/biz/ - Business & Finance

[Anonymous No.19306392]

>renting is dead money Anon
>Why don't you get into debt for decades like me?
>Your home is your greatest asset Anon, think about how people will be lining up to buy your McMansion in 30 years!
Is there anything more peak boomer than this?

[Anonymous No.19306411]

That's actually based, though

[Anonymous No.19306444]

Real estate is going to collapse soon

[Anonymous No.19306468]

>>19306392
Based and truthpilled
Buying or holding leveraged property now is full retardation

[Anonymous No.19306515]

Are you expecting boomers to save you from poor life choices? Not gonna happen you can rent or be homeless

t. Dad

[Anonymous No.19306522]

>>19306392
mortgage debt is different from what you are thinking of, which is why your post proves you’re dumbass.

[Anonymous No.19306775]

>>19306392
rentcucks are morons. what happens when you retire in 40 years? you going to pay $1000/mo rent on your $2200/mo social security until you die?

[Anonymous No.19306816]

>home is our greatest asset
and israel is our greatest ally.

[Anonymous No.19306881]

>>19306775
No im counting on a wave of boomer deaths in the next 20 years and no demand side demographics being there to buy their bags when the estates are handled. Why would i care about building equity in an asset class over a 25 year period if that asset is going to be 60% off in 20 years.

[Anonymous No.19306970]

>>19306881
why is it going to be 60% off

[Anonymous No.19306975]

>>19306881
what if your country continues to import more third worlders than are needed to replace the boomers?

[Anonymous No.19307025]

>>19306392
DUDE i just LOVE the hustle and bustle of the big city, it’s so DYNAMIC and makes me feel like i’m in one of my favorite TV SHOWS. you should totally come on down to my studio apartment, it’s got EXPOSED RED BRICK walls and everything, we can crack open a nice hoppy ipa or three and get crazy watching some cartoons on adult swim! and dude, dude, DUDE, we have GOTTA go down to the barcade- listen here, right, it’s a BAR where us ADULTS who do ADULTING can go DRINK. BUT!!!! it’s also an ARCADE like when we were kids, so we can play awesome VIDEO GAMES, without dumb kids bothering us. speaking of which megan and i have finally decided to tie the knot- literally -we’re both getting snipped tomorrow at the hospital, that way we can save money to spent more on ourselves and our FURBABIES. i’m fuckin JACKED man, i’m gonna SLAM this craft beer and pop open another one!!!

[Anonymous No.19307064]

>>19306392
wtf is that pink thing near the license plate

[Anonymous No.19307068]

>>19306970
Because the boomers will all die at once and no one except a boomer wants to live in a nice house everyone else wants to be cramped in an apartment full of nogs in NYC eating immigrant food

[Anonymous No.19307160]

>>19306881
never gonna happen. mortgage terms will extend to 40 years, debt to income ratios will go up. or housing will just be for the rich like in many european countries where the vast majority of people rent their entire lives.

[Anonymous No.19307197]

>>19307064
A finger

[Anonymous No.19307232]

A house is literally the opposite of an asset until it's paid off.

[Anonymous No.19307250]

>>19307064
you have to be 18+ to post here

[Anonymous No.19307258]

>>19306970
Demographics predict economies
>>19306975
>>19307160
Extend it 40 years. 50 years. 100 years. It wont matter if there isnt another wave of buyers coming. America is heading for a population cliff with a market full of sellers and no buyers, and any would-be buyers are going to be poorly capitalized having lived through at least 2 financial crises. Its not hard to see it coming, only people who disagree are those with skin in the game.

[Anonymous No.19307288]

Saw that Boomers own about 55% of the housing supply despite being a third or less of the population

When they need to sell them for some reason (Death or to retire for example) they will all be selling at the same time, bidding the price down until it sells. Problem is that nobody has the money to buy it off them.

[Anonymous No.19307299]

>>19307258
>I'm just going to wait 30 years until I'm dead to buy a house because the boomers got them for free and when the boomers are gone houses will be free again

[Anonymous No.19307304]

>>19306392
take the trailer pill
>costs a few grand total up front
>no rent
>bigger than an apartment
>no danger of getting robbed because everyone thinks you're poor
>can easily sell when you want to move
>don't even have to sell when you move, you can just buy a house and then move the trailer onto your new property and use it for storage or as a guest house
t. been living in a trailer for the last few years while having a net worth of almost 7 figures

[Anonymous No.19307400]

>>19307299
What? No im just saying why would i leverage myself into a weak asset class in my 20s when theyre all going to be on sale in my 40s. Of course dont let me stop you, market is going to need people on the losing side of the trade after all.

[Anonymous No.19307407]

>>19307232
Your home isn't an asset unless you've made money from it. Boomers only hope is that some greater fool comes along and buys their McMansion from them for a ridiculous price. Good luck with that!

