Why would anyone choose to pay rent when they can be paying off their mortgage?

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Anonymous Mon Oct 19 10:01:53 2020 No.23369279 [Reply] [Original]

Why would anyone choose to pay rent when they can be paying off their mortgage?

>>	Anonymous Mon Oct 19 10:02:25 2020 No.23369287 >>23369279 Need to put in 30% up front.

>>	Anonymous Mon Oct 19 10:02:36 2020 No.23369295 >>23369279 that's a man

>>	Anonymous Mon Oct 19 10:03:09 2020 No.23369305 >>23369279 because moving also, not having assets to be taken from you

>>	Anonymous Mon Oct 19 10:03:23 2020 No.23369310 >>23369287 not true. I just bought a house zero down, about 4k to close

>>	Anonymous Mon Oct 19 10:03:47 2020 No.23369316 I would definitely prefer to own a house and pay a mortgage, but I am not in a place in life to be tied to a city for a long time.

>>	Anonymous Mon Oct 19 10:05:26 2020 No.23369354 >>23369279 it's actually cheaper for me to rent for a couple years and save up the difference for a house.

>>	Anonymous Mon Oct 19 10:16:07 2020 No.23369570 >>23369279 >Get into mortgage >area goes to shit due to niggers moving in on government gibs or >tied to mortgage >new work opportunity pays double but different city Or >have kids >unplanned twins >suddenly not enough rooms

>>	Anonymous Mon Oct 19 10:24:34 2020 No.23369755 >>23369287 You can get a first time homeowner loan and put down 3.5%

>>	Anonymous Mon Oct 19 10:26:09 2020 No.23369786 >>23369279 because i dont have a room temperature iq

>>	Anonymous Mon Oct 19 10:28:15 2020 No.23369829 In my country, my income should be huge to be able to take a mortgage that big that can buy me a house or appartment (100k dollars the cheapest ones, minimum wage is like 3 less than 3 dollars an hour here)

>>	Anonymous Mon Oct 19 10:28:42 2020 No.23369843 >>23369570 >not enough rooms Make them sleep in the same room, retard. They're just kids. >gubmint gibs niggers Live in the country >pays double different city Commute, little crybaby.

>>	Anonymous Mon Oct 19 11:10:37 2020 No.23370578 >>23369287 have fun watching the real estate price skyrocket fren

>>	Anonymous Mon Oct 19 11:12:42 2020 No.23370624 >>23369843 >commute to the other coast >make them sleep in the same room while you pay off your 25 year mortgage Nigger brain

>>	Anonymous Mon Oct 19 11:14:22 2020 No.23370653 I really don't like debt or commitment of any sort

Anonymous Mon Oct 19 11:15:08 2020 No.23370669

>>23369279
because when you sign a mortgage you effectively bind yourself to be stuck for 30 years. you have to make money to pay of your loan every month. Not to mention they also take a big amount of up front money. so when you sign your mortage you are effectively broke and have a debt to pay. yyou are now the perfect wageslave.

also, most interest on mortage is so high you end up paying almost twice the amount the house costs over time.

meanwhile if you rent smart you can build capital and use that capital to grow more capital.

renting is for the smart people actually.
mortgage is for the slaves.

Anonymous Mon Oct 19 11:20:01 2020 No.23370763

i'm personally renting because i don't want to be stuck to any certain place right now i'm only 30 y/o
i want to be able to leave on a minute's notice without having to worry much about being stuck paying something for more than a couple weeks to a couple months to under a year depending how long's left on my lease
also, so far i've been able to sublet my rented houses/apartments that i've moved out of early so it's working out for me
although, we just started looking for a home so i'll be joining the mortgage group soon, but for anyone young and not tied down yet i really recommend renting and moving around
live your life, don't get tied down until you feel you're ready to bros

>>	Anonymous Mon Oct 19 11:27:43 2020 No.23370914 >>23369279 my shity third world country ask for minimum 10%-14% in interest, if you rent the flat you do not even get enough money to pay the interest to the bank, plus the monthly installments.

>>	Anonymous Mon Oct 19 11:34:28 2020 No.23371055 >>23369279 >choose its not a choice if there are no alternatives. trust me i would rather buy. its cheaper and you can rent a room topay down the mortgage

Anonymous Mon Oct 19 11:35:59 2020 No.23371080

Don't know why people imagine they'll be stuck in one place. I moved abroad for work on two separate occasions, 2-3 year stints. I just rented the place out and had a managing agent take care of phone calls. Getting my mortgage paid by someone else and getting a per diem for relocating is the ultimate in comfy. What's the problem, guys?

>>	Anonymous Mon Oct 19 11:37:07 2020 No.23371099 >>23371080 >leaving your home that you will be paying for 30 years at the mercy of some stranger Ok

>>	Anonymous Mon Oct 19 11:39:05 2020 No.23371133 >>23369310 >>23369755 Enjoy your mortgage insurance fees

Anonymous Mon Oct 19 11:40:00 2020 No.23371146

>>23369570
Twins should be aborted. They have lower IQs. Nature evolved the human body for quality over quantity. When there are multiple fetuses in the womb, resources are divided. Nutrients and oxygen are divided between two or more competing vessels. If you want midwits, have twins. I don't which is why if I ever have them, I'm making my wife get an abortion.

>>	Anonymous Mon Oct 19 11:40:14 2020 No.23371151 >>23369295 Naah bro, the face looks way too nice. Unless there's some seriously fucked up chemical shit going on.

>>	Anonymous Mon Oct 19 11:40:36 2020 No.23371156 >>23369279 I have an apartment, but I'm renting that one out. I am paying rent myself also

Anonymous Mon Oct 19 11:41:34 2020 No.23371172

>>23371080

>economic crisis hits (COVID)
>renters can't pay rent anymore
>no one can pay rent anymore
>you're still on the hook for your mortgage plus all your current expenses while living abroad
>can't afford both, can't sell the house fast enough, bank takes the house, RIP all your equity

>>	Anonymous Mon Oct 19 11:44:58 2020 No.23371246 >>23371146 Edgy 14 year old

>>	Anonymous Mon Oct 19 12:06:19 2020 No.23371680 >>23371246 t. twin

>>	Anonymous Mon Oct 19 12:07:06 2020 No.23371700 >>23369279 >he doesn't know he's getting raped by interest

Anonymous Mon Oct 19 12:07:42 2020 No.23371714

>>23371146
>Nature evolved the human body for quality over quantity.
certainly not true evident by the fact that our population size is growing smaller and smaller. Sometimes you need quantity without sacrificing too much quality. Human intervention is one of the main causes of overpopulation of the lest desirable kind. And I'm sure you understand what I mean.

>>	Anonymous Mon Oct 19 12:14:18 2020 No.23371877 >>23371714 >our population size is growing smaller and smaller Do you know what has seen a large increase, in the last 20-30 years? Abortion. I'm sure that plays a role in a decline

>>	Anonymous Mon Oct 19 12:17:53 2020 No.23371960 >>23371133 Im all broke up about $60 a month. Makes me want to pay someone else's mortgage.

>>	Anonymous Mon Oct 19 12:20:10 2020 No.23372002 >>23369279 in cities, maintenance fucks your ass so renting and stonks are better, in suburbs a mortgage on a house may be worth it because of the federal mortgage interest tax deduction, quality of life, and lower maintenance costs

Anonymous Mon Oct 19 12:22:52 2020 No.23372068

>>23371877
exactly...which is a bad thing. Not sure what point you're making here so I'll spell it out for you: chinks and niggers are having more children than white people and they're fucking the world with pollution, crime and recourses. We need to stop giving aid to Africa and figure out how to deal with these Chinese fucks before it's too late.

