/biz/ - Business & Finance

>why is one of the most stable asset classes not going down in times of uncertainty

>>24466275
That's one of the hottest guys I've ever see

IT will. Just wait for the eviction moratorium to end on New Year's.

>>24466275
> why did I ask a pointless question? Oh wait I just wanted to post a man

sage

I just want a damn house AAAAAAAAAAAAAAAAAAAAAAAAAAAA

Someone with actual real estate knowledge please chime the fuck in.

>>24466275
Why would it go down when your country is being flooded with foreigners that need housing too? Supply and demand is a bitch when the demand is artificially inflated. You know what you have to do.

Everyone is trying to build fucking rental portfolios. Moreover corporations such as Zillow and redfin are getting federal loans for 0% interest and buying out real estate to sell to your average mom and dad.

>>24466275
you will never own anything and be happy

>>24466275
>>24466348
saaauce!!!!

>>24466348
>>24466275
we brooke posting now?

>>24466363
>Everyone is trying to build fucking rental portfolios. Moreover corporations such as Zillow and redfin are getting federal loans for 0% interest and buying out real estate to sell to your average mom and dad.
Right. People are taking 20x long leverage (a 5% down mortgage) to charge people rent these days

Becoming a landlord is some people's main hobby

>>24466401
Brooke is OP pic. /r9k/ thottie

>>24466430
That's not Brooke >>24466348

>>24466275
Til the boomers die off and/or immigration stops

They'll never go down, just fucking buy a house and lock down your monthly payment for 30 years

>>24466348
The government has backstopped market forces from doing its vital flush. Be patient

>>24466275
Real estate prices are not going down. Buy as soon as you can and don't buy too much house. Buy a good, but maybe cosmetically outdated home that can use a little fixing up. Your home value will increase a much larger amount than what you spent on repairs/updates.

The government is inflating the prices of assets for boomers and making millennials and gen z pay for it.

>>24466348
>>24466275
Interest rates are extremely low, coupled with dumb apartment city-dwellers realizing they can telework, and likely will in the future because it saves shitloads of money for the company on leases. So, they are now looking to buy houses, often outside of their shithole cities, after having seen the bit of instability cities saw this spring and summer with niggers.
It's unfortunate, but if you're a small-towner or suburban, brace for fucking faggot city liberals to flood your town and price you out of your own hometown's market.

>>24466275
>Why won't housing prices ever go down when the economy is fucking trash and we are in a recession
Because of what happens when they do, everyone is invested in stopping real estate from having another problem.

my position is that the housing market will fall.

some governments have taken significant measures during this pandemic to encourage house-buying and thereby keep house prices up.

obviously the government is mainly doing that to look out for their own (themselves and the banks). higher house prices are good for them. remember, a low interest rate on a given price is equivalent to some higher interest rate on a lower price. the former works better for them, as it psychologically encourages buying more than the latter does (people like low interest rates).

if the government is doing this then they know there is a real risk of the housing market declining.

>>24466777
The only thing that's going to cause long term housing price drops is global population decline, and we aren't approaching that until shortly after we die.

>>24466864

too many variables at work here to rule out a housing dip.

the government has show its hand as far as im concerned. thats enough to tell me this isnt the time to buy, regardless of how the market proceeds.

i may be biased because i'm rather against mortgages (at least any mortgage with a small deposit, i could tolerate maybe a 40% deposit minimum, but preferably 60% or more)

Fuck you I'm not selling.

t.Duplex owning fag that refuses to move back in with parents or rent and pay someone elses morgage.

>>24466330
sleepy Joe won't let it happen

You had 2 weeks in march

>>24467015

>>24467139

fuck off lmao

>>24467071
House hacking? Absolutely based and redpilled

I own a duplex too but don't live in it. There's something to be said for two doors under one roof

>>24466636
What's your problem anyway?

>>24466348
extended forbearance will be extended and the foreclosure process takes about a year to evict anyway so we're looking at about 2 years until the foreclosures from this crisis affect the market and a lot can happen in 2 years. It's rigged son.

>>24466275
>>24466348
1. People are very reluctant to sell a house for less than it was worth a few months ago. They try to ride it out and wait for values to come back up. Their agents are complicit in this, they don't want lower fees.
2. Mortgage interest rates have gone down considerably this year. That lowers your monthly payment meaning you can afford to pay more for the house.
A $300,000 home at 4.5$ interest is $1500 a month for principal and interest. A $370,000 home at 2.75% interest is still $1500 a month.
Read that previous sentence several times until it fully sinks in and you understand.

