Buying a house is a terrible financial decision

[Anonymous No.55915804]

Assume you saved $50,000 to your name, you think it's time to buy your first property. Now you're stuck with a monthly mortgage that won't be payed off in a lifetime, meanwhile you're -$50,000 (down payment) and forced to become a wage slave for the rest of your life. What kind of financial decision is that?

Instead you should take the money, start a business. Eventually with the extra cash flow you can buy property and not be imprisoned by the wage slaving system. What does /biz/ think?

[Anonymous No.55915809]

What fuckin tool shed are you trying to buy with only $50k down lmao?

[Anonymous No.55915813]

>>55915809
Northern Europe.

[Anonymous No.55915828]

>>55915804
Rent only goes up and to the right. Home values only go up and to the right. Stop coping that rent is better when it’s provably not.

[Anonymous No.55915842]

>>55915828
>Home values only go up and to the right.
You assume two things:
1. Only YOUR property is increasing in value.
2. You buy a property with the intent of moving to something better (see it as an investment)

The second you buy a property you're STUCK in the mortgage bank scheme. You cannot escape it. If you sell at a profit you will have to buy another property at a higher price = +-0 in best case.

[Anonymous No.55915843]

>>55915828
lmao at this debtor coping hard. Truth is if you can't buy the home in cash then you can't afford it. Mortgages are the biggest scam and I'm going to laugh at all you bagholders when the price sinks. Unless you can convince zoomers to take out 50 year mortgages. Good luck on that investment.

[Anonymous No.55915852]

>>55915813
Is it Ikea?

[Anonymous No.55915856]

>>55915843
Dumb fuck you obviously don’t understand how taking out a 2.3% loan is a fantastic deal no matter if it’s 1 year or 100 years, in fact the LONGER the loan the better the deal

[Anonymous No.55915867]

My grandparents bought their place for $30,000 in 1975

Its now valued at over $3,000,000

The median rental for a house in their location is $1200/week which is $62,500/year

Their age pension equals to about $45,000/year

Their age pension wouldn't ever cover the rent of the house they own and live in, if they had never bought it, and just rented in that location. They would have been forced out of that location and forced into a low income area in their old age.

This is the value of owning, so in your final 1-2 decades of life, you dont get forced out of your nice area into a scum area.

Those who choose to rent will eventually be forced to rent in some low income scum area later in life.

[Anonymous No.55915876]

>>55915842
Or you can take the equity you’ve gained and pay for a decade of rent. Not all neighborhoods and states go up as fast. I live in California. My house is up 100% since I bought it. My payment is exactly the same as it was when I bought it. I can take all my new equity and pay cash for a house in arizona, can you as a renter do this?

[Anonymous No.55915911]

>>55915843
Cope at this faggot. Imagine paying cash when you could finance at 2.75% and write off the interest. This is why you’re poor.

[Anonymous No.55915912]

>>55915876
>I can take all my new equity and pay cash for a house in arizona
Downgrade, that's your response. Seriously dude? Yeah, you can also buy property in Somalia dirt cheap. You're comparing apples vs oranges.

But you're not even engaging with my original post. Assume you have money saved, how is it a good investment to buy a property when you will forever be stuck with a mortgage? Starting a business with the saved money sounds like the right financial move. I'm not against home ownership btw.

[Anonymous No.55915930]

>>55915804
i bought my house for $35k in 2000, paid it off in 16 years and am retired.

what have you done

[Anonymous No.55915932]

>>55915867
>Its now valued at over $3,000,000
that's just an imaginary number as long as you don't realize the gains. It's like saying you're a crypto millionaire at the ATH pump & dump then broke when they rug pull you. You were never a millionaire because you didn't realize your gains.

>This is the value of owning, so in your final 1-2 decades of life, you dont get forced out of your nice area into a scum area.
this is a valid point.

[Anonymous No.55915940]

>>55915930
>what have you done
Trying to escape wage slaving, unlike you who's been a wage slave for the past 16 years.

[Anonymous No.55915945]

>>55915912
I’m coping so hard. Did you do better renting or nah? Do you write off your rent or nah? Has your rent ever increased or nah? This is why you’re poor, anon. You’re financially illiterate.

[Anonymous No.55915947]

All the financial guru fags reckon you can use your house as collateral to buy another house to use as collateral to buy another house to use as collateral to buy another house to use as collateral to then rent all those houses out to build a real estate empire

[Anonymous No.55915956]

>>55915945
Again, engage with my property vs business hypothetical instead of making these dumb one liner responses. You haven't even understood the premise of my question, you think this is a Rent vs Property thread, it's not.

[Anonymous No.55915973]

>>55915956
Everyone needs a place to live. You’re either going to throw the money away on rent or build equity in an asset. If youre going to start a business you should do it before buying a house. You’d need to be more flexible in having to move unless you can buy a duplex and use one of the units as an office space. In the case of a business for the reasons I just stated I wouldn’t buy a house.

[Anonymous No.55916011]

>>55915973
>If youre going to start a business you should do it before buying a house.
Thank you, this is what I wanted to hear.

[Anonymous No.55916039]

>>55915947
Really? This sounds like a free energy story.

[Anonymous No.55916046]

>>55915940
16 years was 7 years ago anon

[Anonymous No.55916062]

>>55915804
>tfw redfin is using up nearly all 32GB of my ram.
this must be a sign

[Anonymous No.55916066]

>>55915911
>finance at 2.75%
You cant

[Anonymous No.55916096]

You will own comfortable property for raising children
You will eat fresh steak cooked by your pregnant wife
You will own firearms
You will socialise in your homogeneous community
You will have privacy

And you will be happy.

[Anonymous No.55916222]

>>55915828
This was only true in positive birth rate environments. Jews and feminism have all but insured that population collapse is a thing. And no, importing millions of 70 IQ niggers will obviously not save markets lmao. If you’re not already locked in there’s no reason to ever buy a house in your lifetime

[Anonymous No.55916742]

>>55915852
topkek

[Anonymous No.55917007]

>>55915930
I was literally born just a year earlier

[Anonymous No.55917269]

>>55915804
there is no guarantee of "le epic cash flow" just because you start a business; you could burn that 50k and have literally nothing if your business fails
buying an apartment is the single best financial decision of my life - in 6 years I've made 100k tax free on appreciation (80k down pay on 300k apartment), and the whole time I'm paying negligible interest (also offset by tax deductions), and instead of enriching a landlord I'm paying down my own mortgage every month and growing my net worth. not even accounting for how much nicer it feels to own your home.
also from northern eu

[Anonymous No.55917353]

>>55915912
90% of businesses fail within the first 2 years
t. closed two myself this month

[Anonymous No.55917424]

>>55915828
>Rent only goes up and to the right
Nope.
>>55915828
>Home values only go up and to the right.
Nope.
>>55915828
>Stop coping that rent is better when it’s provably not.
Stop using cope, you don't know what that means.
Housing is expensive, home repair is even more expensive.

[Anonymous No.55917431]

>>55915843
Stop using the word cope.
cope1
/kōp/
See definitions in:
All
Ecclesiastical
Building
verb
(of a person) deal effectively with something difficult.
"his ability to cope with stress"
Similar:
manage
survive
subsist

[Anonymous No.55917436]

>>55915843
>Unless you can convince zoomers to take out 50 year mortgages
Zoomer here.
Leave the west, housing is cheap as fuck outside the US.

