/biz/ - Business & Finance

[Anonymous No.53755948]

How long will the housing market go down?

I think it’ll last another 2 years atleast

[Anonymous No.53755974]

>>53755948
>tells you to buy bags
>last name is Shiller

[Anonymous No.53755995]

>>53755948
how the fuck does $14k allow the purchase/mortgage of a 400k property? someone please tell me

[Anonymous No.53756005]

>>53755948
Based debtmax Stacy. Literally can't go wrong

[Anonymous No.53756033]

>>53755995
Only Talmudic scholars can explain it.

[Anonymous No.53756159]

>>53755995
don't think about it. her goal is attention, this word / picture combination is just her latest attempt at finding a winning strategy to attain more of it. it's a meaningless life - you can pity her, but she'll never change in a meaningful way, except when she believes it'll get more views that what she's currently doing

[Anonymous No.53756205]

>>53756033
>33
oy vey

[Anonymous No.53757471]

I get this girl on my tiktok all the time because she's also in chicago.

She's in Illinois - with the second highest property tax in the country - does she realize what the tax burden on that comes out to?

[Anonymous No.53757522]

[Anonymous No.53757621]

>>53755948
>if you take on 386k of compounding debt every year you'll be able to retire in no time
This market needs to burn so roasties and speculators get what they deserve.

[Anonymous No.53757685]

>>53755995
It doesn't. People like her have zero fucking clue how the world works. They think you just walk into a bank, throw down $20,000, wink, and say "hey I'm buying a property!" and they just cut you a check for $300,000 and say "heh...pay us back monthly!" They don't take into account ALL of the shit a bank is going to want to look at like your assets in general, your current income, your income over the past several years, your credit rating, your experience with purchasing a property, and on and on. Even the process of buying a property with inspections, closing costs, and all of that shit isn't just like driving to Starbucks and ordering a latte.

[Anonymous No.53757692]

>>53755995
Shlomo kikenstein peddling rebranded subprime mortgages yet again (probably)

[Anonymous No.53757696]

It'd be a shame if somebody rained a little more than you thought it would and uh, those properties got absolutely fucked up beyond all repair on all account of a restructuring of every small to conglomerate insurance policy reform thanks to this funny little nonstarter.

[Anonymous No.53757747]

>if you buy the thing that I'm selling
>you'll get rich!

[Anonymous No.53757763]

>>53755948
the housing market bottomed months ago

[Anonymous No.53757767]

>>53755948
Trusting a realtor’s financial advice is like trusting a vampire at the blood drive

[Anonymous No.53757838]

>>53755948
This is the modern day version of the “its just a little gully” scene in Big Short Movie.

[Anonymous No.53757918]

>>53755948
This is also assuming that someone can get the lowest possible FHA % down off the bat, while working at an entry level job, with probably barely any credit, and probably loads of student loan payments on top of that.
Plus how do you make any cash flow from a SFH nowadays? Good luck finding a fourplex anywhere for $400k without a meth lab and a dead body in a bathtub.

[Anonymous No.53757942]

>>53755948
If you save up $14,000 you can buy one property that costs $14,000. If you make a $14,000 down-payment on a $400,000 house you still have to come up with $386,000. That means making $2500 payments on your house every month for almost your entire adult life. That is a huge commitment that most of these people are unable and unwilling to make.

[Anonymous No.53757947]

>>53755948
wtf did I just read?

[Anonymous No.53758007]

>>53757685
You sign a contract that collateralizes the house and allows the bank to take it if you don't pay them back. They don't just give you free money that you use to buy a house. And they go through all of your financials, tax returns, employment, credit history, etc. to qualify you for the mortgage. Acquiring a mortgage is a very lengthy and annoying process.

[Anonymous No.53758026]

>>53757918
if only us women would be that cute

[Anonymous No.53758048]

>>53755948
Selling Sunset and its consequences have been a disaster to modern basic zoomer bitches

[Anonymous No.53758105]

>>53758007
mortgages are for jewish slaves.mortgaged homes are for jews and their slaves. IF we exterminate the jews end immigration and deport all africans. houses could be almost free again. if wee kill enough foreign non whites, houses will be free for taking and most cities drivable

[Anonymous No.53758126]

>>53758026
how do people get this fat???

[Anonymous No.53758141]

>>53755995
That’s just 28x leverage. I use 100x in crypto all the time

[Anonymous No.53758687]

>>53757918
> a meth lab and a dead body in a bathtub.
I would pay extra for these amenities honestly

[Anonymous No.53758837]

>>53755948
Closing costs - 3% ($12,000)
3.5% down (FHA Loan - $14,000)
The MIP from an FHA loan - 1.75% ($7,000)
Buyer/seller usually split Realtor fees - 3% ($12,000)

$45,000... thats what you're looking at with an FHA loan on a $400,000 house. And even if you find a private seller, you're looking at $33,000, minimum.

Good luck zoom zooms :^)

[Anonymous No.53759081]

[Anonymous No.53759147]

>>53755948
94 here. Don't listen to this......realtor. JFC

[Anonymous No.53759165]

>>53757685
not to mention the bidding war you'll likely be in with others. a 400k property will sell for 401-435k depending on how much some retard is willing to spend.

[Anonymous No.53759179]

>>53758026
Over 74% of American w*men are overweight/obese. I’m /fit/ and can’t stand fat people, this country is suffering. Hoeflation is out of control.

[Anonymous No.53759184]

>>53758837
And then after you outlay what is almost the median yearly income of the country in cash before you even get the keys you have a house to take care of. Rentoids have no idea the bills involved. Even if it’s in brand new condition there is upkeep or it will go to shit. Then there is the taxes. Also utilities for a house are significantly more expensive than an apartment since it’s an entire building. My electric and gas combined was over $1000 in January.

Wanna redo a kitchen? Bathroom? The windows? Forget about it. If you can’t put at least 10% cash down and have at least that much liquid in reserves you can’t afford the house so if you are looking at 400k houses you better have AT LEAST 80k liquid in reserves or you are gonna be fucked. .

[Anonymous No.53759193]

>>53759179
>73.6%: Percent of adults aged 20 and over with overweight, including obesity (2017-2018)
After Covid lockdowns this number is probably 80% minimum by now. Absolutely wild.
https://www.cdc.gov/nchs/fastats/obesity-overweight.htm