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/biz/ - Business & Finance

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24829346 No.24829346 [Reply] [Original]

>haha at least i OWN a house
>over 100k left on mortgage
>10k in property tax a year

why are homeowners like this?

>> No.24829382

>>24829346
because it's an asset not a liability.
/thread

>> No.24829398

>>24829382
>implying implications

depends on circumstance as usual

>> No.24829400

You buy your first home so you have equity to own your second home and then rent it out to wage slaves like you. Rinse, repeat.

>> No.24829406

>>24829382
>100k in debt
>muh asset

>> No.24829420

It's a good question and I don't know the precise answer, but normies really do fetishize home ownership.

It allows them to touch and be inside something worth a lot more than them, which is interesting I guess.

I also think they aren't aware that only other poor people are impressed by owning a basic home in bumfuck nowhere for non-rental purposes.

Then there's the part where they don't have the balls for stocks, let alone crypto

>> No.24829458

>>24829382


yeah the only liability is your health which im sure will be great over 30 years

Oh not to mention the great influx of refugees that are about to downgrade all the pricing of homes soon.

yeah totally 0% liability, none whats so ever

>> No.24829459

>>24829420
Meanwhile, I've gone from $0 net worth to quarter million net worth in a little over 2 years, while renting a $1700/month apartment.

>> No.24829465

>>24829400
>make 12k a year in rent
>10k goes to the mortgage
>tenant does deadlifts on your hardwood floors
wow is this making it?

>> No.24829470

>>24829406

The debt is a liability and the house is the asset you dumb dummy

>> No.24829481

>>24829459

Atypical luck.

>> No.24829509

>>24829346
I bought my house in 2013 and it doubled in value. I also got a $20000 heloc that i used to buy another 10k LINK after the covid crash.

Stay mad faggot! In 1 month im going to list it for sale and get me around 100k profit. Will then rent until market dips and ill put down on a better house with a large backyard for my future dogs and children. Enjoy your wage box

>> No.24829512

>>24829465

My friends who made it all had their properties appreciate from 40k to 150k. Boomer gains. They also AirBnB every room, India style.

>> No.24829525

>>24829406
debt = wealth. imagine not even having a house.

>> No.24829541

>>24829509

I can barely rent for $1000 without dealing with a bunch of bs in midwest. $1500 is more like it unless you want a total cuckshed.

>> No.24829563

>>24829481
>Atypical luck.
Mostly through a $120/year job (and then $170k/year), which I attribute less to luck than grinding/skill/aspergers.

The luck part came from ETH, but even that felt like a trivial pick. It was insanely undervalued at $100-200 while development and adoption chugged along.

I can at least say I haven't had dumb luck 10-100xing a shitcoin

>> No.24829584 [DELETED] 

>>24829346
>>10k in property tax a year

Do Americans really? Here in Eastern Europe we pay something like 75$ a year :) maybe less like 35$ depending on the location.

Also what's up with all the mortgage kiddies? don't you losers have enough money to buy the house whole?
Or a job which gives you the house+land for free?

>> No.24829609

>>24829541
>I can barely rent for $1000 without dealing with a bunch of bs in midwest
Tech hub workers started targeting properties in places like Iowa/Ohio/rest of the midwest "because the yield is better".

Ya...midwestern wagies are now competing for real estate with literal FAGMAN software engineers making $200-500k.

>> No.24829618

>>24829563

Did you go to FAANG or something, cuck jobs top out at 130k in midwest

>> No.24829623

>>24829584
This thread isnt for 3rd worlders

>> No.24829663

>>24829525
do you have a house or are you just renting one from the bank?

>> No.24829676

>>24829398
>>24829406
>implying
my house is paid off. keep coping rent cucks

>> No.24829705

>>24829406
>100k in debt
>Actually have 140k in equity

>> No.24829719

>100k debt
>inflation
>debt is actually shrinking each year in value even without payments

inflation good

>> No.24829720

>>24829618
>Did you go to FAANG or something, cuck jobs top out at 130k in midwest
I got out of my tutorial zone state at age 18 because I could realize very little opportunity existed there. Absolute cuck jobs, as you mentioned.

Got myself a full remote gig over a year ago at a tier 2-3 company, which is why my pay is $170k instead of 250-300, but it's so damn chill. All of the women and talented engineers are mostly at tier 1. Everyone else is competing for scraps

My pay wasn't always up here though. Started at more like $70k to get 1 year exp, then turned that into 120-130, then 170, which is a fine salary with good investing.