>>24467250
this

fr despite everyone always saying buying a house is a big boy move, i think renting is the play rn.

>>24467257
based

>>24467257
A $300,000 home at 4.5% interest is $1500 a month for principal and interest. A $370,000 home at 2.7% interest is still $1500 a month.

theres just no other conclusion than house prices are being inflated to keep them around where they 'should be'

if these measures weren't taken house prices would be dropping.

and when you get a mortgage you're locked into that mortgage despite any future house price fluctuations

you could be bag-holding a house if the butterfly effect hits and the measures can't hold it back.

>>24467201
>>24467071
question. where do you own a duplex? Or any suggestions what cities to invest in duplexes?

>>24467257
SAY IT LOUDER FOR THE RENTCELS IN THE BACK!

>>24466275
Their prices are a greater reflection on the devaluation of our currency rather than supply and demand

>>24467257
Correct. Prices won't come down till interest rates go up.

>>24466636
this is the only correct answer

>>24466363
>>24466482
This is why it will fail. Gov will rugpull the pajeets and karens trying to parasite off the system

>>24466636
>>24467250
>>24467257
Appreciate the responses. Looks like I’m going to just suck it up and get cucked buying in this overvalued shit market.

>>24467442
I own one in a large city in Ohio, let's leave it at that. The property is in good shape but the neighborhood it's in is pretty sketch. Bought it off my coworker in February for around $10k under market value. Since it was non-owner occupied, I had to put 25% down and pay nearly a point higher on the mortgage than if it was owner occupied. I would recommend following the path of >>24467071
and find a duplex in your area that's affordable, live in one side and rent the other side out. If you get the right deal, your tenant will basically pay your mortgage and you live for free.

Look into real estate further, particularly residential rental. You won't regret it.

Studies show USA in the future dividing into the top 10% "aristocratic" upper class, and the 90% lower class slum dogs, like North Korea, or the typical cyberpunk world. Fortunately, I've made it into the top 10% with my computer science job.

>>24467717
I should add, with duplexes, triplexes, and quadplexes, you can finance them using a conventional or first time homebuyer FHA mortgage if you live in it. The bank I work at is currently offering 2.75%/30 yr. STUPID cheap money rn

>>24466636
spot on advice

>>24467507
Which they won't because if they did, the US Gubmint will default on their debt

I thought I bought the peak in 2018 but it kept a rising. I'm considering selling the peak and moving to the Midwest. My cuckshed is worth 300k which is outrageous for 1000sq ft.

>>24468097
If you come here, don't vote Democrat.

>>24468097
This. You don't like the end results of your political environment where you are, no worries. But if you come here, assimilate. The values, beliefs, and culture here have created the environment that everyone seems to love when they live here. Show up with an open mind and entertain the concept that maybe different policies than what you've been surrounded by could be beneficial.

>>24466300
It's not that it's that boomers have successfully lobbied to get the government to inflate their housing prices. There wont be a pop in the bubble until after they sell.

Prices don’t go down if nobody sells lol

>>24466275
>How long do I have to wait!?
Until banks are forced to stop fucking lending (unlikely) or FIAT becomes fucking useless and they can not lend/create into existence what the house sellers actually want (e.g. Bitcoin or Gold)

>>24466275
>Why won't housing prices ever go down
Housing prices went down big time against Bitcoin, Stocks and Gold. They only went up against worthless fiat because its garbage and banks can just create it.

>>24466636

can confirm, I'm moving out of my apartment in NYC in january to buy a house in the suburbs in a southern city now that i'm working remote

>>24466275
Shes so sexy. Shame she burns coal

>>24467257
>Their agents are complicit in this, they don't want lower fees.
Agents want volume retard

>>24466572

When a commodity hits a point where the common consensus is that it will continually rise non-stop and never fall, and that you're an idiot not to buy as much as possible...

Thats the point when a crash is imminent.

>>24469013

well clearly we aren't at that point yet because there's a "when crash" thread every day

>>24468853
Knower

>>24469013
this. most people dont realize the big money is only made when big money is lost. Everyone cant win in a zero sum game (and yes artificially adding value to shacks through loose monetary policy IS in fact a zero sum game or even negative sum)

>>24466636
>can fucking confirm, im in the middle of an area thats being built up on all sides and its all liberal city dwellers buying up the cheap thrown together particle board houses

>>24467359
or you know I can not pay an extra 70k and you home selling faggots can just sell me the house at 300k while interest rates are 2.7%

>>24466275
Does she hold TOMO?

