/biz/ - Business & Finance

[Anonymous No.57601344]

bros... i dont think we're gonna make it.... houses are going to 2-3x in price by the time we cash out and after capital gain taxes, property taxes, sales taxes, etc we're gonna be fucking broke after buying a house. you literally need 10 million dollars to feel remotely comfortable and the most ill make this run is 1 million dollars

[Anonymous No.57601354]

If you only cash out 1 mil after taxes you can rent a 1 bedroom apartment be a little comfy but you’ll need to re accumulate in the next bear market and make it the next cycle

[Anonymous No.57601355]

>>57601344
Spend house downpayment money on certifications and courses to pad your resume for a better job. Then buy a house in 2-3 years when it all settles out.

[Anonymous No.57601362]

sucks to be poor
try again next life

[Anonymous No.57601364]

>>57601355
>just go back to being a wagie bro

i will fucking kill myself before i do that. im gonna have to sustain myself with staking from stablecoins and the coins i reaccumulate in the next bear market

[Anonymous No.57601380]

>>57601344
Just gotta try to convince yourself you are making it, do some extra hours and burn some extras on eesee raffles, just a little if you win you'd feel gratified and if you lose you wont affect your balance that much.

[Anonymous No.57601386]

>>57601380
i do try to convince myself and then i go house shopping on zillow and get demoralized that im buying boomer bags who paid 10k for a home and are selling it for 1m

[Anonymous No.57601398]

>>57601344
True. I have 225k in crypto at the moment. I literally just need a 10x to make it. Even a 3x or 4x from here wouldn’t be enough. I can’t imagine hitting 1MM on screen only to be tax raped and thrown back into high 6fig hell. Even a house paid in cash still puts you needing to work and only affording a 2024 Honda Accord.

[Anonymous No.57601416]

>>57601344
Idk how buying houses works to be honest but I'm hoping it's the bigger the down payment is, the smaller the monthly/mortgage payment will be. I'm living with my mom and hope to have $30k saved within a couple more years so maybe I can afford a small house I'd otherwise be unable to afford with my barely 40% above state minimum wage job.

[Anonymous No.57601439]

Housing is the ultimate shitcoin, as long as you save in low monetary impedance assets (BTC, large cap equities, gold), houses will only ever get cheaper

[Anonymous No.57601445]

>>57601364
I make $72 an hour and work 45 minutes put of my 12 hour work day. You'll never make it.

[Anonymous No.57601486]

>>57601416

A mortgage is like most any other loan in that you will bring down your monthly price over the life of it by paying more up front

So if you're trying to buy a $300,000 home and you're putting up $80,000 as the down payment, your mortgage is for $220,000 plus 7% interest over either 15 or 30 years depending on your preference (so a total of ~420k / ~625k paid at the end)

[Anonymous No.57601495]

>>57601398
lol you aint making it with that chump change. you need 10m to retire at age 50

[Anonymous No.57601516]

I got comfy small house in a small town in 2016 for 120k. Everyone screaming at me not to do it cause THE HOUSING MARKET IS GOING TO CRASH!
Paid off that mortgage last Dec. House now worth 300k but doesn't really mater much. I will live here till I die. I'll pile up retirement savings and start digging out the underground bunker.

[Anonymous No.57601580]

>>57601486
Ah, okay cool. Thank you. I'm gonna start crunching some numbers.

[Anonymous No.57601611]

>>57601344
wife and I have been in our second home for about 5 years and I don't think a single person under 60 has moved in yet. Best of luck zoomerbros, hope you escape the boomer landlord situation soon

[Anonymous No.57601637]

>>57601486
>>57601580
So if you find a house for $100,000 (I live in the south) and pay $30k as down payment, that'd be only $416 per month for 15 years. That'd be amazing. On top of that imagine moving in a family member and charging them even just $200/month for rent. Then you're looking at $216 per month.

[Anonymous No.57601648]

>>57601637
don't forget about your homeowners insurance and property taxes, usually in escrow with your mortgage

[Anonymous No.57601654]

>>57601344
I know this feel. I got "rich" (to a twenty five year old anyway) last bull run, bought a boat and a house and stocks. Ironically stocks were the worst part, I am just breaking even on those. No wait, the boat was the worst part, it is an actual ulcer costing me $1,000 month to dock and insure. The house left me practically destitute and somehow it costs more money each month WITHOUT A MORTGAGE than my fucking rent before did. I left 50% to ride in crypto which obviously tanked and then I had to sell some to treat my ulcers at 4 year lows. Now I have only $200k left in crypto, which is still like 50x better than I started with last bull run. But is like only 20% of what I needed to make it this bull run.

[Anonymous No.57601713]

>>57601648
Shit lol. Okay for my state, property taxes would be $840/year for a $100,000 house. And I'm reading that homeowners insurance ranges from $1,000-$1,700 per year, so I'll just say $1,350. + $840 = $2,190 ÷ 12 = $182.50/month.

So mortgage + all of that = $599/month. Still not bad as long as you come with a big down payment.
Thanks for the heads up by the way. I'm really clueless with this stuff.

[Anonymous No.57603292]

>>57601344
The minimum wage on Colombia is 330 USD, the average price of an apt rent is 400 USD. What this means, what there is a lot over there?

[Anonymous No.57604563]

>>57601344
The free rope at Ikea is my plan B