/biz/ - Business & Finance

[Anonymous No.8881385]

>renting
What's it like, just literally throwing money away?

[Anonymous No.8881409]

>>8881385
Not if you pay less than a mortgage and invest the extra capital into an index fund.

[Anonymous No.8881416]

lol @ rentcucks. I've had a house since I was 25 and my mortgage is about 1/3 the rental price for a similar property. Maybe less.

Plus, you get to be a man and do loads of interesting /diy

[Anonymous No.8881430]

live in a little comfy condo, all paid off, feels good

[Anonymous No.8881456]

>>8881385
Rentcucks are lower IQ than Jan ath fomo fags. Listen to their legitimisation why literallythrowing away 6 to 7 figure at some kikelord in their life is better than paying off property.

inb4 calling me a mortagecuck. Personally not paying off jack shit i heir upper 6 figure property from parents on the side :/ (should unironically rent it out to rich fags).

[Anonymous No.8881468]

>>8881385
Record high housing prices, rent an apartment, wait. Housing market crashes. Buy a couple houses, wait. Market recovers. Laugh on way to the bank at the people who said I should have bought a house at market high!

[Anonymous No.8881470]

I rent from my dad and pay him in crypto
basically investing in my inheritance; )

[Anonymous No.8881482]

>>8881470
>I rent from my dad
Good idea!
>and pay him in crypto
Bad idea!

[Anonymous No.8881484]

You pay property taxes and this is the wrong time to buy a house.

[Anonymous No.8881491]

>>8881385
>>8881456
>buying real estate at ATH prices
You were probably underaged in 2008, I can tell.

[Anonymous No.8881492]

>tfw stuck paying rent in NYC since shit is too expensive to fucking buy

[Anonymous No.8881493]

>>8881385
>Buy house at ath, goy

[Anonymous No.8881494]

>>8881430
>living in a condo
gg

[Anonymous No.8881501]

>>8881385
buying a house at ATH house prices when a crash is looming.

[Anonymous No.8881513]

I realized how cucked I was renting, so I moved back in with my dads. Now I can save money and study for a 6 digit job after I graduated.

Feels good.

[Anonymous No.8881519]

>>8881385
Freedom. You never "own" your property anyway, the bank can take possession if you miss a payment and the government can seize it if you don't pay property taxes.

[Anonymous No.8881521]

>not getting a free house from relatives

[Anonymous No.8881523]

>>8881430
>living in a condo
gg

[Anonymous No.8881527]

>>8881492
>NYC
I found your problem

[Anonymous No.8881534]

>>8881491
The absolute state of rentcucks.
>you underaged man
wtf man

[Anonymous No.8881537]

property prices at ATH, crash is coming, Rent now, buy with cash after the crash. the fuckin normies won't have funds available, they need to pay their death tax(mortgage)

[Anonymous No.8881541]

>>8881484
>the landlord doesn't include his property taxes in my monthly rental fee
you serious?

[Anonymous No.8881542]

>>8881468
This! I live in one of the few countres who haven't had a house bubble pop yet. Good years ahead.

[Anonymous No.8881547]

>>8881484
I bought but I feel I am screwed over by property tax... it is around 1 month of rent for a similar property

[Anonymous No.8881551]

>>8881513
It's weird but, somehow I get the feeling you're gayer than both your fathers.

[Anonymous No.8881573]

>mfw own a small condo, so my property value can probably only rise during the inevitable crash as everyone seeks cheaper housing

[Anonymous No.8881575]

Rent this year, buy next year when prices are 60-70% off.

[Anonymous No.8881593]

>>8881534
If you can't figure out the situations in which renting is superior to buying, you're a brainlet end of story. Take a finance course pls

[Anonymous No.8881602]

>>8881416
How? I had a condo that was nearly twice the sq footage as my current house and I paid less than now

[Anonymous No.8881605]

>>8881527
Can't go anywhere else. Fuck commiefornia and fuck anywhere else. I want to live and own property where I was born desu. Greatest city in the world even with these scum hipsters.

[Anonymous No.8881606]

>>8881519
This, housecucks don't seem to realize they are just renting from the bank and government

[Anonymous No.8881607]

>>8881385
whats it like trying to be RE whale buying the top of the housing bubble for a "quick flip"? Go back to serving at chilis

[Anonymous No.8881612]

> freedom to leave when lease ends or any time on month-to-month; don't have to sell
> no taxes
> if air conditioner or anything else breaks, have tech guy fix it that day at no cost

[Anonymous No.8881639]

>>8881573
LOL

> Thinks maintenance costs are static and doesn't think it's equivalent to rent.

> Thinks owning sky property is a real thing

[Anonymous No.8881646]

>>8881551

how did you know? ;3

[Anonymous No.8881651]

>>8881612
the freedom is the only valid pro. taxes and reserves are baked into your rental fee to cover such things. obviously you never see it, nor are you able to critically think, which is why you didn't already know that.

[Anonymous No.8881663]

>>8881605

>NYC
>Greatest city in the world

[Anonymous No.8881672]

>>8881651
>Implying landlords aren't operating at negative cashflow and the only reason they hold property is to gamble on capital appreciation.

[Anonymous No.8881678]

>>8881593
>keeps telling himself he can time the market

I personally wonder if there is like some inferior pleb gene. Can we trace the renttard back in family history? Sorry i should stop hating. Rent my fuckin shit man and go to work n shiet. Fuckin nigger :D.

[Anonymous No.8881682]

>>8881651
What about the maintenance argument?

