/biz/ - Business & Finance

>>18821449
Note: $76,000 in 1983 is equivalent to $196,000 in today. https://data.bls.gov/cgi-bin/cpicalc.pl

>>18821780
Ironically that neighborhood probably has higher crime and worse schools today

>>18821449
Right now they can barely get jobs , much less a house.

Next up, civil unrest if they keep kicking people out of where they are currently living.

families had much lower income to spend those days, cause most women didnt work.

The prices are higher because people are willing to pay much higher
>b-but they bitch about it!
and then they pay. in the 70s they flat out couldnt pay.

>Less buying power for the same work compared to the boomer generation's heyday
>More debt compared to the boomer generation's heyday

That's about all there is to it

>>18821449
I bought a house in Northern California recently. Slice of heaven right here I gotta say.

>>18821990
omg sunset! If I lived in outer space, I'd be impressed

>>18822053
desu the nature here beats pretty much every other State. The only thing you gotta contend with are libs but Northern CA is fine. Lots of crazies though.

>>18821990
>Northern California
Fugg that's where I want to go. See any bigfoots there? How are the gun freedoms there?

>>18822111
>gun freedom
Generally bad but its not like people abide by the laws here. Hence the 'lots of crazies' part.

>>18821449
I bought a house in the Gatlinburg area in Tennessee for a good price. 2 bedroom, 2 bath, 1300 sqft, built in 1976, and was in pretty decent shape when I bought it, just needed a fresh coat of paint and a new carpet. Paid $137k for it in 2018

>>18821990
California has alot shitty laws and taxes. What if I moved to southern Oregon instead?

>>18822646

Why not go for the Idaho meme and avoid insane liberal politics

>>18822667
I just want to be around nature with decent weather. Not potato fields, potato people, and freezing potato rain.

>>18821449
Who cares about millennials anyway? The lost generation. No brains, no muscles, no nothin. Keep playing Playstastion and later blame boomers.

>>18821449
The boomer, the

>>18822698

>he doesn't know that Idaho is actually full of beautiful landscapes and is currently sucking in West Coasters by the droves

suit yourself

>>18822123
As long as I can keep my collection and go plinking in the backyard.
>>18822698
>I just want to be around nature with decent weather
Same anon. But within 2 hours of a major city if I need special services and work opportunities.

>>18821449
here waiting for coronachan to take care of the boomers. unironically.

>>18822711
Millennials on average are all brains. Too many are on pills though. It’s a blessing and a curse. Being highly intelligent living in clown world is very difficult, which is why Millenials are the way they are.

>>18822711
>and later blame boomers.

I know a few boomers at work who they themselves admit that their generation were pretty much given a free ride and fucked all the generations to follow them

Also, minimum wage is a nice number to look at. Back in 1975, a time where most boomers were already in the workforce or about to enter, minimum wage was $2.10 an hour. In today's dollars that's $10.08 an hour. This is the absolute lowest you could possibly pay someone even in the shittiest places in the US. Today's minimum wage is $7.25 an hour, which is 28% lower than the boomers made at minimum while adjusting for inflation. This is to say nothing of the decreased economic upwards mobility today compared to then, or the increased cost of housing adjusted for inflation, or the increased cost of schooling adjusted for inflation

>>18822111
Northern California is a lot more conservative so while we have the shitty gun laws, no one follows them and law enforcement refuses to enforce them for the most part.

>>18821449
>In the city
>No real garage
>Small
Might as well just throw your money down the drain and get a condo instead. It'd be cheaper and you could live closer downtown instead of in that shithole

>>18821901
>Next up, civil unrest if they keep kicking people out of where they are currently living.
keep trying. Poor leftest are good little government sheep

>>18821449
6.3% per year. A nothing burger.

>>18822976
>Poor leftest are good little government sheep

And the poor righties are fooled into believing other races are responsible for their sorry state, leading the economically powerful to stay that way

>>18821449
>What is compound inflation

>>18821780
that's a post inflation CAGR of 3.6%, far and away an excellent return on a house, but not something that outperformed other asset classes

how come retard pajeets on /biz/ think houses shouldn't have a rate of appreciation beyond the rate of inflation?

for only $250k this 736sq/ft shack could be yours!

https://www.zillow.com/homedetails/745-Marshall-St-Missoula-MT-59801/50943065_zpid/

Biz, have you ever considered shutting the fuck up about it and just buying a house? It really isn't that hard.

