/biz/ - Business & Finance

[Anonymous No.18780151]

HOW THE FUCK DOES ANYONE AFFORD ONE?!

[Anonymous No.18780203]

mortgages

[Anonymous No.18780206]

>>18780151
Irresponsible mortgages

[Anonymous No.18780212]

>>18780151
you put money down, and then you pay for it until forever, like the rest of the 99%

[Anonymous No.18780287]

Wage slaving and watching 75% of your paycheck go down the shitter for 30 years

[Anonymous No.18780332]

>>18780151
You don't have to afford it. That's what debt is for. You put 5% down, then play the minimum monthly rent. When you a tired of the place, you sell it for default.

[Anonymous No.18780372]

>>18780203
>mortgages
americans everyone

[Anonymous No.18780429]

>>18780332
I don't want to be a slave to unreasonable Jewish debt forever.

[Anonymous No.18780454]

>>18780151
if you must know:
-go to a cheap but not crime invested rural military town
-buy one of the houses they rent out to grunts because they get a fixed amount for housing so all the houses are similar price
-get fha loan and put 5% down
this should cost about 10k when you add in closing costs
your morgage should be less than 750 a month
if you cant afford this then there is no helping you

[Anonymous No.18780478]

>a mortgage
>a wife, whether for the dual income or free maid service
>not living in a meme state
>a decent career
It's not that hard OP. A 30 year mortgage on a $300k home in the midwest and $80k household income(not unheard of at all) only costs ~50% of take home pay.

[Anonymous No.18780493]

>>18780151

take out a loan that you'll never be able to repay and pay interest to bankers forever while you toil away

[Anonymous No.18780501]

>>18780151
house prices are fucking absurd and should be like half of what they are now. they've fucking doubled or tripled in price the past 10 years while salaries have generally remained the same.

it's a racket. meant to get normies used to being in debt their entire lives and working forever.

[Anonymous No.18780536]

>>18780151
The /biz/ discord link is discord gg xe33qt
Join, we will interview John McAfee this week........

[Anonymous No.18780558]

>>18780151
With money

[Anonymous No.18780591]

>>18780493
>loans
americans everyone

[Anonymous No.18780607]

>>18780372
>>18780429
>>18780493
Imagine thinking debt is evil in /biz/ of all places. What do you think you people are investing in?

[Anonymous No.18780649]

>>18780591
>>18780493
>>18780429
So much anti-semitism.

[Anonymous No.18780653]

>>18780536
no you don't. stop spamming this shit.

[Anonymous No.18780659]

>>18780429
then rent a small apartment
it will never be more expensive than having to pay for an entire house

[Anonymous No.18780675]

UAVS

[Anonymous No.18780700]

>>18780151
By understanding how you get money back out of the equation at the end and using OPM, other people's money.

I saved up 10% down payment for a home over the last two years and I'm getting a place big enough that I can rent out a portion to a friend of mine for the first year or two. I used first time home buyer assistance in my state, I've got a loan rep assisting me and my buyer's agent to help me fine tune my finances (things like asking for a higher cap on my credit cards, even though I never use it), and I'm being strict with my budget for the next few months while I get the last few things in order.

Based on my projections, the extra money that my friend provides in rent will help dig into the principle. See, part of the problem is that for the first couple of years you're paying mostly interest and not touching the principle too much, but if you can make extra payments early to the principle then you can shrink the lifetime of the loan considerably. If my buddy sticks around for more than a year or two, or I rent to, say, some college kid, then I can probably pay it off in 7 years or so instead of 30. If I settle down with a girlfriend/wife and she contributes, same idea applies.

One thing people tend to forget is that your mortgage interest can be deducted at tax time, and since that makes up more than half your loan, you basically live half the year for free unless your mortgage is enormous enough that the write off exceeds the cap, which if I remember right is either $10k or $20k. If your mortgage payment is around $1000, like mine will be, your interest for the year will be something like $6k, which won't come close.

You also build equity rather than setting fire to a big pile of your money every money. It's a savings account that you get to live in, as long as you don't set fire to it or forget to do the basic upkeep. That doesn't help you get into a home, but it's nice to remember. I mean, we all want wealth, not waste, right?

[Anonymous No.18780702]

>>18780675
stop spamming your pump and dump scheme too.

[Anonymous No.18780725]

>>18780478
>50% of take home pay
That’s irresponsible and you would be the first to lose your house in a recession. You should never pay more than 25% of your take home pay on housing, and that’s the upper limit. If you want to be safe you should be way under even that.

[Anonymous No.18780740]

>>18780659
>meant
if you are talking monthly payments, buying is cheaper than renting the same house. this is how landlords make money

[Anonymous No.18780749]

>>18780151
Basically people get a long ass mortgage at a fixed rate and it's cheaper than getting an apartment. That's it.
Now because of this every once in a while a bunch of idiots lose their shirts because they took variable rate mortgages, or because prices dip so much that it actually becomes cheaper to start renting again then it is to keep paying mortgage, but it works pretty well for most folks especially with all the tax writeoffs.

[Anonymous No.18780795]

>>18780725
Most banks cap the mortgages they issue people at a 43% debt to income ratio.

[Anonymous No.18780798]

>>18780287
Goes down even after that due to property taxes

[Anonymous No.18780844]

>used 0 down VA loan
>get job working for US govt overseas, with housing provided
>have tenant move in
>he pays mortgage
>throw an extra couple hundred bucks at it every month
>not going to get rich but he is building equity in it for me
>when I do decide to move back in a few years the value will have gone up while not really costing me a thing.

[Anonymous No.18780854]

>>18780287
If paying for a good or service like a roof over your head that you can resell later on down the line is "going down the shitter" I dread to think what you consider a good investment.

