/biz/ - Business & Finance

Millennials are lazy and expect everything to be free

>>19324586
Millennial here. Bought my first property in a major European capital mortgage free last year.


Feels good bro

>>19324600
In Minecraft it is so why not

>>19324586
Why are these property taxes so high? What the fuck is going on in Fort Worth?

>>19324586
>California or anywhere Californians move inflates that market

W O W

>>19324586
This house sold for $35k in 1971. It's now for sale at $7.75 million. What the fuck is wrong with the world?

https://www.realtor.com/realestateandhomes-detail/27112-Malibu-Cove-Colony-Dr_Malibu_CA_90265_M27726-02863?view=qv

Young people... buy a co op instead of renting and sell for a house later on.

>>19324744
More population dummy, more desire, more money in circulation.. oh wait this is biz and I am trying to speak in logical terms

Just don't buy overpriced houses
Find somewhere where houses are affordable and buy one of those
Easy

Q Why Aren't Millennials Buying Houses?
A Because they dont have money

>>19324744
concentration of wealth, population explosion, availability of cheap debt, fetishization of california dreamin' beach life. COVID19 was unironically the one chance we had at hitting the reset button but we blew it.

>>19324803
Are you one of those retarded Millennials that thinks if they buy a house today that it's going to appreciate 15-20x by the time you retire like it did for your parents?

>>19324836
No, this is what happens when you sell out to Chinks that are trying to hide sweatshop money.

Boomer faggots are trying to suppress the Work-From-Home movement because they know it will cause their urban cosmopolitan shitshaks value to implode

>>19324852
No but I am one of those millenials today who watched his older brother and his non white wife sink 100k into a shack in LA they will never own...and that is just the last 4.5years. I am going the buying route thanks champ

>>19324868
very good point, can't believe i forgot that. anyone who sells american real estate to subhuman dirty money chinks deserves to be stripped of their citizenship, tortured daily, and worked to death in a gulag.

I've been looking to buy a house for over a year now. In the last year I have seen prices skyrocket going from $250k for a decent 3/2 house to over $400k for the same house.

No major population increase, in fact real wages for my area has declined.

My wife and I moved in with my parents about 6 months ago to save more money and I feel completely stuck. It's really a shitty situation.

I genuinely do not know what to do here. I've been thinking a RE collapse was coming since later 2016 but prices have continued higher. Should I buy what I KNOW is an overpriced property? Keep waiting? Feel like my life is on hold while we live at my parents.

>>19324852
What makes you think prices won't continue to inflate? Immigration won't stop in the west. Japan's asset prices still haven't recovered because they don't have replacement birth rate + mass immigration. Ours will still go up because they'll never end mass immigration.

>>19324931
ouch
no good option, no way out
should have bought in the past, now the future is very uncertain

I had at least one person so far cold text me out of nowhere asking about my house. it's getting wild out there, mania and frenzy soon.

>>19324931
That's called death of the middle class and serfdom. So many people will be priced out of homes.

>>19324586
currently saving and flipping the market for 20% down. when my lease is up end of this year I'll get something. pretty excited desu senpai

>>19324600
Boomers had everything handed to them.

I understand 2008 led to a massive decline in new home construction, but why hasn't it picked up since then? you think there would be more construction companies capitalizing on over-inflated home values.

>>19324651
No state income tax in TX. They find other ways to get revenue. Their sales tax is on par with NY I think. Haven't lived there in almost 20 years.

>>19324869
God I fucking hope so. Cities stress me the fuck out, I just want a small home with distant neighbors I only have to leave in emergencies.

OK BOOMERS

>>19324919
Or the government could just fucking man up and limit foreign buying. But they won’t. Mexico didn’t allow foreign land purchase for most of its history, it’s been done. Obviously the powers that be see way more angles than we do but what is the advantage of allowing Chinese to buy up property at this rate?

>>19325059
that's a good question
most construction is in expensive homes or apartment buildings
it's basically impossible to build inexpensive, modest single family homes (in the 100s-200s) anywhere and make any money off of them, for the real estate developer. They might as well just build McMansions or apartment buildings, so that's what they've been doing.

>>19325099

>>19325216
I can understand that in cities where there isn't a lot of land can't be easily developed, but suburbs and rural communities still have affordable land that can be developed. Where I live (flyover country) you can find a home built within the last 5 years for around 250-300K

>>19325216
>most construction is in expensive homes or apartment buildings
i live in a pretty high COL suburban area (suburbs of philadelphia) and it's amusing how many developments are built every fucking year. if you drive by an undeveloped tract of land adjacent to an existing development, there's at least a 75% chance it will be clear cut and bulldozed for some TOLL BROTHERS monstrosity within the next year. poorly build clusters of boomer shitshack mansions with 0.1 acre lawns or, worse yet, townhomes stacked on top of one another, $400k minimum.

i fantasize about dressing in all black and burning them down at night.

>>19324586
Inability to understand the power of financial leverage. Look at historical SAT rates, the youth getting more and more retarded. Ask any millennial, “I don’t have $300k to buy a house!” Well retard, take out an FHA loan at 96% LTV, write off your mortgage interest and any capex on the property. Suddenly that $300k house only cost you $12k to get into and my monthly mortgage payment is near or lower than my rent payments would be, seeing as rates are at historical lows. Simply put, millennials are more concerned about social status than navigating finances.

>>19325394
that sounds nice. Where I live, the cheapest prices for new homes that I see advertised are high 300s for townhomes. That's just how it is.

