/biz/ - Business & Finance

[Anonymous No.56043042]

>mom's home has been on the market for 4 hours
>4 fucking hours that's it
>6 offers, all over asking
>3 bed 2 bath townhome that hasn't been updated since like 2004
>in a nice suburb of a major city in florida
>she can't even GET flood insurance, much less a good rate
>interest rates are well over 7%
>home is listed for 650k
>even with a 20% down payment that'll require a ~$4800/mo payment

WHO THE FUCK IS BUYING THIS RIGHT NOW?

[Anonymous No.56043053]

>>56043042
>Frog poster memes and shitposts
Gtfo larper

[Anonymous No.56043059]

>>56043042
fucking suburban rats glad i live in the sticks

[Anonymous No.56043071]

>>56043042
A boomer with too much money that will pay cash for it, renovate it, and probably die in it, so they don't care about resale value.

[Anonymous No.56043081]

>>56043071
we should just send boomers to gas pods they’ve had it too good too long

[Anonymous No.56043087]

>>56043042
my guess is airbnb. very popular in Florida, and as long as you bring in more than the mortgage costs you're building that equity.

that's at least the boomer logic. realisitically this is big big big 2006, maybe even 2007, energy. very bearish.

[Anonymous No.56043110]

>>56043042
Just because you’re a houseless NEET doesn’t mean the rest of us are. That seems pretty reasonable to me considering the location. Housing demand is stronger than ever, the economy is plugging a long, and most people have growing salaries and lots of cash stockpiled. If rates go down even a teeny bit housing will pump and you’ll be wanting to kill yourself for not holding out and selling for $1.25M in a year.

[Anonymous No.56043120]

>>56043110
>Housing demand is stronger than ever, the economy is plugging a long, and most people have growing salaries and lots of cash stockpiled.

[Anonymous No.56043129]

>>56043110
except the rates are
never
going
to
go
down

[Anonymous No.56043145]

>>56043042
This all happened in your head

[Anonymous No.56043200]

>>56043081
They are definitely going to get abused in elder homes with all the awareness of how they fucked up everybody’s life

[Anonymous No.56043208]

>>56043042
This makes me sad it’s been my dream to live in Florida and now I can’t since everything got expensive right when I started having some money

[Anonymous No.56043218]

>>56043087
>my guess is airbnb. very popular in Florida
I'd understand this in another scenario, but the local HOA limits rentals to a minimum of a 1-year lease. Now granted that isn't taking into account doing it illegally, but I doubt that's what's going on.

[Anonymous No.56043271]

>>56043053
>>56043145
What reason would I have to lie about this.

[Anonymous No.56043284]

>>56043120
I know you don't want to hear this, but this is the new normal. You have to accept that.

[Anonymous No.56043634]

Don't let your mum sell her house to Blackrock.

[Anonymous No.56043653]

>>56043271
>Mum

[Anonymous No.56043654]

56043110
(You)

[Anonymous No.56043667]

56043284
(You)

[Anonymous No.56043678]

>>56043653
seems sus? only bongs and cunts call their mothers "mums" right?

[Anonymous No.56043683]

>>56043678
(cunts as in australians)

[Anonymous No.56043691]

>>56043271
>American
>Mum
Nice larp retard, ya blew it

[Anonymous No.56043711]

>th-th-the economy is fine guys, see...
>posts a flimsy larp full of holes
kek the state of shills and bots these days

[Anonymous No.56043712]

The housing market's back and better than ever!

[Anonymous No.56043716]

56043712
(You)

[Anonymous No.56043719]

>>56043110
>Housing demand is stronger than ever, the economy is plugging a long, and most people have growing salaries and lots of cash stockpiled

here we have the classic home baggie feeling regret for fomo buying a 30 year bag

[Anonymous No.56043735]

>>56043271
>Florida
>Saying “Mum”

Choose one
Nice larp Nigel, Almost had me

[Anonymous No.56043802]

>>56043271
>Mum
Didn't Andrew Jackson toss you lot out of Florida?

