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/biz/ - Business & Finance

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51220825 No.51220825 [Reply] [Original]

>rentcucks
>literally paying someones mortgage for them

>ownchads
>build equity with every mortgage payment
>appreciation in home value
>tax benefits

Housing is likely your largest monthly expense. Why are you still renting anon?

>> No.51220934

>>51220825
can't wait to buy any house I want for 50% off in 6 months from some poor sap who fomo'd in over the last two years

>> No.51221305

>>51220934
yeah but interest rates will be over 20%

>> No.51221377

>>51221305
don't care about inflation if im paying straight cash. inflation was a meme, im hundred percent liquid. get fucked normies.

>> No.51221434

>>51221305
i'll buy something I can afford at these prices then just refi in 5 years when interest rates drop and home values rise

>> No.51221466

>>51220825
>tax benefits
What are the tax benefits? How does that factor into places like Texas where the property taxes are sky-high?

>> No.51221597

>>51221466
houses are a depreciation assert. Have a 1 million house. Looks like I lost 10k in deprecation.

>> No.51221630

>>51220825
only benefit to home ownership is that you can borrow against it.
and maybe some extra mental stability.

>> No.51221651

i expect to move around a lot working shitty jobs. thats why i dont buy a house.

>> No.51221650

>>51220825
>>literally paying someones mortgage for them

This part should be illegal. The renter should get some equity in the house since they are paying the mortgage.

>> No.51221723

>>51221597
Property must be income-producing or business related to depreciate.

>> No.51221745

>>51221305
>>51221377
So this is what i dont get and idk whats gonna happen, or rather i dont think its gonna crash.
Right now the market for realistate is fucking wild with prices through the roof.

So they are trying to cool it by jacking interest rates. The problem is you have a lot of people like this, who are sitting on fuck tons of liquid assets becasue they know its gonna crash. But when it crashes, and people show up to buy with cash, the market wont fucking stop. So we are gonna have high prices AND high interest.

This is totally not like 2008. Because unlike 2008, you did not have people kicking the door open having fucking bidding wars over properties in cash like they do now. I dont think the market is going to crash, it might correct and drop maybe 15, 20% but its not gonna be a crash like people think.

>> No.51221763

>>51220825
because a 1000sqft house around here costs at least $300k and I only make $70k/yr

>> No.51221765

>>51221630
Owning property gives you more rights. If I want to smoke a billion cigarettes a day and have prostitutes over 7 nights a week I can do that in my own home, can't do that in a rental.

>> No.51221787

>>51221650
kek
Kek
KEK

>> No.51221843

>>51221765
I get what youre saying but financially speaking it's better to do those exact examples in a rental.

>> No.51221849

I'm thinking on squatting some land in the countryside so for now I need to pay where to live because my country security is shit I might be seen as a narco.

>> No.51221931

Between the inflated housing market, HOA fees, electricity, garbage, water, property taxes, and a mortgage it is still currently cheaper to keep renting and throw the remaining money that wouldn't go to a house into an index fund instead. I think we'll see a massive vaccine die off in the next 2-3 years and real estate costs will dump.

>> No.51223227

>>51221931
>I think we'll see a massive vaccine die off in the next 2-3 years and real estate costs will dump.
Great job pretending to be a standard retarded /biz/ denizen.

>> No.51223246

>>51221723
With time buildings deteriorate and at some point get too expensive to fix also you don't want to deal with the bullshit that historical buildings involve.
Adjusted for inflation an European castle would be worth a fortune new but today they can be bought with spare change.

>> No.51223499
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51223499

>>51220825

Paying property tax is paying rent. If you don't pay your rent, the (real) owner will kick you out. To truly own, you need allodial title.

>> No.51223676

>>51221377
Everyone who gets wealthy uses leverage.

>> No.51223680
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51223680

.

>> No.51223784
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51223784

>>51221745
>It's different this time!

>> No.51223866

>>51220825
My tenant only pays for half my mortgage. Still nice buck Canuck houses where too expensive when I bought.

>> No.51223911

>>51221745
Dawg 15-20% drop is a crash

>> No.51223932
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51223932

>>51221650
Kek, great bait anon, the commie cucks will love it

>> No.51224053

>>51220825
Living with rich boomer parents is the gigachad IQ move.

Imagine shackling yourself to seven figures of debt just to say you live in a dilapidated shack.

Mortgagecucks are seething while I live with parents in an uncucked red state and laughing at their unserviceable 50% DTI ratio.

$10K take home per month with zero expenses feels good mayne.

>> No.51224085

>>51220825
I only pay 400 a month, due to living in a tiny place with two roommates. I'm just saving for now to one day buy a house comfortably, but it probably will be another 20 years before I can put down 20%

>> No.51224122
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51224122

>>51220825
Should I get a condo while my GI bill gives me $3,100 a month?

>> No.51224222

>>51221745
There is no upside now. Why do you still think people are willing to kick in doors to buy homes, when they can no longer make money...

>> No.51224245

because its ~750,000 for a home in a neighbourhood with shootings, robberies, and burnlootmurder libshit city gov and Im only worrth $10k?

>> No.51224248

>>51223866
Based as it shouldn't be a given for you to own the home. You should be able to carry the cost of owning the home on your own. And having a renter is a convenience.

>> No.51224272 [DELETED] 
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51224272

Homes are too expens....

>> No.51224289

>>51221745
>won't crash
>drop 15-20%
What would you call a crash? Housing isn't crypto kid

>> No.51224333

>>51220825
I pay 600 dollars a month to my landcuck and last month i made him cry when i refused his rent increase and threatened to file and RTB-12C-TC, apparently his property taxes went up and he's close to being underwater. Must have overextended himself at the top of the market. Many such cases.

>> No.51224364

>>51224272
>Unit

>> No.51224366

>>51221745
you infernal fucking retard

>> No.51224509

because i cant afford 20% down in a market where the dumpiest house in town is 800k

>> No.51224539

>>51224333
>RTB-12C-TC
what is the equivalent of this in the US

>> No.51224872

>>51224539
unfortunately governed by state

https://www.hud.gov/topics/rental_assistance/tenantrights

>> No.51224889

>>51221305
>over 20%
Not happening, housing prices would crash hard.