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

/biz/ - Business & Finance

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19519210 No.19519210 [Reply] [Original]

Hahaha

>> No.19519252

>>19519210
Yes, work hard wagies

>> No.19519320

>>19519210
he is right.
I bought a $350k townhome with my gf. We put 50k down. It's been 2 years and we've had $40k worth of expenses, maintenance and repairs, including a new roof.

Unless this townhome is worth a lot more one day we're already in the hole.

>> No.19519354
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19519354

>>19519320
LOL please tell me this is a fucking larp or something

>buying a townhouse
>for three hundred and fifty thousand fucking dollars

HAHAAHAHAHA

>> No.19519383

>>19519210
tell that to all the people who rode the housing bubble

I'm not saying that there will be another housing bubble to the same extent, I'm just saying, the guy is fundamentally wrong

>> No.19519395

>>19519210
You have to live somewhere anyways, idiot

>> No.19519423

>>19519210
So fuckinh true.
I'm working on my house right now doing hard masonry work.
Owning a house to create wealth is a stupid meme being pushed by real estate agents and mortgage pushers. Things you own end up owning you.

>> No.19519432

>>19519210
well yes, as long as you live yourself in it it will be a money hole, unless you get the chance to sell at another bubble top

renting it out with correct calculations of maintenance cost etc on the other side...

>> No.19519460

>>19519210
This logic is flawed because it's ignoring the fact that everyone still needs somewhere to live at the end of the day. It's not buying property vs not buying property. It's buying property vs renting, an activity where you spend just as much if not more money than you would through a mortgage, but with no equity gained whatsoever. Yeah, schiffberg can say that MUH GOLD is a better investment than property or whatever, but you can't live in a gold ingot.

>> No.19519487

>bought home in 2011 for 350k
>1st time home buyer given lost of incentives
>over the course of 9 years hve done about 30k in updates, repairs, improvements all around
>home is worth over 750k now with no boomer covid deaths housing bubble burst in sight

get fucked

>> No.19519528

>>19519320
>Townhome
Retard

>> No.19519537

>>19519487

Your mom is an incentive.


FOR
DEEZ

N
U
T
S

>> No.19519556

>>19519210
But the land the house is on doesn't depreciate and costs nothing to maintain
That Louisiana Purchase sure worked out well for France, huh

>> No.19519557

>>19519210
tell that to your normie Australian

>> No.19519578

>>19519383
If the housing bibble hadn't popped where it did, half the country would have been homeless by 2016 and the bubble popping would've been 90's japan on a global scale.

>> No.19519591

>>19519460
You're gaining ~5% of your initial payments as equity in exchange for the downpayment that could be invested instead, that's not the reason for homeownership, it's really just a speculative play to make fat capital gains and sell to the next retard down the line

>> No.19519602

>>19519487
Good job you bought the bottom

>> No.19519636

>>19519210
>You cant just buy a house and live in it
Boomers are a fucking cursed generation

>> No.19519663

>>19519320
>he didn't check the age of the roof before purchasing

>> No.19519695

Bought last year, already up $40k on the last appraisal and the local rents have blown past my mortgage.

>> No.19519751

>itt dumbasses who choose the wrong property and get fucked, then blame their retardation on other people

It's simple anons, buy a duplex or a single family with at least 4 rooms and rent them out. Get it for less than or equal to median house value in the city. Rent out the rooms you don't use and offset your living expenses.

People who just buy a house because "it looks nice" are so fucking stupid and get rekt so hard. It takes months to find the correct property to purchase.

>> No.19519791
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19519791

>haha why would you buy a house when you can invest in shitcoins?
>if I wanted I could totally put together a down payment and get approved for a mortgage despite having no credit history and living with parents, I just choose to invest in shitcoins that will moon any day now
>I'm a prudent investor and not just a manchild with no prospects buying the zoomer equivalent of lottery tickets with the $400 I take home each week

>> No.19519808
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19519808

>>19519210
based and kiyosaki pilled

>> No.19519866
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19519866

>>19519210
>NOOOOOOOOO YOU CAN JUST OWN A HOUSE AND LIVE IN IT

>> No.19519966

i say if you buy house as an investment, treat is as an investment and rent out the rooms. I plan to buy a house with 3 rooms to rent out the 2 other rooms. millennials aint buying homes, so ill rent to them.