/biz/ - Business & Finance

>>17521425
Please I need a fucking house

>>17521425
get rekt, housefags.
renting chad here

>only kills boomers
>also ruins boomer economy
thank you based chinks holy shit please eat more bats

>>17521425
I wish this fucking thing had a 30% mortality rate across the board, so tired of nothing ever happening.

>>17521476
This piece of shit is simply not worth $950k.

>>17521454
>renting chad here
fellow rent chad here
feels unbelievably comfy
cant wait until my overleveraged landlord will have to suck dicks for money when his RE portfolio shits the bed

>be me
>22 beta fag
>always work never spend
>housing market is a joke but i try to buy anyway
>buy my dream house by overspending 25% of sale price
>1 week after i move in the corona virus spreads to my city
>all the boomers are going to die
>all the houses are going to be affordable
>mfw I just spent 250k on a house that is going to be worth 150k in a year

>>17521425
If you bought a house in 1980, that house should only be worth 3x the original purchase price if you account for inflation. For example, a 70k house in 1980 should only cost like 225k now but i know a Boomer couple that paid that amount for their house back then and now the fucking thing is worth $1 million. It just isn't sustainable.

>>17521585
It's not the house you're paying for, it's living around whites and Asians instead of blacks and salvadorians

>>17521425
The banks will buy up all the houses pennies on the dollar and rent them out to goyim at exorbitant rates.

>>17521425
everyone here excited about the housing market plummeting while Im here excited that the boomers that hold all the good paying jobs will have a sudden termination.

>>17521476
>bats
>not bioweapon
pozzed and basedpilled

DAY OF THE PILLOW

>>17521454
>>17521608
>renting chad
The definition of an oxymoron

>>17521778
s o y pilled i forgot about that thin

>>17521645
That’s what you get with unsustainable population growth and everyone wanting to cluster around cities that are, if we’re totally honest with ourselves, generally pretty shitty

I told my stupid boomer parents not to buy a $800k house at 60 years old. Downsize, i said, wait untitled the market crashes and buy cheap. But noo, im just a stupid neet Bobo who doesn't know what he's talking about.

>>17521454
Renting Chad... Uwotm8

>>17521425
>>17521441
Soon

>>17521818
Well you are

>>17521619
>Buying the top of the bubble like an absolute moron

>>17521867
>>17521619
In the long run, which is the only reason anybody should ever enter the home ownership market, it literally doesn’t matter.

>>17521425
>rent and house prices skyrocketing yearly
I wish a nigger would. Get fucked.

>>17521818
Boomers unironically think that they're all going to live to be like 110 after decades of not exercising and alcohol and prescription drugs. Kek. Maybe they'll live that long hooked up to machines in some state run nursing home. Fucking idiots.

>>17521585
thats arlington m8. literally living next to the movers and shakers of the world

>>17521940
>not NYC or LA
>movers and shakers
Anon, I...

>>17521425
Day of the pillow soon brothers. We're all going to have affordable housing one day.

>>17521654
that's just what they're doing now

>>17521924
Nobody thinks this. Granted I don’t know many “boomers” apart from my parents and friends’ parents but they all seem to be very sensible about their own mortality. Only people I know that think like this are my retarded friends who think that they’ll be able to live insanely long lives just as long as they make it despite most of them eating like shit and not being physically active. Also even people who’ve lived healthy lives that make it beyond 75 have increasingly shitty health. Humans just aren’t meant to live that long period, why anyone would want to is beyond me. 75 is enough, if you haven’t done all you need to do and most of what you want to do by then you’ve either failed or are a greedy cuck who will die unfulfilled no matter how long you live

>>17521924
Also
>unironically using a fucking Twitter/Instagram meme
You have to go back

>>17521645
>isn't sustainable
>>17521811
>unsustainable
What? Are you a bunch of socialist hippy commies?

>>17521425
Now they have something to blame this on.
There was an overdue crash anyway, at least now they have an excuse.

