/biz/ - Business & Finance

>>51666653
>laughing at other peoples financial difficulties

cringe

It's rough out there

>if I could have just bought $100k of stocks today instead I could be rich
Kek yeah great time to buy the dip Canadians, it's all going to bounce any moment now

>>51666703
>not laughing at dumb niggers getting rekt

>>51666653
>could have generated generational wealth but in turn I am a slave to bank now
realization setting in, he's going to be cattle

>>51666653
Just 30 minutes of research and he could have avoid this.

>>51666653
Stupid fucks buying these overpriced mcmansions. You get what you deserve.

>>51666653
No refunds

>>51667201
Also what dipshit thinks 100k is generational wealth you can literally make that in one year

Friendly reminder that in 99% of cases, a variable-rate mortgage will destroy you. If it sounds too good to be true, it is. Don't fall for it.

>>51666653
Why take out a VAR Mortgage?

>>51666703
Do you know where you are faggot?

>>51667216

Only way it might make sense is if you are able to put a large down payment/get a smaller loan and plan to work like a madman to pay it off in 5 years or less before the rate adjusts. But even that's a risk because who knows what life might throw at you in those 5 years that could prevent you from paying it off early.

>>51666653
>These are the people telling you debt based finance is good
Oh my god it has never felt so good to be debt-free.

>>51666653
no sneedback

>>51667213
Hey dipshit it says TURNING 100k into generational wealth not that 100k is generational wealth. Reading comprehension bitch. Try it

>>51666801

Kek. However you are a faggot liar. That is not a cake taken from a canon camera.

>>51666653
Do people still not understand the most basic premise of don't spend more money than you actually have?

the only mistake he made was going to a variable rate mortgage. now he's forced to sell underwater

>>51666653
Everybody who made huge moves like this in and around 2021 were fucking retarded. Smart blokes knew to get greedy during all the 0% interest era and get out before the hikes began, not getting into debt situations at the fucking top.

>>51667515
Insane credit allowances and massive loans are too tempting. It's a high-level intelligence filter that many fail to negotiate past.

>>51666703
He's probably a fervent defender of jews so he gets no sympathy.

>>51667459
I have a little less than $200K in stonks right now, Am I gonna maek it?

>>51667459
Kek I think you might literally be the faggot in OPs image

>>51666703
>I never thought leopards would eat MY face!

>>51667227
>>51667216
If you know rates are going to keep dropping it might make sense to get the VAR and refinance later.

Current market is not like that. He dumb

>>51666653
>he fell for the mortgage meme

>>51667213
100k is a lot of money for normies to comprehend.

imagine even understanding the jew systems. raise rate = higher mortgage lol. who knew. no thanks

>>51667213
>100k in one
Aww little baby doesn’t have any bills or family to take care of yet? How is highschool and your job at dairy queen retard

>>51666653
My dad, last year:
>Just take out a loan and get a house already! It’s the American way! [sic]
Thankfully I’ve suffered apartment life while I save for a bigger down payment. NEVER trust boomers.

who would get a variable rate on a house, Yikes!

>>51666653
>I'm a debt slave because I'm a retarded normie who mindlessly buys things instead of investing in potential opportunities

You get what you deserve.

Imagine bagholding a fucking house on 5x leverage.

>>51667227
Banks will approve variable loans quicker and easier as they know its a debt trap and they will get a free house. Most idiots will switch to interest only when the banks offer it and will be paying the bank all the interest without having paid off ANY principle.
In Australia the gov. talked of banning interest only loans due to predatory practice from banks but alas the system requires the blood of retards and so it shall have it. Most fixed term loans in Australia are 2 years hahaha my dick is pulsating thinking of the cheap housing we will have in 3 yrs..

>>51666653
>Could have generational wealth

Retard. Doomed to be poor from beginning. His only hope for gen wealth would be to put all 100k in crypto and get very lucky.

if you need to do ARM, you're poor. if you're poor, you shouldn't buy a house

>These are the people who call you rentoid

>>51666653
>>51668281
I want to think that these are Memelennials that FOMO'd but maybe only Gen X had the cash for a downpayment during lockdown.

>>51666653
>some bullshit story from a third world country about an arm mortgage
>hits all the marks of hoomer hate spouted by priced out coping rentoids
Sitting comfy with a 30 year fixed mortgage at 2.8%. Never selling my home btw. Third world scum and rentoids can suck my dick.