Anonymous Mon Oct 19 12:28:22 2020 No.23372162

>>23369279
I can't speak for others, but I can give you my reasons.
The main reason is that I don't want to feel tied to a place I don't love. I don't know that I'll ever love a building enough to decide that I want to own it and inhabit it permanently.
Also, if I buy a house now, I'll be buying within my current means. But my financial situation could radically improve long before I've extracted enough value from a house to make the initial investment worthwhile. Surely it will improve. ANY DAY NOW.
Thirdly, I hate the city I live in. I don't have any particular place I want to go, but I don't want to have an incentive to stay here if a motivation for moving comes up.
Finally, something something usury. Something something da jooz.

>>	Anonymous Mon Oct 19 12:29:55 2020 No.23372188 >>23371146 >my wife We all know you're dying alone incel

Anonymous Mon Oct 19 12:31:59 2020 No.23372224

>>23369279
I think committing to a 10-15 year mortgage is an idea from a bygone era where it was feasible to be tied down to one place and work at the same job for the rest of your life.
Nowadays that's just not a reliable plan anymore. A lot of things could happen that have sadly become the norm, such as divorce, your job going away, or some other thing that would make you want to move.

>>	Anonymous Mon Oct 19 12:32:57 2020 No.23372244 >>23371151 thats actually a man

>>	Anonymous Mon Oct 19 12:35:51 2020 No.23372301 >>23369279 Why would anyone pay off a mortgage when you can just have a way lower rent, and use that money saved to buy assets that will do triple digit returns year after year?

>>	Anonymous Mon Oct 19 12:37:45 2020 No.23372344 File: 14 KB, 220x260, 1597044416721.jpg [View same] [iqdb] [saucenao] [google] >>23372244 AAAAAAAAAAAAAAAAA

>>	Anonymous Mon Oct 19 12:39:55 2020 No.23372396 >>23372344 that'a hanna hays

>>	Anonymous Mon Oct 19 12:45:33 2020 No.23372488 >>23369279 can someone here explain who is behind this trend of “post pic of a man dressing as a girl with a general business related question”? What is their plan spamming the board 24/7?

>>	Anonymous Mon Oct 19 12:49:33 2020 No.23372565 File: 88 KB, 588x490, 1597534342157.jpg [View same] [iqdb] [saucenao] [google] >>23369279 because you could mortgage a rental property and then live wherever the fuck you want faggot separate your wants from your investments whats wrong with you

Anonymous Mon Oct 19 12:51:43 2020 No.23372605
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for instance i would never live in the type of dystopian shithole that i would buy as a rental property investment. like a fucking house for a big yuppie cunt family with a two car garage in a gated neighborhood. holy fuck would it suck balls to live there. what a fucking joke of a lifestyle. but these are the best tennants and the best properties for investment... so you get the tenants to pay your fucking faggot mortgage, and then you rent a tiny apartment above a strip club in the ghetto. that's called investing and not being a fucking moron just buying shit you like

>>	Anonymous Mon Oct 19 12:54:12 2020 No.23372663 and why would i not buy the tiny shithole apartment in the ghetto above a strip club? because they are terrible investments. the tenants are dicks and the HOA fees are a mouth fuck. terrible investment lick my balls. renting rules.

Anonymous Mon Oct 19 12:54:26 2020 No.23372666
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>>23369279
I don't know what these kids in the comments are talking about, OP...

My mortgage is about 1/3rd of what it would cost to rent.
Doing the house up so I can sell due to bad neighbours, will hopefully make 20-40k on top of original price, which will help pay off or free up 20k ish to either go back into the mortgage or on stocks

Anonymous Mon Oct 19 12:55:14 2020 No.23372679

if i had a fucking business it would be the same story, shitcake. you have a cafe in the best part of town, and when its no longer the right size you fucking move your damn cafe to another rental. if you want to get into commercial real estate you fucking do it, but you get the best commercial real estate investment you can and not the best stupid thing for your shitty cafe, which is a completely fucking separate business

>>	Anonymous Mon Oct 19 12:56:32 2020 No.23372706 File: 32 KB, 217x167, 1587749234217.jpg [View same] [iqdb] [saucenao] [google] >>23369279 ok op these are my posts call me if you need any more advice on how to not potentially fuck up your goddamn life >>23372565 >>23372605 >>23372679 >>23372663

>>	Anonymous Mon Oct 19 12:57:12 2020 No.23372717 oh i forgot this board has poster ids let me know if you want me to suck your dick i can do that too

Anonymous Mon Oct 19 12:58:28 2020 No.23372746
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>>23372666
>My mortgage is about 1/3rd of what it would cost to rent.
that's cool. sounds like you should get a few more of those, and rent them to people who will
1) pay you money
2) pay your mortgage for you
at which point you can fuck off

>>	Anonymous Mon Oct 19 12:58:58 2020 No.23372758 >>23371151 Have I got some news for you..

>>	Anonymous Mon Oct 19 12:59:58 2020 No.23372779 File: 12 KB, 201x251, images(3).jpg [View same] [iqdb] [saucenao] [google] >>23371146 >They have lower IQs Some of them are reasonably intelligent

>>	Anonymous Mon Oct 19 13:00:15 2020 No.23372786 The only places worth living don't have good homes below 500k. No, your midwest/southern/rural shithole is not a place worth living in.

>>	Anonymous Mon Oct 19 13:00:36 2020 No.23372792 >>23372758 >>23371151 >>23369295 >acting like you wouldn't let her suck your dick anyways

Anonymous Mon Oct 19 13:01:05 2020 No.23372799

Housefags are so sure of themselves lmao. You dont get to take it with you, you know?

This hit me last year, when one of my gramps died, and the house sold for $4,000,000+ (gentrified area of a house he paid $105,000 for originally).

Who benefited? 3 of his kids (one being my mum). He never saw a dime from his property value increasing, its just now my mum, uncle, and aunty who realized the capital gains, you know whats funny? It was also 100% tax free.

Dont buy a house thinking you'll ever actually be able to use the capital gains you make on it, unless you want to risk going homeless, or literally go homeless, and have to pay a bunch of fees and charges to do so.

>>	Anonymous Mon Oct 19 13:02:05 2020 No.23372812 >>23369279 good luck finding a steady job in a part of the country that pays enough to afford the housing stock in the area around that steady job. literally impossible unless mommy and daddy already paid for your degree from university.

>>	Anonymous Mon Oct 19 13:02:26 2020 No.23372821 >>23372224 Then you just sell the house and collect your equity... There's been a single time in our entire lives where this wouldn't have been profitable and it lasted like 3 months

>>	Anonymous Mon Oct 19 13:03:14 2020 No.23372833 >>23369570 why not rent property and use the profit to pay off your mortgage

>>	Anonymous Mon Oct 19 13:03:38 2020 No.23372839 File: 86 KB, 750x716, 1324a0d0-0da3-11eb-a0d4-670f650982ad.jpg [View same] [iqdb] [saucenao] [google] >tfw living in the DC area

Anonymous Mon Oct 19 13:04:11 2020 No.23372850

>>23372799
If you're wondering, no Im not a housefag.

I have investments that pay my rent, investments whose returns continue to outpace rental increases, investments which allow me to continually pay rent and reinvest more, increasing the amount of returns I make.

>>	Anonymous Mon Oct 19 13:06:01 2020 No.23372873 >>23369279 >Why would anyone choose to pay rent when they can be paying off their mortgage? easy if renting is worth it and gives you more freedom you rent. no asset is as illiquid as a home. my brother divorced i know what i'm talking about.

Anonymous Mon Oct 19 13:06:05 2020 No.23372877

>>23372224
There's also the fact that people tend to change jobs a fuck load more often now.

People having 20-30 year careers at the one place is not really a thing anymore.

Everyone I know is changing jobs every 2-3 years at most, and apparently its what you have to do now to stay relevant, people who stay in the same job for too long nowdays are seen as lazy and that they "Gave up" and dont want to improve anymore.

>>	Anonymous Mon Oct 19 13:09:45 2020 No.23372954 >>23369316 this

>>	Anonymous Mon Oct 19 13:55:10 2020 No.23373795 File: 540 KB, 1024x598, bogs.png [View same] [iqdb] [saucenao] [google] >>23371146 start running fag

>>	Anonymous Mon Oct 19 13:59:37 2020 No.23373855 >>23369279 cause they're free to move, you're stuck in one place, simple as

>>	Anonymous Mon Oct 19 14:01:54 2020 No.23373894 >>23371133 Stop being a fucking clown, refi when you can and it will drop PMI fast.