[Anonymous No.8881691]

>>8881523
>living in a house

[Anonymous No.8881698]

>>8881482
>and pay him in crypto
>Bad idea!
Retard OP spotted

[Anonymous No.8881713]

Dumb housecucks already forgot about the year 2006

[Anonymous No.8881714]

>>8881682
Again, the costs are baked into your rental price
There is some comfort in just letting the rental office handle it though, rather than having to call the plumber/electrician/whatever yourself and deal with them

[Anonymous No.8881716]

>>8881385
>rent
>850 a month

>buy
>$1000 mortgage
>$900 monthly taxes

[Anonymous No.8881717]

As lame as it sounds, I am so glad I can come to a place where multiple people agree that we're in a housing bubble. All the normies from work keep asking about when I'll get into housing otherwise I'm going to miss my entry point and how housing prices only ever go up and I should take advantage of the low interest rates now. Two of them have fudged up payslips to even get approved. Fucking morons. A really decent brick house in Sydney used to cost 3-400K 6 years ago. Now a crappy fibro costs over a million in my area. How retarded do you have to be to take out a loan for a million for a house that doesn't even have solid walls.

[Anonymous No.8881740]

>>8881717
A guy I work with makes 65k a year and got approved for a 900k mortgage

[Anonymous No.8881748]

Vancouver fag here. Sales volume is down 30%, prices are slipping but condo wash traders unitonically expect new buyers to accept that condos and townhouses holding equal prices to single detached is a "lifestyle choice". The debacle is making me dangerously erect.

[Anonymous No.8881756]

>$1,200/month rent
vs.
>$8,000/month mortgage
I'll be going with the rent until I can get out of this hellhole, and then I'll get a house

[Anonymous No.8881772]

>>8881716
>>8881756
>these ridiculous numbers

[Anonymous No.8881777]

>>8881717
>>8881756
get out of the city baka

[Anonymous No.8881797]

>>8881385
>not living in your car
not gonna make it

[Anonymous No.8881799]

>>8881541
You were comparing your mortgage cost without prop tax to rent cost which includes prop tax, you fucking idiot. If you want to compare, add prop tax and cost of repairs to your equation.

[Anonymous No.8881813]

>>8881740
lol, if he actually takes that much out he'll be ruining himself financially for the rest of his life.

[Anonymous No.8881814]

>>8881772
Los Angeles is like that
>>8881777
I could but then I'd need to waste more than two hours of my life every day commuting and I'd rather spend a bit of extra money. Don't mind too much though since I get paid almost six figures just to look at monitoring systems and make sure servers stay up and running so it's a very comfy job

[Anonymous No.8881819]

>>8881740
Would be lying if I didn't say I was looking forward to a rate hike. All these people going through a few months of agony trying to come up with a single months mortgage repayment before inevitably defaulting. Not everyone, just the few that made incredibly stupid decisions like that.

>>8881777
Gold Coast eventually, a bubble burst would make these crypto gains come in handy though.

[Anonymous No.8881837]

>>8881385
It's shitty but I need somewhere to live

[Anonymous No.8881856]

>>8881740
My man remember that retard in 10 years when interest rates skyrocket then realise the last 10 years of his life have been to make banks richer. Kek
I have never taken a loan unless is fixed interest no early pay off fees and 5 years max. Almost paid 350k off now so just about own a shit load of prime growing land for green

[Anonymous No.8881858]

>>8881799
>i don't know how to follow a conversation, or read for that matter
the post

[Anonymous No.8881883]

>>8881714
you're a literal mongoloid. if an air conditioner system needs to be replaced in your house, that could cost potentially $5000 depending on the size of your place. dividing that across 12 months in a lease, that would mean the lease price is an extra $400 a month? what if the refrigerator breaks too that year? you're a fucking idiot.

[Anonymous No.8881888]

>implying I'm not saving more time and money by renting right next to work & groceries

fuck a commute to and from the suburbs. and I've already not had to pay for a new water heater and washer & dryer.

[Anonymous No.8881900]

>>8881813
The point is a lot of people are and this kind of behavior causes crashes.

[Anonymous No.8881921]

someone tell a retard why houses are bubbled?
i thought they weren't too bad in my area...how long till crash..1yr 2yr..?

[Anonymous No.8881920]

>>8881883
you should start an insurance business breh, you've got all the actuarial and underwriting skills needed

[Anonymous No.8881936]

>>8881409
>Buying
>Mortgage goes to your house
>2% is interest
>Close to inflation rate
>housing price goes up 2-8% per year

>you basically buy an asset and paying it off.


>rent
>all of it goes to the owner to pay of the mortgage, bills and small profit

There is literally no reason not to buy.

[Anonymous No.8881940]

>>8881900
yup, exactly. just like in The Big Short.

makes me happy that i'm renting for (relatively) cheap in a HCOL city.

i pay $825 a month in rent, splitting a 4 br house, where a starter home is $750,000+ right now. bring on the crash! i've got enough cash to grab something decent after for sure.

[Anonymous No.8881961]

>>8881936
>>housing price goes up 2-8% per year

this is very dependent on the area, and is also very dependent on whether another housing market crash is imminent (it is).

[Anonymous No.8881973]

>>8881921
>1yr 2yr..?
most likely, this one is predicted to be EPIC

[Anonymous No.8881988]

I own a couple properties and although I've never been rich it works because I was a property maintenance guy for years and I've never had to call anyone to fix something at my house or one of my rentals, its really is great especially when you're not in a big city. Only downside I've had is one of my condos was built in the 40's and the "common area" problems are a pain when the landlord next door won't pick up the phone about a busted pipe leaking into my unit.

[Anonymous No.8881993]

>>8881936
>>rent
>>all of it goes to the owner to pay of the mortgage, bills and small profit

except the giant down payment nut that you put in the market to appreciate

[Anonymous No.8881995]

>>8881936
Prices go down when rates rise.

[Anonymous No.8882006]

>>8881883
They have insurance policies for this shit you dumb nigger

You on section 8?

[Anonymous No.8882010]

>>8881430
>live in a little comfy condo,
>paying HOA's monthy
>another form of rent scamming
>you don't really own the place
>if you don't pay your HOA they'll take away your condo and kick you out and take forever to return your initial investment of the condo's cost.