>>24466275

>>24466350
This

>>24466275

You missed the boat goy. Hyperinflation is coming and the only people who won’t get cucked are the landowners.

>>24467704
https://www.yourbrainonporn.com

>>24468934
I don't mean that the agents say "just wait until things pick up to sell". What I mean is agents are generally reluctant to lower home values to reflect a recent drop in demand (just as homeowners are as well) and instead list the home for more than the market will bear in hopes of not losing out on any commission. They don't want to leave any money on the table. We still have some pent up demand in the hot markets so despite looming foreclosures and other economic uncertainties there are still people willing to pay top dollar.

>>24466348
Go to banks and see what you’re prequalified for. It’s easy. Save up a bit for a down payment, or if you qualify, get a down payment assistance program through your lender. You could possibly get in a house for zero down. Also everything is negotiable, even closing costs etc. make the seller pay for all the little shit. Don’t accept something if you don’t want to pay it, lots of small fees that add up in a real estate sale. Also when you buy a house, apply for homestead property tax discount. And get your lender to setup an escrow account so you can save for property taxes every year.

Also, if you build up enough wealth, you can leverage your new worth to get zero down payment on houses. It helps if you’re buddy buddy with the bank and lender.
Or if the house is worth more than you’re paying, you can leverage that to get repair money or just zero down. Lots of creative ways to get into houses nothing down.

If someone wants to become a real estate investor, you really really should become friends with a lot of bankers. It makes things a lot easier.

One more thing, if a lender says no, keep going to other lenders and ask them. Keep asking until someone will work with you. Then when you find someone to work with, they’ll do a couple deals, and then usually they have to stop, can’t have too much owed at one place. Forget them and go talk to more lenders.

>>24469926
Net* worth

Cause it never will. Housing market to trillion dollars.

>>24466275
>Why won't housing prices ever go down
Housing prices in NYC and San Fagcisco have been dropping all year, OP. Why don't you move to one of those paradises?

Prices in actually nice places are going up because all the faggots and scumbag kikes are fleeing NYC/SF to infect everywhere else with their faggotry and high taxes and soft-on-crime community social worker programs.

>>24466350
>Why would it go down when your country is being flooded with foreigners that need housing too? Supply and demand is a bitch when the demand is artificially inflated. You know what you have to do.

This. This. Housing market to trillion dollars.

>>24466636
This
the meme that boomers bought cheap houses leaves out the fact that most of them bought at 8-12% per annum

>>24467283
>i think paying the cost of ownership and the mortgage of my lanlord is the play
don't be memed by /biz/ every extre cost coming from ownerrship (land tax, maintenance, mortgage ) is built in your rent. I have a rental and set the rent price exactly like this. I add mortgage+taxes+maintenace over ayear, and split in 12. And guess what? I'm bang in the average price for rentals in my city. Everyone does it, and you're a fool to think homeowners are losing compared to renters

I'm predicting a crash sometime in the next 10 years which is around the time the Boomer generation should be decimated. Might even come a bit earlier in the birthrate is even worse than they say it is as they'll be no families around to buy up these overpriced shit boxes.

>>24468097
We're fucking full, faggot.

>>24469405
Except you’ll get fucked by hyperinflated taxes to pay for local government gibs. The only real winners in this scenario are crypto holders who can fuck off to Costa Rica.

>>24470746

i disagree

regardless of what price you're getting, your tenant still owns you in the eyes or the law. part of the appeal of renting is that your landlord works for you. there's a lot factors that go into the price for the renter, too.

it's a good deal for both parties most of the time, i'm saying at this time if you're a first time buyer renting is the better deal

>>24466275
Allow me to explain as someone who actually works in Real Estate. It’s a few different things, but the most important one is that the equity gain on a home creates a feedback that increases itself. What I mean by that is, people who already own a home are gaining the equity on that home every year, which they can then take out a second mortgage against to buy a second home which decreases supply/increases demand which increases the value of homes. Since they are already homeowners this is profitable to them, but widens the gap for those not in the market yet. This continues on and on, worsened by the fact that if you can’t get into the real estate market and don’t want to live in mommy and daddy’s house you have to either go to buttfuck nowhere or rent. In other words you pay the boomers who own the house 2/3 of their mortgage to live in their basement. Then they rent out the main level to other tenants and are literally making a profit which allows them to buy a third house, etc. It’s gotten particularly bad in just the last 5-10 years for my home town where prices have doubled. The house my parents bought in 1997 when we moved here for $198k is now worth over $600k.

