Who is fucking buying these overpriced houses???

[Anonymous No.53769550]

I make like 120k a year and have 300k in cash. i would never consider buying a house more than 3x my income. Im in the top 5% income of my town and all the houses being listed are like 500k+. I hope all these fucking boomers just die.

[Anonymous No.53769581]

>>53769550
Gotta pump the housing market one last time before the boomers shuffle off this mortal coil, you understand.

[Anonymous No.53770108]

>>53769550
Most Americans make like $48,000, I have zero idea how people buy these houses.

[Anonymous No.53770124]

>>53769550
Maybe this is an expression of the currencies failing?

[Anonymous No.53770141]

>i would never consider buying a house more than 3x my income
This is an arbitrary and dumb rule because you're overly sensitive to debt. You'll never own a home.

[Anonymous No.53770159]

>>53770108
a lot are 50 year olds who saved up 500k after working for 30 years and now are pouring all their money into a house buying cash.

>>53770124
irrelevant. prices SHOULD be a function of incomes in the area. a big problem recently was the low rates allowing people to buy 500k+ houses on low incomes. since majority of these houses are loan and almost 0 equity, now that rates are up they are probably stuck with that house for 30 years. they literally cannot afford to sell as their equity value is negative.
so there is now an artificial price floor and inventory wont go up

[Anonymous No.53770164]

>>53769550
because you're too fucking stupid to buy when rates were 2%. Great tax credit you're missing out on too

>BUT DEBT IS LE BAD

[Anonymous No.53770171]

>>53770141
interest is 6-7% on 800+ credit for 30 years

its really hard to beat 6-7% for 30 years straight. stocks have done it but we are at a peak for stock returns. the next 30 years will prob average 3-4%/year if not flat

[Anonymous No.53770176]

>>53770164
my income was 70k then and i had no cash. houses were selling within hours by cash buyers

[Anonymous No.53770203]

>>53769550
Massive amounts of debt and large loans were acquired during the past decade due to the low rates. Even 6% is historically low on a 30 year loan. So you can have someone making 80,000 a year take out a 400k loan easily. The bottom line is most of the people buying shit are going into massive debt. For example i just witnessed a nignog buy a $120,000 Mercedes S550 and they live in a lower income apartment complex. Most people are in debt and they think making it means debt maxing and living as a perpetual slave to lenders

[Anonymous No.53770210]

>>53770164
Kek just wait until your stick built house is worth 30% less than what you paid for it in 2024

[Anonymous No.53770941]

>>53770159
>they literally cannot afford to sell as their equity value is negative.
what do you mean by this? the bank or any other bank won’t let them sell it and continue to pay the remaining balance? is there a restriction when you sign a mortgage that you can’t sell it back to the bank at a lower price?

[Anonymous No.53770955]

>>53770941
what was meant is: say you owe the bank 800k and you sell the house for 400k and give it to the bank then you still owe the bank 400k and you have no fucking house

[Anonymous No.53770967]

>>53770955
can you typically set up some sort of post-sale loan agreement to cover the additional 400k? is that common or would the original mortgage broker demand the full 400k extra before the new sale can be closed?

[Anonymous No.53771005]

>>53769550
Build something fucking seething retard.

[Anonymous No.53771010]

>>53770108
Loans.

[Anonymous No.53771019]

>>53771005
I’m going to build a tiny home if we get a bull run this year
maybe even if we don’t
thinking of doing it on a trailer but might try shipping container

[Anonymous No.53771022]

>>53769550
It’s all about monthly payment. U gotta live somewhere n if u can afford the monthly mortgage regardless of price it doesn’t matter

[Anonymous No.53771025]

>>53771019
Do it, will make your life so much better.
Don’t even touch the cities, country side.
Good luck.

[Anonymous No.53772565]

>>53771025
thanks man
gonna start looking at some land now