[Anonymous No.8882033]

Wait, are there people who are dumb enough to rent? Seriously? I thought this was just rich college kids whose parents pay the bills.

Everyone I know just lives at home until they can buy, or buys ASAP.

[Anonymous No.8882040]

>>8881936
> home prices crash, lose hundreds of thousands in equity paid into
> you lose job, can't pay 30 yr mortgage after 15 yrs in, home taken away
> your homeless

[Anonymous No.8882041]

>>8882010

fucking this I own 3 houses and a condo and the fucking 800 sq ft condo is the biggest headeache imaginable.

[Anonymous No.8882042]

>>8881484
>this is the wrong time to buy a house
¿por que? I have been saving and have enough to buy a house

when's the ideal time?

[Anonymous No.8882052]

>>8881491
>>8881493
>>8881501
I am
>>8882042
When's the crash due, lads?

[Anonymous No.8882062]

>>8881547

This guys got it. Homes can appreciate relatively well, but property taxes and the liberals really like to fuck with forms of established wealth. I'm sure a similar amount of money into various other investments (like a business or hedge fund) may yield better results. At the end of the day, property taxes and mortgage interests can beat out a rent in terms of cost.

[Anonymous No.8882067]

>>8882052
they can't tell you when. they're also children that live at home with their parents.

[Anonymous No.8882083]

>>8882052
a year or 2. could be '29 levels

[Anonymous No.8882086]

>>8882041
>condo is the biggest headeache imaginable.

Right? It's fucked up. You're only making the the Condo Firm richer.

[Anonymous No.8882106]

>>8882067
stay poor!

[Anonymous No.8882108]

>>8882083
lol come on man

[Anonymous No.8882129]

>>8882086
>Condo Firm
the owners run my association

>>8882106
i'm pretty well off

[Anonymous No.8882158]

>>8881385
Because I fell for the city life meme.

[Anonymous No.8882159]

>>8881385
>renting is bad
Only if your the no job faggot whose renting
I bought 2 complexs from the profits i made from cyrpto my 20k a year job a few easy loans and my inheritance and i rake in dough

[Anonymous No.8882173]

>>8881385
I literally just closed on a house today. It'll save me $300/month versus what we're paying for rent now, but I'm too tall to fit through the bathroom door. Fuck the manlet-infested 1920s.

[Anonymous No.8882183]

>>8882158
Thanks to dumb fucks like you i will retire a millionare

[Anonymous No.8882199]

>>8882108
what the fuck are you doing on this board? do you know about derivatives? tranche? QE? lowest 2nd Q opening of stock market since '29

[Anonymous No.8882205]

Yes goy take a loan and buy a condo right now, don't worry real estate prices will keep going up forever.

[Anonymous No.8882209]

>>8882199
No, educate me so I don't go astray, anon

[Anonymous No.8882224]

>>8882183
your welcome fren

[Anonymous No.8882226]

>>8882199
>tranche?
in the context you provided, that makes no sense. you probably watched the big short and think you understand things. sad to watch.

[Anonymous No.8882230]

I saved up 50k about 10 years, and went to buy a house. Decided to rent and put it on stocks and eventually BTC. Now worth about 1mil but I don't own a house. If I had bought a house it would probably be worth about 1mil, but I don't know if I would have paid it off. I'm in front by renting

[Anonymous No.8882245]

>>8881936
Many landlords buy with cash, so you're not guaranteed that they're charging a premium over PMI.

[Anonymous No.8882257]

>>8881716
>1900 dollars a month
>actually owning something that you can later sell
Cant sell an apartment

[Anonymous No.8882274]

>>8882006
>They have insurance policies for this shit you dumb nigger
true but have fun with that. $700 a year and they come out and charge you service fees and try and repair parts first before replacing full units. or they pay for only a portion of the repair, OR if you're completely lucky theyll pay you after 3 weeks in the middle of february when youve been without heat while the comfy guy in the rental unit next door had his landlord cuck fix his heater the same day it broke.

[Anonymous No.8882285]

Depends where you live. In many EU countries renters have lots of rights (can’t be evicted unless they choose to leave or stop paying).

It also makes you much more flexible in terms of moving to find work etc.

[Anonymous No.8882330]

>>8881492
Fucking move out of that shit hole right now, stop living in the outhouse of the rich

[Anonymous No.8882346]

>>8881936
Your problem is that you think this 2 - 8% is somehow guaranteed, this is the normie sentiment and the basis of ausfags over investment. People are literally borrowing more money than they will ever earn in their lives.

[Anonymous No.8882347]

>>8881663
Don't bother, he fell for every trick (((their))) book

[Anonymous No.8882356]

Yeah and if you own you end up paying about 66% of average rent in property taxes. But I suppose if you live in butt fuck nowhere it's fine to own.

[Anonymous No.8882358]

>shilling realestate at the ath
renting actually serves a purpose if you want to sell your house when the prices go crazy high and still need a place to live

[Anonymous No.8882363]

I reference the high housing prices that have already been mentioned by someone else and that property taxes are paid on houses. Concludes I must be talking about renting instead.

[Anonymous No.8882365]

>>8882226
I was keeping it short, you know what is also cool.
Let me say this then, Look you the definition of a 'Banker' in Barons banking dictionary (its the blacks law of the bank world) 'A banker is someone involved in the business of banking'. You are involved in the business of banking if you have a bank account. You are a authorised representative of the bank, you job is to extend bank credit. when you DEposit your funds your are deposing yourself of the funds and giving them to the bank!
Wanna know anything else?

[Anonymous No.8882374]

>>8881385

I'm rich..i don't give a shit.

So uhh yeah..

[Anonymous No.8882375]

>>8882209
use google you normie fuck

[Anonymous No.8882380]

>>8882067

You understand what the fed rising interest rates means right?