[Anonymous No.18780882]

>>18780795
Why would you think that it’s in the best interest of the bank to have you spend your money responsibly?

[Anonymous No.18780909]

>>18780882
because they dont want you to default

[Anonymous No.18780999]

Rent literally goes up every year. In ten years renting a small 1 bedroom apartment will be more per month than my mortgage. And I can resell whenever I want. 2.99% interest zero down VA loan. No black neighbors. Why would you not buy a house right now

[Anonymous No.18781041]

You have money and you buy at the right time.
Or you let the bank buy it for you and then you sign a 30 year rent-to-own agreement with them that most people call a "mortgage".

[Anonymous No.18781046]

>>18780999
trips confirm

[Anonymous No.18781082]

>>18780909
Banks operate on the assumption of endless unlimited growth and that the economy will never slow down or enter a recession. You’re a retard if you think that’s sustainable or realistic.

[Anonymous No.18781088]

>>18780882
I don't, but if someone else is willing to give me a big bag of money and I can come up with a clever way to exploit that offer that's in our mutual best interest, why would I say no to that?

Loans are an opportunity. You can waste an opportunity, you can turn an opportunity into a hindrance or even a mistake, but you can also make use of it. Thousands of dollars in purchasing power, right at your fingertips, and all you have to do is work out how you're going to make it work out for you.

The banks want me to pay my interest so that they can make a profit on the loan. I think that's a reasonable thing for them to want out of the situation. I don't want to pay more in interest than I need to, but it's better than paying rent to cover someone else's mortgage and I get to write the interest off, and if I rent out part of the home to someone else then I get to pay even less interest.

>>18780909
That's what mortgage insurance is for, if you don't have enough equity in the property to show you've got skin in the game.

[Anonymous No.18781090]

houses are so inaccessible its literally reduced marriage and birth rates to near 0.

But hey, Airbnb stock must go up!

[Anonymous No.18781137]

>>18781088
>mortgage insurance
im guessing this is an american thing

[Anonymous No.18781158]

>>18780740
Yes, you are correct, but the person you are replying to meant that a small apartment(1bd) will ALWAYS be cheaper than a house because 1bd houses just don't exist. Living in a place with more than 1 bedroom is a huge waste of money if you're childless. I sold my 3bd and started living in a 1bd while investing the money I saved and it's been a very good decision financially.

[Anonymous No.18781187]

>>18781137
Yep. Basically if you can't afford the down payment by a wide margin then the bank makes you buy insurance against a default on the loan, and when you have 10% equity in the property the insurance cost is roughly halved, and at 20% you don't need to pay it anymore because you're pretty bought into the property at that point and the bank can make their money back off the sale if you default.

[Anonymous No.18781244]

>>18781137
We can't expect black people to be able to put 20% down, so we need to offer them 3% down mortgages. Turns out giving a black person a 3% down mortgage causes financial crises, so now we need to force them to insure their mortgage. That's American logic for you.

[Anonymous No.18781248]

>>18780649

[Anonymous No.18781253]

Pro tip:

Buy the shittiest home in the best neighborhood. Put sweat equity into it for 2 years and then sell.

This has been my best financial moves and why I im in the top 3% in net worth by my age group.

[Anonymous No.18781259]

>>18780151
This stupid boomer at my job was telling me how he bought a house at 18 in the 70s. I told him that’s because he was in the most prosperous times in America. He then went on and tried telling me it can be done today with some cliche platitudes like “put your mind to it”. Boomers are so out of touch they’re borderline retarded. I can’t fucking stand their way of thinking

[Anonymous No.18781281]

>>18781259
Preaching to the choir, my nigga.

[Anonymous No.18781353]

>>18781244
Well, you're not wrong.

[Anonymous No.18781389]

>>18780151
be a non-millennial

[Anonymous No.18781414]

>>18781253
This works if you live in a booming market. Especially California. You can 4x any renovations easily. Waste of time and money if your market is only appreciating ~2%-3% though.

[Anonymous No.18781440]

House Hacking

[Anonymous No.18781480]

>>18781259
yeah, putting in a hard days work actually got them somewhere
>2 years at the factory? here's a living wage, healthcare, and pension

in todays world its like
>2 years at the factory? here's a 50 cent raise, health insurance with a 3k deductible, and instead of a pension or 401k we're going to automate your job away in 5 years time

it ultimately boils down to this: Work hard, consistently, and at peak performance no longer guarantees independence. Boomers don't understand this as they never had to deal with it

[Anonymous No.18781498]

>>18781158
Around me a room is 600 minimum. A studio is at least 1000. I could get a 200+k mortgage for the price of a basement apartment.

[Anonymous No.18781525]

>>18780151
>mfw I own an apartment that I rent out for 200% of the monthly costs
>mfw fixed 1,8% mortgage

You just need to get on the property ladder

[Anonymous No.18781605]

>>18781158
This
the only better decision is to move back in with your parents forever

[Anonymous No.18781608]

>>18781498
I feel that. I'm from Connecticut. You have limited option if you want to move out. It's basically $800 shit-tier, ghetto apartments, where you can't walk outside, ever or $1200 studios in the suburbs, or $1k one-room rents.

Utilities are almost never included. You literally need to make $20 an hour if you want to rent on your own.

[Anonymous No.18781806]

>>18780206
>2.75% interest
>irresponsible
Pick one rent fag.

[Anonymous No.18781863]

>>18780151
They don't, they're on the hook for decades and decades of debt and don't usually get done paying for it until they're so old and near the end of their life, when it no longer matters. Few people actually own a house, they own debt to a bank.