>>	Anonymous Mon Oct 19 14:11:11 2020 No.23374074 >>23369570 You realise these asset things can be sold? It's a pretty neat system actually.

>>	Anonymous Mon Oct 19 14:12:07 2020 No.23374097 >>23371151 >>23372244 >>23372758 I mean technically he's right, they modified this picture with faceapp. So they probably look hideous in an unedited pic. www reddit com/r/FemBoys/comments/j334jg/please_validate_me_and_tell_me_im_cute/

>>	Anonymous Mon Oct 19 14:14:22 2020 No.23374133 >>23369279 I love paying taxes and insurance and maintenance, totally not wasted money!

>>	Anonymous Mon Oct 19 14:15:24 2020 No.23374155 >>23371960 you are, the bank's and the government's

>>	Anonymous Mon Oct 19 14:30:06 2020 No.23374426 I've gotten big salary hikes by switching coasts twice now current tc 190k. When my career is stable I will buy.

>>	Anonymous Mon Oct 19 14:40:11 2020 No.23374609 buying properts is such a midwit move

Anonymous Mon Oct 19 14:43:44 2020 No.23374690

>>23369279
You will always be a renter to the state as long as you pay taxes on your property.
Might as well invest in a smart way your money to not let the state steal from you.
A home is a lot less liquid than stocks and harder to move if the state decide to go after your money and increase your taxes.

>>	Anonymous Mon Oct 19 14:43:53 2020 No.23374694 >>23371146 yeah bro if the winklevoss twins were one person they would be 12’10 instead of 6’5 each since they got divided in half in the womb

Anonymous Mon Oct 19 14:50:06 2020 No.23374819

Get a mortgage, get a lodger, lodger pays half if not all of mortgage.
If you wanna move, just convert house to BTL.
Why are you all so thick.
Also the real reason people don't buy a house is they're lazy fucks and can't be bothered to sit down with a spreadsheet and Google and do some basic financial planning.

>>	Anonymous Mon Oct 19 15:13:33 2020 No.23375342 >>23370669 high IQ people make it with crypto then buy a cheap as shit house with the gains upfront and have no mortgage/slavery.

Anonymous Mon Oct 19 15:42:07 2020 No.23375885

>>23372799
Musta been in Florida or something. Our house values where I'm at are fucking absurd. 300,000+ it seems like for a decent house (just decent) or 1200+ for an apartment. What makes this suck is that all the jobs around me that pay well are either construction, trades, or sucking dick as a server/bar man for the rest of your life cause you'll never retire being a server or bartender.

Guess I'm going trades and then getting the fuck out of this shit hole state.

>>	Anonymous Mon Oct 19 15:44:55 2020 No.23375964 >don't want to spend on a down payment >don't even want to live where I live so figuring out where to look for a house is hard >house prices are fucked

>>	Anonymous Mon Oct 19 15:52:22 2020 No.23376135 >>23370669 Rent for top wagies that make real money Mortgage for midwits that make stable/low income Rent also for broker retail slaves that like 'experiences'

Anonymous Mon Oct 19 15:56:18 2020 No.23376213

>>23369279
homeownership
>mortgage + taxes + maintenance
rentcuckery
>landlord's mortgage + landlord's taxes + landlord's maintenance + landlord's profit margin

30 years of home ownership
>taxes + maintenance + 6 figures equity
30 years of rentcuckery
>landlord's mortgage (in perpetuity) + landlord's taxes (in perpetuity) + landlord's maintenance (in perpetuity) + landlord's profit margin (in perpetuity) + $0 equity

Anonymous Mon Oct 19 15:57:05 2020 No.23376231

>>23370624
>make them sleep in the same room while you pay off your 25 year mortgage
I shared a room with my brother for 20 years. Stop being a faggy baby. Teaching kids the value of sharing space is important, making sure every person has their own dedicated isolation zone will just make them grow into entitled shits who can't handle socializing with people. God help them if they go to college and have to experience roommates for the very first time without having already tried it with family members who care about them.

>>	Anonymous Mon Oct 19 15:58:30 2020 No.23376260 >>23370669 the quintessential niggerbrain: utterly incapable of thinking more than 1 week into the future. homeownership: principle and interest that is repaid in full over a fixed term rent: monthly payments, in perpetuity

>>	Anonymous Mon Oct 19 15:59:20 2020 No.23376277 WOW, WHAT A CUTE YOUNG MAN

>>	Anonymous Mon Oct 19 15:59:51 2020 No.23376294 >>23371146 you're here shitposting on a board dedicated to getting the scraps the winklevoss twins deign leave us

Anonymous Mon Oct 19 16:01:10 2020 No.23376319

>>23376213
>landlord's mortgage + landlord's taxes + landlord's maintenance + landlord's profit margin
Not exactly. A building full of apartments doesn't have a linear scaling per-person cost. In my area, a house mortgage and apartment rent are basically the same price, BEFORE accounting for property taxes and maintenance on the house.
>$0 equity
But also no down payment or closing costs, so no opportunity cost of investing $30k into a house instead of into the market.

>>	Anonymous Mon Oct 19 16:01:48 2020 No.23376333 Because of my salary progression from being mobile. 2016 - 70k 2018 - 90k 2019 - ~130k 2020 - 170k

>>	Anonymous Mon Oct 19 16:05:36 2020 No.23376426 >>23369279 Because my rent is $300+bills and no maintenance cost. Down payment money would eat up a lot of my stack that will reap far higher rewards.

Anonymous Mon Oct 19 16:07:21 2020 No.23376475

>>23376319
>no opportunity cost of investing $30k into a house instead of into the market.
Basically this. It's even more drastic when a down payment is usually somewhere between 100k and 200k like it is here in LA. Is it smarter to buy a house with your 100k and pay it off over 30 years or buy 100k of bitcoin now and rent for 30 years? Math says bitcoin.

>>	Anonymous Mon Oct 19 16:07:48 2020 No.23376484 >>23376319 >But also no down payment that's a reduction of principal, not an expense. >closing costs immaterial and can be financed.

>>	Anonymous Mon Oct 19 16:08:54 2020 No.23376512 >>23376426 Yup, the opportunity cost is huge. If I had enough money to retire AND buy a house in cash (no loans) then I'd consider doing it to save on costs, but fuck mortgages and down payments.

Anonymous Mon Oct 19 16:19:34 2020 No.23376751

>>23376484
>that's a reduction of principal, not an expense.
It's money you have to take away from other investments today to invest in your house. If those other investments would have a higher return over 30 years than the interest on your mortgage then you are losing money for investing it into your house instead of the market.

>>	Anonymous Mon Oct 19 16:23:10 2020 No.23376826 >>23376751 What are some investments that would reasonably outpace a mortgage?

Anonymous Mon Oct 19 16:24:45 2020 No.23376864

>>23376751
i commonly see this argument made on /biz/ and it makes absolutely no sense. in most cases you are paying the same amount of money PER MONTH for rent vs home ownership over a 30 year mortgage term. for this reason you ARE NOT "taking away from other investments" to pay a mortgage, you are paying almost the exact same.

at the end of the day the following happens:

rent: variable cash outflows in perpetuity (rent) which is indexed to inflation thanks to your jew landlord
home ownership: fixed cash outflows for a defined period of time (mortgage payments over a mortgage term) followed by a MUCH SMALLER cash outflow (maintenance, property taxes)

what don't you understand about this?

>>	Anonymous Mon Oct 19 16:24:54 2020 No.23376868 >>23376826 Yourself

>>	Anonymous Mon Oct 19 16:34:32 2020 No.23377052 File: 17 KB, 383x257, a217ce10-0c78-11eb-80e4-3184b65e2373.jpg [View same] [iqdb] [saucenao] [google] >>23376426 Where? I pay $1600 for a studio

>>	Anonymous Mon Oct 19 16:37:37 2020 No.23377118 >>23371080 renting out the house is the only way buying a house makes sense UNLESS you are epic father or grandpa and you want your family to have a headquarters for eternity, then you should buy it in cash.

