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25508377 No.25508377 [Reply] [Original]

it seems that people without a top tier job or family to help with a down payment will be rentserfs for life. even if you put away money into stocks, which is made harder by the fact that a substantial portion of your income is eaten by rent, you'll be lucky to get 1-2k in passive income after decades of saving. and rent by then will be even worse. it really seems that rentserfs are financially fucked.

>> No.25508535

>>25508377
Yes, thanks to immigration real estate will 10x over our lifetime. That house will be $30 mill some day, while wages stagnate at 100k per year with 50x the competition. Hard times are ahead.

>> No.25508634

>>25508535
Homes will go up in US Dollars, but as the dollar collapses, homes will go down hard in gold/silver/bitcoin

>> No.25508696

>>25508377
Why does that look like a home in Vancouver where the Chinese are parking money?

>> No.25508711

>>25508535
what portion of the population do you think is fucked? i'm interested in particular because i think at some threshold it could cause political change. but if only 10-15% of the population is fucked, i don't think much will really change. if you think about 70% of americans/canadians own their home, so 70% of the population will get some inheritance to move up. then you have the added immigrant population that doesn't care about real estate prices, they just want to escape their home country. so i think at most you'll have 20% of the population that is fucked.

>> No.25508857

>>25508696
because it's a screencap I made of vancouver listings
normally that house would only be 2 million, but because it's on a busy street the zoning allows for a 6 story building

>> No.25508895

>>25508377
>I HAVE TO live in a big modern house with a big yard just outside one of the biggest cities in the world
retards like you is exactly why those houses are overpriced.
>>25508535
>more people = more expensive houses
Imagine how fucking retarded you have to be to actually believe this. Literally 2 minutes on google proves you factually wrong

>> No.25508998

>>25508857
I knew it lmao. That house style is so common up here in Canada lmao

>> No.25509071

>>25508895
>I HAVE TO live in a big modern house with a big yard just outside one of the biggest cities in the world
i just used the pic as a the most blatant example of the problem. the truth is anywhere with any sort of jobs, even minimum wage, is experiencing extreme growth. even middle of nowhere towns with like 10k people

>> No.25509112

I'm 25 and make 90k, you guys just suck lol.

>> No.25509142

>>25509071
also that line of thinking is a slippery slope. next thing you know
>I HAVE TO share my pod with ONLY FIVE pajeets, on the outskirts of Alaska. get a load of the entitlement on this guy

>> No.25509224 [DELETED] 

>>25509112
90k doesn't get you anything here. many boomers actually think 100k is a pathetic wage, i've even heard one say "100k gives you the buying power of a minimum wage couple"

>> No.25509281

>>25509112
90k/yr in the bay area is literally below the poverty line.

>> No.25509503
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25509503

>>25508377
You might have to get in now before you get priced out.
For reference we're about as far away from the position the 2008 subprime lending crisis was at as possible based on real price (i.e. adjusted for both inflation and interest).
The greater USD inflation rate gets the more houses increase in market value.
And the lower interest rates get the less mortgage payments actually cost in real value terms.
We're at a point where inflation is really below the locked in 30 year interest rate you can close on for a new house, which is another way of saying the debt you owe on a mortgage taken out today will be eaten away by inflation faster than interest can accrue to offset that eating away.
To give an extreme example for illustration purposes if inflation was such that a loaf of bread were $200,000 and your mortgage from before the US became Zimbabwe was also for $200,000 then you can now pay off your mortgage with nearly no cost to you. Your lender takes the hit on inflation instead.
Meanwhile if you have all your wealth in US Dollars and don't take out a mortgage you're left with no assets and your savings are wiped out.
Any time massive inflation is in play is a good time to have real assets and (low interest) debt because both benefit from inflation while cash holdings suffer from it.

>> No.25509517

>>25509071
>>25509142
I can't believe I have to actually explain this to you but if a house sells for a price it means someone actually bought it for that price. It's literally mathematically impossible that 90% of homes can only be afforded by 10% of people.
I spend literally 1 minute on google and found 2500 homes for sale for under 500k JUST IN VANCOUVER

>> No.25509524

>>25508711
>then you have the added immigrant population that doesn't care about real estate prices, they just want to escape their home country.
believe me they care and any successful ones are going looking elsewhere to live
Any sane immigrants can see the writing on the wall with your demographics composition. Ironically its only Americans who are blind to it. Anyways glhf burgers.

