Bye bye boomer box bag holders: laugh at home buyer thread

[Comfy No.20947707]

https://www.npr.org/2020/06/03/867856602/millions-of-americans-skipping-payments-as-tidal-wave-of-defaults-and-evictions-

Where are the faggots that used to daily post about their amazing real estate investments? They must be homeless or bankrupt by now! LMAO. Falling for the real estate meme only a decade after the bubble burst, but at much higher prices!


How will mortgage cucks ever recover?!

[Comfy No.20947734]

>>20947707
Buahahaha!

[Anonymous No.20947747]

Hope it crashes here in the UK although don't see it happening

[Anonymous No.20947783]

>>20947707
homeowner bailouts in 3..2..1

[Comfy No.20947787]

>>20947747
Oh it fucking will m8.
2009+ didnt solve anything. This crisis is just making it harder for central banks to keep it going.

[Anonymous No.20947794]

>NOOOOO YOU HAVE TO INJECT MORE FUNNY MONEY AND BAILOUT SCHLOMO TOO KEEP THE BUBBLE GOING

[Anonymous No.20947815]

>>20947794
BUYING THE TOP OF A BUBBLE IS A GOOD IDEA, THE BOOMER/NPC/NORMIE HANDBOOK SAYS IT RIGHT HERE

[Comfy No.20947830]

>>20947783
With what tax base? No one's working. There's more money going out than in. China isn't buying bonds. Oil rich countries are all limiting expenditures. there can't be a bailout if no one buys the bonds.

[Anonymous No.20947849]

>>20947707
seriously though how much longer till prices crater and I can use my clownmarket earnings to buy property?

[Comfy No.20947855]

>>20947794
Bailouts only effect asset prices. There's no cash flow for the landlords to make payments! They are fuckeroni. Stock market is spiking because at least stocks can be inflated more. Housing and commercial property prices are fuckkkkeddd. Lmao.

[Anonymous No.20947857]

>>20947815
>DUDE JUST PAY OFF A HOUSE IN 40 YEARS LMAO

[Anonymous No.20947867]

>>20947830
fed will buy it

[Comfy No.20947891]

>>20947855
If any of you have any money, time to take out loans. Start businesses, buy liquid or performing assets. Buy stocks. Hell, even shit coins are smarter than RE right now. Hyper-inflation of assets and deflation of RE is the only likely result of this market.

[Comfy No.20947914]

>>20947867
buy what? The house you lost to the bank when you got foreclosed? Normal non institutional investors are fucked! Home owners are fucked!

[Anonymous No.20947990]

>>20947734
If the money printer continues, the prices for everything (yes that includes houses) will be inflated to beyond reach of the normies.

[Comfy No.20948046]

>>20947990
What is the point of a $5m house if you cant afford the mortgage when it was $800k? Unless the fed does negative rates, house prices are already past the point of affordability for most buyers. If rates do go negative, people who buy with negative rates actually benefit to buy houses! People who own now are fucked either way!

[Anonymous No.20948064]

>>20947707
They get what they fucking deserve

[Anonymous No.20948088]

>>20947830
>With what tax base?
the future tax base.

do you think we need to take in money before we can print money? Have you not been paying attention?

[Comfy No.20948236]

>>20948088
We have to pay interest on debts. Again, money printers only inflate asset prices. Incapacity to pay your mortgage is not impacted by bailouts.

[Anonymous No.20948274]

So when can I take my crypto gains and buy a cheap house? These low interest rates seem to be delaying the inevitable.

[Anonymous No.20948318]

>>20948236
>money printers only inflate asset prices.
yes, the price of the house goes up, your equity goes up, your mortgage payment drops in value, you can borrow more easily, etc.

> Incapacity to pay your mortgage is not impacted by bailouts.
yet the last bailout paid my mortgage for 3 months. So weird.

[Comfy No.20948320]

>>20948274
Either when rates go negative, in which case you are being paid to own a house by lenders/gov. Or when 2008 2.0 happens when all the jobless and under-employed have to sell their homes or declare bk due to record high debts.