>>	Anonymous Mon Oct 19 16:39:09 2020 No.23377145 What's up with all these rent vs mortgages threads lately? Is this a sign the top is in?

>>	Anonymous Mon Oct 19 16:40:16 2020 No.23377169 >>23376864 >completely ignoring the down payment and opportunity costs of dumping five figures into a home that isn't going to make them any money

Anonymous Mon Oct 19 16:45:29 2020 No.23377293

>>23377169
>completely ignoring the down payment
once again, dumbass, this is a reduction of principal on the loan and not an expense into the void.
>opportunity costs of dumping five figures into a home
do you have a literal nigger's brain where you physically cannot conceive of a situation which plays out in the abstract or requires a sense or understanding of future events? home ownership represents a fixed and determinable monetary exchange over a defined period of time, plus relatively minor variable costs (WHICH YOU WOULD ALSO INDIRECTLY PAY AS A RENTER) like property taxes and maintenance/upkeep.

do you see the benefit of this, niggerbrain? or do you also your tv from rent-a-center?

>>	Anonymous Mon Oct 19 16:48:23 2020 No.23377362 >>23371146 >lower IQs As opposed to what data criteria? Is the IQ adjusted to account for the chance of being born a twin and surviving? Is it adjusted for race and parental IQ?

>>	Anonymous Mon Oct 19 16:52:04 2020 No.23377447 >>23372812 You just need to look around more bro. Gtfo of urban shitholes

Anonymous Mon Oct 19 16:52:52 2020 No.23377470

>>23377293
ah yes it all makes sense now, I should spend $40k on a down payment to put the entire risk of the investment on my own back and assume responsibilities for any kind of random bullshit going wrong (HVAC, Plumbing, Electric, Appliances, literally anything)

That way I can maybe break even in 5-8 years :-)

>>	Anonymous Mon Oct 19 16:53:55 2020 No.23377485 >>23369354 This is how we know the jews are scamming us.

>>	Anonymous Mon Oct 19 16:54:03 2020 No.23377486 >>23377470 so you are a literal nigger, i understand now. >AYO HOL UP >WHY SHOULD I PAY MOTHAFUCKIN $1000 FO A TEE VEE >--AND DAT TEE VEE MIGHT BREAK-- >WHEN I CAN JUS PAY RENT-A-CENTER $50 A MOTHAFUCKIN MONTH >DAS RITE

>>	Anonymous Mon Oct 19 16:54:04 2020 No.23377487 >>23377118 it depends on rent/price ratio

Anonymous Mon Oct 19 16:55:40 2020 No.23377521

>>23377293
>>23377470
the american dream is buying a depreciating asset without an external cash flow and treating it like a business that doesn't make any money in hopes that inflation will continue and interest rates never hike and home ownership rates don't plummet :-)

the american dream is cutting your grass every three weeks for eternity :-) love it

Anonymous Mon Oct 19 16:57:16 2020 No.23377551

>>23370578
This.

Due to natural disasters in my area, I went from 10k under water...to 60k profit if I sold today. Houses are selling for 15-30% above market value in a matter of days.

My RE agent told me to have an accepted offer for my new house BEFORE I even list mine for sale, that's how fast they are selling.

If I didn't have 2 kids with 1 on the way, I'd sell now.

Unfortunately, I'll likely be lamenting my decision not to sell in a few years.

>>	Anonymous Mon Oct 19 16:58:49 2020 No.23377579 >>23377521 your schizophrenic stream of consciousness is irrelevant and nonsensical. you've already demonstrated a terrible grasp of even basic financial concepts, i don't think you need to say much more.

>>	Anonymous Mon Oct 19 16:59:42 2020 No.23377597 >>23372779 Are those the retards that got scammed (or so they say) by the Zucc and spent their lives trying to sue for ownership for facebook with no cigar? They relied on daddies money to not be homeless bums.

Anonymous Mon Oct 19 17:00:20 2020 No.23377609

>>23377486
Chadbrain here.

I am going to invest $50,000 into a non cash flowing asset that I have to feed with my own earnings for 30 years. The interest is all front loaded, but after 10 years I should really be able to start knocking out some principal!

Sure hope nothing ever goes wrong with my property like the roof getting ruined or the plumbing backing up or the foundation shifting.

Although I pay $100/mo in property tax, and $200/mo for home insurance, and $200/mo for PMI and $100/mo for my HOA and pay 8% of the sale for closing costs and broker fees. . . .

I will tell people that my mortgage is cheaper than the rent rate so they will know who the smart man really is :-)

>>	Anonymous Mon Oct 19 17:01:22 2020 No.23377627 >>23377579 your inability to address the argument directly really shows your knowledge behind the subject! thank you!

Anonymous Mon Oct 19 17:02:04 2020 No.23377641

Have you guys noticed a ton of these threads lately?

Almost like agents in here are trying to encourage everyone to get a mortgage so the lender of last resort (the FED) can repossess everyone's home who doesn't take the upcoming mandatory vaccines and participate in the upcoming Great Reset debt forgiveness program.

Keep renting. It's your best chance to stay out of the system.

>>	Anonymous Mon Oct 19 17:02:50 2020 No.23377655 >>23369279 Schniff Those armpits schniff schniff aaaaaaaaaaaaaaa I'm in heaven

Anonymous Mon Oct 19 17:04:11 2020 No.23377680

also since i'm feeling awfully generous, here's another tidbit of wisdom for you moronic niggerbrains out there: EQUITY IS RETAINED IN A FORECLOSRUE. it is reduced by various (((fees))) and by the sale price of the house, but if your house is foreclosed and you're only $50,000 into a $200,000 mortgage, you aren't on the hook for the remaining $150,000 of principal.

your $50,000 is reduced by foreclosure fees and the house is sold at market value. let's say it's an economic downturn and sale price is $170,000. you retain $170,000 sale price less $150,000 loan balance less, let's say, $10,000 in (((fees))). you come out with $10,000 in cash, as a portion of your retained equity.

>>	Anonymous Mon Oct 19 17:04:33 2020 No.23377691 >>23377641 rent where you live own property you're renting out literally this simple.

>>	Anonymous Mon Oct 19 17:05:14 2020 No.23377707 >>23377551 then just do it nigga...

>>	Anonymous Mon Oct 19 17:05:38 2020 No.23377717 >>23377680 how to EPICALLY get FORCLOSED ON and SELL AT A LOSS to get a FRACTION of what you invested! Home ownership is awesome, bro!

>>	Anonymous Mon Oct 19 17:06:07 2020 No.23377726 Flexibility

Anonymous Mon Oct 19 17:06:23 2020 No.23377727

>>23377627
bro i'm not even trying to be mean here, you sound like someone who would struggle with freshman level courses on finance and accounting. these aren't difficult concepts to understand. rent vs buy is a much different argument in super high COL areas (and even then it's worth considering it with characteristic high levels of appreciation) but, for most cases, homeowners come out far head when you consider the fixed vs indefinite nature of cashflows, even COMPLETELY ignoring the benefits of equity and appreciation.

>>	Anonymous Mon Oct 19 17:06:51 2020 No.23377737 >>23369279 Cute man

>>	Anonymous Mon Oct 19 17:09:15 2020 No.23377777 >>23370653 based no relationships either

>>	Anonymous Mon Oct 19 17:09:42 2020 No.23377789 >>23377717 >BUT WUT IF DAT TEEVEE BREAK >DAS WHY I RENT FROM RENT-A-CENTER >DEM NIGGAS FIX IT IF IT BREAK >JUST GOTTA MAKE DA PAYMENT, DAS RITE

Anonymous Mon Oct 19 17:09:55 2020 No.23377794

>>23372068
unfortunately it already seems too late

>>23372301
>usury
Bingo. This is called opportunity cost and is why I still rent at 29.

