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/biz/ - Business & Finance

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7688757 No.7688757 [Reply] [Original]

Real estate is a farce. Like school tuition, banks and construction companies have colluded to maximize the price, stretching the publics leverage as wide as possible.

If you buy a home at 20% downpayment 30 yr mortgage (the standard) you end up paying DOUBLE the cost of the home. Meaning, for a 500k home, you will end up paying 500k in interest in addition to the 500k principal.

DOUBLE!

thats why home prices have gone up so much. The market needs to account for this interest add-value. But ofc in reality its complete bullshit money that goes straight to their pockets.

Downpay at least 50%, or you wont be making profit. And if you buy at a bad time, you will be underwater forever.

>> No.7688818

>>7688757
So the reason why we're all here is so we have more than half a million. Also if you have 500k buy a home worth 300k and put the other 200k into LTC
Faggit

>> No.7688830
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7688830

>> No.7688864

>>7688757
stop fucking pornposting

>> No.7689036

>>7688830
Is this OC? Consider it stolen.

>> No.7689076

>>7688757

I just bought a condo for $120k, put $50k down. My monthly payment is around $400 monthly.

I was previously renting a similarly sized 2 bedroom apartment in the same area for $800 monthly, and they kept raising the rent.

That's $400 i'm saving every month, and most importantly, the payments are going towards my equity in the house instead of a landlord's pockets.

I eventually plan to own 2-3 condos, and renting them out while living in one.

I have a $1mm+ crypto portfolio, and would never make the mistake of buying a $500k house and paying property taxes on it for the rest of my life

>> No.7689210
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7689210

>>7688757
What's laughable are all these cucks who think they're a landlord but prices are so high they're basically subsiding the renters AND making interest for the banker jews AND getting cucked by government taxes

>> No.7689257

>>7689036
Yes.

>> No.7689477

>>7688757
>Downpay at least 50%, or you wont be making profit. And if you buy at a bad time, you will be underwater forever.

You give good advice anon but just to play devils advocate,
You are losing money paying more then 20% of principal if you can make more in the markets with that extra money, plus your wealth for better our worse is more liquid.

>>And if you buy at a bad time, you will be underwater forever.

It completely sucks to be underwater on your house. I have been there, it is a terrible feeling, fortunately I used that to my advantage and bought out my x wife in a cheap market.

Putting on the tin foil hat, tptb,state governments for tax reasons, fractional reserve banking, 2nd mortgages on house to buy useless shit ect ect all want to see house prices rise at a steady rate of around 3 % a year, if you plan on living in a area a while you can out hold a dip.