/biz/ - Business & Finance

>>19032655
Don’t forget when the basement leaks and all your shit gets destroyed or when the roof caved in from water damage.

>>19032655
property taxes association fees down payment repairs insurance illiquid asset niggers move in next door

>>19032655
Property Tax etc.

>>19032655
>Real estate only goes up
>Shit never breaks and maintenance is free
>Yards take care of themselves and require no labor
Oh boy you sure know your stuff

>>19032683
>what is home insurance
>>19032699
>property taxes
already accounted for
>HOA fees
you're retarded
>down payment
FHA loan = 3.5% down
>repairs
t. slack jawed sissyfag
>niggers move in next door
hahahahahahhaha says the RENTER

am i missing anything?

>>19032699
u forgot paying hundreds of thousands in interest on your mortgage

>>19032704
small brain. you essentially pay 100% landlord tax
>>19032715
1) pretty much
2) rare
3) pffttthahahaha what a lazy faggot

>>19032655
I am unlikely to live in one place for more than 5 years for the foreseeable future so for me buying a home = small brain. Even so, your expenses for a home are front-loaded and you're foregoing whatever benefit you may have gained from using that money some other way (like investing). Down payment + closing costs are significant, and most of your early mortgage payments are interest. Your equity 5 years in (assuming a 30 year mortgage) is like 20% of what you put in at most, and you've paid considerably more in that period than a renter.

People who don't realize that the rent vs buy scenario is complicated and highly dependent on circumstance are retarded and shouldn't be trusted with money.

>>19032762
>>19032741
>>19032655
quality thread

>>19032765
>mortgage
Dont fall for the credit jew ever
Kill the credit jew wherever you find him

>>19032810
I assumed mortgage because if you bought your house outright you would have more than 20k in equity. You're a disingenuous faggot or live in fucking Sudan if you think that is how much a house costs

>>19032741
>FHA loan
>repairs

holy shit you are so fucking stupid. you should move to montana with a rake and not talk to anybody ever again.

>>19032655
Real estate crashes 50%
Negative equity -$200k
Interest and taxes paid -$50k
Total loss -$250 K
brainlet OP

>>19032765
You gave a reasonable and well thought out answer to an immature child. I'm sure when his water heater breaks, his basement floods (and his insurance suddenly won't cover it - not that an insurance company would ever do that!), or some other disaster strikes he'll just call up his mommy and daddy and cry about how unfair the world is.

Buy SuterLink

Imagine if you had rented for the last 5 years and thrown the difference between renting and a mortgage into crypto if you want to deal in hypothetical situations. Only people who are too dumb to invest buy instead of renting.

You better start pimpuing women

Nice you bought a house that was marked up 150%, the bank and assessor allowed this because now the bank can give you a bigger mortgage (more interest) and the assessor can collect more property taxes. Homeowners will always get fucked too. Unless you own your house free and clear and live in an unincorporated town you are a brainlet who is getting fucked over by ((then)) even more than renters.

>>19032655
>5 years later rent doubled
>5 years later mortgage stayed the same

renting = small brain

>>19032926
I may be wrong, but the assessor and bank have no impact on sales price. The assessor is either doing it for tax purposes (if it's the county's) or to determine the loan they're willing to give you (if it's the bank's). Your mortgage may or may not be equal to the sales price - down payment. Look up loan to value ratio. It doesn't sound like you've purchased a house or looked into it too much, but you seem very opinionated regardless.

>>19032704
You think you're actually getting the value of your apartment you pay in rent?
Your landlord literally makes pure profit when all is said and done.
That's money you're pissing away

>>19032741
yes if the niggers move in I can leave unlike homeowners

>>19033020
this is why people who truly want to maximize their returns don't buy or rent - they squat in an abandoned house and raise rabbits in the back yard

>>19033055
homeowners can sell their house, and you're still locked into a 12 month lease in most cases

>>19032849
My parents bought their house in 1999 well before the housing market crash for $125,000
The house is now worth over $350,000
If you live in any decent growing city, a house will gain value even after a crash

>>19032926
Houses are worth what people will pay for

>>19033068
so now the task is finding a "decent growing city". If we started seeing EU type privacy laws in the US what do you think might happen to San Francisco? You're a slave to circumstance as much as you would be if it was just the housing market in general you're worried about. This doesn't make buying a house bad, just makes it not foolproof

>>19033093
You can find a "decently growing city" by looking at it's population numbers by year.

>>19033006
Nah I’m actually in the title insurance industry so I do know about this. I’m just being hyperbolic because OP is a moron. But banks and county assessors do have an interest because higher assessed value = more taxes and larger mortgage. Of course smart people wouldn’t take a mortgage on 100% the value of their property but 90% of new homebuyers I see are getting the largest mortgage they can get and no down payment.

>>19033060
It’s easier to abandon the lease then sell your home. Most landlords won’t sue you for the rent if you leave the property. It’s easier for them to just get a new tenant.

>>19032715
In all fairness, most boomer house holders never repaired anything to the point most houses on the market now need more in repairs than the property value.

>>19033120
They're going to pass your debt off to a collection agency.
Given unless you've got a big overdue balance, they won't sue you, it's going to be stuck on your credit and it's going to at minimum be a speed bump on any time you try to rent in the future.

These threads are always made by the biggest dunning kruger retards

Buying is practically impossible. And will become even more out of reach in the post-virus hysteria world when the economy is completely gutted and everyone has to work for either Amazon or wal Mart just to pay their bills. Blackpilled as fuck right now. I work at a hospital and make 21 bucks per hour but I still didn't qualify for a mortgage even with a 700 credit score. I couldn't even qualify for an 80,000 dollar loan for a trailer in a trailer park. How fucked is everyone else who works at Walmart?

It may be jaded of me to say this but be ready for your housing situation to be living with 8 people in a 2 room apartment just to make ends meet. This whole conversation feels worthless.

>>19033068
I’m sure they did I bought a place in 2004 but we have been in a bubble and are about to,witness the mother of all property crashes that will take decades to recover from.

Throughout 5000 years of human civilization Average house Price is 3-4X annual income

When there’s crashes it can go,as low as 1-2 X

That’s the metric to use to know if you are getting value

>>19033259
>700 credit score
why are you shit at paying your bills?

>>19033222
It’s easy to get items removed from your credit score. Also once you abandon the lease the landlord HAS to find a new tenant and only if he can’t then can he sue you for your rental obligation. It’s too much trouble and it’s too simple to find a new tenant (who will usually pay higher rent) that unless you have an asshole landlord you aren’t going to get sued. Also unpaid rent is not getting sent to collections without a judgment, and getting a landlord to sue a past tenant for current unpaid rent simple giving money to the lawyers.

>>19033324
>lease the landlord HAS to find a new tenant and only if he can’t then can he sue you for your rental obligation
lol nope, u r a retard

>>19033132
Yes like our house. Build in the 20 on a nice property. We are thinking to build a new house or sell it.

>>19032655
I rent because its cheaper and I dont have to pay for shit. If I lose my job, I will not have jews coming after me. Sounds like your copeing.

for me, it's vandwelling

>>19032655
VA loan master race reporting in.
Renting is good when you’re a teen, if you’re still renting by the time you’re 30 your a nigger or a neckbeard incel.

>>19032655

the "I never plan on travelling" take

Property tax and interest has massive tax write off fktards. I get 7k back each year from the government for owning a house..

>>19032741
based

>>19033068
Bro that's literally a 4.26% annualized ROI only looking at $175,000 investment gain, all of the money spent on maintenance and taxes would bring that down heavily. You literally could of bought bonds for a 6% annual return back then, the stock market on average returns 10% a year. Thinking of your home equity as your "nest egg" is for retards who can't in to investing, they would of had a better return by renting and putting their money into a better asset class.

>>19032655
if you can't do math i can't help you

>>19033634
You say that like a majority of that money wouldn't have gone to rent, which increases every time you get a new lease.

>>19033650
Renting is almost always cheaper than a mortgage. Renting and reinvesting the savings from renting, on average, will outperform owning and building home equity, in terms of wealth creation.