>>23375885

trades or bartender arent your only options you absolut mongoloid. 75% of work is being done online, but yeah keep thinking that, id rather you stay poor, faggot. six figs wfh here.

>>23376333

bzsed and checked, what do you do?

>>	Anonymous Mon Oct 19 17:10:55 2020 No.23377818 >>23377777 checked

>>	Anonymous Mon Oct 19 17:11:02 2020 No.23377823 File: 7 KB, 227x222, 1601535793965.jpg [View same] [iqdb] [saucenao] [google] >>23377777

>>	Anonymous Mon Oct 19 17:11:08 2020 No.23377826 >>23377777 WASTED HOW WILL YOU PROPAGATE THE WHITE RACE?

>>	Anonymous Mon Oct 19 17:11:15 2020 No.23377828 >>23377777 First.

>>	Anonymous Mon Oct 19 17:12:57 2020 No.23377863 >>23377727 you just don't get it m8. readers will understand. seethe away

>>	Anonymous Mon Oct 19 17:14:03 2020 No.23377880 >>23377727 >no, no, trust me bro, you will come out ahead if you just stay in the same house in the same market for 20 years! bro PLEASE just stay here forever!!!

>>	Anonymous Mon Oct 19 17:14:44 2020 No.23377893 >>23377863 remember my post when you're 67 years old and still paying shekelberg $1500/month for rent until the day you die.

>>	Anonymous Mon Oct 19 17:14:44 2020 No.23377894 >>23377777 damn nice digits

Anonymous Mon Oct 19 17:17:59 2020 No.23377964

>>23377893
as i said, better to build a portfolio of homes to rent to other people
pay the mortgage with other peoples money
use the income / cash flow to pay your own rent.
very simple process here.

Grow cash flowing assets instead of building equity in a non cash flowing asset. Use your money to make more money.

#finance

>>	Anonymous Mon Oct 19 17:19:19 2020 No.23377986 File: 134 KB, 397x238, 1570583267546.png [View same] [iqdb] [saucenao] [google] >>23377777 the fuck is this trash

>>	Anonymous Mon Oct 19 17:21:48 2020 No.23378016 >>23377964 you get much lower down payment requirements and cheaper insurance if you do it owner occupied (maximum of 4plex if it's FHA i believe.)

>>	Anonymous Mon Oct 19 17:22:57 2020 No.23378030 It's ok to pay rent for a short time while you're getting established in your career or if you have a short term assignment and will eventually move once it's completed.

>>	Anonymous Mon Oct 19 17:23:13 2020 No.23378040 >>23376231 kys commie off my board

Anonymous Mon Oct 19 17:24:32 2020 No.23378060

>>23377691

Yep, I've done this myself.

There's now restrictions locally on rent increases and even on evictions for non-payment due to the memevirus so I'm happy to have moved into PM and PoS cryptos where I can earn the same passive income without the hassles.

But your strategy is solid for sure.

>>	Anonymous Mon Oct 19 17:24:50 2020 No.23378064 File: 340 KB, 1000x667, van life.jpg [View same] [iqdb] [saucenao] [google] >>23369279 Why would anyone choose to pay rent when they could take the vanpill?

Anonymous Mon Oct 19 17:25:46 2020 No.23378091

>>23378016
well yes doing a 4unit owner occupied thru FHA is great if you have the right property, but we are talking in general situations here.

I am personally going thru the process you just mentioned and it's not easy to find a very good property that's willing to go through all of the FHA hoops. If its a hot market, a lot of times there are cash buyers or folks that are already pre-approved on big loans. Sellers do not like FHA or low down payment buyers, generally.

>>	Anonymous Mon Oct 19 17:29:30 2020 No.23378178 >>23378064 actually a buddy of mine who is a BJJ world champion had been living out of a van in california for years. he basically took off to train out there when he just graduated high school. kind of wild, but very cool

>>	Anonymous Mon Oct 19 17:30:35 2020 No.23378191 >>23377777 What a waste.

>>	Anonymous Mon Oct 19 17:31:36 2020 No.23378214 >>23378064 Because it's harder to have sex when you live in your van.

>>	Anonymous Mon Oct 19 17:32:27 2020 No.23378231 >>23376826 Index funds. The S&P500 earns an average of 7% after inflation over a 30-year period, so if your mortgage intrerest is lower than that you're losing money by not using index funds. Let alone any more risky and profitable investments.

>>	Anonymous Mon Oct 19 17:33:26 2020 No.23378251 >>23377727 >bro low iq and dropped. the anon you're replying to is actually incredibly high iq. cope, seethe, dilate.

>>	Anonymous Mon Oct 19 17:33:55 2020 No.23378258 >>23378214 not true, chicks think its unique. women will do literally anythign for a unique experience. plus the walk of shame is literally like.. idk, hopping out the back i guess.

>>	Anonymous Mon Oct 19 17:34:57 2020 No.23378277 >>23378231 um....no....because you're still paying rent. you're still paying for housing, whether it's a mortgage or rent...are you a brainlet?

>>	Anonymous Mon Oct 19 17:36:27 2020 No.23378302 >>23378277 don't bother, it's like trying to explain buying a tv vs renting a tv from rent-a-center to a literal nigger.

>>	Anonymous Mon Oct 19 17:39:13 2020 No.23378345 >>23378302 i don't get it, i see so many people on /biz/ advocating renting over owning, using investing as a justification, as if by renting you're suddenly having extra $ to invest lol.

Anonymous Mon Oct 19 17:39:38 2020 No.23378353

>>23378277
he's referring to the down payment and the spread between rent and (mortgage + taxes + insurance + selling costs)

Yes either way you have a month over month 'living expense'. The point is that you are going to make more money investing in the market versus investing in your home

UNLESS

you are buying that home and renting it out to someone else to pay for it.

>>	Anonymous Mon Oct 19 17:40:28 2020 No.23378368 >>23378258 It's really not as easy as you think, the only girls who want that experience are typically fucking trash, degenerate junkie types. The fad is already passed.

>>	Anonymous Mon Oct 19 17:40:50 2020 No.23378374 >>23378345 Where are you getting the $ for the down payment...? Put it in the market. Is there a spread between the true cost of home ownership (not just the mortgage) and renting? Invest that too. Literally that lol.

>>	Anonymous Mon Oct 19 17:41:52 2020 No.23378402 >>23378368 i mean... you didn't say they had to be top of the line women. just wrap it before you tap it - sinple, rly.

>>	Anonymous Mon Oct 19 17:41:55 2020 No.23378404 >>23378345 most of /biz/ is financially illiterate, they don't understand concepts like cash flow and equity or shit like what an amortization schedule is and how it works.

>>	Anonymous Mon Oct 19 17:42:05 2020 No.23378408 >>23369310 you must be in a 12k crapshack lol

>>	Anonymous Mon Oct 19 17:43:07 2020 No.23378428 >>23378404 why are you even using the term 'cash flow' in an owner occupied property? you really are puffing your chest out on this whole 'i know finance' thing lol

>>	Anonymous Mon Oct 19 17:43:24 2020 No.23378433 >>23377777 chekt mortgage fags btfo also OP pic is a man

>>	Anonymous Mon Oct 19 17:45:12 2020 No.23378468 the secret to these rent/mortgage threads is the people who don't understand renters all live in the middle of nowhere with houses that cost <$20k. if i lived in that kind of a shithole, I wouldn't rent either.

Anonymous Mon Oct 19 17:45:52 2020 No.23378485
File: 454 KB, 1081x691, bitcoin pepe comfy.png [View same] [iqdb] [saucenao] [google]

money is better invested in Bitcoin than a house. you make 1,000% in bitcoin over ten years and use that to pay rent. bitcoin grows wealth faster than buying a house, its new technology

>>	Anonymous Mon Oct 19 17:46:08 2020 No.23378492 because you dont intend on living there for 15 years+? what's the mystery?

