/biz/ - Business & Finance

[Anonymous No.57486342]

How much in savings does it make sense to buy a house? Been renting an apartment for years and feeling it's a waste of money at this point

[Anonymous No.57486641]

>>57486342
Interest rates are near 7%. So you want to put a MINIMUM of 20-40% down to keep your monthly payments low. If you spend any more than 30% of your monthly take home pay on a house, then you are house poor. You should save up a few hundred thousand before purchasing any home over 500k

[Anonymous No.57486703]

>>57486641
Only got about $110k. Am I better off just continuing to rent apartments and dumping the money into something like Bitcoin or Chainlink? I'm ok just market buying every paycheck for at least 5 years straight

[Anonymous No.57486734]

>>57486342
wait for interest rates to drop again, then buy

or wait until you've saved enough to buy a house outright with no mortgage

t. bought a house 4 years ago, literally the best financial decision I've ever made besides buying bitcoin in 2016

[Anonymous No.57486750]

>>57486703
eh id be cautious if the money is going to a down payment on a home. For me I would be mostly in cash in a 5.5% Money market fund. Try to get your cash to 200k and then make a down payment on something that you can afford. Remember you don't want to be house poor, owning an expensive home can make you feel more poor than when you didn't own a home

[Anonymous No.57486762]

>>57486734
yeah 2018 -19 was the time to buy. House gained has gained 200k in value since. But the rate of appreciation has really slowed to a crawl now.

[Anonymous No.57486784]

>>57486342
Just wait. renting is cheaper for the moment. Do not fall for the condo meme

[Anonymous No.57486957]

>>57486703
If you have that much and are willing to buy a lower end home, you can and should do it. Absolutely do not continue to sink money into crypto, try buying index funds to insulate your savings a little more. I agree with the other anon that you should aim for 20-40% down payment. Your whole goal should be to make sure you don’t lose your job and then your house. The stress is just simply unbearable. I can tell you personally, having a freestanding home (not a condo) has been the best decision of my life. I scrimped and saved for ten years to pay for it and when I lost my job I cashed out a ton of investment accounts to pay it off.

It’s a lifestyle of sacrifice but if you are capable of long term planning, you can do it. If you can learn good skills and pickup a 2nd job now, you can really set yourself up for a good future.


Bank up 150k and buy a place for 350k in a neighborhood close to a park. Save and sacrifice for a few more years and pay it off and be free. Keep 15-20k on hand in case you lose your job.

[Anonymous No.57487267]

>>57486641
>MINIMUM of 20-40% down

The whole point of buying real estate is the ability to invest on leverage, you want to put as little down as possible because your cash will appreciate more in other markets.

>but muh PMI

Not even one percent of the loan value. I don't know why more don't pay it. You are far better off paying the PMI and investing the cash that you would have put down to avoid it.

On a 400k house you would need to put put 80k down and avoid PMI. Banks will still issue loans at 95/5, so instead you could put 20k down and pay $3800/year on PMI, while investing the 60k. The 60k will earn at MINIMUM 5% in the markets (1 year treasury - $3000/year), or 9% in S&P ($5400/year).

You then wait until you have 20% equity in the house (at most 5 years assuming 2% appreciation), and then you refinance to a lower rate and no PMI

[Anonymous No.57487300]

>>57486342
Obviously, don't buy anything you can't afford.
You need to play the long game. Find a real estate agent who is willing to submit lots of lowballs. Maybe you pay them $10 per lowball because you might be sending out a lot.
I bought a house last year doing this. Luckily, it didn't take too long.
>Ask my agent how busy she was on my day off
>Nothing going on
>Find five houses in an area a little higher than what I can afford
>See them all and determine how much I want to lowball on each house
>Each offer contract that we submit has a time limit of 2 days
>Once one offer expires, we submit the next offer.
>I Only had to do this twice; I got a good offer on the 2nd try.

>Bought from a flipper
>They bought the house for $320k
>They did some upgrades: new carpet, new interior paint, some new appliances and fixed the plumping
>Over 9 months, they had pulled their prices from $380k down to $330k
>Asked for $325k with closing cost (about 6k)
>AND THEY ACCEPTED
>They hella lost money on me buying that house but they wanted out of the market

[Anonymous No.57487344]

>>57486957
Would 150k be too much to save if you have a decent job? 100k salary?

[Anonymous No.57487364]

>>57486784
>renting is cheaper for the moment

Your house gains a minimum of 2% equity each year. On a 400k house, that is 8000/year.

