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52719568 No.52719568 [Reply] [Original]

>fed rate hikes 90% completed
>here's your housing market bro

you will never own a home.

>> No.52719605

>>52719568
Is this supposed to be some sort of demoralization post? If so, it's not very good. No one needs to put a 20% down payment on a home in order to qualify for a loan, all you need is 3.5% (if your credit is good) or 5.5% if it is not. A 458k home is easily affordable if you are married, that's 1.2k per person. Two people working full time at mcdonalds could afford that.

>> No.52719618

>>52719605
>just get married and make your wife work goy
>just pay some niggers to raise your kids for you
>perpetuate the problems of the world or you will miss your one chance to own a home

>> No.52719627

So are rate hikes actually about to stop entirely? Or are people just getting excited about smaller hikes? I live in Australia and our fed is pretty aggressively raising rates yet we have lower yoy inflation than you guys

>> No.52719641

>>52719568
median home price is a meaningless statistic for low IQ niggers. you should be looking at a combination of median sales price and number of sales per month, and then comparing this to other periods. if you don't understand what i am saying then you are likely yet another nigger retard who is proud of owing a bank money for 30 years.

>> No.52719655
File: 23 KB, 512x384, patrick.jpg [View same] [iqdb] [saucenao] [google]
52719655

>>52719605

>7+% rates
>dude just put less down

??

You put 3% down you pay 3k a month for 30 years for your MORTGAGE. God forbid you have other expenses, or you reproduce

>> No.52719656

>>52719618
Enjoy renting or living in your parents house in a state of arrested development for the rest of your life

>> No.52719668

>>52719655
>what is refinancing when the interest rate drops

>> No.52719674

>>52719605
that's not wrong, but as someone knowledgeable in the dark jewish arts, i can say with certainty that 20% is the minimum acceptable down payment. also, you need to budget for potentially expensive appliances/repairs because there's no landlord to call if your water heater breaks

>> No.52719687

>>52719627
>the numbers my government made up are smaller than the numbers your government made up
no one knows if the fed will stop raising rates. it sounded like they would slow down in December and potentially stop next year, but then the payroll numbers went up which means the economy isn’t hurting enough. it’s a total crap shoot and anyone saying they know what will happen is full of shit. hope for the best but prepare for the worst. in my case, the best outcome for me is the worst outcome for everyone else. I’m a silverchud.

>> No.52719704
File: 1.98 MB, 225x225, Kristen-Bell-Laughing-to-Crying.gif [View same] [iqdb] [saucenao] [google]
52719704

>>52719605
>is easily affordable if you are married

>> No.52719706

>>52719656
as opposed to enjoying making my wife work a job she hates while the money she earns is mostly spent on paying people to abuse and indoctrinate our children? fine by me

>> No.52719723

>>52719668
who says the rate will ever drop again in our lifetimes? 6-7% is much closer to the 50-year mean, while the last few years of 2.5% interest were an anomaly
https://fred.stlouisfed.org/series/MORTGAGE30US

>> No.52719728
File: 319 KB, 1554x1398, Screenshot 2022-12-03 081833.png [View same] [iqdb] [saucenao] [google]
52719728

>>52719674
You're probably a jew yourself because you're a lying. The reason why I know this is because I went through this process 3 months ago. You don't need a 20% downpayment for a loan.

Pic related - loan was for 365k

>> No.52719738

>>52719728
i know for a fact you don't "need" 20% down, i'm saying you want 20%+ down. you could probably get some jew loan designed to enslave niggers for 3.5% or even 1% down, borrowed against your retirement savings. every quality gentile mortgage lender i talked to demanded at least 9-11% down fully liquid cash savings.

>> No.52719752

>>52719723
You're operating off of the assumption that the state of the US economy as well as the global economy has been absolutely the same for the past 50 years. You make a fair point that we don't know what will happen, but it is an intelligence trap to assume that past data dictates what will happen in the future.

>>52719704
Just browse /fit/ and go the gym, it's not hard to meet women

>> No.52719773

>>52719752
yeah man, i'm just saying that 6-7% is much more in line with the usual average, not that the same graph will necessarily replay into 2075. we live in clown world right now and it's getting more clownish by the day. the only absolute constant is that jews will attempt to extract gentile wealth through any means necessary.

>> No.52719782

>>52719568
So basically housing prices as paid by mortgage borrowers doubled since 2019.

>>52719605
Putting less down only exacerbates the price discrepancy, you fucking retard.

>> No.52719796

>>52719728
>every quality gentile mortgage lender i talked to demanded at least 9-11% down fully liquid cash savings.
You probably used a shitty lender (try an online bank instead) or your income is -really- low in which case you should be focusing on getting a better job. I accepted a higher interest rate on top of the already high interest rate in exchange for credits because I didn't want to put extra money down which could be used to invest in more crypto.

