[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 236 KB, 400x416, kdwuv2wc5dx41.png [View same] [iqdb] [saucenao] [google]
29715691 No.29715691 [Reply] [Original]

MY FUCKING MORGAGE AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>> No.29715756

>he's a debt slave

Why do people call it mortgages instead of loans or debt?

>> No.29715774

How are mortgages affected?

>> No.29715807

More like morleverage amirite, lmao

>> No.29715820

>>29715691
Please tell me you didn't take advantage of a fixed-rate mortgage..

>> No.29715898

>>29715774
retards who get variable interest rate mortgages might be affected by market volatility

>> No.29715916

I shit you not this guy I work with pays 2700 a month for a mortgage and we make about 2700 here so he just works 70 hours a week. That is the definition of wage slavery.

>> No.29716449

>>29715756
Because its an appreciating asset

>> No.29716472

>>29715916
You enslave yourself to a bank for 30 years. The bank takes at least 50% of your salary (feudal lords only took 10% and the church another 10%), and the reason you're willing to do this is because you're greedy enough to think somebody will enslave themselves to a bank for 50 years and buy it off you later. Why are people surprised crashes happen?

>> No.29716594

This one company who's slogan is "We speak mortgage" and every time I see or here that shit it always makes me laugh, because mortgage translate to death pledge in French.

>> No.29716641

>>29716449
not always :^)

>> No.29716643
File: 78 KB, 1150x507, muh houses.png [View same] [iqdb] [saucenao] [google]
29716643

>>29716449
>appreciating asset
Nothing really appreciates long-term, anon. The dollar just goes down. That's why people think housing and stocks always go up. the market is a cycle, and the cycle exists because people are greedy and want to get rich quick.

>> No.29716996

>>29716449
>>29716643
houses are always depreciating asset, though it ages 3x longer than your gf but the maintenance will be more than what you've paid for

>> No.29717004
File: 250 KB, 1424x1080, 1510457928138.jpg [View same] [iqdb] [saucenao] [google]
29717004

Honestly, I want to buy a house. Should I just wait another two years?
How do you think housing prices will be in the next year?

>> No.29717062
File: 165 KB, 1462x667, 435254334.png [View same] [iqdb] [saucenao] [google]
29717062

>>29717004
Wait for the housing market to collapse.

>> No.29717076

>>29716449
holy based

>> No.29717130
File: 75 KB, 224x225, 38974927394723947.png [View same] [iqdb] [saucenao] [google]
29717130

>>29715691

>> No.29717170

>>29716472
Only a moron gets a loan that's 50% of their salary. My mortgage is 15% of my net income.

>and the reason you're willing to do this is because you're greedy enough to think somebody will enslave themselves to a bank for 50 years and buy it off you later
You say this as if this doesn't actually happen... all the time. Unless you live in nogville your house isn't going to cost less than you paid for it. Even houses that crashed in 2008 are now well above the prices they were in 2008, so if you unironically held you would still get your money back. So compared to renting which is 100% throwing your money away your mortgage is only partially throwing your money away (whatever you're paying for interest).

>>29716643
You're ignoring the fact that real estate is limited and the population keeps going up. More people compete for the same property if your property is in a desirable location.

>> No.29717320

>>29717004
This is honestly probably the worst time to buy a house. And when you do buy your house put at least 20% down and you can completely avoid the 2-5% insurance fee they charge for anything less. And I would put even more than 20% down, the more the better.

>> No.29717353

>>29715691
Nobody who actually has a mortgage would forget that it has a t in it.

>> No.29717362

>>29715691
Im done 50%
But I didn't get my house. Idiot.

>> No.29717416

>>29715756
>Mortgage
Is literally a debt you owe until death.
25 years is considered a lifetime.

>> No.29717458

>>29717170
>Only a moron gets a loan that's 50% of their salary. My mortgage is 15% of my net income.
Your mortgage might be only 15% of your income, but most mortgages are around 40%. And your house price is dependant on those people not losing their jobs.