>>19032655
Exploded mind expansion = doing some simple maths to work out how much of a deposit you should have so that the total interest paid is reduced so much that you're better off buying than renting. Saving 18k on rent to pay 20k on interest and rates doesn't make sense

>>19033716
not always unless you count alternative cost

>>19033888
it all depends on rent/price if it's under 0.5% you rent no question, if it's above 1% you buy no question, in between depends on a lot of things like interest rates the type of the building property taxes and tax writeoffs and other subsidy estimated upkeep costs and mortgage interest being the biggest factor usually.

general rule if you buy on mortgage you want it to be done as fast as possible you don't take 20 and 30 years to pay it back you do it in 5 or 6.

Question for the people that have done the maths, if you can cash buy, isn't alwats better than renting? I always thought that the main issue with buying is mortgage payments, if you can avoid the jew scam, you should be fine buying right?

>>19032655
Some of us don't live in our home town our whole lives dumbass

>>19032655
Not buying your boomerbox at ATH, fag.

>>19033716
no it won't

5 years rent = $140,000

>>19032843
Housing is too expensive, but if i take credit to buy a house thats too expensive for stupid regulatory reasons i fall for the scam
>>19034486
Depends on the location, if there will be good jobs near in the future price will explode, but stuff like Detroit can happen
It would give me peace of mind to own my own place tho, thats worth a lot

>>19034677
>get 5 roommates
>5 years of rent = $28,000

Why does my peepee hurt when I pee

>>19032699
Had my house 4 years I made sure we had newer heat/ac etc. only spent $120 on repairs so far. The cool part is, I don’t have a landlord to deal with. You cucks love having two bosses telling you what to do, huh? Fixed rate loans if it takes me 10 yrs to pay it off then whatever, inflation alone will assist me. Enjoy your apartments plebes

>>19032750
That’s if you follow the normies idea of consuming nonstop..... pay off house to derisk your life almost entirely. If you lose everything gambling on crypto they can never take your house. It would take your state years of unpaid property taxes to take it, which are nothing To pay compared to everyone’s principal balance. If you’re living on the edge in this country, good chance it’s your fault. You’re better off than 90% of the world in eu or North America and you complain that Capitalism is dead etc. social programs bring nations to their knees and the USA may have a large problem with homeless elderly in the next 30-50 years which will drive taxes even higher. Long term outlook is grim with the social security program.

>>19032866
Based
How much SUTER-LINK to make it?
I got like 5k USDT I am ready to fucking go where to find this coin.

cheap condo master race

>>19032655
Is this bait? You clearly don't understand risk and opportunity cost.
If you buy a home for $X you should be comparing the risk adjusted return to investing $X into other assets (e.g. stocks) minus rent.

>>19034723
>buy house
>rent out rooms/garage/living room
>140k profit after 5 years

>>19033509
Or you have a family that charged you rent since 16 and we're total niggers trying to destroy my adult life by stealing inheritance even though they are wealthy as hell and I've worked minimum wage welding all my life because fucking Mexicans

Imagine not owning a house.

>be 2106
>be in Portland
>buy house for 275k with k down
>be early 2019
>stupid hipster fag brewery opens up 2 blocks away selling 7 dollar beers
>my property value goes up overnight
> only owe $150k on a house thats worth 375k
>still manage to throw a 10k into high div funds for the past three years
>housing market might take a hit over the next few years
>not selling for another 10 lmao

I dont even make very much money. Keep wasting your wagie bucks on crypto kiddies. Itll moon one day.

>>19032655
Buyers are the ultimate renters.
You’re longing a currency that is in decline

>>19032655
I would suck this man's dick

>>19034723
>5 roommates in a 1 bed condo

https://www.youtube.com/watch?v=YE9qb1Nhw4A

>>19034859
The US is one of the most Socialist first world (hardly first world really) nations on the Earth. They're pretty much at the limit of how Socialist you can get without it blowing up in your face instantly.

Renting = paying your landlord's mortgage, tax, repair, fees, etc. + plus his profit margin.

So buying is by definition better. Its the same thing except there is no middle man profiteer. Yeah, the bank is still there, but 99% chance your landlord has a mortgage too and passes on the cost to you.

The only way renting could ever be better is if housing prices drop. Rarely actually happens and usually for only 1-2 years, so you have to time your moving perfectly. Plus with JPow and President Pump its far more likely the dollar will collapse than housing dip.

>>19034859
>>19035541

US is still capitalist. Its just not a free market. The government in the US at every level pretty much rigs it so housing prices will always go up at least nominally, through printing money at the federal level and zoning at the local level.

>>19034807
Uti. Make sure you pee after sex

>>19033068
Sure, let's just extrapolate the past. In real (not nominal) terms the real estate market just had very little room left to grow.

>>19032655
Okay and what the fuck am I supposed to do if I want to move? I have no idea if I even wanna stay in this state in two years, why would I want to tie myself down with a 30 year loan and be stuck here until I'm almost SIXTY?

>>19035677
What if the market flips over with the average rent dropping below the landlords maintenance cost. Landlords are still better off renting out than carrying all costs themselves.
This can happen for periods of 10 to 20 years after which most landlords have dropped out and the average rent price by that point should recover above the cost of providing the property.

>>19034486
>Question for the people that have done the maths, if you can cash buy, isn't alwats better than renting?
no see >>19033991

>>19032762
>3) pffttthahahaha what a lazy faggot

>>19036284
I just refinanced at 3% 30yrs. I was planning on paying it in 15yrs, I just wanted the 30yr because it gives me a safety net to pay less for a while if I ever needed to. The tax write offs are great for home ownership, but the insurance in my area sucks. I have windstorm and flood, it's all very expensive. That said, I hated living in a condo and to rent a house like this would be significantly more than my mortgage + insurance, so... some of it is just having a use for the space (living in it).

The last 2 years having that money in the stock market rather than paying off my house was a really good move, now because I'm playing it safe I moved my money to cash and so I might accelerate my payoff of the house more for a while. If the stock market crashes, I'll slow down my payments a bit and put money back into the market.

Thoughts?

>>19036241

Anything longer therm than a few years, than its definitely better buying because you're building equity (and generally not having a landlord up your ass for that long is good).

>>19033634
Your theory is leaving out the part about paying rent. Good luck getting 10% returns in the stock market BTW. I'm not saying buying a house is always the best idea but your logic is severely flawed and based on pie in the sky scenarios.

>>19032741
Have fun with huge nut you got to pay every month. Mortgage + PMI + taxes + utilities / water + insurance. Not hard to be on the hook for 3k every month in a lot of areas for 450/500k house. Anything under that price point you're probably living in niggerville USA or the boonies. Nothing wrong with living in the boonies as long as you have a job to pay that nut.
The kind of people in this highly levered scenario are likely getting crushed right now, liquidating portfolios at a loss, taking out loans, etc.
One of my big pet peeves is the binary mindsets of either a house is a great use of money or it's a total waste. Scenarios are different for everyone, don't fall into the 'either or' mindset.

>>19033509
>0% down
>No PMI
>probably lives in a 90k house in bum fuck South Carolina

>>19034486
No, buying cash is really only useful when it's a highly competitive market, when it's a dump that won't get conventional financing, when you have so much money that you don't care because your house is just a store of wealth and a hedge against other assets.

>>19036072
In theory you could just rent it out but I understand not everyone wants to do that.

>>19036548
>Good luck getting 10% returns in the stock market BTW.
Remember the average 4channer has only ever known a bull market.

>>19034486

The thing is all mortgages are made by a government owned, money loosing corporation. They are given at artificially manipulated prices. The only private companies involved are the ones that service the mortgage. They give you the mortgage, immediately sell it to the government, then collect a fee every month. So its a "scam," yeah, but the victim is the taxpayer, not the homeowner. The homeowner is actually benefiting from a fake interest rate that is far below what would ever by remotely profitable in a free market. The government rigs the housing market, which is why owning is almost always better. Its a scam to benefit people who own real estate (guess who owns most real estate).

>>19032683
insurance>>19032655

>>19036581
Yeah, my mortgage is serviced by my bank directly, but is sold off to Fannie Mae

>>19036340
>The tax write offs are great for home ownership
they are not a thing where i live

what i love about renting is the lack of risks associated with ownership. the freedom to move and relocate as needed with little hassle.

what i love about ownership is you are free to alter and refurnish your home to your liking.

my personal rule is never have more than 30% of your net tied down in real estate. it's too risky and expensive. most people buy like retards and keep 95% of their net in their home that keeps sucking their money away via payments and insurance and upkeep costs over the decades and barely appreciates above the official inflation.