[Anonymous No.19307425]

>>19306392
i'm currently saving for a house and flipping in the market to help get 20% down. as someone who rents, you are a literal fucking loser to try and justify this. know that OP, you're a fucking loser.

[Anonymous No.19307444]

>>19306392
>242x208 pic
>Why don't you get into debt
>mortgage

I shouldn't have even replied to you. you're 18 and a full blown idiot.

[Anonymous No.19307472]

>>19306392
>buying real estate is dumb
>I CHOOSE to rent, it's definitely NOT because I'm too poor to buy my own property
>haha look at all these happy successful attractive land owners, what a bunch of idiots

[Anonymous No.19307475]

>>19307304
travel trailers are only acceptable if you are working away from your family in another state. if that is your 'home" I legit feel bad for you unless it's temporary until you get a house/land. Even witha trailer you would need land otherwise you'd be renting the plot your shit is connected to in those shitty trailer parks

[Anonymous No.19307478]

>>19307197
lmao
>>19307250
nigger

[Anonymous No.19307487]

>>19307478
sorry but you have to go back to b faggot

[Anonymous No.19307494]

>>19306392
renters are retarded. the real chad buys a home and rents it out literally owning a home for free

[Anonymous No.19307498]

>>19307425
Larp

[Anonymous No.19307501]

>pay 2x more a month in rent anon, you are also free as a bird to travel and pay rent in lots of different cities and meet new people and not be tied down.

[Anonymous No.19307506]

>>19307487
enjoy buying your cuckshed and no im staying here

[Anonymous No.19307544]

>>19307501
>Lives with parents
>Doesn’t know how much a mortgage or rent is

[Anonymous No.19307560]

>>19307258
>would be buyers are going to be poorly capitalized
Speak for yourself only faggot I have plenty of legitimate money to finance a home I actually like with my means. The problem is faggots thinking a 350k home is a 500k home when it clearly isn't. People don't know how to value their shit, bottom line. And I am learning the arts of negotiation, rentcucks btfo again

[Anonymous No.19307593]

>>19307544
enjoy being treated like a ten year old then for the rest of your life and have no sex

[Anonymous No.19307633]

>>19307304
Could you expand on what's living in a trailer? I'm interested

[Anonymous No.19307656]

>>19307593
Lmao you don’t even know that the monthly cost of owning is higher than renting, in fact rental income usually doesn’t even fully carry the mortgage. The only reason to buy a house is to use a low interest mortgage to get leveraged returns from the house. If you buy with the expectation that the rental income covers the full cost of buying you’re a moron.

[Anonymous No.19307678]

>>19306515
I cant wait for that 5,000 check stimulus from social security to get passed.

[Anonymous No.19307696]

>>19306392
When real estate tanks, if it ever does again, I will buy a home. Until then I'm not going to baghold a fucking cardboard mcmansion for some faggot boomer trying to exit their sinking ship.

[Anonymous No.19307707]

>>19307656
where i live renting is twice as much as the payments on a mortgage. interests rates are so low right now. There are also like 20 people viewing each rental property, so prices are sky high to share a fucking bedroom with someone.

My area is fine also so don't even give me the living next to niggers argument.

[Anonymous No.19307736]

How does it feel to be having the same arguments on an anonymous image board for the 100th time?
This thread is so fucking gay

[Anonymous No.19307744]

>>19306881
And how much money are you wasting on paying rent? Like $1000/month. That's $120000 in 10 years. Maybe that same amount where you expect the houses to lose 60% of their price?

[Anonymous No.19307774]

>>19306392
t. rentcuck

[Anonymous No.19307775]

>>19307560
Now you listen here nigger i have 60k in the market and still live in my parents basement. If the market corrects to reasonable levels im buying a farm and leaving this fag society behind, if it doesnt im fine holding my energy stonks until i can just move to a europoor country and neet.

[Anonymous No.19307782]

>>19307707
Lmao total larp, when you move out of your parents house you will learn

[Anonymous No.19307820]

>>19307744
I only set 6k on fire a year to rent, 2.5 to insurance. I dump at least 25k a year into dividend stonks tho which most people at my income bracket cant do if they have a mortage hanging over them.

[Anonymous No.19307827]

>>19306444
Wasted trips. Been hearing this every year since as long as I can remember. Protip: it's not.

>>19307068
>waiting 30 years to buy a house because it will be "cheaper"

Lol nigger. So you're just going to piss money on rent as your purchasing power continues to dwindle instead of locking a 3% interest rate for 30 years on a loan that is paid back with money that's going to be far less valuable as time goes on.
Are you dumb?
There's plenty of legitimate reasons for not wanting to own a house but yours is by far the dumbest.