[Anonymous No.55917443]

>>55915856
>2.3% loan
Why would I take a loan when I can invest my money?

[Anonymous No.55917449]

>>55915867
>This is the value of owning, so in your final 1-2 decades of life
Maybe have kids and live with them?
Either was you're gonna die, why buy a house?

[Anonymous No.55917451]

>>55915867
>Those who choose to rent will eventually be forced to rent in some low income scum area later in life.
Already there and it's great.

[Anonymous No.55917462]

>>55915876
>can you as a renter do this?
Yeah actually.
I can used my money to buy things, are you being stupid on purpose to goad an angry reaction from anonymous internet strangers?

[Anonymous No.55917466]

>>55915945
>Did you do better renting or nah?
I'm making money.
>Do you write off your rent or nah?
Nah.
>Has your rent ever increased or nah?
No it has not increased.

[Anonymous No.55917475]

>>55915973
>You’re either going to throw the money away on rent or build equity in an asset.
Learn to budget and save, save a nest egg and then invest by DCAing.
Go away, you're immature.

[Anonymous No.55917478]

>>55915973
>If youre going to start a business you should do it before buying a house.
Christ this site is full of low IQ trust funds.

[Anonymous No.55917480]

>>55916222
I see more Africans with houses than white people.

[Anonymous No.55917490]

>>55917436
>>55917443
>>55917449
>>55917451
>>55917462
>>55917466
Who lot of cope posts to say you're a rentoid. The seethe is strong in this one.

[Anonymous No.55917500]

>>55917475
>>55917478
>>55917480
Yikes he's still going. Sad

[Anonymous No.55917523]

>>55917443
Because a 2.3% loan is literally free money if inflation is higher than that, and the asset you buy with it is also appreciating.

[Anonymous No.55917639]

>>55915804
50k saved and your rent is $1700/month for a house. To get mortgage same quality house as rental will need to be around 2500-3500/month.

Rent can increase $1000 more per month and still be less than mortgage. Still have 50k saved for rent increases and emergencies.

Buying house you lose the 50k. Pay more per month and still pay for 30years.

Renting is better in a lot of scenarios.

Ideal scenario: Rent until you can buy entire house in cash?

[Anonymous No.55917683]

>>55915867
>every situation is the US in 1975
No

[Anonymous No.55917759]

>>55917639
Not to mention you’re on the hook for all repairs, minor and major, and appliance replacements as a homeowner. It’s not all it’s cracked up to be. I miss my $650/month 2bed apartment sometimes

[Anonymous No.55917803]

>>55917424
Yeah it goes down and to the left too, when you look back in time.

[Anonymous No.55917845]

>>55915912
Rentoid seething

[Anonymous No.55918797]

>>55915911
>could finance at 2.75%

lmaoooooooooooooo

[Anonymous No.55918856]

>>55915867
>My grandparents bought their place for $30,000 in 1975
>Its now valued at over $3,000,000

and let me guess after that house they didn't invest into any stocks or anything

[Anonymous No.55918911]

>>55915809
>>55915813
Dane here can confirm. Im buying a perfectly liveable house for 175k in cash to avoid OP's dreadful scenario. Its completely possible outside the major cities.

[Anonymous No.55918938]

buying a house was the worst decision of my life. in retrospect there were so many better uses of that down payment money (wound up being $75k). my friends have travelled the world, started businesses, pursued their dreams and I just have this stupid fucking ludicrously expensive house which cost me 2 years of life to save up to make the down payment just for the "right" to spend more on my mortgage than they do on rent.

now I'm 34, absolutely burned on office wagiedom and struggling to pay my way through flight school while shackled to this home ownership nonsense and all I wish I had was that $75k...I don't even care if it were inflation adjusted it doesn't even matter...just so I could quit, finish my licenses and move on with that career.

and its impossible to sell. nobody is buying with these rates. I am stuck with this fucking thing.

[Anonymous No.55918969]

>>55915867
>Those who choose to rent will eventually be forced to rent in some low income scum area later in life.
this is extremely valid and why I bought my house.

what I didn't realize at the time was that I can solve this problem at 45 years old with a 15 year fixed and monster down payment. get it paid off just in time for social security.

[Anonymous No.55918970]

>>55915804
Cheapest 2bed, 900sqft apartments in my area start at around $1250/month and are continuing to climb every year. I value my privacy and space because there are three people in my household so I have absolutely no regrets getting a 3bed, 1500sqft home with a low 3% rate and a monthly payment less than the aforementioned apartment. It's not for everyone but it works for me.

Repairs can be a pain but YouTube and /diy/ are great resources and at least I know it's being handled as opposed to landlord's buddy Cleetus "fixing" it with duct tape and bubble gum.

[Anonymous No.55919485]

Best way(s) to keep a good amount of money during around 5 years from now (starting from around 10% of a house cost up to eventually 40% of same cost by today) safe from inflation in Europe?
I'd consider to but when I already have about 25% of the cost ready to downpay a mortgage but will very probably feel scared AF with 20-30 years of debt so I know I will end up delaying it, while saving money in regular account like a moron.

[Anonymous No.55919512]

>>55915804
People who think this way are usually single and don't have a family that want stability. Imagine having to switch your kids school because your lease didn't get renewed and you couldn't find a rental in the same school district.

There is a reason why home buying coincide with the age people usually have children and settle down.

[Anonymous No.55919555]

>>55915947
You can finance the value of your home - the initial purchase price. So 300k purchase, 500k value is 200k refinance for a mortgage. It is possible but you're no different from 1929's stock speculators going all in on margin. Works as long as it goes up, moment it crumbles you're overleverged and have to liquidate and then you're homeless.

[Anonymous No.55919576]

>>55919512
kek. You make married life seem so great and flawless. Wait until your wife gets bored and starts flirting with other men on one of her 10 social media app platforms. And your children become left leaning tranny lovers who have mental issues and need to live with you until they are 30 just to be able to buy something for themselves. Yea just start a family bro. It will be great you can cohabitate and get a house..KEK

[Anonymous No.55919585]

I'm in my early thirties and bought a house outright with my wife (no mortgage). I can basically retire now, right? Our monthly expenses are low and we have no debt. Should I just work an easy part-time job a couple days a week and get on obamacare?

[Anonymous No.55919605]

>>55915804
>take the money, start a business
Over 90% of businesses fail so this is also terrible financial advice

Just buy chain link (ticker: STINK)

[Anonymous No.55919681]

Bought a small house in the upper Midwest in 2016 for 180k. Two bed, one bath, perfect for just my wife and I. We turned the extra bedroom into her studio.

Originally on a 30 at 2.25%, and then we refinanced to a 15 year before the fed started raising rates again. No plan to move anywhere, so I'm looking forward to not paying anything other than property taxes and maintenence.

House also increased in value by about 100k, but that doesn't matter too much since we're not planning on moving anytime soon.

[Anonymous No.55919950]

>>55919681
How the fuck can’t you pay off a $160k home in less than 10 years if you’re married? Stupid debtor.

[Anonymous No.55920002]

>>55919950
Why would he, you fucking mongoloid? Do you know how little a payment this is? Do you know mortgage interest is a deduction on your taxes? If he has that money in cash he could dump it into a MM account or treasuries and make more than the interest on the loan and use that to pay the mortgage or pay it off altogether for a sweet 2.25% return. JFC are you dumb.

