayment) than if you had rented a normal house. You lose out on a lot of money.

[Anonymous No.12571875]

>>12571774
Yeah there's this little thing called a deficiency judgment, where after the bank forecloses on your shack and sells it in Good Faith for $100 at the foreclosure sale, then you still owe them $400,000 or however much they're fucking you for as deficiency.

Then you're left paying rent, and you're still paying the bank back for the house they took from you and sold.

[Anonymous No.12571892]

>>12570771
>tfw liquidation mail comes in because of a bart

[Anonymous No.12571900]

>>12571857

No way. Mortgages are almost always cheaper than renting a place, people aren't in the renting business for charity. Also in the housing market you yourself have the power to search for and negotiate good deals which puts you ahead. And then you have equity built up with your payments.

>>12571875

Meh, then you refuse. Fuck them. You're overstating the potential of that, people with a free and clean foreclosure are a dime a dozen. It's a serious headache to take a broke ass to court and try to squeeze them.

[Anonymous No.12571906]

>>12571844
ie real estate speculation, as I said

[Anonymous No.12571926]

>>12571900
I've literally compared my rent with the mortgage on much 'cheaper' living places, and rent turns out to be lower.

[Anonymous No.12572186]

>>12571906
you can call it whatever, it doesn't mean it's wrong

[Anonymous No.12572210]

>>12571760
What would you consider an interesting use of money?

[Anonymous No.12572321]

>>12572210
Pic related is a simplified vision. 99% of the wageslaves in america are left, but should strive to be right and from then keep building. Capitalism is a game in which the goal is to maximize the arrows that go to you while minimizing the arrows that go from you.

[Anonymous No.12572336]

>>12570771
Nice ID fren

[Anonymous No.12572383]

>>12572321
Crypto is too volatile to be safe right now, and I have no idea where to start with stocks & bonds. I’m 19 working a minimum wage part time job, what should I do to build wealth for the future?

[Anonymous No.12572422]

>>12572383
>Crypto is too volatile to be safe right now

My sweet summer child.

[Anonymous No.12572429]

>>12572383
>I’m 19 working a minimum wage part time job, what should I do to build wealth for the future?

Increase your earning potential. Nothing else matters in your situation.

[Anonymous No.12572439]

>>12572383
Short version: No one can tell you what is right for you. Literally pick up a book to learn which investment opportunities exist and decide which one is the best for you

Shorter version: HODL S&P500 ETFs.

[Anonymous No.12572443]

>>12572429
I could work full time during the summer but I have school 5 days a week

[Anonymous No.12572462]

>>12572321

[Anonymous No.12572473]

>>12572383
Index funds. 25% dow 25% msci eafe 25% russell 2000 and 25% bond index.

Literally the only way you lose is if the entire global economy crashes, in which case just hedge with a bottle of sleeping pills.

[Anonymous No.12572489]

>>12572462
Well, Germany tried that and got fucked. The reality is that I'm not anti-semitic, I just accept the reality that, at least where I live, everything is owned by this job. I don't consider this to be bad or good, just the literal fact of life. And if you want to win a game, you have to follow the rules.

You help jew, jew help you.

[Anonymous No.12572515]

>>12572383
This is too volatile for you? wew

[Anonymous No.12572547]

>>12572515
I have only $3k in my savings account and I don’t want end up pink wojack posting. I have to use the money to buy a shitty car instead of riding the bus like a pleb, and any loss would ruin me right now.

[Anonymous No.12572577]

>>12572547
>I have to use the money to buy a shitty car
Literally why? Cars literally only lose value and also are a huge burden. Buying a car is basically buying BTC at 20k.

At your age and income level buying a car should be the last thing in your checklist.

[Anonymous No.12572607]

>>12572547
>have to
Have to or want to? Don't buy a car if your primary motivation is perceived social standing.
Before you start investing, you should probably consider making sure you have enough emergency funds readily available. Once you've done that, establish and stick to a budget.

[Anonymous No.12572608]

>>12572577
He didn't say new car. If it's a used car it's okay. You gotta get to work somehow if public transportation is shit.

[Anonymous No.12572612]

>>12571789
jobs are not secure anymore boomer

everyone is at risk of being laid off at all times now. the only good goys willing to take 90%ltvs are nuCouples where ALL the risk is dumped on the man, she can leave anytime, take the house and dump the debt on the next sucker

Thats the reality of the world we now live in.

[Anonymous No.12572635]

>>12572608
Old cars are still losing value and will take money in insurance, fuel and other costs.

He already has a valid route to his job and back to work I assume, so really he should only consider getting a car if it would somehow increase his productivity and earning potential. At the level he is at, I doubt it.

[Anonymous No.12572656]

>>12572635
Depends on location and type of car really

In a rural area you NEED transport, anything cheap and reliable will do. Public transport is extortionate for longer commutes. Classic cars often cost shit tons in repairs but are exempt from many regulations and taxes.

[Anonymous No.12572672]

>>12572635
Going anywhere from the suburbs through public transportation is a hassle. It takes me a 2 busses and 1.5 hours to go to school when I could drive there in 20 minutes. Public transportation is so depressing honestly.

[Anonymous No.12572687]

>>12571760
This is me; All I'm doing via my investments, 401k,savings, pension, etc is just trying to build a nice nest egg so when I retire I don't gotta worry about shit or god forbid, return to work. So far I'm on decent track for that. No debt other than house. Both my car and my wife's car is paid off. a decent pile in the bank and my 401k is doing rather good atm. I got the house during the last housing shit fest so I got a deal on it. I save each month as much as possible.

[Anonymous No.12572883]

>>12572687
>I got the house during the last housing shit fest so I got a deal on it.
Nice