/biz/ - Business & Finance

>>58191958
retard

>>58191958
Where I live there is no property taxes and home insurance is optional

>>58191958
Normies will take on $400k in debt to buy a house and will somehow feel as though they've obtained an asset, and not the largest liability of their lives

>>58191981
You're probably the retard

Once you factor in the expenses of home ownership, you will realise that renting is actually cheaper in most large cities. Houses are hugely overvalued.
>but renting is throwing money down the drain!
What about interest payment on your mortgage? Your maintenace costs? Property taxes? Add them up and they won't be far behind the cost of renting.
This is not to mention the flexibility in being able to move where/when you want

>>58191958
>>58192388
Show me one truly rich person that is on rent

>>58192388
ok let's see how much value you keep in 10 years, oh yeah, none, property has been going up since the 50s, the only reasonable move is to buy, being able to afford it is a different thing

>>58191958

You do realize you're paying all your landlord's taxes, insurance, and other expenses, plus his profit on top of that, right? People don't go through the hassle of renting out homes when it's not making money. The rent they charge has to cover all their costs, otherwise why would they even be bothering.

Nothing wrong with renting short term, but long term it's a bad play. Home equity is a big part of wealth building for most people.

>>58191958
Houses are luxury goods, either u can afford them or not

It's a matter of lifestyle and quality of life, sure you'd probably more efficient living in some shack or even sleeping under a bridge so you can save even more money by not paying for rent or morgage but myself i like the feeling of owning things others do not just because i am able to :)

>>58192433
The money that you put down for the house can earn a return that will keep up just as well with the value you gain from appreciation of the home.
Once you factor in compounding returns, the rentchads come out on top (in most large cities, which is where the big salaries are anyway)

>>58191958
sweet vishnu that brapper on the biche

>>58192478
ok, sure, btw, where is my rent?

>>58192461
How about when you factor in the 100-200k you need to put down, upfront,to get the house in the first place? And the opportunity cost involved in having that money tied up for 30 years?

Also hat you said is actually not necessarily true. In many cases you will find people buying homes where the rental income is less than the expenses of home ownership - they figure that they will make up the difference in the appreciation of the house.

>>58191958
does that bitch have an onlyfans yet?

>>58192519

That's a fair point, although I can't imagine someone staying a landlord for very long if their margins are that thin or non-existent. The last couple years were an outlier, housing does appreciate but usually not 30% a year. Some people don't have a mortgage either, I own a home outright that I rent out and the rent is less than what a 30 year fixed mortgage with 20% down would cost per month at current interest rates. And that's not even factoring in taxes, insurance, and other repairs. COVID just turned everything topsy-turvy.

>>58191958
god damn i NEED to pound on that

>>58192668
>COVID just turned everything topsy-turvy

It is by design anon. Remember when they said that we will own nothing and we will be happy? This is what they mean.
Buying a home has been made financially unviable for most. So we will rent.
Same with buying a car - we will lease.
Everything will slowly begin to move in this direction. Ownership of private property will be for the elites. Everyone else will rent/borrow and live as serfs.

Btw congrats anon, if you own your house with no debts on it then you have pretty much already made it.
>(until they keep raping you with increasing property taxes to the point where you can no longer afford to keep it and have to sell it to blackrock and rent like the rest of us)

>>58192519
Join the military for 4 years and then get the benefits of a VA loan with $0 down and free college. One of the best financial decisions you can make at 18 years old.

>>58192419
They either inherited the house/money because they were born rich, bought the house with good timing under different economic conditions 15+ years ago (not bubble peak with 7% interest), or got rich first then bought a house after making it.

>>58191984
what country do you live in

>>58192540
she does actually have an OF but its empty shes never posted anything onto it. Opened it in 2022 I guess Covid was fucking with her revenue and she nearly showed her pussy for it but we didn't quite get there brahs. Only way to get in this girls pants is to be a jap I think

>>58192373
i own my home outright

>>58193215
"own"

>>58192419
Literally all of them, rich people don't own in my city, they rent a super nice condo for work and own an asset outside the city in cottage country.

You need to factor in a lot of things when you want to know what you really pay pr. month for an "owned" home.
You need to divide all the expenses of your home out on all the time you own it.
Things you need to calculate:

your whole mortgage with everything included, all the interest you need to pay on your mortgage etc. until it's completely paid off.
all the costs of all maintenance and damages on your home
new roof, new windows, new kitchens, new bathrooms, new floors, new ceilings, new heating systems, painting inside and outside, new driveway, new sewage (you probably need all of those things changed, and some of them several times given you've had the home for many years)
all the property tax you pay over all the years
all the insurance you pay over the years
add all those things together,
subtract your expected selling price
divide it out on all the months you own it until you sell it.
that is the real price pr. month for an owned home.

>>58193596
This

You also forgot to mention the opportunity cost in paying down a deposit for a house. Somebody who sticks that money in the S+P 500, and then rents for 30 years, is not going to be much poorer than someone who uses that money to mortgage a house for 30 years. In fact they might even be richer

>>58191958
Life really is about balancing the amount of assfucking you're willing to tolerate to seem normal and well-adjusted.

>>58191958
Despite all of the Issues OP lists 10s of millions of Americans own homes. Perhaps the problem is that basement dwelling incel NEETS like OP don't apply themselves to get a good education and a good job.

why is rent cope so popular?
can't afford the down payment?

>>58193396
I mean if you are going to argue semantics no one owns anything unless they can dispense enough violence to keep the violence monopoly outside their area.

>>58193778
yes

>>58191958
Didn't read
Clicked on picture
Imagined the smell
Leaving thread now

>>58193791
There is no group in america that can do that currently unless somehow entire cities would form up and oppose the government

>>58193793
based and stinkypilled
>>58193811
it’s still true to concept. the government owns everything and will kill you with zogbots if you don’t pay them the required yearly tithe

>>58192373
What the fuck is that pic even saying.