[Anonymous No.55920067]

>>55919576
Married life with kids is stressful as shit as is, I sure as hell don't need more stress in my life worrying about finding new places to live and upending my kids entire social life whenever the landlord decides to fuck you in the ass.

I'm saying there is more to homeownership than just the financial aspect.

I'm not here to debate the pros and cons of getting married.

[Anonymous No.55920085]

>>55917443
You are dumb. If you can borrow at sub 2.5% you can turn around and invest it at a higher rate.

[Anonymous No.55920094]

>>55915804
>that won't be payed off in a lifetime, meanwhile
You only expect to live 20 or 30 more years?

[Anonymous No.55920372]

>>55916096
Where do I vote to make this happen? It sure as hell ain't red or blue.

[Anonymous No.55920403]

>>55915804
Adjusting your numbers for American housing market in a non-midwestern state, a house (not apartment) is going to cost 500k+ and 100-200k down.

There are certain scenarios where you can invest that money and have a higher return that entrapment it in the value of a property. Some asian guy has a video on this in YouTube if you search for 'rent vs buy'. When you put money down, you are suffering from losses associated with not investing that capital. Properties also include interest rates (7%+ now) that cost you a few hundred every month, maintanence costs, and property taxes to name a few. All these costs might outpace your potential rate of gain investing the down-payment in the market +/- rolling treasuries. House values go up what, 4-5% per year on average? Depending GREATLY on where you buy and when you buy. It is very easy to outpace this with an investment plan and cash, however you also have to factor in inflation vs interest rate of the loan, like one anon noted above. Basically there are tons of variables, and I'm pretty sure you can use an equation to calculate short and long term gains financially. Keep in mind also that money spent on interest, maintanence, etc is money that you are not putting into a 401k, which if growth oriented can give you better konger term gains, although that again depends on so many factors.

In the end renting vs buying is highly situation dependent and largely boils down to life style and preference. I'm a nurse and make good money, I also am new in my career, single, traveling, there is a very high chance I'll be moving around during my early 30's. I'll be renting, then buy later. Buying is generally a good strategy however for the majority of people, and you must do this eventually in preparation for retirement and in order to diversify.

[Anonymous No.55920412]

>>55917475
A nest egg is money saved for retirement. Around 1 million is what most people strife for. What are you talking about. You want people to save 1 million before investing? That's stupid. I feel like you're talking about an emergency fund. Not a nest egg.

[Anonymous No.55920693]

>>55915842
>If you sell at a profit you will have to buy another property at a higher price
No, you don’t.

[Anonymous No.55920737]

>>55916066
>>55918797
Millions of people did just that 2 years ago. I closed at 3.875% in 2019 and refinanced at 2.875% on 2021. Im relatively young so lots of people have lower rates. Even a 3.5% mortgage is a great rate.

[Anonymous No.55920794]

>>55915804

The USA needs more affordable housing, all i need is a little kitchen, a shower, washer/dryer and a place to sleep, i don't need some mcmansion that's going to put me into debt slavery, it's actually insane the debt people put themselves into.

The question is why the fuck is rent so god damn expensive.

[Anonymous No.55920816]

>>55920794
States on the west coast literally have laws to keep housing supply low.

[Anonymous No.55920839]

>>55915867
>100x in 50 years
That's just 5%. If they had properly invested the 30k, they could buy two houses now.

[Anonymous No.55920877]

>>55920839
9.5%, sorry. Not great not terrible.

[Anonymous No.55920939]

>>55919681
>House also increased in value by about 100k,
Daily reminder that your house didn't increase in value. The value of the US dollar decreased significantly.

[Anonymous No.55920945]

>>55920794
>I don't need some mcmansion
Yes, but if you're a building company would you rather sell a house for 850k or 150k? Because that's why those mcmansions get built and there's no 150k houses.
>why the fuck is rent so god damn expensive
Because less people can buy houses, more people rent. THe more people rent, the more picky(and pricey) landlords can be, which hikes prices.
And since millenials are the largest generational cohort to not own houses as adults(with Gen Z shaping to be even bigger), prices are through the roof.

[Anonymous No.55921020]

>>55915804
I "only" need like 500K€ to retire minimally (but realistically I'll need 700K to be comfortable), and I'm halfway through there. Accounting for inflation, in 10-12 years I should be there. And I'm not accounting for capital composition, which means maybe earlier, or maybe not.
Or I could buy a house/nice flat, indeed. But what's the point, this won't allow me to retire. I'll save on rent, but definitely will lose in capital composition, and in the ability to retire early. I'd rather retire early, let capital composition do its thing as I'll still have more capital than I need (but composition will be slower as I'll use a bit of the yearly gains for living), and in a few years down the line, buy some housing in a low price area and continue my comfy retirement.
For some reason people do the reverse, which I don't understand, it's inefficient as fuck.
Compose as much as possible while you're young and working, retire early, then buy your housing for your retirement without being dependent on a jobs area. Yet people do the reverse, which tie them up to their office or whatever wageslaving for life.

[Anonymous No.55921187]

>>55920877
it's terrible when you factor in the property tax, insurance, interest they also paid into it, plus maintenance/upkeep. tons of expenses not accounted for in your math.

[Anonymous No.55921824]

>>55915843
>people getting loans at 3% are dumb
>they should buy in cash
>treasury rates are 5.5%

Thanks Dave

[Anonymous No.55921841]

>>55920794
condos exist for low aspiration losers like you

[Anonymous No.55921855]

>>55915804
Buying your own home is the single best financial decision the vast majority of people make. It's one of the few ways to get ahead of inflation and have it work in your favor. You rentoids are a joke.

[Anonymous No.55921876]

>>55919681
>30 at 2.25%

no chance

and even if this was true, you are a retard for refinancing

[Anonymous No.55921920]

>>55920002
to be fair he's probably not paying enough in interest/taxes to warrant itemizing instead of taking the standard deduction, but you're right

[Anonymous No.55921962]

>>55920794
Have you thought about a trailer park? Sounds like that would be your style.

[Anonymous No.55922011]

>>55915804
Due to a housing shortage and continued elevated construction costs, prices will continue to rise gradually overall. There will be corrections in some areas but a lack of inventory will keep those small.

Over time most houses will be rented by large corporations and the ability to build generational wealth by owning your own will be gone for most people. It's the death of the American dream for them. But hey at least my zestimate will be epic.

Buying your own home has long been held as the best investment a person can make. Home buyers have historically built generational wealth by simply owning the home they live in. It's also the best way to ensure that you don't outlive your money when you retire.

The corporations have now figured out how to move that wealth accumulation from the people living in the homes to their own balance sheet. By making homes so unaffordable that most cannot come up with the down payment or hope to cover the monthly mortgage. Now they have a large pool of rent slaves to exploit.

They have practiced this model with mobile home parks for years. Corporate investors make enormous returns off of those. Do those look like they are concerned with quality to you?

[Anonymous No.55922211]

>>55917449
you shouldn't have to live with your kids to not live like shit.

[Anonymous No.55922271]

>>55915804
>Instead you should take the money, start a business. Eventually with the extra cash flow you can buy property and not be imprisoned by the wage slaving system. What does /biz/ think?