>>18823019

No, I'm pretty sure we are attacking the source with demands that restrictions on immigration and trade resume to the point where the common American working man is restored his original economic negotiating power and standing. I get that this concept is too high level for you to grasp but trust me conservatives are working hard to give you a better life even if you don't want it.

>>18821449
never buy for more than the tax assesment price of the property. thats how you know if you are getting a good deal.

>>18821449
If you majored in math like me you could easily pay off that house in 2 or 3 years

>>18823314
>conservatives are working hard to give you a better life
lmao

>>18821449
Nothing like paying that sum for some cardboard crack den

>>18823376

They are. You might not understand it but they are, and the elites at the top hate them for it.

https://www.westernjournal.com/bottom-half-households-nearly-50-richer-trump/

>>18821449
Holy fuck, imagine paying three quarters of a million dollars for a house in niggertown USA you then have to rent from the government for $1000 a month. Absolutely peak cuckery.

>>18823397
>He thinks economic policy has such immediate effects that people get '50% richer' in three years

Once again, lmao

Then I scrolled down and looked at all the suggested articles for that news site and laughed again

>>18823397
You're funny Anon. I am the elite. Or part of it. Who the fuck do you think I hate or actively try from making it? You are seriously insane.

>>18823462

It can, if you do things like addressing immigration, trade, and cut taxes as well. Let me guess, you actually believe the Mexican-owned New York Times when they say that losing all of your work to overseas companies and getting your ass taxed to hell and back is beneficial for you?

>>18823488

>uhhh no those economic gains aren't real!! You're a liar!! Insane even! SHUT IT DOWN
>Quick dial up Josiah Goldberg at the Washington Post for a counter-article

>>18821449
milenials are poor because they're stupid and lazy. prove me wrong.

>>18823517
I must be da jooz!

>>18823536
>prove me wrong.

But that's not how burden of proof works anon

>>18823582
burden met

>>18823547

American Jews literally run the Democratic Party. Much like Tammany Hall before them. Go ahead and scroll through the primary contributors of WaPo and NYT.

>>18823719
Stupid, lazy and entitled is how Millennials roll

>>18823719
>A marketing picture is proof
Wew

I'm a millennial and I would rather rent. Why be stuck to one location for 15+years

There are houses available in every state for a $100 or $200 mortgage, less than the the average millennial spends on weed, anime or avocado toast or other "necessities"

>>18823748
Hey, I don't doubt it! The US is second home to da jooz! But to call everyone here or on /pol/ that doesn't instantly echo your opinion a joo? Think about it.

Note: It is in the governments best interest to artificially inflate housing prices, as that increases the yearly property tax revenue they receive.

>>18823935
Yes, but then you have to look at blacks

>>18823935
That's just for land in a high black area, dumbass.

>>18823941
Wow the government makes citizens richer and millennials still aren't happy

>>18822976
Stating the inevitable.

Left or right, won't matter... you're all sheep to them.

>>18824101
Millennials not only demand free homes but they demand gated communities just like the boomers got for free

>>18823936

You're getting pretty sensitive about some banter after coming out and straight up calling me insane for posting positive economic data, friendo. Could it be the case that you can deal it but not take it?

>>18821913
>The prices are higher because people are willing to pay much higher
wow. are these the people who have come to /biz/ now?
they're just paying more because they're ok with it? incredible analysis, drooling fucking retard.
stop posting

>>18823941

I've been trying to figure the angle as to why big city government leadership is so ardent in their strict zoning regs and support for insane property prices, this is it. They're a fucking racket and no one can see it lmao

>>18821449
I’m a millennial. Bought a 5 bedroom 3 bath in California (north) for 170k , Fixxer. Now it’s worth nearly a half million.
We good OP.