>> No.24829729
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24829729

>>24829382
>because it's an asset not a liability.

>> No.24829745

>>24829705
>my debt is good because it can be sold to another bank

>> No.24829784

>>24829720

I am at cuck top, but its absolutely capped. Need to move. Have you found a good tier 2 list?

I work 10hr days for this cuckold life. Sometimes 12.

>> No.24829810

>>24829720

Also, respect, I am a moron for staying

>> No.24829830
File: 151 KB, 1070x1303, 8304169f58dbab3a.jpg [View same] [iqdb] [saucenao] [google]
24829830

>>24829346
>dude just never own anything
but yes, buying a oversized house and getting into a 200000$+ debt is a retarded

>> No.24829832

>>24829663
kek, anon you have a poor fag mentality. renting one from the bank? well no, there's a lot that's different between renting and owning. a loan is nothing like renting from the bank. my property has acreage that I've been able to log for one thing....

>> No.24829854

>>24829830
*a retarded move

>> No.24829890

>>24829832
how does it feel to have the bank garnish the wages from the hardwork you do for the pleasure of renting the land from them?

>> No.24829900

>>24829810
>Also, respect, I am a moron for staying
Thanks, but I understand people getting trapped there. My parents being an enabler/narcissist combo made it easier for sure

For tier 2-3, look on levels.fyi and non-trendy/non-FAGMAN companies

Salesforce, cisco, intel, adobe, maybe capital one. You can also look for startups recently acquired by a larger company in that tier. Those would be a good combo of younger people/fresher tech and big company resources/chillness.

It'll often be founders who know they're rich as long as the thing just stays alive while they vest. i.e. just keep the thing chugging while they complete the victory lap.

>> No.24829930

>>24829382
It’s only an asset if it makes you money. If you lose money, even though it’s for a place to live, it’s a liability

>> No.24829949

>>24829890
technically youre renting the land from the state and buying the house from the bank w/ monthly payments. youre still a retarded gorilla nigger tho

>> No.24829954

>>24829406
my house is paid off, property taxes is 3k a year, my property is generating 21k per year off tenants.

What asset do you have that's bringing you in 21k a year or more, anon? Just for existing?

>> No.24829997

>>24829890
borrowing money does not equal renting. imagine living somewhere and actually renting for 10 years..... when you move you have nothing to show for it. that particular property I referenced above....sold it this summer. so after "renting" from the bank for 7 year, I walk away net positive....having gotten back more money than I put into it. stay poor faggot.

>> No.24830009

>>24829784
>I work 10hr days for this cuckold life. Sometimes 12.
Another tip I would say is to work for a place that is already printing money. Nobody on my team is pulling those kinds of days, because we maintain a money printer

More like 2-4 hours and you'll be paid better for it. Effort is barely correlated to pay in SWE.

SRE is a neat niche and modern tooling makes it easier.

Lastly, having a network of people that are also in it for the money and like you helps. I have half the managers and several individuals in my network at this company, so we have some group influence. It's probably rare to pull off what we have, but keep an eye out for opportunity

>> No.24830025

>>24829465
You don't think cashflowing 2 grand a year while having a rentoid PAY FOR THE ASSET is a good deal?

>> No.24830038

>>24830025
>You don't think cashflowing 2 grand a year while having a rentoid PAY FOR THE ASSET is a good deal?
Not when ETH was under $200

>> No.24830079

>>24829900

I am in my early 30s =/

Got a useless math/stats degree at cuckam university while working half-time and convinced myself I was too poor to move. Lost years going CFA/analyst route. Finally got into IT at like 26. At least 15% raises every year only to make what FAGMANs make out of college.

Oh well, I guess that's life. Ty a ton for advice

>> No.24830097

>>24829346
Because I bought a house I could afford, 80k left on mortgage and tax bill is 3k.

>> No.24830100

>>24829745
Yeah you can buy and sell mortgages. You can even buy and sell options for them as well.

