/biz/ - Business & Finance

Because of the smell of fuck prostitute being rippen too soon.

>>21786010
Seriously FUCK LONDON

>>21786010
I've got my investments up to $120K and may be buying one within a year

Closing on a house in 4 days. Thx chainlink.

Because white people are racist and refuse to live near black people.

>>21786010
Because of immigrants, women in the workplace and foreign investment.

>>21786010
I cannot speak for others, but I close on my house in the US tomorrow. I have a 5% down payment and a 760 FICO score with a job making 50k per year salary. I was approved for around 250, but the home I wanted was 190k after bidding war. I am a white male with terrible run ins with Albanians and black people so I am finally moving out of trash and into a nicer part of town. I still live with my parents at 27 and have finally saved up enough in cash to buy what I want. In the last 2 years I have forgone relationships, going out with friends, and lavish vacations to pay down 90% of my term debt. The short answer to your question is because student loans are out of control, medical costs are unregulated, people want to put in little to no effort and reap millions, and consumerism. You can get rich from investing, streaming, going viral with ads, but it’s unlikely and this and future generations only know suffering and a heightened version of the American dream in which it’s no longer stable marriages, no children, and trap houses/section 8.

>>21786010
because we are waiting for Boomers needing to find massive amounts of liquidity, flooding the market and homes costing next to nothing. Only an idiot would be buying a house right now. They're going to be so fucking cheap before too long.

>>21787019
This is unlikely to happen because the majority of this real estate will be passed on to children or seized up during estate auctions. It is unwise to consider the possibility that building up equity and buying a place to live (yes, you will never truly own it due to property taxes) as not important until real estate becomes cheaper. Given that expensive areas, like San Francisco for example, are having inventory skyrocket due to migration en masse, these people are now fleeing to areas with rural land or more affordable housing. The population is only increasing and the amount of available land specifically for the US citizens and not globally is decreasing. Farmers and real estate moguls buy up hundreds and thousands of acres each year and, more often than not, only sell to each other or pass down to their children as non arms length transactions.

Long story short - do not wait to buy real estate because you believe it will crash. If you don’t want to buy it, that’s completely fine, but that reason alone is not wise

>>21786010
Better question is why aren't millennials buying trailer homes? Cheaper than constantly renting apartments.

>>21786961
>I was approved for around 250, but the home I wanted was 190k
You must live in backwoods Mississippi if you're only paying that much, or it's just a shitty house.

>>21786276
How much you invested and much you had when exitin LINK?

>>21787736
These real estate moguls you speak of are not filling their bags right now fag. Why would they be buying assets at a premium

Buying a house is a win-win over renting. I bought a 4 bed house two years ago for $500k, and worried I bought the fucking peak. Covid comes along and I think I'm fucked. Well actually fed reduced rates to 3% so I just refinanced from a 7 year ARM to a 30 year fixed, the appraisal came out higher so I was able to take out $50k and actually reduce my monthly payment. That $50k alone can cover the mortgage for well over 2 years. Feels so good knowing in the face of inflation I have a fixed payment for 30 years, and even when the biggest fear of home buying, that an economy catastrophe happens soon after, happens you end up ahead. Turns out the system is just rigged for home owners and you are literally just throwing away free money by renting just to try to fight the system. its futile.

>>21787863
I live in Nebraska and just purchased my home for $130k. It's an older home, but decent and in a few years I'll be able to rent it out when I upgrade. The midwest is boring, but it's affordable.

>>21787863
South Carolina near Charlotte so idk if that’s backwoods lol

>>21788124
There’s no need to get defensive, I’m just trying to give you a very real scenario. I work in mortgage financing for the Ag industry and trust me, you don’t need 1000 properties to be consider a mogul. PLENTY of real estate is being bought right now whether at a premium or not. Also, if you think okay fine I’ll just go to these death estate auctions. You should know these auctions usually require the funding to be prepared or liquid as of 1-2 business days. If you think the people on this board gambling shitcoins and renting at 800-1k per month are able to save 200k in liquid assets as of 1 day that just won’t be the majority, especially if you are a major consumer living off credit cards. Always so hostile when your opinion is challenged baka

>>21788300
Yeah there’s not much in Nebraska and for young guys like me who want to live in an area with plenty of IT jobs with the leading businesses we have to be closer to civilization. It’s not feasible to live in the middle of nowhere for us. Hence why we can’t afford housing.

>>21788124
Because the earth isn't growing you fucking simpleton. It really is that easy.

>>21788334
Yeah that’s backwoods.

>>21788422
>What is remoting working becoming the norm, further incentived by the post-covid response of higher commercial property taxes to pay for stimulus.

>What is an extremely accerlated adoption of automation methods due to dimished workforce and a post-covid stimulus repsonse of higher payroll taxes incentiving reducing the payroll permanently.

>What is the whitest of flight.

>>21788334
I'm defensive and hostile because I called you fag. I was just using your pronoun of choice

>>21788428
We're not close to running out of any resource, and that includes land you retard. It's a big fucking planet

>>21788567
And the people with the money to buy it have exponentially increasing wealth to buy up that big planet.

>>21788634
And you think they just hold those assets, or they sell them at the right time. Then buy more assets at good value areas as oppose to right now where prices are at a premium. If you're buying someones heavy real estate bags right now then you are contributing to that exponentially increasing wealth of a particular group of people. Stop being plebs

>>21788567

Not really, real estate is scarce in that it only includes land that is:
close to other people (for jobs)
connected to infrastructure (roads, power, water)
in inhabitable land (not deserts, mountains, forests with no access)
not taking up land useful for other things like farming

In reality most land not built on these days is not built on for a reason, otherwise someone would have bought it up. And it takes significant investment by the local government to provide access to resources (utilities, transportation, police & fire, hospitals, etc). So city zoning also creates scarcity.

>>21786010
presumably an adult lives there so why does it look like a teen bedroom?

>>21786961
5% on a 200k home is pathetic. mortgage insurance out the ass.

>>21788300
you can get affordable houses in the North and South East and still live near cities worth visiting. I don't know why double wides are so expensive out west.

>>21786338
This cuck closet

>>21786335
Wtf why is that house so cheap

>>21789324
Probably cause the last whites who bought it got homicided by niggers

>>21786335
I live in Sweden and all the affordable apartments in my area are in ghettos where people get shot every week so I don't think its strange that I don't want to live there.

Idk but I’m thinking of moving to Texas because I’m just going to end up getting raped buying a house here In California. 1 house here is like the price of 3 there

>>21786961
>$50k salary
>approved for $250k
the state of debtmerica

>>21786010

>>21789839

>>21789875
i wonder who bought this. a really dumb tech worker or a chink with dirty communist chink money.

>>21789875
Surely fake?

>>21789986
No.

>>21789985
Foreign money ie. China or some Arab oil dudes getting advice from local real estate agents to invest in the city lot by lot to flip to local developers for when they get the city's approval to build another soulless condo- I mean """"""master-planned mixed-use communities""""""

>>21789790
True, it'd be one thing if he was renting it or getting a 2-4 unit. Then the rent could cover the mortgage and property taxes and be positive cashflow. Getting a personal home before your positive cashflow outweighs the price of the liability is just cutting off your future earning potential.

>>21786338
honestly stuff like this should be made illegal and I'm a capitalist