/biz/ - Business & Finance

[Anonymous No.56631015]

you basically need a $175k household income to afford a shitty $400k starter home

[Anonymous No.56631098]

>>56631015

And there's nothing you'll do about it.

[Anonymous No.56631100]

>>56631015
uhh nigga i own my condo and make like 20k a year

[Anonymous No.56631831]

Boomers really fucked shit up didn't they...

[Anonymous No.56631841]

>>56631015
1 link in 2 years. Based

[Anonymous No.56631854]

>>56631015
fuckin move somewhere else then.

[Anonymous No.56631867]

>>56631015
pretty sure you and your wife each making $45k could buy in just fine

you got married, right anon?
anon?

why would an incel even need a house in the first place? Need the extra room for your gaming laptop and funkopops? Walk in closets for your fur suits?

[Anonymous No.56631908]

>>56631100
hows it like in the nebraskan panhandle? any tornadoes?

[Anonymous No.56631912]

>>56631015
>shitty starter home
>$400k
do you live in NYC or something? here in Texas you can still get a shitty starter condo for $200k, and a shitty 3 bd / 2 bth, 1500 sqft starter house for $300k

[Anonymous No.56631921]

>>56631867
>pretty sure you and your wife each making $45k could buy in just fine
no, you're wrong and you haven't run any numbers. i make $100k myself and my gf makes $40k and we are nowhere near being able to afford a $400k house even with 20% down.
>>56631854
move where you dumb nigger. houses are 50% cheaper in my hometown. salaries are 50% lower as well. meanwhile the fixed expenses are fixed, like food/utilities/transportation/etc.

[Anonymous No.56631928]

>>56631912
exurbs of philadelphia

[Anonymous No.56631972]

>>56631921
>i make $100k myself and my gf makes $40k and we are nowhere near being able to afford a $400k house even with 20% down.
I see you've never applied for a loan.

at 8% plus on a 30 year fixed your payment should be a cunt hair over $3k and your required income should be about $10k/mo and that's with 0% down.

with 20% down you'd be well below the income requirements in the US.

nice try though.

I feel like you incels think if you buy a house, you'll finally get laid. This is true, women do fuck homeowners. But that's not how things work in real life. What actually needs to happen is you get laid BEFORE you buy the house. Get yourself a working girl, marry her, and buy a house. After that you can fuck all the women you want, but you probably won't want to.

[Anonymous No.56631983]

>>56631015
No you don't. In the UK average salary is £32k a year and average house price is £290k and we manage.

[Anonymous No.56632003]

>>56631972
>I see you've never applied for a loan.
i see you're a dumb nigger who doesn't know how to use microsoft excel. i work in accounting. i know how much i can or can not afford.

[Anonymous No.56632011]

>>56631972
>Thread about housing.
>Stupid woman posts her worthless opinion and immediately makes everything about sex

[Anonymous No.56632033]

>>56632003
got caught in a lie, did ya?

Lets do the math, kiddo.

$400k house with 20% down ($80k) is a loan of $320k

$320k financed at 8.3% is $2421 monthly or almost $30k per year.

to get that loan, the bank will require your monthly payment to be no more than 28% of your income, meaning you need income of $100k per year to get the loan.

you say you make $140k per year and can put 20% down, but can't afford the loan that requires income of $100k

you're full of shit.

[Anonymous No.56632039]

>>56631972
>>56632003
here are some numbers fresh out of excel for your black nigger ass.

my income is $5k/mo take home after healthcare and 401k. my gf's is $1.9k/mo after healthcare and 401k. total of $5.9k, round it to $6k.

combined bills for us both:

$200 car insurance
$200 car usage/maintenance
$700 food
$120 cellphone
$70 internet
$600 student loans

that's $1900/month. add in $100/moth misc expense to make the numbers easy.
$6k take home - $2k expenses = $4k left for a home

$400k with 20% down at 8% is $2350/month.

$2350/month mortgage
$600/month property taxes
$200/month home insurance
$300/month utilities

that's $3.5k/mo. we're down to $500/month personal savings between the two of us. better hope literally NOTHING in the fucking house breaks, or we need to go to the doctor, or we want to do ANYTHING other than wageslave to barely afford a shitbox starter house.