>>51669064
Exactly. Mortgage demand might be low but supply ain't gonna expand. Everyone with a house already is gonna sit on that shit nice and tight. The only way supply goes up is if people start getting foreclosed en masse

>>51666703
Just leave poorfag

>>51668470
they will never ban this shit, it's half the reason jews love diversity so much. more unsuspecting goyim to turn into debt slaves

>>51666653
why would you buy an house, what's the point? all you need is a bed, a shiter a shower and a stove, you don't need a fucking house, just rent some shithole and forget to pay the rent until your are thrown out and then repeat until you can actually afford an house outright, don't pay your bills unless you absolutely need to

>>51666801
The understanding of focal depth used to make that AI pic is pretty outstanding.

>>51669041
Mainly Gen x and they aren't buying anymore actually alot of the people holding the bags are businesses liek Blackstone, airbnb and zillow which are sinking real fucking fast. Airbnb crash is free money all the way to zero

>>51668281
you’re gonna carry that weight…

>>51666653

Can you create an amortization schedule with a variable rate mortgage?

>>51669341
not really

>>51669041
The majority of buying over the last two years was second homes and corporate real estate empire building. During a downturn, people tend to sell second homes, and with the return in commercial real estate hovering just above the 2 year bond rate, expect that inventory to start a slow dump as rental leases expire.

>>51666653
>>51668281
kek fuck redditors

>>51666653

lol his 100k in the market would be down 35% so what the fuck is he talking about generational wealth

>>51666653
Who the fuck would agree to a variable interest mortgage? Kek

>>51669521
He thinks
1. We are at the bottom
2. He can time the bottom
He would have failed no matter what

>>51666734
>Uh oh it's beer o clock I think I'm sober
>How about we think this over over a can of King Cobra
>You ain't nicer than the lunatic shyster, aka the VIXster or the VIXmeister

>>51666703
They deserve to suffer because they won’t ever acknowledge that everything bad is because of the Jews

>>51667216
When I was renewing my mortgage a couple years ago the Jewish consultant tried to convince me to go with variable, when I went with fixed I could see in his eyes he was seething

>>51666653
>>51668281
>It doesn't matter if the house is 100k overvalued bro it's worth what I'm willing to pay fo-ACK

>>51669630
>I could see in his eyes he was seething
Top kek

>>51669630

>>51666653
wow this makes me feel a bit better about what i did (bought a house at the peak but its still worth much more than i owe the bank) plus i have lots of cash

>>51666653
Literally impossible. No variable rate changes that fast. Also what idiot sells only 1 or 2 years after buying? Fake and Frog.

>>51666653
I don't get it. Aren't variable mortgages fixed for 5-7 years? Why is he paying top rate when he would've bought at 3%?

>>51669535
Me. Buy a home with variable for 5 years before rates are guaranteed to go up, sell at 4 years before it rises or save money because rates will have plummeted by then.

>>51666703

What kind of person would ever even consider a variable rate mortgage? Even a high fixed is better than anything variable. That wasn't even smart when rates were on their way down to zero

>>51667592
THIS. THE PROBLEM IS JEWS AND SPICNIGGERS. Americans who refuse to acknowledge this deserve to suffer.

>>51667216
a 10/1 arm would be good. id bet on interest rates being lower 10 years from now then you refinance into a 15 or 30 year fixed at some point. simple as. But this is probably a bong post and I don't think they have long term fixed rate mortgages in bongland.

>>51669144
> The only way supply goes up is if people start getting foreclosed en masse
A shitton of houses sold in the past 5 years were to corporations who were holding houses as an offset to inflation. Now that inflation is (more or less) stabilizing and housing prices are starting to tank do you think they’re going to sit on those depreciating assets and continue to bleed money or do you think they’re going to dump their bags on the retarded nigger cattle who fomo’d into buying a house in the past 3 years?
Housing market is due for a 20-40% correction and it’s going to be glorious watching retards that bought into the peak kvetch as they beg for the government to save them from their own retarded mistakes.

>>51669553
It’s funny to me that nigger cattle think we’re anywhere near the bottom of the stock market right now. We’re at a 2 year low which would still put as back only to early Covid pandemic times. Do retards unironically believe that industry today is stronger than it was before 3+ years of hyper inflation, logistic freezes and government enforced lockdowns?
Shit is going to hit the fan real hard when yuroniggers start freezing this winter and Christ forbid Russia actually goes through with a tactical nuclear strike because if that happens we will see mass roping incidents when the S&P hits a 30 year+ low.