>> No.25509767

>>25509524
successful ones will be able to afford the insane prices. also, there's nowhere else to look to. everywhere that isn't a shithole is experiencing these stratospheric housing prices. fuck, even some shithole countries are. it's baked into the financial system. but yeah, most pajeets/mexicans don't care if they have to share an apartment with 4 other dudes and will never own their own home. they're just glad to be in a first world country. also they might have property back home which they will bail to later in their life.

>> No.25510003

>>25509767
see >>25509517
You're obviously just a spoiled/failed nu-male faggot who can't take responsibility for anything. Everything is always somebody else's fault.

>> No.25510065

>>25510003
youre jewish

>> No.25510086

>>25508377
It's going to crash harder than 07/08 once these foreclosures/loan defaults go through. It might lag behind by a year or 2, but boomers will eventually start realizing they aren't actually entitled to 10000% gains just because they were able to buy a house with 2 years worth of wages

>> No.25510178
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25510178

>>25510065
I guess I won the argument

>> No.25510194

>>25509503
Under those circumstances, would it be better to get an FHA loan then for first time home buyers that don't have 20% accumulated yet?

>> No.25511127

>>25510178
thanks for the mentally stimulating discourse mr shapiro

>> No.25511174

>>25508535
>immigration
>not the government buying trillions in MBS

Brainlet.

>> No.25511177

>>25509112

kek how do you even afford rent? unless you live in a literal shyteholee

>> No.25511416
File: 694 KB, 700x538, 15644218406922935562189897074750.png [View same] [iqdb] [saucenao] [google]
25511416

>>25509517
>It's literally mathematically impossible that 90% of homes can only be afforded by 10% of people.
It's actually possible if you factor in time. Many people bought houses 20-40 years ago and if they were in the same situation/age again would not be able to afford said house.

The housing market prices house marginally with only a low percentage of houses changing hands each given year (maybe 3%?) So it is very well possible that for a certain time window large parts of the population can be priced out of the market.

>> No.25511592

>>25509767
>successful ones will be able to afford the insane prices
you might be cattle but they aren’t
everyone else can see you guys are getting fucked now

>> No.25511666

>>25509112
It’s not about how much you make
But about how much you save

>> No.25511834

>>25511416
>It's actually possible if you factor in time.
Time is not a factor retard. Imagine being on /biz/ and gambling with your lunch money and you can't even do high school math. Jesus

>10,000 houses for sale
>only 10% can be afforded by normal people
>9000 houses remain on sale forever and the price doesn't even drop 1$
LOL
O
L

>> No.25512029

Engineer in Paris Can only afford 9 square meter in 1850 outdated building and share WC with neighbour.

>> No.25512135

If I make it I’m not going to bother getting a house. A small rv, fuck staying in one place and the property taxes and other bullshit.

>> No.25512178

for as long as boomers are alive and also in power, you will never again see the housing market drop
they have all of their assets in real estate, they literally cannot afford to let the value of those homes drop. And if that means they force the youngest generations to eat the cost and thank them for the opportunity even long after they're dead, you can be damned sure they're going to do it.

>> No.25512333

>>25512178
So what year logically will all boomers die?
If they have an expected live of 100 years

>> No.25512348
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25512348

>>25512178
So it is our generation that will be ragpulled like those who bought houses in 1880 or so?

>> No.25512384

>>25508535
Immigration is a factor, but everyone is having kids that need homes too.

>> No.25512427

>>25512348
Only if US Dollars are placed back on the gold standard which wouldn't work at all for the size the world economy has grown to.

>> No.25512475

>>25508377
It's MUCH worse when you remember property taxes exist and are highest in coastal high-home-price areas.

>3.2m house
>1.7% property tax annually
>$4,500 "property tax" per month
>essentially 4.5k rent forever to the government AFTER handing over 3mil

>> No.25512570

>>25512475

a basic house is just about 1 million in my city of Toronto

property tax would cost about $1200 a month, So I rent a condo instead for $1300 and never worry about any bills or repairs

Sure I miss out on home appreciation but I foresee a correction happening soon

>> No.25512590

>>25509517
>It's literally mathematically impossible that 90% of homes can only be afforded by 10% of people
Yes it is, simply increasw the buyer list with banks and foreigners who won't live in the home. Houses are an investment even if you lose money, because the CCP can't seize a western house from their citizens like they can seize everything else. It can and will get to the point that only 10% of US residents can afford a US home.