[Anonymous No.18781883]

>>18780151
You wait for the housing market to crash in the coming year and then buy one

[Anonymous No.18781905]

>>18781498
A 200k home costs ~$912/mo. That's not your monthly mortgage payment; that's your COST and is directly comparable to your rent.
How?
>taxes
>maintenance
>insurance
>opportunity cost - your equity has better growth in stocks than in a house
>interest
So, if it costs $1,000 to rent a studio, it would cost just as much to buy a $220k home. Use this tool to calculate. Change "investment return rate" to 8% for best results:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
$1,000 for a studio in a market with $200k homes sounds off. Are you sure there's no 1bd apartments ~$700? Homes in my area are $300k and 1bd apartments are $650, so it makes sense to rent.

[Anonymous No.18781963]

[Anonymous No.18782087]

>>18780909
>because they dont want you to default
They figure they have less risk because they pile you in with other mortgages. So they consider it diversified risk to them, but that doesn't mean you aren't a retard to putting that much of your income into a mortgage.

[Anonymous No.18782099]

>>18780999

I've been paying the same rent for the past 6 years because I'm a good tenant and my landlord doesn't want me to leave

[Anonymous No.18782148]

>>18782099
This. My landlord actually offered to lower my rent this year because I pay early all the time when I manufactured spend to churn credit cards.

[Anonymous No.18782151]

>>18780429
>>18780372
>>18780493
>take out $400k from banks at 3.5% interest
>invest capital you would have paid for the house in cash in steady investments at 7%

It's like you retards don't understand the clearly defined rules set out for us

[Anonymous No.18783009]

>>18780700
I've been thinking this would be my move too if I got a place. I can make a 20% down payment, spend some money to make the basement a suite, and maybe rent out a bedroom too. That could damn well cover the whole mortgage. I'm just a bitch about going through with it because I always think there's things I'm not considering, and I'd be in way over my head.

I live on a family property rignt now virtually for free and get afraid of complicating things.

[Anonymous No.18783110]

>>18783009
There will always be things you're not considering and you'll be in over your head if you go into it without someone you can talk to now and again. But if it's a thing you want to do, and you can go into it with your eyes open, and it benefits you, then you need to work out what you're most afraid of and plan around it.

Look into the renting and leasing laws for your state and work out whether they favor the tenant or the property owner. Some states make kicking someone out a nightmare for owners, and some states make tenants fear for their livelihood because the owners can evict almost at will.

[Anonymous No.18783273]

>>18782151

>take out 400k from banks at 3.5% interest
>invest capital you would have paid for the house in cash in steady investments at 7%
>lose everything you invest by being an overconfident retard who thinks he can beat the system when the market collapses
>lose your house

[Anonymous No.18783385]

>>18783110
Well I'm in Canada, in a province experiencing a recession because of oil crash + covid. So I've been anticipating a drop in the real estate market here for a while. I might just try to get pre-approved for now and wait for an opportunity.

[Anonymous No.18783499]

>>18780151
PULL YOURSELF UP BY YOUR BOOSTRAPS KIDDO

[Anonymous No.18783526]

>>18783385
That's basically what I did. Is it the same way in Canada, where the buyer's agent gets paid by the seller for bringing a buyer so the buyer doesn't have to cover that cost?

[Anonymous No.18783592]

>was rentfag
>put 5% down on a condo
>base mortgage is half of what I was paying for rent with 200 square feet more space
>throwing extra cash into it
>later can sell for a down payment on a real house

[Anonymous No.18783608]

>>18780372
Yet Europoors have multigenerational 100yo loans and Australians have interest-only loans (you never pay back capital and build equity).

[Anonymous No.18783632]

>>18783592
>condos
>good investments

yeah ok m9

[Anonymous No.18783643]

>>18783608
That sounds terrifying.

[Anonymous No.18783652]

>>18780151
you sign away 50% of your earnings for the next 15 years and pray prices keep going up. ez

[Anonymous No.18783662]

>>18783592
Condos are fucking retarded, especially where I live. They can just build more of them, they are all the same.

When I used to rent I'd pick a building I liked and then send low-ball offers to everyone with a unit for rent. It didn't matter because they were all the same.

[Anonymous No.18783676]

>>18783608

How does this make any sense? The principal is the equity. Or is it higher, obligatory interest and then the option to pay into equity as you please? But then I'm guessing the bank still captures the appreciation on the home.

[Anonymous No.18783774]

>>18783632
>>18783662
Prices in my city for condos have been mooning for the past 20 years. Even if it didn’t increase a dime, I would rather build equity than toss money out the window with rent

[Anonymous No.18783822]

>>18783676
You only pay interest in perpetuity. The principal never go down. https://moneysmart.gov.au/home-loans/interest-only-home-loans

[Anonymous No.18783855]

>>18781498
Leave the coasts and Chicago/Minneapolis

[Anonymous No.18784645]

>>18783652
come on, on a long enough time line the prices are going to go up. even after the crash in '08' look at how fast prices recovered. the thing to take away from that is buy with in your means!

[Anonymous No.18784890]

>>18784645
Yeah in another 15 years literally no one will be able to afford anything even less than there are now.

[Anonymous No.18785044]

>>18780501
Depends on where you live. The south has absurdly cheap prices, just nobody wants to live in a humid swamp with minimal ocean access.

[Anonymous No.18785161]

>>18780700
>If I settle down with a girlfriend/wife and she contributes, same idea applies.
Terrible idea right here. If she ever gets tired of your ass, even if she only paid .01% of the total mortgage the divorce court is going to treat it as if she is entitled to 50%.

[Anonymous No.18785232]

>>18783822
What do you mean "in perpetuity?" You only pay interest for as long as it takes you to pay the principal. You dont pay interest forever

[Anonymous No.18785286]

>>18785161
The trick is to get your wife to pay equally.