>>18821449
because i can't afford it. i live in bucks county, pa and work in mercer county, nj. a small house in a non-nigger neighborhood is $200-275k. let's say $250k with a 10% down payment.

up front cash is $25k down payment plus another $3k in closing costs. hard but not impossible.

a 30 year mortgage at 3.5% is $1010/mo + $150/mo MIP/PMI mortgage insurance + $75/mo home insurance. we're at $1235/mo, doesn't sound too bad so far.

except for the property taxes. NJ is far too expensive with property taxes, so let's restrict it to bucks county, pa. a $275k house will have property taxes $5000-6000/yr, or another $400-500/mo. that brings it up to $1600-1700/mo. then add in utilities and you're at $1850-1950/mo.

>>18824252
BECAUSE I HAVE HAD IT WITH DA JOOZ!!! I WANT TO TALK BUSINESS

>>18823348
And what are you doing with that numerical science that is getting you bank?

This house is only $36 a month to buy I'm sure the Millennials will complain that it doesn't come with a Mexican maid and gardener

>>18824450
mathematics

>>18824463
But if you get a house outside the city that far away how do you get to your job?

>>18824307
I’ll add my mortgage is $1000 a month. Cheaper than my friends rent. I feel bad for nohomers.

>>18824351

>talk about being part of a secrit elite
>suddenly flustered when I mention Jews

wonder what u are. They aren't the only elite here but they are the "liberal elite."

>>18824463
have you ever been to central PA you mentally retarded nigger? i have, i lived there for a while. there are no good jobs unless you want to spend 40-50 years of your life making between $12 and $14 an hour in a dead end warehouse job.

i'm the last person to suck kike cock and praise overpriced cities but there's a reason why that house is $9900, and it's because that town (and really the entirety of central PA) is gigantic festering shithole with absolutely ZERO opportunity.

>>18822698
Yeah Idaho sucks stay away do not come here

>>18821813
North Chicago has very few black people

>>18824347
What would a house in a nigger neighborhood go for? If it's a good price, would you buy it despite it being in a nigger neighborhood?

>>18824644
I am not SUDDENLY flustered when mentioning the jews you goddamn retard. I am flustered, because I want to talk about /biz/ without the jews even having a mention in it. What the fuck is this shit? The Jews? You think they are responsible for me just having made a he profit? If so, you are wrong.

>>18823748
>The Jews are all Democrats!
ngmi

>>18824929
depends on your definition of niggerish. areas like bristol, PA croydon, PA are pretty bad but tolerable. you could find a house in the low $200k range but property taxes are still $4-5k/year. a good example is https://www.zillow.com/homedetails/517-Sycamore-Ave-Croydon-PA-19021/8963091_zpid/ and https://www.zillow.com/homedetails/147-Buckley-St-Bristol-PA-19007/8959914_zpid/ (don't believe the tax assessment on the second one, it's definitely wrong or at serious risk of a re-appraisal and subsequent skyrocketing to $4-5k/yr like comparable properties.)

if you want to get REALLY niggerish, take a trip over to trenton, nj. you can get houses for under $100k but property taxes are still high ($2-4k/year) and you will literally get shot and killed by niggers. https://www.zillow.com/homedetails/117-Bayard-St-Trenton-NJ-08611/39021388_zpid/ https://www.zillow.com/homedetails/450-S-Olden-Ave-Trenton-NJ-08629/39030017_zpid/ https://www.zillow.com/homedetails/656-Grand-St-Trenton-NJ-08610/39024734_zpid/

>>18821913
>families had much lower income to spend those days, cause most women didnt work.
They didn't have to work faggo. The dollar went further and the culture was one of self sustaining independence as a family unit. This current garbage can't and won't last.

>>18821449
boomers aren't building them
but they are passing laws to make it harder to build them
and the small number of giant companies that are willing to jump through all the hoops are keeping the number they build low, so the prices stay high

>chicago

>>18821449
lol

>>18825062
peak CONSOOMERISM isn't far off. we've already moved to subscription models for pretty much everything: software, television, movies, books. christ, even cars are more or less subscription services thanks to the fragility of modern cars and the ubiquity of the perpetual car payment. even home ownership is thought of as foolish or is actually unattainable. it'll be interesting to watch it all fall apart, if not today then in old age when social security benefits can't cover the subscription based lifestyle of the perpetual 70 year old CONSOOMER.