Anonymous Mon Oct 19 17:47:46 2020 No.23378523

>>23378428
free cash flow increases dramatically once mortgage is repaid. that is, you're living in a house for essentially free, relative to a perpetual rent payment. property taxes are a minor expense and are reduced by retirement abatements in many municipalities, and ongoing maintenance expenses should be minor if you didn't neglect your home for the past 15-30 years of your life.

>>	Anonymous Mon Oct 19 17:48:41 2020 No.23378535 >>23369279 Sombody has never had a mortgage before. They fucking suck and rip you off. Buy it outright or get cucked.

>>	Anonymous Mon Oct 19 17:49:46 2020 No.23378554 >>23378523 once you pay back your THIRTY YEAR mortgage you won't have to pay monthly for housing costs anymore, won't that be great when you're 55?

>>	Anonymous Mon Oct 19 17:50:10 2020 No.23378562 >>23378485 nigga shut the fuck up

Anonymous Mon Oct 19 17:53:21 2020 No.23378610

My house cost 77k in Louisiana. Outside of town. Half an acre yard. Huge shed in back with a couple large oak trees. Was originally listed for 130k but quickly came down to 80 as the seller wanted to get rid of it. Insane deal. My mortgage is 500 bucks a month all in a month after utilities is like 800 bucks. Typical 2 bed apartment less than 1000 square feet is pushing 1000 bucks in Louisiana. And is even more most other places. I feel very lucky to have found the deal and no, it’s not a shack. Original wood floors. High ceilings. And the ghost of the old lady who use to live there.

>>	Anonymous Mon Oct 19 17:54:45 2020 No.23378634 >>23371700 This. My parents got a 200k mortgage, but in reality if cost nearly 300k. The house is barely valued at 300k now. Can you actually imagine not even being break even after all of this time?

Anonymous Mon Oct 19 17:54:47 2020 No.23378635

>>23378554
it's amusing that you emphasize the 30 year term of a mortgage (nevermind that 15 year mortgages exist, or you can simply repay them in an arbitrarily short period of time) yet you ignore the indefinite nature of renting.

for a real laugh i should make you prove out two hypothetical yet realistic rent versus own scenarios in excel.

>>	Anonymous Mon Oct 19 17:55:08 2020 No.23378644 >>23378610 what city fren? i would like to buy a 77k house lmao also any problems with the house? does basement water?

Anonymous Mon Oct 19 17:57:06 2020 No.23378678

>>23378277
>>23378302
>>23378345
Do you not understand that a mortgage involves taking 20% of the home's price and paying it up front? If you buy a $200k house, that 20% down payment is $40k, THEN you pay your mortgage+taxes+whatever every month. You could instead INVEST that $40k over the next 30 years. At an inflation-adjusted average 7% rate of return over 30 years an S&P500 index fund will turn that $40k into $325k even if you don't add more money to it.
The opportunity cost of not investing that down payment into the market shouldn't just be handwaved as if it doesn't exist.

Anonymous Mon Oct 19 18:00:23 2020 No.23378732
File: 26 KB, 620x375, kevin2.jpg [View same] [iqdb] [saucenao] [google]

>>23378678
I think their argument is that there are $0 down loans or ways to make smaller down payments which would involve PMI...I don't know who qualifies apart from veterans but I can't imagine it's anyone who makes any money.

>>	Anonymous Mon Oct 19 18:01:28 2020 No.23378750 >>23371133 No house cope. My mortgage is about half the price of renting a similarly speced house, even with pmi and nobody tells me not to shoot my guns at 3 am.

>>	Anonymous Mon Oct 19 18:01:32 2020 No.23378753 It's hard to have sex

>>	Anonymous Mon Oct 19 18:03:14 2020 No.23378778 >>23378750 Congrats but you pay extra $$$ for not paying a full 20% down payment.

>>	Anonymous Mon Oct 19 18:03:26 2020 No.23378780 >>23378753 > the absolute state of biz right now

Anonymous Mon Oct 19 18:11:27 2020 No.23378928

>>23378678
$40k isn't money thrown into the void, it's instant equity and a reduction of principal. house sells for $200k, you put up $40k, mortgage is $160k. you have $40k of equity and that equity serves to reduce principal of the loan -- you aren't taking out a $200k mortgage, you're taking out a $160k mortgage. and this is completely ignoring the fact that most people don't put up 20% as the average down payment is <10% in the USA and as low as 3.5% with FHA mortgages, etc.

Anonymous Mon Oct 19 18:12:08 2020 No.23378949

>>23369279
the only two possible reason are:
- you can't pay the needed 25%-33% upfront
- you don't see yourself in that same property in the next 5 years and/or don't want to learn how to rent it to someone else or sell it with a mortgage if you move
this is the situation in U-rope; in Burgerland it could be different, since their real estate market and lifestyle are different.

>>	Anonymous Mon Oct 19 18:12:51 2020 No.23378956 >>23378778 MIP is like $150/mo and if you aren't a complete retard you refinance at 80% LTV so it disappears completely.

>>	Anonymous Mon Oct 19 18:16:15 2020 No.23379007 >>23369279 because they don't live in butt fuck nowhere where mortgage cost less than rent

>>	Anonymous Mon Oct 19 18:17:53 2020 No.23379026 >>23377777 mgtow confirmed high iq life plan.

>>	Anonymous Mon Oct 19 18:19:17 2020 No.23379052 >>23371700 Appreciation exceeds interest

>>	Anonymous Mon Oct 19 18:26:22 2020 No.23379161 >>23378949 or maybe you are smarter than a snail and put that 30% down payment into bitcoin and by the time you would have paid for your home you could buy a space station while renting.

Anonymous Mon Oct 19 18:43:40 2020 No.23379449

>>23378928
>you have $40k of equity and that equity serves to reduce principal of the loan -- you aren't taking out a $200k mortgage, you're taking out a $160k mortgage
You're still tying up that money right now in a place other than the stock market or any other investment that would be more efficient at earning higher returns than that mortgage. It's money that could be invested elsewhere, that's what opportunity cost is.

>>23378928
>this is completely ignoring the fact that most people don't put up 20% as the average down payment is <10% in the USA and as low as 3.5% with FHA mortgages, etc.
>>23378732
>$0 down loans or ways to make smaller down payments which would involve PMI
The problem is the PMI and other fees you incur for putting down a smaller amount of money, which just makes your ROI worse compared to putting the same amount of money in an index fund.

I'm not saying there's not necessarily some balance that can't be struck, and I'm not saying that there aren't OTHER reasons to buy a home. Yes, once that mortgage is paid off it's great, having control over your home and property is great, privacy is great. It's just that I really hate when people intentionally ignore that there are TRADE-OFFS in these scenarios. Everyone pretends that mortgaging a home is objectively superior to renting with absolutely no downsides. I'm merely presenting some of the downsides. You might still find a home worth the investment, but you have to at least consider the pros and cons.

It's also true that most people are completely financially illiterate, so forcing themselves to put away that down payment into a home and forcing themselves to pay into that equity is a lot better than spending it all on something more frivolous or letting it all rot away in a cash account. But when you're at the level of actually saving and investing portions of your income then the picture changes and you have to weigh the opportunity costs and see if it's still worth it.

Anonymous Mon Oct 19 18:45:16 2020 No.23379472

>>23378678
Hey retard,

It's pretty fucking simple. Payment on a 160k mortgage over 30 years is let's say ~$550 + $300bills per month.

A landlord would rent out that same property for conservarively ~$850 per month to get around 5% ROI.

Your 40k investment into the snp500 would have to achieve $850 + the capital gains from the house PER MONTH for you to be equal to the homeowner.