[Anonymous No.18785313]

>>18780429
Based
Don't listen to these retards, housing market has been overpriced for fucking years due to regulations, lack of supply, Chimes intervention, etc. Don't bother with it until anyone can reasonably buy a home to live in, these days a home for a family in some places is like 300k or more and the average person makes say 40k bucks a year.

[Anonymous No.18785332]

>>18785313
*Chinese

[Anonymous No.18785380]

>>18780882
This guy gets it

>>18780909
The taxpayer will bail this guy out

They don’t think it be, but it do

[Anonymous No.18785386]

>>18780151
Just build your own and move rural. I know of a certain 20 acre lot in Texas, right next to a beautiful national park, going for only $8.5k

[Anonymous No.18785400]

>>18780607

Usury is evil. But it's the world we live in, for now.

[Anonymous No.18785418]

>>18781090
shut it down he nose

[Anonymous No.18785426]

Get even a halfway decent job and get over the hype of living in "diverse" urban centers.

[Anonymous No.18785453]

>>18781090
This
The amount of manipulation they do to the housing and stock market is ridiculous

[Anonymous No.18785476]

>>18785386
>>18785426
There's no jobs there, get the fuck out of here with that meme advice

[Anonymous No.18785481]

>>18780151
high iq+good job
t.corporate lawyer

[Anonymous No.18785525]

>>18785426

the only affordable houses are 1.5 hours away from the city, there are no jobs there

Im not going to drive 3 hours a day just to work for 8 hours at Shekelstein Corp, and have just enough time to go home cook dinner and cry myself to sleep

[Anonymous No.18785535]

>>18780607
This board is full of poor, idiotic, and resentful people. One second they bitch that inflation is higher than the CPI indicates (2.5% versus shadowstats liek ~10%) then they insist on not taking out a mortgage at 2-3%.
You can literally take on a mortgage at or less than the official rate of inflation (much less the shadowstats rate) yet they continue to prattle on about how the system is rigged against them.

Yeah there's shit wrong with the world but git gud faggots. Learn to game the system.

[Anonymous No.18785537]

Parental help?

First house was £220k, with £80k deposit... My mortgage is £500 a month

[Anonymous No.18785563]

>>18780454
Either listen to this guy or buy trailer RV and truck. Been in one 8 years, no complaints. $500 MO including food & utilities, ciggies are biggest extra expense but still cheaper and less painful than woman.

[Anonymous No.18785587]

>>18785537
How much did your parents help with?

[Anonymous No.18785591]

>>18780151
You cannot afford a good house because real estate is the repository for USD inflation. The CPI does not include rising costs of homes because if it did you would see just how fucked the USD really is.

[Anonymous No.18785635]

>>18785537
Why not just pay 1000-1200 a month and pay it off sooner? Are property taxes high where you live?

[Anonymous No.18785692]

>>18785481
>lawyer

The word your looking for is hoho

[Anonymous No.18785986]

no worries this bubble economy is going to crash big time and we will all afford houses in 1-2-3 years
fuck boomers
fuck banks

[Anonymous No.18786037]

>>18781090
This, I was considering moving back to my sleepy picturesque Applachian hometown, but Airbnb has absolutely ruined the real estate market there. What was an affordable 3 bedroom home in 2006 now goes for no less than $200,000.

[Anonymous No.18786117]

>>18780332
Who the fuck puts only 5% down. Do you guys like being poor? Are you black?

[Anonymous No.18786223]

>>18786037
200k USD is expensive?

What the fuck are you amerifats doing with your money?

>Europoor

[Anonymous No.18786276]

>>18781082
after 2008 banks are highly HIGHLY regulated. they are forced by the OCC/Feds to monitor the borrowers dti. also do you think its in the banks best interest to lend to a borrower with high dti or low dti? lmao you must be a kid.

[Anonymous No.18786402]

>>18786223
I think his point isn't that 200k is a ton, but it's way more than it used to be and more than you'd expect for a sleepy Appalachian area.

[Anonymous No.18786418]

600k is the minimum for a decent house here.

[Anonymous No.18786430]

>>18786418
*in my part of California

[Anonymous No.18786466]

>>18780151
wage slavery and debt salvery

[Anonymous No.18786469]

>>18786223
Our houses aren't made out of rocks

[Anonymous No.18786489]

>>18785286
Women belong in the home, not at Mr. Shekelstein's corporate office sucking dick for promotions.

[Anonymous No.18786506]

>>18781090
Non citizens shouldn't be able to buy property in any nation - only lease. Also, how do I buy something in Aruba?

[Anonymous No.18786602]

>>18780332
You have to put at least 20% down, otherwise you get raped by PMI.

[Anonymous No.18786794]

>>18781905
It’s not just about monthly cost though, it’s about building equity. You will never see a penny of rent money back.
Even in the absolute dire case scenario of seeing your house fall in value 25%, you’re still effectively getting back 75% of what you’ve spent on housing which is way better than 0.
That said, I’m waiting another year to buy. Mortgage rates probably will rise by then, however, home prices themselves should fall pretty dramatically. And difference in mortgage rate isn’t nearly as impactful as the cost of the house itself.

[Anonymous No.18786888]

>>18780372
Mortgage is French. It means until death.

[Anonymous No.18786910]

>>18786489
Based. But how else can you comfy afford a home

[Anonymous No.18787016]

>>18780429
Retard. Is the alternative better?
No.

[Anonymous No.18787036]

>>18780151
Now is the best time in a decade to get a house. Just do it retards. Even if it's small, you ladder up to better homes as you get older with equity gained. Jesus

[Anonymous No.18787067]

>>18785481
Fellow tranny lawyer here. Pays real good, but work is unrewarding and consumes all your time. Good thing I have shit load of link to get off the ride by eoy

[Anonymous No.18787087]

>>18786037
Asheville is dope

[Anonymous No.18787219]

>>18787067
Have a friend who’s a lawyer. He said you don’t make good money until 5-10 years in your career. How old are you 40?