You get to deduct mortgage interest and property taxes. At a 6.5% mortgage, that's 20,694 in mortgage interest and then roughly 4,000 in property taxes. The standard deduction is 13,850, so you get to take an additional 10,844 in deductions. This is worth roughly 2500/year.

So your rental payment needs to beat the mortgage payment by 875/mo to be even, although rent prices will increase over time.

[Anonymous No.57487377]

>>57487300
An offer of 325k on a 330k list price is not a "low ball"

[Anonymous No.57487388]

I'm worth $1.1MM and still renting.

[Anonymous No.57487419]

>>57487300
Where the hell are houses 325k?

[Anonymous No.57487452]

>>57487377
With closing 6k in closing and with new carpet, new interior paint, some new appliances and fixed the plumping

[Anonymous No.57487706]

>>57487419
Probably the Mid West or the South.

[Anonymous No.57487721]

>>57487364
>400k house

What fucking flyover state do you live in or are you looking at the shiftiest house in NY?

[Anonymous No.57487752]

>>57487721
>>57487706
>>57487419
>>57487377

I remember 20 years ago as a young child, how I thought 1 million dollar homes were a rich mans house..Now 1 million might buy a 1,000 square foot house with no yard and built in 1970.

[Anonymous No.57487858]

>>57487752
Exactly. The high costs in addition to interest on loan, property taxes, insurance, utilities, and fixing up these pieces of shit make the monthly payments too much to handle based on how cucked wages are

[Anonymous No.57487915]

put down 20% and buy it if you plan on staying there for 8+ years. there's no point in waiting for rates to drop because house prices will rise to absorb any savings you anticipated from the bank.

[Anonymous No.57488024]

>>57487419
Median home price in USA is 400k

[Anonymous No.57488037]

>>57487267
>The whole point of buying real estate is the ability to invest on leverage, you want to put as little down as possible because your cash will appreciate more in other markets.
This is fine if you're buying real estate as an investment, but not advisable for your primary residence. Reason being what happens if your other investments don't pay off and you fail to make payments: if the house is just an investment, you lose a chunk of your net worth, which is not ideal, but not the end of the world; if the house is your home, however, now you're officially homeless.
>The 60k will earn at MINIMUM 5% in the markets (1 year treasury - $3000/year)
Just to reiterate: this 5% is a lower rate than your mortgage, which is going to be in the ballpark of 6.5% or more by now.
>9% in S&P ($5400/year).
This is not a guaranteed return, so my same point from above about housing as an investment vs. a residence applies.
>you refinance to a lower rate and no PMI
This is also not guaranteed (but highly likely, to be sure).

[Anonymous No.57488049]

>>57487752
>Jackson WY

3000+ counties and you pick one of the 10 most expensive

[Anonymous No.57488373]

>>57488037
>what happens if your other investments don't pay off and you fail to make payment

This scenario rarely happens because banks require you to provide 2 years of tax returns showing the income necessary to make the payments, as well as reserves with the ability to make payments in the event of job loss. Investment income can only be used if you have 2+ years of tax returns showing that income. There are underwriting guidelines that the mortgage must pass for it to go through.

And even if you lose your job, don't get a new job, you can rent the home out which allows you to take additional tax deductions (depreciation - 3.6%, maintenance and repairs). Or because you invested so little in the place to begin with, you could walk away and take the hit on your credit.

A mortgage rate of 6.5% on a 400k house (320k loan) is a net 5.5% after tax deductions (interest and property tax). If you pay this down too quickly you lose the tax benefits. You're better off making minimum payments and taking the tax deductions. Fed has already announced intention of cutting rates (slightly) later this year - they haven't lied about anything they've done so far.

[Anonymous No.57488615]

>>57488373
>And even if you lose your job, don't get a new job, you can rent the home out which allows you to take additional tax deductions (depreciation - 3.6%, maintenance and repairs). Or because you invested so little in the place to begin with, you could walk away and take the hit on your credit.
Again, both of these contingency plans make a lot more sense if you're treating the house as an investment rather than a home.

The strategy you're talking about is valid - but as the person making the decision, you have to be clear-eyed about what your intentions are with the debt you'd be taking on.

[Anonymous No.57488666]

>>57488615
Yes, making the decision to rent or buy is an investment decision, lmao

[Anonymous No.57488719]

>>57486703

Anon, I appreciate you making this thread because I'm in a similar situation. Little bit more saved up, high COL region, thinking about making the same decision.

