/biz/ - Business & Finance

We can't afford them

>>16748712
Its cheaper to rent and invest the savings

>>16748712
i just bought this house
https://www.zillow.com/homedetails/638-Blarney-Stone-Ct-Galloway-OH-43119/34093677_zpid/

>>16748734
>Its cheaper to rent

audible kek

>>16748751
nice rebuttal

>>16748712
because millennial are poor due to being redpilled, too many young wagies working paycheck to paycheck will never end well. There are more people in this generation living paycheck to paycheck and working minimum wage jobs than any other generation which is a warning sign. The world will unironically not last another 50 years.

>>16748739
Sold 2008: 90K

Bought the top. NGMI

>>16748758
I was 14 in 2008.

>>16748776
I think what he means is you should have waited a couple more years to buy a house, especially when there is talk of a recession the top is near or already being reached.

>>16748784
It's not that big of a deal it's not like I'm making minimum wage and I'll have it paid off in 15 years

>>16748712
I'm busy watching porn and living off savings. I don't have time to think about buying a house. I'm living comfy right now.

>>16748712
>$7000 in taxes on a $400,000 house
>25% of the mortgage payment is tax

>live in the richest and most powerful country on earth
>have the ugliest, most poorly constructed houses
why are americans like this?

I like my work, but I can't really anticipate doing it for the rest of my life. The company might not even survive that long. Buying a house just seems like a financial trap.

It might be different if I lived and worked in some central hub, but I most likely would have to relocate for a different job.

I’m 25 and bought a duplex, feels good not to be like everyone else.

>>16748739
>Doxxing yourself on a Mongolian Kite Surfing Forum

>>16748712
I'm a millennial, I bought 3...

>>16748712
Because I don't want one. I would rather invest my extra money into other financial instruments. Why do I NEED to buy a motherfucking house? Oh boy, I can't wait to be tied down to one area my whole life. I can't wait to pay all of those home improvement and upkeep costs every year on top of taxes.
>inb4 your rent is already calculated by the owner based on these things.
True to a point, but let's see how smug these homeowner cucks are when they get their house taken away by the government because they owed $100 in back taxes or some bullshit.
>inb4 just buy a house and rent it out to someone.
Fuck that shit. With my luck I'd get fucked over by the tenant.

>>16748727
" we "

>>16748712
unironically they were paying property taxes for 45 years, and i bet they done a lot of remodeling to the kitchen, bathrooms, and the outside exterior looks freshened up

>>16748984
NOOOOOOOOOOOOOO YOU CAN'T JUST HAVE A COMPLETE DISREGARD FOR PRIVACY BECAUSE YOU KNOW NO ONE ON /BIZ/ IS GOING TO DO SOMETHING

G-GUYS W-WE GOTTA TP ANONS HOUSE!!!

>>16748993
Owning a house can actually be cheaper than renting. But it really ties you down. Before you can move, you'll have to find a buyer or someone to rent it to, otherwise you'll be paying double for housing. This is what's stopping me.

>>16749002
Just sent 10 pizzas to your house, enjoy

>>16749015
>REEEEE WHY CAN'T I BUY A HOUSE LIKE HIM!!

You can bro all you gotta do is move.

>>16748757
"There are more people"
You could have just stopped there.

>>16748739

>West Columbus

Welcome Blue Collar brother! Be sure to hit up Tony's Coneys before going over to Batelle Darby to watch the Bison graze.

>>16748712
Boomers. Out.

>>16749052
I've never actually been to tony's coneys before. I considered it, but never bothered. Is it good?

What industry you in? Warehouse or manufacturing?

>>16749002
You're lucky biz is one of the least autistic boards but you still might end up with shit-covered bog roll all over it

>>16748739
pics or it didn't happen

>>16748712
Because we are all going to get shipped off to Iran along with the older Zoomers. If we leave the country for years then we have no need for homes. Boomers will have to sell them to the Chinese.