[Anonymous No.18787256]

>>18787087

it was 5-10 years ago, kinda shitty and full of boomer retirees now. and no jobs

[Anonymous No.18787302]

>>18780151
JUST WAGESLAVE FOR 30 YEARS BRO

[Anonymous No.18787345]

>>18781608
Fuck, also CT anon here
What's the cheapest nearby state?

[Anonymous No.18787354]

>>18780151
A job you fucking loser

[Anonymous No.18788116]

>>18787302
>>18787354
Kek

[Anonymous No.18788173]

>>18785481
>>18787067
>hi iq + supermoney
space doctor here
can confirm

just bought 200k link, this is going to be so quick and easy

[Anonymous No.18788312]

>>18780151
I got my 1st house ($305,000) at age 24 making $15.50 an hour.
Y'all can't afford one because you're stupid and bad with money.
You eat out a lot
You buy alcohol a lot
You have a 1yr old $700 smartphone
You drive a new ish car that costs a ton in insurance and payments.
You have no passive Income

If you managed funds better, you could own a house, but you are too fucking stupid

[Anonymous No.18788395]

>>18781883
Amen to that! Although I hope it happens sooner rather than later because I really want a house and I live in a place where real estate is the most expensive compared to the rest of the country (Long Island).

[Anonymous No.18788440]

[Anonymous No.18788525]

just bought my first house
>cost 460k
>rental income a year 40k

Market price was really 520k but the owner was fearfull of what would happen to the economy due to covid.

im 26 and ive driven a fucking corolla while saving like a rat working two jobs, invested in link july 2018 and have NOT SOLD ONE TOKEN. i deserve this

[Anonymous No.18788550]

>>18788312
How long did you have your job for though? Seems like they wouldn't give you a loan unless you'd been there for like 5 years already

[Anonymous No.18788571]

>>18780798
>MUH PROPERTY TAXES
For fuck's sake I wish this meme would go away. Even in fucking "commiefornia" the property tax is less than 1%, set at 0.81%. Even if you had the ugliest $300k McMansion, that's $2430 per year. It's not tens of thousands of dollars.

[Anonymous No.18788606]

>>18781248

[Anonymous No.18788626]

>>18786602
>You just have to put 30k down
This is why people rent

[Anonymous No.18788769]

>>18781090
You fucking lie, the birth rate in 2019 was 12 babies per 1,000 people, so nearly 4 million (3.96) births in 2019. Stop lying to push a fake narrative that "birth rates are near zero!!! it's all manipulated!!!"

[Anonymous No.18788825]

>>18786223
a lot of Appalachia is low income, it's not that $200k is unaffordable, it's just inappropriate for the median income of the region

[Anonymous No.18788852]

>>18781248
Hahahaha you cannot seriously expect somebody to boycott all those companies

[Anonymous No.18788858]

>>18781353
>Only black people took out 3% mortgages!
Yeah right, for sure.
Oh wait, your average American looks like pic related and is just as retarded as your hypothetical <80IQ black person. Hmm, I wonder if we should blame just black people and no one else? Hmm, really makes you think
Fucking brainlet.

[Anonymous No.18788880]

>>18788858
meant for >>18781244

[Anonymous No.18788903]

>>18781963
why the fuck do people like this gif? it's so retarded

[Anonymous No.18788932]

>>18781608
Try growing up on the Cali coast... I can’t even afford to rent without having 4 roommates, even while working 50hrs a week

[Anonymous No.18788952]

>>18788769
He means white babies.

[Anonymous No.18788962]

>>18788550
I had that job for little over 2yrs.
That with a 785 credit score was enough.
Working a ton of OT to save up for a manageable down payment was the harder part.
My mortgage is actually cheaper than renting.
And I get taxed less

[Anonymous No.18788979]

>>18788952
Nowhere did he say that. You're just inserting words to fix a broken statement.

[Anonymous No.18789023]

>>18788769
>>18788952
>>18788979
BULLISH

[Anonymous No.18789026]

>>18782151
Are you smooth brained? If you can find a steady investment at 7% guaranteed you wouldn't be on biz lmao

[Anonymous No.18789082]

>>18789026
Lol what? The S&P 500 returns 7% each year guaranteed. This /biz/ 101
Oh wait, /biz/ shills shitcoins every minute and they don't care about real shit

[Anonymous No.18789162]

>>18780151
>MAGNETS
>WHY DO THEY COST SO MUCH

[Anonymous No.18789200]

>>18780151
why do you need to own a house goyim? why don't you just rent from uncle schlomo until you die with nothing to your name?

[Anonymous No.18789235]

>>18789023
I didn't say they weren't decreased, I said they weren't zero.

[Anonymous No.18789474]

>CTRL F
>Only one result for House Hacking
>And it's my own post

ngmi

[Anonymous No.18789512]

The better question is how can you afford not to have one.

[Anonymous No.18789566]

>>18789474
wtf is house hacking?

[Anonymous No.18789593]

>>18789474
All these people have talked about renting out a portion of their house while they live in out, you're not special
>>18780700
>>18781088
>>18783009

[Anonymous No.18789657]

>house hacking

[Anonymous No.18789666]

>>18787302
Kek.
>mfw

[Anonymous No.18789757]

Live in Alabama. I live on the gulf coast. It's hot as fuck and people think you're weird if you don't go to church, but at least I don't have to commute hours to work and pay 1 million for a tiny house.

