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/biz/ - Business & Finance

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File: 123 KB, 1024x710, affordability-chart-1-1024x710.png [View same] [iqdb] [saucenao] [google]
57165219 No.57165219 [Reply] [Original]

If you didn't buy a house before 2021, you never will

>> No.57165242

I know a guy on 6 figures who cannot keep up the payments on his 1 bedroom shitbox. The next couple years will be a slow rug.

>> No.57165482

>>57165219
>it's another debt-slave with a mortgage thinking he "owns" a house thread

>> No.57166127

>>57165242
>bald face liar
>>57165482
>delusional rentoid cope

>> No.57166236

>>57165482
I'm a debtchad with a 30 year mortgage at 4% interest
At 4% interest, I will gladly stay in debt for as long as possible

>> No.57166282
File: 99 KB, 744x800, loan info.png [View same] [iqdb] [saucenao] [google]
57166282

>>57165219
I feel lucky to have landed 4.5% when I did

>> No.57166350

>>57166282
>2024 house market crash
>your house is now $180k
>still have to pay $360k
lmao

>> No.57166380

>>57165219
i’m literally seeing people rushing to market at losses who purchased in the past 3 years lmao

>> No.57166533

My wife and I are gonna be buying this fall, got approved today looking for 350k

>> No.57166560

>>57165219
Just makes me laugh watching you yanks panic about this. Leafs gotta find 1.5MM for a detached and you fags are in a tizzy about 350k
Always crybaby bitches, you fucking yanks

>> No.57166678
File: 12 KB, 533x347, zillow.png [View same] [iqdb] [saucenao] [google]
57166678

>>57166350
I'm never going to sell though

If I had to move I would rent it out for $1400/mo profit

>> No.57166689

>>57165219
I just bought a 550k triplex

>> No.57166705
File: 332 KB, 646x700, 1699200688020551.png [View same] [iqdb] [saucenao] [google]
57166705

>>57166236
I locked in 2.75% for 30 years.
Lower you're tone, chud.
>At 4% interest, I will gladly stay in debt for as long as possible
Just kidding, actually based. I have no plans on paying mine off early either. It's literally free money.

>> No.57166732

>>57166705
My rental home is 2.625%, never selling that one either

Plan is to have a house for each kid when they are out of college

>> No.57166744

>>57165219
Now post the chart showing affordability in 2007

>> No.57166754

>>57165242
Probably in mountains of credit card debt. Or he lives in a major city?

>> No.57166755

>>57166705
I own my home free in clear. You guys didn’t buy bitcoin before 2020?

>> No.57166775

>>57166732
That's wonderful. My big fuckup was not mortgaging a second or third house in 2021 even though I was flush with cash. I was too hung up on having my first house.
>>57166755
Um I did. I could liquidate my stocks or crypto to pay off my low-interest mortgage but that's a retarded idea.

>> No.57166776

Watch me do it anyway

>> No.57166801

>>57166755
That's what I did

Cashed out after the 2017 bull run and bought in 2018

Cashed out after the 2021 bull run and bought in 2022

>> No.57166962
File: 12 KB, 411x387, 1562646201619.png [View same] [iqdb] [saucenao] [google]
57166962

>>57166705

So i'm wondering, who is taking on the risk for all the 30-year fixed interest mortgage? US government or the banks?

>> No.57166970
File: 145 KB, 384x383, 1651581534424.png [View same] [iqdb] [saucenao] [google]
57166970

>inherited a house
>the government is trying to tax me out of it
You never escape rent except in a few tiny countries that have no property tax.

>> No.57167351

>>57165219
Nah, I have an above median salary and an above median saving rate, I can buy a house whenever I want.
Not sure when I'll want it though. Seems like a huge commitment and commitments are my biggest fear.

>> No.57167404

>>57166970
Most of the USA has no estate tax unless you inherited a $10m mansion or something

>> No.57167430
File: 36 KB, 504x352, equity.jpg [View same] [iqdb] [saucenao] [google]
57167430

>>57165219
Got mine in the sweet spot near the end of summer 2020 when prices+interest were at or near their lowest. It's near the waterfront too. Feels good man

>> No.57167464
File: 46 KB, 550x535, 1693214219589219.jpg [View same] [iqdb] [saucenao] [google]
57167464

>>57166236
hope you really like that house and keep a steady job for the next couple decades

>> No.57167635

>>57167351
It's not a commitment. You can walk away whenever you want, call a property manager, who will find someone that will pay your mortgage off for you while you deduct depreciation and taxes on the property.

>> No.57167727

>>57166962
Literally every mortgage under 1 mil is fully backed by the USG. It's risk free for banks.

>> No.57168894

>>57166350
no crash is happening unless war with china starts

>war with china
>migrants leave as no one wants to be bombed or roped into war economy
>no renters so demand falls
>stock market goes to shit due to war
>boomers superannuation goes to shit as stock market has tanked. can't afford to service mortgages on housing when theres 0 demand due to no immigration
>housing prices start collapsing

>> No.57169178

>>57165219
I owe about $250k on a 3/2 BR single family at 2.75%. House is worth about $600k. I am about to purchase my second home sometime later this year. I am looking at homes between $500k and $1mil.

>> No.57169188

>>57165219
Bought a single family home during 2022 in a top 6 major city. Nice try.