/biz/ - Business & Finance

>>53454728
Flip-gers and BB Niggers deserve the rope.

>>53454728
>>53454771
oh no, the value of the house went down 10% how devastating! they might have to wait a whole year for it go back up!

>>53454771
>60 minute drive in the snow.

>>53454847
>2 million to 1 million.
>10%
Is /biz/ really this stupid?

>>53454847
it went down 10% and still no one has bought it

>>53454728

were going back to 2004 prices haha

I see a bunch of people trying to rent out their shitters near me. Its hilarious, rents have dropped over $300 on average and these losers still think they can "just rent" the property they can't afford.

>pros: loads of potential!

>>53454728
>buy house
>rip down some walls
>try to sell it as is

>>53454771
>think Michigan ski resorts are destination resorts
>thinks 30-60 minutes is a close drive in the winter

Are these people fucking retarded? Boomers had it so easy just because they were born at the right time and got to fall ass backward into home ownership.

>>53454865
>Zestimate

>>53454847
the 1.1M buyer didn't sell at 2M but bagheld back down to 900K

>>53454865
Only the midwits
>>53454852
He probably bought it because good deal.


Fo you guys have any more flipper cope pics?

>>53454909
>he lured me in with a beer even though he doesn't drink
Dumb bitch. All women are alcoholics. If a man chooses not to drink, he still has to have alcohol to offer to women because they will shun him if he doesn't. He offered it as a courtesy.

>>53454928
holy checked and based

>>53454865
Yes. 90% of the people here are either senile boomers are retard zoomers

>>53454847
Kek do realtor fags have bots on biz or something?

Baghdad Iraq? More like Bags dead I rock lmaooooooooooo flipeprs get the rope

>>53454771
I just shoveled out of a weather system for four hours, best of luck with winter bookings absentee owner!

>>53454771
>middle of nowhere
There's your fucking problem. Nobody wants to do a "gathering" in the middle of nowhere. LOCATION LOCATION LOCATION. He should just rent it out long term or sell it.

The party is over for this housing bubble.

Zestimates don't accurately represent how much a house is worth. It's very rare that the appraisal comes back the same as a Zestimate. It's like combat sports having an algorithm that ranks the fighters. It's never going to be accurate. The fact that 4chan obsesses over zestimates so much baffles me.

>>53455025
It depends on the market. Where my house is all the final sale prices are basically spot on what the zestimate was at the time an offer is made. It's obvious that zestimate isn't estimating shit and people are just letting zillow determine the local housing market, but nobody really cares. Actually now that I think of it there's probably room to exploit that and do some kind of arbitrage but I'm not going to bother, feels like a hassle.

>>53455025

You are right. The seller will get far less than the zestimate if he's even able to sell it.

>>53454865
>Zestimates are accurate!
I'm not agreeing with the prior statement in any way, looks like a flipper lost their ass, but the obvious implication of the prior statement is that anon thinks the estimate is not trustworthy.

>>53455066
Comps lag about 3 months behind the market. Everyone knows this.

>>53454903
Michigander reporting in. Skiing here is a silly day trip where you go down """mountains"""" the size of a hill. Also beautiful houses here are regularly like $500k and that thing sucks in comparison

>>53454728
The markets are healing

Who the fuck is going to buy a botched flip when the market is shrieking downwards unless it's at a VERY deep discount?

>>53454728
built in 1937, lmao. SHould be worth 500k at most

>>53455159
old construction is better.

>>53455129
A moron or someone who got it at a deep discount who will finish the build out and just live in it.

>>53454728
How do I profit off a real estate crash, is it just shorting REITs and homebuilders and then buying the bottom?

>>53455025
zestimate is just a fancy way of saying aggregated comps. It's not meant to be accurate, just like comps aren't meant to be representative of the value of the particular property one is looking at. It's just a rough sketch of what the property *might* be worth. And appraisals will often do the very same thing, but also deduct any negatives of the condition of the property from its estimated value, which comps/zestimate may not catch.

What a property is worth in monetary terms is ultimately what someone else is willing to pay for it. Hence why comps/zestimate are so widely used - what people were willing to pay recently for similar properties. Esp. in developments (which lets face it, most housing is), there's going to be a lot of properties which are more or less, cookie cutter and easily comparable. It's the closest estimate you can get to an up-to-date market value without actually listing the house and soliciting motivated buyers real time.

>>53455439
buy bonds for now, then when those holding REITs are liquidating and crying and the people on TV are saying real estate is dead. That is when you sell your bonds high and buy the REITs are multi-year lows. When it is time to buy them you will know because you will not even want to do it.

>>53455159
In a sane system it wouldn't even be worth 50K.