>>19325446
>i fantasize about dressing in all black and burning them down at night.
supply down, demand up... then you'll see prices in the 500s
if you want cheaper prices, you want less demand (fewer humans), with the the number of houses staying the same or increasing.

>>19325040
that's a huge-ass keyboard

>>19325453
>Country becomes less White
>SAT scores plummet.
It's a mystery, I know.

>>19325453
300k for a house is only possible in the hood.

>>19325243
whites are to jews as blacks are to whites
IQ hierarchy mirrors enslavement pyramid

Millennials need to redefine what their definition of a "home" is (especially you single lads). See you in a few years when you are renting my manufactured unit, I will be good to you.

>>19325453
>Suddenly that $300k house only cost you $12k to get into
so you just end up not paying the other $288,000? am i missing something?

>>19324852
That very picture shows that if you put 200k into a house only 5 years ago you could have walked away with 750k today.

>>19324586
Do you seriously have to pay almost 15k a year to have the privilege of owning this property.

Their P/E ratio is 1000

>>19325654
yes, and just wait until local government (((reappraises))) it and your taxes skyrocket overnight without recourse.

>>19325654
yes. You're paying for the privilege of not living near poor people, and sending your kids to a decent school. If you have 3-4 kids, paying 14k/year to the school district (which is where most of the property taxes go) isn't a bad deal at all. The other money goes to fire/police/park services, that kind of thing.
If you don't have kids, it isn't as good of a deal.

>>19325709
Think about that next time you compare US net wages to European net wages lmao

>>19325738
Fuck imagine living in Europe. I’d probably just off myself

>>19324586
14k fucking property tax a year??? what the fuck

>>19325709
$14k/yr adjusted inflation for 50 years of home ownership is $700k. you're delusional if you think sending your kids to a """good school""" for 12 years and paying pigs $80k/yr to harass the populace is a good use of your money.

>>19324586
This generation defines itself in opposition to their parents' values: steady career, traditional marriage and possesion accumulation.
They trade possesions, such as houses, for travels and adventures. They prefer to be wealthy of experiences instead of physical assets.
To carpe diem and catch one's dreams is their motto. That's the mentality of a unique snowflake.
You can't brag about buying house on facebook and not risk accusation of "shallow materialism".

>>19325200
>limit foreign buying
>prices crash because demand reduces significantly
>every American citizen who has bought a house previously is now fucked
Most people consider their house a significant part of their retirement nest egg. By lowering housing prices you take this away and it’s a net negative. You don’t need to own a house to plan for retirement but if you already own one and are hundreds of thousands of dollars deep and are planning on that returning a profit, then what is the lesser evil? Keeping prices high allows older generations to retire peacefully and younger generations to plan accordingly to retire peacefully. Lowering prices fucks the older generation.

Any measure the government takes would have to be coupled with buying people out of their properties and current fair market value and then selling the houses to younger people for pennies on the dollar which of course would lead to insane inflation which is bad for everyone.

There is no winning. What needs to happen is that we actually get the the point where very few people can afford to buy anything and then a whole generation starts dying off and the market is flooded with supply thus driving down prices. This won’t happen in our lifetime, because plenty of 20 year olds make $150k+/year and have no problem spending $1MM on a home.

>>19325763
I'm not suggesting that you live in that home for the next 50 years.
Also it's silly to imply that the property taxes aren't going to change over 50 years; they will probably go up. But the value of the house will also probably go up.
If you want to buy a cheaper house with lower taxes, you can do that. It's nice that there is variety for different people to be able to spend what they want to get different levels of housing.

>>19325766
I bought a house a few years ago and I never posted on facebook about it. I'd guess that at least half of millenials would identify more with the former set of values that you mentioned. Of course, it isn't healthy that the other half has the latter set of values and spends all of their money on bacon-avacado coffees, but what can you do.

>>19325795
>Most people consider their house a significant part of their retirement nest egg.
You want to irreversibly destroy white nations so boomers can live their golden days rich and fat?
They deserve to lose their property value and get corona and die for what they did to our future. Why would they deserve to make stupid amounts of money on what they got for cheap? You might lose money on stocks, why would real estate be a fool proof investment that only ever goes up? Boomers are a cancer.

>>19324600
this is bait.

>>19324836
80% of the causes are just cheap debt. Banks just create money out of nothing. Take that away from them then everything deflates

>>19325766
Why would we work 10 times as hard for what the Boomers worked for if we aren't going to get back 10 times the return on our investment? Makes no sense.

>>19324911
>I am going the buying route thanks champ

im going the "continue living at home until my parents die, then i inherit their money and house on top of the massive amounts of money i've been able to save by living at home" route. so far it's pretty fucking comfy. i know not everyone has a great relationship with their parents though.

>>19324586
They are. you're just poor. If you want to actually own a house in the next 5 years, just buy some AAVE and wait until you have enough for a house, sell, and cash out.

>>19325922
I am living at home right now but I also have 50% downpayment on the place I want, not inheritance. So take that projection and stick it in your backpocket

>>19325795
>This won’t happen in our lifetime, because plenty of 20 year olds make $150k+/year and have no problem spending $1MM on a home.
I can't tell if this is sarcasm, or if you're serious.

>>19325531
But the poor will could be forced to move elsewhere if you hold onto the house for a few years.

>>19325059
Boomers fear that new developments in high demand areas will hurt the price of existing properties, so they continue to oppose new developments.

>>19325614
This is your down payment. Your monthly payments build equity in ownership and seeing as borrowers can get sub 400 point rates at today’s historical lows, most mortgage payments can actually be cheaper than rent payments and you’re simultaneously building equity

>>19324869
>>19325099
is the "Work From Home Movement" actually a thing now? i really want that lifestyle, im currently enjoying this whole quarantine covid shit so much, i wish i could just do this my whole life. what sort of progress is being made, if any? how legit is this sort of thing long-term?