If you buy a property that has 2k property tax and 10k mortgage but has 14k in cashflow then thats good debt since the debt is getting you an extra 2k

>> No.24830111

>>24830009

Thanks fren

>> No.24830118

You know why having a house is great? I can walk around my yard drunk and naked, i can fuck my wife wherever i want loudly, i got a sick security system and bunker full of funds, AND I DON'T NEED TO SEE ANY MINORITIES

>> No.24830171

>>24829458
I love these real estate flame war threads. Never been into home ownership either, but the $1k per month to the landlord is getting old. It's the last major expense that I need to cut in my years-long journey to financial independence. At least with home-ownership, that $1k expense per month becomes an investment, albeit one that performs poorly compared to stocks and crypto. Living somewhere is an expense that you can't avoid unless you go extreme and live out of a van, so you might as well flip it into an investment.

>> No.24830183
File: 317 KB, 1080x2400, Screenshot_20201215-135158_Robinhood.jpg [View same] [iqdb] [saucenao] [google]
24830183

>buying properties
>not options

ngmi

>> No.24830205

>>24830171
>1k per month into landlord is getting old
>lock yourself in for 30 year mortgage instead

>> No.24830218

>>24829458
>great influx of refugees that are about to downgrade all the pricing of homes

definately

>> No.24830233
File: 182 KB, 866x635, 1607458315295.png [View same] [iqdb] [saucenao] [google]
24830233

These threads are made and shitposted in by landlords trying to find some poor sucker to pay their mortgage for them.

>> No.24830240

>>24830171
this is exactly it. you're going to be paying for housing either way. with that understanding...it makes sense to be making payments on your own house, assuming you've found somewhere that you actually want to live for more than a few years.

>> No.24830269

>>24830205
you really do have a poor fag mentality anon. ngmi, even if you get lucky and your shitcoin moons. managing money isn't something you're built for it seems.

>> No.24830291

>>24830205
you can buy and sell mortgages. You don't get locked into anything unless you make really shitty buys but then that's on you for being retarded

>> No.24830448

>>24829997
>when you move you have nothing to show for it
>so after "renting" from the bank for 7 year, I walk away net positive....having gotten back more money than I put into it. stay poor faggot.
That's not how it works, you're supposed to compare at ISO-housing. Out of 1000$ you put each month for not sleeping in the street, whether renting to boomer or paying a mortgage to your bank, you don't get access to the same "prestation" for your 1000 bucks between renting or owning. The flat I rent in the capital city I live in costs me 800 bucks. If I want to buy it out, i.e the exact same flat, it would cost me 1500 bucks/months for 20 years. One is for all my life, the other is for 20 years, that much is true. But if I leave after 7 years like you did, I didn't leave with nothing. I left with (1500-800) *12 *7 saved over buying. Though you have to take into account that your property also gains value over time, true.
Other than that, what I save each month over buying is money that is going in the stocks market, and is hosting me through valuation increase and fat divies. I'm at a point where my divies alone are paying me 5 months of rent. I could increase it to 8 months, but I'm at a point where I'd rather not put more into divies as it's not the most efficient way of investing. My stock portfolio is my housing. Free of property tax, moving tax, bank interest, and free of hassle. When a fucking nigger invest the neighbor flat, or of said flat is transformed into a fucking airbnb by its boomers owner, or if the block or city goes to shit, or when I get a better job and decide to move closer to my workplace (happened 3 times already), I'm fucking glad I'm renting AND have my portfolio housing me.

>> No.24830485

>>24830205
How old are you? The trick now is to lock in a low fixed rate mortgage. 2.5% mortgage with say 5% annual inflation now (underestimate) is a real negative interest loan. It's as close to free money as you'll ever get. And the other trick is you have enough assets to pay off your mortgage at once if you ever felt like it.

>> No.24830599

>>24829346
In the coming hyperinflation that 100k will become peanuts.

>> No.24830601

As a side note, I dont think people are making money on rent without AirBnBing individual rooms.

>> No.24830618

>>24830291
>50k cash
>no debt
>put 50k down on 250k mortgage
>wow i have 200k now!
this doesn't sound like bullshit to you?

>> No.24830676

>>24830291
>you can buy and sell debt contracts anon are you retarded? i'm rich with all of this debt!
bunch of geniuses itt

>> No.24830772

>>24829346
10k in property tax? Do they own a million doller house? Anyone who owns a million doller house with only 100k left on the payment is in a good spot

>> No.24830782

>>24829470
>>24829382
It's both and asset and a liability.
Being liable for property taxes and maintenance is a liability.