Notice how the hoomer cucks were cocky about le zestimate and now that it’s shitting the bed it suddenly never mattered

>>53455702
Lol cope rentoid

>>53455612
>When it is time to buy them you will know because you will not even want to do it.
the one thing that I have found to be true across all markets

>>53454771
>why is no one booking my property in michigan in the middle of the winter
THESE PEOPLE HAVE MORE MONEY THAN ME. HOW?

>>53454908
really doubt they could have found a buyer at 2m anyway

>>53455943
dont worry anon theyre all losing money liyerally every day
>good times make dumb money
>dumb money makes hard times
>hard times make smart money
>smart money mkes good times
Weve been at the dumb money making hard times point for decades

>>53455978
remodeled you could have gotten pretty close.
Its good a good amount of bedroom, so maybe you could have hit the 2 million mark. Would not be unheard of. Its a very wealthy area.

>>53456264
>Its good a good amount of bedroom
it has a good amount of bedrooms

>>53454728
Why did the price of the house double instantly and go back down just as fast within less than a year.
Did a black family move out of the neighbourhood but a new black family came instead?

>>53454888
I wish but I really doubt it

>>53455758
I am watching you illiquid assets dump before me

>>53454865
But it literally shows that the house only sold for $1.1M, even if the zestimate shows $2M at the time.

Or am I reading this wrong?

>>53454909
brown dude:
>says gays are bad and women are inferior
progressives:
>omg what a creep!

entire brown culture:
>says gays are bad and women are inferior
progressives:
>omg what a vibrant non-white culture, we must import huge masses of these people into the West!

>>53454928
Lmao get a load of this virgin KEK

>>53454728
kek you see lots of shit like this when bubbles pop. this piece of shit will probably just be torn down in 5 years from infestation or weather damage after it has been through the foreclosure process

>>53454928

>>53455025
No one is saying a zestimate is accurate. The price moving up or down just indicates whether a market is moving up or down, that's it. It's a funny meme. Stop being a retard who thinks he's smarter than he is.

>>53454728
Btw this house looks like fucking shit. It doesn't even look completed until you really focus and realize that 'oh they actually wanted to do it that way'. Looks retarded

>>53455943
they don't actually have more money than you. in reality, they have a massive amount of debt which they can barely afford to service. many such cases when it comes to real estate shitters. whether it's small time operations like that pic, or massive landlord corporations, real estate is inundated with financially unsophisticated retards, perhaps the dumbest fucking gorilla niggers to have ever walked the earth.

t. jewslave accountant

>>53455025
look at it through the eyes of a normgroid
>poor as shit, invest 85% of life savings into a 5% down payment
>almost ALL of your net worth tied up in a plywood box with a 360 month loan
>interest rates so bad that you will buy the bank another home in interest payments
>house poor as fuck
>need to cope... HAVE to cope...
>proprietary black box valuations (zestimate) obsession it is!

>>53458054

Yeah at one point I was confused why houses were so expensive while incomes weren't going up. Then I realized that these niggers were taking out the maximum possible debt at every opportunity.

That's why any slight economic downturn is catastrophic-there's millions of people living paycheck to paycheck due to their ridiculous amount of goy debt.

>>53457259
Lol did you miss entirely where she caveated her “what a creep” with an “I guess it’s a cultural thing”?

>>53458099
last night i saw (on r*ddit) someone give advice to a young guy making $60k/year. he suggested the young guy could afford a $250k home. if you calculate this out with a 10% down payment, the PITI would be literally 50% of his take-home pay.

i called the guy a retard and explained why. he defended his advice. the normiesphere is full of people like this.

>>53458118
Hence "what a vibrant culture".
The whole point is that it's perfectly fine to hate gays as long as it's part of non-white culture.

>>53458119

Here's what I found fascinating. If you make the median income the median house mortgage payment is greater than 100% of your take home pay.

>>53458119
Yeah but he has more sex than you, the only metric which normalfags care about.

>>53454728
Real estate is literally just the rich man's way of playing musical chairs. Smart people stick with dividend stocks.

>>53454865
Wtf, 100% drop?

>>53454728
HELOC loans shall take the weak

>>53457653
>>53457895
>He only spends time with amish
>He does not get exposed to wine, antidepressant and dog loving sistas

>>53454728
Flippers are fucking subhumans. if you bought a house from a flipper, you would need to spend more to unfuck their cheap, half assed "improvements".

>>53458390
>7% interest

Please make it stop already

>>53456653
Pump and dump most likely

>>53459521
i don't understand how people tolerate it. even if you ignore the hidden corners they cut to turn a profit, the aesthetics are repulsive. if i see another house with gray floors and gray walls i'm gonna fucking lose it.

>>53459521
I feel the same way. They have every incentive to half-ass everything to look good temporarily.
Actual owners don't necessarily.