Only 25% of new businesses make to the ten year point. Most fail.

[Anonymous No.55922972]

>>55917639
>Buying house you lose the 50k
How do you lose it dipshit? Unless the value of the home drastically decreases over your life (which has never happened) you get it all back. Rent is an expense you never get back

[Anonymous No.55922982]

>>55920693
>No, you don’t.
>only my property increases in value, everyone
t. braindead wojak.jpg

[Anonymous No.55923005]

>>55921855
>Buying your own home is the single best financial decision the vast majority of people make. It's one of the few ways to get ahead of inflation and have it work in your favor.
How if you keep living in the same house and never sell? Also, if you decide to sell you have to move to something cheaper (lower lifestyle quality) in order to make money.

[Anonymous No.55923031]

>>55922972
>Rent is an expense you never get back
So is loan interest and maintenance cost.

[Anonymous No.55923146]

>>55919950
Why would you even want to you fucking idiot? If you have tens of hundreds of thousands in cash you can either pay off your house and save a couple thousand in interest, or invest in low risk to no risk bonds and get twice as much. Let’s say you have 100k on your house that’s $2,250 in interest. That same $100k even in treasuries is over $5,000 right now. When rates lower you can get high quality corporate bonds at 3-4% easily.

Remember /biz/ these are the posters giving financial advice. They don’t even understand a spread

[Anonymous No.55923178]

>>55922982
Who is forcing you to buy another house at a higher price? You’ve never heard of downsizing? Moving to lower cost of living areas when you retire?

But keep going on about me being the retarded one. It’s fun

[Anonymous No.55923205]

>>55923031
>loan interest
Which you pay through renting. Albeit indirectly
>and maintenance cost.
See above. Also some maintenance/repairs can increase your property value. It’s not all written off.

You lose 100% of your rent. You lose 100%-x% to equity. That’s a winning equation long term.

[Anonymous No.55923248]

>>55915828
Thanks but no thanks.
I’ll stick to flipping crypto and renting.

[Anonymous No.55924199]

>>55919576
I find it amusing you completely deviated from his point on owning vs renting and immediately went into cuckoldry and trannies. Were you bored of /b/ and decided to spam your rent-free thoughts on the first board you hopped onto?

[Anonymous No.55924209]

>>55915828
I pay 850 CDN for rent for my own apartment.

[Anonymous No.55924253]

>>55915867
Exactly come 2060 your home is going to be worth 8 million and the wagies paying 15k in rent a month will still be seething

[Anonymous No.55924275]

>>55915947
Neat eh how the mortgage instrument itself IS leverage. And if your home goes up 100k in a year you're offered better levers from banks.

[Anonymous No.55924292]

>>55917269
>owning homes is a better investment than servicing demand within the economy

Huh

[Anonymous No.55924305]

>>55917639
>rent is 1700 for a house

Divide that by two income earners

[Anonymous No.55924318]

>>55919512
Probably shouldn't have gotten married and had children if this would be a problem for you, no?

[Anonymous No.55924343]

>>55924209
>CAD
I would keep that part to yourself, eh. Fuck Treudeau, fuck Quebec and fuck hosers

[Anonymous No.55924466]

Meh, no regrets. Locked in at 4.5% fixed in an okay neighborhood with no plans to move. The mortgage is more than we used to pay in rent but we are building equity and I'm making improvements to the property with my own labor. It's probably not theoretically ideal but it could be so much worse, if we bought today in this market at these interest rates our monthly would be 30% higher for the same exact house. Or we would still be living in a vermin infested building with trashy tenants, fucking bedbugs cockroaches loud dogs loud music bags of trash laying around. People suck, landlords suck, and I'm glad I got away from them.

[Anonymous No.55924550]

>>55924466
i bought exactly a year ago, 4.5% rate. no regrets, i check the inventory/rates daily and couldn't have done better

my interest + tax + insurance is 1450/mo, i have a 4 bedroom home with a 3 car garage and finished walkout basement on a half acre for the price of a 2 bedroom apartment

[Anonymous No.55924582]

>>55915804
>Now you're stuck with a monthly mortgage that won't be payed off in a lifetime,
Maybe if your poor

[Anonymous No.55924627]

>>55924582
Are home owners wealthy or are they poor?

[Anonymous No.55924876]

>>55924627
i sunk $0 into my first house in 2018 and sold it for 220k profit in 2022

[Anonymous No.55925501]

>>55915867
>Those who choose to rent will eventually be forced to rent in some low income scum area later in life.
in many countries landlords can't just raise rents as they please. where i live people can rent the same place for decades at the same orginal price

[Anonymous No.55925788]

>>55925501
Why would anyone in their right mind become a landlord at such a place?

[Anonymous No.55925877]

>>55918856
Why would they need to invest when theyve had a house paid off for decades?

[Anonymous No.55925896]

>>55925501
In many countries? where?

[Anonymous No.55925987]

I mean, I have about 65k saved, and I've been thinking about buying a 250k duplex on a 10 year mortgage to pay 3k/month. In my area rent for 3 bedrooms is 1600/month so it would entirely cover the mortgage, while this is happening I would get a job doing OTR trucking, and live with family maybe 2 days a month, AKA $0 on housing $0 on cars and just stack cash, annual pay for OTR ranges from 60k to 90k. After 3 years it will be more than half paid off then I will use the savings and leverage the duplex to buy a nicer duplex and just repeat the cycle until I can retire, probably like 10 years, the only insurmountable obstacle I can see, as is with many things in life... niggers

[Anonymous No.55926414]

>>55925987
get the 30 year mortgage instead and just make an extra monthly payment if you want to pay it off earlier

the difference in interest rates (10 year - 6.25%, 30 year - 6.875%) isn't large enough to lock yourself into a short-term mortgage, especially when rates are at a 15 year high

just make minimum payments and refinance when the fed finally decides to fuck off

[Anonymous No.55926554]

>>55926414
idk not sure if I completely grasp this but:
30 year: $1,416 x 12 x 30= $509,760
10 year: $2,298 x 12 x 10= $275,760
the difference in principal and interest is substantial but I know inflation will average both down over the course of the loan, but IDK how much an extra 20 years of inflation is going to make, if I pay the 30 year off in 10 years, inflation's irrelevant, ten year and remortgaging when the rate cools down seems like the best option

[Anonymous No.55926848]

>>55926554
if you go with the 30 year then you have the OPTION of making the extra 1000/mo payment towards equity, whereas the 10 year loan you're REQUIRED to dump that into equity.

getting the 30 year loan and making an additional $1000/mo payment towards equity will yield just about the same results because the rates are only 0.5% off, but it gives you the option of sending that equity payment elsewhere if another investment opportunity comes up

also, in the high likelihood that rates are cut within 10 years, you will get the opportunity to refinance at a lower rate, whereas if you are aggressively paying down the balance you will have to take a HELOC which will have a higher interest rate

there's also tax considerations, weighing equity payment ROI vs investing ROI, purchasing power if another property comes on the market...

[Anonymous No.55926941]

>>55923005
the trick is to then move to a country where houses are cheaper

[Anonymous No.55926955]

>>55923005
Also at some point you can "eat your house" if you dont fall for the kids trap. Also dont forget if you have a low interest rate mortgage it stays the same regardless of inflation, while rents increase.