>> No.24830784

>>24830618

Nobody thinks this way. There are just a bunch of machinations like refinancing that you can mess with in that situation

>> No.24830821

>>24830485
>the trick is to get the shy to float you cash on a 2.5% vig and then you float your debt to another mark on a 3.5% vig its free money anon

>> No.24830861

>>24830784
its literally the logic everyone is spouting itt

>> No.24830919

>>24830079
>Oh well, I guess that's life. Ty a ton for advice
You're welcome. I will ALWAYS give advice to a midwestern dude trying to make it, as nobody is looking out for midwesterners.

Elites think all white (males) are advantaged af, when that's clearly not the case. Unfortunately black people and women are the current pet projects, not low socioeconomic people

>> No.24830925

>>24830448
obviously whether or not renting vs buying makes sense will depend on the market you are in... but I don't think your situation is normal anon. my mortgage payments were less than anything comparable on the rental market....as one would expect in most markets. boomers aren't usually renting property for less then their own monthly payments...and hardly anyone owns outright anymore, do they?

>> No.24830941

>>24830772
There's a lot of locations in the USA (mostly "desirable" urban areas) where property taxes for houses are high as fuck. Think 10-20K a year on a 200-400K$ house.

>> No.24830970

>>24830601
yeah, I'll never rent out property again. you're just trying to break even and hope that your tenants don't wreck shit while they're in there. it's def not for me.

>> No.24831050

>>24830970
>hope that your tenants don't wreck shit while they're in there
Ya I dig stocks way more because of this

A tenant wrecking all of your stuff is like being invested in a company where 2/3 of the revenue is fake (Luckin Coffee). That's honestly pretty rare, but not THAT rare in real estate

>> No.24831071

>>24830676
bro, you're really struggling with a fairly basic concept....not all debt is bad, there is such a thing as good debt, and good debt = wealth. if you're doing it right you are literally borrowing money to gain equity in an appreciating asset. to put this into shitcoiner terms...imagine someone lending $100k to buy bitcoin last year at $3k. yes, you have debt... good debt. and in the end would have been an investment that paid for itself. understand?

>> No.24831106

>>24829346
>>10k in property tax a year
???????????????????????????

>> No.24831110
File: 250 KB, 645x424, Eo-wtEeXcAEGjvH.png [View same] [iqdb] [saucenao] [google]
24831110

>>24830970
>>24831050

>> No.24831170

>>24831071
>owing money = having money

>> No.24831212

>>24831170
are you legit retarded? leveraging money = having money that makes you more money. stay poor

>> No.24831239

>>24831170

Almost all rich people, with the exception of some really lucky ones, got rich by racking up debt that produced more income in order to accelerate their growth. You don't get rich by hiding in a hole and hoarding cash.

>> No.24831241

>>24831212
>i'm rich look at all of this money people lent me

>> No.24831321

>>24831212
>>24831239
im just kidding guys just picking your brains so I should buy a house?

>> No.24831363

>>24831241
now you get it.
>all I put down is 10-20%...and now look at all this money people lent me
literally 10x'ing your immediate cashflow. so long as what you end up doing with it makes you more money back then you owe in interest....you win.

>> No.24831626

>>24831363
i get it i wish there was another way...doesn't it all seem like bullshit? owing anyone money makes me fucking sick, it took me 10 years to pay off my student debt now that i'm free i never want to owe anything again

>> No.24831937

>>24829346
>a $200k mortgage with a fixed payment and payment term?
>heh stupid debtslaves
>*chooses to make indefinite inflation-indexed rent payments to shekelstein property group which also pays property taxes, landlord profit margin, and building upkeep*

>> No.24831979

>>24829346
Because I am not a mutt and have a) not a cent of "mortgage" to pay, because I paid my house day 1 completely, 2) have a ridiculous tax af a few hundred Euros to pay each year. House bought 56 years ago, increased 40% in value since then. Kek.
t."Youropoor"

>> No.24831984

>>24829512
Do people that airbnb pay for a cleaning service after each time someone leaves, or what?

>> No.24831996

>>24831937
this is the post that has made most sense to me so far ty

>> No.24832002

Fugg.... meant 6 years ago... :D:D:D

>> No.24832032

>>24831996

rent smooths randomness but ya

>> No.24832069

>>24829458
>influx of refugees that are about to downgrade all the pricing of homes
Big brain comment right there.