>>	Anonymous Mon Oct 19 18:45:58 2020 No.23379482 File: 24 KB, 112x112, 1599177024338.gif [View same] [iqdb] [saucenao] [google] >>23377777 based digital nomad asexual schizoid

>>	Anonymous Mon Oct 19 18:50:06 2020 No.23379544 >>23379472 So your 325k is minus the 850 per month you have been paying in rent = $19,000 except you are still having to pay rent forever. Gr8 investment m8

Anonymous Mon Oct 19 19:12:59 2020 No.23379875

>>23379449
let's do some back of the napkin math here. apples to apples, 3 bedroom house is about $300k where i live and a 3 bedroom apartment or townhouse is about $2000/month.

home ownership:
$300k house, $15k down, $5k upfront MIP (1.75% of mortgage), 0.80% MIP (assume for term of mortgage because i'm too lazy to calculcate it the correct way), $3k closing costs, 30 year mortgage @ 4.00%, 1.60% property taxes. index property taxes to 1% appreciation over 30 years. mortgage payment $1360/mo + $190/mo PMI + $460/mo property taxes (indexed) + $80/mo homeowner insurance + $150/mo reserve for maintenance and capital improvements. total monthly obligation is therefore $2230/mo, let's call it $2250/mo to fudge the numbers a bit.

30 years of rent at $2k/mo, indexed to 1% annual inflation: $835k cash outlay.
30 years of homeownership at $2250/mo: $824k cash outlay ($285k principal, $204k interest, $74k PMI/MIP, $18k down/closing = $581k + $28k homeowner ins + $50k maintenance/capital improvements + $165k property taxes)

now consider $300k of equity (recoverable rent payments) for the homeowner. now consider the next 30 years of your life as a renter vs a homeowner.

renter: $2k/mo in rent (well, indexed to inflation) until the day you die.
homeowner: 1.60% of property in property taxes (indexed to inflation, but also discounting significant benefit of retirement abatement) and minor maintenance/upkeep due to budgeted $150/mo reserve.

who comes out ahead?

Anonymous Mon Oct 19 19:13:32 2020 No.23379884

>>23379472
>Your 40k investment into the snp500 would have to achieve $850 + the capital gains from the house PER MONTH for you to be equal to the homeowner.
This depends greatly on the area. I've actually done the numbers where I live and compared mortgages of houses I'd be interested in to the rent I currently pay. In my area it works out like this, assuming a 20% down payment:
>mortgage + property tax + homeowners insurance = current rent
>house adds energy costs for heating and cooling a much larger area
>house adds water bill (water is currently already included in my rent with no extra charge)
>house must be maintained with regular repairs
>appliances must be bought, repaired, replaced periodically
So renting is actually saving me money, increasing my investable income, and allowing me not to pull out a large lump sum from my investments for a down payment. In 30 years if I want a house, my investments will have grown enough for me to just buy the damn thing in cash with more money left over than if I had put it into a mortgage today.

>>	Anonymous Mon Oct 19 19:14:10 2020 No.23379890 >>23370669 This, mortgaging is for average IQ. Renting is for low and very high IQ

>>	Anonymous Mon Oct 19 19:15:55 2020 No.23379917 >>23371146 Based and redpilled

Anonymous Mon Oct 19 19:17:51 2020 No.23379948

>>23379875
oh and also consider that i'm purposely indexing property taxes to "inflation" (assumed 1% appreciation gain of property) but completely ignoring this when i say $300k equity. in reality that $300k equity would probably be closer to $400k assuming 1% annual appreciation. yeah it's funny money (that exists in the hearts and minds of jew bankers) but you can draw down on equity with HELOC, reverse mortgage, etc.

>>	Anonymous Mon Oct 19 19:20:10 2020 No.23379983 >>23370669 just rent the place out to someone and have them build you equity by paying the note retard. You forgot people who are functioning autismos are slumlords

>>	Anonymous Mon Oct 19 19:22:03 2020 No.23380008 >>23371099 buy insurance on the home

Anonymous Mon Oct 19 19:26:07 2020 No.23380068

>>23377794
Lmao sure bud. Trades are fine and it seems could be a very rewarding job for me with a fairly low entry cost. Most jobs will pay for your schooling and then in my area at least I'll be making 60 to 80K and that's cool by me. I'm low ambition, low risk. Yeah I'm not gonna be a millionaire in a week, but I'll keep busy and retire just fine.

>>	Anonymous Mon Oct 19 19:26:13 2020 No.23380070 >>23371146 Kek. It’s random rants like this that keep me coming back to this place.

Anonymous Mon Oct 19 19:26:27 2020 No.23380073

>>23379875
>>23379948
My answer is basically unchanged here: >>23379884
You have to take into consideration the renter investing the money that the homeowner put into the house. As a renter I can leave that down payment lump sum in my investments earning an average of 6-7% per year over a 30-year period, plus those extra costs that a house incurs compared to renting also get invested in the same way. By the time 30 years is over, I would either have $200k inflation-adjusted equity in a house or an extra inflation-adjusted $350k in investments which I could then use to buy a house outright without paying ANY interest if I really wanted to.

Basically, until mortgage+insurance+taxes is LESS THAN whatever I pay in rent it's not worth it to me to mortgage a house given my current investment strategies and expected earnings.

>>	Anonymous Mon Oct 19 19:28:18 2020 No.23380102 >>23377169 Rent it out to someone, the only reason you buy a house from the bank is to "flip it" or rent it out and get those sweet sweet tax benefits. if you're gonna buy a personal property do it in cash ngl

>>	Anonymous Mon Oct 19 19:41:46 2020 No.23380262 >>23378956 thats what he's saying though. might as well just wait until you have 20% down unless its a screaming deal. you're paying more money than renting when you do 5%

>>	Anonymous Mon Oct 19 19:52:21 2020 No.23380424 >>23371700 Oh no. 2.2% interest on an asset that appreciates 4% per year with only 20% down (effectively giving 5x leverage) at a time when inflation is AT LEAST 2.5% How will I ever cope lmao. Build a spreadsheet, anon.

>>	Anonymous Mon Oct 19 19:59:24 2020 No.23380513 >>23380424 >2.2% interest on an asset that appreciates 4% per year So a 1.8% profit per year over 30 years compared to just investing that money in an index and getting 5-7% profit on average over 30 years? What a steal!

>>	Anonymous Mon Oct 19 20:00:38 2020 No.23380536 >>23372786 Here in DC even houses in the ghetto are going for 500k. So many people thought the market would crash here but prices in the entire area have skyrocketed.

Anonymous Mon Oct 19 21:01:22 2020 No.23381371

My fiancee and he retarded mother are struggling to understand we're poor. We have 50k saved living with my mother but I told her I don't want to borrow more than 150k for a 30 year mortgage so I don't have to be a broke dick old man chasing a mortgage and not seeing our kid grow up. Her mom met a much older man with a good union job in like 1989 that got her into one. The problem is, those jobs aren't around like that any more and most city low skill union jobs go to niggers here. Why is it so hard for people to understand finances? I'm retarded and have no problem.

>>	Anonymous Mon Oct 19 21:12:53 2020 No.23381563 mort = death gage = pledge

>>	Anonymous Mon Oct 19 21:23:05 2020 No.23381707 >>23369287 3%

Anonymous Mon Oct 19 21:38:11 2020 No.23381918

>>23369279
Activity based costs.

A house requires me to pay x amount of time towards maintaining the property, buying tools to maintain the property, and even then, I'd likely want to fix up the house anyways.

It's a circumstantial thing as well. Where in my case, if my hourly is worth 35-45$/hr and I have to basically spend 3-12 hrs per week taking care of my property, that's a negative $120-$480/week. On the other hand, if I allocate that time towards income generative pursuits, or something even more valuable than that, that puts me on the other side of the spectrum (coming out positive, and consequently, having more efficient use of capital), which makes me wealthier.

It really boils down to what you want. I'm considering buying a house, but mainly due to this fact. What's I'm seeing however, in my area, is that there are loads of slum lords and dumps these "scum bag" property managers are renting out at ridiculous prices. I even talked to one today who wanted was offering a $925/mo unit, and the guy basically groaned when I asked him for pictures. He directed me to online and all it is is an exterior pic. Went to check out another apartment for $665/mo and it was like someone gutted a 0.5 star hotel and just threw some walls up, a mini kitchen, etc. I was astonished people rent for this low, but, as they say, American's don't like to be uncomfortable.