[Anonymous No.55927044]

Op, inherently youre trying to understand if it is smarter financially to buy a house or start a business.

Answer is house, because youre seeing the house option as a liability and not an asset. While the business idea youre seeing as an asset and not a liability.

The risk for a business is incredibly high for people that only have 50k total, if you start a business with that money, what would it be? can you guarantee immediate success? how would you cover operating cost if the business is un-profitable at launch? youre now -50k with no blanket cushion, and still renting. Then business is not financially wise investment.

While house aka property is wise because you presumably have a wage job otherwise how tf did you get a loan or a bank to finance that. Then as a home owner you can launch ya business from there

[Anonymous No.55928132]

>>55926554
He’s saying to get the 30 year mortgage but make extra principal payments so it’s essentially a 10 year. Just because it’s a 30 year term doesn’t mean it has to take 30 years. The monthly payment would be the same and interest difference is negligible. The advantage of doing that is if you need to cut back on payments you have the option of paying less if you need the cash.

[Anonymous No.55928137]

>>55927044
Can't refute this desu
It depends if you are insanely lucky, which most people aren't. Personally I'm absolutely fucking cursed

[Anonymous No.55928190]

>>55915804
Here is where it’s actually pretty cool owning.

Buy place 330k - with 66k deposit (20%)
Mortgage on this is around $300
Value goes up to 390k
Bank now let’s me redraw up to 80% of 390k
Now you have all this money for free to invest and buy more houses.

[Anonymous No.55928220]

I will never pay rent in my life

[Anonymous No.55928235]

>>55915809

>Only $50k down?

Lots of programs out there allow people to buy properties even with $0 down, you just have to be crafty and not be a total doofus.

>>55915867

Renting isn't always a bad decision though, it just depends on the lifestyle one wants to live. If you don't plan on staying in one place for more than five years, renting is probably a better option than buying. Otherwise, yeah, renting for life is a sure way to remain poor, broke, and stupid.

[Anonymous No.55928266]

Buying a house in this environment is only good for one thing only: leverage.

That's the only reason you'd settle for an illiquid single asset (debatable since it requires maintenance) paying out less than other, more attractive assets, such as stocks.

If you're in a comfy apartment, don't need more room and rent is controlled (say via social housing/council), you're better off investing in stocks and leveraging yourself through portfolio loans. E.g. I've loaned 80,000 usd with my other stocks as collateral for 4% (used to be 1% before covid, so truth be told it isn't as sweet a deal as it used to be, but I can deduct the interest so only have to get >3% profit for it to be worth it)
Only downside is not being able to leverage myself as much as people with a mortgage (1:20 leverage @ minimum down payment Vs 1:1.4).

Still, I'm keeping my eye on the RE market while my portfolio grows.

[Anonymous No.55928298]

>>55928220
Based

[Anonymous No.55928332]

>>55928266

If you're in a rent-controlled space, you gotta find a way to get out sooner rather than later. Those types of areas go to shit quickly either through negligent landlords or other shitty tenants

[Anonymous No.55928386]

I feel like this is a personal problem, but I don't know myself well enough to know where I'm going to live for the rest of my life to buy right now. I've moved states twice within the past three years and I haven't found a place where I'm OK with settling down and buying. Meanwhile, I have this one FIRE friend who keeps giving me shit for not buying yet, even though he moved to Atlanta four years ago and decided to stay there back then.

[Anonymous No.55928402]

>>55928220
This.
Fuck landlords.
I will live in Diogenes barrel before I pay a penny to a landlord.

[Anonymous No.55928410]

>>55915842
How long do you expect to live?

[Anonymous No.55928536]

>>55915843
>Rent for 30 years
>The rent goes up but the value of your "investment" is always zero
>$0 goes to equity and you can resell your rented space for $0
>You're down about a million dollars or more
Or
>Take out a 30 year mortgage for a home
>Half goes to paying off the interest
>Other half goes to equity
>Value of the home appreciates on average about 4% per year
>you can also use the full value of the home as leverage to take out larger loans, start a small business, buy a boat, whatever
>you can retire and sell at a net profit virtually 100% of the time
There is a reason why all the comfortable middle class and rich people in your life own homes and all your poor gorilla mutt friends are renting and vaping their paychecks away you fucking broccoli haired zoomshit ape monkey

[Anonymous No.55928548]

>>55928536
you are forgetting the part where
>blacks take over your neighborhood
>property values collapse

[Anonymous No.55929867]

>>55915804
>Assume you saved $50,000 to your name, you think it's time to buy your first property. Now you're stuck with a monthly mortgage that won't be payed off in a lifetime, meanwhile you're -$50,000 (down payment) and forced to become a wage slave for the rest of your life. What kind of financial decision is that?
Mine cost 47 outright.

It'll be worth 125 in a few years.

An excellent decision.

Now go figure out how a screwdriver works.

[Anonymous No.55929989]

>>55928548
>ever buying around blacks
>not having the foresight to move before the infestation becomes terminal
>not driving off the one or two high melanin families when they first show up
Ngmi. Also you run an even greater risk of diversity striking your living situation in an apartment or rental. It’s easier to get away from but more likely to happen and happen more frequently.

[Anonymous No.55930046]

>>55915804
depending on your skills, you don't need money to start a business you just need to network and spend time building your brand. Buying land is probably better than buying a house though, a house is a money sink unless you have renters lined up that won't fuck you over

[Anonymous No.55930359]

>>55923005
>How if you keep living in the same house and never sell?
The point is you need to live somewhere. Unless you live with your parents or in a box under a bridge then renting is always bad.

[Anonymous No.55930482]

I find it hilarious that renters are still trying to find copes about not owning property. The truth is much worse than you think, if you don't have significant equity in land in the near future, you NEVER will, and you will be a 2nd class citizen.

[Anonymous No.55930611]

>>55928548
>leave
>rent your house to some other idiot
>now they're paying your mortgage
Simple as.

[Anonymous No.55930704]

>>55928548
Get in a neighborhood with a simple HOA and this won't be a problem. They have just enough power to keep white trash and low-class minorities out but not enough to be anal about what color of white you chose for your outdoor trim.

[Anonymous No.55931523]

>>55915804
Getting a mortgage is currently a terrible financial decision.
Owning your own house outright is fine as the main reason for owning a home is that you have somewhere to live. I couldn't give a fuck if the price of my house goes down because I already paid it off.

[Anonymous No.55932500]

>>55930704
you don't need an hoa, just call code enforcement

township/city ordinances cover shit that white trash do - hoard junk cars, yard neglect, noise, off leash dogs, etc.

hoa are karens on a power trip threaten you for shit like tire marks in the driveway

ideally you just get enough land so that you dont have to deal with any neighbors - all neighbors suck

[Anonymous No.55932712]

>>55915804
You’re assuming I have the brain power and skills to start and run a successful business

[Anonymous No.55932944]

>just pay ever increasing amounts of rent forever anon

good luck with that over the next 50 years. Enjoy your 300 square foot studio for 87,000 a month in 2035. land owners = ruler class, deal with it.

[Anonymous No.55932975]

>implying salaries don't follow inflation over time
>implying assets put into stocks don't do inflation + much more over time

[Anonymous No.55933104]

Glowie thread. Listen glowie sell this shit to boomers who buy houses every chance they get.