>>19033634

First of all a house is a leveraged investment, with 20% down you only 1/5th the return you'd need if you invested your down payment into something else. So that 6% annual return, is actually a 30% return. Think about if you put $100k down on a 500K house and get 6% return, that's $30k from a $100k down payment. This free leverage is an incredible good deal, and there is no liquidation or margin maintenance, there is no other way for a common person to get such leverage.

Second "all of the money spent on maintenance and taxes" is just passed down to you in rent anyway. Renting a shitbox is obviously cheaper than buying a single family home, but compare apples to apples, renting includes all the costs of home ownership with the landlord's profit margin on top.

Third, after long enough time frames with inflation, a fixed mortgage payment becomes incredible cheap. While rent will be slowly raised over time to match inflation. Renting can only come out ahead after long term periods of deflation. This is a fiat system built on the fact digits must go up, so the chance of that happening is near 0%.

>>19033509
what a bizarre way of coping with the fact that you are a miserable beast of burden for a hamplanet roastie and her brood

>>19036697
>a house is a leveraged investmen
jesus fucking christ the amount of drugs it takes to think that...
>Second "all of the money spent on maintenance and taxes" is just passed down to you in rent anyway.
in certain markets possibly but when your rent is less than 0.5% you can be sure that the landlord is bearing this burden like a retard because he is only looking to make his mortgage paid by rent like a retard.

it all depends.

>>19036697
>Third, after long enough time frames with inflation, a fixed mortgage payment becomes incredible cheap
you already paid for your home 2-3 times already by that time kek. just do some math. mortgage is best to be paid as fast as humanly possible. every other scenario just makes the banker fat.

>>19036872

Think about if you could buy stock indexes as 5x leverage, with NO margin maintenance requirement, and retard-low fixed interest for 30 years? Would you not take a bet that S&P500 will be higher in 30 years? Its an unthinkably good deal, but that is what a mortgage is with real estate. Remember, mortgages are given by the government at a loss. Its literally free money at the taxpayer's expense.

>>19036913

I'm comparing it to renting. With renting you'd have paid more money, and have 0 equity. My point is if you get a 30 year fixed rate mortgage, after 10 or so years you rent will be up 25% at least, probably much higher maybe even double. But your mortgage will be the exact same.

>>19036974
>after 10 or so years you rent will be up 25% at least, probably much higher maybe even double. But your mortgage will be the exact same
yeah after two decades my $800 rent payment will finally catch up to a $1600 mortgage payment, then I'll have the last laugh at those rent cucks!!

>but compare apples to apples
why, because if you don't your flimsy argument falls apart?

>>19036548
>Have fun with huge nut you got to pay every month. Mortgage + PMI + taxes + utilities / water + insurance. Not hard to be on the hook for 3k every month in a lot of areas for 450/500k house. Anything under that price point you're probably living in niggerville USA or the boonies.
pftthahahahahaha how old are you?

>>19032655
OP doesn't understand ownership & exactly who owns who during this mortgage process. He put up this to feed his confirmation bias.

>>19037099

What are you saying, that a $800/m apartment is cheaper than a $1600 mortgage? No shit. But you are probably comparing a studio apartment or room in a shared house to a single family home. You can buy condos too, its kind of like half renting because you have to pay the building fees, but your total cost would still be less than the comparable rent.

In your scenario, yeah you'd be living in a shoebox for 10 years, having built 0 equity, and probably have a rent payment becoming more expensive than the mortgage would have been if you bought a nice house.

>>19037099
if you're living somewhere where rent is $800 then that city has decent houses for $150,000

get rekt you stupid fuck. this is why you rent

>>19036974
>I'm comparing it to renting. With renting you'd have paid more money, and have 0 equity.
not true. it's a generalization that may or may not be true, i explained how it is already.

>>19032655
The bourgeoisie will perish. We don't need property where we're going.

>>19032741
>Get sick
>Lose job
>Lose house
What now jogger ?

>>19037292
>rent
>live amongst joggers
>get shot and die

hmm, well since i wasn't a dumbass rentcuck i made sure to have 3 months worth of money on hand for living expenses before i bought, rendering me ok

you on the other hand are now dead L O L

>>19037235
in my country the average rent is between 0.37% to 0.49% of the buy price. i have no idea why anyone would think it is a good idea to buy a home especially on 20-30y mortgage.
because as a general rule every 10 years you have to spend half of what the home was bought for on repairs especially true for houses with large traditional roof. some building types are exempt from this rule commie blocks for example are notoriously cheap to upkeep altho the yearly contributions covering shared expenses and repair fund can reach 0.5% of the price so that's about 5% in 10 years not free at all.

>>19037263

It is 100% true with renting you are building 0 equity. What are even saying? You are also paying a higher rent for the same quality of housing, so you also have an opportunity cost of that when renting, while when owning you could have invested the difference.

With renting you also have an opportunity cost of the down payment, you have to invest it in a way where you beat 5-10x the return of the house, which will be impossible, so you have another additional cost there in renting.

There is literally no benefit to renting, besides extreme near term flexibility. Any time frame over a few years and owning is far cheaper.

>>19037292
>>19037340
>jogger
>joggers

I like this meme immensely

>>19037351
>in my country
stopped reading there. leave.

>>19037373
>It is 100% true with renting you are building 0 equity.
nobody argued against that, i said it's not true that you are worse off with renting expense wise than owning if rents are cheap. it simply doesn't work like that. you can easily pay 2-3.5 times what rent would be with ownership easily. it all depends on the rent/price ratio the interest rates and the upkeep costs.

>>19036675
I'm at 34% of my net worth in real estate, so a bit over that.

>>19033716
What tje fuck are u talking about lol. I live in an 1100 sqft 2br/bath single family home and my mortgage is 700. To rent in an apartment complex for a 2br/1 bath is gonna be at least 1100 bucks

>>19037388
it's important to avoid generalizations that are simply not universally true on an international board anon.

>>19037351

Why are arbitrary comparing rent prices to a percentage of the buy price without context of interest rates or expected appreciation? The only valid comparison is monthly cost to rent.

>>19037427

Landlord's pay their mortgage, taxes (which are often times more for non owner occupied property), maintenance, etc. through rent. All the costs of home ownership are just passed onto you through rent along with the landlord's profit margin. By definition renting will always be a worse deal, it just requires less capital up front.

>>19037439
put 2% of your net into bitcoin and you have more than offset that

>>19037235
Here you go friend, I found a listing in my city that should come out to about $150k after closing costs. It's down in the shitty part of town inhabited mostly by hispanics. It's 72 years old and the railroad runs behind it.

>>19037212
>You can buy condos too!
Actually look up the association fees for condos. It's more financially catastrophic than either renting or owning. It's the worst of both worlds.

>>19037373
look at this fucking moron talking about the "opportunity cost" for a 3.5% down payment on a house hahahahahaha

hey fuckhead, in 5 years I'll have saved over $20,000 in home equity while your dumb ass has NOTHING.

not only that but my house is TWICE the size of your shitty apartment that is attached to your neighbor's and my mortgage is the LESS

>>19032849
real estate crashed 10 years ago and recovered within 5 years basically. real estate is one of the safest investments you can make.

>>19037462
why not read my whole post before you reply?
the rent/price is a rule of thumb quick estimate tool. obviously you break down your real expenses when you decide what most people fuck up is they underestimate the upkeep severely. the other thing they underestimate is how much of their money goes to the bankers compared to how much goes into equity. and also forget that with equity comes liability.

>Landlord's pay their mortgage, taxes (which are often times more for non owner occupied property), maintenance, etc. through rent.
no they don't in general. it's much more predatory in case of professionals and much more retarded in case of amateurs.

>>19033286
>decades to recover from

lol it's a happener. dude we're going to be fucking fine. the great depression lasted 4 years. jesus christ. take your meds.