>You say this as if this doesn't actually happen... all the time. Unless you live in nogville your house isn't going to cost less than you paid for it. Even houses that crashed in 2008 are now well above the prices they were in 2008, so if you unironically held you would still get your money back. So compared to renting which is 100% throwing your money away your mortgage is only partially throwing your money away (whatever you're paying for interest).
Again, this is based on the false presumption that houses appreciate in value. They do not. The dollar just loses value. Against any other asset (gold is the most useful because it has the largest market cap of any asset in the world) you can clearly see that it goes up and down like everything else and never appreciates long-term. Stocks do not always go up. houses do not always go up. They go up in dollar value, but the value of the dollar goes down as more are made. You're not gaining purchasing power or quality of life.

>You're ignoring the fact that real estate is limited and the population keeps going up. More people compete for the same property if your property is in a desirable location.
The population of most first world countries is actually going down. Look at Californian house prices. Californian population has been in a bear market since 2002 and yet housing hasn't stopped going up. Population has nothing to d with it - cheap debt and money printing is everything.
The world is an extremely big place. There's lots of space.

>> No.29717485

>>29715916
>2700 / mth
What did he buy a meme Mansion

>> No.29717590

>>29716472
The problem is some people AREN'T greedy, a lot of normie retards just don't have the willpower and will just go with the flow on whatever the bank's will allow them to borrow. If they were greedy they would of actually had the forethought to not over extend into debt.

>> No.29717652

>>29717458
Houses in my state are universally all up over the last 30 years. Try again. Demand for houses in my state are so high that not only are all homes at record highs but they sell in less than a week on the market. You're completely ignorant. And the irony is you're likely someone who invests in literally magical digital currency that inherently has zero value.

You can at least live in your home.

>> No.29717850

>>29716449
Land is the appreciating asset, the house is a depreciating. You want to buy land with a house that cost nothing to tear down and replace.

>> No.29717956

>>29715756
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.

>> No.29718057

>>29717590
>If they were greedy they would of actually had the forethought to not over extend into debt.
This statement makes no sense. They overextended into debt because they believe that house prices always go up, and they have to get in on ~the property ladder~ while they can afford it. They can then sell their house later to someone for more money down the track, or refinance on equity and make a profit. Greedy people do not buy something they cannot afford. These people cannot afford their houses. They bought them anyway because they thought they would make money.

>>29717652
>Houses in my state are universally all up over the last 30 years. Try again. Demand for houses in my state are so high that not only are all homes at record highs but they sell in less than a week on the market. You're completely ignorant. And the irony is you're likely someone who invests in literally magical digital currency that inherently has zero value.
I guarantee you that if you compare the price of your housing to the price of gold, or any other asset, in that time you will see as bright as day that it is money going down and debt being cheaper. The value of your house is not increasing. The price is going up. It's still the same house.
Your argument is that this housing bubble is a new paradigm and not a mania because housing is at an ATH. You are wrong. This is a mania just like the dozens of other housing bubbles in the past couple hundred years. The value of something relative to other things cannot increase forever. Either everything else gets more expensive and the relative value of your house goes down, or the nominal value of your house goes down and gets back in sync with the rest of the economy. Likely both.

You, like the rest of the market, have been affected by greed and think that your house is just going to appreciate forever. It won't. Even if the dollar price increases, which is not a guarantee, the real value will come crashing down.

>> No.29718161

>>29715691
I get paid on Friday so it's good that this dump happened.

You're not a swingie, are you?

>> No.29718171

>>29715691
I USED MY WIFE’S SON’S COLLEGE TUITIONS TO BUY BTC

>> No.29718209

>>29715691
OP, aren't you going to comment in your own thread?

>> No.29718210
File: 498 KB, 1423x1431, 1603834151305.png [View same] [iqdb] [saucenao] [google]
29718210

>>29715691
>he didn't know what mortgage stands for in french

>> No.29718712

>>29718171
That would be funny as hell though

>> No.29719011

>>29715756
>>29715916
>tfw bought my house for less than one BTC and don't owe anything
Shame that the property tax isn't lower

>> No.29719083

>>29715756
The truth will hurt people, goy