[Anonymous No.56632048]

>>56632033
see this post you 65 IQ nigger retard >>56632039 i really don't understand why the jannies allow drooling extra-chromosomal retard NIGGERS to use this board.

[Anonymous No.56632060]

>>56632039
>healthcare and 401k
kek

you have no idea how people buy houses, do you?
protip, they're not buying health insurance and making retirement contributions for the first 20 years at least.

You can GET the loan, but you're not smart enough to pay the loan is what you mean.

and if you had more money you'd just waste that on stuff you don't need as well.

[Anonymous No.56632069]

>>56632048
I'm talking about what income you need to get the loan

you're talking about how you waste most of your income on stuff you don't need.

that's a YOU problem.

[Anonymous No.56632075]

>>56632060
i'm talking to a white nigger in a single wide trailer, aren't i?

[Anonymous No.56632079]

>>56632075
look, if your expenses are too high to afford a house despite making 3x the normal income,

and other people are buying houses with a third of your income,

the problem is YOU, not the economy.

[Anonymous No.56632089]

>>56632079
good morning cletus. smoke any meth off aluminum foil in your single wide trailer living room lately?

[Anonymous No.56632143]

>>56632089
I have a house, you do not.

you might want to listen to what I say.

you're young, right? In good health?
if you're not in good health, get on disability and give up on ever owning a house in the US.

if you're healthy, drop the health insurance and retirement contributions, get a flip phone, buy cheaper cars and internets, eat home cooked food, do whatever you need to do because you're spending like a motherfucker and will never afford a house.

[Anonymous No.56632157]

>>56632143
if your personal reality is anything like your mentally retarded advice which you ignorant dole out, you cannot afford a house. you are a paycheck to paycheck retard barely skating by. in the event of ANY economic downturn you will lose ""your"" house.

[Anonymous No.56632167]

>>56632143
>>56632157
and by ""house"" i mean single wide trailer which barely qualified for financing (which you can also barely afford.)

[Anonymous No.56632184]

>>56632157
>in the event of ANY economic downturn you will lose ""your"" house.
I kept my house in 2008. I kept my house in 2020. That's 2 more economic downturns than you've survived.

If for some reason you go broke, your house is your cushion. Bankruptcy laws generally don't allow creditors to take your house unless you let them. So if for some reason you or your "gf" get cancer or get in a car wreck or some other financial misfortune befalls you, the house is about the only thing you can't lose.

It's also very likely going to be most of your retirement.

[Anonymous No.56632216]

>>56632184
>It's also very likely going to be most of your retirement.
fucking kek. how much money do you make a year? be honest.

[Anonymous No.56632285]

>>56632184
>>56632216
>YOU HAVE MORE THAN ENOUGH TO AFFORD A HOUSE!!!!
>JUST BE A RECKLESS POORFAG LIKE ME !!!!
>CONDEMN YOURSELF TO MEDICAID, MEDICARE, AND SOCIAL SECURITY!!!!!!

[Anonymous No.56632308]

>>56632216
>how much money do you make a year? be honest.
far less than you do.

[Anonymous No.56632319]

>>56632285
Your health insurance covers the first million dollars

do you know how fast you'll hit the cap and have to go on medicaid and declare bankruptcy? Literally a matter of a couple weeks if you have a serious health condition.

[Anonymous No.56632358]

>>56632319
you might want to do some research before giving out more retarded advice. annual and lifetime limits haven't been a thing for years. they'll make your life a living hell with a case management wagie second guessing literally every medical decision, but by law they can no longer cap coverage on some lifetime or annual basis.

[Anonymous No.56632365]

>>56632319
>>56632358
https://www.hhs.gov/healthcare/about-the-aca/benefit-limits/index.html
>JUST DROP HEALTH INSURANCE YOU'LL SAVE $2-3K A YEAR PRE-TAX AND TOTALLY BE ABLE TO AFFORD THAT HOUSE BRO

[Anonymous No.56632377]

>>56632358
>by law they can no longer cap coverage on some lifetime or annual basis.
thank obama for that

they also used to be able to take your house, but now that's damn near impossible

it's a great time to be alive.

ask around though. Most people buying their first home aren't contributing to retirement, purchasing health insurance, or generally living like kings. You make good money, there's no reason you can't afford a house aside from your unwillingness to takes some risks or give up some luxuries.