>>53459666
>wallpaper seller: what do you want?
>client: gimme that 2018-era ICO bootstrap header
>wallpaper seller: say no more

>>53455003
>middle of nowhere
>not turning it into linkie cult meeting spot where they can hold private meetings with sirgay and ask questions exc
>not milking linktards of their money and charging something like 1k link or above for 2 week outing with sirgay and chainlink labs

its like these airbnb'ers are just debtors with no creativity

>>53455702
ummm my zestimate didnt go down sweatie

Owning a duplex and renting out the other unit sounds great. Why are people so bad at vetting their tenants?

>>53454909
>i rent a duplex and i live in the other half
Imagine making major life decisions because you saw financial advice in a tiktok

>>53459719
yo, can you make my shit look like the Animus from Assassins Creed? That shit fire fr

>>53459666
Trips of truth checked

>>53458390
Wait if you buy a house for $450k at 7%, you pay a million dollars? $450000 + 7% is only 481k

>>53454728
>that exposed "industrial" ceiling
millennials were a mistake

>>53460132
i thought about doing the duplex meme but so many of them were clearly designed for poor people. shitty, cramped layouts because the wagie landcuck/rentcuck is never home so it's not like he minds.

>>53460461
>he doesn't know
The interest KEEPS ACCRUING ANON
THE DEBT GOES UP AS YOU PAY IT DOWN

>>53460461

Yes you do pay a million dollars.

>>53460461
You've done the math for one year of a 30 year mortgage

>>53458054

Hey man, how do we get corporations out of real estate? Essentially, how do big landlord corporations fail? Is it the market dumping that will do it?

Dying to know as somebody who fucking hates them

>>53460956
China had the answer to this in the 1940s, but America is afraid of it.

>>53460956
violent terrorism against the leaders of these corporations. or legisla -- HAAHAHAHAHA oh man sorry that was just too easy.

>>53459579
Ok, how about 10% interest?

>>53460461
>he doesn't know

Dont hate on flippers, they price niggers out of white neighborhoods

>>53460956

You literally have to kill them.

>>53461494
>muh heckin being gouged by jewish profiteers is BASTE UND RETPILLT
hey retard remember when racism used to be free?

>>53460522
thank god for Nick Rochefort mocking the idea so heavily and repeatedly that zoomers won't make the same mistake (ok, fewer zoomers will)

>>53455188
No

>>53459965
They don’t hire a professional to find them tenants. That’s the only thing my family uses a management company for. It’s cheap too. Under a grand for them to take pics, post it up on Zillow/Redfin, take applications and show it. They get the application money. My parents get a few dozen people to choose from. They pick the person who sounds the stablest, good recession proof job, more than one income, good credit, no criminal history, ect. My parents haven’t had a vacancy since the recession. Two extra homes are only a half a dozen phone calls a year.

>>53454928
My wife hates drinking

>>53460461
The interest is front loaded (meaning you do not pay into the equity of your home, you pay interest FIRST) and it accrues continually until the debt is paid. For example, my current home loan stats are as follows:
>$110,000 loan
>5.7% interest rate
Assuming I don't make extra payments to pay it off early, the total cost of the loan is $332,000. The bank will make more than $200k off of my home loan. Such is the cost of borrowing money.

>>53461590
cope

>>53459474
I will never put my child on medication
This is all a scam

>>53454728
flippers expect to make $200k hodling a hoom for a year with a $50k investment and 12x leverage. if you put it like that you see how delusional it really is.

>>53455159
actually you have a 80 year old house in a country where houses are only built to last 50 years. so the appropriate valuation is land value minus removal (or ground up renovation) costs for the ramshackle bust ass old hoom, or, in other words, maybe $100k if we're generous.

boomers are this fucking delusional. does a car increase in value with age? or is a 20 year old beater worth less than a nice bicycle? there is no reason a house should ever increase in value. everyone is ignoring depreciation costs and materials degradation. especially now that we're building houses with popsicle sticks and mexican chewing gum.

don't believe me? in japan, old houses from just the 1980s are nearly worthless and no one buys them. everyone wants the new houses, because old ones have fucking issues. people criticize japan's housing market for being "stagnant" but that's how a rational housing market truly does look. bust old dilapidated crack shacks that have suffered through 40 years of boomers farting in it, water damage, and shoddy DIY niggerrigging electrical work are objectively not worth as much as new construction. but look at our market in the US. new construction and 80 year old houses are priced the same.

>>53458390
>median citizen cannot afford median house even subsisting on nothing but instant ramen and library books
>this is fine
clown market

>>53462873
>objectively not worth as much as new construction
new American construction is clown tier.
You're way better off with a house from the 30s 40s or 50s

https://www.youtube.com/watch?v=lbIOrJ_PuKw&t

>>53463034
nice cherry picking. everything built after ww2 was domestic chinesium. if you buy a house built in the 70s it was built by retarded crack addicts with plastic and sawdust.

>>53460461
I know you're making a heckin funny but this is how average people think interest works. Remember when you were in school? Remember how the Almighty Standardized Tests never went past simple algebra? That was intentional.