[Anonymous No.20948343]

>>20948320
>2008 2.0
More like 1930 2.0, this downtrun is already at Great Depression levels

[Comfy No.20948359]

>>20948318
mortgage payments are fixed. Dont larp.
Equity increases aren't instant and most likely will not do anything put borrowers in a worse position, especially since bailouts are used to counter deflationary pressures in the market. A bailout wont magically make your house double in value so you can refi at 90% and live happily ever after.

Your $1200 check paid for 3 months mortgage? You're already broke.

[Anonymous No.20948391]

>>20947747
Won't happen, there a lot more bids then asks. Same here for in The Netherlands. The only thing that could happen is that people with simple jobs lose their jobs and become homeless

[Anonymous No.20948461]

>>20948359
>mortgage payments are fixed. Dont larp.
the value of the dollar isn't fixed. Don't be dense
>Your $1200 check paid for 3 months mortgage? You're already broke.
that's $1200 per adult and more for kids, retard.

homeowners aren't usually sexless virgins like you guys.

[Comfy No.20948465]

>>20948391
Don't forget that massive bid on tulips that won't randomly disappear.
Markets have 3 trends. Panic buy, panic sell and stagnation. Do not mistake a current buy as a long-term trend.

[Comfy No.20948651]

>>20948461
>hoping inflation drastic enough to significantly lower the "real" cost of my mortgage saves my ass.
You do know you are facing unprecedented DEFLATIONARY pressure on home values right? Your house is an illiquid liability bomb waiting to explode(or implode). You have to pray the average income increases enough for you to sell your bags to a bigger retard. Which it isn't. Or that your house is elite enough for the 1% to buy. It isn't. If asset prices are bolstered, you wont see a dime of it without a refi, unlike stocks or bonds. And that would not save you since your mortgage goes up to counter inflationary movements, which counters your original statement. Then you can count on daddy government to increase property taxes to pay the new loans it took to increase the price of your house. Dont forget household expenses also increasing. Top it off with lower real income due to a financial recession leading to the bailout you are counting on in the first place, likely impacting your income, and you are fucked. Unless you are retired and have enough investments to cover lost income. A general bailout of all tax payers doesn't save you because we all get that bailout, and people not locked to a boomerbomb aren't held back buy a giant home-shaped financial anchor.
>Owns a boomer box with a husband and adopted children
You and your husband are even more fucked than i thought. Cope harder.

[Anonymous No.20948707]

>>20948651
>Unless you are retired and have enough investments to cover lost income.
homeowners tend to be much wealthier than you as well.

as you probably already know.

[Anonymous No.20948744]

>>20948707
this disagree, maybe u

[Anonymous No.20948837]

>>20948707
>homeowners tend to be much wealthier than you as well.
seems like a retarded statement to me

[Anonymous No.20948894]

>>20948837
I know a lot of rich people and none of them pay rent on primary residences. A few pay marina fees for yachts they live on but that not really the same thing

[Anonymous No.20949100]

>>20948894
I know a ton of rich people that rent. I guess anecdotes are retarded.
Bet you most "wealthy" people do not more than 10% of their net worth in their homes and real estate in general...

[Anonymous No.20949135]

>>20947707
What is asset inflation, retard.

[Anonymous No.20949141]

>>20948894
I know a lot of poor as fuck people who are homeowners

[Comfy No.20949159]

>>20949135
You mean the thing that has a net zero real growth against general inflation? You mean the thing that has been growing above the rate of inflation for years and is thus due for a multi-year deflationary trend to return to a statistical norm? Please tell us more how retarded you are?

[Comfy No.20949181]

>>20949141
This. It is the single largest "investment" for mouth breathing retards too stupid to invest in stocks or businesses and thus stay broke for generations.

[Anonymous No.20949293]

>>20948046
You can refinance your loan you stupid ass. I’m doing it right now. Also the only thing that matters about real estate is location location location so I’m going to be fine because my house is in a great fucking area. Like you all live in shit hole towns compared to me.

[Anonymous No.20949302]

>>20948320
You are retarded and have zero understanding of what caused the 2008 housing crash. Just stop talking.

[Comfy No.20949421]

>>20949293
>im taking out a larger loan to pay the mortgage on my larger loan
Great job, smoothbrain.
>location meme
Yeah all those people leaving coastal cities and major port areas because rural texas is the new location due to health and remote working developments will surely benefit you.