>>	Anonymous Mon Oct 19 21:55:54 2020 No.23382170 >>23369279 That's a man Sage

>>	Anonymous Mon Oct 19 22:01:33 2020 No.23382264 >>23381371 >Why is it so hard for people to understand finances? People generally have a hard time with abstract thinking and long-term thinking. Finances require both.

>>	Anonymous Mon Oct 19 22:20:17 2020 No.23382536 File: 162 KB, 1973x1125, 0FA1C360-FAAA-491B-B56D-370ED3DD7F64.jpg [View same] [iqdb] [saucenao] [google] >>23371146 Seethe t.portnoy

>>	Anonymous Mon Oct 19 23:37:08 2020 No.23383639 >>23369279 that's a pretty man

>>	Anonymous Tue Oct 20 00:34:39 2020 No.23384210 >>23369279 some are expats and others are stupid

>>	Anonymous Tue Oct 20 01:59:39 2020 No.23385046 >>23369279 LMAO. Central banks paying pajeets to shill on biz now.

>>	Anonymous Tue Oct 20 02:20:57 2020 No.23385258 >>23377794 >bzsed and checked, what do you do? software engineering at unknown startup -> well known tier 2-3 US tech companies

Anonymous Tue Oct 20 03:09:08 2020 No.23385671

>>23376260
You’re so dumb it hurts. You might already have a mortgage so the cognitive dissonance might be impossible to break through, but for other anons, rent, put your savings into compounded boomer interest funds That avg >6%, or crypto if you’re riskier and I guarantee you’ll make more than 20% down on a house and then paying the bank your whole life.

>>	Anonymous Tue Oct 20 03:13:10 2020 No.23385700 >>23380073 This.

>>	Anonymous Tue Oct 20 03:14:57 2020 No.23385720 >>23378634 What is time value of money and inflation

>>	Anonymous Tue Oct 20 03:51:54 2020 No.23386067 >>23372792 >her

Anonymous Tue Oct 20 04:03:51 2020 No.23386154

the amount of mental gymnastics and seething coming from the renters in this thread is glorious. literally, renters, it's like this:

1) rent, pay off your landlords mortgage, own nothing in the end.

2) buy, pay off your mortgage, own house in the end

no amount of 'but i invested the down payment' is going to make up for months/years/decades of renting because every penny you spend on rent is going into your landlord's pocket.

>>	Anonymous Tue Oct 20 05:35:10 2020 No.23386977 >>23380513 You'd have to subtract rent from the money you'd be investing. In many cases there'd be nothing left to invest. 1.8% profit over 30 years is great compared to a recurring liability that increases annually.

>>	Anonymous Tue Oct 20 05:54:05 2020 No.23387209 >>23369279 god I hope this is a man

Anonymous Tue Oct 20 06:02:13 2020 No.23387308

>>23369279
Market won't allow it.

Moved out with 200 to my name, saved up 20% like I was told too, took advantage of first time home buyer insentive.

I've put down over 30 offers, all out bid by flippers, downsizing boomers, or mellenial trust fund babies. Its to the point now i might need to move just to afford a house. It sucks.

>>	Anonymous Tue Oct 20 06:23:47 2020 No.23387548 >>23377597 Did you put all your money in BTC when it was $10? https://www.youtube.com/watch?v=vrKlAAWz8EI

Anonymous Tue Oct 20 06:55:54 2020 No.23387908

i'm 35, i've never lived in any home for more than 5 years (most only 2-3 years). if you don't live somewhere for more than 5 years you are probably losing money on the house (unless you live in a crazy market, which i never have).

my income has quadrupled over the last 8 years

i'm able to grow savings w/o home equity because i exercise self control on my spending. with this year being by best in the market by far (up 160% on just one 72k play since april)

where i live my 2100 per month in rent gets me a better apartment than home and i'd rather not have my place of living be more than 20% of my monthly take home pay

>>	Anonymous Tue Oct 20 06:59:29 2020 No.23387947 >>23369279 you can only realistically pay off 3 to 4 times your annual income max, I would have to buy a house 3 hours drive from my job to find anything even close to that.

>>	Anonymous Tue Oct 20 08:04:40 2020 No.23388786 >>23369570 If you need to move, you can sell the house. Even if the house is worth less you are still better off than if you had paid rent.

>>	Anonymous Tue Oct 20 08:14:02 2020 No.23388891 >>23372162 Hey dummy, you can sell your house before you pay it off ya know? House value - Unpaid Principal = Profit That Profit can be used for a downpayment on a nicer home

>>	Anonymous Tue Oct 20 08:15:13 2020 No.23388906 >>23385671 you are one retarded nigger.

Anonymous Tue Oct 20 08:17:49 2020 No.23388938

>>23372799

You do realize that him having a massive underlying asset gives him enough collateral and leverage to do literally anything he wants?

Also it sounds like your grandpa didn't need the money or else maybe he'd have sold it.

Finally, some of us want to provide for our next of kin and not just be a skid mark in the annals of history

I am really questioning the intelligence on this board lately...it seems like after every bull run more high IQ anon leave because they've made it...

>>	Anonymous Tue Oct 20 08:18:19 2020 No.23388947 why so many replies on a slide thread?

>>	Anonymous Tue Oct 20 08:21:26 2020 No.23388984 >>23376213 Not to mention huge tax deductions for the owner every year. I get to write off maybe $10-$12k in taxes every year which saves me about $4k-$5k every year... so my effective mortgage is subtracted by about $400

>>	Anonymous Tue Oct 20 08:24:10 2020 No.23389020 Test Reply 1

>>	Anonymous Tue Oct 20 08:36:08 2020 No.23389203 >>23371151 Bro check your pattern recognition lmao your brain is severely fucked up you're beyond any help if you see a woman in the obvious man face do you do drugs?

Anonymous Tue Oct 20 08:36:21 2020 No.23389204

After reading this thread I've confirmed any renter is akin to a wage-cuck and is a poorfag

Get fucked renters, gotta pay Daddy landlord your money by the end of the month. Hell be sure to save that money in his mortgage for his next of kin.

Fucking idiots don't realize that $2k retained as equity month over month is far better than dumping $1.5k into the void, even IF you took a $30k downpayment and made "muh 6-7% in the stock market".

You realize over 30 years ago 1.5k a month youd be blowing $540,000 in rent? Useless money that's gone?

Alternatively that money is retained as equity and when you sell your home you get it all back

Jesus fucking christ you people, especially that light blue ID Guy who was running this thread, are unbelievably retarded

Anonymous Tue Oct 20 08:39:04 2020 No.23389237

>>23388891
Some people can't do this.
In a lot of areas that used to be priced at the right market price have sky rocketed in value because of location. People who were paying 800 - 900 dollar mortgages or lower wouldn't be able to afford another mortgage that is higher.

Anonymous Tue Oct 20 08:41:29 2020 No.23389271

>>23389204
i know what you mean. it's like basic math isnt even taught in school anymore. doesnt matter if it was a 100k down payment, the fact you spend the following decades throwing money into the void by paying rent, negates any reasonable expectation of return on investing the down payment instead.

>>	Anonymous Tue Oct 20 08:44:07 2020 No.23389305 >>23377551 Why house prices only go up?

Anonymous Tue Oct 20 08:45:49 2020 No.23389331

>>23369310
it might be better for you to save for a couple years and use that as a bigger downpayment. why dont you post some more info, like your mortage amount, and what you pay, so we can do a simple amortization table and see whats up?

https://www.amortization-calc.com/

>>	Anonymous Tue Oct 20 08:46:22 2020 No.23389338 >>23371146 >I'm such a top human being I come to /biz/ and post retarded shit and I lack any empathy your mom tried to abort you but she failed thus you were born

>>	Anonymous Tue Oct 20 08:49:02 2020 No.23389376 >>23389204 People here literally dump their life savings into pajeet scamcoins, what did you expect?

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