>>19324586
> not gonna participate in this boomer shitfest
In the last several years, costs for everyday living haven't risen that much except for rent.
The money of boomers is being pumped into real estate markets since government bonds return fell. They expect this giant bubble to continue forever but it will fucking explode.
Banks gave us cheap money and everybody went out to take loans. Covid 19 will fuck us so hard in the butt that a lot of people will go bankrupt

>>19324651
Basically there's almost always a tradeoff somewhere. Texas no no state income tax, but they have high property tax and also IIRC pretty high sales tax too.

Alternatively you can live in a place like NY or NJ where you have high income tax, high sales tax, ANd high property tax and get completely fucked from every direction.

>>19324806
Here's how this works with housing:
>affordable
>near jobs
>not surrounded by niggers
you can pick a maximum of two

>>19325709
"good schools" is just a code-word for not living around niggers

>>19326065
Technically businesses can prosper from it by not having to pay absurd amounts on renting office space

But then as a result your company ends up pissing off a bunch of rich Manhattan landlord dynasties and they order the rest of the companies they are getting rent from to not associate with you on pain of eviction or rent increase.

>>19326186
hey, while we're on the subject: what would you guys say is the best state to retire in if you want to live minimalistically and have as low of a cost of living as possible? i've been assuming somewhere in the midwest, like one of those small christian towns where kids always want to move out of there to NY or CA. i mostly just want to hang out in my house all day on the computer, i don't need much and could probably supplement food by hunting/fishing/gardening/etc. where do i go if i want to reduce yearly expenses as much as possible?

>>19326265
companies benefit from paying less rent and also paying their employees less on a cost of living adjusted basis. Employees benefit from increased quality of life, more affordable housing, no commutes, more comfortable work environment, etc. It's a win-win. Only people who lose are (((bankers))) and landlords in overpriced shitholes like SF.

We've already seen Twitter and other tech giants say they're going to offer 100% WFH going forward. That's a trend that's only going to accelerate. I'd suggest investing in Zoom, Microsoft, Slack, and others who make software that enables WFH

I work for an online education company so physical presence isn't really needed. We transitioned the whole company to WFH pretty seamlessly and haven't missed a beat. My guess is that after the corona-nonsense ends we're never going back to 100% in-office.

>>19326065
Yes the work from india movement is a thing. You millennials better man up and buy a property quick or you will be homeless

>>19326223
actually you can choose all 3 if you take the hidden option of sweat equity. my parents bought a house in the "old part" of the neighborhood i live in, a place full of jews in $800k+ houses, we got ours for like $250k and still get some of the best schools in the state. that was almost 20 years ago and now our house is worth double. the jews keep out the niggers, it's pretty kino.

>>19324869
> Boomer plans:
> kids, you gotta give me money for you heritage. I want 'to live now'
> I buy a house way too large and once I am old I'll just sell it with huge profit to some stupid millenial and retire
> Bigger cars are better for obvious reasons
> Work from home is for pussies
> I don't understand bitcoin, it has no value

Once distributed working from home kicks in real estate bubbbles will explode leaving millions of boomers in debt or broke

>>19325949
Before the US dropped the gold standard the average price of a home was close to what a high school graduate earned in one year.

>>19326305
Buy a cheap place in Oregon and you can live for $20 a day, get free snap and medicaid.

>>19326305
Nevada, Florida... any state with low COL, lots of land, warm weather, and zero state income tax.

I moved from CA to FL last year, and between the lower rent, cheaper COL, and no state tax, it's like getting a $1000 a month raise.

>>19326356

>>19325879
You’re putting words in my mouth but I’ll play devils advocate anyway. 1) it’s not only boomers who own real estate. 2) destroying boomers financial situation will have a trickle down effect that ultimately destroys everyone’s financial situation. 3) housing really should only ever go up. As more people (demand) exist and supply is more and more limited, prices go up. This is the natural state of a capitalist market. You can get perfectly affordable homes in areas where no one wants to live, like $10k or less. Desirable real estate will always go up in value because it is difficult to get and a lot of people want it. If that doesn’t make sense to you I don’t know what will.

>>19325971
It was more exaggeration for effect. My point really being there are plenty of new buyers who can afford high priced real estate, which is why people can charge those prices to begin with. Where I live real estate has increased nearly 300% over the last 10 years and the people coming in to buy stuff at these insane prices aren’t old, they are young couples who do well for themselves. It’s the old people who are selling to them because they never imaged their houses would be worth what they are. Demand continues to rise and most houses go to bidding wars.

>>19326385
And our we building enough homes for every single high school grad in 2020? Is your brain functioning properly?

>>19326391
>>19326394
i live in MA currently, anywhere i can move that has a similar climate? Nevada is a fucking desert and Florida Man scares me. i prefer snow over heat tbhwy, how's Maine in your opinions? Oregon might be similar to what im looking for even though i hear it's full of the worst kinds of SJW faggots.

im mostly trying to figure out how much money i need to have saved up before i can retire. obviously the cheaper the cost of living, the lower that number will be. i wanted to build something along the lines of an EarthShip (or better) so i could also reduce the cost of electricity and heating/cooling as much as possible too.

>>19326385
So you think the price of real estate is mostly determined by one factor...?

>>19325949
This. Not everyone can make it. Imagine not owning the next MKR. I almost got enough AAVE to afford a house by 2023.

>>19326523
People from MA are the worst. Everyone hates you. Stay in your own shithole.