>>53454728
Hi Nick Rochefort

>>53460461
you forgot to carry the small hat place and divide by the torah

>>53460474
The walls have exposed wires and outlets. The house is not supposed to look like that. Someone bought the house, tried to flip it for easy money and is now panic selling when they're not even done putting lipstick on the pig. Lol

>>53462904
Blame feminism. This was the rise of dual income families. You can’t compete with a stay at home wife or alone. You need a really good income as a man now. Suggestions? Get into labor. Unskilled labor is just going to get more expensive due to lack of babies. Even the immigrants won’t be able to fill the gaps. I recently started a no skill labor biz and consistently make $500 days with not even full time work.

>>53463295
Unfortunately true.

>>53463034
also, what do we think of these modern day sears catalog houses? there are a few companies selling prebuilts (some made of bamboo, some made of cedar, others various types of prefab). they can't be any shittier than contractor made stick frames and are usually cheaper. $300k for everything including legal, utilities connections, septic setup, electrical, whatever other shit to get it move in ready. only problem is navigating the red tape with local govt to get approvals.

>>53463435
fucking image

>>53463218
>nice cherry picking
there are a million local news stories like this.

https://www.youtube.com/watch?v=2k46g14WZFc
https://www.youtube.com/watch?v=NmhQn3HoLKE
https://www.youtube.com/watch?v=99vrYUnS1fk
https://www.youtube.com/watch?v=1C2UlMY9NPs
https://www.youtube.com/watch?v=hQJ9FiRN7mA
https://www.youtube.com/watch?v=6TwvayXCiDs
https://www.youtube.com/watch?v=Z0Dz40WOAn4

>>53463701
...i was referring to that your cutoff for well constructed houses was pre-ww2. they were relatively more well constructed than anything since, but you're still going to have typical old-house issues.

yes new construction can also be shoddy, take a fucking critical look around before you buy. but not all old construction is good, and even the well built stuff still has issues. and built after ww2 is clown construction.

>>53460777
>>53460791
Can you explain? I swear to god I have a masters in computer science but I don't get how that guy is wrong?

>>53463845
Basically it's like a loan that gets 7% added on EACH YEAR, not "one time" at the beginning. So the amount you pay is cumulative

>>53462344
To each their own but this is why 15 year loans make a lot of sense. They're overlooked because it costs more per month which means a person will qualify for less.
Yeah, you pay more but your interest rate, and you pay way less in total interest which means you
It might not work for everyone but it will force you to either save money and not overpay for shit you don't need or make more money.
Personally, I'm in no rush to buy but if I ever did that's probably the route I would take, at least for a primary residence. Probably one of the few things Ramsey and I actually agree on.

>>53463845
This is why they laid you off kek

>>53464044
>laid off
>in germany
yeah not happening

>>53458390
god i hate boomers

>>53463845
based retard. mortgage rate of 7% means 7% interest per year. but you pay your mortgage monthly, so you pay 7%/12 = 0.583% per month. rather than type out an example here, just plug the numbers into an amortization schedule like https://www.calculator.net/amortization-calculator.html

keep in mind that mortgages are SIMPLE INTEREST, as opposed as COMPOUND INTEREST loan. compound interest loans charge you interest on unpaid interest, which makes the loan balloon out of control if you miss payments or make minimum payments.

>>53455025
>The fact that 4chan obsesses over zestimates so much baffles me
it's a meme, you dip

>>53454771
lmao

>>53459719
hearty kek

>>53458390
>>53462904
To be fair median household income is $70k+ which can afford that example (arguably).
The downside is that probably 90% of people aren't going to be able to raise a family on one income.
This is an interesting time in history. I suspect things will go pretty fucking tits up because there is nothing sustainable about it.
Even with immigrant labor there's a big IQ gap.
For example, most technical college degrees require some kind of advanced math or science course and it filters out a lot of students. I'm not sure how the bottlenecking of high income jobs that can actually afford anything is going to pan out IRL but like I said it's not lookin good.
>>53463295
Can you give more info on this

>>53464276
>To be fair median household income is $70k+ which can afford that example (arguably).
$70k/year household income would be lucky to afford a $180k house at today's rates. kek.

>>53454728
Can I dig a hole in my yard and rent it out as airbnb? I can dig a few

>>53463802
stuff from the 50s and 60s is alright too.
The house I grew up in was built in the late 40s and even with TONS of abuse its fine.
same thing with my dad's house that was built in the 1950s.
which is having its first renovation since it was built.