[Anonymous No.56632384]

really happy people like op aren't smart
imagine how high the fucking house prices would be then, let alone now

[Anonymous No.56632386]

hello frens
99% of all the new neighbors within like 5 miles of me in the past 10 years have been nonwhite
these days, houses here cost $500k for a handyman special to mid $1,000,000s for something gaudier
where are these pooskins getting this money?
why are they so bad with money, insisting on buying expensive but shitty houses?
i am certain that as soon as the boomers die this neighborhood will jump from 50% to 90% brown overnight, it's currently like 20% but climbing FAST
then they'll be back at square one, living in a shitty brownoid ghetto once again

PS: boomers bought houses here for like $100k, they were still around $200k in the 90s

[Anonymous No.56632400]

>>56632384
based retard

[Anonymous No.56632414]

>>56632400
kek you deserve your situation

[Anonymous No.56632430]

>>56632386
i also noticed that 80% of the buyers of $600-800k town homes are turdskins.

[Anonymous No.56632435]

>>56632414
He's presumably lying about his situation, but if true,

he can't afford a mortgage payment, but he lives somewhere. So his rent must be far less than a mortgage payment.

if your rent is far less than a mortgage payment, you're saving huge amounts of money by not buying a house anyways.

[Anonymous No.56632600]

>>56632435
That's essentially the problem for a lot of high income earner these days. The mortgage on the house I bought in 2021 is $1800. If I were to get the same mortgage today at current rates, it would be $3000. That's high but not too crazy. But the house I bought in 2021 has gone up in value and would actually cost me $3700+ per month today. That would break the bank for some high income earners because they likely still have student loans, car loan, etc. At that point, they have to decide on continuing to rent or bite the bullet and pray they can refinance at a lower rate in the coming years.

[Anonymous No.56632622]

>>56632435
I mean currently the break-even point on a 30 year fixed is 13.5 years.

you have to pay that fucker for almost 14 years JUST TO BREAK EVEN. You sell before 14 years and you lost money. In that kind of situation, rent would have to be A LOT MORE THAN A MORTGAGE for buying a house to make sense.

which is why people aren't buying houses right now. Except for us boomers that already have houses. We're still buying because we can afford to. We're writing the interest and depreciation off on our taxes anyways.

which OP would be doing as well if he had half a brain. But he does not and is not going to wagmi. Actual people in the US buy houses instead of paying taxes. OP is not that smart.

[Anonymous No.56632650]

>>56632039
Wtf is wrong with Americans paying $600 monthly for just having a home.

Constanly I hear shit about how Europe is a socialist shit hole but yet we don't have these outrageous taxes.

[Anonymous No.56632653]

>>56632600
Not sure about other boomers, but most of the ones I know that bought houses didn't go to college, didn't drive new cars. The house comes first.

I understand college is pretty much a requirement for wagies now, but that's another boomer thing. A shitload of us weren't wagies. We worked in the wage cage just long enough to learn the business, then we started our own companies.

But you're right, I probably couldn't afford to buy my own house right now. But if OP has a household income of $140k there's no reason he can't afford my house aside from unwillingness to do what is required. Unwillingness to do what I had to do to buy it in the first place.

[Anonymous No.56632705]

>>56632622
>We're writing the interest and depreciation off on our taxes anyways.

we've already established that you're poor, as in you make jack shit for money. the tax benefits of mortgage interest deductions are MINIMAL for someone like you, to the extent that you'll likely come out ahead by taking the standard deduction. they are barely worth it to someone like me. you cannot write off depreciation on a primary residency property, that extends only to rental or business related real property.

[Anonymous No.56632721]

>>56632705
>that extends only to rental or business related real property.
you're slow, but not entirely stupid.