>>19037489
notice how you screen shotted the street view of the home instead of uploading a reverse-searchable image uploaded by the realtor lmao

youre ashamed of where you live because you know youre a fucking moron for living there

>>19037495

I agree with you. I was saying there is an opportunity cost to renting, because you aren't taking advantage of the leverage that a mortgage provides. If you take your down payment and invest in stocks or something then you'd have to get like a 30%+ return to beat the appreciation of the house with leverage of the mortgage.

>>19032655
she cute

>>19032655
Checked.
I can not believe that there's people debating that renting is financially better than owning.
The amount of cope in here from lazy zoomers who are afraid of DIY is scary.

I literally know how to profit off of this

>>19037670
In quite a few cases renting IS better than owning though, one isn't always necessarily better than the other.

>>19037464
I bought bitcoin at 1,300 and sold it at 14,000, made a bunch off it. But I never bought back in. When should I?

>>19037692
the ONLY conditions where renting is better

1) you plan to move within 5 years
2) you're a dumbass living in an area where houses are over $300k for a 1 bedroom

>>19037549
dunno where you get 3.5% downpayment, 30% is basically the minimum required for the better constructs, even then it's true that the bigger your downpayment is the better your interest will get because the risks are significantly lower for the bank.

>planning on living in an area for less than 2 or 3 years
>price to rent ratio is way too high compared to the national average
>don't like responsibility whatsoever

then rent. Otherwise, find a good house and buy. The redpilled way to afford one is to get a duplex and rent out the other side.

>>19037717
buy over time instead of timing bottoms. but basically buy every dip while below this blue line

>>19037692
Buy appreciating assets.
Rent depreciating assets (certain conditions apply)

It's that simple.

>>19037759
Is that off a website I can watch?

Downsides
>Maintenance costs
>Property taxes
>Tying up a large amount of money into one home, in one part of the country (no diversification)
>Buying or selling a home costs thousands of dollars
>Stuck to living in one place (bad neighbours, tired of the area, what if you have better employment options elsewhere?)
>Mortgage interest you're paying before you even TOUCH paying off the principal and building equity
The money you save can be invested into index funds

>>19037734
>You plan to move within 5 years
Yeah maybe you'll want to do that for work if you are young.

There's a good calculator for rent vs buy here. https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html

>>19037782
sadly no some guy posts sporadic updates i could probably make an indicator on tradingview if i really got into it... that's a project for a rainy day.

>>19037797
***Also property prices only about match inflation on average

>>19037770
No it's not that simple, what if I can get a better and safer return with stocks?

>>19037546
I screen shotted the street view because that's what it actually looks like, not the porno-vision photoshop job done by the realtor seen here, with the contrast cranked to +10 to really make the crappy lawn, fresh coat of paint, and $300 plywood paint-sealed porch really pop, and the image carefully cropped to avoid showing the neighbor's Confederate flag, or the open expanse of chainlink fences leading down to the open railroad.

>>19037835
>No it's not that simple, what if I can get a better and safer return with stocks?

How does this statement matter at all if your monthly payment + maintenance comes out less than your rent? The difference is you're actually building equity and holding on to an appreciating asset, getting to leverage a cheap loan to do so in a mortgage.

>>19037871
>How does this statement matter at all if your monthly payment + maintenance comes out less than your rent?

They often don't. I live in the Toronto area and the mortgage on even the most shitter condo will be a lot more than renting it, with the other downsides.

Then you consider the opportunity cost of having the downpayment invested and stocks providing a much higher expected return

>>19033093
>EU type privacy laws
can someone explain what this anon is referring to? not a rhetorical question

>>19037797
>Maintenance costs
negligible

>Property taxes
tied into your rent

>Tying up a large amount of money into one home, in one part of the country (no diversification)
what is a lease?

>Buying or selling a home costs thousands of dollars
that your tens of thousands of dollars in home equity pays for

>Stuck to living in one place (bad neighbours, tired of the area, what if you have better employment options elsewhere?)
you literally live 18 inches from actual niggers. dont buy if you plan on moving within 5 years

>Mortgage interest you're paying before you even TOUCH paying off the principal and building equity
sorry about your shitty loan

>The money you save can be invested into index funds
>money
>saved
>....renting?
hahahahahahhaha stay poor zoomer

>>19037959

Well if you live in an area with absurd home prices the logic doesn't really apply, you're already in an inflated market

>>19037997
This is just retarded. Property prices don't grow as much as you think they do on average.

>>The money you save can be invested into index funds
>>money
>>saved
>>....renting?
>hahahahahahhaha stay poor zoomer
I bet I have more money than you do

>>19037871
>your monthly payment + maintenance comes out less than your rent
in that case you buy no question, i'm just telling you this is not at all a universal truth. markets and circumstances vary. lot's of times it's ina grey zone when only looks to be worth it if you are retarded and do your math wrong lots of times renting is cheaper period. especially considering opportunity cost. like i said i simply don't get where these 3.5% down payments come from this is not the reality i live in. but even 3.5% in bitcoin can make you a millionaire in 5-10 years.

>>19037836
womp womp.

stay stupid

>b-but there's NIGGERS!
you live in fucking Kansas City you stupid fuck, obviously it doesn't bother you

>>19034992
>rent since 16
wut?
Why are you still living with these parasites?

>>19038111
>Property prices don't grow as much as you think they do on average
irrelevant

>I bet I have more money than you do
HAHAHAHAHAHAHAHA post ONE single tangible piece of evidence you not only aren't living in a cardboard box under a bridge but actually have money

I'll go first you broke piece of shit

ITT
brainlet renters reeeeee

>>19037797
>The money you save can be invested into index funds
Spoken like a true child that has never been in a recession

>>19038119

I've bought a house with a 3.5% down payment so that's the reality I live in, 5-10% is pretty standard in the US now. Real estate investment is about leveraging a cheap mortgage for the opportunity to invest large sums of money into an appreciating property, it's certainly more of a guarantee than crypto or stocks given you aren't in a niggertown. Home values are rigid because people refuse to sell during downturns

>>19038227
>I've bought a house with a 3.5% down payment so that's the reality I live in
and what is your interest on the mortgage and how many years?

>>19038173
>>19038198
I even linked you idiots a good calculator on renting vs buying. Are you actually going to think critically or just desperately justify your own decision for everyone else?

>>19038299
still no tangible evidence you aren't poor as fuck. just leave you prepubescent permavirgin NEET

>>19038357
jesus christ no need to sperg out so hard when you losing an argument

>>19037797
this kike is unironically subscribed to the Jew York Times hahahahaha kys

>>19038436
a hurt dog hollers, post bedroom you broke third-worlder

Both sides have good arguments. My problem with buying is that you'd have to make a huge bet at an early stage in your "real estate learning cuve".

>>19038126
I'm evaluating if it's worthwhile to explain to you how it is you're catastrophically, irrecoverably retarded or not

>>19038533
uh oh, some broke ass rentcuck is "evaluating" if he's going to "own me". guys please help what do i do!?

pffttthahahaha suck a dick nerd

>>19038357
>>19038469
>The high caliber of debate and discussion on /biz/

>>19038589
nope don't need to, you've put it on display for everyone else

>>19038666
>wahhh its a townhouse
>wahhh the zipcodes are 10 miles from eachother
>wahh I'm a stupid teenager with no flexibility hence while I'll continue to pay $900 a month for a shitty one bedroom surrounded by gutter trash

>>19038643
oh look, the Jew York Times subscriber is also a self-hating redditor hahahahhahahahhaha you cant make this shit up hahahaha

>>19034859
>I’ve never considered property taxes

I used to explain this all the time but I got sick of the tard wrangling so now i relish the renter mental gymnastics

>>19038111
>>19038436
The Renter is immunized against all dangers: one may call him a nigger, parasite, beaner, financially irresponsible, it all runs off him like water off a raincoat. But ask him to provide *evidence* he is not any or those things and you will be astonished at how he recoils, how injured he is, how he suddenly shrinks back: “I’ve been found out.”

>>19032655
what kind of ghetto are you living in where 50k is good enough for 5 years rent?

>>19038259

30 year mortgage at 3.3% interest, rates are ridiculously low right now. I'm planning on buying another duplex later this year after the housing dip. The value in real estate isn't just the appreciation, it's being able to leverage mortgages to increase your upside.