>>16748712
attached the value of that house in modern dollars for convenience

>>16749061
Tonys is good, they have solid hotdogs and ice cream. I work in water quality sampling so I get sent out to collect water samples around central Ohio.

>>16748981
>I’m 25 and my dad bought a duplex

>>16749127
my professor worked at a wastewater facility place, knew his stuff on the engineering side.

You live on the west side too?

>>16749116
NOOO YOU CAN'T JUST DISMANTLE OP ARGUEMENT LIKE THAT, PEOPLE DON'T KNOW ABOUT TIME VALUE OF MONEY AND INFLATION!!!

>>16749116
>inflation rate is 3.65%
>everything is fine

>>16748739
On my way. I'll bring a six pack of locally brewed IPAs and a box of condoms

>>16749233
cum at me bro.

>>16748751
Low IQ poorfag millennial spotted

>>16748712
As a landlord, I am not complaining lol. I get to jack the rent up 5-8% each year and these dumbasses keep renting. Building equity wasn’t taught in university I guess

>>16749002
Enjoy your terroism

>>16748739
How is ohio? Many niggers?

I could rent a place for how much that fucking property tax is lmao

>>16749146
My dad is dead lmao, I saved up 15k from my job and bought a cheap foreclosure on Craigslist, repaired and fully owned, learned a lot while fixing it up too.

>>16748933
oh say can you see

>7k per year just in taxes to own Boomer shit

This shit needs to burn on every level

>>16748739
Nice trailer.

Based Philadelphia suburbs bro

>>16748739
hey I'm in columbus too!

>>16749709
I'm expecting to get harassed at my house now

Ben Mallah on YouTube https://www.youtube.com/watch?v=kT6pCooVkiY

>>16748712
>highlights $49,000 as if there has been some exorbitant price increase
$49,000 to $419,000 over 44 years is less than 5% annual increase compounded quarterly.
S&P500 averaged like 18% over that period.
Housing 'investment' is a meme.

>people unironically believe that the powers that be will allow another recession to happen
yup, i'm laffin

>>16748712
GFC made getting into the job market hard for millenials who were coming out of High School and College at the time. Means they haven't been able to accumulate savings or enter higher income bracket, that also means they can't afford to have kids.
Let's face it, a huge motivator for home buyers is the intent to raise a family.
On top of that, Not enough millenials getting laid so not enough sex to produce kids, or when they do get laid it's emotionless tinder flings that don't turn into anything long term and relationshippy.
For left wing millenials, they are convinced climate change is real and that the world is fucked - they see no point in 'leaving a legacy' because there will be no earth to support that legacy, so they become more short term in their thinking and spending, "living for today, because there is no tomorrow". Income volatility only increases this behavior, which as we established, because of when they came into the labor market is a issue.
Remember all those people who believed there was going to be a rapture in 2012? That guy who spent all his savings, like 100k on advertising for it... that's where lefty millenials are at.

>>16748712
>Property tax 7k a year
Damn son

>>16749940
Oh I forgot to add, influx of Chinese buyers, especially outside of the states in places like Vancouver or Australia has had massively non-linear effects on housing prices, pushing them even further than they reasonably should be. If I'm not mistaken this is because of the new Chinese Middle Class and Chinese currency manipulation is way way worse than even the Feds, by transfering your Rembini/Yuan into Dollars, or Dollyrydoos in the form of a property outside of China, even if you lose money, the loss is far less than if you kept it in cash or property in China.
Simply put, as a millenial not only are you competing against boomers who have had a lifetime to amass enough capital or at least are borrowing against the equity of a house they've had decades to pay off to buy a new house or second investment property, you are also competing against the Chinese.

>>16749946
Im in Illinois. There are countless houses around 300K with 10K/yr in property taxes. They are considering hiking property taxes up another 33%.

>>16749946
>>16750038
Seriously what the fuck? Is this common? What in the fuck is that shit even paying for?

>>16749452
>"My dad is dead lmao"

Really makes you think..