>>17522097
Lmao I know this is a joke but there are seriously people who completely deny the concept of unsustainability
Imagine that lmao

>>17521619
Just when you think it’s not possible for this board to become even more braindead. Holy fucking shit what were you thinking buying at the top when there are undeniable signs it’s about to fall apart? Not even talking about coronavirus. That’s just the icing on the cake.

>>17522729
Same pepe. You lil faggot just don't like us do you? Go /pol/ and tell em how the moon landing was fake or how the world is flat... you desperate retard. I will not consider u an asset.

>>17521619
Just buy more house once the market crashes

>>17521425
>>17521476

>Own home in vancouver
>Paid way too much
>Bubble about to burst
>Normies excited
>Not realizing that housing crash is housing sale
>They still wont be able to buy

Im going to buy three more condos if shit hits the fan

>>17521867
>>17521892
>>17522729

Dont feel bad for this guy anon. My cousin just spent $700,000 on a townhome 40 minutes out of vancouver canada

That nigger is going to kill himself

>>17521994
Arlington is literally right next to Washington D.C.

>>17521425
Actually planning on buying a house, I live in flyover country and make roughly 35K a year. how long should I wait to buy and how much should I spend

>>17522015
This is just the first shot of the war.
They will fight tooth and nail to get their sham bubble propped up long enough to retire. They will fuck us. Stay strong.. Let your hate and spite fuel you. Do not buy their garbage! Do not be left holding the bag!

>>17522833
There is no promise this will crash as hard as 2008. You'll have ample warning for housing. But remember that everyone now knows what to do in a recession: buy a house. I don't think it will be the same level of opportunity as 08 was.
When the 2008 crash finished it took an entire year to reach the bottom and by then everyone was afraid of losing their jobs, or already fired. The situation was bleak. That's probably the moment to wait for, when everyone seems completely defeated and scared.

>>17522762
WTF IS THIS DUDE TALKING ABOUT HAHAHAHAHAHAHAHAHA

>>17522833
there is pretty much no reason to wait around to buy a house in the midwest, there is plenty of fairly valued stuff out there. Only coastal cities are in bubbles imo

>>17521454
renting my own residence while owning rental properties with safe cash flow margins

>>17522890
Thanks for the advice, even when prices for livable homes are around 75K I am still terrified of taking out that much money. I have never had that much debt before, but on the other hand I am at a point where I NEED my own place. Most of the rentals in the area are overpriced and shitty.

>>17522951
lol principal + interest + taxes + insurance on a 75k house will be like $500/month, there is nothing to worry about bro

>>17521608
>raises your rent

>>17522962
thank you, my parents made a lot of poor financial decisions through their life and I just don't want to repeat their mistakes

>>17521425
it's kind if ironic. all of the markets are crashing...LETS BLAME NEW VIRUS WHICH IS ONLY KILLING BOOMERS.

completely ignore all these markets are in giant bubbles...

lol

>>17523015
>becomes homeless and sleeps in front of your building to devalue the property until rent goes back down

>>17522064
>knowing about whatever you're talking about
You have to go back

>>17521619
Does suck, then again, if you didn't buy it and if clownvirus didn't happen then, we probably would be peak clown economy and that house would be worth 300k. Who cares, you buy a first house to live in and it'll probably most likely appreciate in value if its in a city or in a nice neighborhood. Even if housing values crashed and you're in a good area, all of shlomo's real estate developers will buy it up and the values will recover.

>>17521994
LA ... movers and shakers??? you don't know much do you....

>>17522951
>>17522962
Yeah, your principle and real estate taxes are probably fucking nothing, that's a great thing about flyover country. The houses don't have retarded valuations and don't have communist property tax rates.

>>17523036
If anything the virus was the pin. Bubble had been growing for some time.

>tfw chinks were to blame for the high cost of rent this whole time
WWIII when?