NOOOOOOO NOT MY ZESTIMATE ON MY UNFINISHED BULLSHIT FLIP JOB NOOOOOOOOOOOOOOO

My house is still up 30% from when I bought in 2017. But even then it was way overpriced. Payed 140k when it should have been 105k tops IMO. I don't plan on even selling it anyways so I don't care if its up or down. I'm going to let my children and nephews live in it when they're older so they don't need to rent or take out loans from some kike

>>53464276
Median earners are also not the entire market for homeowners. It includes a lot of dual income familes or just well(er) off families where one parent has a better job. The median salary reflects entry level professional in most cases.
And while what you're saying is true there is a catch to it: it is only true that the numbers are off in these large metropolitan centers where the labor market is skewed in favor of demand. Throughout the rest of the country the median salary to mortgage is much closer as well as purchasing power. Take Florida for example. Pre-2020 it was booming while still having an overall low COL. Post-pandemic you have places like Tampa that had a huge influx residents who raise the prices of homes dramatically while eages stay the same i.e. increase the labor supply while demand stays relatively the same due to infrastructure and business lagging behind.
For bleakpost blackpill example look at SoCal where the median salary is nothing compared to the median mortgage. SoCal also has an insane labor surplus.
Not all of economics is bs or useless, just most of it. This also applies to the
>feminism is a capitalist ploy
Meme which isn't a meme ironically.

But yes having to pay 1 million dollarydoos for a median priced home is why the market is at a standstill. Fucking no one can afford these prices with the interest.

>>53454771
>middle of nowhere
>winter
>michigan
Sounds like a great place to visit if you like alternating -18 deg F with 2 feet of snow and 33 deg F, rainy and cloudy, alternating, for months on end.

>>53464032
The move i think is still to do a 30 but make extra payments. We took more than 10 years off our mortgage just by adding the eq of 4 extra payments per year...ie...adding a few hundred to each payment which goes directly against principal.

>>53464032

Problem being is that everyone fell for the "housing only go up" meme and everyone went super risky causing a bubble. Now everything is crazy overvalued and you're paying 5X what the market can reasonably support.

>>53455188
It's case by case, a new house built to something like passive house standard is much much better than any old building

>>53464914
it was sheer greed on everyone's part. goysumers were willing to go full retard on debt load to get a house and knock another lemming out of their place, so in a massive race to the bottom the masses got in bidding wars just to undercut other people and get the shiny thing, which drove up prices. none of these people acted responsibly. they're all housepoor now. the first time they get a layoff they're going to lose the house because they have no safety margin. and the people who got fucked over and stuck in renting were those responsible enough to not be willing to put themselves in debt up to their eyeballs to get in on the house buying spree. it sucks for waiters right now beccause rent increases fucked them, but in the long run they'll be the only ones not getting their shit wrecked in the neo-2008 bubble burst.

works the same way for labor. say a typical salary for a position is 80k. but someone decides to undersell themselves for 75k just to ensure they get the position instead of someone else. it triggers a race to the bottom, and eventually that position only has to pay out 50k, and now everyone is poorer for it.

we can't have nice things because most people are short sighted greedy idiots.

>>53460461
Here's your (you)

>>53454771
Skiiing hills in Michigan, Kek.

>>53461460
None of them do

>>53454771
>30-60 minute drive to ski resort
The best he can hope for is hunters and fishermen.

>>53465087
>rent increases fucked them
Good news, last I checked rents are falling in most areas.

Flippies get the rope

I wonder if they started tearing it apart and found a major problem and decided they didn't want to sink the money into fixing it?

>>53464044
Correct LOL

>>53454771
>There are eight different typs of wood in a single frame in the kitchen
Jfc you yankees are insane

>>53463218
Not really. I have a 60s house, all copper wire, copper pipes, rock solid timbers, poured foundation that has settled and survived multiple earthquakes. Yes there are a lot of houses that will have problems but if it survives the first 50 years relatively unscathed it has a much higher probability of lasting the next 50 years.

>>53454847
It's 1,000,000 down and not even finished in it's remodel.

>Cope
>Rope

>>53464890
Kek, I'm on a 15 year but I set automatic payments to be about 15% more than the regular payment in order to shave a few years off, and I just noticed the bank changed it back to the regular payment amount at some point.

>>53455943
They’re literally drowning in debt and thought their cozy getaway shack in the middle of bumfuck nowhere would sell for a bajillion dollars because some vague figures said these totally unrelated buildings outside of a big city did. Keep in mind just how much debt the average person has nowadays, repomen probably have some of the best job security one could ask for. We’re just seeing decades of mistakes about to rear its ugly head for all to see, and you better believe the Bogdanoffs will spare no one.

>>53459521
It’s literally like that South Park bit where they knock down the kitchen and living room wall and then just paint everything white and grey

>>53458427
until the bank takes their house back. have grass

>>53467958
The normalfag would definitely still argue that he's better off having fucked 50 fat chicks in the house he lost than you who owns a house, because sex is all they measure their miserable lives on (and is why they fuck fatties/uggos to get their count up).

>>53459474
Lmao
Holy fuckinh cuck ahhahahah
Fucking retarded snow niggers

>>53454728
only americans would pay 1M to live in a literal cardboad

>>53465005
>a new house built to something like passive house standard
what is this ESL gibberish?