[Anonymous No.19307839]

>>19306392
>he fell for the false dichotomy
Renting and owning are each the better option depending on your circumstances.

[Anonymous No.19307848]

>>19307744
There are unrecoverable costs from home ownership: mortgage interest, HOI fees, maintenance, repairs, taxes, utilities, insurance, opportunity cost with using it for housing as opposed to higher return asset classes like stocks, opportunity cost of being anchored to one place and not being able to move for a better job.

It’s a boomer myth that home ownership is always a good idea. You should get one after you have a wife because she’s going to bitch at you until you get a different one that she wants anyways.

[Anonymous No.19307850]

>>19307744
I bought my house 6 years ago for $78,000 , rent would be $1000 to 1200 a month. It's already paid for itself in rent savings its paid off , meanwhile my neighbor has been renting for more than ten years . he bought his landlords house and hes got nothing, oh and now my house is worth about $120,000 sucks to be tied down tho and not enjoying ipas with my somali bf

[Anonymous No.19307856]

>>19306881
Chinese will ensure this isn't going to happen

[Anonymous No.19307862]

>>19307304
>can easily sell when you want to move
lol if you think this is true

[Anonymous No.19307867]

>>19307656
>what is putting down enough money for cashflow

[Anonymous No.19307871]

>>19307839
No they aren't idiot, assuming you are financing something within your means buying is much smarter than renting which is more or a compromise than anything. Pro tip most people don't know what living within their means entails

[Anonymous No.19307883]

>>19307400
>What? No im just saying why would i leverage myself into a weak asset class in my 20s when theyre all going to be on sale in my 40s. Of course dont let me stop you, market is going to need people on the losing side of the trade after all.

i have a feeling that if you sit down and do an analysis with reasonable and realistic assumptions you would come out ahead by buying now, even with house prices being inflated. but i'm too lazy to do this.

[Anonymous No.19307888]

>>19307848
You realize the cost of all those things is put on you as a renter, right?

[Anonymous No.19307897]

>>19307867
The more you put down on the mortgage, the less attractive of an investment it is. It’s the cheap debt that makes it a good deal

[Anonymous No.19307898]

>>19307848
There are unrecoverable costs from home ownership:

mortgage interest, HOI fees,
Nope. Pay cash, no hoa

maintenance, repairs, taxes, utilities, insurance
You pay those renting or buying

, opportunity cost with using it for housing as opposed to higher return asset classes like stocks,

Nope it's a guaranteed return vs a possible loss of 100%

[Anonymous No.19307912]

>>19307848
>waiting for a wife
Don't forget about the 20k wedding you plan with this bog monster some of which you take on credit. I've seen it happen rentcuck

[Anonymous No.19307917]

>>19307888
They are not, Let’s take Toronto for example. 2 bedroom condo has all-in costs of $3500/mo to carry. Average rental for a 2 bedroom apartment is $2500/mo. Average real estate investor is a bag holding idiot

[Anonymous No.19307931]

>>19306392
>debt
Brainlet detected, big boys call it leverage. The only reason to buy a house is to use a mortgage. I’m not saying to rush into buying a house but once you have a mortgage, you should always have a mortgage.

[Anonymous No.19307939]

>>19307897
True, that is part of it. Either way, your tenants are subsidizing your mortgage cost whether it's 20% or 100+% and over time as rents increase their portion of the debt being paid also increases.
I hate rental properties as it's incredibly jew tiered but at the same time it's mathematically it's probably the best investment opportunity most people will have access to.

[Anonymous No.19307940]

>>19307898
Housing is not a guaranteed return lmao and paying cash makes you a total idiot. Like I said, this is 100% guaranteed larp by someone living with their parents.

[Anonymous No.19307952]

>>19307850
None of this makes sense. You are saying your house was 78k which is really low 6yrs ago. What about closing costs? Also you act like you now have over 100k, but that is bull. You likely paid off only about 6k on the house. So you have a 72k mortgage on a house maybe worth 120k minus closing costs. Assuming your numbers aren't bullshit.

>inb4 I made a big down payment. That means nothing. Either your mortgage would be more or less with down money in the bank.

[Anonymous No.19307965]

>>19306444
Nuh-uh

[Anonymous No.19307986]

what kind of garbo interest rates do you have on your mortgages for renting to be worth it? my interest is like 0.5% on my 30 year mortgage lmao

all said and done I effectively pay ~1/4 of what renting would cost me in my city with a 40% down payment

[Anonymous No.19308006]

>>19307304
kek
I want to buy one and use it as my cuckshed at home

[Anonymous No.19308019]

>>19306392
Had my house for about 10 years. I pay less than anyone I know who rents and live in a nicer place. I could rent out my house and make 600/m passively. In another 20 years I'll have an asset that's worth hundreds of thousands, and people still renting will not only have no asset, but will be paying whatever rent is inflated to at that point.