>>51669341
In 2018 I got a 5/1 because it’s the only thing my credit union offered. I created a “worst case” schedule.

It would have taken 7.5 years to break even with a comparable fixed rate.

>house prices have barely gone down
>people are flipping out this much about it already

why are normies so fragile?

>>51667515
everything is more expensive than what you own

1 you took out a loan
2 pay it back

There was a lot of suckers who agreed to pay out the ass for homes that they can't get rid of now. Its only going to get worse.

>>51671568
We're still eating last years harvest too. In places like europe and the USA we'll probably be seeing 2006-2008 scale financial losses starting by the end of the winter. The developing world is just straight up gonna starve.

>>51671568
Nukes are not real anon; neither is the war in Ukraine.

>>51671989
I mean if he just would have waited, but then again with the changes coming to society, better to have loved and lost than to have never loved at all.

>>51666653
Burn.it.down. And then walk away.

haha death to all mortgagees
they're the golems of kike bankers that fuelling this housing bubble, housing price only goes up because these retarded golems agree to sign a death pledge pumping the price every time they do, they do it for the fear of not owning a house, they left their fellow men to become the slaves of satanic bankers

I'm long SRS

>>51673286
What changes do you see coming to society?

>>51673743
So then what are you supposed to do? Our financial system is literally dependant upon most people not being able to succeed. Rent from one slum lord after another forever? Hope you win the lottery everybody likes to pretend is skill based when a fucking hamster wheel's random inputs outperforms the majority of billionaires portfolios?

Not really sure what your input here is beyond "I GOT MINE!" gloating that is probably fake.

>>51666653
>variable
incredible. it's not impossible though, my ma was on a variable. I had her lock that shit in at 3% after I found out. what a nightmare that would've been.

>>51673743

ngl thats a very based take for such shitty watches

>>51669630
I would've gotten a different consultant. Actually now, i would've gotten a different offer and tried to drive his rate down.

>>51667216
can't wait for all those HELOCs to reach there 10 year mark. They are variable rate and interest only for the first ten years.

haha you've signed the pledge, now it's time to die

>>51671149
>>51671278
this is canada
the payments change every month (i'm serious

>>51671149
Mine went from 1.4% to 4.4% within 6 months.
I trusted the bank of canada jew in 2021 when he lied about keeping rates low.
Got greedy and wants to pay 200 bux a month less... now paying 1000 more.
Getting a rate hold for 3 months to hedge to see if they start dropping in early 2023 or not.
Should survive... just means i gotta drive my old car for 2 more years. Oh well... live and learn.

>>51667216
>Friendly reminder that in 99% of cases, a variable-rate mortgage will destroy you
Why is it in some countries fixed is dominant, in others variable is (and can only fix for max 2 years maybe)?
Why would a lender long term fixed? Surely there's a catch or a price to pay to fix for that long? They know you can simply remortgage if rates go lower and their opportunity cost is screwed if rates go up. So what's in it for lenders? Are your fixed rates actually quite high compared to variable rates in a low interest rate environment?

>>51674435
>I trusted the bank of canada
rekt have fun paying 6.6% by eoy

>>51674444
checked
it only exists because its subsidized by the us federal government

>>51674510
Rate hold docs at 4.6 coming next week. Worst case i switch over in 3 months to that rate.
I now think that tiff fuck will crash it with no survivors and libs will blame pierre for it.
We might even get another election and cpc will be a bad economy bag holder.

>all those people screeching to "buy now or be locked out forever"

>>51674742
New builds: 200k annually
New "canadians": 400k... legally.

Yes... the prices will come down... just save some more and rent, goy.

>>51666653
>variable-rate mortgage
Spotted the chump. Meanwhile in a not-fucked area of California my zestimate is up 10% since we bought at the ""peak"" and we're locked in at fixed-rate. Please stay mad.

>>51674874

In my country most mortgages are variable.
I have an offset account and pay literally Zero interest. I am sure this upsets the Jews at the bank.
I also have 6 credit cards and have never paid interest in my life.

>>51674210
Colombia?

I know a contractor who works for home builders. His jobs are usually planned 2 years at a time. He is worried because there is no work available after may 2023. No new builds. This is ontario btw.

>>51666703
>>>51666653 (OP)
>>laughing at other peoples financial difficulties
>cringe

https://www.interest.co.nz/borrowing

It's getting nasty in new zealand where our house prices vs income are already BTFO.