[Anonymous No.56632739]

>>56632653
Unless you live in some flyover state, rural or shitty area, a decent house costs $600-700k these days. A person with $140k salary could have problems coming up with the down payment let alone paying a mortgage with property tax and homeowner insurance added on. My coworker makes $150k and should've bought a house at the same time as me but he was hellbent on finding something under $450k. I even used his realtor to close on my deal. Now him and his wife are almost priced out of decent houses in desirable areas near our workplace.

[Anonymous No.56632742]

>>56632721
don't tell me you also had to ""house hack""" aka room share with a strange transient retard in order to EASILY afford this house (which also required you to forego health insurance and saving for retirement.)

[Anonymous No.56632757]

>>56632742
>aka room share with a strange transient retard
I mean, she's my wife. But the description isn't entirely off.
>>56632739
Yep, but OP says he can get a $400k house and 20% down

in that case $100k would do the job, and he claims to make $140 combined.

[Anonymous No.56632776]

>>56631015
>a shitty starter home
Bitch what? are you seriously scuffing on a starter home? I've rented for years and it would be a dream to have my own place. Imagine if im not complaining on a 30k income plus the 20k i make dcaaing shitcoins ($husbant is looking promising fyi) then you don't get to complain

[Anonymous No.56632794]

>>56632757
He should definitely be able to afford a $400k house. But $400k is a garage in California or a shitty starter home in a Southeast suburb. Ain't no way he's finding a decent house for that price unless he wants to live somewhere like Iowa or a semi-rural area in Mississippi.

[Anonymous No.56632801]

>>56632739
If you check out OP's monthly expense breakdown, he can apparently afford the house, AND have $500 per month left over for savings.

his complaint is if something breaks in the house he won't have the savings to fix it.

despite the fact that most things that can break in a house cost a few hundred dollars, and anything huge should be covered by his insurance. And if not, he can always borrow against the house again in the very worst case scenario where he can't sue the builder or the inspector or his insurance won't cover it.

basically he's just making up reasons why he can't afford it. Nobody buying a first house can afford it. It's like having kids. You just do it and worry about paying for it later.

[Anonymous No.56632805]

>>56632794
I think he said PA, which should have some decent stuff in that price range still.

not great, but for a first house it should be ok.

[Anonymous No.56632826]

People don’t realize how bad it is. I’m in semi-rural south and make 170k. Looking to buy within all the traditional “rules” (ie 28% of income for mortgage payment) I can afford a trailer in my area or a fixer upper 2bed that looks like shit. I’ll wait.

[Anonymous No.56632863]

>>56632801
He's not kidding. There's no way I would feel secure saving only $500 lol. My landscaping alone is $200 per month. And it cost me $11500 to replace my HVAC system last month.

[Anonymous No.56632880]

>>56631015
>make $135k
>gf still can't make $40k

[Anonymous No.56632891]

>>56632863
knock on wood, I haven't had any expenses over a grand in the last 25 years. My basement flooded to the tune of $15k once, but the insurance covered that. I had radon in the basement but that was a thousand dollar fix.

if a person doesn't have money, they learn to fix stuff. Or have drinking buddies that know how to fix stuff.

[Anonymous No.56632899]

>>56631928
you live in a left wing shithole.

not
my
problem

[Anonymous No.56632937]

>>56632899
shut up tranime nigger

[Anonymous No.56633002]

>>56632384
OP sounds like the perfect person I'd want as a neighbor. Calling the mailman a mongoloid nigger for leaving a package too close to the sprinklers.

[Anonymous No.56633033]

>>56631015
you need 400k to buy a house worth 400k
dont let jewish money lenders confuse you

[Anonymous No.56633117]

>>56632039
>he didn't buy at 3%
ngmi

[Anonymous No.56633166]

>>56633117
rates will come back down

boomers don't like seeing our home prices go down. And politicians know we vote.

[Anonymous No.56633190]

>$400k starter home
What? A starter home is like 1 bed 1 bath. My starter home (that I'm renting out) is a 2 bed 1 bath with a deceptively high square footage thanks to the unfinished basement, so I'll never be able to sell it for more than I paid regardless of what zillow says. Anyway lower your standards, you don't need 3 beds and 2.5 baths for a starter home. Hell you don't even need more than 2 bedrooms until you hit kid 4, just make them all share the other bedroom and keep your fuckchamber for yourself and the missus.