>> No.25512591

>>25512333
Even if they all die the institutions they created will continue living.
You would need baby boomers to die, foreign buyers to no longer be able to purchase without being residents, investors to no longer buy, home flippers to no longer buy, landlords to no longer buy, etc before houses stop being massively appreciating assets.
And even if you could get all that would you really want to? You'd get to buy a house at the cost of it being another depreciating asset like a car. If anything happens to it that isn't covered by insurance or if you ever decide you want to move later on you'd be screwed.
Better just to get in on the action and enjoy the free money.

>> No.25512628

>>25512475
don't worry complete open borders will help solve this problem!

>> No.25512720

>>25512590
Ok buddy, go around your neighbourhood and knock on doors, by your retarded logic only 1 in 10 will contain people. Report back in 30 minutes.

>> No.25512722

>>25512591
No. You would need credit to contract. So the federal reserve stop adding money to bank reserves and buying debts.

>> No.25512734

>>25511834
No, 10% buy the 10,000 houses and rent them out.

>> No.25512814

>>25512720
Never been to Boston have you?

>> No.25512832

>>25512384
Without immigration western populations would have started to decline in absolute terms since the 90s

>> No.25512891
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25512891

>>25508535
>Immigration
>not the world monetary base growing like Zimbabwe after 2008

>> No.25512955

>>25512891
Immigratins pump 10x kids per wife
10x wifes and 100 kids per family..
all of those kids work and they put in money together and buy out houses and rent them to white cucks

muslism expert here.

>> No.25512963

>>25512734
>rent = cost of ownership + profit
>90% of people can afford cost of ownership but all of them sublet instead
HAHAHAHAHAHAHHAHAAHAAHAAHAHAHAHHAHAHAHAHAHAHAAHHAHAHAAHAHAHAHAHAHAHAH

>>25512814
if you are seriously implying that 90% of homes in the entire boston area are empty then this is done. You're just too retarded.

>> No.25513028

>>25512963
Are you a child? Incapable of understanding that a trend can warn of something happening before it happens. Home ownership is down 20% from 1995. That will continue.

>> No.25513073

>>25512832
That's a good thing, we're full. Declining birth rates leads to a generation with consolidated inheritance and larger land availability, which leads to a growing birth rate.

>> No.25513167

>>25509517
but they can't actually afford that price, they are assuming their paycheck will be stable for 30 years to pay the artificially low interest on the loan and the expenses of the house

>> No.25513237

>>25509524
>>25511592

Cringe and envypilled

>> No.25513250

>>25512891
what caused this monetary base increase?

>> No.25513296

>>25513028
>people move to the city where renting is more common means were trending towards a literal mathematical impossibility
you get one more chance to actually write an intelligent post, otherwise I'm done

>>25513167
So now people CAN afford houses all of a sudden? Just some of them will have to move if they lose their jobs.

>> No.25513453

>>25513296
And you have instruments like FHA loans which are bringing poor people into the market as homeowners who are not financially responsible enough to save 20%

>> No.25513587

>>25513453
Again, you're saying that people, even poor people CAN buy their own house.
I suggest you practice your reading skills. You're trying to argue against something I haven't said.

>> No.25513622

>>25508377
Move to Appalachia

>> No.25513639

>>25508895
more people means more expensive houses
YOU are fucking retarded

>> No.25513764

>>25513587
You're saying they can buy the house but
I'm saying they can't afford the house

>> No.25513854

>>25513639
http://letmegooglethat.com/?q=average+house+price+india+vs+switzerland

>>25513764
Yes?

>> No.25514219

>>25513250
Boomers paying everything with inflation after 2008, why do you think clown world started?

>> No.25514344
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25514344

Reminder that even if real estate will go up, crypto will go up more.