Why do economically illiterate people like to flaunt their ignorance every time they can?

[Anonymous No.8882401]

>>8882356
no anon, property taxes are not 66% the cost of rent, what the fuck

[Anonymous No.8882406]

>>8882380
A doubling of interest rates does not mean people are earning twice as much money

[Anonymous No.8882409]

>>8881385
the opportunity cost is much larger than people realize. 300k-1m tied to house + keep up costs vs. same cash invested in indecies + renting. at 1m range we are talkin annual 100-200k savings by renting most of the cities

[Anonymous No.8882412]

>>8882230
There's a reason why rich people own stocks and poorfags speculate on mcmansions

[Anonymous No.8882421]

I've made my nest next to the fat cats. I don't give a fuck. I don't need to own. I come and go as I please.

[Anonymous No.8882424]

>>8882412
forgot pic

[Anonymous No.8882439]

I don't like renting, but I also don't like taking out massive loans that take longer to pay off than my current age.

[Anonymous No.8882451]

>>8882409
but if your budget for renting vs owning is the same, owning gets you a nicer place for the same cost.

Also realistically most people don't have the self discipline to "save the difference" and will spend to meet their income.

[Anonymous No.8882455]

>>8882380
yes, and that's been signaled to the market for quite some time, it's fine. if you want a real warning sign watch for the yield curve to invert.

[Anonymous No.8882473]

>>8882424
i-is it too late to get into stocks?
t. homeowner

[Anonymous No.8882485]

>>8882473
No we are only 5 years into a 20 year secular bull market

[Anonymous No.8882493]

>>8882473
impossible to know, start dollar cost averaging now.

[Anonymous No.8882495]

>>8882451
>but if your budget for renting vs owning is the same, owning gets you a nicer place for the same cost

I really doubt that. There is usually a reason somebody wants to sell a house. Secondly the higher the price of the house the more risk buying vs rent. If it's a shitty purchase by renting you are out within a month or two with no financial loss.

But By nature, especially women, want to "own" their homes for sure.

[Anonymous No.8882496]

>>8881385
When is the housing crisis going to hit, just asking for a friend?

[Anonymous No.8882512]

I'm not buying until we see another housing market collapse.

Then I'll pick up someone's foreclosure at 50% market value

[Anonymous No.8882522]

>>8882495
Why would you doubt that. It's literally how it works. People that rent are renting to cover their costs of mortgage + maintenance + insurance + taxes + whatever other expenses + profit on top - if you remove them from the equation then it's cheaper.

[Anonymous No.8882539]

>>8882522
In areas with high housing costs most landlords lose money

[Anonymous No.8882546]

>>8882522
No it is not. Usually rented houses, especially down town areas are BETTER quality not worse. The houses on sale are not maintained that well.

[Anonymous No.8882555]

>>8881385
OP is a brailet who clearly doesn't understand the time value of money. Renting can make a lot of sense if you have better investment opportunities.

[Anonymous No.8882558]

>>8882455

And banks instead of restricting credit repealed Dodd Frank, I'm sure that'll end up well...

[Anonymous No.8882560]

>>8881385
>treating interest rates as if they're zero
What's it like, having the economic sophistication of a Brontes character?

[Anonymous No.8882586]

>>8882512

Except that the government will pick them up for full price when they bail out the banks..

[Anonymous No.8882593]

>>8882539
they're not a charity, they're not losing money. literally why would they even bother

[Anonymous No.8882603]

>>8882558
hopefully it speeds up the crash and makes it far more devastating to the banks and idiots with two lifetimes worth of debt.

[Anonymous No.8882619]

>>8882593
Yields are generally negative for ausfags, they bother because they plan on making their money when they sell to a greater fool for a capital gain

[Anonymous No.8882632]

>>8882593
Because they think the house prices will go up forever and they can sell it to a greater fool

[Anonymous No.8882709]

>House prices can go up 3 times the rate of inflation indefinitely.

[Anonymous No.8882719]

these threads are fun because everyone is in a different scenario so there will be inevitable disagreements, but the truth is that renting vs. owning always has a set of pros and cons, and the price difference between the two for a similar living standard is what the market deems appropriate for that particular location.

some house values are overvalued in the city, some are undervalued in rural areas. fixed vs. variable rates, down payment required, length of the loan, and the desire/need for flexibility are all part of the equation and for different scenarios there is no magic formula.

all that being said, if anyone had a serious question i'll help if i can, jk kys

[Anonymous No.8882750]

>>8881385

I live in NYC what do you want me to do?

[Anonymous No.8882792]

>>8882750
Leave and rent in my complex

[Anonymous No.8882799]

>>8882750
kys!

[Anonymous No.8882827]

>>8881385
i live in australia, i refuse to buy into this horrible overheated housing market

also a bank probably wouldnt approve me for a loan right now

[Anonymous No.8882845]

>>8882750
Move
Your entire city is a bubble

[Anonymous No.8882847]

>>8882792

Can't leave I work for the city government. In ten years I get free medical

[Anonymous No.8882884]

>>8882792
>>8882845
>just move

[Anonymous No.8882915]

I live in Norway and the market never corrected here, instead the jewish led state just bought up a bunch of houses and apartments to house negroes and arabs to keep the bubble alive.

[Anonymous No.8882916]

>>8882522
>renting to cover their costs of mortgage + maintenance + insurance + taxes + whatever other expenses + profit on top

It doesn't work like that.
It is very difficult to charge more than market rates, you can't easily raise the rent to cover all your expenses.

[Anonymous No.8882919]

>>8881468

This. Buying in a high market (like now) is retarded. You are paying inflated price on a very expensive good.

Rent in high times, buy in low times.

[Anonymous No.8882927]

>investing in a high transaction fee, low liquidity asset
No thanks, I'm not an idiot.