>>18824644
Wonder what I am? Really?After all that? I MUST BE DA JOOZ!
But seriously now... anyone could have noticed u are full of shit.

>>18821449
too busy paying for their boomer parents' retirement

>>18825162
They’re literally releasing subscription services for Nissans in metro areas. Literally gas the cities

>>18825033
You forget property taxes are paid upfront so add those to closing costs.

>>18824101
>>18823960
>not gentrifying black neighborhoods

NGMI

>>18821449

>land of the free
$11K a year in taxes just to own a house

>>18823348
>300k starting

>>18823397
>and the elites at the top hate them for it.
they are the elites, or their political soldiers, retard

>>18823504
The problem with US conservatism is that the """free market""" isn't doing a goddamn thing to help. Protectionist policies being pushed by Trump aren't free market. Anti-free trade policy pushed by Trump isn't free market. Trade warring isn't free market. US conservatism can't make the constant cry for free market align with the reality that work force immigration and production emigration along with a globalized economy are all free market.

US conservatism isn't helping anyone. Ironically, a highly regulated market in favor of protectionism - the antithesis of a free market - is what's rescuing American jobs and American workers. The only traditional conservative economic police that Trump promotes is lower taxes.

>>18821813
>>18825121
This house is in Ravenswood, in the Northside of Chicago. It's actually a rather affluent area, mostly small families, old money, and some newer hipsters who think livining away from the skyscrapers is chic. If you had to live in Chicago, a similar house in the Northside isn't a bad option.

t. Spent entire life in Chicagoland and lived in Chicago for 2 years

If you rent, you're fucking retarded, period.

>"b-but i live in the city"
congrats, you're retarded

a decent 1 bedroom 1 bath APARTMENT where your neighbors are 8 inches away from you is going to cost about $900 in 90% of America. In 5 years, you will have paid $54,000. that money is GONE.

a decent 2 bedroom 2 bath house will cost you $140,000. that is unless you live in on the west coast and in that case LMFAO @ you.

your mortgage will be ~700/month and in 5 years if you decide to sell you will have nearly $30,000 in equity.

the real fun is when you decide to buy another house and rent out your current. Refinance after 5 years, take $20,000 in equity to put down on another, save the leftover for home repairs, rinse and repeat.

after 15 years of doing this you can easily have 5 rental properties. a $1,000/month house will rent for $1,400 all day everyday because there are retards like you renters who will pay that kind of money. 5 houses X $400 thats 2 grand a month in passive income. 10 houses, thats $4,000 in passive income, minimum. with this kind of money flow you can refinance all of your homes to 15 year mortgages and have them paid off by the time you retire.

THIS is how you create generational wealth, and NOBODY fucking does it except a few people ahead of the curve

>>18821449
Every day I find myself filled with rage for one reason or another

>>18823187
>rent zestimate 1135

I want to but I can't afford one

>>18826245

Works well until there is a global pandemic and people stop paying their rent, so your stuck paying a mortgage on 5 different houses which you cant afford because you went too deep in debt

>>18826482
>if if if if

Guess you missed this part:
>Refinance after 5 years, take $20,000 in equity to put down on another, save the leftover for home repairs, rinse and repeat.
if you have 5 houses, there is no reason why you shouldn't have a minimum of $20,000 in cash for emergencies.

you also forget that people are paying your mortgage and after 5 years you could refinance literally one rental to pay the mortgage of every home you own for an entire year

>>18826245
>just do a leveraged carry trade over and over and give yourself a job as a landlord to a bunch of scumbags

>>18824759
That's a lie. Yeah it's not 100% niggerfied like the south and west sides, but aside from Lincoln Park and Wrigleyville, there's still plenty of trash crawling around. Especially in Uptown and Roger's Park.