[Anonymous No.57488726]

>>57487452
>>57487377
>5k under asking
>6k in closing
>4k of paint
>5k for new carpet (800 sqft)
>1k in new appliances
>1k to fix the plumping
So somewhere between 20k to 22k under asking... And the flipper only sold the house for 5k over what they bought it for.

[Anonymous No.57488788]

>>57488719
No problem, anon. Are you investing in anything at all? I do think smart contracts will gain serious adoption, so it seems LINK in 5-10 years will be an amazing investment if it works out, with enough to retire comfortably. Besides that I do think BTC will also gain huge adoption, but it has far less upside for a similar risk imo.

[Anonymous No.57488805]

I’m buying a home at 365k for 5.5% interest and 10k thrown in to cover closing costs.


My family needs a home so we can’t really wait

[Anonymous No.57488806]

>>57486784
>renting is cheaper for the moment.
Depends on where you live.

[Anonymous No.57488951]

>>57488788

I will mildly overshare: I have some ETH from years ago (pre and peri-covid buys sub-800), outside of that I have nothing because I made no money from 18-30 (worked shit jobs averaging sub-25k/yr). Make around 90-100k/yr presently, but live in an area where the median home is 750K now. No significant other, so no additional help on bills.

Parents never taught me anything about finance, budgeting, investing, etc. Trying to figure it out on my own with minimal money and a need for housing has been difficult -- fairly terrified of putting basically all my money into a house and starting from square one again with razor-thin margins to operate off of.

[Anonymous No.57489010]

>>57488951
Yeah, same with me. /biz/ has been a godsend considering I grew up dirt poor and even my own parents don't own a home. Somehow lucky enough to maybe buy one with a mortgage in my late 20s.

Wish you the best of luck man.

[Anonymous No.57489048]

>>57486342
I had about $100,000 saved and got a moderate income condo for around $80,000 this year. It's only for people who make $40,000 or less a year. You can't sell it for a profit later on, and you can only raise the price by a certain percentage yearly, but I did the math and it's far, far cheaper than renting in my area.

After totaling things up my entire CoL for a year is equal to the amount an average renter pays in that same amount of time.

[Anonymous No.57489150]

>>57489010

I'm still down on myself all the time, but not even a decade ago I was renting a room in a traphouse, working 2 jobs 16-18hrs a day, and having to fight people for money to cover rent. I still kick myself for not getting any BTC from 2009-2015 but it is what it is.

Wish you the best as well -- the circumstances we came out of is the furnace we steeled ourselves in. I believe we will both make it, and hopefully we both get a comfy lil home for each of us.

[Anonymous No.57490483]

Are low interest rates really that big a deal for housing?
It seems that when the interest rates are low then the 300k houses would be 500k anyways.

[Anonymous No.57490506]

>>57490483
This. You either get a
>low interest rate and high price
or
>high interest rate and low price
If you are smart to get a high interest rate and wait to refinance to a low rate 5~10 years later.

[Anonymous No.57490609]

>>57486342
My logic is always to reduce monthly housing cost until interest and property tax is less than or equal to current rent. If it's not then I continue to rent and save/invest the remaining money. Interest and property tax is money in the trash just like rent. If you are lucky you got rent priced in during 2019-2021 and are paying much less than most people if they rented today.

[Anonymous No.57490628]

>>57490506
>>57490609
Just be a cash chad, and come up with 1.2 million cash for a new mcmansion in the suburbs surrounded by tech workers and government contractors.

[Anonymous No.57490739]

>>57490628
This. Parents should give you at least max out the lifetime gift amount of 13.2 million for a house.

[Anonymous No.57490999]

Remember, never buy an apartment

Location
Land
Looks

[Anonymous No.57491020]

What if you have no income but you inherited a boatload from big daddy Sergey. How much do you need in savings to afford a home?

[Anonymous No.57491044]

>>57487267
>invest on leverage
>for something you need to live
What's next mcmortgages for mcnuggets so you can eat them on leverage? That's fucking retarded.

[Anonymous No.57491092]

>>57486957
>>57487267
enjoy spending your whole weekend mowing your lawns and cleaning the gutters ill keep buying stocks and crypto until I actually need a house

[Anonymous No.57491107]

>>57488805
Can anyone tell me if I’m getting fucked or not so badly fucked

Like a steel ribbed dildo fucking or a pinky finger fucking

[Anonymous No.57491256]

>>57491044
McMortgages > Dominotes

[Anonymous No.57491344]

>>57490483
This is why you should buy now while rates are high and Zoomers and loser Millennials are priced out

Rates will be sub-5% in 2 years, then you refinance

[Anonymous No.57491413]

>>57488024
we're moving our house to California, honey.