[Anonymous No.19308023]

>>19307939
If you have a place where you’re pretty confident rents/property values will increase yoy I agree but Corona has rekt that, there’s far less demand in these tech boom towns because people can just work from home and commute in once a week.

[Anonymous No.19308025]

I don't get why ''buying a house'' is some sort of holy grail?

[Anonymous No.19308039]

>>19307986
Woowoowooowooooo larp alert

[Anonymous No.19308040]

>>19307917
It’s pretty much known to anyone who isn’t LARPing that you are more thank likely going to be cash flow negative for your first ~5 years as a landlord unless you put up a massive down.

It’s still worth it tho.

[Anonymous No.19308048]

>>19307940
It is guaranteed because I'm saving $1000 or more in rent

>>19307952
I paid cash. But since you are poor you can buy a house in almost every state for $100-$300 mortgage but you are spoiled and probably need to live in Manhattan

[Anonymous No.19308058]

>>19308025
You need Land in order to be Landed Gentry.

[Anonymous No.19308068]

>>19307917
And as time goes on your rent will increase at a rate greater than the increase of the owner's associated costs.
Even if there's no cash flow the investor still benefits from loan pay down + appreciation + tax write offs.
My man, real estate is all about leverage. Forget about the property itself. It's just the fact you are controlling a huge asset with very little money of your own.
Even if it doesn't cash flow I'm only paying the difference to have a 6 or 7 figure asset appreciate and as time goes on that rent number creeps up but my loan doesn't change.
It's just math and the math almost always favors investment property over other assets because of the multiple ways it generates money / savings (same thing).
You really only take the L when you buy a primary residence but even then it's usually better than renting even when opportunity costs are considered because you're not going to see those 10+% returns so many have become accustomed to.

[Anonymous No.19308087]

>>19308025
People who own try to fomo you into owning as well because it keeps the demand up. I have a rent controlled 2 bedroom and pay less than half the market rate for rent. Why should I buy a half million dollar condo at the peak? Much better off putting everything in stocks

[Anonymous No.19308099]

>>19308025
Are you one of those guys who brags about losing money on shitcoins

[Anonymous No.19308101]

>>19308068
This guy gets it.

[Anonymous No.19308108]

>>19308068
>real estate is all about leverage.

Home ownership isnt

[Anonymous No.19308112]

>>19308039
nope

>100k down payment (total cost 285k)
>monthly mortgage payment: ~660 USD, vast majority goes towards paying down the mortgage
>"property fees" (don't know english word) ~120 usd
>renting similar apartment: 1600 USD / month
>tax deductions on mortgage payments

do the math, feeling comfy

[Anonymous No.19308118]

>>19308099
I'm not even into crypto ayy lmao.

[Anonymous No.19308119]

>>19308023
Yes and no. I do 100% think there will be a decline in big / over priced cities but I don't think it's going to be as much as people are expecting.
Some people like being in the office and most people in tech etc are urbanites. I hardly see a return to suburbia and rural living unless it becomes some hipster meme which would be hard to do since the minute some hipster faggots end up in rural America they'll hate it and want to return to their $4,000/month 2 bedroom in Portland.

[Anonymous No.19308127]

>>19306444
Trips of truth. Mortgage cucks will likely kill themselves when their expectations of huge returns meets reality of changing demographics. Why would anyone buy those shitty cardboard mcmansions at all? Do they think 'refugees' or beaner wall jumpers are all going to be brain surgeons or something in the future? Fucking retards.

[Anonymous No.19308131]

>>19308068
>30% unemployment
>55% unemployment among young people
>Boomer mentality thinks rents will still go up

[Anonymous No.19308143]

>>19308087
>I have a rent controlled 2 bedroom and pay less than half the market rate for rent.

Pretty much in the same boat. In my euro cuck country the people who rent also have shitloads of rights and protection.

[Anonymous No.19308164]

>>19308108
I view the two kind of differently. Home ownership isn't an investment, it's like a car or any other consumer product. You should pay big cash up front but have some of it on loan to give yourself some breathing room. It's also really really hard to pay for a primary residence in full assuming your income is even high normal for the area.

[Anonymous No.19308173]

>it takes 6 months on average to legally evict someone

lmao, get dabbed on boomers. that's 6 months of rent going directly into my investment account. meanwhile, if you don't pay your mortgage the bank is on your ass exactly 2 seconds after your payment is late

[Anonymous No.19308186]

[Anonymous No.19308194]

>>19308131
>now is the only time that will ever be

Rent goes up eventually. Mortgage goes up never.

[Anonymous No.19308203]

what are the realistic chances of a real estate crash? There are less and less new homes being built and would-be sellers are holding onto homes. Also, demand is artificially propped up by immigration and foreign interests using property as an asset to hodl. The system seems rigged to the point where prices can't correct.