>>18823935
that's a vacant lot you retarded nigger. read the fucking description that you cropped out like the moronic phoneposter that you are. also that vacant lot has a 5% property tax every year. now imagine how much property tax will cost when you build a $200k house. now remember that ewing, nj is literally 25% niggers.

>tfw 25, bought my first duplex last year and about to buy my next multi-plex later on this year after the small housing dump
>still making cash in my 401k and brokerage account
>thrash people in online poker for fun in my spare time

Yacht club in my 30's guaranteed

>>18827000
>renters are scumbags
>rents
lmao, pottery

>>18826941
works well until people find out where you live

I'm already seeing a flood of duplex rental properties on the market in my city. 1800+ sq ft, 2+ family homes for like $165k CAD. Landlords are overleveraged and squirming right now, I hope the bottom falls out of the housing market and I can collect for pennies on the dollar

>>18827122
based

Every state has houses you can buy for $100 or $200 but millennials expect to live in San Francisco with all the other bugchasers.

Pic related a nice brick house for $200 a month

>>18827000
rofl this

Here's a nice home in Milwaukee for $100 a month you can live next to squiggy.

Millennials be like NO ITS YELLOW wahhhhhhhhh

>>18823154
Houses should never appreciate even with inflation. Things age, break down, mold sets in. Bats. Insects. Plumbing corrosion. If you don't get a house for lese than the cost it was to build it, then you're getting ripped off.

>>18827416
you do realize places that cheap

1) probably have insane amounts of unpaid property taxes that you, the new homeowner, will be liable for.
2) it's hard to get a mortgage <$100k because houses like that are fucking pieces of shit that were lived in by deadbeats who did no maintenance and upkeep.
3) houses that cheap are always in places that are fucking terrible. whether it's niggers or the fact that it's a dead end shithole area without jobs that pay >$12/hour, there's a reason that house is so cheap.

>>18824759
Even 1 devalues the entire area.

>>18827416
You realize that’s literally in the ghetto, right?

>>18827500
Top lel, limited inventory, growing population. There is something to be said about the financialization of real estate but there are plenty of factors that would push pricing up beyond the state of the plumbing.

>>18827581
You do realize you got fired from McDonald's right?

>>18827500
You're such a fucking faggot

Here's a nice home available for purchase for $109 a month.

Millennials will reject this because not enough somAli's live in the neighborhood to supply their daily avocado toast

Southern California, I'm not buying shit.

Here's a nice $500 new construction house that can be yours if you are willing to work part time a burger king (you aren't because work is hard and the boss might look at you wrong)

>>18827682
imagine being so autistic that you spend your saturday evening screenshotting shithole houses on zillow.com nation-wide searches to prop up a retarded argument on an anime image board.

>>18827682
Boring small towns.

Heck you can even buy waterfront property (millennials excluded) in Texas if you are willing to get a fast-food job.

Oh wait I forget you are allergic to working

>>18827840
I know, you need your refugee cock and sushi rolls at 3 am

>>18821449
Go fuck off.. why arenÄt millennials dong this or that? They are all retards. All of them And that is the sad truth. Spoiled kids, who never got put in their borders. Bow demanding... fucking worst generation we have ever seen. AND WHO IS TO BLAME? YOU FOR NOT EDUCATING YOUR KIDS PROPERLY!

>>18824307
What do you do for work?

>>18821449
>$11,000 in property taxes
Wtf, they are not even that high in Europe!

>>18827883
I'm not a monk, I do need a 4am restaurant sometimes, after a night of drinking and whores.

26, own a duplex and rent out the upstairs. Some people are waiting for a housing crash or are destined to forever be renters, which is alright.

>>18827384
Yeah i think ill pass on living in shit holes.

>>18827736
I know youre just being retarded, but you may want to also read the part where it says "build on your own land". Which you know, means the person has to have land to build on.

Post Recession economy and globalized economy has lead to stagnant wages and even then getting any job over 15$ an hour requires peacock charisma. All the entry level shit is outsourced to SEAmonkeys and pajeets. Just wait zoomer anons, the crash is coming. This pandemic showed nothing has changed. Low unemployment is because of shit like Uber and companies giving only 10 hrs a week and getting away with it. NEETbux is paying more than all of these underpaid jobs which shows everyone how jipped they've been getting. Boomers will get what they fucking deserve.