>> No.52719820

>>52719568
housing demand lags rate adjustments 6-9 months, young fella

>> No.52719821
File: 12 KB, 250x210, 1660867065620653s.jpg [View same] [iqdb] [saucenao] [google]
52719821

>>52719568
> Doesn't understand lag
Disgusting

>> No.52719831

>>52719782
>Putting less down only exacerbates the price discrepancy, you fucking retard.
read ahead or stop being autistic, I'm aware putting less down makes your payment higher. The point is the payment is still affordable, just stop being retarded with money and also stop basing your decisions on present day. Just because your salary is on the low end now doesn't mean it will be in the future when you have more work experience and can command higher wages. You stupid zoomers fall for demoralization so easily

>> No.52719833

>>52719605
>just finance a shitload more in PPI at an even higher rate, goy
lmao bait

>> No.52719840

>>52719627
lower YoY% doesn't tell you anything at all

>> No.52719876

>>52719605
wait in burgerland they'll really give you a $400k loan if you work a mcdonalds?

jeez thats fucked in UK its only 4.5x salary

>> No.52719878

>>52719796
nope, i have a very good income/credit and talked to quality local lenders in the area i was thinking about buying. not one of them wanted to hear things like, "i'll just put the minimum down and take it from my IRA," they all wanted actual cash and more down.

the only person who told me otherwise was some kike from like realtor.com or something, who kept pushing for the bare minimum down and kept grilling me about my retirement and future inheritance. my goal is simple: stack cash as i max out my accounts, until i can put ~30-50% down at interest rates befitting an 800+ credit score, and pay it in full within 5-10 years.

>> No.52719880

>>52719568
It just means housing prices have to come down to compensate.

>> No.52719894
File: 144 KB, 1769x1061, sales price and home sales USA quarterly.png [View same] [iqdb] [saucenao] [google]
52719894

>>52719641
Not sure what you want me to see

>> No.52719916

>>52719831
What on earth are you blathering about? The point is that actual housing payments have doubled since Covid. Your retarded counter argument is that you can always put less down down. That would only result in prices MORE THAN doubling. The size of the price increase only gets bigger the less you put down. You're a mouthbreathing moron.

>> No.52719927

>>52719641
yeah i'm convinced it's also based on (((zenstimate))), which is a fabricated jew number. the closest source of truth about any particular home's "value," is the tax-assessed value. that's what determines property taxes and capital gains taxes. in that case, the house i want to buy has been consistently worth $300-325k for the last several years, but the (((zenstimate))) has swung from $750k-450k in the last couple months

>> No.52719965

>>52719876
Mcdonalds in my area pays $18 an hour which equates to roughly 37k/yr, multiple that by two and you're at 74k which is around 6k a month before taxes or roughly 4.5k-5k after taxes depending on your deductions and withholdings. 400k is still affordable, but you won't living in luxurious conditions. That being said, even if you're making $18/hr now, it doesn't mean that you'll be making that in the future. Most home loans in america are fixed rate, so whatever youre paying now you'll be paying in the future when you'll hopefully be making more money.

>> No.52720000

>>52719916
>prices will double if you put less down
This is hyperbolic and completely false. The only moron here is you, the government isn't running the money printer anymore, housing prices are going to drop, however the housing market is a lagging indicator of the true state of the economy. Instead of wasting time on this board complaining about every single minor inconvenience in the present-day economy you could stop being a faggot and use that time to find ways to make more money. The only thing stopping you from affording a house is you.

I'm single, have a degree in painting from a state college that I paid off in 3 years and can afford a home. What's your excuse zoomie?

>> No.52720014

>>52720000
Meant to finish writing, your payment per month will not double from 20% down to 5% down

>> No.52720017

>>52719568
imagine struggling to afford a $2,500/mo mortgage payment. America truly is the easiest place in the world to live a comfortable life.

>> No.52720031

>>52719706
luckily we both know you'll never reproduce nor marry so it's a moot point.

>> No.52720044

>>52719916
oh no housing payments have doubled from incredibly affordable to just affordable now. Woe is the average american!

>> No.52720057

at least i have a pretty solid plan that helps everyone
>stack cash until grandparents die
>accumulating ~$800/week while still maxing out all retirement accounts
>offer $25k over the fair market value to my family
>complete the deal the next year, ideally
>their stepped-up basis is the FMV at death
>they pay long-term cap gains on only $25k
>no (((broker fees))) or other unnecessary fees
>house of great memories stays in the family
>i have a comfy corner lot victorian
>we continue celebrating easter

>> No.52720108

>>52720000
>prices will double if you put less down
>This is hyperbolic and completely false.
Are you clinically retarded? Respond to what I actually wrote, smoothbrain.