[Anonymous No.8882941]

>>8881385
LOL math retard homeowners think they're not throwing money away. Let me spell it out for you. 400K * 4% annual mortgage interest = $1300 monthly interest. Who is REALLY throwing money away here OP?

If you're smart you'll save up for a down payment so your net monthly interest is BELOW what you would pay in rent.

[Anonymous No.8883007]

>>8881385
Enjoy paying property taxes and not really owning what you think you own.

Renting:
>free maintenance
>all utilities paid

How does it feel to know that I am mining for free(to me), saving a ridiculous amount of money whilst renting, and not have to worry about the utilities, enabling me to create my machines that are power costly to make?

[Anonymous No.8883017]

>>8881385
you idiot goyim in this thread don't get it do you. Your own house is not an asset. Renting is often the optimal decision depending on where you live.

What should be doing is buying rental property in good rent markets where the rent can easily cover the mortgage and then sum. Then use that excess cash flow to pay rent wherever you want to live.

[Anonymous No.8883030]

the biggest issue with this whole thread is no one has mentioned just paying in full the price for property without taking a mortgage

it is supreme in every way, if your renting you still pay for everything else so renting is cuck

[Anonymous No.8883048]

>>8883017
>the rent can easily cover the mortgage and then sum

The problem is in that "easily".
It is not easy to beat the market.
Make your calculations carefully before investing.

[Anonymous No.8883050]

>>8881799
>fucking this!

Sadly most people who buy houses are dipshits like him. They throw practically all their life savings into a house and never consider the fact that their taxes can increase and the maintenance costs associated with owning a property, which is roughly 1% of the assessed value each year. Additionally these brainlets think that buying real estate is an "investment" and think their house has to increase in value each year. It's not difficult to do the math and figure out if renting or buying is more cost effective.

t. Real Estate Appraiser for a local government.

[Anonymous No.8883076]

>>8883017
>as the landlord i will net profit, but surely MY landlord won't pull a fast one over on me
you serious?

[Anonymous No.8883087]

>>8883030
This implies property provides the best returns, which it doesn't, ever

[Anonymous No.8883090]

>>8883030
this is how i will be obtaining a house. not far off having enough to pay cash. fuck the debt life this alt season will be enough for me to do that until then i rent. stay poor mortgage fags.

[Anonymous No.8883091]

>>8883050
>t. Real Estate Appraiser for a local government.
it's cute when $50k/year plebs attempt to give advice

[Anonymous No.8883096]

>>8882522
In bubbly markets rent is a net negative for the land lord. They require equity gains to offset the loss. When the hot asian money chokes, the market will panic.

[Anonymous No.8883148]

>>8881385
Anyone arguing that renting is better is a cuck who cant save up 10k for a deposit.

[Anonymous No.8883188]

>>8883148
Honestly anyone arguing buying is better doesn't have the money to buy outright. Aside from the always goes up mentality property is so popular because it's pretty much the only thing you can borrow such ridiculous amounts of money for. If people could leverage anything like this they would be a lot smarter about what they invested in.

[Anonymous No.8883204]

>>8883148
> I have 650k in liquid assets
> I don't own any property at the moment
> You don't understand the time value of money

[Anonymous No.8883217]

>>8881678
>can't time the market
>the fed has kept interest rates artificially low for years
>they know the average American would never be able to afford a home if interest rates were to rise to a true market rate
>homes are staying on the market longer and longer each year
>LLCs and banks are buying the majority of the RE in the US market, not people
>almost identical to what was happening leading up to the 2007 RE bubble and subsequent subprime mortgage collapse.
>can't time the market...

You have no clue what you're talking about.

[Anonymous No.8883218]

>>8882847
> being a glow in the dark welfare nigger

[Anonymous No.8883222]

>>8883148
>10k for a deposit.

What state?

[Anonymous No.8883315]

>>8883148

here's my net worth. i rent a room in a 4 bedroom house in Boston, paying $825 a month.

my salary is $89.5k a year.

[Anonymous No.8883325]

>>8883017

This is the correct answer if you really wanna buy you should be aware that houses prices usually differ more than rent prices. For example a house would go for $1 mil and rent for $2k in san francisco, but in sacramento the price of the house is much lower, say $500k but rent isn't that much lower say $1.5k.

So the best decision is to buy in sacramento, rent it and with that money pay for your rent in san francisco.

[Anonymous No.8883349]

>>8883148
I could pay cash for the house I'm renting and own it outright if I wanted. Would be a terrible financial choice though because my returns in the market dwarf whatever savings I would make not paying rent.

[Anonymous No.8883373]

>>8883315

You live with family or roomates?

If roomates how is it?

[Anonymous No.8883394]

Anybody telling others that renting is throwing away money is clinically retarded. Renting, till the death of mankind, will always have situations where it's the BETTER option than owning property. Renting still gives you a place to live.

It just depends on YOUR situation, and sometimes the housing market too. I rent, but I could easily buy a home. Why don't I? Because my job makes me move every 6 months to a year once projects complete. Owning a home doesn't work for me right now.

Other situations with jobs, divorce, marriage, a kid, hating an area, traveling a lot, a market crash, or whatever, can easily make rent the best choice. I'm also in agreement with other people here that housing prices(in America) are once again hitting ATH and bubble territory. Another cycle is coming, and I'm sure as fuck not buying high.

[Anonymous No.8883399]

>>8883373
roommates.

found them on craigslist, it's been totally fine. we're all mid 20s to 30 years old, mixed genders. we're all fairly respectful and i'm a laid back person in general, so i really don't mind the setup at all. not everyone would like it though.

i have heard absolute horror stories about getting random roommates though, so you never know!

[Anonymous No.8883562]

>>8883091
I do fee appraising as well. You have no idea the pleasure knowing my assessments allow banks to fuck faggots like you for 30 years. Enjoy your "investment" brainlet.