[Comfy No.20949443]

>>20949302
please enlighten all of us, dr.mouthbreather

[Anonymous No.20949471]

>>20949159
Fiat deflates = inflation of prices

You fucking dense mook.

[Comfy No.20949650]

>>20949471
Literally what? When you inflate fiat, the prices of everything goes up because the value of the fiat went down. When you deflate fiat, value goes up and prices go down.
Fucking retarded commies who dont know ecom 101 get off my biz board reee!

[Anonymous No.20949707]

>>20949100
>Primary residence
Retard

[Anonymous No.20949807]

Not gonna happen. There are still so many buyers. Only rent has gone down.

[Comfy No.20949851]

>>20949707
>primary residence as portion of net worth
Under 25% for anyone over $1m and under 10% for the most successful people.
>all the people under $1m net worth are overinvested in homes, with dumber poor people being most invested
>all smart successful people over 1m net worth on average have primary residences worth less than 1/8th their assets.

Please tell me more how all the smart and rich people own real estate as a primary wealth generation tool, or any financial tool at all for that matter

[Comfy No.20949867]

>>20949807
renters are the canaries of the housing coal mine.
By all means, you deserve to get tied to a house. Go for it.

[Comfy No.20949958]

>>20949807
>average ameritard wants to buy a house
>average amerimutt is a low iq mixed race idiot
>average amerifat thinks burgers are part of a well balanced diet

Boy, if the average american wants to buy houses, surely that's the smartest idea!

[Anonymous No.20949984]

>>20949851
The graphic is complete bullshit
If you have 10k you are not invested in real estate at all because you couldn't even own a garage at that point

[Anonymous No.20950033]

>>20947707
>Falling for the real estate meme only a decade after the bubble burst, but at much higher prices!

ya I didn't understand it either. I subtly kek'd every time someone said "passive income" as if it is tenable. I knew retards who got rekt in 2008 and went massively underwater so I couldn't even sell out to break even. Real estate is basically at the whim of legal overhead and the wild swings in a horribly artificially scarce asset.

[Anonymous No.20950072]

>>20949471
what?

[Comfy No.20950156]

>>20949984
>doesn't even read the text in the graphic because retarded or lacks concentration
Yeah, you sound like a homebuyer to me.
>the graphic lumps everyone by log10, which means anyone in the $10k to 99k range are included in that "10k" segment

[Anonymous No.20950169]

>>20947787
How long should one wait now to buy a property?

[Anonymous No.20950220]

>>20950156
>tl;dr
Why not just put properly description at the wealth levels instead of writing that paragraph
Graphic is shit and billionaires are incredibly stupid apperantly wasting so much wealth in bonds, but they dont need it anyways so whatever

[Anonymous No.20950252]

>>20949471
objectively wrong in every way

[Anonymous No.20950294]

>>20949851
do you speak english as a second language? anon literally spelled it out for you
the part of the graph you're looking at it shows primary residences as portion of networth. as in, the first/main house you own
you want to compound that with the blue "real estate" part of the graph. and once you do that, you can see (according to that graph) people with $1M nw still have >33% tied in real estate, $10M nw ~20%, even $100M nw is still at ~10%
"business interests" is also, as mentioned, highly illiquid. you can safely cross that chunk off the graph when you want to look at tangible wealth
i hate the boomer home ponzi as much as any reasonable 30 years old zoomer, but facts are facts. real estate is still highly favored by rich people

[Anonymous No.20950336]

>>20950294
You obviously didn't read what he wrote

[Comfy No.20950421]

>>20950169
As long as possible. Business interests and stocks are statistically your best options to make it. "Liquidity" is a meme, you should be as financially levered as you can get into solid business ideas and high growth stocks. Focus as little as you can on non-essentials like expensive housing or cars. You are only in prime youth for a few short years, but those years allow you to take the highest risks with least likelihood of failure (aka old people issues like needy family, less friends or social life, declining brain capacity, low energy, health complications, etc). There is a reason why most people who start successful companies started by 35.