>>19038737
I'm not worried
if in ten years I decide I want to move to the very outskirts of a flyover metropolitan area to live as a meth addict, I'll take your sage advice, head on up to KCK, and buy myself a place like you posted, as it will likely cost what it does today, since that's what it cost ten years ago

>>19032655
i am equal parts lonely and horny.

>>19039476
what kind of kike infested shithole are you living in where a shitty apartment costs over $830 a month?

>>19039523
>gunshots ring out as he types this. the single mother can be heard next door screaming at her 1 year old. just outside his door, a drug deal is going on and a crack-addict is asking for spare change

>>19039594
Pretty much anywhere

>>19039660
wrong

LOL @ you stupid rentcucks unironically lying to yourselves to justify your stupid decisions. you willingly remain dumb broke and low-class for the sake of being "right"

you deserve your current situation. pigs love mud

>>19039459
rofl

>>19032655
Based homeowner

>>19039649
>I have no argument except to call you a nigger

What happens when you are old and the rent Jew up the rent or sells up. Where do you go then? Kys?

Let's say the cost of rent ends up being equal to the cost of owning, I'll end up owning my property and no one can do a thing about it. The rent Jew will have his way with you

>>19039723
I own a home. I'm pointing out that there are few placed (worth living in) where rent is $830 or less.

>>19039958
and im providing evidence you are WRONG.

sorry you have the reading comprehension of a literal black female. as you recall, you posted this >>19037836

>>19040000
The average cost in your picture is $1040.

>>19039499
so you basically bought your house for 2.5 times it's cash market price. and you are happy with it. an other 0.8-1x goes into upkeep which is a very modest estimate. your equity is tied up you have tons of risks associated with ownership... yeah technically there are circumstances when this beats renting.

don't see the hype. especially that your equity can go to shits from external circumstances to you.

>>19032699
Property taxes aren’t a problem with the concept of home ownership, it’s a problem with the government trying to steal from you based on something you already own

Also, don’t pay for any less than 60% of a house upfront.

>21 posts by this id
Shut your quim

>>19039594
>what kind of kike infested shithole are you living in where a shitty apartment costs over $830 a month?
>>19039660
>Pretty much anywhere
>>19040068
>durrrr well da avaerige cost derrrrr
dumb fucking nigger

>>19032765
But you shouldn’t be buying things you can’t afford. If you can’t pay off a home in a period no less than 3 decades, a third of an average human life, there is a problem with your country’s economy.

Buying is always superior.

>all this renter cope
this is why you are poor

>>19039476
this

fucking flyover scum

NO ONE WANTS TO LIVE IN YOUR SHITHOLE STATE
ITS A FLYOVER FOR A VERY GOOD REASON
FUCK OFF
FONT YOU HAVE A WALMART PARKING LOT TO GO HANG OUT IN

>>19040121
is that all you've got? pffttthahahaha rentcucks on suicide watch
>w-well youre posting an awful lot of posts my dear chap! pls stahp

>>19040083

Now factor in inflation, factor in appreciation. You don't see the hype? You don't see the hype in humanity's oldest wealth vehicle? Lmfao, of course not zoomer. You will when you're 60 and bitching about people with landed wealth from property and you're collecting social security because your shitcoins were memes

>>19033259
You were only correct for the first two sentences (assuming we don’t go full pre-WW2 Germany which I guess is what you’re predicting)

For everyone complaining about the economy and closing it down in relation to the virus, this economy was on stilts to begin with. It was bound to implode and corona simply sped it up by a few years. The housing market in particular is due for a shake up. Young people are priced out of the option entirely, which has lead to a cultural trope of whether or not it’s worth pursuing (it was a subset of the American Dream to have your own property and estate and pass the wealth through your family as you move up the social ladder etc) as this thread demonstrates.

>>19036548
$500k house? Who buy a $500k house with a FHA loan? Also $500k literally gets you a gigantic oversized house to fit a family of 5 in parts of texas, and certainly in arkansas and oklahoma. If link moons in the next few years I am probably going to set up my apocalypse homestead in oklahoma/arkansas because it is so cheap, also quite beautiful and based.

>>19040169
Jew York kikes BIG MAD

>>19040169

Don't you have the coof to go die from, termite?

>>19037527
People will be laughing at your post, I screen capped it. We’ll see buddy. I believe the virus was worth shutting down for, and even I know things are gonna be fucked. But then again I’m tired of wageslaving or the idea of doing it, so anything less than a well paying degree-based career for me is unacceptable at this point

>>19040175
>Now factor in inflation, factor in appreciation.
why would i? same applies for rents and salaries. you can calculate at present value and save a lot of headaches. that's the funny thing about inflation. applies to everything.

>>19038139
I live in NY with my pops in a paid off house, and I’m lucky to do so so that I can save. I know a lot of people in the situation the guy you replied to have, where their families are not only asking them for rent, but absurd amounts too. I had one friend who’s mom wanted like 500$ a week, when he worked a near 60 hours seasonal overtime job that landed him with about 600$ a week.

So the question is, how do you even afford to move out?

Cheap rent, saving for ocean view/front cottage and spending rest travling world. Chad moves.

Owning home in bumfuck sticks with shit view, looser town with nothing to do JUST so you can own something. Cuck moves.

>>19035019
>not buying in full value
Oof

>>19035324
Yeah but once you own the home what’re they gonna do if the dollarydoo crashes? That’s your property. Fuck credit, loans, banks and Jews. That’s YOUR property.

>>19040288

>why would I

It negates a lot of the cost, retard. That's the whole point, when all variables are considered buying a decent property at a good price beats renting every time. When you rent you pay for the convenience of not owning the physical dwelling and being responsible for it. It isn't free lunch. There's no need to be defensive or thick headed about it, this is us literally trying to get across to you that there's another way to maximize your wealth creation passively, take the advice or don't, who cares.

>>19035677
>if housing prices drop, renting is better
You wot? That’s when you buy a house

>>19040324
starting to think my mother was not so bad. i still owe her some money about $1200

>>19032810
Retard detected. I bet you were one of those guys who had to take a remedial algebra class in college. Lol JK you didn’t go to college.

Mortgages are quite literally the best thing about buying a house. If I couldn’t have a mortgage, I’d rent forever. Mortgages aren’t debt, mortgages are what big boys call “leverage”. And it’s the best form of leverage an average jack off like you is ever going to get.

>>19036060
This is another point I’m not understanding. This picture, this mentality, is relevant only if you’re buying 2+ homes to flip them. What does it matter the value of your home if you’re trying to establish a house for your family? That house should be passed down the family name for generations.

>>19032655
Lol every rich person rents because its cheaper and they dont have to deal with all the overhead. Even grant cardone talks about how buying a house is stupid because it fucks you in the end.

>>19040386
>It negates a lot of the cost, retard.
nope because the costs also go up with inflation retard. don't be selective and biased!

>>19032741
NOOOOOOO YOU CANT JUST BTFO RENTERS LIKE THIS ITS A GOOD IDEA TO PAY MONTHLY FEES FOR A SHITBOX IN THE SKY SO I CAN LIVE A VIBRANT CITY LIFE

>>19040333
>saving
hahahahaha imagine being this retarded.

hey dipfuck, you do realize in 99% of America, a mortgage is cheaper than rent, right?

in 5 years you will have dumped more money into rent and never see a dime of it ever again whereas I pay 20% less on a house that I can sell in 5 years and get back a cool 20 grand

S M A L L B R A I N

rentucks are unequivocally retarded. and they don't even realize they're not only wrong but full blown nigger-tier intelligence

>>19032926
Oh look another dumb ass. Tax assessments are completely decoupled from bank assessments and have no relation to each other.

>>19040386
>It isn't free lunch.
it is if your rent is below 0.5% of price your landlord basically paying you to inhabit the place

>>19040433
Mortgages don't go up with inflation.

>>19040433

Your mortgage and your rate are fixed. Jesus Christ

After 12 year rents will have gone up 50% across the board while your home payment?... IS THE EXACT SAME.

>>19040465
all costs go up that's my point so you can calculate the rent and costs at present value mortgage can also be calculated at present value because of the opportunity cost of holding cash.

>>19040461

There are certain metro areas, where you shouldn't be living in if you're making under $150k anyway, where renting is more cost effective than buying a house, yes. Places like NYC, San Fran, and Denver. My advice to you is to find another city or squander a metric-shit ton of potential wealth creation in your youth. Unless of course you're making bank and this is a temporary gig.