[Anonymous No.57491959]

>>57486342
these days not nearly enough

[Anonymous No.57492053]

>>57486784
My mortgage is $230 a week,
Average rent is $450 a week.

[Coloradanon No.57492158]

>>57486641
>Interest rates are near 7%
People who bitch about interest rates on houses are fucking stupid. Every day a new thread. THE INTEREST IS TAX DEDUCTIBLE IN THE US. IT DOESN'T FUCKING MATTER. If you are a first time home buyer who makes enough money to buy an expensive house its completely irrelevant what the interest rate is.

[Anonymous No.57492234]

I make 60k a year W2, which hits around 40k take-home. what kind of house can I afford as a first-time buyer with 30k down payment?

[Anonymous No.57492329]

>>57492234
You should invest your 30k and buy a USDA-eligible home with a USDA direct loan at $0 down and a 4.625% rate (currently).

[Anonymous No.57492413]

>>57492329
definitely something to look at. just have to find something I could rationally afford in an area where I could still commute to work

[Anonymous No.57492468]

Don't mortgage unless the total monthly payment is comparable to rent AND the down payment (plus closing costs plus tip) is less than 25% of net worth, housing is a shit asset that underperforms monetary expansion, don't trap a significant fraction of your capital in it

[Anonymous No.57492483]

>>57486703
Yes. The only practical way out of the wage cage is min-maxing into assets that outperform monetary expansion like BTC or leveraged equities

[Anonymous No.57492518]

>>57487364
>being poor
>not having a stand at home wife for tax and dick sucking purposes
Pathetic.

[Anonymous No.57492530]

>>57492468
what if I am looking for a rental property?

[Anonymous No.57492553]

>>57491020
The cost of the house. Banks won't lend without income, obviously

[Anonymous No.57492555]

>>57486342
meta trick, buy and own a trailer , living expenses will be super low. youll pay it off quick, and then you can sock back 1000s a quarter and buy a house in cash in about 8ish years when the things starts to fall apart, sell it used and get a new car with the house.

[Anonymous No.57492574]

>>57492413
Play around on their website - there's a property eligibility map.

https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

[Anonymous No.57492579]

Am I getting a good deal with a 5.5% rate? 360k loan. Lot is huge and I live in az so we have an expensive market.

[Anonymous No.57492587]

>>57492555
Trailers depreciate too much.

The better trick is to buy a cheap place that needs a ton of work, fix it up as you're living in it, then move out once it's renovated.

[Anonymous No.57492599]

my dividends pay the rent. is this based?

[Anonymous No.57492601]

>>57492579
Yes, 10 year treasury spiked from 3.81% to 4.05% yesterday since the fed said "we're good". Hope you locked it.

[Anonymous No.57492608]

>>57492601
Fuck not yet waiting for release

[Anonymous No.57492623]

>>57492158
>IT DOESN'T FUCKING MATTER.
You are a fucking retard.

1) standard deduction is $26k if you're not a cuckold faggot, unless you have other large itemized deductions, SD will be larger than the interest deduction
2) tax deduction =/= tax credit. You don't get the amount back, you reduce your taxable income by that amount

Example: you are a homosexual cuckold poorfag making $100k, paying $24k in interest, only $11k of this would be a net deduction as SD for single filers is $13k, so you're saved $2400/year on taxes, only 10% of your interest payment. Yes interest fucking matters dumbfuck

[Anonymous No.57492639]

>>57492530
Then you should kill yourself. Rental properties are only eclipsed by bonds as the shittiest investment.

[Anonymous No.57492653]

>>57492518
You have a wife that doesn't work?

My god that's a risky investment

[Anonymous No.57492661]

What’s too much when paying for back yard? The lot we have has a 5000sqrft yard and it’s completely dirt

[Anonymous No.57492665]

>>57492653
My wife makes more than me kek it’s nice though I use her money for investments

[Anonymous No.57492686]

>>57492653
>having other people raise your children
>having your wife be subservient to someone other than you
Very homosexual and extremely cuckold

[Anonymous No.57492691]

>>57492686
My wife and I work from home and we both raise our child, why can’t your wife work from home?