You will always need a place to live, so if you don't own your own house, you are essentially shorting a house, which is like longing fiat. Its retarded. Buy house with a mortgage to close your house short position, and short fiat instead. A mortgage is a 30 year short against fiat, its literally free money. As long as you are not a weak willed retard and have some cash on the side to weather a recession or two and get foreclosed. Just hold in a recession and the government is guaranteed to print money indefinitely forever, so you'll come out on top. Renting is just for retards, or weak willed paycheck to paycheck cucks.

>>17522799
>>17522782
too many vancouverfags in this thread. I'm renting a studio for 1800 in yaletown. If Link hits $50 I'll buy something. Also I unironically think corona is gonna cuck this city

Home prices aren’t going to dip inventory is too low and look at all the poor fags in this thread desperately trying to get into the market. Demand is too strong . Population will continue to skyrocket and cities will continue to grow this trajectory is not changing

>>17523030
the boomer rule of thumb used to be buy a house that is 3x your annual salary, and you are well well within that. You just feel poor from talking to coastal fags online too much

>>17522893

Somehow your hahahaha seems forced and weak. You PLEB!

>>17522782
>>17522799
>>17523368
Vancouver physically cannot expand west, has tonnes of mountains and is one of the most desirable cities in the world. It will hardly be effected. remember what 2008 did to Vancouver housing? exactly. it can dip. It can go up, but nobody buying today is losing value in 10 years.
>>17523361
great job retard. Consider the following: Mortgages have interest.
I like owning. But opportunity cost exists. Your house has to appreciate past other investments. Owners have to pay maintenance, interest, sttata, propery tax etc. renters can invest downpayment etc. you have to do math yo find out it is better, and it is not always the case. that being said owning is nice psychologically

>>17521476
Everything is turning out fine, comrades! Boomer economy was just the floor.

>>17523502
so many people don't understand this. Your own house is not an investment, and there is nothing wrong with renting as long as you are saving enough and investing smart elsewhere. Would you rather make a down payment or buy 15k chainlink?

>>17523502
>Mortgages have interest.

So does a renter's landlord's mortgage. And that cost is passed on to the renter.

>Owners have to pay maintenance, interest, sttata, propery tax etc

So do renters, they have to pay for their landlords to do all of that, plus a nice profit margin for the landlord on top, plus the property manager's profit margin, plus taxes for non-owner occupied houses are usually higher.

>renters can invest downpayment etc.

But they don't get free 5-10x leverage with no margin required if they pay the interest. You only need to make 1/5th of the return in appreciation on the house than you would have investing the down payment into something else.

>being said owning is nice psychologically

That too.

>>17523597

Your house is a requirement to live. You will either have to pay someone else all the costs related to living plus profit, or take a free loan from a money losing, government owned corporation, at artificially low interest rates to pay less money to own your own home, and cut out the landlord middle man. Its just free government money on top of a better deal.

Renting is retarded. The only way it comes out on top is if you have to move a lot, even then in a lot of places you have to pay broker fees when you lease a new apartment, and you're at the mercy of the landlord not to increase you rent because they know if you move you have to pay another broker fee.

>>17523415
home prices already dipped

I was actually getting ready to buy before the coronavirus scare. Got loan pre-approval and all. 150k down. Not sure if I should wait and see. I believe the long term trend will always be up. But if there's a dip I'd also like to catch it on the bottom and not have to suffer through it while kicking myself.

>>17521441
This, I have 10k ready for my first FHA.

Part of me is considering selling my holdings for less than I think I should, in order to buy house for cash and immediately rent it out. Just $15k or so in passive income every year would be a huge upgrade for me.

>>17523955
True depends on where you are.

As anon there anon said you always need somewhere to leave and ide rather manage my own property than pay some half nit to capitalized on my equity

>>17523361
owning a house means you're shorting the opportunity cost of what you pay for the house. if you know what you're doing, you will generate at least the amount you pay for the rent plus more. faggot.