[Anonymous No.8883608]

>>8883562
>my assessments allow banks to fuck faggots like you for 30 years.
i own my place outright
>Enjoy your "investment" brainlet.
i will, also i make around 4x as much as you do lmfao

[Anonymous No.8883618]

>>8882173
congrats anon. i just close on my first house a month and a half ago. felt good.

[Anonymous No.8883636]

>>8883608
You're trash talking on an anime board. Nice larp neet

[Anonymous No.8883728]

>>8883217

>own a house in California
>interest rates rose houses still went up in price
>days on market have gone down...most houses in my area sell within 2 weeks or less
>there will never be crash like 2008 because subprime lending was 3 trillion dollars back then now its at 4 billion .001 percent of what it was
>housing market will go down slightly because it always has but it goes right back up again
>built $60k in equity sitting on my ass in 5 months
>enjoy your rent faggot

[Anonymous No.8883770]

This guy in my neighborhood sold his house right before the 2008 crash to these stupid Mexicans that bought it at the ATH. They paid like 850k for it and now it's worth like 650k hahaha stupid beaners.

[Anonymous No.8883789]

>>8883728
>>there will never be crash like 2008 because subprime lending was 3 trillion dollars back then now its at 4 billion .001 percent of what it was
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaahahahahahahahahhaha

[Anonymous No.8883809]

>>8881385
I'm renting right now, I don't know how I'd even save to progress from here in my life. Help OP.

[Anonymous No.8883830]

Owning a house is a pretty nice thing until you want to get rid of it. Made it a pain in the ass when I was a single man when I needed to pick up and get the fuck out for a job opportunity.

t. bought at 20 and sold at 28

[Anonymous No.8883832]

>>8883789
i dont get it....you mad?

[Anonymous No.8883944]

>>8881482
Are ya winning, dad?

[Anonymous No.8883994]

>>8883832
>assumes subprime lending is the only reason a real estate market can crash

[Anonymous No.8884024]

>>8881416
Mahnigga

[Anonymous No.8884033]

>>8881416

What state are you living in?

[Anonymous No.8884063]

>>8883994
>Can't tell the difference between a regular crash and catastrophic crash
>Is a rentcuck

[Anonymous No.8884099]

>>8881501
The same people who think housing will crash are saying that btc will hit 40k

[Anonymous No.8884279]

>>8881921
You have until this October. Volatility is a leading indicator of a crash, and volatility has recently returned in a big way. Even better is that the stock market is looking eerily like the bubble meme chart.

[Anonymous No.8884299]

>>8884279
Good hopefully by then i will be able to save up enough to buy my first apartment complex

[Anonymous No.8884332]

>>8883809
you're spending too much on rent, go live in the ghetto or get a better job

[Anonymous No.8884344]

>>8881416
>living in a flyover state

[Anonymous No.8884356]

>>8881456

>inherits house from parents
>thinks he's superior to people that rent

uhhh..

[Anonymous No.8884369]

>>8884099
This is false anon, sorry

[Anonymous No.8884409]

>>8881717
>how housing prices only ever go up and I should take advantage of the low interest rates now
holy shit, is this the absolute state of the world?

[Anonymous No.8884487]

>>8882205

With a few very short term exceptions, real estate prices have literally gone up forever

[Anonymous No.8884491]

Reminder that any government which claims property tax is not a government that respects your freedom to own property.

You're merely renting your property from the state.

[Anonymous No.8884494]

>>8881605
>>8882347

JYC
earn 2x more than elsewhere
pay 20x more for a cuckpartment

[Anonymous No.8884526]

>>8881936
>>housing price goes up 2-8% per year
>>you basically buy an asset and paying it off.

hello, mr boomer

[Anonymous No.8884537]

IF YOU DONT OWN AT LEAST 3 HOUSES YOU WONT MAKE IT IN LIFE

take the BIGGEST loan you can - OR YOU WILL BE LEFT BEHIND

[Anonymous No.8884702]

>>8881385
What is wrong with renting a nice place where you want instead of owning some shit in the middle of nowhere?

t. im gonna inherit 2 houses and 1 apartment

[Anonymous No.8884715]

>>8884702
besides who the fuck takes a loan to buy a fucking house? you are like locked in that property for the rest of your cucklife

I Rather rent and move from place to place and be free or something

[Anonymous No.8884762]

>>8884715
this, i'm literally free to move across the world on short notice as i am not a mortagecuck

[Anonymous No.8885583]

>>8881385
I would like to relocate to some place more affordable.

[Anonymous No.8886101]

>>8884702
>>8884715
Some people aren't neets still sucking on daddy's cock, they actually have jobs and responsibilities

[Anonymous No.8886328]

>>8882603
>devastating to the banks
anon, I...

[Anonymous No.8886407]

>>8886101
Well if you have a family and you are planning the rest of your life already maybe it is a good decision to take a loan and buy a house but for me it looks depressing i mean i don't know how long a loan takes in USA to pay off but in some places you have to pay up to 15years or even more, i feel like it is a really heavy bag unless you have a family and a really really well and secure paid job.

But if you are a young person i think it is better to just rent in a good place and enjoy where you live even if you have to pay monthly for it rather than live in a shitty place but 'muh it's mine'

[Anonymous No.8886463]

>>8881385
My parents pay more on their mortgage-free property taxes than I do on a single year in rent.

[Anonymous No.8886529]

>>8886407
>"Up to 15 years!"