>>53463458
>>53463435
my mom was looking into them a while ago.
You know what you get and for what price.
Which is nice.

Building a home is a pain in the ass.
Especially here in California.

But if you want things done right.
Hire and supervise the people yourself.

I can't speak to quality. But modern construction sets the bar so low.
I suggest you do your own research.

>>53454728
Good. Crash it. And make it illegal for hedge funds and property managers to speculate on single family homes. Fucking bastards.

>>53468888
checked
crash confirmed

>>53468888
Checked

>>53464570
based mineral wool insulation enthusiast

>>53468991
all the walls are being soundproofed.

>>53454771
What do people have against normal rentals?

>>53454928
>If a man chooses not to drink, he still has to have alcohol to offer to women because they will shun him if he doesn't
lol what kind of retarded shit did you just type? So you generally have alcohol because you think every women will shun otherwise?

What does biz think of buying a condo?

>>53470745
It's like living in apartments. You can hear the neighbor's arguments word for word when it's quiet.

>>53470810
I live in an apartment now, so it won’t be worse. But I meant financially speaking. Should I stay in my apartment and wait for a decent house, or hop on this condo I saw? As a bizraeli, I don’t have a wife or kids. I’m tempted by the price and the potential for having some equity in something.

>>53468888
Oy vey

>Housing goes up
>Zomg Becky have you checked my Zestimate? My property value is skyrocketing!

>Housing goes down
>Becky, you know, Zestimates aren't indicative of market performance and are aggregates. The true listing price varies greatly.

Keep seething, roasties. MBS is 0% in collateral value now and all those junk contracts never went away and now the Fed is dumping them on your broke asses.

>>53454728
I wouldnt pay rent even if it was $100 I will live in my truck and couch surf and theres nothing you can do about it

Stop believing in rent as a concept at all, grow a pair

>>53470839
>financially speaking.
my mother lives next to the septic tank and they try to charger her every time it's full.

>>53471743
>it's full
they don't work like that, unless something is wrong with them. my parents went 20 years before having their septic tank pumped due to sludge buildup. you're supposed to pump them every 10 years but it's not strictly necessary if everything is working correctly -- the bacteria eat the sludge and the liquid piss and shit water filter into a leech field.

>>53469943
The government may decide that your tenant does not have to pay you rent for months or years

>those exposed ceilings
>dogshit architecture
>couldn't even be arsed to wash the outside
>2m
Do mutts really

>>53471876
Yeah, that's how easy it was to sell a house for the past few years. The easy money is over though.

>>53454728
>ca

>>53464890
You're paying more in amortization than a 15y would

>>53461524
>>53461239
>>53461184
what about a diplomatic and peaceful solution ?
violence is for niggers

>>53454728
house prices are still elevated though

>>53458073
rofl thats fucking brutal

>>53458073
Probably the best break down I've seen for the Zestimate obsession.

>>53454928
>t. muslim
Fuck your gay religion
lesbians are superior to you even though homosexuality is wrong

>>53454728
Bump

>>53476389
kek. i live in the suburbs of philly. i should find out where this faggot lives so i can drive his cash flow even more negative with random acts of vandalism.

>>53459666
Reminds me of a house I saw where there was a tiny-ass bathroom with a toilet and a sink crammed right in front of the tub, and then doors leading to two different bedrooms right next to them. It'd be tricky to get in and out of the tub, and there's nowhere to put the toilet paper except maybe on the tank behind the toilet.

I wish I could find a pic of it, I can't imagine anyone bought it.

>>53455188
The most retarded boomer post live on biz right now. You're feeble boomer mind can't even comprehend how superior modern plumbing, insulation, subfloor, electrical, etc is. Yes there are retard boomers like you that pay Pedro and Felipe to slap up some fucking garbage but if you actually know what you're doing you could make something far superior with what we have now.

>>53476925
it would be difficult for anyone to wipe their ass in this "bathroom," let alone an old or obese person. kek.

>>53458390
>7%
You're not getting 7% on a house right now I promise you that.

>>53476823
that would be epic. you could try to DM them and ask about buying it, guarantee if they read the message they would be hype to share the property details. once you have the address the games can begin.

I'm still up far enough that my equity exceeds the remaining mortgage. If I can just have one decent year slinging shitcoins I can pay it off all at once. Being a debt free hoomer seems so comfy.

>>53477167
i searched his comment history... it's a 1 bedroom condo in delaware county. what kind of a retard buys a condo to rent out.

>Buy house in good neighborhood but it's horribly kept
>spend a couple weeks cleaning it up and mowing the lawn
>I'm now $100k richer
This whole life thing is really easy, you guys have fun working at mcdonalds I guess.

>>53477289
>what kind of a retard buys a condo to rent out
worked well for my family back in the late 80s and early 90s. Don't know about today.