>>19324586
https://youtu.be/3GBNLCWw78o
> be software engineer at shitforce
> earn shitload of money even as full time intern
> can't even pay for a place for my own, have to share it with another dude
How can someone be so cucked?

>>19324744
Imagine wanting to live so close to erosion that you put your house on legs and pray it doesn't wash away, and your idea of a good time is going down the steps onto a beach with a view of the undercarriage of your house.

>>19326223
I got all three
:D
the only issue is that my yard is huge, super annoying to mow for 90+ minutes twice a week all summer

>>19326255
it's not false

>>19326622
hire a mexican for $5 an hour to do it for you

>>19326610
They at least provide shade for my friends and I to smoke weed under while we enjoy the sun and sand. Imagine paying millions of bucaroos for that precarious setup but still not rich enough to keep out public access :^)

>>19324586
>It's another "Why aren't millenials _____?" thread.

>>19326634
I haven't tried to price out lawnmowing services but I thing it's a bit more than that.
you have to pay them to drive to your house with their mowers and then mow it.
It's not like I have an ample supply of mexicans living next door to me or something

>>19326515
Whose fault is that?

>>19326655
Why cant millennials learn how to do things that everyone who came before them could do? Like procreate, learn to drive, talk to people, buy a house, get a job? Cook? Know the difference between men and females?

>>19326579
There was a story about a guy who worked at one of these companies that was living in a van in a parking lot to save money and they somehow forced him to stop because he was gaming the system

>>19326379
Fuck I hope so.

The median house price for my city is $1.1 million AUD ($720k USD). 1 bedroom apartments are $600k.

>>19326684
It's not a fault it is a reality. Maybe you should stop thinking that getting a simple GED or diploma warrants you a house in 2020. It certainly didn't in 1990 or 1980. Learn how generations transfer wealth because you sound like a whiny bitchboi

>>19326704
They aren't very smart you can get a job at home depot as a greeter in most towns and afford a house and family

>>19326752
It's the fault of parasite retards like you who are speculating on the price of shelter and actively try to restrict supply. If there were no gay regulations everywhere and boomers didn't invest their life savings into a liability under the impression that it's an asset, it would go back to normal and supply would equal demand.

>>19326800
this

>>19326800
It's my fault for wanting to buy a house restricting you from buying a house? Get s job you whiny. broke. faggy. bitchboi.

>>19326800
Haha you will always be poor as you wait around for your magical free houses

>>19326571
what's your problem?

>>19325537
Ah yes, IQ means everything.

>>19326800
dubs of truth

>>19326656
I ran a lawn mowing business a few years ago and I would charge $40/hr. Lets assume that the person asks for 20. That's $40/week, for, lets say, 5 months. That's 800 bucks for the year. Meanwhile you can pick up either a roomba automatic lawnmower for $1000, or a full blow riding mower for around the same price.

>>19326823
>>19326883
Nothing about that is true and you are stupid for agreeing. How do you expect the supply to meet the demand without two things happening first 1) boomers dying en mass 2) boomers and older being forcibly removed from their current place. It's as if you don't understand the most basic principle of business

>>19326937
Both of those sound good to me

>>19326912
there are some guys that already mow the grass of the car dealership right next to me. I was thinking I could get a good deal if I talked to them; once they already have driven over and mowed that, it would only take them another 5 minutes or so to do my lawn.
But I don't hate it, and my mower is still running for now

>>19326019
So the solution is to just wait for them to die, lol.

In the mean time, I'll probably stay with my parents. Maybe even contribute some upkeep so it's value can go up too.

>>19326937
It really doesn't matter since millennials have no savings no job no ability to change a lightbulb even if someone gave them a free house it would be destroyed in a few months as they pee on the carpets and light their beds on fire

>>19326960
You and all your loser mcdonalds cohorts who post on reddit I am sure. That's why I am getting property and charging you premium for your stupidity. You will have to call me m'lord or live in the gutter you like the rat you are

>>19326999
Good luck collecting rent when nobody is working, I'm sure the bank will be forgiving of all the debt you owe.

>>19327024
People owe more debt on a tsla then I am asking the bank for. And you will be crying ten years from now how I was so lucky to get prop when I did and I am the evil boomer landlord. I can't fucking wait to be honest

>>19327075
More likely that people just move to low COL areas because they can work remote and whatever scheme you dreamed up becomes a money sink instead of the retarded power fantasy it is right now.

Because millennials are retarded. They would rather watch avocado toast and Starbucks and reddit memorabilia than save their money to buy a house

>>19326999
>>19327075
>w-why does gen z and younger want us dead??? It just doesn't make any sense!
Settle down boomer. As anon previously said if regulations weren't so god awful pandering to you old fucks we wouldn't be in this situation.

>another millennials complaining about millennials thread.

>>19327103
Or population rise doesn't magically reverse itself, historical trends don't change that I live in the most desirable state on planet earth, I continue to have affordable (for me) housing and a long term hodl that isn't cryptoshit. Did I capture that about right?

>>19325709
Crazy how you have to pay a premium to not live near crime races and nobody seems to give a shit or ask why

>>19324586
The real test of intelligence (that boomers and boomer minis fail) is the non highlighted box.

>my home value went up 200k since I moved in!
How long ago and how much do you pay in taxes?
>Idk like a decade and 21k, I'm heckin rich! Going to go book a cruise 2 years from now and talk about it constantly until then!


A plague in human-like form.

>>19324803
DO YOU KNOW HOW MANY EMPTY HOUSES THERE ARE ????!!