>> No.24832106

>>24832032
also market-regulated rent, my landlord cannot raise it more than 1% year to year for example....also only 1 year commitment vs 30 year

>> No.24832121

>>24831984

Some do, my friend and his wife who live in a $800,000 house clean their AirBnBs themselves. The biggest advantage to him being in RE, I think, is that he knows how to get deals. He picked up his house at 400k when markeylt was 650. Its 800 now. The only reason he got a mortgage for that is because he leveraged his other properties.

>> No.24832133

>>24832106
>also market-regulated rent, my landlord cannot raise it more than 1% year to year for example
Lol with inflation this is ridiculously low. What places do this?

>> No.24832237

>>24832133
new york city probably other large cities as well. not even based on salary either its just certain units fall under this law

>> No.24832286
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24832286

>>24832133
>>24832237
Don't landlords try to screw their tenants over in random ways to get them kicked out or make them want to leave by doing weird shit and basically breaking into their apartments so they can jack up rates and shit like that?

>> No.24832354

>>24832286
yeah if you have a shitty slumlord they pull shit like that, luckily this isn't the case for my building but in another building i lived in there was a "tenant association" of longtime activist types who pay like $200/mo who would make all sort of claims like the ones you're describing....the thing is both parties involved are sheisty and annoying as fuck so you don't know if they're being legitimate or not....think decaying 60s activist types

>> No.24832380

>>24832286
also look at the last names on that list and that's all you need to know

>> No.24832417

>>24832286
Never been my experience, but I haven't lived in slum housing.

I assume landlords have some basic awareness of the income and time their tenants have. I can literally "work" from the courthouse while autistically pursuing justice, so there isn't really expected value from fucking with me

>> No.24832486

>>24829346
I pay 550 a year in property taxes for a 315k house in nevada. what did you mean by this?

>> No.24832583

>>24832486
desirable counties in the northeast within commuting distance of large cities (the only places you can find a job) with good school districts you can expect to pay 10-20k a year in property tax

>> No.24832636

>>24829346
Because they are cucks. Renting from Jews is so much more based

>> No.24832682

>>24831979
yeah see this makes much more sense to me

>> No.24832736

>>24829382
>>24829930
>>24829406
You nignogs have clearly no clue what you are talking about. Go learn how to read a fucking balance sheet instead of repeating these 2 fucking words that you have no clue how to use.
The house is an asset (including accumulated depreciation)
The mortgage is a longterm liability & the taxes are a current liability

>> No.24832764

>>24832354
>>24832417
I've heard about this happening in the city because the value went up so much and they could only raise rent by tiny percentages and were losing out on so much potential money by having tenants that never left.

>> No.24832767

>>24830038
Real estate is one of the best long term assets that generate cash flow and appreciates. Anybody with millions of dollars has multiple cash flow producing properties. It is an essential part of any portfolio. Diversity of assets is extremely important to protect your wealth. You are a retarded nigger brainlet

>> No.24832780

>>24829346
The rates on mortgages are lower than the rates you get lending stablecoins. It's free money.

>> No.24832786

>>24832380
Yeah I know, I'm basically weighing a mortgage vs getting jewed over.

>> No.24832795

>>24829705
>100k in debt
>ends up paying another 100k in interest

>> No.24832832

>>24832583
That tax makes it undesireable

>> No.24832837

>>24830218
Niggers increase property value overall. They may make some neighbourhoods decrease but the wealthy neighbourhoods sky rocket in value as the demand goes up insanely high as everybody wants to get away from them and there is less housing. Supply and demand. There is a reason pricing has just kept increasing

>> No.24832874

>>24832832
you would think, but it beats paying the black tax which is basically what all of it is actually about

>> No.24832893

>>24829346
Cope all you want but don't forget to give your rent to Mr Goldstein this month!

>> No.24832934

>>24832736
based underrated accounting 101 post

>> No.24832979

>>24831071
And when your make believe coin shoots down from $3k to $1k, you take out another loan to purchase the necessary tools to kill yourself after making such a retarded decision

>> No.24833004

>>24829954
21k a year? isn't the average return rate for renting out property under 5% in most cases? can you explain the details of your situation, because it seems unusual and in most cases a good stock with dividends is a better than property in a western country investment in 2020

>> No.24833222

>>24832934
sentinel is the coin you wish you had but you were too lazy to buy

>> No.24833361
File: 27 KB, 396x385, 1558301150407.jpg [View same] [iqdb] [saucenao] [google]
24833361

>>24829346
>tfw own (no loans) a house at 25

>> No.24833491

>>24829729
>thinking about things in financial terms is Jewish
Uh yeah I guess that's true these days

>> No.24833599

>>24832583
>>24832874
This guy knows.