>>53454908
>>53457244
You have to see the price and tax history under it.
Real estate sold it for 1 million 50k after cutting down 100k from the price.
The owner then sold it for 1.1 million a year later.
The 2 million value is half a year after that and went down to around 1.5 million.
Now here's the kicker, it was listed at high 900K that means the guy is a boomer or a retard.
He cut the value himself by placing the price tag and he's still cutting it down, might go under 900k next week.

>>53455188
>Insulated concrete forms have entered the chat

>>53476389
>Need $1700 to stay cash flow positive
>Pre-covid rent was $1200
Who lends these retards the money?

>>53454909
i did this once, but it was in the forest

>>53454728
Everything in life has a chart with booms, busts and crabbing into infinity

>>53454728
Stop relying on the market.

Take land and build on it or take a shitty house and improve it. That is how you return a profit.

Renting only aims to pay off your mortgage and has no guarantees, stop being lower form scum and actually provide value to the thing you are trying to profit from.

The only way to profit from renting is to treat your tennants like shit and avoid repair costs.

>tfw casually browsing Zillow for a home to buy with cash
>All of the listings are from flippers who just remodeled the interior of some shit hole with the same exact soulless dark colored hard wood floors, gray paint, and granite countertops
>Outrageous markup

Flippers deserve worse than death

>>53454771
if its so nice why doesnt he live there

>>53477957
the cunts seem to think landlording is free money and feel entitled to a return on investment. no one understands what the risk reward tradeoff is... they ought to teach microeconomics 101 in high school, which is all the schooling these morons seem to have attended.

on the other hand i do enjoy seeing landlord scum losing their shirts.

>>53455943
They took on all that risk at the peak of a generational top. Be grateful you’re not them right now.

>>53460956
why not just buy their stock instead of seething?

>>53478179
maybe I just wanted to have a life instead of trying to enslave humanity by preventing ownership

>>53478179
you can't live in a stock certificate.

>>53476979
>>53477927
I'm talking reality. Not some made up fiction. Old construction is better than new construction.
new American shit sucks.

>>53476989
Pottstown is a smoldering wreckage of opiate addicts, white trash, and black sections that give Baltimore a run for its money. It is a town totally in decline. I moved away in 2018 and every time I go back and it is shittier and shittier. The Coventry Mall is like something out of the 3rd world.

is blackrock gonna enron out when the housing market fully collapses?

>>53454888
Where the fuck do you live?.rent is not dropping

>>53480351
rent is absolutely dropping

>>53480368
>dude trust me
I ran comps yesterday and they went up. You're dumb.

>>53480368
rents are getting soft in all the places no one really wants to be. but got overheated with last years HOUSING TO THE MOON nonsense right before they started raising rates. Places like a Pottstown. The real drop in places with an actual redeeming quality is going to take more time. It is always the undesirable locals that drop first.

>>53463218
>70s
>crack addicts

>>53454728
Brutal. Not sure about the local market but this is a total shitter for that price, $1m could get you a dream home in 95%. Its been completely stripped out if you look at the pics. It would be messed up if someone from here went there to rip out the copper pipes for profit.

>>53481259
Like I said, it would be really messed up if someone stripped the $1000 of copper wire and piping in this house overnight.

>>53454771
nobody wants airbnbs any more because they've wised up to how it's a scam with a bunch of hidden fees. I look forward to every "superhost" going bankrupt.

>>53459666
Why do burgers still put these "old style" cabinets in their kitchens? This is so bizarre to me.

>>53481340
What are the cabinets used in your area?

>>53481578
Idk just regular flat face cabinets, there's no ornamentation. Seems like an unnecessary decoration in a functional space that is kitchen.

>>53476401
that.. that doesn't make sense

>>53480285
>The Coventry Mall
Checked
https://www.youtube.com/watch?v=cJNoL5NruW0

>>53481729
I don't think functionality when I look at "modern" kitchens. Its all just styling. People want minimalism, safe colors and live love laugh texts on the walls. Its just the normie lamb taste.

>>53455612
this anon buys low. I know this feel, it's pain.

>>53480285
walking through the front doors is a fun experience. you can immediately tell it's empty and dead. you'd think they would make the entrance busier... but no.

and yeah i'm fucking coping, trying to find a house within 30-60 minutes of DA CITY and DA MAINLINE. if i can't, my cope will be buying a $150k shit shack in scranton or wilkes-barre.

>>53454728
>thread up for 3 days
Biz is so dead. We must be at the bottom

>>53469943
Normal rentals are OK, what's not OK is that you can take mortgage, and make your tenant pay for it double the amount. It's literally a useless parasitism.