>people might be able to afford housing
>and here's why that's a bad thing

>>17523751
everything in real estate is very market dependent. Making hard rules like this just makes you sound like a brainlet. Apartment buildings for example have economies of scale that can make renting there legitimately cheaper than buying a house/townhome in the same area. Buying a condo can sometimes be optimal but in my experience the fees + property taxes on those make the montly payment barely cheaper than renting. And with condos you don't even own a plot of land, so you don't get a reliable appreciation driver.

The most financially optimal plan is usually to buy a house and rent out rooms. I agree with you on this, but I'm past the point where I want to live with roommates. I also agree mortgages are great tools to use but you don't have to use them on your own residence. Cheaper homes in neighborhoods where you yourself wouldn't necessarily want to live can be better investments than inflated homes in upper class neighborhoods.

>>17524183

Do the math. Lets say you put $50k down on a $500k house. House appreciates just 3% to $515k. So you just made $15k off your $50k, that's a 30% return. The stock market averages 10-12%. So you tripped your return on even a below average appreciation. Mortgage rate doesn't matter, because you are paying your landlord's mortgage when you rent anyway, its priced into rent.

>>17524261

You keep talking about taxes and fees, those don't go away for landlords. You pay all of that, including higher tax rates, and more when you rent.

Agreed tho that if you are just flat out poor and considering apartment complexes it really doesn't matter, just try to save up for a down payment and try to up your income.

>>17524345
I get it dude, I'm a landlord myself. I have 8 cheap homes right now that I rent out for significantly more than monthly expenses. I just rent my own 1-br apartment myself right now since it offers me a better quality of life at the moment.

>>17524183
you don't get paid pay for living in your own house, just like you don't get paid by driving your own car. on the other hand, you can start your own business and/or make smart investments and generate more than your total rental payments in a year and more. even if the stock market nets you 10%, you can cash out the gains if you wish. appreciation of your house means nothing unless you sell it, and you can't just sell some of your house.

>>17524345
I agree with you in terms of house appreciation, but the issue is that price to rent ratios are absurd in most areas and literally can't go up anymore - no one is going to buy your bag for higher if they can't afford the monthly on it in addition to their boat and kids private school

>>17524569
price to income*

>>17524569
Then buy in a place with lower rent and more room to grow . i.e. anywhere but LA or SF

>>17521940
More like next to future Amazon HQ2

>>17524345
you don't get paid for living in your own house, just like you don't get paid for driving your own car. on the other hand, you can start your own business and/or make the right investments and generate enough to pay for your rent and save enough money to buy a house and more. even if the stock market nets you 10%, you can cash out those gains. appreciation of your house is nothing but paper gain, it means nothing unless you sell it, and you can't just sell some of your house you have to sell the whole thing. also you might be surprised to find out that your house didn't appreciate as much as you thought it did when you're selling and nobody's buying.

>>17524714

But you kinda do get paid to live in your own. The government runs this money loosing corporation that gives out money loosing loans at artificially low manipulated rates. There are tax breaks too. The government literally pays you to own your own house.

>>17521425
she cute

>>17524629
they have a lower price because they aren't growing anytime soon, it's been priced in

best to wait for a systematic crash where the wealth transfer opportunity exists in the emotions

>>17521476
>tfw i live maybe 5 minutes from this place
i will never own a home at this rate

>>17521585
It wasn't before Amazon HQ2 moved in. Real estate prices here have doubled in the last year.

>>17521425
Either way my tenants are paying my way out of this.

>>17521454
Never understood the hate towards rent.
>buy a home it "keeps" it value
>housing prices crash but you need to move now
>sell well below what you paid

At least with rent you avoid buying when it's overpriced and have the luxury of moving with ease rather than waiting for someone to buy your house.

>>17524222
Checked

You can hedge with $nCoV

>>17521892
bagholder bingo housing edition

>>17525177

Buying gives you access to nicer neighborhoods because it filters out people who are incapable of saving up for a down payment.