[Anonymous No.19308217]

landlords add no value to society
it is zero sum, they take an asset away before actually adding anything.

[Anonymous No.19308218]

>>19308194
I may buy something, but it will be after these small landlords get margin called by reality

[Anonymous No.19308221]

>>19308131
>30% Unemployment
>The majority of the country has some kind of mandated shut down still in place.
>The government is making it more lucrative to be unemployed than to have a job

Fucking doomers man.

[Anonymous No.19308233]

One nice thing about owning a modest home in flyover country is your fixed costs can be really low. I can live here for $5 a day in property tax and another $5 a day in maintenance and $6 in utilities

[Anonymous No.19308253]

>>19307258
How is that graph evidence in your favor?

It shows another bump of 25 to 29 year olds in 2030.

[Anonymous No.19308257]

>>19308217
I agree for the most part. There's always exceptions.
Anyway, regardless of whether it's right or wrong it's the rules in the game we have to play and for most people it's their only way to actually get ahead.
I really blame the politicians for selling out to china. Ban non citizens from owning property and watch how quick the affordability crisis gets solved

[Anonymous No.19308266]

>>19308203
Rich people are buying extra houses in the country, rural land is a good investment and especially the cheapest houses

[Anonymous No.19308289]

Can I buy a quadplex that costs $850k as a first time homeowner then cover the mortgage from renting out 3 of the units ?

[Anonymous No.19308303]

>>19306392
1985-1995 was the peak

[Anonymous No.19308306]

>>19306392

Nobody talks about the massive risks, upkeep, and other costs a home incurs. The endless repairs, taxes, leverage risk (imagine having had bought a home in the past year), 10% to the bloodsuckers when buying AND selling, your sacrifice of better access to transportation, transit, shops, for an affordable place, ie TIME being saved; NOBODY talks about this, because almost every homeowner is a retarded bagholder trying to rope you into their ponzi, and every person who gets roped in means their investment value went up. Here's a good investment tip: Anything that'll "never go down" in price is a bubble.

https://www.youtube.com/watch?v=7dWvvPUX2hU
https://www.youtube.com/watch?v=vmpaFiTTZBA

Buy a home if you want by all means, but recognise it's a risk

[Anonymous No.19308333]

>>19308289
My understanding is that FHA loans cap at $500k and anything above that is considered a jumbo loan.
If the tenants have leases and theres a rent roll you should be able to deduct from the loan amount.
Talk to your lender.

[Anonymous No.19308344]

>>19308306
Because it's a figment of your imagination

[Anonymous No.19308366]

>>19308306
>repairs
you get what you pay for
>taxes
?
>leverage risk
don't buy if you can't afford
>10%
where I live it's ~1% and only when selling
>"better transportation"
literally what, same can be said for renting - you get what you pay for

[Anonymous No.19308390]

>>19308306
If you can't float the costs of ownership then yes there's a risk and you shouldn't be buying in the first place.
That's why all these AirBnB faggots are getting burned and dumping because their entire business model was built on leverage.
Leverage can be a great tool but you need to know what you're doing.
There is a time commitment involved too, so if your time is more valuable or you just can't stand it then don't do it but a lot of problems can be avoided with good due diligence, tenant screening, and location. There's pros and cons like everything, don't focus on just one, compare and figure out what's right for you.

[Anonymous No.19308418]

>>19308218
Believe it or not, people learned their lesson from 2008. Banks expect you to show a ton of liquidity when you go in for your second mortgage. Getting leveraged to the tits is a commercial real estate thing now.

[Anonymous No.19308460]

Iq 20 thread answers guys. YOU SHOULD GET IN DEBT RIGHT NOW!!!!!! Why? Hiperinflation sis comming, basic logic says borrow as much as you can.

[Anonymous No.19308492]

>>19306392
Homes should not be an investment and people who do that are cancer. A home should be just that, a home. A place to raise a family and pass it on to future generations.

[Anonymous No.19308523]

>>19308418
But not all of them me thinks. People who were over leveraged in 2008 got rekt and "recovered" a little bit to continue there same bullshit to 2020? Those are the people I am counting on shitting the bed and I want that house at a discount. I will low ball these fuckers

[Anonymous No.19308663]

>>19308253
Smaller percentage bump with shittier dependancy ratios

[Anonymous No.19308703]

"muh housing bubble" is the BIGGEST rentcuck COPE

they think it's going to be some sort of apocalypse. just look at the last graph of pic related and how quickly it recovered.

meanwhile, rent continues to raise... and so does my home's value hahahahahaha

stay retarded, rentcucks

[Anonymous No.19308774]

Real estate seems like a trap to me. You never own the property. The state can come and condemn your building or levy fines against you for tax evasion, or even take the house from you in some jurisdictions. Meanwhile you're tied up in a 30y debt obligation that ultimately costs you a huge amount of cash to finance. By the time all is said and done, you're dick deep in a pile of shit that was clad in gold plate. What's worse is, say the local economy dries up: people have to get out of town, houses go on the market, and prices face a substantial drawdown while the market becomes increasingly competitive. And then it becomes a question of how resilient your position at work is, and how resilient the local economy is, or if it can be restructured efficiently.