[Anonymous No.55933165]

>>55931523
Even now with terrible rates it’s not a bad idea. Prices aren’t coming down. Yes you’ll get fucked for a couple years with rates but they will drop within 5 years and you can refinance. Better to be where you want to be now than try to wait and get a house with super low rates when everyone is trying to do the same at the same time.

[Anonymous No.55933918]

>>55932975
>implying salaries don't follow inflation over time
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

[Anonymous No.55934191]

>>55932975
What world are you living in?

[Anonymous No.55934308]

>>55934191
>>55933918
Not the same as yours apparently. My salary increased (again) and I didn't even need to ask, which I did last year, and on top of it I'm moving up the ladder in November. So yes, when you run your career properly, your salary will follow, or rather, beat inflation.
Sorry, it's my fault for assuming /biz/ wasn't full of wagecucks with zero career perspective. In that case, yes, I can see why there are concerns about muh rent going up forever. Otherwise it's a non-issue, as rents go up slower than salaries over a properly managed career.

[Anonymous No.55934359]

>>55915804
thanks for the rent kiddo

[Anonymous No.55934360]

Buying a house is never easy. There is never an easy time to buy a house. But it is a solid way to build for your future with many other side benefits.

I have 2 properties now, a 4bdm house in the city and 5 acres outside another city. I need 1 more house and I can retire on the rental income.

[Anonymous No.55934408]

>>55934308
>beat inflation
just barely
except you forgot to mention the expectation of more productive output and responsibility over time while coping HARD with mental gymnastics to convince yourself it was somehow all worth it

[Anonymous No.55934650]

>>55915867
>The median rental for a house in their location is $1200/week which is $62,500/year
How is this sustainable?
Factory goycattle can't afford this surely.

[Anonymous No.55934711]

>>55934650
To be fair it’s in a high net worth area, they bought back in the 70s when it was a factory worker area near the port of the city, all the factories got shit down a long time ago and it slowly gentrified into a upper class area. My grandparents were the factory workers who stayed there. All of the factory workers they know who left moved out and bought massive properties in the suburbs

[Anonymous No.55934758]

This cretin makes this thread ever 1 or 2 months whenever he needs to cope with the fact that he'll never own his own place and has to pay his monthly existence fee to man like me. Just ignore him before he brings up his apple stock again.

[Anonymous No.55934767]

>>55931523
Assuming you can afford it it's worth it even now. Nothing is worse than renting since it's a net zero.

[Anonymous No.55935347]

>>55928132
I'm saying that the interest rate is not negligible, rate is like .84% difference, you would be paying 234,000 extra, if you pay 2298 a month into the property in the 10 year mortgage after 3 years it would be about half paid off, if you did that in the 30 year it would be a little over a quarter for the same money, what might work better is getting the 30 year and paying minimum and keeping the money to buy the next property in your bank, but inflation would affect this unless you buy stocks which I'm not fond of.
When you put your property up as collateral do they use the current market value or the original purchase price? If they use market value it'll appreciate and I could use the thing as a bank instead of taking stocks

[Anonymous No.55935390]

>>55915804
>>55920877
>not counting the 50 years of rent they saved
the cool thing about a house is that you get to live inside it

[Anonymous No.55935505]

There are people right now that refinanced or bought at 2.5% living in HCOL cities and paying less than the current median rent. Saw this shit happen in DC and the renters would be seething when they see somebody paying $1600 for a 3br 2b house in the city.

[Anonymous No.55935740]

Hi senpai, my wife and I just bought our first house at 7.25% interest rate for $1.25M. The monthly payment is insane but we can even pay it easily with just one of our salaries, not to mention our RSU which we aren't touching (both in tech). It's in a well to do part of town with lots of tudor revival homes and trees. I haven't actually closed on it yet but the contract has been accepted. I'm getting sick thinking about all the repairs needed (its old, has knob and tube wiring, upstairs needs internal painting), but this thread is confirming my intuition that if I don't get it now, I'll never have the opportunity in the future. Missed out on the 2.5% houses two years ago, put three offers in and got blown out every single time, 200-300K over asking price. Because the place was off market and they didn't stage it yet the purchase price was much lower than all the redfin estimates, zestimates, whatever. Hopefully we can invest in this property over time and make it nice. It's about 2400 sq ft. We just had a kid and dont want to keep throwing our money away on rent all the time, and we want our kid to walk to a nice elementary school.

[Anonymous No.55935751]

>>55935740
The foundation has significant seismic upgrades, no cracks, and roof is new. Some people online keep pointing at buy vs rent calculator but i just dont care i want to fuck my house up and drill holes and a deck and all that stuff I can't do when I'm renting.

[Anonymous No.55935844]

>>55918856
Lol. Why the fuck is Coca Cola valued at five times earnings?
They have zero growth.
The stock is massively overvalued.

[Anonymous No.55935866]

>>55935844
meant five times revenue
five times earnings would be about fine

[Anonymous No.55936190]

>>55935347
>you would be paying 234,000 extra
christ, i'll try to be nice and not call you names

if you went with the 30 year mortgage, you would have the OPTION of making an ADDITIONAL monthly payment that would pay off the mortgage in 10 years for essentially the same amount as simply taking the 10 year mortgage

this gives you the flexibility to decide if you want to make that payment towards equity, or invest elsewhere

[Anonymous No.55936277]

>>55930482
I find it hilarious debtors seethe at renters not owning property because having a mortgage means the bank owns the property. Unless you have your house paid off you can't say you own it.

[Anonymous No.55936955]

>>55915804
>What does /biz/ think?
Owning a home as an investment is a terrible fucking investment. The only reason to own a single family residence is for - SURPRISE - having a family and living in it. This is backed up by every single piece of data I've ever researched.
>Equity
You get more return on your equity for less time spent buying the S&P by dollar cost averaging.
>Time
People on biz by and large do not actually own their home so they don't fucking understand how much of a pain in the absolute ass it is.
>Cost
People on biz and in real life also completely underestimate the on-going costs and fees in owning a home.
>Instead you should take the money, start a business.
I think you don't know wtf you're talking about. "Start a business" huh... have you done any research into the costs of operating a business or what "business" you're going to start? The vast majority of businesses fail.

What you should actually do is look at your life, look at how you make your money now, and think critically about what you could do in the future. Then you should use your $50K to help get you there along with your hard and smart work.

Everyone always having pie in the sky dreams and shit without doing the work. I swear.

[Anonymous No.55938015]

>>55933165
The problem is that not only is the housing market a massive bubble, but you are currently paying a high rate of interest on top of that.
Prices should have come down when interest rates went up but they didn't because people are already in over their heads with their mortgages.
When rates were this high in the past, housing was proportionately cheaper. Now, the market has had so many years of low mortgage rates the average cost of housing reacted like low rates were a permanent fixture of housing. Now rates have gone up even a few points You've basically doubled/trebled the cost of a house in a market where people were already over extended.

[Anonymous No.55938966]

>>55915804

Renting is the solution for a small group.

The rest of us want to have a family and geographical, financial stability.

[Anonymous No.55939228]

>>55936955
can you get a 200k loan on your 40k wages for the sp500? didn't think so.
so fuck off with that bullshit about stocks better than equity

[Anonymous No.55939300]

>>55915809
Ha i bought a house with 13.5k down. In US, you can FHA with nothing down and most places i think minimum is 3.5%

[Anonymous No.55939326]

>>55915804
Why aren't your parents giving you their house?