[Anonymous No.18789967]

>>18789566
Buying a triplex, charging each tenant for half the mortgage and living for free

[Anonymous No.18789993]

>>18789657
Ngmi

[Anonymous No.18789994]

>>18783273
the most powerful entities in the world do everything they can to protect the S&P 500 or NASDAQ indexes. This was the worst crash in a decade and it's already recovering. Stick to your shitcoin threads, this is a thread about actual investing

[Anonymous No.18790448]

>>18784645
Not so fast friend. Are you certain that the coronavirus pandemic is comparable to the 2008 recession. Our entire economy has literally ground into a halt, economists are predictiong -40% GDP growth for the second quarter. On top of that, with 30 million people unemployed and the majority of Americans with less than $1000 in the bank, we are most certainly should expect a lot of mortgages to be defaulting in the coming months. I would hold off from buying until then.

[Anonymous No.18790579]

>>18787036
should'nt we wait 6 months first? Mortgages have to start going into default before the price of housing is effected much.

[Anonymous No.18790653]

>>18786117
Why would you out down more than 5% if you don't have to?

[Anonymous No.18790690]

>all the poor retards in this thread

The only reason to buy a house is to use a mortgage. Mortgages are literally the best form of leverage average jack offs can get.

[Anonymous No.18790723]

>>18780151
Double wide trailers in the middle of nowhere to for $100k. This shit is ridiculous.

[Anonymous No.18790754]

>>18788979
Everyone here knows when were talking about human beings we mean white people, you know, actual people.

[Anonymous No.18790810]

>>18780151
>Mortage an apartement building.
>Rent appartements
>Profit.
>Buy house with the profit.

[Anonymous No.18790811]

>>18790690

This is 4chan. Most people here can't balance a budget long enough to get out of their mom's basement but can write you pages on why their preferred speculative asset is going to make them mega wealthy. Expecting them to understand that they have a choice between paying rent and paying a mortgage is a surprisingly high bar.

[Anonymous No.18790866]

>>18781806
>jacked up inflated prices because of artificial low interest rates
>responsible

[Anonymous No.18790896]

>>18787345
North/south carolina have been on my radar forever. You can rent for $500 a month in the suburbs. Even in the cities $800 for a studio. Houses are cheap too. 80k can get you a small 3- bedroom house.

the only problem is the wages are really low too. I want to save like 125k up here, buy a 3-bedroom house for 80k-90k, rent out the other two bedrooms, and have like 1k in bills a month. Even a minimum wage job can pay the bills.

[Anonymous No.18790950]

>>18780151
they don't, they get a loan aka a mortage and pretend they own it. There's probably less than a couple million of Americans who actually own their house full and paid for with the land.

[Anonymous No.18790973]

>>18788571
From tax-rates.org
>The median property tax in Suffolk County, New York is $7,192 per year for a home worth the median value of $424,200. Suffolk County collects, on average, 1.7% of a property's assessed fair market value as property tax.
It is easily over 10k when you're not in Kansas

[Anonymous No.18791009]

>>18789757
What can I do for work down there? It's still goddamn winter here in NY, sick of this fucking place

[Anonymous No.18791103]

>>18790950
I'm guessing most boomers own their homes yea? And it's true. Average people bought their homes at high prices, maybe refinanced the house after a few years. And lots owe more than what it's worth. Literal slaves. I own 25 acres in the bush with a ghetto cabin running solar power. I don't have a single bill other than 150 bucks a year for property tax, and car insurance, and internet.

[Anonymous No.18791250]

>>18790896
NC real estate is going to do well in the long run, it's a net in migration state. The research triangle is bringing in a lot of tech people. Many are also moving to charlotte which is driving prices up in the surrounding burbs. I live in NYC but my parents bought a rental down there several years ago. 16% cagr and good rent inflation. Rent for a condo outside of the city is $800 in the area.

[Anonymous No.18791724]

>>18781905
your post-tax investment return rate will probably not be 8%, 6% is a more realistic number to use

[Anonymous No.18791972]

go on hrt as early as you can become a cute trap and setup an onlyfans account then get new simps through posting on social media, reddit and 4chan with watermark showing your unique username or url to the premium sign-up.

[Anonymous No.18792018]

2 incomes.

[Anonymous No.18792032]

>>18780151
Just wait a few months and you will be able to buy two.
Screencap this.

[Anonymous No.18792136]

>>18792018
Incels are priced out. Have sex or die in the streets.

[Anonymous No.18792270]

>>18780151
By being born between 1946 and 1964.

[Anonymous No.18792607]

>>18792032
But then I still have to have mexican neighbors.
Is buying anything even worth it?

[Anonymous No.18792632]

>>18780151
by not wasting your real money on memebuck moonshot scamcoins

[Anonymous No.18792709]

>>18788312
Based.

25 and 339k house here with a 3% interest rate. Dont @ me.

[Anonymous No.18792776]

>>18788312
I gross nearly 100k and still have trouble stomaching the thought of being locked into a mortgage on a fucking 300k thing. It just seems insane.
You could retire with that much money, but instead you just buy a house here?
Why not rent for 1k, save half your net, invest in other things that don't tie you don't to one shithole?

[Anonymous No.18792839]

>>18780151
>can't afford a small house made of wood
lmao so this is the power of the American

[Anonymous No.18792890]

>>18792839
>made of wood
>by mexicans
American products are great, commie. Don't forget it.

[Anonymous No.18792893]

>>18780854
Kike

[Anonymous No.18792905]

>>18782151
>guaranteed 7% returns
how retarded are you really?

[Anonymous No.18792946]

>>18780151
By being born before 1971

https://wtfhappenedin1971.com/

[Anonymous No.18793523]

>>18792946
Cool website!

[Anonymous No.18793598]

>>18788932
>Bay area
>$1000 a month to rent a room in some boomers house in the suburbs

[Anonymous No.18793600]

>>18780659
Even if you dont want to rent because you want ownership per se, renting has other restrictions. Things like neighbours in too close of a proximity, building restrictions, dependency on landlord. Its not nice to rent your entire life long..