>>19327202
>Or population rise doesn't magically reverse itself, historical trends don't change that I live in the most desirable state on planet earth, I continue to have affordable (for me) housing and a long term hodl that isn't cryptoshit. Did I capture that about right?
Where do you own property that you're talking about this like a bond villain?

>>19326800
Why blame the homeowners? They didn't create the incentive. You faggots always sit there and whine about your fucking landlords and local real estate speculators and not the banking system that created the problem and the politicians that flood your cities with Chinese investors and immigrant competition for rental housing

>>19327218
Go buy one then.... .....


...........


........

>>19327208
No you pay a premium to live close to refugee food and ample gay sex and shopping . Once you give that up it's easy to find a cheap place to live

>>19327211
If you got a job you could consume too

>>19327274
Everyone has an interest in it, look at that other boomer ITT, do you think he's mad about CCP money or immigrants? No he loves ruining his country as long as his property value ticks up a few thousand.

>>19327288
BRO YOU SHITTING ME PAYING THAT MUCH FOR A USED UP HOME THAT'S HAD MORE PEOPLE IN IT THAN A CHEAP CORNER HOOKER IN THE INNER CITY?
FUCK YOU BRO GIVE ME A PENSION, GIVE ME ECONOMIC FREEDOM, GIVE ME FUCKING LIBERTY OR GIVE ME DEATH

>>19327218
>The U.S. Census Bureau has released its American Community Survey for 2018. Among the items the government agency measures are housing units. There are 138,539,906 in the United States. Of those, 17,019,726 homes are vacant. The number is staggering, and it approaches the number of people who live in the New York City metro area, which includes the nearby cities in New York, New Jersey and Connecticut.

>>19327315
Ok faggot

>>19327349
>wtf why is nobody renting out my second mcmansion

>>19326579
I've never understood the mindset of people living in san francisco. Even if you end up with a well-paying job, your cost of living is so high that you still wind up having the same standard of living as someone making 1/3rd your income elsewhere in the country. Of course, many of these people are FOB chinks and pajeets who have zero standards and are perfectly fine living as a dozen people sharing a shoebox apartment while doing codemonkey shit at jewgle.

>>19327325
And millennials love ruining the country by not working and demanding that brown immigrants make their avocado toast. If you got a job Jose would go home and you could afford a house . Why dont you get a job?

>>19327258
Plans to buy property* and in the most desirable state on planet earth if you don't know why should I tell you
>>19327329
>inner city
Stop trying to act like my brilliant plan is brilliant when it is. I have thought of every possible angle before you can imagine it in your baaaaaasedyyy scream. You will have to call m'lord someday and I will paint your room whatever color I wish

>>19327325
All they know is 'green line go up'

Instead of screaming at your dad owning 3 rental properties why don't you scream at your politicians and the banking system?

>>19327411
>Plans to buy property* and in the most desirable state on planet earth if you don't know why should I tell you
So you're not even propertied, you're just larping lmao

>>19327349
What's your point? Millennials dont want to buy a house and us boomers aren't going to give up what we worked for. Oh well paco and chang dont mind working and they can rent from us

>>19327436
Shitty bait, shitty false flag. Kys chapocel LARPer

>>19327403
the way it was explained to me, is that in CA pretty much all of your money goes to paying the rent but then you get to go out and easily afford 5 star restaurants right next door and shit like that. the reverse of living in the midwest with a big house but there's nothing to do and you eat at home for the most part.

>>19327404
I'm 25, I have a job middle class job and a brokerage account with tens of thousands in it. I save at least half my paycheque. Why do you assume I'm some kind of degenerate because I'm not sucking the cock of people who speculate on shelter?
>>19327420
Too many people benefit from it - not going to learn until they personally get burned by the system.

>>19327423
I never said I owned it ever retard if you can see past your onions glasses many posts back I said I was in the plans to finance prop, didn't say i had it right this second.
>larp
See you when you sign the renters agreement that i can terminate at will

>>19327451
It always comes down to avocado toast for you millennial retards like that's all you care about instead of owning a nicy comfy home or three

>>19327454
You are speculating on rentals, wasting all your $$$ because you are scared. Property ownership is a sure thing but you gambling with landlordism

>>19327468
>See you when you sign the renters agreement that i can terminate at will
Cute how you think it's that simple. I'll give you an example with my apartment lease. Despite making a good income and not qualifying for any government assistance my rental unit is under rent control due to the age of the building. I locked in a 2 bedroom apartment at $1050 and 5 years later my rent is only $1111.12. That's less than half the market rate for a new rental. The landlord can't remove me as long as I pay, and can't substantially raise my rent without significantly upgrading the property. And if he sells the building to be redeveloped, I get a rental unit in the new building at the rental price pro-rated down to what I was paying before and in the meantime the owner has to acquire me a rental in another building, which will cost him substantially more that he collects from me monthly.

>>19327211
how much do you pay in rent?
you realize that part of your rent is property tax payments as well, right?

>>19327582
Blah blah blah.. guess what faggot there is no rent control on the property I want... that means I CONTROL the rent. If someone wants to be cool they can have a sweet place for long term dealio. If I get a whiff and I mean even a little scent that they are a faggot like you? They will be paying top dollar and then some. Or they can live.... idk? By this time in the future I imagine housing to be pretty difficult to come by now that McDonald's isn't even hiring. Glad I got in when I did :^)

>>19324744
Just wait until the credit bubble pops. The entire financial industry will go to zero.

>>19327773
Not gonna happen you will always be a renter on the verge of homelessness

>>19327651
It's far more likely that rents will go down and control over rentals will go up if everyone's on welfare. Landlords have cumbrains from all these power fantasies they cook up in their head.