>>17521656
Too bad you aren't qualified for any of those jobs.

>>17521425
Even with a housing crash the only way I'd be able to afford a house is if crypto moons at the same time, it's not looking like it will.

>>17521778
B.A.T.
Bioengineered Asian Terror

>>17521425
don't you have parents or grandparents you love and don't want them to potentially die?

>>17526337
>rents in your neighborhood
Wow that was hard

>>17525781

Based and reality pilled

>>17522937
>not baiting coastal normies into renting your high income housing and dabbing on them by walking around in your robe eating neet snacks obnoxiously and forcing confrontations

you don't even know how to make it

>>17522762
jeet detected

>>17521425
>virus is 30% fatal for 50 and over
>also crashes the housing market
BASED BOOMERCIDAL VIRUS

Why in the fuck are US housing prices dependent on china? We can’t buy chinese property why can they buy US property? I hate boomers so fucking much. Hopefully this completely guts the property market - boo fucking you scumbags depending on international money to keep your bank accounts fat at the expense of your countrymen. Good. Hopefully it kills off our boomers too.

>>17526955
lmao

What reason does the article give for why the Chinese would want to withdraw from foreign housing? It's not exactly a liquid asset, and there's nothing to imply that home loans will become more expensive (if anything they'll get cheaper as interest rates get cut).

>>17522097
based gretaposting
>HOW DARE YOU

https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp

I understand how gleeful you guys may be to have the boomers off, and honestly, I want their dead ideas of hell gone with then too, but the thing seems to be that not enough have retirement savings, and so as a consequence, social security is what they draw from. The question now stands, is there enough to go around, and if not, what will the government (with boomers in it and many conflicting interests) do to solve the issue. More taxes, less SS for future individuals, inflation? I mean really this doesn't look good except until the selfish boomers die off completely.

>>17526955
lol

>>17527509
Social security as we all know it is dead. People say it will run out of funds by 2035. Just forget about it. You can see it in all these old blue chip companies from the 20th century. They zombie corporations are drowning in pension debt, allowing boomers to go on vacations and live in big houses they don't need anymore. They absolutely are entitled, and their entitlement and excessive compensation has caused the next generations to experience a ruthless job market and inflated asset market.

>>17525177
>At least with rent you avoid buying when it's overpriced
You've spent 2x what the schlomo landlord paid for with the building over time. You won't get that money with the exception of your deposit AND that's if everything still looks in working condition

>move out whenever

You have a lease, a contract that makes you responsible for making those payments until the lease ends. You wanna fight that? Landlord rights mean more than tenant rights in court.

Why are a lot of you such coping retards?

>>17527618
This. I am a renter and here is what you pay for to rent
-Profit for landlord
-Management/maintenence fees
-Taxes
-Utilities/internet etc
-place to live that your money goes 0% back to you (full loss on property/land return)
Not to mention extras like required renters insurance etc.
What do you get out of the deal?
-no real returns unless used as a tax write off
-flexibility
-lower direct exposure to taxes etc. But you're paying to hedge the landlord's property to some extent

Vs house what you pay
-interest on principal
-principle itself
-maintenence/upkeep
-utilities/internet etc
-taxes
What you get
-title to house and property when loan is paid off
-bulk of payment is flowed into something you own, not something someone else owns
-you can let your property get somewhat crappy, do your own work and keep overhead down even more
-more options from foreclosures etc
-can use it as a future income generating instrument
-and more

Renting really is a luxury. Just like health insurance, or any insurance really is. You're paying premiums on just about everything and honestly most of these boomer land lords that I've met were pretty incompetent and self absorbed. Last guy I remember wanted me to share a house with legit like 1940s fridge, didn't know who else was gonna be there, and his daughter I'm guessing showed me the house and rolled up in a basically new white bloated suv. This guy rolls up in a new vette and had the smuggest attitude about him. Didn't like the guy after I realized he was just trying to boost his income and wanted to just throw some people together that really didn't even know each other. That's just asking for trouble.