It's literally more profitable to keep renting and just put everything into crypto

>> No.25514358

>>25508711
50%

>> No.25514494
File: 1.43 MB, 1231x897, tulsa.png [View same] [iqdb] [saucenao] [google]
25514494

>>25508377
just move to Tulsa bro. or do you need the HUSTLE AND BUSTLE?

>> No.25514506

Houses are not really that expensive. Biz shits on home ownership but the benefits of owning outweight the cons. After a certain income level there are diminishing returns on owning a home (over a certain price point )but I doubt most of biz will ever see that income level because it's around 400k. The fact that you can write off your interest from your MAGI makes it a no brainier for non poor fags

>> No.25514939

>>25512955
population grew more in the 20th century and until bretton woods ended there was no real estate bubble.

>> No.25515013

find me a decent paying Electrical Engineering/Communications & Signal Processing Engineering job in Appalachia that isn't being a lineman or technician, and I'll move in a heartbeat

>> No.25515145
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25515145

>that's a $3.2m piece of real estate in Burgerstan

>> No.25515311

end of january is when evictions/foreclosures "restart" again. no one exactly knows how bad it's gonna be, but prices will decrease by some percentage, varying by localities obviously. there are simply too many people with less savings, less income, and fewer employed people than previously. no amount of investment firms, reits, or chinks can "save" property values, even if that was somethingw orth saving. no big players care about random suburbs that cant be demolished and replaced with a high rise condo tower.

im a bit biased as a vegasfag since we're gonna very likely be hit the worst, but im not incorrect. the only thing up in the air is whether housing will dip or crater.

>> No.25515343

>>25515145
Its in canadia dumb europoor

>> No.25515398

>>25515343
that's even worse

>> No.25515575

>>25509503
Inflation doesn't work like that nor does magically paying off houses

>> No.25515745

>>25515145
You are pretty stupid. Probably European? We need flags.

>> No.25515838

>>25508895
Don't be stupid, even the houses in Bumfuck, Nebraska have 2x'd. It's a function of the money supply, not basedboys.

>> No.25516335
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25516335

>>25515745
>haha what a dumb Europoor not wanting to spend $3m on a shitty one-story house in the middle of fucking nowhere

>> No.25516439

>>25515838
>It's a function of the money supply
I.E. people have nominally more money and can pay nominally more for a house. People are still buying houses. There's not 30% homelessness in nebraska.
Thanks for proving my point.

>> No.25516767

>>25514506
>Houses are not really that expensive

How old are you?

>> No.25516824

>>25508377
Join the military. Then you can get a VA loan with zero money down.

>> No.25517088

>>25512963
you are low IQ. shut up and listen more, you absolute faggot.

>> No.25517476

>>25517088
see >>25510178

>> No.25517888

>>25509503
Fixed and Variable interest rates offered by a bank takes into account of IRR and inflation.

>> No.25518134

>>25512722
This. Mortgages are sold as MBS more than 2008.

>> No.25518262

>>25514344
>It's literally more profitable to keep renting and just put everything into crypto
Golden. But good luck convincing your wife dumping that 20% house payment into BTC.

>> No.25518326

>>25508377
The cheat code is to get a work from home job in a major city then move to a low COL area.

>> No.25518375

>>25514494
And how are you going to achieve anything in the middle of nowhere? It's cheap for a reason.

>> No.25518419

>>25518326
>get a work from home job in a major city then move to a low COL area
Geo-arbitrage they call it.

>> No.25518549

>>25516439
Supply and demand is not the main driver of RE anymore. Monetary debasement makes hard assets like RE/Gold/BTC explode.

>> No.25518740

>>25517888
>Fixed and Variable interest rates offered by a bank takes into account of IRR and inflation.
Interest rates are down to 2% to 3% range because the Federal Reserve has no choice in order to continue functioning. Actual inflation is definitely increasing faster than 2%.

>> No.25518802

>>25516335
>a shitty one-story house in the middle of fucking nowhere

Its zoned for redevelopment. the property is worth $CAD 3m, the house is worth $0.

>> No.25518861

>>25518740
our inflation index in Canada (CPI) says there's very little inflation happening

>> No.25519124

>>25518375
>achieve anything
lol what do you mean?