[Anonymous No.57492693]

>>57492686
>what is WFH

You're opening up yourself to a HUGE liability in alimony payments by having her not work

[Anonymous No.57492708]

>>57492686
>other people raise your children

I feel bad for your kids

[Anonymous No.57492731]

>>57492579
Based AZ WFH anon

Where are you buying in AZ

[Anonymous No.57492755]

>>57492731
San tan gonna live there for 5 years maybe 10 max and leave for greener pastures.

[Anonymous No.57492842]

>>57492755
Nice I'm in Queen Creek

[Anonymous No.57492895]

>>57492755
>gonna live there for 5 years maybe 10 max
10 years is about the break even point on loan fees and interest at 5.5. So if you gain anything it will have to come from rise in home prices over that decade. Which seems like a good bet.

[Anonymous No.57492931]

>>57492895
In the area it’s almost a sure thing. Plus az is going to be non stop flooded for the next 20 years so az properties will continue to skyrocket. I’m aware that I’m eating costs with interest but in our situation we will make out better in the end. It’s our 2nd property so we get passive rental income already. Ideally we refinance down the line to something below 4% and when we leave either sell or rent.

[Anonymous No.57492943]

>>57492842
We were thinking queen creek but we’d rather have lots of extra cash month to month so we settled here as it’s gonna be right next to queen creek it will also grow well we’ve been visiting the area it’s pretty nice better than most the valley

[Anonymous No.57492951]

>>57492931
good choice then. This is the way.

[Anonymous No.57493043]

For me I rent a sharehouse for $580 aud p/m, that's $378 usd p/m. I live in a major Australian city, there's no doubt that I would be paying vastly more in mortgage and missing out on the OC of investing/trading stocks like I do. Current median price is $870,526 aud. I'm pretty happy with my house, people I live with, the price of course, and the location, so I don't even consider buying a house.

The only thing I lack is the sense of having my *own* land and house. That's something renting can never afford. However, I wouldn't feel much satisfaction from owning a house and land in a suburban area. My dream is to have a few acres of land and a big white house, literally painted white, with many rooms, including a huge library with areas for astronomy and chemistry and writing. I've dreamed about it. Also having Gatsby-style parties hehe

[Anonymous No.57493046]

>>57492931
>>57492943
>we're moving there because it's cheap and we can't afford the nice places
>no doubt it's going to go up in equity over time

You seem nice Anon so I'm just going to wish you good luck and hope that you're happy in your new home

[Anonymous No.57493110]

>>57486342
I would not recommend it. Where I live houses are 700-2m. Mortgage on that much with 20% down is from 3.5-7k a month. Lmao if you don't make at least 300k you'll be living paycheck to paycheck, forget about investing.

Just live with your parents, what I do. Save an unimaginable amount of time and money. Plus can help out my parents and hang out with them.

[Anonymous No.57493193]

>>57492691
>>57492693
>it's not being subservient if it's remote
Cuckolds. Further, 1) I don't live in an alimony state, 2) my wife knows I'd murder suicide before divorce, 3) most of my assets are in bitcoin, anyway

[Anonymous No.57493372]

>>57493193
>I would sudoku if my wife left me
>I'm definitely not a cuck

LMAO what a cope

[Anonymous No.57493435]

>>57493046
We’re moving there because the area is up and coming and is just a copy of QC, currently lower value because it’s in the same development stage QC was 5 years ago, and we don’t plan to live in AZ long term this place sucks and is getting overrun by spics and cali fags.
We bring home 180k a year and we don’t want to just buy a 600k home in Gilbert just to mugged by some spic at Target.
>you’re too poor to have lived in nice places
Was in Scottsdale for several years, it sucks too overrated garbage.

[Anonymous No.57493732]

>>57492731
that's a nice place

[Anonymous No.57494311]

>>57491256
that's just awful

[Anonymous No.57495312]

>>57486641
Or, and I know this is a crazy idea, buy a cheaper and smaller house.

[Anonymous No.57495384]

No income, hoping I can get to $3MM with chainlink.

[Anonymous No.57495543]

>>57492053
$920 a month wouldn’t buy anything these days.

[Anonymous No.57495613]

>>57493435
>this place sucks
>I'm going to buy a house and stay here 5-10+ years

I wish you the best Anon, you're going to learn some major life lessons the next few years

[Anonymous No.57496518]

Case Shiller is the measuer of the ratio of median home price over median wages. For most of history houses were 2-4 times the median wages but in recent years we are at 9-10 times median wages. We're surpassing the 2008 bubble by an incredible degree.