>>19040432
hahahahaha holy fucking COPE
imagine unironically believing this

>w-well this youtube said it was stupid so there's that

fuck, you rentcucks are so incredibly stupid, I had no idea so many of you existed. literal scum

>rent and invest the difference
>mortgages bad, buy cash
>owning property is such a hassle, let those stupid landlords deal with it

Based retards. Real estate is a litmus test for financial literacy and rent cucks fail.

>>19040500
i'm telling you in my entire country renting basically beats buying. individual exceptions and circumstances aside of course.

what happened here with covid is mortgage payments got freezed but not rents. in this environment lot of renters got fucked.

>>19037235
If you pay only 5k for a house that’s only costs 150k (which where I live is dirt cheap) you’re doing something wrong

At that point you might as well buy outright. Or at least 100k or 120k’s worth. That’s ridiculous. Of course your monthly payment is gonna be high, the mortgage being taken out on you is risky af bc you’re a loser who bought 5k to the table to buy something that costs 150k.

God I hate credit. God I hate retards. You people are such dummies.

>>19037286
Woah woah woah woah pal. Everyone deserves property. How about that? No more “estate tax”. No more “property tax”. When you buy a home it’s yours until you die and your next of kin if you have any decide to sell it

>>19040566
ah yes, let me just to grab my $150,000 I managed to save up while being in the workforce for 4 years

nice LARP.

post ONE single tangible piece of evidence you not only have $100,000 in cash on hand but arent broke as absolute fuck living in a cardboard box.

>>19032655

lmao, are bankers and dipshits who bought "fixer uppers durrrrrrr" still trying to push buying a fucking house? I'm going to be laughing my ass off when the housing market collapses again later this year.

>>19040649
All you people are such smart “investors” here on biz and you’re telling me 100k is too rich for your blood? It’s called saving. Budgeting. I have a phone bill and ny jew required auto insurance. My insurance is cheaper if I pay it for the year in full, so 1600$. I save by paying things off, which is how a home works. But you idiots are so hard over slaving away over 10,30,50 year periods like cattle before you fully own something and the bank can’t pull the rug out from under you, that you don’t see how it’s better to just BUY things? Shut the fuck up lmao

>>19040681
>"the housing market is going to crash, just watch", said the increasingly nervous man for the 5th year in a row

>>19040631
> When the Koch brothers have brainwashed you so much to believe that you will ever be affected by the estate tax.
Trust me, the gubmint doesn't want to tax your sad $250,000 property in Fuckdick County, USA. It's sad enough that you lived your life in the shithole, they don't need to tax your next of kin as well.

>>19040720
oh well would just look at that. not a single piece of tangible evidence of one's wealth, let alone proof you arent posting outside of a McDonald's using free WiFi

oh you live in NY? geez, I'm sorry you're homeless AND living in an absolute shithole that you're too pussy to leave and start over

Anyone living west of Ohio doesn’t own their land. They are renting it from the United States. Only the railroads and Feds own any land. Everyone else is a licensee.

>>19040549

I'm confused then. That sounds like a government that goes to bat for and props up property owners over renters.

I don't get this why (((homeowners))) always try to push this to you as well. Live in your house and be fucking happy if you want. So there seems something inherently wrong with (((owning stuff))). Look I have this and this and this. Fuck you, live your life and leave me alone.

>>19040843
shut up kid you literally live with mommy and dont even have a choice to buy or rent. run and tell her she's a stupid cuck in par with niggers for renting and it is borderline child abuse for forcing you to live in such proximity to blacks/browns

>>19040900
what i imagine you and your white chimp father look like

>>19040772
Here's mine. The $295k is the cost of the house. The $205k is the total cost of the loan, as I put $90k down.

>>19040843
We're trying to help. If people want to ignore the advice, that's fine. Yeah, there are cases where renting is fine, but the large majority of people should ultimately be looking to own a home.

>>19040900

Did I hurt you or something? Aha, I guess it is about you trying to tell yourself " yes I made so right choice by buying this and this and this ". And to confirm it now I have to force it down to peoples throat. Cause maybe I didn't do right choice. Maybe my castle is not castle after all, maybe it is my jail instead.

>>19040807
>west of ohio
what this mean? im retarded

>>19040508
Prove it wrong then lol? Insulting me doesnt prove your point. Paying a mortgage you end up paying close to if not more than 4 times the house value. This doesnt include all maintenance all property tax as well as home insurance, all those things you dont pay for renting and just fuck off when you want to leave. Buying a house is for people who like to pretend being rich. Even paying rent your entire life is cheaper than owning a house. Mortgages are for boomers, how much is their house worth now lol?

>Not taking the landlord pill and having plebs pay your mortgage.

>>19040951

Based street cleaners

The boomer crowds life is like this: now I have house ... years go ...let's improve things ... years go ... let's improve things ... years go ... then you are old, then you die and your house collapses. End of story.

>>19040528
>instead of providing sound reasoning or refuting theirs, we can just associate their reasoning with being stupid and a minority
>that'll show 'em
this is the depth of your buyers' remorse

>>19040995
boomers got lucky rich foreign money bought up all the property around them to bring their boomer shack valuation multiples of what they paid for it. they never could have saw this coming but now want to kick the younger generation while theyre already down and act like it was all premeditated.
the boomer never admits they got lucky at anything.

>>19034540
So you left there to be poor somewhere else?

>>19040964
>Did I hurt you or something? Aha,

>>19040951
kek I wish

>>19034992
If you cant find good welding work blame yourself not paco, whiner

>>19040964
how many levels of pajeet are you on?

>>19041153

Why are you wearing that stupid bunny suit?
Why are you wearing that stupid man suit?

....

>>19041213

How many levels on coherent sentences in this thread are you on? Go fuck yourself. Thanks.

>>19041221
cringe and schizoid
>>19041245
BIG MAD

>>19040409
Look asking you to help out if you can afford to is fine. If she’s specifically pricing you out of the independence she then scolds you for not being able to afford in party due to her, there’s a problem.

>>19040414
No, just buying your house outright is best. Why would you want the bank/credit company to have so much as a 5% ownership of YOUR property? Mortgage is leverage for the bank to take your fucking house away retard

>>19040995
>Paying a mortgage you end up paying close to if not more than 4 times the house value
whoa cool, paying rent you literally throw away every single dime. your argument is small brain.

>>19032655
>32 posts by this id.
Cringe.

>>19032847
I disagree but based norm don rickles reference

Also I've rented since 2004, EU. Total cost about 60 000 EUR so far which is nothing. In one place I lived in I think for 7 years - whole neighborhood changed. I loved the place for half that time. In the end I hated the whole neighborhood. From chill 1900 era houses and nice nature to complete douches with Teslas with everything built full, from friendly neighborhood to wannaberich everybody looking down to each other hell. It would have been painful I believe if I owned a house there and seeing it change.

>>19041351
Paying less money isnt throwing away money its abetter invesment. Saving thousands of dollars isnt throwing away money. Throwing away money on depreciating assets that cost you over 4 times your investment is called throwing away money. Im gonna save all that money and invest in something that doesnt take money out of my pocket every month, thats called a better ROI.

>>19041117
Agreed the same argument you always get from them is " get a real job like I did." Its no longer the same for accomplishing what they did.

>>19041621
you arent saving money though you absolute fucking retard

I'm LAUGHING @ you rentcucks who blindly believe you save money monthly by renting hahahahhahh absolute morons

>>19040772
How would I leave? How would I AFFORD it lmao

I’m waiting until I have at least 80k to consider moving let alone putting a down payment on a house. And then when I do, my NYS salary will bring me further in bumblefuck, US than it did here. Hell even by moving upstate in the same state I stand to make my money go further.