>I'll just fucking evict you reeee
Lmao if you buy a rental property thinking it's that simple.

>>19326702
Speaking as a millennial:

>talk to people, procreate
Internet+automation removing the need for everyday social interactions. I wish I could get better at the first and achieve the latter but it will require a gargantuan effort and I can't shake the feeling I'm too far behind for it to be worth it.

> learn to drive, buy a house
Cars and houses cost money, and most of us don't have much. Speaking for myself, I own a car, know how to drive, and could probably afford a mortgage down payment if I sold off all my stocks, but I have a decent paying job. Being involved in interviewing for entry-level hires at my company, I see a lot of people my age or slightly older who basically were in a holding pattern in their early 20's due to being fucked over economically. Millennial being poor isn't a meme.

> Cook
That's fucking easy and overrated. Now, cooking restaurant-quality food is harder, but looking at the mid-tier recipes of the previous generation I think that's an unrealistic bar to set for the point you're trying to make.

>Trans stuff
Who cares, I for one would only date/marry a biological woman but if someone else wants to do something different it's no skin off my back. Boomer-tier culture wars only distract from actual economic policy issues.

>>19327867
You keep thinking you know my plans. I didn't say it was solely a rental property did I? Your brain is so small no wonder you have no money and people talking about homeownership sound like people who say they invented fire. Go back to sleep caveman

>>19327867
Just keep paying your landlord I'm sure the government will protect you from yourself

>>19327911
What is your master plan to rent out a duplex and charge them twice the market rate for the privilege of having their retard power-tripping landlord live next to them?
>>19327916
I will, he's a permanent bag-holder like I described above.

>>19327943
Yeah your landlord is holding your bags of money

>>19327986
He's certainly paying for my monero mining rig

>>19327943
>that thing that worked for the boomers cushy easy life totally won't work for anon's plans because I am jealous and missed out
Yes

>>19328047
Yeah so you're hoping one unit in a duplex is going to cover your all-in costs. In for a rude awakening. If you wanted to do that you should get a Quad or Triplex at a minimum.

>>19324931
Man that’s rough to hear. 400k house is only 2.5k something in mortgage a month. You need to come up with a way to make that between the two of you, it should be possible. It’s 80k in mortgage, that might sound like a lot but you can make it. Don’t do anything stupid but work hard and you can have that in 1-2 years. Go do something, anything to get positive cash flow.

>>19328078
Again thinking you know things you don't know. I wouldn't do that for you. That's what got you this far already

>>19326752
if mortgages didn't exist everyone could afford a house.

>>19328107
>You don't know my genius plan of charging twice the market rate for my shitty property hahahahaha
I mean go ahead dude, try it. I know all this shit because my family are all in construction, engineering, architecture, realty, etc. A duplex never covers both units, it covers your unrecoverable costs. You're still forced to cover the equity.

>>19328150
>duplex
Stop using there poor people terms I already guessed your family was construction or coal miners or whatever

>>19328264
Grandfather owned a cement factory/concrete forming business and a homebuilding business. Children are engineers/realtors/architects/foremen

take a graph that has average income, and average house price with percentage of homeowners. there is a corralation between all three lines. so what you should be asking is why have home prices increased so much higher than incomes. the answer is globalization.

>>19328544
Millennials refuse to get jobs so we have to import Mexicans

>>19324803
but there isnt a population among native americans. the only reason the population is increasing is due to foreign invaders. that added with foreign buyers in the home market makes it a sellers market.

>>19324836
>>19324803
but there isnt a population among native americans. the only reason the population is increasing is due to foreign invaders. that added with foreign buyers in the home market makes it a sellers market.

Buying is such a boomer concept, us millennials prefer sharing

>>19324972
there are alot of people eith guns that say the foreign invasion will stop.

in addition to this is the economic pressure. the foreign invaders are only here to make money. as the costs go up and the income remains stagnant they will realize their home country is a better place economically.

i would say the third world already has economic advantages. cheap university education. entry level work that hires people without experience. can afford a home and family on average wage jobs.

>>19328952
Homes aren't expensive in the usa millennials are too lazy to get a job and too drug addicted to save money

>>19325755
what's so bad?
In Poland you can live a normal life on the annual tax just paid on that house.
There's no property tax on residential houses (just a trivial amount per land area - like a 90 sq metre apartment in a city is going to cost up about $50 in annual tax).
Extremely low crime, close to zero minorities.
Fast fiber internet (I pay ~$30/month for 1gbps nonmetered).
Everything is walking distance (in a city). I can walk in less than 10 minutes to almost everything, from grocery shop, vet, dentist, pizza place, supermarket, small clinic, shoemaker, tailor, barber (several)
There are no ghettos and not really any poor dangerous parts of town.
You can live on $10k/year in a 90sq metre apartment in a city.

>>19329135
Yeah the whole burden of society here is on boomers and early gen x everyone else is useless and demands more Mexicans be imported

>>19326356
the age of the 'butts-in-seats' boomers is over

>>19325475
you mean fewer foreign invaders, and outlawing foriegn ownership of real estate. that would lower demand without hurting any real people.

you could also nationalize all foreign owned real estate and give it away to millenials. that would work too.

>>19328559
>hurr Millennial lazy
Millennials refuse to work for cents on the hour so businesses choose to hire Mexicans because Free Trade.

>>19326223
i've never seen such a based post in my entire life.

>>19329319
Yeah that's called laziness

And expecting a free $1,000,000 house because you were born in the usa is millennial entitlement

>>19326223
Blackpilled but true.

