/biz/ - Business & Finance

do you think they could pay rent if they had a discount? perhaps they need a 100% discount

>>54128862
Steve is a dumb hipster faggot. I hope he drowns in debt

renters rent because they're retarded

>>54128862
$100 says Steve is a fat lazy cunt

>>54128862
what happened to making a profit when you SELL the house and not antagonizing good tenants in the meantime? so many people in way over their head with this shit.

>>54128862
He’s just doing what Australians are told to do

>>54128862
He's basically 12x leverage trading but with real life tangible assets.

Anyways if he can hold out for 5-10 years he will be fine and laughing on his stacks of cash. (Joking he can't because he went for 12x)

>>54128862
How do you get approved for 12 mortgages?

>>54129101
financialization / mortgage backed securities.

>>54129101
first one is free, the next one uses the property he is renting out

>>54128862
This is the australian end game, we will turn into a total shithole where no matter if you're renting or mortgaging you're a life long bank slave, fucking hate this place.

>>54128862
On a brighter not energy costs are about to increase 25% lol
>no renty you cant just not pay rent or can you?

>>54128862
>He took out 12 adjustable rate mortgages in a hawkish environment

It's really funny that after American real estate and banks got btfo in 2008 Australia and Canada collectively thought adjustable rate mortgages were an even better idea than before

ZERO

>>54129101
chaining collateral

>>54129101
just be yourself

>>54129262
>Stay humble stay hungry shirt
These are the type of people who get justed into oblivion

>>54129262
https://youtu.be/s5mYCemlflg

Stupid fuckers lmao

>>54128884
Steve aint a hipsters mate, the cunt is 70 years old

>>54129262
Is this the housing equivalent of going in 50x long on BTC except over a longer time frame?

>>54129357
Justed to interdimensions, even, where the machine elves do naughty things to them.

>>54128862
>His many mortgages are going up - fast
Kek. Always blows my mind when I remember that adjustables are still thing in other countries

>>54128862
>his mortgages are going up
>they aren't fixed rate

>>54128862
He bought the top in the covid boom, this mfer was at open inspections while we were locked up to save the world, and thought he could milk normies. Get fukt.

Hinestly never buy a house unless you can put 30%+ down.

>>54128862
if there is no punishment for these people they will never learn.

>>54129780
You can't get full term fixed mortgages in Oz, NZ or Canada. Max is 5 years fixed.

>>54128862
>>54128914
>>54129010
>>54129262
>>54129826
>>54129895
the property market is pumping again in australia. no homers are just seething.

>>54129101
You use the equity from one house to put down on another.

For example if you have a house with 40% equity you use 20% to cover the down payment on the next property.

Because in boomer logic houses only go up it means you can buy more houses.

We also have a policy called negative gearing where people can claim the losses in rent vs mortgage repayments on their income tax. It's very Jewish.

Oh and in Australia we don't have fixed rate loans for the duration of the loan they only get to fix them for a few years. Which means all the retards that bought at sky high prices and didn't consider rates increasing are mega fucked now

Most of economy is just mining and houses it's hilarious.

>>54129610
exactly this

Hi, I'm responding to the ad for the rental home.

>doing mortgages
>ever
if you can afford 12 mortgages, you could just pay cash, this is pure recklessness

You can always tell immediately in these threads who works in a job with only low or medium income or simply lives in the country. Owning a house is simply the stupidest thing ever for people with a career. I have a C-level position in a large company and have changed jobs and locations four times in the last 10 years which is still comparatively little compared to others with similar careers. A house would be an anchor that I would also have to take care of additionally. I rent high quality apartments or penthouse near the job. Houses are only owned by people who live where they grew up and then die later. Mandy from administration or Bob from accounting. The only house I would buy is a vacation home.

>>54128890
>make 120k in California
>rent around 2k
>mortgage in a good area around 6-8k

I can literally rent throughout my career and save up enough to buy a house at the end of it. I see the retardation in that, I'm just not spending that much. I'll wait for a crash.

>>54130204
This is true almost everywhere. I live in Helsinki and pay 1.5k rent. Mortgage for the same sized apartment would cost me 2.5k to 3k. It would take me almost 30 years to pay it back and would end up paying 200% of what I loaned

>>54129826
I put 0 down as i had no savings but did have a contract showing significant income. Paid the loan in 6 months.

>>54128862
>Renters rent because they can't afford mortgages
Hey asshole, you think landlords are renting at a loss? Are you fucking retarded? Renters rent for 2 reasons: they don't want to own OR they can't pull their heads out of their asses long enough to save for a down payment.

>>54129262
Why do they all look like various iterations of Der Coomer?

>>54128862
something about real estate attracts the dumbest niggers to have ever walked this earth. i work in corporate finance and can say with absolute certainty that i have never met a high IQ landlord. whether it's a small time individual or a large corporate operation, they have always been run by financially illiterate drooling nigger retards who have absolutely no business sense or ability to forecast the future. i think it stems from the bottom of the barrel lending standards that exist. you don't need to be smart or wealthy to access 4x (or greater) leverage, mortgage lenders hand out these loans like candy to retarded children.

>>54128862
>renters rent because they cant afford mortgages
>rent is 2100 month, mortage is 1500


I cant wait to kill all you greedy crypto-kike white capitalist scum. Your greed and sins will find you out, be sure of it

>>54130194
You have no home because you belong nowhere. Like a gipsy. Or a nigger.

>>54128890
>buying a house during a bubble
>locking yourself into a property and having virtually no flexibility to move if necessary

>>54130194
Choose a profession by all means, but the day will come to put your roots down. Become irreplaceable and you won't have to change locations at all.
I could be CFO making 3x my salary but I'd rather live in a nice house in a nice place and raise my children and serve my local community.
But then again, everything you said makes total sense if you're a degenerate faggot.