>> No.25519257

>>25508377
in the US it's because politicians of both parties sold us out to the Chinese. I work for a firm that does real estate law work in the PNW, CA, AZ, NV, and TX, and if you only knew how much of the properties in these states were owned by the Chinese.
You can't compete with them because they buy in all cash and you're rolling in with MAYBE a 50k down d and a 30 year mortgage. They then turn around and rent to you, AirBnB it, or sell it to you at a huge markup.

>> No.25519961

>>25508377
Honestly if you've looked at the stratified data on this, there are two main points.

1) Houses in the 150-300k range have seen dramatic inflation, yes this is generally true. For most IQ-lets and the citizenry at large, 300 or 400k house is as good as it will ever potentially get. This means that a lot of what you hear in the news about inflated pricing is based on the prototypical consoomer, and thus reflects a bad situation for them.

2) High-priced homes (800k+) have come DOWN in value. There is actually not enough demand at this price point to drive the prices. Look at anything in the 900k to 1.1M range on zillow (in a non-retarded area). Everything around me is showing 25k price cuts, and has been on the market for 100+ days. The average retard is too stupid to handle his money in any sort of meaningful way, so this is unachievable for the average citizen.

Point is this - If you make a take home of greater than ~100k a year (I for exmple, take home 72 right now, and rising rapidly for the next 2-4 years), save your money, and invest, by the time you're ~35 or 40, and looking at somewhere longterm to raise kids, then you're going to be able to generally afford a 700-900k house. I'm 25, with a NW of about 125 (liquid), and by my estimates I could afford about a 1.3MM house upon retiring from my career (military) at about 42.

>> No.25520084

>>25518861
I've seen enough /canada is collapsing/ threads to question that.

>> No.25520242
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25520242

>>25509517
Dont you get it? They pay rent to landlords who buy up all the properties. Already seeing it in suburbia. Half the houses are inhabited by renter beaners who dont mow the lawn or power wash their siding. This is the new America. Import shitskins, get them on the rent plantation, and indoctrinate them into the comsoomer system

>> No.25520247

>>25512891
Ah yes, the Harare school of economics.

>> No.25520421
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25520421

>>25512891
>Mugabe's face after buying his 28th home in the south of France

>> No.25520751

>>25508535
>thanks to immigration
you mean thanks to CAPITALISM, right? or are you a cuck that blames poor people while the rich fags butt fuck you in the ass?

>> No.25521042

>>25520751
I hate boomers and their
>I KNOW WHAT I GOT NO OFFERS LESS THAN 900K
Mentality as much as the next guy, but completely taking the poor/non-white minority context away from immigrants
>endlessly increase population of country and therefore demand for housing via unimitigated immigration
>hold constant or even decrease supply of housing due to boomer NIMBY bullshit

It's still a piece of the puzzle anon

>> No.25521084

>>25518375
Tulsa is a city, not the middle of nowhere.

>> No.25521176

>>25520751
Just say JEWS, who are responsible for literally all of this and much more and get over with it. Muh capitalism, muh communism, muh immigration, muh this, muh that. Fuck it, man.

>> No.25521299

>>25521084
it's a city in the middle of nowhere

>> No.25521568

>>25508377
https://www.youtube.com/watch?v=YE9qb1Nhw4A&ab_channel=BestofMartinShkreli

>> No.25521672

I like Californian geography but don't like the taxes, homeless, home prices and Californians. Feelsbadman.

>> No.25521784
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25521784

>>25509517
>if a house sells for a price it means someone actually bought it for that price
You must be new here

>> No.25522096

>>25508377
Please add BOND hodlers as well to your list. There is a probability that defi succeeds and then I don't dare to think where BOND will be

>> No.25522156

>>25508634
> <300oz silver
My body is ready.

>> No.25522200

>>25520751
That's the government not capitalism.

>> No.25522222

>>25509112
Stay poor

>> No.25522233

>>25512832
if they stopped pushing careerhood for women this would stop immediately but they dont care for anything but the colour green. our politicians are niggers who lives in their own world free of the problems they create. they get paid absorbent amounts of money to do monkey tier decision making which are always predecided before it even reaches them. they are qualified to say yes and no

>> No.25522744

>>25522200
there's 7 empty houses in San fran for every 1 homeless person
>but muh immigration!
The immigrants are the doctors and engineers from india who you go see when you have a heart attack from eating too much McRib

>> No.25522941

>>25522744
>~8k homeless in SF proper
>56k empty homes in san francisco

You're fucking retarded. And if there are that many sitting empty it's from chink investors overseas buying them en mass and then letting them sit empty while speculating on how much they'll go up in price. Globohomo trash that goes hand in hand with mass immigration.