>>51667603
depends on what those stocks are doing. If they're in blue chip companies that already dominate the world, you're shit out of luck.

>>51668236
You will never see fixed interest rates as low as we saw last year

>>51666703
It's the only solace I can find in this horrible market, as a distraction from my own lack of ambition.

>>51666653
What can dumb americans do in that situation?
Flee their state to the next one, change name and identity?

>>51675938
Or prices that high.

>>51671568
I wish this was true, but everything is being propped up by the bloated festering federal zog zombie corpse and nothing short of a catastrophic restructuring of the global order will change it.

>>51675885
world elites have over-leveraged themselves into NZ real estate and I hope they all go bankrupt and commit die

>>51676198
It takes a bit more than an underwater mortgage to bankrupt people like Bezos.

>>51666653
>Buying a house
>In a bubble
>With a variable rate mortgage
And I thought I was dumb for not buying a house, I need this to feel better about my situation.

>>51668261
>Investing
>Gambling

That's how you lose it all

>>51666703
No, laughing at fomo retards is totally acceptable.

>>51669197
>it's half the reason jews love diversity so much. more unsuspecting goyim to turn into debt slaves
Not sure how thats turning out because all the Indians and Chinese I know are very finance savvy, its always whites who do stupid shit like taking out loans for cars they can't afford or paying back debt at interest rate

>>51666753
>>51667263
>>51667592
>>51668049
>>51669182
>>51669608
>>51671349
>>51675807
>>51676027
>>51676759
Kek literally everyone that replied is a certified poorfag. Unbearably obvious kek, keep those Wendy's work uniforms clean and make my shake the way I want it

>>51666653
Kind of feel bad for normies who do all the "right things" - they do everything that society expects of them in order to be considered a "grown up"; an "adult" - and yet they still get fucked over.

It's legit sad. They're dumb retards but they just want normal pleasant lives.

>>51677374
Normal peasant lives.
>fixed it for ya

>>51677180
i put your pre-tax salary into post-tax savings/investments every year. stay poor, niggerlips.

>>51666703
Know how I know you're a bagholder?
>>51666734
>40s of King Cobra
A simpler time
>>51667501
Those are the description inputs for the AI you nigger monkey.
>>51667515
If everyone was a prudent investor we wouldn't have a market. Markets are made by differing perspectives, among other things. Someone has to be the sacrificial lamb to put the top in and it just so happened to be this nigger in the OP.

>>51667216
Only if you don't time things right. We had a variable mortgage from 2015-2020. First 5 years locked in at 2.8 or something. Refinanced into a 15 year fixed at 3.0 when i saw the housing bubble start to really take off on 2021.
I'm feeling good

>>51677041
Yeah cause Asian and Indian people don't take on $200k of debt to land a $55k accounting job to make mom and dad happy.

>>51676043
stop paying. bank forecloses and repossess the house. file bankruptcy, creditworthiness is absolutely destroyed for 7 years and then it falls off your credit history.

>>51677374
I have sympathy for people who get screwed following the advise of their parents, their community, their coworkers, their friends. I have no sympathy for people who get screwed following the advise of reddit, youtube videos, politicians, corporate advertisements, university professors, New York Times articles, or a vague global cultural zeitgeist.

>>51668258
I had never heard of them until they day I applied for my mortgage. When the teller explained it to me I thought she was bullshitting me. Imagine signing a loan agreement where the lender is empowered to change the amount you owe. I cannot believe it's legal.

>>51678142
> Imagine signing a loan agreement where the lender is empowered to change the amount you owe. I cannot believe it's legal.

In europe 95% of mortgages are like that. ECB was offering negative rates up until last year. You would be "dumb" not to take it.

>>51674210
Nice repro. Made by Clean I assume?

>>51671866
not a single thing is stable in this world. ricing house prices was one of them but now even that is fucked. it makes normies scared

>>51666703
You realize how smug these fags would be if nothing has happened to them.
These are the same fags propping up property prices and letting the Jews win, falling into their hands.
They deserve everything

>>51666653
>buying the top of a HOUSE of all things expecting to make a quick flip
funny thing is if he just holds for the next 10 years he will make it anyway

>>51666653

>>51678821
>normie retard
>holding
KEK

>>51666653
>>51668281
>>51671989
>>51674181
>>51674506

Lmao at these guys expecting sympathy.

Did they show any sympathy to aspiring homeowners?

The tried to ride the greed train and it ran them over instead.

>>51667501
take meds, schizo

>>51668211
>t. No investments