[Anonymous No.18793987]

>>18793598
>and earn 200k as a developer

[Anonymous No.18794185]

>>18792946
WOW i've never seen such a succinct BTFO

[Anonymous No.18794307]

>>18780649
The difference between anti-Semitic and anti-satanic is simply semantics.

[Anonymous No.18794401]

>>18780206

Correct.

Probably 60% of home owners are living paycheck to paycheck.

I make $60k a year and cannot afford a home. Where I live a fucking crack house goes for $190k.

These current times are a fucking joke and we will either have a big financial revolution or totally collapse as a nation.

The current business model of America is completely unsustainable. I read a post on /biz/ once that I think is accurate. It said each president runs up the debt because they know total collapse is inevitable, so they just push all the problems forward so it becomes the next president's problem.

At some point we are either totally fucked or a massive change will set things right.

[Anonymous No.18794503]

Just move to Pittsburgh or something dude

[Anonymous No.18794504]

>>18780151
>>18780151
In capitalist america, debt is money.

[Anonymous No.18794528]

>>18781905
the treadmill though is it takes time for most people to save for a substantial down payment, even though monthly costs are better

[Anonymous No.18794535]

>>18780151
You never even own it. After wasting years and the majority of your paychecks to finally make it your own, you continue to waste equally insane amounts on it forever because of over-inflated and unjust property taxes, in which case they'll take away your home just like a landlord would.

[Anonymous No.18794542]

>>18782151
It's sad seeing these mongs replying to you, so dumb they don't even realize that if you get 3.6% return, which fucking anyone can do, you're still coming out on top. Plus inflation, assets/salary go up over time but your mortgage is a hard number.

[Anonymous No.18794552]

Housing prices are KEY to enslaving people and ensuring they have little freedom/social mobility. we will never see them become affordable in our lifetimes. The powers that be will not allow it to happen and will sacrifice many other things before they do it(including massive inflation)

[Anonymous No.18794566]

>>18793987
If you did that you'd just get an apartment for 2k.

[Anonymous No.18794602]

>>18794552
>massive inflation
Which were getting anyway

[Anonymous No.18794645]

>>18790896
>>18791250
We're full, thank you.

[Anonymous No.18795111]

>>18780454
Best real estate investment advice in the whole thread.

[Anonymous No.18795237]

>>18794401
>It said each president runs up the debt because they know total collapse is inevitable, so they just push all the problems forward so it becomes the next president's problem.
President doesn't do shit when it comes to the budget. That's literally all congress because congress is constitutionally responsible for the nation's purse strings. Any proposed budget put forward by the president is basically thrown into the trash and a new one is made with the interest of spending even more because that's what people understand when it comes to elections.

[Anonymous No.18795777]

>>18795237
This. Of the current 2 Trillion dollar stimulus package, 25 million is ear marked as "additional salary for members of the House of Representatives." That comes to ~57k per Representative.

[Anonymous No.18795797]

>tfw youre military and can apply for a 0% down VA home loan

[Anonymous No.18796124]

>>18788626
stay poor

[Anonymous No.18797089]

>>18791009
Well there's the same jobs every populated area needs - doctors, lawyers, plumbers, HVAC technicians, that kind of thing.
Specific to Alabama, there's a big NASA and defense contracting cluster around Huntsville, and there's a cluster of Japanese auto manufacturing industries around Birmingham.
The bigger question is really what are your skills. You can do pretty much anything anywhere in the US, you just won't get NYC pay for it.

[Anonymous No.18797126]

>>18780151
Lie, cheat and steal. That's apparently the only way. That's the real message they are sending out. Hard work no longer pays off and if you can't beat them you join them. I'm just sad no-one else realizes this and since we have been pacified so hard that the time of the rope will never come we have no alternative.

[Anonymous No.18797179]

>>18795797
It really does feel like cheating, and you're not even limited to 1. You can just keep buying investment property as long as you have a business case for it.

[Anonymous No.18797428]

>>18781963
OMG IS THAT CAT REAL!?!?!?!?!?!??!?!?!

[Anonymous No.18797437]

>>18788903
That's why. It gets responses. They crave attention because they are niggers and that is why they post it.

[Anonymous No.18798596]

>>18780854
a house is not an investment you dumb boomer kike faggot

[Anonymous No.18798675]

>>18780151
jews were not allowed to own real estate before the 19th century, enjoy the revenge goyim

[Anonymous No.18799582]

>>18798675
I'm sorry masters, please forgive me. My ancestors did not know the errors of their way.

[Anonymous No.18800178]

>>18786888
>The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
Holy shit
Even though I decided to google, I was still sure you were joking

[Anonymous No.18800210]

>>18780151
Bought a fixer upper in recession ive put a ton into it. Still not done. But it does the job and my mortgage for 2,100 sq/ft is still pretty low.

[Anonymous No.18800260]

>>18788571
You're a retard

[Anonymous No.18800325]

>>18780649
And that's a good thing.

[Anonymous No.18800767]

>>18788769
Birthrate per 1000 means nothing, especially for a young population like the US has. Birthrate per woman is the only stat that matters.

[Anonymous No.18801611]

>>18780203
subsitites

[Anonymous No.18801897]

>>18792946
The divorce one pisses at the bottom me off the most

For richer or poorer my fucking ASS what a load of SHIT

woops looks like i wont have the lifestyle i saw on the tv or my friends facebook off to divorce court we go weeeee!

[Anonymous No.18801949]

>>18797089
I'm a cop. While I'm confident I could pick up a job there as an officer or a deputy, the soviet socialist republic of ny is in some ways better for cops. A union means we can't be fired for no reason (police work is a never-ending stream of allegations and lawsuits) and I don't think Alabama cops have unions. But I doubt I'd be hated as much by everyday people there as I am in ny. And the weather... it's all I think about lately.