>>17526337
>>17526955

>>17521585
you're right, it's the land

>>17521476
that house actually looks comfy inside though and probably fully renovated and close to high paying DC defense contractor jobs so maybe it is worth 950k

Based, truly based

>>17521837
agree with everything but the crypto part. cryptocurrency is a scam.

>>17521425
>>17521441
You need to see the connections between houseing and construction. If/when construction takes a hit in this country it is going to be bad. A bunch of men are going to lose there jobs and families will be stressed, maybe divorces will pick up.

And when it comes time to bail out the economy and they look at construction feminist will write another "burly man" letter to make sure women get jobs, not men, all while saying feminism isn't a zero sum game.
>https://www.washingtonexaminer.com/weekly-standard/no-country-for-burly-men

>>17521425

If this virus tanks housing markets, the investment firms will drop along with them and boomers will go scorched earth with either negative interest rates or helicopter money. House prices will be the least of your worries.

Daily reminder that rich people need the fucking guillotine

>>17528142
These are the thoughts and ideas of people that have influence on this country. Compare that to a more ideal reality where men and competent individuals who value justice and other virtues do the same. This is a loss for all people, not just men. Women's lives becoming harder for it too. The women here are still playing dress up and it's absolutely ridiculous. It's imperative we flush women out of influence and politics other than mother hood and smaller tasks for smaller minds, unless they are an outlier.

>>17527509
We are in the death throes of this society who cares. The farce won't continue much longer.

>>17528910
It's been going on in England for at least 300 years...

>>17521792
No, the definition of an oxymoron is "a figure of speech in which apparently contradictory terms appear in conjunction". What you meant to say, Rhakesh, is that a "renting chad" is an "example of an oxymoron". Less time street shitting and more time on DuoLingo you worthless third-world fuck.

>>17521425
why is it allowed for foreign nationals to buy homes in other countries. what is even the point of being a citizen at this point

>>17521994
>LA

do you know how i know you're a brainlet?

>>17528974
I was wondering this too. I think it's just in line with greed/short term profit, not looking at future issues. Too many Chinese could infiltrate but that's why FBI and all of them exist. The gov hedged inside "enemies" so they would probably just deport if it got too bad. That or keep them in economic slavery.

>>17526337
This is a dumb comment.

>>17528142
>You need to see the connections between houseing and construction. If/when construction takes a hit in this country it is going to be bad.

If construction takes a hit won't housing prices just go up more? We already have high demand and low supply in most places, boomers get on zoning boards and stonewall any initiative to increase residential densities. Construction halting entirely would kill all new supply, it'd be a boomer's wet dream.

>>17521425
I want to marry the cute Asian chick in the picture.

>>17521454
very based

Hypothetically, if I had $750k cash but only moderate job security and was looking to buy sometime this year: Do 20% down @ 3.75 APR and risk investing the rest or just play safe and pay it off?

>>17521425
So youre saying the chinese are propping up the market

>>17526955
Lol this.

The connection created allows for efficient communication within FinNexus and external system

>>17528974
This. No citizenship but can literally stay in the country 24/7. Greed is the lilely reason, plain and simple. I think most other countries don't allow you to buy unless you're a citizen/permanent resident.

>>17521425
>Chinks are gonna sell their houses in America and go back to China because of chinkflu
The mental state of /biz/

>>17528142
Women Rights was a mistake. These fat cunts are selfish cunts

>>17521645
If you invested 70k in the market in 1980 it would be worth $869,125.22 today

And unlike real estate you didn't need to spend a single dollar in repairs, didn't need to pay property taxes, didn't need to pay realtors etc

I live in Colorado. How much could a crash realistically drop prices? What kinda % are we talking in a trendy place like Colorado or Washington?

Except it also causes mass unemployment brainlet.