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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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18305064 No.18305064 [Reply] [Original]

Any point in buying a house this year? Was thinking about buying a duplex and renting it out.

>> No.18306133

Why buing a house when you are gonna get dragged to a fema camp.

>> No.18306157

Imagine buying a house now when the median price will drop by 25% within 2 years

>> No.18306199

>>18305064
>i'm gonna buy a duplex on the dip

this is how you can tell we're still in bubble territory

>> No.18306293

>>18306157
>>18306199
So what's your advice?

>> No.18306457

>>18306293
Wait til after the price drop, duh.

>> No.18306501

>>18306157
Will it though? What about all the hyperinflation that is coming? Won't that stabilize the housing market and keep it from going down?

>> No.18306539

>>18306293
how fucking dumb are you

>> No.18306616

>>18305064
>landlording in jannie times
You're brave anon

>> No.18306665

>>18305064
>>18306157
>>18306199
>>18306457
>>18306501
>>18306539

really what is the ideal time to buy? I keep hearing anything from 6 months to 5 years. housing is relatiively cheap and stable where I live and I just want a house for myself.

>> No.18306754

>>18306157
Because if home values drops
25% then interest rates go up 3% - 4% and you end up paying more than you would have if you just bought now at 3.5%, and you have zero equity built up. Plus youre dealing with rent bullshit for additional years.

>> No.18306893

>>18306754
Not if I pay cash.

>> No.18306921

>>18306665
When there's blood in the streets

>> No.18307012

>>18306754
If the interest rate rises home prices get forced down. it's a non-starter. In real terms, real inflation is way higher than interest rates. In fact, interest rates are the reason it's so overvalued... the FED couldn't let prices fall after 2008. When boomers can't get a yield in bonds, they go to RE to play feudal lord. Every 95 iq retard is a RE speculator/ house flipper. Same as in 2007.

it might go up in nominal terms but in terms of purchasing power, homes will never be this expensive again in your lifetime. buy when median home prices are back to historical norms with median wages. and don't buy a duplex when dave ramsey types are telling you to buy a duplex

>> No.18307227
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18307227

>>18305064
Prices will probably drop more in 8-12 months

>> No.18307292

It depends.
If you only look at a house as a speculative investment then wait to buy.
If you look at a house as a stable place to live with a predictable monthly cost and you don’t mind losing speculative gains if it comes with the peace of mind that your monthly expenses are locked-in, then buy once you are at a spot you can afford to. That’s why I went under contract on a house and don’t regret it. If it falls from 400k to 350k right after I buy, I won’t give a shit because I will still have a stable place to live that isn’t subject to rent hikes and I try to minmax my investments elsewhere. That said most of /biz/ only look at houses as speculative investments, and if you are of that mindset then you should absolutely wait because prices definitely will drop by the end of the year.

>> No.18307349

>>18305064
You're on the right track. Interest rates are low, take advantage. Do you live near a city that's experiencing good growth? Take advantage. If yes to that and you live in the south then take double advantage.

You will never time the market perfectly. If you plan on living there for 5 years or more than buy it and stop burning money on rent. You can always refinance if mortgage rates ever go lower (doubt).

t. Commercial bank analyst in Florida who bought a house last year at 25.

>> No.18307471
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18307471

>>18307349
> If yes to that and you live in the south then take double advantage.

This. I've been dropping breadcrumbs about real estate in the south. If you know you know

>> No.18307475

>>18305064
Do it after the market crashes

>> No.18307504

>>18306501
hyperinflation is not coming. that will only happen after the domestic and international dollar are split. real estate demand will fall, especially in areas with high immigrant populations, leading to a price drop. additionally there will be extra supply as some owners seek to free up cash after the unexpectedly poor revenues this year.

>> No.18307552

>>18307227
>four properties
>$6k total monthly mortgage
where are these shitholes?