[Anonymous No.20950447]

>>20950169
If you are trying to buy the absolute bottom? When the general public is terrified that they will be stuck in their house that has become a debt prison (unlikely, given the government is going to print print print). Or when house to income ratios drop to a level of your choosing. Or when the perfect house presents itself to you and it's in your budget. A primary residence is never a good investment, from a technical analysis perspective, because at best you catch a price appreciation wave, every other aspect of home ownership is cost.

[Comfy No.20950614]

>>20950294
Do you even comprehend this thread? You believe an inverse relationship between wealth level and percentage of wealth in real estate assets as a direct relationship? In what world. If real estate and stocks were in fact the smartest investments for wealth, they would be overrepresented in those tiers. They are not.

[Comfy No.20950737]

>>20950614
in fact, the single largest correlation between wealth at all levels was business interests as a percentage of total net worth. This clearly shows that the most statistically successful and consistent way to generate wealth at all levels is direct or participatory entrepreneurship. Not real estate, not cars, not art or bonds. A business as primary driver with significant investment in stocks for diversification of risk.

[Anonymous No.20950819]

You have to be a special kind of retard to buy an asset that is
a) Immobile
b) iliquid
c) overinflated
d) belongs in 90% 50 years to the bank anyway
e) Makes you the pay pig for social programs
f) makes you the prime target of socialists

[Anonymous No.20950858]

>>20950421
>>20950447
How do I deal with throwing away like £10k a year away on rent?

[Comfy No.20950931]

>>20950858
Spend less on rent? Have room mates? Use the savings for stocks and entrepreneurial endeavors. Something like 20%? Of rent can be written off as business expenses. Buying inventory is a tax write off. Eating, driving, electronics, etc all write offs for business. Focus less on worrying about spending, and more on income.

[Comfy No.20950953]

>>20950931
at least in us. In uk you guys are kinda cucked for business afaik. Move to a better country!

[Anonymous No.20951002]

>>20950931
Good advice. But it's now like I have any business ideas

[Comfy No.20951105]

>>20951002
Well start thinking about ideas. Maybe anti-muslim rape vests for women or penis enlargement pumps for muslim rapists? Or maybe a place that actually makes good brutish food?

[Anonymous No.20951112]

>>20950858
Normie answer: buy a house
I personally went with buying a cheap travel trailer, my only expenses are electricity and water. Probably not an great option in the UK given the smaller trailers, mine is about 10 meters long and has shower, kitchen etc. Point being you have to get creative if you want to escape.

[Anonymous No.20951597]

>>20950858

if you want to buy a home, buy something at 2x your annual salary, pay for it with a 15 year mortgage, and make sure that all the additional expenses (repairs, property taxes, insurance, etc.) don't impair your ability to save and invest.

the homeowners that lose out are the ones buying a home 4-5x their salary, paying it off over 30 years, and getting blindsided by expenses (omg, we need a new roof, there goes the 15K that took us forever to save, no we can't invest it).

[Anonymous No.20951637]

>>20947707
God bless the pandemic! Boomers and roasties BTFO!

[Anonymous No.20951766]

I can't believe the maoist commies fucking won, and /biz/ is cheering on them like the little egoistic zoomers they are.
Kill all zoomers.

[Anonymous No.20951901]

>>20951637
peak roastie

[Anonymous No.20952225]

>>20951766
buying peak bubble real estate in the 21st century is unironically a chinese thing to do

[Anonymous No.20952283]

>>20951766
how the fuck is commies for wanting the housing bubble to crash?

[Anonymous No.20952349]

>>20950819
Right I should pay rent which is higher and gets me less autonomy instead.

Fucking retards

[Anonymous No.20952463]

>>20948236
Lol no we don’t. I was studying for the cfa when shit hit the fan. Listening to money podcasts and the biggest and brightest have no idea what’s going on. (They know but all the rules aRe getting thrown out). So I put the books down and said fuck it. Why bother.

[Anonymous No.20952478]

>>20952349
"""""autonomy""""" over freedom
again, an unironically chinese choice, but most bubble buyers don't really think things through, I'm sure you were just doing what you were told.

[Anonymous No.20952564]

>>20949471
Holy fucking based retard