>What's your excuse zoomie?
I'm gen-x and I own multiple houses. We're talking about HOUSING DATA not personal lives, kiddo. It's simply a fact that housing prices as paid by the typical borrower have doubled over 3 years. That's obviously not sustainable long term.

>> No.52720112

>>52720017
This but unironically. I think the issue is that education standards in america are so abysmal these days that zoomers are coming out of schools functionally if not fully retarded. It has gotten so bad that the navy has recently dropped the minimum requirement to join to an ASVAB score of 10, which equates to an individual having an IQ score below a 65. IIRC 60% of asvab takers out of highschool score in the past 2 years score around a 20-30 which means an IQ of 75-80. Zoomers are just that fucking retarded

My rent used to be $3150, easily do-able while only making $120k. I had plenty of cash left over for getting drunk and doing things.

>> No.52720117

>>52720014
Nobody said it would, dumbfuck.

>> No.52720123

>>52720108
I did see here>>52720014
that being said I had quads in that post you responded to so whatever you have to say has been rendered completely invalid.

>> No.52720125

>>52720031
married father of three. seethe harder kike

>> No.52720133

>>52720123
Learn how to read, retard.

>> No.52720142

>>52720108
>I'm gen-x
Oh so you're retarded, that explains that. Yes, the last 3 years of the economy have been totally normal and are indicative of the future state of the economy that has yet to come. Prices will remain high forever, you're completely right. Makes sense.

>> No.52720167

>>52720133
the base of his argument seems to be fairly accurate: it's better to put less down IF AND ONLY IF putting more down would eat into your retirement contributions

for the non-poorfags in the room with no debt who can afford a $20,500 401k, $6000 backdoor roth IRA, $3650 HSA, and regular gold/btc investments while stacking ~$2300-2400 per month, it makes sense to wait and put as much down as possible

>> No.52720173

>>52719894
number of sales down to a level not seen since 2009 vs record setting median sales price. this should indicate inflated valuations.

>> No.52720181

>>52720142
>Prices will remain high forever
You really are a complete and utter moron, aren't you? Your "degree in painting from a state college" has not prepared you to follow a simple conversation involving elementary arithmetic. You are incapable of even deciphering what your respondents are saying, hence should refrain from further replies.

>> No.52720213

>>52720167
>it's better to
Never made any claims about what it's "better to do". The claim is that housing costs have doubled since 2019, assuming a 20% down payment. If you assume, as he suggests, a 5% down payment, costs have MORE THAN doubled, so that's not even remotely an intelligible objection.

>> No.52720226

>>52720167
This anon gets it. Don't bother with the other anon, he's a stupid gen-x/boomer

>>52720181
Here is a simple math equation for you (perhaps two).
I make 210k (with a 300k vesting every year) a year, I own a home that costs 340k with a 7% interest rate and no pre payment penalty. How long does it take me to pay off my home?

Wait here is a better one for you.
4chan's target demographic is 14-30 y/o individuals who have an interest in niche hobbies such as anime and video games. You claim you are a gen-xer or older which means you are lurking on a msg board for people younger than you.

Based on this information, how big of a worthless faggot are you that you have to seek out conversations and argue with people younger than you because you are stuck in a state of arrested development? Please show your work for this question.

>> No.52720244

>>52719878
Get a load of this goy

>> No.52720250

>>52720226
>chimes in with yet more irrelevant nonsense
Humiliating.

>> No.52720292

>>52720244
>not letting jews steal your retirement while committing usury against you
>goy
nigger please

>>52720226
yeah. been wishing the btc bear market would end, just so i have an excuse to buy less crypto. i accumulated a solid 1.25 btc this year but want a good poomp to give me a reason to reduce my btc allocation. otherwise, i'm at a weird inflection point where i'm scrambling to reduce my taxable income as much as possible, where roth accounts are actually a worse deal than trad accounts. is this 6 figure hell?

>> No.52720294

>>52720226

real median household income in the US is 70k dude. This conversation should have never continued after your "3.2k mortgage payments are totally affordable for the median priced home" reply

>> No.52720315

>>52719627
We are around 6% yoy inflation, down from 12% in march, the target is 3%. We are near plateau, probably a few hikes remaining in Q1 then once we go under 5% they will pivot.

>> No.52720347

>>52720213
"better to" is just shorthand for, "don't waste money you don't have by stacking it in a bank account, when you could invest it and let it grow over time," m8

if you have money to stack and fully invest, then stacking is a great option since most (all?) tax-advantaged investments have a yearly contribution cap anyway

>> No.52720357

>>52720347
Again, irrelevant. Thread is about empirical housing data, not investing advice.

