/biz/ - Business & Finance

>>56137894
we are not buying your homes at zillow value stacy, go back to your femcel board

>>56137894

NO NO NO MY ZESTIMATE SAYS I AM ENTITLED TO THIS PRICE

I have a few couples I'm friends with and anytime I visit, their wives give me a cope speech about how their Condo was such a great bargain at $700,000+, despite being a 30 year old building in a crowded smelly expensive city and their payments including condo fees have nearly doubled in the past year. I just nod and pretend to agree, but I can see it on the husbands face they are typically not very confident in their purchase and don't particularly enjoy their tiny one bedroom condo.

I also read that to qualify for a house/condo in Canada, you need to be in the top 5% of salaries, which just seems absurd to me. I am a high income earner, I COULD get a condo, but when 19/20 people are PRICED OUT of the privilege of getting robbed blind - that raises some questions and reflags with regards to the supposed health of our economy.

honestly at this point, its not worth buying a house or condo in any major city. The prices are highway robbery. I refuse to believe that 1/20 people who are doctors/lawyers are willing to sign off unto such an awful investment, while the rest of people just rent. It has to correct and crash, I just cant fathom a timeline where this continues much longer.

Flip side of the coin, I bought a real asset with your monopoly money, which will be worth shit in 30 years.

>>56137956
something that cash flows negatively and depreciates over time is not an asset. thank you for playing.

>>56138011
You're saying that the housing depreciates over time? And cash does not?

>>56138011
I seen a lot of Tommy Boy posting lately. What's the deal?

>>56137952
My Canadian friend from Mississauga had a $600k budget and the best he could find was a townhouse. Imagine the smell.

>>56137894

Housing market will never crash. There will be no correction. This it the new paradigm.

>>56137952
If you pay more than $200k for a condo anywhere you're fucking retarded.

>>56138048
You bought a card board box that you’ll only ever be able to sell at a loss, and the longer you hold it, the more you’ll lose to taxes and repairs. You bought the top. Thanks for playing :)

>>56138048
The structure depreciates yeah. The land might appreciate but at this point people have so overinflated the price of the structure it would take decades for that to catch up.
And "cash flow" doesn't have anything to do with that. The question there is: can you rent it for more than the mortgage/maintenance costs and the answer for most things is "no."

>>56138417
places that have any significant amount of condos don't have any lower than $300k. Places small enough to be valued around there only get rented out.

I'm going to live in my intergenerational shack until it literally falls down.

>>56137894
Only retards rent.

>>56138385
its a good biz movie

>>56138582
i dont like stacking illiquid liabilities.

>>56138563
I know what I said you don't need to read it back to me.
>>56138582
Lol, not now.

>>56138587
>Nepobabby retard ends up learning to sell, exposes his biggest rival, saves his family's company, and even saves the town in which it's located
Maybe you're right.

>>56138582
Kek baggie

>>56137952
Trudeau sold all of Canada's gold. You're all effectively international debt slaves because of that. The insane prices are your lands being pillaged by outsiders.

>>56138433
>The structure depreciates yeah. The land might appreciate but at this point people have so overinflated the price of the structure it would take decades for that to catch up.

Depends where you live. I paid $560 for a house on a quarter acre in the city. A couple of months ago, an old decaying house on half an acre on my street sold for $1.05m, so the land value my house sits on is probably close to my purchase price.

I have the shittiest house on my street that has some $2m homes and $900k townhouses

>>56139173

location location right.

>>56138420
Cope, they will never offer interest rates near what I got in your lifetime. NGMI

>>56139285
Yeah. Especially because in my location the zoning laws will update next year. Whoever buys my house will demolish it and build a 6-plex

>>56139320
Cool good luck selling, assuming you’re not larping. Either way, Thanks for playing :)

>>56137952
>Canada
You made your bed, now it's time to lie in it.
Vote liberal.

>>56137894
>You are already underwater.
Homes are for living in, not for speculating. "Underwater" doesn't mean anything to real humans.

>>56137894
Specilation, "investing" in homes, living from the work of other without producing anything is very bad for the economy - these people are just parasites, Hitler would agree also - money should be tied to work and not to the value of something. Renting shouldn't even exist as a concept because it literally kills the economy in the long run, just so a few people can make some money and not work.

Though just go live in a lands.0ys apartment and not pay bills/anything, they can't move you out until the court issues a permit for this and it takes literally years, it's just that most people are pussies and rather pay the goy tax.

>>56138582
t. about to be rugpulled

>>56137952

I live in bumfuck Minnesota and normgroids are paying $500k for a shitbox on an acre that cost $150k 3 years ago

>>56137952
>refuse to believe that 1/20 people who are doctors/lawyers are willing to sign off unto such an awful investment,
There must be one or two who've bought one historically that use them as sweet bug out locations from the wife, kids and parent in laws.

Just say you've got some conference to go to, answer the calls so she doesn't get suspicious, then crack open the beers and light the bbq up in the front room. Feet up on the coffee table mind as well. Pure bliss.

>>56137894
Looks like I’m gonna have to sacrifice my 401k

>that anon who brags about being born in 1989, buying a house with his gf in 2019 and getting married in 2022 and thinks he's superior to the rest of 4chan

>>56139604
Listed my house I bought in 2019 to sell yesterday and already have a dozen offers.

Did absolutely nothing to it. Offers are minimum $100k what I paid for it.

>>56142152
>>56137952
Just remember that these are the same people who tell you how based they are for making 200k a year and having a fat wife and a crappy house.

>>56142339
You can still get cheaper houses anon. But you also need to be willing to do more than just select which overpriced paint the kitchen is going to be done in, but someone else.

There's an immense mark up on recently decorated houses and their initial cosmetic appearance. The person next door but one paid literally double for theirs just due to it being refurnished. Whether or not they bothered to fix anything else along the way is an entirely different thing. And the answer is quite likely, no.

>>56142626
>You can still get cheaper houses anon. But you also need to be willing to do more than just select which overpriced paint the kitchen is going to be done in, but someone else.
Yeah bruh I know about the empty 200 year old shacks in northern new hampshire, but I'm talking about houses near jobs that people actually want to live in.

>>56137952
>DUDE EVERYONE BUYING A HOUSE NOW IS RICH YOU'RE JUST POOR THEY'RE ALL DOCTORS, BIG LAW LAWYERS, DENTISTS, SUCCESSFUL SMALL BUSINESS OWNERS, DIRECTORS AND VPS IN LARGE CORPORATIONS, LOTTERY WINNERS, PROFESSIONAL SPORTS ATHLETES, TRUST FUND INHERITORS DUDE THEY'RE ALL EXTREMELY RICH AND THIS 95TH PERCENTILE INCOME IS IN FACT EXTREMELY COMMON. EVERYONE IS RICH JUST MAKE MORE MONEY BRO EVERYONE ELSE IS DOING IT ______LITERALLY EVERYONE ELSE_______ JUST MAKE MORE MONEY BRO

>t-two more weeks!
>foreclosure stockphoto.jpg
It will never crash.

>>56143244
Based I make insidious commentary like this on various message boards and social media outlets

>>56139775
Well seeing as a lot of new economic stimulus is entirely based on people using their homes as collateral for spending it kind of becomes important

>>56137894
お前はもう水中に入ってる.

>>56142390
Where do you plan on moving to? You made money but everything went up in price proportionally. I’m genuinely curious as to what people do in this situation

>>56138402
>Canadian friend from Mississauga

So pic related?