>> No.24833624

>>24829346
>homeowners
don't you mean homeloaners?

>> No.24833699

>>24832767
>Anybody with millions of dollars has multiple cash flow producing properties
Ah I somehow missed that we're addressing a group of millionaires here?

In all seriousness, show me how consistently a piece of real estate bought for $40k in 2018 did vs ethereum.

I could have done one investment (not both), so I had to pick. I'm eyeing real estate as my next move, not my first one.

>> No.24833773

>>24833699
I'm also just simply more interested in crypto, at least for now.

Every retard with a down payment and some elbow grease can get into real estate. i.e. competition. It takes at least marginally more thinking to recongize crypto as undervalued

>> No.24833830

>>24829465
no, it's not making it. it's protecting it. own nothing, control everything.

>> No.24834062

>>24829382

It’s only an asset if paid off, which you haven’t. In that case, it’s an asset to the bank.

/thread

>> No.24834073

>>24832764
yeah that's basically it and they can get out from under the rent stabilization laws by renovating the apartment or something

>> No.24834125

>>24834073
Yeah there are exploits but the easiest way is getting them to leave because while you can't raise the rent much on the tenants but if the tenants get kicked out they can raise it to whatever they want.

>> No.24834159

>>24829346
also just wanted to point out someone paid $264k for this shitbox lmao this shit is so fake

>> No.24834190

>>24834062
The paid off portion of the home is an asset. You say that like it's all or nothing.

>> No.24834278

>>24834190
unless the value tanks and you owe more than its worth many such cases

>> No.24834322

>>24830941
Fuckkin where. Show me the evidence. Nowhere in America has higher than 3%

>> No.24834473

>>24834322
Westchester County in NY for one, 3% is a lot when even mediocre houses are expensive as fuck

>The average property tax bill in the county in 2017 was $17,178, with an effective property tax rate of 2.39%

>> No.24834606

"equity"
>le happy simp

>> No.24834702

>>24834473
Bro thats at least a $700,000 house. If property is too expensive just move

>> No.24834738

>>24834190
The entire home is an asset, which is balanced by equity (what you have paid off relative to appraised value) + liability (whatever you still owe on the mortgage)

>> No.24834743

>>24834702
there are like 7 areas in this country with actual job prospects, even less depending on your career, even less that aren't complete and utter ghetto hellholes - if it were that simple no one would be paying that much but here we are

>> No.24835568

>>24829346
less than 30k left. 2k taxes and no neighbors. not to bad for rural NY taxes.

>> No.24835648

>>24829346
>>10k in property tax a year
Where the fuck u live? I'm in cali and i only paid $560ish this year

>> No.24835678

Why the fuck would you not take advantage of the lowest interest rates of all time? If you've got any financial acumen you should be borrowing as much as you can right now. Being scared of debt or thinking it's bad is such a poorfag mentality.

t. own two properties, using zero of my own money. Few hundred bucks a month in my pocket and other people paying for my houses

>> No.24836517

>>24832832

nope. it keeps out the riff raff. best places to live.

>> No.24836605

>>24829458
>not to mention the great influx of refugees that are about to downgrade all the pricing of homes soon.
Why would more people REDUCE the value of all real estate? Have you never heard the saying that land is valuable because they aren't making any more.

>> No.24837475

>>24835678
>Why the fuck would you not take advantage of the lowest interest rates of all time
Because it's inconsequential. Each time the interest gets lower, the prices rise accordingly. The only thing you're achieving by taking advantage of low interest rate is to be a slave to your bank for longer. Boomers had it all, I miss the times where interests were like 6%, but you could pay off everything in 10 years due to low housing prices, plus inflation making it so you payed up in monkey currency, instead of chaining yourself to the bank eating low tier pasta for 20+ years. Plus, contracting in an environment with such a high interest rate, when it gets lower, you can renegotiate your mortgage over the years. What are you gonna renegotiate now, when it's at 0? Because surely you won't be able to go back to the ex-owner of your house and renegociate the price, that's for sure. The only way to get away with it is to believe inflation comes back. It won't. The world is going full Japan. And it didn't end up well for housing.