>> No.52720374

>>52720357
oh well i guess you're right, anon
>INTEREST RATE BAD
>MEDIAN HOUSE PRICE STILL BAD
>AVERAGE AMERICAN POOR
>WHY NOT HOUSE???
good point

>> No.52720432

>>52720294
>real median household income in the US is 70k dude.
Yes, this was already discussed earlier, mcdonalds pays 37k/yr starting (18 an hour full time).2 people working full time can afford a 3.2k mortgage payment, I explained this in this post >>52719965

>>52720357
Get off this board you faggot.You're too old to be online

>> No.52720493

>>52719605
With our divorce courts if you are married it isnt your home it is your wife's.
And you argue against 20% down then use the figures from 20% down. Less than 20% down or FHA you going to be paying mortgage insurance.
And the figures do not include property tax at all. Add another 1-2%/12 to the monthly payment.

>> No.52720526

>>52719927
You realize boomers will go and protest their tax-assessed value every day for months to try to get it assessed way under its value right. That's the stupidest fucking measure I have ever heard. Good luck buying that house for 325K retard.

>> No.52720564

>>52720493
Here's a video for you. My suggestion for you is to grow a pair, take risks and learn how to be a man. Living your life on a spreadsheet and "bean counting" to make excuses for not doing something is a sign of low testosterone and also a sign that you fell for some stupid alt right psyop.

https://www.youtube.com/watch?v=ySN_o0-1qn0

>> No.52720598

>>52720432
>retarded zoomer can't follow a simple conversation

>> No.52720612

>>52720526
it's a good starting point. the (((zenstimate))) for an off-market house is known to be absurdly inaccurate

>> No.52720681

>>52719605
>Just save up $25k working at McDonald's
Then just another $25k for closing costs. You buy a used broken piece of shit. Everything needs to be replaced. Chapter 11 here you come.

>> No.52720726

>>52719568
It is blackpilling how little housing has crashed. That said amerimutts literally can't complain, your cost per sq ft is so cheap on average compared to europe.

>> No.52720836

>>52720681
This risk adverse loser mentality will cause you to end up like the "gen-xer/boomer" who keeps replying to me because they are desperate for Yous. Closing costs will not get that high. I already posted a similar loan that I took out above. Quit the SUH0Y boy bean counting, stop making excuses for yourself, get off this board and you'll make it. Stop falling for chinese/russian demoralization posts. I'm here to raise morale

>> No.52720923
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52720923

It's kinda crazy how much of a ponzi scheme housing is when you've worked in construction. These homes overall aren't that difficult to build. A couple of guys with experience can plop down a nice bungalow in a few weeks, or not to mention the modern mutt cardboard house, which goes up over a weekend with insanely cheap material. The most difficult factor is likely the loggers generating the wood, who have a really tough and deadly job, but that's already reflected in the price of lumber.

Many don't want to believe it, but housing is only overvalued in the modern world due to massive influx of immigration and land permit restrictions. A lot on here want to believe that landlords are based, but it is within the interests of them to support liberal-progressive policy which favors keeping the ponzi alive.

>> No.52720925

>>52720726
i personally think anyone hoping for a "crash" was setting themselves up to be blackpilled. my assumption the last couple years, was that housing prices would just be normal, i.e., not hyperinflated by delusions caused by fake jew numbers, sometime around winter 2024. so you wouldn't be getting a $325k house for $200k, you'd be getting it for $350k instead of some retard price like $700k

>>52720836
that's just another reason to aim a bit higher when figuring out your down payment. (((loan origination fees))) and other such bullshit. also, in my case, legal entities to actually own the house. my research has shown that ownership under a revocable grantor trust, with an LLC as the beneficiary, is the best for privacy and liability. but those entities cost money. so add a few grand for the trust and whatever your state's LLC fee is (my state is ultra cucked in the latter regard with all loopholes closed - hence why my car is not owned by my foreign LLC)

>> No.52720977

>>52720923
yeah it's not exactly rocket science. i'm only in the market for old timber frames though. a lot of stuff is possible to DIY with the right skills, and even baby-tier improvements as simple as replacing shitty cabinet knobs can have a huge impact on your quality of life. there are certain things i wouldn't trust myself to do, however, such as most masonry, and certain things i'd hire a pro to look over before setting fire to the place, e.g., upgrading electrical outlets to grounded 120VAC with a 240VAC outlet available in every room. but refinishing a floor in tung oil or something, i'd be a retard to pay someone to do that.

>> No.52721068

It will take about 4 years for the housing market to hit a bottom.

>> No.52721483

>>52719568
You will lose your job

>> No.52721496

>>52719568
>>fed rate hikes 90% completed

No, 50% complete.