>>19040772
Besides, my pops owns this house that my nana paid off when she moved here, why would I want to just abandon that? I inherit this eventually, that’s an asset I have now. I have to do what costs the least

>>19040961
If you had 90 why wouldn’t you put at least 150 into a 250k home? That’s not enough, you’ll be paying that for years

>>19040729
The commie schizo posts again

>>19041873
>How would I AFFORD it lmao
wait... you are wondering why i dont have $150,000 to buy a house outright but you dont even have 3 months worth of saving to be able to relocate and find another job? hahahahhahhahaha this is too good. dumbass zoomer, get the fuck out of my thread you absolute moron

>>19040961
Renting is only worth it when rent is cheap. Rents are high bc the large majority of people in their 20s and 30s, the upcoming would-be homeowners, can’t afford homes and so are forced to rent which landlords take advantage of (partially out of need, partially out of greed, bc costs are high for them too) and home values keep going up further pricing an entire generation or two out of home ownership. You don’t see that as a problem? Home costs need to come down, economic principles demand it

>>19041823
you need 30k to play with the new guidelines. Lenders are bugging right now and are requiring 20% down to do mortgages

>>19042010
Wrong

I was just approved for a 30 year FHA loan literally yesterday hence why I made the thread

>>19041921
I didn't have $150k unless I wanted to take money out of retirement accounts. As for why I got a $300k house, I had a very limited area where I could get a house.

>>19041979
No I’m saying on principle how could anyone afford anything based on your argument? Yet you yourself are saying you don’t have 150? If you’re so cocksure then you’d have that money or a plan to make it instead of relying on the jews “taxes and fees”

>>19042010
I can’t fathom why you would want to get a mortgage if you wanted to not own your property for years with any DP less than 60-70%

>>19042081
Why do you have that much for retirement saved up if you can’t even use it to get a home now? I mean the point is moot bc you do own a home now, but my gf has half her yearly salary going into an IRA but she lives with her parents and I constantly tell her “how are you supposed to save to leave if half of you money is going into an account that you won’t be able to access until you’ve saved enough on a gimped income to move out anyway?”

>>19032849
I pay like $600 a month to live in a hotel room by the month, utilities and internet inclusive. It's not fancy but it's also a hedge against the local real estate market being fucking wonky. I'd come out my ass near that much just between utilities and upkeep on even a small home where I live.

>>19041980
Are you using "can't afford" to mean going into debt or to mean it would cause one's expenses would go higher than one's income?

>>19042036
>30-year

My condolences

>>19042136
My investments are making more than what my loan interest is. The reason I put down such a high amount with that knowledge is I wanted to get a 15-year loan instead of a 30-year loan.

>>19042136
I believe they call that "dash board money" where its just a number on a screen that doesn't do anything for you but make you slightly happy.

>>19042036
I was just called buy quicken niggers 10 seconds after filling out their little questionaire. Doesn't help that I am living a NEET lifestyle with trumpbux being my only form of income ha. I guess $700 a month doesn't sound so bad for a 140k starter home, I just cant play right now

>>19042098
>saving 3 months worth of bills is the same as saving $150,000
mind = nuked how absolutely retarded you are. it is blatantly obvious youre some dumbass kid. you've already revealed your living in your dads house lmfao.

>>19042193
I mean, can’t even afford in the first place. Not enough to get into. You don’t want to be in debt either though. Inb4 you reply with “debt is good!” I swear if you bring that boomer brainwashed nonsense into this discussion I’m out /biz/ is full of unironically brainwashed boomers

>>19042184
Its not a motel is it? If it's something nice thats a pretty good play except for 1 question. Do you have any consoles, personal desktop computer, etc, or is most of the stuff the hotels stuff?

>>19042193
30 years are necessary young people buying starter homes. you can always refinance.

>>19042193
I’m saying you should have put down even MORE. Pay off your house on signing if you can afford it. You don’t want to be in even a 5 year “payment” plan. You want to OWN your property.

>>19042215
>>19042215
It’s not even my dad’s house, it’s my nanas and passed down to him. What’s your point? I’m saving responsibly until I have more than enough both to buy a house and a buffer of savings for other costs. How is that retarded?

Also, where are you getting this “3 months worth of bills” figure? When did I mention that?

>>19042237
>he types this out as lives is a debt based economy
small brain. little to know understanding that debt is the only thing that makes it possible explode economically like we have in the past 100 years. you're completely fucking retarded kid

>>19042257
No, that’s slavery

>>19042237
While it means going in debt, anyone with a job can afford a house.

>>19042257
I'm 28.

>>19042263
I'm not really concerned about the difference between "owning" and "paying for to own in 13-14 years".

>>19042335
Just because it is a debt based economy doesn’t make it a good thing lmfao, that’s why our economy was on stilts and the virus just made it crash faster. Too much of this country can’t afford shit, losing 1-2 weeks of pay is enough for people to go flat broke or get behind on payments. Debt isn’t good, go figure

>>19042306
you are leaching off your father who could sell that house or rent it out. you have absolutely NO ground to stand on. you are nothing more than a parasite

>>19042335
Debt doesn’t do shit. It enables retarded impulsive people to buy things they can’t afford on a gamble that they’ll have the money to pay it off in a set period of time. That’s the most pants on head retarded system I could ever think of instead of just having a market economy. But please, bearing that in mind, try to explain how debt is good

I'm renting until all people loose their jobs due to the Chinese virus recession.
Once they are forced to sell their properties I'll skip it up with the money I saved living in a hellhole for years.

>>19042383
My pa has less money than me, he can’t afford to not be constantly working. I need to save so I can bring wealth to this family. Maybe you don’t understand what it’s like to work or to need to lift your family out of lower middle class, but that’s not leeching, it’s called creating value. We do rent part of our house out by the way. How am I a parasite if I’m saving so I can move into a new home on my own and have my own expenses covered? How else would I be accumulating that wealth?

>>19042386
you understand debt at such a minute level it is hilarious.

im not going to spoon feed you the basics of bonds and econ 101. read a fucking book you literal shitskin

>>19042415
>my pa has less money than me
>he cant afford to not work
therefore
>i will live rent free in his mother's house and leech off of this old broken man
hahahahahha absolutely ABYSMAL. kil yourself you worthless sack of shit. your dad would be EXPONENTIALLY better off for it

>>19042422
No, explain it if it’s so correct. You clearly don’t know bc there is no explanation. Debt is BAD lmfao. Owing someone something is bad. Absolutely nigger tier take. You’re a puppet for jew and jew adjacent fucks like jim Cramer and they brainwashed you real good.

Let me guess, debt is good bc you can build your credit? What good is credit if you don’t need to take out loans on things?

>>19042448
He works hard so that I can save my money to move and support my own family. What are you not getting about this? How else would I accomplish this goal if I was paying some jew landlord rent? I’d be keeping less of my money and it would take me longer to do. I pay my own bills, I just don’t pay my own father rent? What kind of sociopath are you? Would you charge your own children rent?

>>19040415
well, we are discussing the price value of a house, not heritage value. Alas, gen z and millenials prefer more liquid assets.

>>19042521
Heritage value is keeping the house to give to your kids. It will still accumulate value, they can sell it if they wish.

>>19042458
XXYY Cruise Lines wants a fleet of cruise ships. each ship costs $500 million.
Carnival goes to bank, gets a $4bn loan @ 7% apr to be paid back over 30 years.

every month, they pay $26mn on the loan, but their cruise line generates 50mn a month in revenue. after overhead, they net $10mn a month

>b-but the risk!

fuck off pussy, risk is never zero when making millions

now go shove your keyboard up your ass you absolute fucking moron

>>19042458
Debt is good when it's used to generate money at a higher rate than the interest.

>>19042649
This is how businesses go under lmao

There’s no guarantee you’ll make that back. There’s no guaranteed return. And I’ll grant you that might be worthwhile for major corporations, but not for individuals. What do individuals need to be buying that’s so prohibitively expensive? Your model only works if you want to say be a landlord of like 5 houses at a time, and not everyone needs to do that to meet their expenses

>>19042722
When does that ever happen for individuals though?

>>19042736
>"b-but the risk"
you are so stupid it hurts. get filtered you absolute fucktard

>What do individuals need to be buying that’s so prohibitively expensive?
you specifically said "try to explain how debt is good" and got BTFO

stay stupid
stay leaching off your dad
stay nigger-tier

>>19042767
Well, I'm doing it with my house, though I do have to amend what I said. There is another situation - when the alternative to being in debt costs more than the difference between interest and money generated.

>>19042831
I asked you two questions you didn’t answer, instead you just attacked my identity. I can only assume you have no actual answer to those questions because your ideas are stupid.