And that's without factoring in things like acts of god raining down on your roof and destroying it. Burst water pipes, or sewer lines. Shitty neighbors coming in and hurting property values. Poor work done at conception, shitty construction, and butchered renovations. Small property allotments that you can't do practical shit with at a meaningful scale. Zoning laws that prevent you from running a business front, or certain constructions are forbade. These things among hundreds of other caveats that leave a man wanting.

Fuck that. Shit deal.

[Anonymous No.19308821]

>>19306975
Then we don't want to live here, kek

[Anonymous No.19308835]

>>19308774
Why didn't you mention the plague of locusts

[Anonymous No.19308873]

>>19308774
Still better than renting. And those are the two choices available

[Anonymous No.19308890]

>>19307494
Worse thing you can do ATM. Soon People will on UBI, then government subsidized housing equalivent to food stamps.....

You think the government isn't just going to keep paying would-be land Lords, before eventually "cutting" out the middle man?

[Anonymous No.19308898]

for your information
in the current market conditions your home equity can go negative, yes this means you will have to pay to get rid of your house
but thats impossible anon, just like negative oil was impossible to up a month ago

the factor you are all forgetting is the tax liability that is attached to a house
housing equity is very difficult to move in a changing regulatory environment and local authorities know this, jacking up real estate taxes is a prefered method for municipalities to straighten their dying books for a few more years
and within the western world almost every local authority is bankrupt, illinois is a good bellweather for this behaviour, it is entirely possible for landtaxes to be jacked up beyond affordability
at this point you can only get rid of your tax liability by selling which would be akin to selling someone your seat in a burning theater, cause you will have to pay your taxes no matter what

the only play with real estate at the moment is leveraging up to the gills and hoping for a high inflation event, but you will have to stay liquid for the duration so its pretty much gambling
better to wait untill the current chaos settles down before getting into a long term asset like housing

[Anonymous No.19308920]

>>19308703
2008 in general was a bear trap, everything swung beyond fair value despite the problem just being with retard investment bankers. This crisis is the opposite, Main Street is in shambles and bankers have insurance from the fed

[Anonymous No.19308933]

>>19308873
Mexicans and chingchongs can figure out how to buy houses it's just entitled white boys who claim that boomers were gifted two mcmansions at birth that like to complain about landlords that doht have the discipline of a 5 year plan to own a home outright

[Anonymous No.19308967]

A big reason millennials love to pay landlords is they dont know how to change a light bulb or operate a vacuum cleaner much less a lawnmower. Owning a house is just too scary

[Anonymous No.19309203]

>>19308933
This.

How are millennial rentcucks going to cope when they find themselves paying rent to a first generation immigrant who just got on with it instead of whining?

No more compelling evidence for complete and total loss of the game can be found.

[Anonymous No.19309276]

>>19309203
>>19308933
Kek, I live in a pretty nice neighborhood the guy next to me is a semi illiterate Mexican who bought a couple shitty Nissan pick up trucks and started a landscaping business. He’s got more money than 90% of the people in this thread.

[Anonymous No.19309590]

>>19309276
And less than 100% citizenship I am sure. I am not even mad at him though, he is a byproduct of this shitty system.

[Anonymous No.19310003]

>1 post by this id
And lots of lots of angry mortgage cucks. Based zoomer does it again.

[Anonymous No.19310137]

When all these lazy millenials and zoomers cant buy these houses off the boomers, who is gonna buy them? Are the boomers gonna kill themselves when they realize this?

[Anonymous No.19310147]

>>19310003
He thinks being findommed by boomers is based.

Your rent is paying their mortgage, dummy.

[Anonymous No.19310153]

>>19309276

America is a literal lottery win of a country to live in. There is nothing worse than the children of middle class whites whining about how hard life is and pining for socialism like morons.

[Anonymous No.19310209]

>>19310153
>bro life is easy just help the rich get richer and live off the leftover scraps

[Anonymous No.19310221]

>>19308933
Spics literally live 20 deep in one house and work 7 days a week. The chinks who do it are wealthy and china and are looking to dump their money into a more secure asset class like real estate. I live in Boston and the amount of Chinese money (and people) here is insane.

>>19309590
I get why they do it but I wouldn't hesitate to send his fried bean eating ass back to Mexico if I could with absolutely zero dollars to his name after eating all his possessions seized by the state.