>>19329379
Nope. That's called market exploitation, boomer shithead.

>>19329421
You dont even have a job how can you be exploited as a parasite

>be me
>drop out of college due to drug addiction
>flop around on welfare and in and out of bullshit jobs, quit all the jobs after getting frustrated at the pointlessness of it all
>suddenly inherit a new house and money now don't really have to work anymore if I don't want to
>spend my time playing video games and jerking off like I always did

LEL

>>19324586
>$15k/yr property tax
Hahahahahahahaha

>>19325795
you have too much concern for the boomers and foreign invaders. fuck them all so that we can have cheap housing

>>19324586
Millennials are a shit tier people. They are the collective nigger mass of the planet.

If Hitler was alive he would gas them before the Jews.

>>19324586

Millenials have now grown up through 2 recessions within a 15 year lifespan.

Biggest reasons
1. They've become afraid of commitment (30 year mortgage)
2. They're more value conscious (700k for a 2 bedroom that was sold to a boomer in 2007 for 20k) not happening.
3. Because of the 2 recessions they've been unable to gather assets to allow them to comfortably and psychologically safely invest in overpriced assets

>>19329525
But boomers are smarter stronger and have more money you literally cant compete

>>19324586
Very simple.
Abandon gold standard in ‘71.
Cantillon Effect leads to asset price inflation
https://m.youtube.com/watch?v=rv5xl1AEeQs

Boomers are mad I don't want to buy there glorified shed they cut every corner on repairing with "handyman skillz" for 400k. Hold those bags boomy.

>>19329550
None of that is true it's never been easier to make money but millennials expect people to knock on their basement door and hand them free houses and snacks of cash to hire live in p,numbers and gardeners

>>19329585
You dont have a job son but pedro does you have been replaced lazy boy

cuz I was only 19 and still in college when this house was sold. duh

>>19325879
based calling out the boomers and the boomer defenders. he argues you cant change the status quo because it will hurt someone. however the millenials and zoomers are hurt by the status quo.

>>19325922
no shit. most boomers have horrible relationships with everyone. that is why divorce rates spiked with the baby boomers. is it any surprise such a selfish generation has a bad relationship with their kids.

>>19329739
Boomers earned everything they have with hard work you should try it no one is giving you three free houses

>>19329778
Everyone's relationships are horrible and always have been.

>>19329778
Its because you are a disappointment, you never had a job a gf and you blame old people for everything. Of course they dont like you, no one does

>>19324600
It was almost free or even totally free for boomers. Why shouldn't it be for millennials?

>>19326495
we havent seen a trickle up affect from boomers wealth that means there will be no trickle down affect when boomers go bust.

also the native population fertilty rate is at replacement. that means no growth. we wouldnt have the constantly increasing housing prices without the foreign invasion

>>19330199
Boomers worked for 50 years for what they have and you cant even count that high

>>19330199
Because you aren't as good as a boomer

>>19330228
You would think that millennials would get jobs, but no millennials demand more immigration

>>19330335
>29 posts by this ID
You can't be this dumb. Millennials weren't even adults when you let our country be invaded.

>>19330486
Millennials have imported 34 million browns in the last five years because they cant make their own avocado toast. Meanwhile boomers wouldn't eat that shit but if they did they could toast their own bread in a toaster if you kids know what a toaster is

>>19330536
graham stop bringing up the avotoast

>hes not forming a gang and getting ready to take everything by force

lmaoing @ ur life if you dont see whats coming

>>19330317
Thanks for trolling and LARPing as a Boomer

>>19329623
>None of that is true it's never been easier to make money but millennials expect people to knock on their basement door and hand them free houses and snacks of cash to hire live in p,numbers and gardeners
Totally detached from reality. 54% of young people are unemployed right now.

>>19324744
Those houses have been on the market for well over a year. Nobody is paying those insane asking prices. No more chink money, sorry.

>>19329824
Nope, no generation ever had this level of animosity towards their children. My grandparents sacrificed their entire lives to make their children's lives better. Boomers are sacrificing their childrens future to make their lives better.

>>19330621
Why do unemployed people expect free houses? Why dont they get jobs or be entrepreneurs? Why dont they mow lawns or pick up cans for cash. Boomers arent going to ride in to save you when you have I h8 boomers tattooed on your face

>>19326579
wtf this nigga
>1h debugging
>30 min reading documentation
>1h writing code
>1h writing slides

that'll be 100k+ yearly
FUCK

>>19330680
Who did the outsourcing?
Who bought all the new houses?
Who brought in and pays illegals?

You will pay for it because there's nobody else who can.

>>19324586
Because we have no money and no credit.

>>19330720
Who did the outsourcing?

Millennials who refuse to work

Who bought all the new houses?

Boomers who work hard

Who brought in and pays illegals?

Millennials who are too lazy to make their own avocado toast


You will pay for it because there's nobody else who can.
Not you since you refuse to work so maybe
The Mexicans who were imported by millennials to make avocado toast

>>19330596
based my brother. i was hopung for some corona riots. as soon as there is a riot, i taking some boomers house. i will say he died due to corona, and declare myself an undocumented homeowner. just like tge foreign invaders. i just dont have the documents like the deed. i am sure i will get just as much sympathy. amnesty for hard working undocumented home owners

>>19324744
>7.75 million
yes you Might have a buyer in 10 years if you're lucky. If you buy houses buy duplexes and sell or rent them at a price most people can afford. That's were the real money is.

>>19330672
based. you hit the nail on the head. but as i said you dont even see boomers with long term friends let alone family. its like no one wants to be near a narcissist long term.