>>16749452
>My dad is dead lmao

>>16750243
Pensions, salaries, debt service. For example, my Ceramics teacher from high school retired on a 95K/yr pension.

I live only to be self-indulgent. I literally do not care about anything other than that. Morals are dead and as such I have no reason to do anything but invest money towards things that I like rather than towards others', namely society's, approval. People will come up with a load of shit to try and justify it even when they feel the same, but hedonism is its own rewards so I see no reason to lie. Greetings from the front page!

Ok I would buy a house in the US and rent it out but I am in Ozfalia. How can i do this, any anon realestate agent that can explain the pit falls risks.

Would u like to be may agent?

Eg I buy u manage?

>>16748712
tax assesment $175k, property taxes $7k
what the actual fuck
he is paying rent in his own house
Still has the audacity for asking price of $419k , snitch on that boomer to IRS for some reassesment and fucker's taxes will be 20k

>>16750243
niggers and..

>>16748712
ngl i did want to invest in a house but seeing as all i'll be doing is putting my money into the governments coffers to import chang, tyrone and pajeet I decided to feign mental illness and hired a private psychiatrist to diagnose me as Bi-Polar and live off welfare and force the government to house me.
I now rent a property worth 600k for 100 per week, pay no taxes, I have dual nationality and Trade crypto using my second passport to avoid any taxes and bought chainlink at 17c.
Sold kinda early tho but still x20 my initial investment and had some amazing unique experiences which are too illegal to discuss here from it all.
Thanks /biz/
also fuck niggers

>>16748802
>I'll have it paid off in 15 years
>This is what debtlets actually believe

>>16749227
Well inflation is too low, then people will just save their money instead of consuming it. Which is obviously not good. People are not supposed to get rich and move between socioeconomic classes in a stable society.

The 3,5% inflation beats the grandpa who just keeps saving money instead of buying iphones and tvs and cars and trips to Thailand and Greece.

>>16748712

I unironically would love to buy a house, even now, but I'm going to be paying back student loans well into my 50's so it's not going to be until I can really afford the mortgage which may be a decade yet.

Seems pretty fucked that I need to throw money in the garbage by renting just because I wanted to pursue education beyond college.

Mortgage rates in 1975 were 9%.

>>16748739
I personally wouldn't want to live in ohio but good for you

>>16749946
You think that's bad, come to north new jersey. Taxes are like 10 to 20k on average

>>16748712
>an entire house for just 50k
Fuck boomers. I know inflation and all, but jesus.

>>16748734
Not anymore it's not. It's cheaper to own a house. But houses are expensive right now. Some say it's because of immigration but jews are behind it either way.

>>16751171
>then people will just save their money instead of consuming it.
Brainlet tier argument. According to that logic, everyone would just move their fiat into gold, bitcoin or any other deflationary assets. And yet, the market is still liquid. Taxation is theft and inflation is extortion.

>>16748727
/thread

>>16748712
Ain't buying in this Jewish bubble.

>>16748739
What are you going to do about that space where fridge goes and they put a laminate counter top right across to the wall?

>>16748739
sending you pizza fren

>>16748712
I live with my grandparents and don't pay rent so there is no incentive to owning a home. Plus, I get better returns off of using leverage on stocks than I can with buying homes.

Why should I?

>>16749233
>>16749255
booze and poshy get

>>16749208
>the house is being sold for double its inflation adjusted price
>it's just time value bro, this is a good system

>>16748712

For the people talking about taxes:

Abington is a middle to upper class suburb about 40 minutes outside Philadelphia. It is near a Pennstate campus, has very good schools, and does not have many minorities

It’s a dream suburb for people who want to live in a good area with good schools, not deal with many blacks, and has an easy commute to Philadelphia. That’s what you’re paying for with taxes

That is a fine price for me to pay if I had a family, living as single, not so much

>>16749227
>Inflation rate is 3.65%
These 5% dividends are gonna make me rich!

>>16749996

Fuck... what can one do? I just want to hole up somewhere in the world in order to wait out the incoming shitstorm.