[Anonymous No.19310632]

>>19306392
A 1989 study published by two well-respected Harvard economists predicted that the aging of the baby-boomer generation would reduce the demand for housing and cause a significant decline in real home prices. The professors concluded, “If the historical pattern [between births and housing demand] continues over the next twenty years, housing prices will fall to levels lower than observed at any time in recent history.” Of course, the opposite has happened.

And then there’s this. In 1971, the economy of Seattle was suffering. Boeing had cut more than 60,000 jobs and the outlook for Seattle’s future was reflected in the words of a famous billboard from the time: “Will the last person leaving Seattle turn out the lights.” Today the city has some of the most expensive real estate in the nation.

Our recommendation: Beware of predictions, especially about the future.

Paul Kupiec and Ed Pinto are baby boomers and resident scholars at the American Enterprise Institute.

[Anonymous No.19310646]

If renting is cheaper than owning, clearly all landlords in the world are just idiots losing money irrationally

[Anonymous No.19310675]

>>19310221
>wants to send back productive citizen because he's mexican
you are actually unironically pathetic

[Anonymous No.19310691]

>>19310646
Renting is cheaper than owning, the reason why people buy real estate as an investment is because they can get leveraged returns on it.

[Anonymous No.19310741]

>>19310147
Going to a burger joint or bar regularly, you're also paying the guys' mortgage. Why get so dominated by them, pussy? Time to get out a 30 year loan for food or beer to show those bastards! Since prices will go up so it's the logical choice really.

[Anonymous No.19310745]

Ah yes, Limiting my investing universe, creating opportunity cost, limiting myself to a certain region, going all in early in life. Housebuying is just great.

[Anonymous No.19310749]

>Collapse
No.
Prices of homes will fall in the long run due to changes in demographics, but we're talking a span of a few decades. It's not a secret that whites price out blacks from particular areas by charging astronomical prices for homes, but this just means that as certain areas reach higher minority populations, prices of homes in those areas will fall accommodate.

[Anonymous No.19310754]

>>19310691
NGMI

[Anonymous No.19310774]

>>19310754
Are you stupid? Do you own a piece of property? No you don't, you're larping like 90% of the people in this thread who have never actually investigated buying a house.

[Anonymous No.19310783]

>>19306444
Please help this brainlet anon out.

90% of my assets are in real estate, I’m 28, no loans, no debt, no mortgage.

How fucked up am I?

[Anonymous No.19310814]

>>19310774
Wrong again. 35yo and own my house outright. Next stop is getting a buy-to-let mortgage and have someone like you pay for it.

[Anonymous No.19310835]

>>19310783
If you have no mortage then rent them out if time gets tough and wait for it to eventually return.

[Anonymous No.19310865]

>dealing with shitty landlords and rent increases

yeah I'll buy, thank you very much

[Anonymous No.19310897]

>>19309276
And these mexicans have 4 kids they aren't complaining about they cant afford one kid they just crank them out and you rent cucks get to pay for it with your property and income tax. There are plenty of ways to buy a house or make $$$ but it takes effort and time

[Anonymous No.19310936]

>>19310221
C'mon plenty of chinjs and gooks and japs before them lived on rice and beans to save a few $ and become millionaires I'm not denying that some are rich but the ones arriving in containers arent

[Anonymous No.19310941]

>>19310814
Made me mad but still based

[Anonymous No.19311041]

>>19306392
I dunno. Renting a shoebox owned by some bitter old Chinese lady in an urban core seems as stupid as buying a McMansion that has a bank-like facade made out of foam.

[Anonymous No.19311500]

you got a point but we have to look at the market

today those same people who said " RE can only go up" in 2007 are saying this same thing again

RE was in a bubble in 2007 and it popped today RE and not only other assets as well are in a HYPERBUBBLE and thanks to covid it already popped
people losing jobs left and right, boomers selling their second homes to fund their retirement, airbnb already crashed and the commercial RE is taking the biggest hit

look for 30% - 50% correction in a year or two

[Anonymous No.19311545]

>>19306392
I make 100k/year but live in SF so I’m a poorfag. Home ownership is out of reach and my rent payments are that of a mortgage. Must leave, get a cheap rent and invest more in crypto/stonks.

[Anonymous No.19311586]

>>19306392
>Rent cucks vs Mortgage cucks fighting over who's getting Jewed the least
No matter how you slice you're getting fucked in the ass, you can't really escape it.

[Anonymous No.19311605]

>>19311586
Unless you save, and go and buy a property outright in a third world country. Ownership =! Mortgage

[Anonymous No.19311632]

>>19311500

beautiful. I believe it

[Anonymous No.19311668]

>>19308933
>5 year plan to own a home outright

where the fuck do you live?