Sorry friend - hate to break it to you, but many folks wind up with a thirty year FRM

[Anonymous No.8886659]

>>8884356
it implies his parents were successful enough to build some form of generational wealth, and unless mom has been banging the mailman, he is the combination of their genetic makeup. so technically yes, this anon is superior to you, at least in the present moment

[Anonymous No.8886663]

All of you guys in this thread falling for the "buying a house is always better" meme are forgotting rule #25 of un-tarded /biz/, which is
>never LIVE in an investment

[Anonymous No.8886701]

All of you guys in this thread falling for the "buying a house is always better" meme are forgetting rule #25 of un-tarded /biz/, which is
>never LIVE in an investment

[Anonymous No.8886711]

Not everyone has parents that let their kids love in their house past the age of 18.
How the fuck is a 19 year old suppose to afford a mortgage ?

[Anonymous No.8886720]

>>8886711
Live*

[Anonymous No.8886744]

>>8886529
Yeah i know but as i don't know how things are done in USA i went a bit conservative, i just find it so depressing to take a loan for that time unless you already have a family and really want to settle down and you are thinking about what your kids are going to inherit etc,
I don't know i think the fact of just settle down like that makes me depress, i guess im young and have different goals

[Anonymous No.8886803]

>Real estate prices going up.
>People paying 50k above market value for a house.

I am not overpaying for an already overpriced asset only to watch it drop within 2 years.

Great now your 190k overvalued house for which you paid 240k ik worth 160k. Congrats on the 80k loss.

[Anonymous No.8887101]

>>8882173
use savings to renovate, increae value of the house and continue raking in the value of 300 dollars cost savings afterwards.

[Anonymous No.8887553]

>>8882226
Lmao this, he probably still has no idea what it even means

[Anonymous No.8887601]

>Not having your parents buy you a flat for your 18th birthday
What are you, a pleb?

[Anonymous No.8888026]

>shilling real estate bags on an anime forum

[Anonymous No.8888990]

Rednecks can make anything out of anything.

[Anonymous No.8889196]

[Anonymous No.8889538]

>>8882257
>buy for 500k
>housing market crashes, sell for 300k when you get evicted or want to move out
>meanwhile you paid twice as much than had you rented

[Anonymous No.8889577]

>>8881936
>rates go up
>no 2% interest
hello, Ben Bernanke.

[Anonymous No.8889614]

>>8889538

this

[Anonymous No.8889653]

>>8889538
so basically never buy a house until a market crash, which I think happens every decade

[Anonymous No.8889694]

>>8882052
Markets can be highly individual. I would consult local experts. While there may be a recession the same type faulty housing loans is not the same as in 2007. So at the national level it might be 5ish years before a housing bust. But if you can pick a solid deal in your area and afford the mortgage its a good idea.

[Anonymous No.8890640]

look at this chart and tell me that buying a home is a better investment than just dumping money into index funds.

there are many good reasons to buy a home, but long term investment is absolutely not one of them. if you can rent for a certain amount cheaper and dump the extra you would have spent on a house into index funds, you'll make more money than "investing" in a house.

use this page to run your numbers for your area to find out which option is worth it: https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html

[Anonymous No.8890823]

depends on your area. I was paying $2900/m rent for a 3 bed apartment, then bought a 4 bed house in a similar area. mortgage is $1700/month, total cost w/taxes, insurance, maintenance is around $2300/m. I put 20 % down though. house is more than twice as good imo

[Anonymous No.8890867]

>>8882919
When will it crash? Everyone seems to have this opinion yet nobody has any opinion on when it will happen. I know it’s speculative.

[Anonymous No.8891078]

>>8881385
>People complain “muh Melbourne housing”
>Put 20% down for modest family home
>Interest on the repayments is less than rent
>Value of house is increasing every month nearly as much as I have coming in from my job

[Anonymous No.8891518]

>>8886701
this how bout save and rent then buy the fucker wih cash or mostly. why ur not chained to it and you can time ur entry better with the banks rather than buy their bags.

[Anonymous No.8891532]

>>8881416
you probably live in some little shit hole in the middle of nowhere though. I'd rather die.

[Anonymous No.8891773]

>>8884491
The only post with merit in this whole damn thread

[Anonymous No.8891794]

If I bought instead of rented, I wouldn't be able to live in nearly as nice of a place/neighborhood as I do now.

Plus, I make enough for it not to matter.

[Anonymous No.8891819]

>>8891078
>increasing every month
until the bubble pops and you lose everything

[Anonymous No.8891844]

>>8882205
What trend does this remind me of that I see frequently on this board?

[Anonymous No.8891852]

>>8882495
People usually want to sell a house to move into another house. It's not that hard to figure out.

[Anonymous No.8891858]

>>8883007
Most rentals require you to pay for utilities. What the fuck are you on about?

[Anonymous No.8891870]

>>8891819
that's why you go Michael Burry and short the market when the time comes

[Anonymous No.8891873]

>>8891844
lmao biz btfo

[Anonymous No.8891887]

>>8881385

>pay to nice white couple landlords

Or

>have a jewish bank own my residence, pay taxes to the state, and be responsible for any repairs and all utilities

Feels fucking great desu i love hearing my normie faggot friends whine about house shit every day

[Anonymous No.8891905]

>>8891887
>Feels fucking great desu i love hearing my normie faggot friends whine about house shit every day

fucking this. you know what my work mate is doing all day tomorrow? fucking lawn work. you know what i'm doing? whatever the fuck i want, and my rent is HALF what his mortgage+taxes is.

[Anonymous No.8891915]

>>8887101
How much does it cost to raise the height of the roof by one foot?

[Anonymous No.8891918]

you are a fucking retard if you think owning a house is better regardless location. Good luck with any repair you have to do, oh and the interest, isnt that throwing money away as well or na?

Having a roof over ur head costs money, if you wanna live in some hilly billy place it might be well worth it for you to purchase, otherwise dont be a moron and realize we r past the housing craze. It began quickly in the 50s its gona end quickly as well.