I'm just 25 and a renter right now but my dad has written that I'll inherent his 300k home when he dies (he's 75 and drinks and eats fast food) so I have a places secured for my early 30s.

Isn't this the standard?

[Anonymous No.55939336]

>>55939300
usda is even better, lower PMI, no 100% financing, and cheaper rates

first house i bought was 97% financed by bank and 3% financed by a down payment assistance program (forgiven after 3 years)

[Anonymous No.55939443]

>>55939228
I never had any issues getting a loan for my stonks market buys. I simply leverage. And the solutions are plentiful. No different than leveraging yourself 5x for buying bricks.
Kek I remember how I took a 30K€ 1% consumer loan during the covid crash and put 2/3 of it in the 2x leveraged QLD, 1/3 of it in XOM. Leverage on top of leverage, and even there I was conservative. Granted, I wouldn't do that in today's conditions though, not only because we're near ATH with no dip to profit from but also because 1% was literally free money that just doesn't exist anymore. Risk is not the same as it was, especially compared to housing.
But the solutions are always plenty when it comes to the stocks market.

[Anonymous No.55939471]

>>55915804
>won't be paid off in a lifetime
Maybe if you're financially stupid.

[Anonymous No.55939549]

>>55915804
You don't need savings to start a business. If you have a business strategy that is good enough you should be able to get investors. If you can't manage that sort of thing then you probably aren't cut out for starting a business. As for mortgages, it's not always worth it but in many cases it is.

[Anonymous No.55940189]

>>55919512
just home school your kids. Problem solved.

[Anonymous No.55940593]

>>55939443
mortgages and consumer loans are different

[Anonymous No.55940799]

>>55939326
That assumes some of our parents even bought a home to begin with. For others our parents fumbled basic finances and still have a mortgage. I'm 27 and my parents are still a decade away from paying off a 2br, 1 bath, 900sqft shack that needs more work than is worth. My grandparents took out two reverse mortgages and still owe $90k on a home they bought in the early 70s. Neither of her two sons are financially secure so I'm poised to buy the home and rent it out.

[Anonymous No.55940824]

>get married
>have a kid
>buy a house
>divorce
>move out to shitty apartment, pay for mortgage and child support

[Anonymous No.55943006]

I just bought a house with 80k down
Most of my savings wiped out
Banks own my ass for life
But at least I don't live in an apartment next to niggers

[Anonymous No.55943038]

>>55940824
the house didn't do it to you, the bitch did
a house would never, a house is loyal

[Anonymous No.55944031]

>>55918970
Fuck off, Jew.

[Anonymous No.55944064]

>>55915804
Only if you're a poorfag for income. With $135k starting salary, thanks to tech job, I could buy a house and pay it off in a few years with very little mortgage interest.

[Anonymous No.55944170]

Imagine renting. Even worse, imagine renting an apartment, LOL!

[Anonymous No.55944455]

>>55920794
The US needs less niggers, pablos and streetshitters = means less jews. Gas the kikes.

[Anonymous No.55944465]

>>55921841
Fuck off, cul de sac of shit suburban tranny loser. Go make more antifa losers like yourself.

[Anonymous No.55944470]

>>55921962
Oh noooo, not white people. How terrible.

[Anonymous No.55944518]

>>55928536
And then the chinese comes or the pendejo beaner mafia boss and ethnical cleanse you from your shitty texas mansion you paid off 30 years. Kys jewish nigger.

[Anonymous No.55944530]

>>55915804
I own a home, also own a rental home, and also rented myself for over 10 years.
I think they're all smart financial decisions depending on your goals. None of them is objectively worse in all scenarios.

[Anonymous No.55944542]

>>55920372
you have to move somewhere else

[Anonymous No.55944611]

What is a better rental property to invest in as a first time buyer, condo, duplex or single family homes?

[Anonymous No.55944637]

>>55915804
I refied 2 years ago to a 15 year 1.99%. I hope that's not considered the rest of my life.

[Anonymous No.55944917]

I bought in 2018 for 40k with 7k down in a area I was betting on gentrifiying. Did some light repairs myself and paid about 20k for major repairs. It is now worth 80k-100k and I pay 550 a month for an entire house while rentcucks cry on the local subreddit about paying 1500 for a 1 bdrm and cant find a place to rent. Prices are never coming down, they will crab for years. All the owners have good credit and cash to handle emergencies and are paying 2-4% interest. No one will sell, so prices wont come down.

[Anonymous No.55945232]

>>55936190
anon your 30y pic uses a higher IR than the 10y
at 6.25 and 30y+1k/mo it's only 70138.62 interest total

[Anonymous No.55945632]

>>55939326
I live at home, single mum rentoid, even boomer grandparents only bought a 25% shared ownership. Multiple generations of failure desu

[Anonymous No.55945701]

>>55916222
>importing millions of 70 IQ niggers will obviously not save markets lmao.
>>55917490
>Who lot of cope posts to say you're a rentoid. The seethe is strong in this one.
>making assumptions.
Lmao, I'm still posting in this thread.
>>55917500
>Yikes
Big fag alert.
>>55917523
>loan is literally free money
You're beyond dumb.

[Anonymous No.55945705]

>>55917639
>Rent can increase $1000 more per month and still be less than mortgage. Still have 50k saved for rent increases and emergencies.
>Buying house you lose the 50k. Pay more per month and still pay for 30years.
Why not just leave the west where housing isn't fucked?
>>55917803
See, you can't sell something if NOONE is buying.
>>55917845
>Maybe if I tell him he's angry he'll be angry.
No one is angry you're making stuff up on your head.

[Anonymous No.55945711]

>>55918938
>now I'm 34, absolutely burned on office wagiedom and struggling to pay my way through flight school while shackled to this home ownership nonsense and all I wish I had was that $75k...I don't even care if it were inflation adjusted it doesn't even matter...just so I could quit, finish my licenses and move on with that career.
Why not sell everything, get a cheapest house and then finish your license?
Why do you faggots think owning a house is some flex? No one cares.

[Anonymous No.55945717]

>>55919512
>Having kids before having a house paid off.
>>55919605
>Over 90% of businesses fail
They fail because you ass holes buy up restaurants and sell junk food goy slop.

[Anonymous No.55945725]

>>55920085
>borrow
I'm not getting into debt, fuck off.
Why should I take a loan when I'll have to pay it back, with interest.

[Anonymous No.55945738]

>>55920412
>A nest egg is money saved for retirement. Around 1 million is what most people strife for.
That's bullshit and you pulled it out your ass, go away you fucking faggot midget.
A nest egg is X amount of dollars you saved.
I started with 20 bucks.
You kids are so fucking pedantic, it's crazy how you make these statements.
>nest egg
/ˈnest ˌeɡ/
noun
1.
a sum of money saved for the future.
"I worked hard to build up a nice little nest egg"
Fucking sped.

[Anonymous No.55945740]

>>55920412
>That's stupid. I feel like you're talking about an emergency fund. Not a nest egg.
You're so fucking stupid.
Most 4chan users are very dumb and think they're intelligent.
Go look up the definition of a word before you use it and out yourself as an idiot to the rest of us who aren't illiterate.
>1 million.
A number you made up in your head to put words in my mouth.