[Anonymous No.19311700]

>>19311041
>Renting a shoebox owned by some bitter old Chinese lady in an urban core seems as stupid as buying a McMansion that has a bank-like facade made out of foam.
Ha!

[Anonymous No.19311703]

>>19311668
USA, geez just rent out a few rooms and yeah it's easy in 5 years

[Anonymous No.19311717]

>>19307506
i will enjoy getting a house. enjoy the ban, loser.

[Anonymous No.19311775]

>>19310814
>Wrong again. 35yo and own my house outright. Next stop is getting a buy-to-let mortgage and have someone like you pay for it.
Another larp

[Anonymous No.19311991]

>>19307883
Yea but the point is many things will set you up to come out ahead so stop Jerking off to property ownership

[Anonymous No.19312051]

>>19311991
A place to sleep is one of the requirements in modern living. After you get that everything else is easy

[Anonymous No.19312256]

>>19311668
If I was living with parents I would be able to pay off flat/buy within 5 years and I earn barely anything above minimum wage. That's because I was saving almost everything I earned. I don't drink alcohol nor smoke, typical consumer entertainment doesn't interest me and often puts me off because I hate noise. All my expenses were just food, gas so I could drive to work and like once or twice a year game on promotion. It isn't that hard. Sadly my mother and her new husband wanted me to move out, just like kid of that guy had to move because he was making mess everywhere so now instead of saving 80-90% of my wage I'm wasting like 60% of it on rent and bills. I told them that by doing this they're fucking me over by turning mortage in 1 year/flat in 5-6 years into ~15 years to afford initial payment to get the mortage going, not to mention paying it off, and offered to split the bills because it'd be cheaper but they didn't care. On top of that they sold additional properties they had instead of renting them out which I found fucking retarded. West is just very individualistic in comparison to other cultures so it's obvious you're going to lose if you have families who work together and help each other. It's not uncommon to pile up the savings to send someone to the west so they could get a life they could only deam of in their shitholes, then the person sends money back so family could invest in home business and get richer, bring family to the west, they set up family business which doesn't require costly middle men, grandparents who don't have big needs often still send some money to help.
So yeah, it is possible, but sadly less common in west, lot of people get fucked, like me. And I will remain fucked until I either find someone to split the bills or get better paying job. The only "happy" thing for me in this mess is that mother regrets her decision after I almost completely cut the contact with her, and the remaining contact is just out of principle.

[Anonymous No.19312293]

>>19311775
The sheer cope of it all. Thinking that something as easily doable as being mortgage free at 35 is a larp is a cast iron guarantee that you're not gonna make it.

[Anonymous No.19312307]

>>19312293
Right but it's still a larp

[Anonymous No.19312427]

>>19312293
Its doable by age 25

[Anonymous No.19312485]

>>19307888
Not If the market rental rate is lower. In theory it should on average cover all costs +profit for the land lords but this is only over 30-40 years or so. There will be stretches of 10 years or so with oversupply in the market where its just not possible to make a profit renting out.

[Anonymous No.19312531]

>>19308019
Congrats on buying close to the market low.

[Anonymous No.19313055]

>>19311991
he's already commited to paying shlomo every month like a good goy. it's a sunk cost.

[Anonymous No.19313302]

Why is everyone obsessing about residential?
Commercial real estate bubble is the actual issue. It's far more overvalued and far more prone to collapse given small businesses going bankrupt and WFH being a thing.

[Anonymous No.19313499]

motorbike accident pay out, £200k.
bought cash, never have to deal with shit landlords again.
last place i rented had damp in for spots, busted for alarm and front door to apartment block didn't loch properly, which her never fixed over the space of two years. luckily opening a house, you can fix these problems instead of living with them.
now I'm mortgage/rent free i can invest.
over the two years he tried to put the rent up once even when the place was taking to bits. once you're locked in with a mortgage you wouldn't have price increases unless you're on a variable tracker.
also the price of your house should in theory go up.
your house is collateral of you want to borrow against it etc.
always have one house under your belt.

[Anonymous No.19313511]

>>19313499
my auto correct nearly made this all unreadable

[Anonymous No.19313540]

>>19313511
the accident has left you brain damaged Anon.... a small price to pay to get on the property ladder no less.

[Anonymous No.19313849]

>>19308203
Get in the fucking pod and the bugs

[Anonymous No.19314432]

>>19308112
>claims he has a .5% interest rate
says >do the math.

Lmao

[Anonymous No.19314445]

>>19306444
Checked

[Anonymous No.19314623]

>>19306392
Lol why would you get a 30 year loan retard

[Anonymous No.19315512]

>>19306392
You understand they stopped making land a long time ago, right son? You understand you can sell your house long before the loan is paid? You understand that ChainLink is going to usher in the 4th industrial revolution... RIGHT?!