>why won't let you let foreign non-residents buy property in your country? You aren't racist are you?

>> No.25523124

>>25520247
Kek

>> No.25523269

>>25520751
The alternative to capitalism is gov. capitalism with a salary $60/month
t. Russian

>> No.25523282

>>25508711
Everyone but the 1%.

Gen Z is already poorer than their parents even those coming from high net worth families that provide you every opportunity.

Millenials will be even poorer, ad infinitum.

The 1% and those who hold quality assets will keep their place in society everyone else will further sink into servitude.

Capitalism died a few years a go, it's feudalism now, the music stopped a few years a go when the fed debased our currency, if you are not sitting on a chair get I've got bad news for you.

>> No.25523877

>>25508895
>Jew York Times said you’re wrong!!!!!

>> No.25523923

VNQ is a great vehicle to allocate a small percentage of your portfolio into real estate.

>> No.25523963

>>25509517
The Canadian economy is Gen Xers flipping houses to each other as well as the Chinese being sponsored by their government to colonize.

>> No.25524326

>>25523282
most zoomers, millenials, etc. have parents that own real estate, so they won't be totally fucked. it's the small segment of young people with no inheritance that are fucked, which I estimate to be 10-20%

>> No.25524390

>>25521672
its a beautiful state. as we speak all of the poors in cali are getting kicked out. amazon factories will be built in the deserts of cali in shitholes like lancaster and bakersfield, etc. all the spics are moving there. i know multiple poor mexicans who are moving to those areas.

>> No.25524777

>>25524326
that's me. life on hard mode self made goyim report in.

>> No.25525146
File: 1.95 MB, 1736x990, 2021-01-04 (2).png [View same] [iqdb] [saucenao] [google]
25525146

>>25508377
Its about not living in major metropolis shit holes

>> No.25525269

>>25509112
Bangladeshi tier

>> No.25526460

>>25525146
I don't want to live anywhere near texas.

>> No.25527005

>>25526460
Imagine being this degenerate

>> No.25527039

>>25524326
Most have parents who own one house max, and that is if their boomer parents didn't sell it to move into a 55+ community or take out a reverse mortgage and leave the kids with nothing. Also kids plural mean that the house will be sold and split between the kids so they will get a little bit of money to buy a house when a starter home costs 1.5 million.

>> No.25527375

>>25527039
even split between 2-3 kids, a highly inflated house will give a massive headstart compared to someone with no inheritance at all. with larger families, the inheritance does get diluted, but with a larger family you have a larger network and safety net. plus, a diluted inheritance is better than none at all. there are some people who will lose their inheritance to nursing homes, etc., but i don't know what the extent of that would be. i think parents generally do want to pass something on to their children

>> No.25527458

>>25521299
Can't live without the HUSTLE AND BUSTLE, huh? I know what you mean man, I don't know how I'd live without my favorite gay bar, the African bushmeat restaurant, and the transgender art gallery in my LARGE METROPOLITAN AREA.

>> No.25527605

>>25513639
Fucking every time without fail
>m-muh population density
Nigger this will never be a problem ever. You will wear the mask, eat the bugs, and pay your taxes like a good goyim and finally shut the fuck up.

>> No.25527640

>>25527458
>>>/tumblr/

>> No.25527751
File: 318 KB, 1200x847, gigachad gardener god.jpg [View same] [iqdb] [saucenao] [google]
25527751

Good thing I'm going to buy property way out of the city.

>> No.25527963

>>25527458
I've lived in a buttfuck nowhere town with no prospects and no future my whole life, I'll take the hustle and bustle any day. At least while I'm young, I'm tired of being surrounded by dying boomers

>> No.25528117

>>25508377
Nigger just live literally anywhere outside a handful of cities. Our house was like 375k and is at least 4x the size of that thing, made of brick, with a large yard and pool.

>> No.25528262

>>25509112

Congrats you can afford a 300k mortgage if you stretch. That will buy you either a cuckcloset or cuckcondo depending on the city