[Anonymous No.18801972]

>>18780203
Basically slavery to pic related

[Anonymous No.18802214]

>>18780372

>he's a poorfag

I'll let you pick my dog's turds up from my backyard for one LINK an hour

[Anonymous No.18802217]

>>18783499
Lucky boomers got to live in an economy that had yet to be fully raped to death by capitalist greed.

[Anonymous No.18802264]

>>18788173
How do I into space doctor mode? What school?

[Anonymous No.18802377]

>>18781248
Which companies should I buy from?

[Anonymous No.18802392]

>>18788173
doctor my space is sick, can u help pls?

[Anonymous No.18802446]

>>18780151
just be urself
make six figures

[Anonymous No.18802545]

>>18780999
maybe they aren't a veteran who brags about their government benefits

[Anonymous No.18802570]

>>18780649
>>18780493 didn't say anything antisemitic, what are you implying here? That bankers are all jewish? That sounds antisemitic to me!

[Anonymous No.18802607]

>>18790653
15 yr mortgage

[Anonymous No.18802631]

>>18802607
Try 30 in europe

[Anonymous No.18802684]

>>18780151
that's not a house, it's a render.

[Anonymous No.18802694]

>>18788312
one of my roommates is exactly like this. he bragged that he finally started participating in his 401k at work at the market bottom even though he's had 5% match for 2 years now. he blew half of his stimulus check on video games already. he bought a nintendo switch and a copy of animal crossing. I'm fairly certain he has less than 1 grand in savings at this point and has always lived hand to mouth. he had to give me rent late once this year already. he's like 38. he wants to trade in his iphone 8 for a new SE. people are so fucking disappointing

[Anonymous No.18802739]

>>18788571
tell me where i can buy an ugly mcmansion in california for 300k? That's not even a downpayment in los angeles, poortard.

[Anonymous No.18802802]

>>18801949
all cops are bastards. kill yourself fucking pig. funny that the uniform allowance is part of your compensation. that's retarded. try not to shoot any bystanders on your way to work dipshit

[Anonymous No.18802832]

>>18802802
reddit

[Anonymous No.18802989]

>>18802832
rent free, eh? I can think of no situation in life which would be improved by adding the police. if my daughter marries a cop I will disown her. pig piece of shit

[Anonymous No.18803208]

>>18802989
stay mad

[Anonymous No.18803211]

>>18802802
Feel free to move to a country with no cops. I will make it my duty to come there and bash your fucking head in.

[Anonymous No.18803421]

>>18803211
I don't even have to lock my door where I live, my neighbor has a gadsden flag hanging up. I can defend myself. try it. there's no time in which I'd want a cop to come to my house

[Anonymous No.18803664]

>>18803211
Dumb pigs
your the only thing keeping the fence up
fuck yourself

[Anonymous No.18803763]

>>18803421
Wow what a brave gunfag virgin hiding in his house. Would you be giving your 6 year old daughter a gun to school as well? Or would you be counting on the presence of a nearby cop for her safety? Questions you will never honestly answer because you will never get to spread your genes.
>>18803664
Only two groups hate cops: niggers and the mentally ill.

[Anonymous No.18803792]

>>18780151

wait tables for 50 years

[Anonymous No.18804329]

So anon what you sell atm? Is it still worth getting in? How much should I invest into my first product?

[Anonymous No.18804609]

>>18803763
SROs are bullies and when there's a shooting they just run away

[Anonymous No.18805000]

>>18804609
As I expected, no honest answer to be found. Be sure to give a Glock to your future daughter on the way to school.

[Anonymous No.18805025]

>>18805000
everyone in my family owns guns. both the girls have glocks

[Anonymous No.18805742]

>>18805025
I am glad your imaginary 6 year old daughterwas allowed to bring her gun to school to protect herself from niggers and rapists while the useless cops were too far away.

[Anonymous No.18806464]

>>18782148
Theres no way you live in a competitive neigjborhood.

[Anonymous No.18806514]

>>18783855
Those two cities are shockingly affordable compared to NY and LA. Better places to live if your work requires you to live in a major city.

[Anonymous No.18806793]

>>18785537

Steven Adeyefa is that you

[Anonymous No.18806822]

>>18780203
Not being a poorfag or pothead

[Anonymous No.18806848]

>He is not receiving a free house from his parents
OH YEEEEEAAAHHH IM LIVING LIFE ON EASY MODE FUCK YEAHHHHHHHH

[Anonymous No.18807087]

>>18780151
My parents gave me land and I'm building it with my own two hands? Do you not have parents anon?

[Anonymous No.18808115]

>>18805742
where the fuck do you live? is this really a concern? brazil?

[Anonymous No.18808262]

>>18793600
as if owning doesn't come with a much larger and burdensome list of restrictions

[Anonymous No.18808700]

>>18801949
New york cops are the biggest faggots ever and this is coming from someone who's grandfather was a detective in the NYPD.

Every single ny cop I've ever met has always been some double digit iq asshole who would immediately flaunt their job benefits and handgun ownership no matter what the conversation was. I remember Suffolk county cops bragging about their m&p 40s. Retarded niggers.

[Anonymous No.18809648]

>>18808700
I posted the steps because it's a biz board and I know I'm curious what other anons make so I figured they would also be. The city pd is in a perpetual state of bleeding personnel. It is a point of pride to work there a bit but you're not mentally stable to make the nypd a career. Suffolk county pd is literally a lottery. I'm going south.

[Anonymous No.18809744]

>>18780151
You buy them when the prices crash.

[Anonymous No.18810715]

>>18780151
Idk