>>18827585
growing population of subhumans, also coronachan2 soon. a price crash here and there not even bad.

>>18827943
indeed and thats what ultimately crashed the market. spaniard here. prices haven't recovered to 2009 levels. since we don't have FED's magical printing machine.

>>18824939
>>18825230
>Super jew detected

>literally says sold

>>18828013
Living near blacks is one thing I will not do

>>18828146
Ye, definitely, must be a jew because he disagrees with your opinion. How dumb are you?

>>18826941
>20k
>5 mortgages
LMAOOO you're not gonna last too long with 20k

>>18821449
because i have less than $5000 in savings

>>18827122
>bought the top NGMI

>>18828146
Do you understand what happens if I send Satan to pol? You will all get your asses kicked from here to the moon and back again... and you might finally realize that no, not everyone that disagrees with the programmed echo chamber opinion is actually a jew.
I give you the choice. He is not nice

Go do your job then Natas.

Why are millenials too lazy to buy a house? Do they just like renting it something?

>>18828472
Who suffers from this? Millennial Uber sjws. Rejoice

>>18828472
I know where that house is and it’s the most popular, hipster part of town. Go live in Gresham or Salem.

>>18822698
lmao @ niggas who think Idaho and Wyoming are open fields of nothing

t.texan looking to escape and browses zillow for 4 hours a day at work

>>18821449
why are foreign chink investment firms and government entities allowed to come into our country and buy up residential properties, jacking up the prices and allowing boomers to charge higher than market value?

Waiting for prices to drop. I work with a guy who feels like a retard because he bought a condo a few weeks before the 2008 crash and it's still worth less.

>>18821449
oh look its this shitty weekly thread again. cuz they cant afford it there you got your answer retard stop making this thread once a week asking the same retarded questions every fucking time. your troll thread isnt funny isnt witty doesnt make you le funny reddit humor man its just shit like your virginal vapid autistic life

>>18821449
>Why Aren't Millennials Buying Houses?
Because they are marked up 100-200% of what they are actually worth.

I want the crash to come again...

1. loans arent given out like candy anymore.
2. millennials don't know how to do taxes.
3. you need to work for 6 months at a stable job with proof that you can pay off the loan.
4. closing costs are about 3-10k and seller almost always doesnt want to pay. no millennial has that much saved up.

>>18829049
Wait until millennials learn what inflation is

Prices going up bigly in not globohomo

>>18829514
LOL at Miami being 2nd Tier. It's the capital of Latin America. Austin is baby San Fran so no surprise there.

>>18828013

What website is this?

>>18821449
Unless I'm really misreading that, those property taxes are insane.

>>18823935
Lmao an empty field in the middle of MLKville is $65k. Anything you out there would be stolen and the property taxes are probably insane.

>>18821449
I'm seeing a ton of new listings and price drops on Zillow, give it another two months and there will be a lot of boomers trying to get rid of their second homes.

>>18830567
Will you cry when prices rise by 50% in two years

>>18821990
enjoy paying for the illegals

>>18823935
>just live in the nigger hives, its affordable!

>>18821449
if there were no blacks in america we would have lower taxes change my mind

>>18826245
>a decent 2 bedroom 2 bath house will cost you $140,000.
$200k is the floor, for old house needing new roof and floor.
>your mortgage will be ~700/month and in 5 years if you decide to sell you will have nearly $30,000 in equity.
your math is also off. on a payment that low you're on a 30 year mortgage. for $200k thats $340k cost over the loan. you'd have $24,700 in equity, not $30k.
You also likely paid $5000 in closing costs.
its really interesting how every faggot who makes these posts is broke and isn't doing this themselves. you're not ahead of the curve, EVERYONE had the same idea and now property values are bloated pieces of shit

>>18823941
Wouldn't they make more money in the long run if more people could own houses?
Oh wait, if /biz/ has taught me anything is that ling term planning is antithetical to capitalism

>>18821449
I live near DC, a nice house is at least 700k