>>19328106
I have around $150K in liquid savings (more if you include IRA/etc) and make 80k/y, wife makes 40k/y. It's not so much the cost of the payments, it's the fact that these houses are clearly overvalued. I mean, we are talking wood framed houses that aren't even updated for $400k. Something decent is now $550k+.

I can afford the shit, but when the market INEVITABLY tanks, am I going to be happy sitting underwater on some piece of trash that I spent half a mill on? Fuck no. But that might not be for another few years, and in the mean time I'm stuck here...

what you do, you gigantic retards, is you wait for the housing correction coming up like we saw in 2008, when property is pretty undervalued, and you buy property insanely cheap and sell some of it once the economy goes parabolic shortly after.

>>19327642
Late reply but of course some idiot didn't get what was conveyed and has to strawman.

The point was even in semi desirable areas (inland so cal so desirable to spics or w/e don't strawman again) the "appreciation" isn't really that. My father bought the dip in late 08 and his house is worth exactly how much he has paid in taxes + realtor selling fee. Literally breakeven, but looks like 200k+. Update: now only 150k

After finally starting to get into the meat of the principle, making sure the Jews are well fed...his insane growth high demand prime location house is worth: breakeven, and your goybux back. Update: -50k.

So all in, ignoring the pmi he probably had to pay, the upkeep on the pool/gardens/lawn, home repairs and passing an old roof on to the next sucker (millennial)...he ended up living in a 2.7k house for the cost of renting a 900 2 be apartment at a non jogger facility.

Reasonable deal, but not the "holy shit it's like printing money" number always go up ponzi the greyhairs treat it as.

>>19331082
yeah think if you had the land what the material cost would be if you built the house yourself. i am guessing maybe $25 k for an average house. most of the material is wood afterall. so then you are looking at labour. if you built the house yourself full time it would take maybe 4 to 6 months. so for labour cost add in half a years salary. this gives you an idea of how overvalued they are.

fuck the boomers. what better time to tank the real estate market then during corona ehen everything is taking already.

>>19331173
Just because your father was dumb or doesn't understand math doesn't mean that renting isnt stupid

>>19327715
Holy fuck.

>>19330243
Boomer didn't work. Boomers could buy a house while working part-time in college.
Or they would get one for almost nothing if they served in the military for a couple of years.

>>19331432
Too bad real estate is going up along with your rent but you keep bragging about being poor to cope with your depression

>>19327715
Based as fuck.

>>19325537
Israel's average IQ is 92.

>>19331494
Why dont you get a job and buy a house?

>>19324586
They don't have any money.

>>19325537
>>19326876
>>19331536
The whole IQ thing is literally just fake and gay.
Whites have ALWAYS outscored any other demographic and "Jews" love to lie about it.

>>19331556

>>19331494
>>19331556
Come on, you lazy millennials, just take out 80k to go to college so you can manage a McDonalds and make 40k a year.
Oh, and don't forget to buy a house with a mortgage on top of that.
Oh and don't forget to have kids.
Your parents were able to have four kids. Why can't you?

Ugh! I can't beleive you only work at McDonalds! Can't you get a job?!
How are you going to support your four kids?
You'd better get a second job at night. How else are you going to pay off your student loans, your car loan and your mortgage?

Your parents were able to have four kids, two jobs and pay off a mortgage, why can't you?

>>19331477
Of course it's stupid, but it's also not a sure thing and some golden goose.

So he paid 2.5x the cost of renting for 12 years, and will get back almost 1.5x, for a slightly bigger/more comfortable dwelling...which costs .5x in maintenance. But if he keeps that up for another 18 years and can afford the yearly 5-10% property tax increase/appraisal on top of it...he'll come out on top! Who wouldn't want a 71 year old software engineer who specializes in a dead language and plain java? Then he just has to sell for 2.75x the original purchase price and take all those sweet sweet gains to the bank.

Totally sustainable and totally showed me up :(

what are property taxes?
if you own your own home in USA you have to pay more tax? Surely not

>>19331885
Forgot the tax increase so probably more like 3.25x purchase price to come out ahead after the 200k in interest and 250k+ to pay for illegal beaners to send their goblinos to be educated about fuck whitey, and to get pulled over nonstop for going 50 in a 45 a 1/4 mile from your house.

>>19331647
Why do millennials think that paying $80000 for a useless degree that gets you a job at McDonalds is a good idea? Like dont go to college and you wont have to work at McDonalds and you wont owe $80000

>>19331885
Buying is a sure thing you buy $100,000 house to save $1200 in monthly rent, not my fault that your dad thinks he deserves a mansion in Malibu working McDonalds

>>19331969
You have to pay a certain percentage of your property value to local governments in the USA. Typically the lower the income tax the higher the property tax. Texans pay like 2-3% of the home value per year.

>>19331969
Renters also pay property taxes plus they buy the house they live in and give it to the landlord

>>19331986
The malicious negligence preceding generations displayed when financially guiding their children will come back to haunt them.
They don't deserve to prosper from Jubilee.
The fucking morans that fueled the necessity for absurd corrections deserve to falter because of it.

The upcoming wealth transfer couldn't come any sooner.

>>19331647

we all know this esl guy is larping and trolling.

but there is something about the broken sentences and the fact he stubbornly keeps repeating the same thing over and over; like he cannot hold complex thoughts in his head.

you just know he speaka da englishee with a heavy accent and always shouts at people 2 feet away. i can smell the beans and bad hygene on him from here. not to rag on this old foreigner too much. i am sure the old cat lady loves him and doesnt mind the smell.

bump for the burn