There is NO guarantee those cruise lines you mentioned will make that money back. Look at coronavirus, luxury bullshit like cruise lines are going out of business and requiring bailouts because they’re already in massive debt with no annual profit. It’s a retarded way to do business if you have the capital upfront. And if you don’t...why are you starting a business?

You’re an absolute retard. In 20 years we’ll see where each of our respective savings strategies got us. I’ll be living in my own house with my kids and my dad living with me (rent free of course, who CHARGES family?) and money to invest with, and you’ll be alone in a house you bought but can’t afford to do anything but make payments on it

>>19042838
How could not being in debt cost more than being in debt? If there are external expenses, they’re always going to be a factor. Add debt to that and now you just have a balance hanging over your head constantly. And when you say money generated, what do you mean?

>>19043047
Renting vs. going in debt to get a house

>>19043161
Renting as I said above is only a worthwhile pursuit when it’s so cheap it’s not prohibitive to you saving to you know, move out.

>>19040452
Lol you fill up the bathtub with those tears? Ya prolly live in bumfuck alabama with your paperweight mcMansion cobbled together will clay and mud.

Good job at saving money and living obsolete life.

>>19043047
>How could not being in debt cost more than being in debt

Opportunity cost. If you have to save up 300k in cash to buy a house then that means you have to 300k sitting in a savings account generating very little interest. If you use 50k of that to secure a 30 year loan and invest the rest of the 250k as you earn it then you generate more money than you will paid in interest. The TIME it takes to save the money can you cost money because you could be missing out on opportunities.

You're taken the Ramsey pill, which isn't necessarily bad, but bear in that his mind advice is for risk-averse normals who are dumb enough to rack up $20,000 in credit card debt and $40,000 in vehicle loans. Debt is bad, if you can't afford it. If you're smart, it's called leverage.

>>19032655
What a low IQ brainlet way of looking at it.

>https://www.youtube.com/watch?v=Uwl3-jBNEd4

>>19042036
Whats your intrest rate on 30 years and how much are you paying in insurance and property taxes?

>>19043236
Indeed, which is why my decision to go into debt to get a house instead of rent is and will end as a good one.

>>19032683

>believe you me, goy, you do NOT want to own a home! i spend tens of thousand of dollars every year maintaining my properties! it's best to let me handle that, now here is a brochure for one of my apartments -- maintenance included, only $1500/month increasing 3% a year with first month, last month, and two months security deposit up front!
>t. schlomo zogberg, landlord

>>19032655
ITT - seething poorfaag rentcucks vs the chad homeowner

>>19042567
it only creates more friction. Your kids will likely see it as a burden to be dealt with. For example, i have to pay thousands for my grandfather succession papers (he did not leave a will) and looking for the original lawyer took months. My mothers house has been declared as an empty land for years, now i have to arrange with an architect to make new legal blueprints and pay for taxes retroactively, dont want to think about if anything happens to her.
Not saying you would make the same mistakes as my boomer parents, but mistakes any normal inexperienced person would do.

In my city renting a room in shared accommodation is cheaper than the mortgage/insurance/fees/maintenance on a 2 bedroom house.

>>19043250
I understand what you’re saying. If I pay a smaller fraction of that balance over 30 years then I’m earning my yearly salary while paying that fraction, right? But here’s the thing. 1) interest means you’ll always be paying more than the price of the house, which is bad 2) if you CAN afford to buy the house at 300k outright and have money left over now you only have to worry about utilities and property tax instead of utilities, property tax, and a mortgage. Less cost is always best. But we’re talking about a period of 30 years where If you fuck up for any reason (these days fucking up is as simple as wrongthink) you can lose your job and now the bank is for sure going to want to cancel that mortgage and buy you out of your home, or force you to sell it and keep most of it. I know because it happened to my folks.

The time is the biggest crutch to me. If I was to subscribe to what you’ve described here, I’d do it for maybe 5 years tops. Pay the last 20% of a home off while my salary offsets the cost, but what’s the point if you can buy it outright?

And that’s the problem with renting (which this thread is about) suppose you’re not fortunate to have a loving family like me that allows you to save, now you’re renting and losing even more income to the extent that you’d pretty much have to take ANY loan you can get if you want a house (which you shouldn’t do at that point)

This whole system is fucked and troll retards like that green ID just think they’re smart for listening to their kik pundit puppet masters

>>19043250
Correct me if I’m wrong but doesn’t leverage imply that it gives you power? What leverage do you have against the loan payer, exactly?

>>19043441
Well that’s not you or your parents fault, it’s the systems fault. They left you a house. That’s a great inheritance. Just because they couldn’t pay or didn’t know they were supposed to for a specifically notarized will doesn’t mean it’s bad to get a home. Why should a will and testament cost so much? What’s stopping them from writing their will on loose leaf paper and getting it notarized? That’s extremely exploitative of jew banks.

As for your mom, I don’t even get why that ends up that way. Why was her house declared as empty land?

>>19043242
S E E T H E

>>19043630
>>19043664
>>19043721
JFC take your fucking benzos and get off the internet holy fuck

>>19032655
There is literally no such thing as home ownership. You still have to pay your yearly rent to the government, and when you add that on top of the expenses for things that a landlord would have taken care of for you in an apartment, you're basically still just paying rent.

>>19043250
>If you're smart, it's called leverage.
>said the banker trying to sell product by blowing smoke up the ass of the terminal goyim with the hubris to actually believe it

>>19032699
>niggers move in next door
Is there a greater death sentence for any piece of property

>>19042415
>family out of lower middle class
No way you fucking niggers make 45k plus.

>>19043773
Bro, you mad? Do you have an argument you want to make?

>>19043788
That’s what I’m saying. You end up paying (((property))) and (((school))) (even if you don’t have any children enrolled in the local school sytem) taxes. You might as well own the property you have if you’re going to end up paying an installment to keep your right to a home. Taxation is theft and any argument otherwise is a justification of theft, there’s simply no other way to put it.

>>19043910
Yeah, we don’t. We’re white tho. Pa has no college degree, he does physical work. I have a degree, but I just graduated before corona hit so I’m home from my “essential job” at a supermarket bc of the health risks, and My job search is paused now. You’ll troll and you’ll laugh and say omg you’re so poor but the point is I know I’m the first male in my family to go to college in like two generations I’m trying to do what America was supposed to do, move my family along up along the socioeconomic ladder. Why hate on that?

>>19043788
this is the most retarded argument around. you do realize your landlord is still paying property taxes and home maintenance, right? and on top of passing the cost on to you, he's applying a profit margin to the cost before he passes it on to you.

ALL WOMEN ARE WHORES

>>19044067
This.

>>19043721
its not its cost, but the mere action of doing it. A lot of old people has horrible relationships with their children or just dont want to write the fucking thing. To properly and legally inherit an asset without an explicit testament is its own judicial process that takes a lawyer, a judge, a notary and a minimum investigation.
The amount of time and money dumped into just bureaucracy is just too much. My mother built a house in her 20s and no one told her to "finish its papers" up until she wanted to sell it 20 years later. Again, its not that im against the idea of owning a house, but the idea of having one as a primordial asset. There's a lot of awful problems that comes off selling your parents place, and it increases exponentially the more successful and the more relatives you have.

>>19032847
glad someone caught it.

>>19044064
wait wait wait.... you work at a fucking super market and you're out here giving financial advice? hahahahahahahha no fucking way. you have absolutely ZERO real world experience. fresh out of school, no career, living in dad's house rent free lmfao

>>19044355
..having one as a primordial asset as a general rule of thumb for the ordinary man**

>>19041402
glad someone caught it.

>>19044410
Called it. Nothing but trolling. You only need logic to give advice, friend.

>>19044355
Wow, it’s almost like the system sets up Bureaucratic red tape to price people out of their estate entitlements. That’s fucked though. You shouldn’t have to jump through hoops to give your estate to your kids. I would think what you’re describing exists if a distant uncle bequeaths a mansion to you out of nowhere, but for your own parents? That’s fucked up and clearly (((designed))) for a reason. God we need revolution. This clown system can’t stand.

>>19038173
get a hold of this boomer lmao
careful, there's a virus going around gramps

>>19045029
Inb4 he calls it a hoax

>>19034919