[Anonymous No.56633240]

>>56633190
ive literally never seen a 1 br 1 ba house in my life. do you live in africa? what the fuck.

[Anonymous No.56633588]

>>56632039
>$700 food
shut the fuck up troll
>>56631972
white knight simp vibes

>>56632937
seething

[Anonymous No.56633617]

>>56632184
>just live hand to mouth for 20 years goy don't invest, instead rely on a deprecating asset that you'll be need to liquidate for retirement so you leave nothing to your children and they'll also be forced into wage slavery!

[Anonymous No.56633741]

>>56632801
Absolute buck broken slavemind goynigger.

[Anonymous No.56633850]

>>56631921
>$140k income
>can't afford $400k home with 20% down
Yeah I think you're fucking up somewhere, big guy

[Anonymous No.56633876]

>>56633588
>$700 food
>shut the fuck up troll
hello autistic retard who eats ramen noodles and boiled potatoes

[Anonymous No.56633891]

>>56633240
Hundred year old house near a military base. They build condos now instead of full on detached housing at that size. Speaking of a condo's not a bad starter home either, at least you can build equity even if the HOA fees are garbage.

[Anonymous No.56633928]

>>56632039
5k + 1.9k = 5.9k? Math is hard.

[Anonymous No.56634176]

>>56633928
nice catch but $1.5k/mo for 2 people is still poor as all fuck.

[Anonymous No.56634424]

>>56631015
That's okay, little Zoomer. Don't worry about a house. It's time to get you ready to ship you to the dessert to neutralize the enemy combatants threatening our Democracy in Israel. It's what the Boomers want and they always get what they want.

[Anonymous No.56634497]

>>56633850
>DTI: 41%
you are the reason the world is shit

[Anonymous No.56634547]

>>56634497
That would be buying a house at $627k. A 400k house obviously would be substantially less. Also, at $140k you're pulling in $11.7k per month, you could afford a $4,800 mortage/taxes/insurance payment if you wanted to.

[Anonymous No.56634646]

>>56634547
$140k is $7k/mo after taxes, insurance, and retirement contributions. you are a retard.

[Anonymous No.56634997]

>>56634547
You are a slave, your children with be slaves, their children will be slaves, you work tirelessly to enslave the few freemen left. You are everything wrong with the world.

[Anonymous No.56635251]

>>56634997
Your payment would be $2.8k/month. You can afford that on $7k. Also if you should be saving large sums of money right now at minimum $40k/yr in savings while not having a house.

>>56634997
Damn you're poor and seething about it.

[Anonymous No.56635284]

>>56631912
True. I'm in Texas and my 3 bd / 2 bth house is $300k (was $200k when I bought it).

[Anonymous No.56635335]

The more money you borrow the lower your interest rate..

Realistically you plan to pay off your starter home in 10 years tops… 15 if you’re poor.

Problem is you’re not getting that 100k job even if you’re overqualified.. Good luck dealing with someone that believes you’re underqualified … quizzes every single day until you punch them in the face.

[Anonymous No.56635803]

>>56635251
>jus blow 3 BTC so you can spend 50% of net income on a cuckshed!
No.

[Anonymous No.56636011]

>>56635803
It's not net income, it's after 401k and insurance. And it's not 50%, it's 40%. I bet the tard is already spending $2k/month on some gay apartment and whining he can't afford another $800 to actually buy a home and get equity instead of lighting his money on fire with renting.

Btw, you're poor, gay, fat and retarded.

[Anonymous No.56636324]

>>56636011
401k/insurance are pretax and essential if you aren't a nigger. And it's not $2k (or whatever) versus $2.8k, it's $2.8k + burning 3-3.5 BTC. You're spending a huge chuck of change to SAVE LESS, you will NEVER financially recover from that

[Anonymous No.56636502]

>>56636324
>muh btc
You don't have a single BTC. You're poor and misguided.