>>53454728
It's just a gully

>>53464570
>this is your brain on lead paint
Whew lad

>>53481729
this looks stupid. How do you open them?
inb4 there is some shitty "push to open" mechanism that will break after a few years

>>53483639
he's not wrong about older stuff being okay, but it's like anything else: if it's maintained by a negligent retard over the course of years or decades, it's going to be a pile of shit. if you find a reasonably well maintained mid century home, it was probably built with more care and understanding (even with their technological limitations) than the average Shekelstein Development Group new construction, put up by a team of $10/hour 85 IQ illegal immigrants over the course of 12 weeks.
>that'll be $537k plus tip, goy

>>53481729
as far as I know the only place you can get cabinets like those around here is ikea and they are not cheap

much easier to just paint over cabinets that were put there in 1970 or whatever

>>53464137
That'd be illegal, at least in Italy and most likely the major part of the world.

>>53481313
>with a bunch of hidden fees
..and cameras and microphones.
Check out the films 13 Cameras and 14 Cameras and you will never rent an arbnb ever again.
https://www.imdb.com/title/tt4392454/

>>53455003
He shouldnt have bought it in the first place.
Should have left it available so a local could have a chance to buy it

These "investors" that bought up all the single family housing deserve the rope

>>53455025
>4chan obsesses over zestimates so much baffles me.
It's a meme, retard. I doubt too many people are taking it seriously. But in the absence of getting an appraisal on every random house for sale your never going to look at anyways, the zestimate number becomes a talking point.

>>53481729
That looks like shit imo

>>53458549
based

>>53476389
These parasites deserve the rope.
End of story

>>53484206
no thanks this looks shit

>>53477600
zestimate is shit but still the price is set because nobody's buying

>>53481259
>Not sure about the local market
extremely expensive. Like 1000-1500 a square foot expensive

>>53454728
unironically a great deal. flyover fags seethe.

>>53481729
>you vill live in ze walmart break room

>>53454728
good need to see these fags suiciding by cop or freeway overpass jump. then the market can heal, same for airbnb’ers.

>>53470745
>>53470839
Bump for more input. Can’t believe this thread is still up

>Make $60K USD in Canada
>tfw can't afford a $285K appartment 1 hour from toronto

>>53483097
I was just going to say this. The economy is truly dead, all that's left is gambling with leverage on bullshit.

PM's, Nat Resources and commodities are the last ride before the collapse. But it's boring and unsexy, so nobody wants to hear it

>>53477957
>>53478150

Its the age old history of midwits thinking that becoming a landlord is getting a mortgage and letting the cash flow, cunt should be happy she´s only putting 300$ out of her pocket for a 1700$ property

>>53476989
1967 square feet (182m2)
you gigantic niggers
that would cost you 600k in Eastern Europe
picrel 129m2

>>53455018
Imagine this guy going bankrupt because he was too over leveraged in housing. Holy shit that would be the funniest thing ever.

>>53454909
> Have a beer bitch lasagna
> Clean my mattress too, while you're at it
> And one more thing...Fuck homos
It's for you Irananon

>>53477957
lol the insane thing is this is still happening with places that have exchanged hands 3+ times since 2019, its RE bag holding hot potato

It seems like a better idea to just buy some cheap land and build the house yourself. If you're competent you can learn everything you need to know on the internet.

>>53477263
It is comfy anon, and don't let anybody convince you otherwise. I finished paying off my mortgage about 2 years ago, before interest rates were shooting up, just because I didn't want to have a mortgage in general, or being exposed to interest rate raises, which I thought of as inevitable. Was basically laughed at by anyone I told I was paying off my house early instead of doing the normal mortgage duration and investing instead. Now interest rates are fucked and the stock market tanked. I couldn't be comfier, dumping entire paycheck into a low market while living for free.

People just seemed to think the historically record low interest rates (national bank here was at 0% for a little while) was gonna last forever. Anything's obvious in hindsight I guess, but wtf.

>>53484206
>>>/tv/

>>53454865
>>53454908
>the zestimate

>>53486406
bro

no

>>53486022
I've argued for years that it died in 2008.

>>53464914
Yeah it's kind of a situation where the solution to the buyer side bandaid to the problem just compounds the problem.
>>53459474
>a person making a tiktok going over other girls' med dosages while they stare at their phone
Hmmmm I WONDER IF THOSE THINGS ARE CORRELATED
Imagine taking meds because 'normal' life is too psychologically and emotionally stressful on you.
I wish these people could actually handle introspection and critical thinking. Maybe we could get somewhere as a country if everyone realized how completely fucked up it is.
>>53481340
They're just cabinets bro. They probably are old and someone just painted them. Incase you couldn't tell by the paint.
>>53481729
Looks like the set of some gay netflix original movie in the future with a black woman as the lead character

>>53483097
Enjoy it while it lasts because this thread is actually comfy for what it is.
>>53484212
Facts
>>53486406
>just build your own house
>by yourself
>by learning everything on youtube
Let us know how that goes

>>53488063
Lots of people have. the past 15 years has been life support.