[Anonymous No.55945748]

>>55920794
>The question is why the fuck is rent so god damn expensive.
Supply and demand, white people don't want section 8 because niggers or something.
So housing will constantly go up because NOONE in the USA wants cheap, affordable housing.
Leave the west when you can, I am.

[Anonymous No.55945753]

>>55921855
>You rentoids are a joke.
Sure whatever.
>Spending 100k USD for ply wood and plaster.

[Anonymous No.55945755]

>>55944470
Honestly yeah, white people can be pretty lame.

[Anonymous No.55945761]

>>55945632
>single mum rentoid
Better teach your kids to work 40 plus hours a week and NEVER EVER kick those kids out.
They can earn money when they're older and you can all put in money to pay off a house.
Never kick your kids out, it's fucking dumb, you ruin your relationship and you piss away the opportunity to save money and help with bills.
This is why immigrants are better, they stack like a dozen to a house.

[Anonymous No.55945772]

How much would you save on interest paying a mortgage weekly instead of monthly? Would it make a significant difference?

[Anonymous No.55945883]

>>55930704

lol our condo association just voted to let the FHA qualification expire so that people on government housing programs and those with Fannie Mae loans cannot purchase here

[Anonymous No.55945926]

>>55919555
And that is when my greedy ass is going to buy.

[Anonymous No.55945929]

>>55945772

Do you mean the equivalent of a monthly mortgage paid weekly? You'd probably save a fair amount in terms of interest. You could also find yourself strapped in terms of cash flow, though

[Anonymous No.55945937]

>>55945748

>white people don't want section 8 because niggers or something

Even black neighborhoods don't want section 8 around them. Why would anyone want ill-disciplined little bastards running around and destroying things while their moms refuse to take accountability for anything? It's a recipe for disaster and a surefire way to get property destroyed

[Anonymous No.55946390]

>>55923005
>How if you keep living in the same house and never sell?
Because you save money, which you can then spend/invest as you please?

[Anonymous No.55946488]

>>55945883
giga based, why doesn't everyone do that?

[Anonymous No.55946551]

When I started renting the cost of my 1 BR was $836
In just two years it went up to $970
When I closed in 2021 my PITI became $1125
Now that 1 BR apartment is $1150

buying is a bad decision but renting is so so much worse

[Anonymous No.55946609]

>Started renting my current flat in 2017 @ 740€
>Currently at 804€
I literally don't care. My divies alone going up covered the difference, not to mention the massive increase in the principal.

[Anonymous No.55946621]

I live in Soitheast Asia. My apartment is $60 a month. Non-furnished, but has a bed, kitchen, air conditioning, cable tv, and wifi. This is on the top floor near, the city center, with free parking for my scooter and bicycle. Utilities are charged government rates... Usually ends up being between $15 and $150. Only difference is how much AC I use.
I know other expats who have nicer apartments than me. They still pay less than $150 per month on rent. None of us have a contract. Month to month, pay in cash. You can live in a fully western furnished apartment with a pool for less than $400.
The bottom line is, if you are young, single, and make your money on line, there is no reason to stay in western countries. I've been at my apartment since before covid.

[Anonymous No.55946686]

>>55946621
Neat, how do you deal with language and cultural barriers? Couldn't really deal with SEAmonkeys the rest of my life though desu

[Anonymous No.55946733]

>>55946621
That's really low, which SEA country is it?
I'm not much of an adventurous guy, I think I'd simply go to, I dunno, Portugal or something. Country is nice, weather on the coast is good, country is not the cheapest but cheap enough, you have access to good modern medicine for the old days, and it's a simple flight away from home for the family.

[Anonymous No.55946774]

>>55946686
It's a challenge sometimes, but the people in my city are also used to foreigners. It's not like you're the only foreign person here. Any major city in Southeast Asia is going to have a lot of expats and foreigners. There are a lot of expats here in my city. Tuk tuk drivers and restaurants, etc. will often know a little bit of English. At my apartment complex, there is someone who speaks English who is a family member of the owners. That's how I communicate with the owners. There is also Google Translate. If you get a girlfriend who speaks English then you don't even have to worry. Worst case scenario, you can't communicate, and you just move on. Oerall, you just get used to it. It's so easy to live here. My mobile internet is $1 a week. A tuk tuk across town is $1.50. Dinner is $3 at a restaurant. If you want a scooter you just buy one for a few hundred dollars. No complicated paperwork, Etc.

[Anonymous No.55946812]

>>55946733
I'm hesitant to say because I kind of don't want everyone flooding here, lol. But it's close to Thailand, and not Malaysia.

>I'm not much of an adventurous guy

It couldn't be easier to live here. Crime is low... It's relatively mundane. There's even a Burger King and KFC nearby. Lol. The heat is bad though. You want an apartment with AC and ideally, a nearby pool. Humid and hot all the time. Although, you could live near the ocean if you wanted.

[Anonymous No.55946890]

>>55944917
WTF did ya buy for $40k?

[Anonymous No.55946934]

>>55946890
Detroit crack shack probably

[Anonymous No.55946977]

>>55915856
Nobody is getting a 2.3% loan right now and there’s no guarantee house values will rise like they have for previous generations. All of this is moot because the real problem is not whether or not buying a house is a good investment, but that entire generations have been locked out of buying a house whether they want to or not. It is simply not an option for most young people.

[Anonymous No.55946991]

>>55928536
There’s no reason to expect that home values will rise for you at 4% per year just because that happened in the past.

[Anonymous No.55947026]

>>55915867
Nobody is surprised that you can’t afford a luxury condo if a modest pension is your only income…

It’s entirely possible that they spent and will spend more on the house than rent.

[Anonymous No.55947038]

>>55939326
Baby Boomers and Gen X sell their homes to fund retirement and end of life healthcare. They spend every penny and their kids get nothing, no matter how much the house was worth.

[Anonymous No.55947046]

>>55928386
This is also a problem for millenials. They also don’t want to buy back home because many times “back home” has become a shit hole in the last 20-40 years.

[Anonymous No.55947067]

If you buy real estate, prepare to get raped by the following:-
1. Property Tax
2. Maintenance, new houses are pre-builts and designed to fail in years. Old houses have loads of problems from leaks to electrics.
3. Impossible-to-pay-off mortgages with rising interest
4. Diminishing ROI

[Anonymous No.55947071]

>>55920403
Buying WAS a good strategy*

[Anonymous No.55947092]

>>55947067
Maintenance is easy if you're not retarded, once fixed nothing major should break in your lifetime

[Anonymous No.55947161]

>>55915804
>monthly mortgage that won't be payed off in a lifetime
>rest of your life
Thinking that 15 years is rest of your life is very pessimistic anon, you will live more than 15 cheer up

[Anonymous No.55947788]

>>55921962
not only do you have to pay a mortgage for the trailer but also ground rent to the trailer parks

[Anonymous No.55947884]

>>55921020
Good thinking. I doubt that many people want to live where they once decided to buy their home during their working years.

[Anonymous No.55948524]

>>55946890
A rowhouse in the urban blight area surrounded by the college area and gentrifying areas. Now three blocks away from me is totally gentrified and my area is next. Once you see white women walking their dogs on yr block Starbucks and Whole foods in coming within a few years.

[Anonymous No.55948577]

>>55945725
oh fucking low IQ retard