The other huge issue is banks. I would go as far as to say banks are almost entirely the problem. They’ve tightened their restrictions more and more over the years, to the point where I know couples with well paying full time jobs that straight up cannot get a mortgage to even buy a semi. Not so long ago you could save a downpayment in under a year and would have no issue getting a mortgage with dual income. 5% then vs now is something like saving $20,000 vs $60,000. Good luck trying to do this while renting at prices that are frankly robbery. You’re basically being asked to pay the majority of a mortgage and save a downpayment simultaneously while those who had the advantage of getting into the market before you simply experience explosive and exponential growth of wealth.

>>24470746
If you are paying the same amount in rent that you would in a mortgage then there is an argument that mortgage is better, but you are still taking on the risk that the house price doesn’t fall. Some people don’t want to take that risk, especially if that mortgage ends up being 80% of their net worth.

For me personally, my rental payment is $440/month. And there are no suitable houses (not methsheds or not in nig neighborhoods) that I could buy with a monthly mortgage payment this low. To me, rent and mortgage is a cost of living expense and my goal is to lower that expense as much as possible so I can invest in other assets.

>>24469338
Anyone who posts this is a faggot.

>>24471198
Trailer park here i come!

>>24471198
I should also point out that many people think they’re beating the system by leaving desirable areas and moving to cheaper ones to buy houses they can afford. You certainly can do that if it’s what you want, but I’ve dealt with a lot of people who leave for cheaper areas not realizing that because the inflation of home prices is so horrendously high in desirable areas, they get very quickly priced out of ever returning.

Think about if you bought a 200k home that goes up 2% in a year- you’re up 4K. The guy with the $600k house getting a 6% increase is up 36K. Now your houses are worth 204k and 636k respectively. That gap will keep increasing disgustingly quickly because the gains are exponential. It’s literally just the old adage about the rich getting richer.

Again, I put the blame squarely on banks for a lot of reasons. Not the least of which being that if it weren’t for the concept of mortgages being perpetuated by banks, house prices would naturally be checked by what people could actually pay for.

>>24471577
Stock market returns average 8% a year AND afford more liquidity, don’t have yearly taxes and maintenance fees, don’t have to pay 6% to agents when you sell, and are not subject to local market risks (local jobs leave for china, section 8 appartement build down the road, natural disaster, etc). If you are afraid of being priced out of wealth forever then you should be buying SPY and QQQ instead of a house.

House prices blow my mind. You'd have to save every penny from the median average wage for 10 years AFTER tax to actually buy outright the most bog standard house around. Actually spend some of that money and you're looking at another decade. And if you get a mortgage, you'll only get four times your pay, you'll need a massive deposit, then you've got to pay at least a complete years wage in interest on that mortgage.
Honestly I feel like I'm missing a trick by not building houses. Surely construction costs have not gone up in line with house price increases?

>>24468887
>every asian is obsessed with whites
>wahhhhh one likes blacks :(

>>24472500
she is clearly some dominican slut or some shit

A mortgage is just renting funny money from a bank and renting is getting cucked out of your money through debt slavery. None of the Jews supplying you with that money worked for it. They print, you work.

>>24472396

Huge taxes on materials and labor almost everywhere in the West drive up costs like you wouldn't believe. You can build a good house for 40k without all that nonsense.

To give you an idea of how bad things are globally, Germany, Sweden and the Netherlands have replaced 25% to 35% of their own populations with hostile foreigners just to keeo the mortgage bubble from popping and taking down the banking cartel.

>>24472708
is there a youtube video on this? that makes me fucking miserable if true. ive always jsut kinda been hoping id wake up into 600k from some miracle and buy a nice house with it and not have to worry about normie shit

>>24472510
Looks like a gook to me

Housing prices plummet after a pandemic. Less people equal excessive amount of land. I’m honestly rooting for this pandemic to get rid of a LARGE amount of smug boomers

>>24472708
A true black pill is knowing the housing bubble is the reason white people are going extinct

They will never go down.
As long as we have Keyneianism theory as the foundation for our policies housing will go up for ever.
Why is the stock market at an all time high even though economy is garbage? It's because central banks and politicans have shown that the single most important thing is to take care of the real estate and the stock market. Everyone else can go fuck themselves, the next generation can go fuck themselves.
stonks up, house up. thats the policy.