My recommendation is to not buy if you're not in top 10% incomes or you can find a deal in your area where the home is 2-4 times your annual wages. It's my belief that these prices cannot stay so massively separated from wages forever.

However it can take years for this to correct so "two more weeks" can mean "two more years."

[Anonymous No.57496650]

>post ragebait bullshit and get 500 replies
>post real information and thread dies

[Anonymous No.57496921]

>>57492731
Man I grew up in AZ but have spent most of the last 10 years in Canada where my family is originally from. I'm back here now visiting my parents and these prices are insane. Everything is north of half a million in my old neighborhood. I have this mild sense of angst being here, probably because I always thought I'd move back but here I am 10 years later and its a pipe dream. I wish we'd get another 08 crash. What are the good jobs here for non-stem fags?

[Anonymous No.57497406]

>>57496518
>>57496650
Case shiller has been rising steadily side '71, but houses aren't expensive (>>57492468) wagies are just pathetic and poor

[Anonymous No.57497572]

>>57497406

Yeah I can believe that the true value of homes didn't go up, wages just stagnated and got outpaced by inflation.

[Anonymous No.57498764]

>>57488805
30 years? I guess that's alright as long you could afford it and well. Bless you.

[Anonymous No.57498983]

>>57486342
where is that...looks like sierra vista, az with the huachucas in the background

[Anonymous No.57499059]

Timing and location is everything. Bought my house during the fallout of 2008. $135,000. 3bed,1.5 baths, basement, garage and a yard that's not a stamp sized plot of shame. Before said uh gift crash the owners had dumped in a pot of money redoing the main level. (so I didn't have to do a thing). The rub, if you want to call it that?, they decided to go cheap and do the basement renovation themselves. Goal was a media room. Uh yeah epic fail on that. Electrical was a mess, studded walls, everything exposed. I made like it was a deal breaker (reality; fuck no, I wanted an open concept basement, they merely saved me some work). So I got the house for 135k. Took out their studded walls and took out the rats nest of electrical wiring. Luckily I could see where the original wiring and their half baked mess intersected. I think I ended up making a small profit off the wood I hauled out of it.

[Coloradanon No.57499824]

>>57492623
>standard deduction is $26k
The standard deduction is 13k, not 26k. 26k is for 2 people, a married couple. If you are buying a house anywhere near where I live, the interest doesn't fucking matter. You are making a high wage and the house you are buying us expensive AF. You must be a poor fag if you are taking the standard deduction. And you must live in a shithole if your mortgage interest doesn't easily swallow the SD.

[Anonymous No.57500042]

>>57499824
Renters think everyone is as poor as them

[Anonymous No.57500075]

>>57486957
>don't buy chainlink
oh wow never heard that before on here

[Anonymous No.57500922]

>>57500042
lets not gloss over that other includes those with mortgages

[Anonymous No.57501028]

>>57499824
If you're looking at single filers you can only deduct the from the first 375k and houses in your turbo gay area are $1m so how are you, mathematically, telling me that paying $50k/year in interest versus 20k deducted (which saves you 10k in taxes) is nothing? You're either filing your taxes totally wrong or just made up everything you said lol

[Anonymous No.57501668]

I'd be a fucking property baron in the US. it's heaps cheap, except for a few exclusions.

[Anonymous No.57501984]

>>57499824
Mortgage? Who's poor? Cash baby.

[Anonymous No.57503320]

>>57501984
>unironically bragging about turning down cheap credit

[Anonymous No.57504442]

( ͡° ͜ʖ ͡°) if you haven't bought a house by now, it's over.

[Anonymous No.57505034]

I have around 300k in crypto and 120k in various student loans/credit card/personal loans debt. My wife insists on buying a house but I feel like it's not enough especially if I need to pay off the debt first. And there are no decent houses in our area (Boston) worth less than 700-800k. Can't relocate because of work either. What kind of mortgage do you guys think I could get, maybe with PMI, despite my debt? I'm concerned banks will say my 110k income is too low for any decent sized mortgage. My biggest fear is giving up all my capital too early and then watching crypto moon this year or 2025.

[Anonymous No.57505231]

>>57486703
How much are houses there

[Anonymous No.57506904]

>>57486762
>appreciation has slowed

WAAAA WAAAAA BOOO HOOO FUCK YOU

yes, I’m mad