[Anonymous No.56636581]

>>56633876
maybe i'd believe it if this is tailored to the average (extremely fat) burgerstan resident that consumes over 3000 calories a day, but how the hell is this accurate for families that can share expenses?
my wife and i spend about $500 a month on food total and we just buy what we feel like without considering cost.

[Anonymous No.56636700]

>>56632039
You're braver than me posting your numbers anon. Sadly most people here only speculate regarding home ownership, or just want to shitpost. Wishing you and the missus better salaries along the way.

[Anonymous No.56636891]

>>56632039
It's horrifying how many home owners are in this position.

[Anonymous No.56637266]

>>56634646
Thank You Bro

these nigga are fucking retarded

t. Six figure SDE of a decade - made 250k last year

we get raped on Taxes. $2500 on a low six figure salary is 50% of take home pay. Combined with uncontrolled HOA fees, that is the reason I do not own a condo.

if this shit is going to be this shitty, aka squeezing six figure chads like you and I out - I'm just going to move to Brazil and fuck mulattas

Thank God I'm inheriting a ranch in a historic neighborhood in my city

[Anonymous No.56637387]

>>56637266
>I make eleventy gorillion and I can't sneed!!
Lmfao shut the fuck up.

[Anonymous No.56638167]

>>56631015
You need to live with your parents and save up to pay upfront in cash instead of using a mortgage.

[Anonymous No.56638419]

>>56636502
I have 10 BTC and a cunt hair over $100k in my 401k. Houses have roughly doubled in price since 2010, a 20% ($40k) down payment in 2010 invested instead in SSO would be nearly $500k, invested into QLD would be over a million, putting a significant fraction of your networth into a fucking cardboard shack ESPECIALLY if it also forces you to reduce your DCA into actual well performing asset classes is a one way ticket to NGMIville.

[Anonymous No.56638444]

>>56637387
>he's so poor low 6 figs is fantasy to him
Pathetic.

[Anonymous No.56638445]

>>56631983
Mr.Patel, whites don’t live 73 to a residency.

[Anonymous No.56638500]

>>56633002
Actually laughed at that one anon, thank you

[Anonymous No.56638564]

>>56631867
>why would an incel even need a house in the first place
I own a 3 BR house and avoid women entirely
even alone, living in a space less than 2000 sq ft is reserved for subhumans

[Anonymous No.56638727]

>>56631015
not really. it's a buyer's market right now. you can put just a bit down and make payments or something for the rest. to a regular person like they were the bank.

happens all the time

[Anonymous No.56638735]

>>56631015
I just watched 3 professional pornographic videos where a white sexy young woman got DP by big black bulls. They all jizzed on her smiling teeth and then she blew bubbles with it. I watched these for free. What i am trying to say is learn to save money you dumbass pleb

[Anonymous No.56638761]

Me never buying a house has nothing to with affordability anymore since you all convinced me that Helene wrote an out for herself in her mortgage fraud about me buying a house or getting a mortgage or something.

[Anonymous No.56639251]

>>56632184
>boomer buys a home pre COVID, pre 2008 even
>just roll up your sleeves, look em in the eye, firm handshake kiddo!! That easy
A tale as old as the worst generation in American history

[Anonymous No.56639262]

>>56632891
>knock on wood
Lol. Lmao

[Anonymous No.56640435]

>>56631015
it's over

[Anonymous No.56640664]

>>56632863
Ok jew or pajeet who’s too much of a wimp to cut some grass or swap in some hvac.

[Anonymous No.56640747]

I bought a comfy small town apartment in a "socialist shithole" in scandinavia for under $150k.
My monthly expenses are nearly non-existent. If I tried hard I could probably survive just fine on less than €1000 a month and that's all utilities, phone plans, food, and everything included. A person I know also bought another comfy small town apartment (they got a commie block though so slightly less comfy) for €20k in another scandinavian "socialist shithole".

Why do people insist on living in cities again?
Then you have retards like this guy >>56632089
insisting people who live comfily without paying €100k a year in rent or buying €500-800k apartments must be methheads living in a trailer. You don't have to live in a shithole city. Just dont. Don't do it. I've lived in a city before, it doesn't offer anything valuable that warrants you being in debt for the rest of your life and never owning a home.