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/biz/ - Business & Finance

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14069830 No.14069830 [Reply] [Original]

My boomer mother keeps going on at me to buy a house.

I have to explain every time that boomers got lucky and I wouldn't be making those kind of gains, that there is a strong chance I'd be making losses in the future.

Am I wrong? Is the eternal boomer always right?

>> No.14069963

What you need to understand is that to boomers, having an over leveraged 35 year mortgage is considered "making it". They want you to buy their pumped bags so they can retire, or the government wants you to buy a Taylor Wimpey cardboard cuckshed on the help to buy scheme so they can fulfill their Keynesian fantasies or fake GDP growth.

Fuck them mate.

>> No.14069978

let me guess
you're trying to buy some retarded 4 bed as your first house
get a clue zoomie it's called property LADDER for a reason

>> No.14069989

>>14069963
>Torture them to dead
ftsfy

>> No.14070012

>>14069978
Didn’t the boomers purposely burn the ladder after buying all the properties cheap? Can’t wait for boomsday.

>> No.14070053

>>14069830
You're not wrong, anon. I'm going to assume your mother loves you and thinks she's looking out for you. Buying a house at your age was a great move for her and she wants the same for you. She's relying on her experience, you're relying on reason in anticipating that your experience will be different than hers.

And I think that's the right thing to do - "Mom, I appreciate the advice, but I don't think it's still applicable. Times have changed. Remember Lehman Brothers? What other advice do you have for me?" is about all you can do.

>> No.14070088

>average house price
>median wage
Why not median house price?

>> No.14070093

>>14070053
My Grandparents lived through the depression. Their advice was to keep a garden in case the food prices go up again. When people give you advice it's based on their experiences. Some advice ages with time, some advice is timeless.

Dating advice may change with the details from generation to generation; but the nature of women is timeless advice. Your grandfather may have gone about courting women completely differently than you do; and his advice on how to ask a girl out might be completely outdated and obsolete, but his advice on the general nature of women is timeless and priceless. That's what you should listen to.

>> No.14070098

>>14070053
>"Mom, you fucked my future being a lazy low IQ whore that would today blow dicks for 5 dollar instead of having earned public debt as a bureau whore. I'm going to deport you to Mexico when you are too weak to whip your own ass, you always said you liked the food so much and voted democrats your whole life. Get fucked never talk to me again or I will kill you with a single hit to the head whore."
ftsfy

>> No.14070112
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14070112

>>14069830
House price indexes dont include repair costs poured into those houses etc. and there are ways to manipulate these indexes too they are not as reliable as stock market indexes, usually the real return is even much worse what the index shows

>> No.14070153

>>14069830
The housing market where I'm at is exploding right now. I'm 26 and I bought my first house a little over 3 years ago. I bought a fixer upper cuz I'm handy and could fix it up and I was also poor. The house cost me 70k and I put 10k down on it and I just sold it for 135k and am just waiting to close. It really depends what kind of house you buy my next house I buy will also be a fixer upper because I dont want to owe more on it than its worth when the market crashes in 2 years. But right now I'm in a tough spot because buying a house at the top of the market is dumb but I also have a family and dont want to live in nig town apartments. Your mother is right that a house could be a wonderful investment but if you dont know anything about houses you could lose your ass.

>> No.14070188

> op would rather waste money renting than paying towards owning a house

Sounds about right

>> No.14070195

>>14069963
This this and this
Don't buy Boomer highs, buy their lows when they're starving. You need to make sure you aren't dependent on them when this happens.

>> No.14070212

To experience the same golden age that boomers did is unlikely when we're importing savages into our countries. Buying a home is not an investment; it's a forced savings account. It's fine if the numbers work and you're using them for rental properties; eventually the only people you will be renting to are savages who will destroy your property and cause you to lose money.

I'm a 26 year old boomer, retired 2 years ago. I bring in $2k/month (average) passively and just travel the world. Invest in shit that won't tie you down to living in one country/city. Dark times ahead.

>> No.14070225

>>14070098
based

>> No.14070258

>>14070053
>>14070088
Actual decent mesured advice? On my 4chan? On /biz/ out of all boards?