[Anonymous No.56043823]

>>56043271
YOU BLEW IT

[Anonymous No.56043897]

>>56043653
>>56043691
>>56043735
>>56043802
>>56043823
Dear god you guys are no fun. She's from Ireland it's a long standing family joke.

>>56043208
It's not all it's cracked up to be anon, espeeeecially if you're a young professional. COL is through the roof and wages are *not* keeping up. I'm in NC now and it's a lot more manageable, but still pretty expensive. I'm making almost double what I was offered for the same job (tech consultant) in FL.

>>56043634
I'm going to look over the offers later tonight or tomorrow morning and see if any are IBuyers - I'd imagine all of them are honestly. Will be interesting to see how they structure them.

[Anonymous No.56043926]

>>56043042
rentoids sisters, we lost

[Anonymous No.56044654]

mum lmfffffao

[Anonymous No.56045033]

>>56043042
half the market is cash buyers in coastal FL, and even if they have cash, 7% mortgage isnt terrible for them

florida is a state full of boomer transplants who sell their properties up north and move down there to retire

boomers can dump their cash into treasury bills/CDs/high interest accounts at 5.5%, take out a mortgage at 7%

on a 520k mortgage, you pay 3k/mo in interest the first year, or 36k/year

standard deduction is 13k, meaning a net 23k interest deduction on their taxes, getting back ~24% of the 23k ($5,520)

total cost of mortgage for year one is ~30k, of 5.77%

they dump their 520k into treasury bills, CDs, high interest accounts at 5.5%, earn 28k/year before taxes (~21k/year after taxes)

net cost after year 1 = 9k on a 520k mortgage, or 1.7%

mortgages always cost ~2% for people with cash, regardless of the rate, because rates rise/fall with treasury yields, and cash buyers can just dump their cash into securities instead

and this is assuming there aren't more deductions - they're likely getting back more than 5520 on their interest deduction

if rates fall, they refinance and gain equity

if rates rise, their investments in securities pay more than the interest they pay towards their mortgage

it's win-win

[Anonymous No.56045044]

>>56043042
Black Rock

[Anonymous No.56045060]

>>56045033
>it's win-win
for the boomers, not for first-time homebuyers

[Anonymous No.56045082]

>>56043042
>88 milly dollar dubai Airport style house
>developers
>yilmazor
>chen
No idea....
Also note chen is jackin' juice but does a little nervous drum roll at the start
>asain_punch_own_face.mov

[Anonymous No.56045095]

>>56043042
blackcock is buying 90% of homes right now

[Anonymous No.56046529]

>>56045095
Blackcock is the most popular search term for Scorch Coin right now as more and more people are beginning to understand the power of Scorch. Buying Scorch is the best investment you can make right now in an overheated real estate market. When you can't afford to buy a house, buy Scorch

[Anonymous No.56046558]

>>56043071
I always find it funny when people pay exhorbitant amounts in cash, with T-bills at 5% (taxfree)
That 650k puts you at 2.7k in monthly coupons from T-bills, enough to pay rent while waiting for a drop.

[Anonymous No.56048094]

>>56043719
Rent is due in 3 weeks, wagie!

[Anonymous No.56048118]

>>56045060
>first-time homebuyers
There will be no "first time" for you. You are a rentoid.
The landed gentry always wins.

[Anonymous No.56048266]

>>56043042
lol Florida is still booming when it comes to real estate, my parents just got a cold call offering the $1 million for the house the bought for 400k in 2014.

They aren't interested though, it's on the water and their retirement home.

[Anonymous No.56048348]

>>56046558
Yeah right now T-bills at 6.5% are a no brainer and will definitely outpace any crypto assets over the next year or two. People are so addicted to the idea of "getting rich quick" that they don't even think about the safer and more productive investments they can get in cash right now. I've got some Scorch tokens to hedge against inflation but I'm not selling my T-bills any time soon. I think when the next big cycle begins in crypto, Scorch will lead the way