>>16748802
the kikes know you're in debt
you will be out of your job in 2 years
they're going to make sure you stay in debt

>>16748712
I'm on the upper end of being a millenial, work in VC. Any of my friends with a three digit IQ who make enough money to buy one are all saying the same thing, we are waiting for the market to crash again.
The entire generation lived through 2008 and has no faith in the economy. They know if they're patient they'll be able to snag up property at a reasonable price instead of the 10x shit you see for houses like the one in OP's picture. Plus, property taxes suck.

>>16751120
What are the other advantages of holding a double citizenship ?

>>16753053
This.
Get him into debt.
Force him to accept lower salary or fire him right away.
They want him indebted but not for the sake of debt, rather it entitles them to take all his possesions.

>>16751120
>I have dual nationality and Trade crypto using my second passport to avoid any taxes
The IRS still wants its cut.

>>16748739
that looks comfy

>>16750360
How is this even legal? Wtf

>>16753413
Why would it not be?
You think you're free? LMAO get back to work. The boomers, diversities, and missiles to enrich the planet need your support.

>>16748712
Because it's time to buy BTC now.

>>16748712

>$49k in 1975

This is supposed to be remarkable? Nigga have you ever heard of inflation and appreciation? $419k is perfectly doable for a house in a nice area if we're talking dual earners.

>>16748739

Not bad anon. South Columbus is pretty underrated with the north being so fucking crowded and overpriced. I bought a duplex in Old Towne East and am renting out the other side.

Now consider deleting this post before someone sends you a bag of elephant shit or starts posting your picture every day

>>16748712
The absolute state of /biz/lets. Here's what's really going on: if you can afford your down payment, then you're likely to be able to afford the mortgage. "Youre going into debt!" I can not fathom a more stupid fucking statement. Houses are basically, in effect, fucking gold you goddamn idiots. They're tangible assets that hedge against inflation and guess what? HOUSES BASICALLY ARE UNTOUCHED BY RECESSIONS (given you're not buying at the top of a meme-cycle of some up and coming neighborhood).
Debt can be a win-win assuming you can nail down a legitimate interest rate, for example, consider this (numbers simplified),
Person A: Spend 10 years renting, you spent 120,000 on rent. You literally have nothing to show for it.
Person B: Spend 10 years "slaving on your debt-slave mortgage", you spent 120,000 on it.
Assuming person B sells their house for a margin that's LESS THAN 120,000 THEY STILL COME OUT ON TOP. YOU ALL ARE FUCKING RETARDED.

>>16750038

There's a reason why Illinois has the worst net migration numbers in the Midwest. Imagine having to live in a midwestern state with East Coast-tier overregulation, taxation, and cronyism. Yuck.

>>16748712
Try this example,
>Buying a certified pre-owned with very low miles, or a new car at the end of the model year is so stupid! So expensive! Give me the cheap car!
vs
>I lease cars, I like the freedom of having something new!
Fact of the matter is if you have money to get into a house, do it. If you have so much money that money ceases to matter much, sure, rent. Not arguing against that lifestyle.

>>16753581
t.boomerpilled

>>16753601
What about if you're in a situation like me:
Have plenty for a fat down payment.
Make plenty to make the mortgage payments and it's still like 1/3 of my net income.
BUT...
Probably want to go to a west coast city in a year or two to get a bigger salary (I work in tech) and don't want to sell the house here.

What do? Buy one anyway and rent it out when I go? Let a property management company take care of everything related to that?
Just don't buy anything until later? What do I do with my cash until then?

>>16749127
How do I get into water quality sampling.

>>16752659
Abington is right outside of NW Philly though which oozes it's awfulness outwards. Last time I was there I saw a ton of really nice old estates not a ton of new construction like bucks though.