[Anonymous No.8891925]

Your a fucking moron. Whats it like being trapped in the same location until a buyer comes for your house? Whats it like maintaining shit at an average rate of $10.00 an hour saved instead of trading make $100.00 an hour? Whats it like owning what will soon be a depreciating asset as by 2020 we will have another significant market recession/crash. If you bought your house after 2008 your a fucking moron.

[Anonymous No.8891932]

>>8891918

t. soygoy beta boy

[Anonymous No.8891933]

>>8884344
>>8891532
How does that make sense? If his mortgage is way less then rent for his area, that means he bought the house at a price that's way lower than market price now.

For it to appreciate that much it means he has to live in a trendy place like Seattle where home prices shot up in the last ten years. The absolute opposite of a shit hole

[Anonymous No.8891962]

>>8881416
>Plus you get to be a man and do loads of interesting /diy
i.e. you bought a shithole and now do wagecuck work for no money at all, grats. I bought a house that doesn't need me to slavecuck, and when I want something done to it I pay somebody because I have self respect. Nice job talking yourself into slavecucking being a good thing, though. Why don't you go mow lawns for a living if you love it so much? kek.

[Anonymous No.8891968]

Not buying land and building your own house for a fraction on the price.

Kek

[Anonymous No.8891984]

>>8891932
whattt

[Anonymous No.8892071]

>>8891962
You pay people to do things you can do for free? You are the definition of a goyim.

[Anonymous No.8892359]

I can't afford a donwpayment or an upfront cash payment desu, houses are crazy expensive here and if I got a mortgage I'd be paying interest out the ass. Rent isn't ideal and the market sucks but for now it's a better option than buying, especially when I'm not sure I want to live here long term.

>>8881409
I guess there's this too.

[Anonymous No.8892561]

if you think buying a house is a good investment you're fucking retarded.

[Anonymous No.8892690]

>>8891968
maybe where you are there's value, the reality for ausfags is there's pretty much nothing in it except a headache. every retard and his retarded fucking dog thinks the development meme is top tier so the margins are long gone unless you have the ability to actually work them from start to finish. there are deals out there but it's kind of like a retard mining shitcoins, they get lucky the street pumped and think they're property geniuses with a bit of a profit, in reality they have no margin and without the bullrun would be bleeding. if the reversal is real a lot of these people will start buying into bit coins.

[Anonymous No.8892697]

how the fuck can I own my own property in the UK at by 25?

My salary is £32k Before tax

[Anonymous No.8892730]

>>8892561

But you essentially go 5-10x leverage on a house. Except you are never liquidated as long as you pay your interest. And the entire system if rigged to make sure you win.

[Anonymous No.8892976]

>>8892730
for us these interest only periods are fixed, interestingly FUD is starting to emerge that a bunch tick over to interest + principle over the next few years. what people are actually doing with what's left after their interest repayment is pretty key here, from what i can tell it's either smashed avo or more property, which is obviously going to be a problem

[Anonymous No.8892999]

>>8892561
What is the beta of the housing index compared to the S&P?

[Anonymous No.8893121]

>>8881385
>What's it like, just literally throwing money away?

Sucks man. All the houses in California are priced at half a million dollars or more. There was even a burnt down abondoned house and the owner of the lot still wanted 2 million for it.

Fuck this stupid society. Thanks baby boomers for being greedy assholes.

[Anonymous No.8893332]

>>8892071
Because of opportunity cost you dumb min wage/Neet.I simply make enough per hour to pay people to do simple stuff for me if your skills were worth anything you would do the same

[Anonymous No.8893360]

>>8893332
Just admit you're not a man, Jesus Christ.

[Anonymous No.8893415]

>>8893360
Being a man is doing jobs that kids could do after few weeks of training? Dude you are pathetic if you do your own renovations gardening etc because this is time being pissed away.Hobbies are a separate thing

[Anonymous No.8893454]

>>8893415
>Become a man
> do the job of a kid
>I'm now a kid because I'm doing a kid job
>the realization that I a fucked up.
>No longer a man.

[Anonymous No.8893587]

Every country currently considered a white/Western nation will be overrun with fucking Muslims by 2050. Your homes value will erode, but so will your so called rights. You're better off moving to some African country that's 90+% Christian free from any white guilt bs. Might I suggest Luwanda?

[Anonymous No.8893880]

>>8893360
>>8893415
Don't stop arguing ever

[Anonymous No.8893912]

>>8881385
>Parents don't own property
>Have to move out because living with my mother became untenable
>Houses are too expensive for my entry level wages
>Have to shell out almost half of my monthly income on a shitty studio apartment
The saddest thing is that I still think it's worth it to be away from my family.
>mfw someone in the complex pulled the fucking fire alarm while I was writing this

[Anonymous No.8893935]

>>8892071
lol keep trying to convince yourself doing jobs illegal immigrants are FORCED to do because it "saves money". My time is worth WAY more than any Mexican who comes in and paints or fixes my stove or what the fuck ever, sorry yours isn't. Sounds like your life sucks. Enjoy fixing up your shitbox.

[Anonymous No.8893963]

>>8893935
Disgusting soyboy.

[Anonymous No.8894059]

I would not even think about all this if I actually have money. I'd probably focus all my thinking in getting more money. Passive income and shit.

I'm only worrying about the monthly payment be it mortgage or rent because all I'm thinking is how much of that amount will be taken out of my wageslave salary.

[Anonymous No.8894505]

>>8881606
>they are just renting from the bank
I'd rather pay 4 percent interest to the bank and build equity in my home than pay 100 percent to a landlord and gain no equity...

[Anonymous No.8894523]

>>8881612
So true... maintaining a home is way more expensive than the 10 thousand dollars you spend on rent every year...

[Anonymous No.8894592]

>>8881714
Our kettle, bath roof and windows have all needed repaired or fixed.

If I had to deal with this shit directly while studying postgrad I'd of dropped out.

Renting helps but I'm saving up for my own place by the time in turn 27