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/biz/ - Business & Finance

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21288293 No.21288293 [Reply] [Original]

My grandparents just told me to buy the most expensive house I can afford to make money on appreciation. Is this advice based or cringe?

>> No.21288321

>>21288293
Boomernomics.

>> No.21288409

>>21288293
>buys house right before election

>> No.21288461
File: 22 KB, 590x348, Homes-USD-1890.png [View same] [iqdb] [saucenao] [google]
21288461

>>21288293
extremely cringe

>> No.21288541

>>21288461
Do basicly holding gold is a better investment than holding a home since 1970

>> No.21288682

>>21288541
no gold has no return, the dollar goes down.
just like they tell you they reduce its value by up to 3% pa against a subjective index of consumer experiences to maximise your employment (reduce your wealth so you can't stop working)

>> No.21288801

>>21288541
Gold isn't an investment, it's insurance against a falling dollar

>> No.21288850

>>21288801
same with chadlurk

>> No.21288983

matters if black people live near by.

>> No.21289101

>>21288293

From a pure appreciation standpoint, no. But as an income property, yes.

What is cringe: Buying the most expensive house in the neighborhood.

>> No.21289150

>>21288293
extremely cringe
if you must buy property, buy a cheap shitter, put a small effort into renovating it, and experience 50 to 100% gains in a year or two

>> No.21289487

>>21288293
actually retarded, the house market is about to fucking kaplode

>> No.21289510

>>21288293
>taking advice from boomers
To people really do this or is this a /biz/ specific meme?

>> No.21289908

>>21288293
>boomers about to start dying off
>huge economic uncertainty and possible depression
>boomers losing retirement will have to sell their houses
>conflict with China threatening foreign money pumping real estate prices
Yeah, your grandparents are retards who thing
>well golly gee.. it's always been like this, it's always gonna keep on bein' like this
Anon, you buy a house after a downturn in real estate. Not at record, unreasonable all-time highs

>> No.21291004

>>21288293
Buy the cheapest house in a rich neighborhood.

>> No.21291347
File: 445 KB, 424x453, 1596039029529.png [View same] [iqdb] [saucenao] [google]
21291347

>>21288293
Did they not learn a FUCKING THING from the housing crash of 2009? Or that housing prices aren't what they were several decades ago? Gosh, let's see what all can go wrong with their advice:

>The housing bubble bursts, you sit on an overpriced mcmansion nobody wants
>You are stuck WAGE SLAVING indefinitely trying to pay back the bank
>You fall on hard times and can't pay your mortgage, causing you to declare bankruptcy, ruining your credit for roughly 10 years

>> No.21291421

>>21291004
This. And also renovate it a lottle before selling

>> No.21291568
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21291568

>>21288293
your grandparents are retards, no offence.

luxury items depreciate the worst. the first part of the real estate market to get hit when shit goes south is the luxury market. your neighbourhood could get 'enriched' and tank the prices.

no dude, buy a house first and foremost for the lifestyle you want to live. personally, i dont like having to pay much money on living expenses, so i rent a cottage by the ocean and it cost me $65000 usd (for the house, not the property).

never owned a house prior, don't care. live your own life or you'll end up hating the ppl who gave you advice that you were too weak to ignore.

>> No.21291824
File: 47 KB, 1069x591, Real Estate since 1870.png [View same] [iqdb] [saucenao] [google]
21291824

>>21288293