>>16748984
No ones gonna do shit, come on now

>>16753627
I would generally suggest against personally renting which is why a lot of these property management companies have popped up. They generally only make sense if you either OWN or MOSTLY OWN the property, for example, if you're making mortgage payments on a property at $2000 a month, then the rent is probably going to be around.. maybe.. $2250-$2500? That's not enough of a profit of $500 a month, the company also wants a cut. Likely wont even cover the taxes, HOA, all that.
Now, if you're making mortgage payments of $500 on said property, and you're GAINING $2000 per month on it? Sure. The renting company that handles the tenants background checks, general property management etc, that makes sense, as they'll take a cut of the $2000. You may end up with an extra $1000 on average given things like a new roof, etc.
Personally, I think if your situation is that you know you're going to move out to California and all that, I'd PERSONALLY find the absolute cheapest/safest place to stay so you can leave at a moment's notice. On another note, I'm assuming you might not be able to afford a house in those tech hub cities, but that's another conversation.

>>16749746

>>16748712
>45 years for an 8.5x
JUST

>>16748712
what did they mean by this?

>>16753698
>I'm assuming you might not be able to afford a house in those tech hub cities
True.
Also not really interested in buying over there. Just want to go make some money and use it for investing purposes or paying off my stuff in Utah. There I'll be renting for sure, but I don't know what to do with money I make besides research, watch markets, buy something in my own state and I guess pay it off asap with west coast tech bucks.
I just don't really know what to do with my new found money when everything around me looks like some ponzi or some shit.

>>16753746
Means the house simply doubled in real value over the last 50 years. See above. Houses are gold.
https://www.curbed.com/2019/8/29/20837282/millennials-recession-homebuying-prices
I'm about to redpill all of you idiots. As long as the world population keeps going up, house prices will too. You all are so fucking retarded.
On top of that, do you think that when 'the proverbial depression' comes that'll be your chance? What's more likely? Wages will continue to stagnate, rent will continue to increase, and the gap between rich and poor will widen.
I've got news for you,
Been happening the last 50 years, why do you think that your time on earth is special?

>>16748937
Jews, the answer is always jews, I wish I was joking.

>>16753773
Short answer? Invest most of it in Vanguard etc, safe retirement. If you're not maxing out your employer 401K contribution rate and your IRA while you're young, you might have an extra chromosome.
https://www.youtube.com/watch?v=xjc4Amla1-c

>>16748739
I’m not far. I’ll sit outside at midnight in the party van just to make you sweat every day.

>>16749886
You don't know shit you nigger.

>>16752738
t. retard that doesnt understand how dividend portfolios work

you understand that the stock itself increases in value to keep up with inflation and the growth of the company? apple doesnt just stay 200 bucks forever

>>16751049
Go back to china.

>>16753786
>As long as the world population keeps going up
It won't. Increased education -> lower birth rates.

>>16753846
I wonder what being friends with you is like. It's slowing down, sure, but it's not fucking stopping essentially anywhere, save Korea and China.
https://en.wikipedia.org/wiki/Projections_of_population_growth#/media/File:World_population_(UN).svg

>>16752774
Buy LINK.

>>16752774
basically just hail mary with crypto and hope you'll end up with enough money in the end to buy anything

>>16753786
200 million Americans will die in the next 20 years.

>>16753802
My apprehension though is if I'll even be alive when I'm old enough to retire. Because of that, and the ridiculous degeneration of the country, I stayed away from retirement accounts. I guess I still have more researching and thinking to do.
Thank you for the responses.
I love you.

>>16753932
I mean you don't have to max them out, but it's pretty nice to wake up once a month and see how your money's been working for you while you've been asleep. Godspeed anon.

>>16748739
Imagine living in a trailer

>>16749376
Arab AF tbqh

>>16753909
See this post above
>>16753581
Literally as long as you either break even or sell for less than what you would've spent on rent, you're theoretically 'on top'
Plus, owning a home is kind of cool in the sense that you can play music as loud as you want (essentially), have an incredibly astounding animalistic sense of 'this is my den'
The last of the above is the most surreal. You don't feel that way until you are in it, and it adds to your aura when you're out and about. For example,
>Yes Mr Platinumstein, I'd love to have you over for dinner at our home so we can discuss in a more private setting how I can move up in the company (this allows you to show your CEO how you perform on a personal level. Age old tactic).
>Hey all, I wanted to throw a little get together at my house to show my appreciation for all the hard work you've been doing over this year. We'll serve the usual burgers dogs and beers, and we'll have some great vegetarian options for anyone as well.
You cannot comprehend how much this kind of shit elevates you and creates a literal tribal safety net for when you need it. I also rent out my house to friends that are trying to find a place to live in the area, or even help out new hires that need a place to crash for a few weeks while they find a place to rent.
Home ownership is unironically the ultimate redpill. Protip though, try and find a place where it's unlikely there'd be imminent domain takeovers and you're on top of a mountain or some shit, you'll have access to clean water, likely ability to grow SOMETHING, and in the event of any real crisis you can watch it burn from afar.

>>16754084
What?

>>16748739
Trailer trash hahaha

>>16748739
So... this is the power of a poor midwest cuck...

>>16748739
Trailer trash

>>16754219
>>16754261
>>16754301
Post pics of the house you own.

>>16748739
>Blarney Stone Ct.
muh irish heritage

>>16748739
>2020
>paying 170k for a mobile home

>>16748739
>169k
>for a trailer
>ohio

>>16748739
Imagine being proud of something like this trailer enough to post on an anonymous website

>>16754430
What's this stupid picture? You trying to learn how to engineer a potty?

>>16754446
Cope. I’ll be making 150k starting after I finish my EE degree and get a job at FANG.

>>16748739

Looks nice fren. Congrats!

>>16752628

Are you retarded?

You think a house made in 1975 is not going to have any renovations or repairs in the past ~45 years? You think owning a home costs nothing?

Honestly that's a shit return over 45 years because they paid property taxes for decades, costs to maintain the home, repairs, etc..

>>16754505
And you will still be a broke motherfucka.

>>16748751
>water heater breaks
>old wood cracks
>holes in the roof
>Foundation problems
>live in this
>have to fix all this
Buying a house is a fucking meme unless you're a landlord.

>>16749769
This guy is hilarious. Thanks anon.

>>16748739
Poor house for poor pleb.

In a 100 years, average person wouldn't be able to afford a house. There just isn't enough space on this planet for a house for everybody. The rich will own all land and we'll live on rent.
We'll also won't have any car ownership. The rich will have AI self driving cars and we'll have to use them as taxis ordering Uber.

I unironically can't wait. I don't want any home or car. Zero debt on these.

>>16748739
Literally. A trailer

>>16754349
170k is a good deal on a mobile home in current year

>>16748712
>pay almost half a million dollars for the house
>still have to pay the government 17 grand a year to live in it
OH SAY CAN YOU SEEEEE.

>>16755379
You think renters don’t pay property taxes?

>>16748754
>>16749259
>>16754615

>t.basement dwelling idiots

Rents have been going up drastically. The only difference with renting is you are paying your landlord's mortgage and property taxes. If you think you are somehow sticking it to the man and beating the system by renting you are a gullible moron who should be sterilized

>>16748712
holy shit OP we're literally neighbors that is fucking weird

>>16748984
He's either completely fearless or completely retarded.
Impressive either way.

>>16748739
Trailer trash

>>16749946
Fuck I wish. Chicago condos pay like $15k per year in tax minimum. California is obscene. Florida has pretty high prop tax on bigger houses due to no state income tax.

Check out tax bills in London, Tokyo, Berlin, etc. Once you filter out the VAT jew disguise.

>>16755379
What Eastern Bloc shithole do you live in? What do you think your tax bill would be for a 1m € mansion in Sweden??

>>16748739
the 0.28 acre lot is nice
house is uglky but much better than rentcucking it

>>16748739
Poorfag bragging

>>16748739
Nice trailer anon

>>16748739
LMAO HOW POOR ARE YOU?

>>16748739
looks good frend