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/biz/ - Business & Finance

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50506498 No.50506498 [Reply] [Original]

>5/25/2006 Sold $514,390 ($756,048.69 2022 equivalent)
>6/1/2022 Listed for sale $524,900
>6/19/2022 Price change $514,900
can you imagine the stress of bagholding a $242k loss for the past 16 years? and that's not even counting the interest payments that you've pissed away over the past 190 something months.

>> No.50506598
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50506598

My house was first bought for $49k in 1975 and I bought it last year for $420k

>> No.50506645

>Charles Town

Lmao what the fuck, there's nothing there besides the casino.

>> No.50506663
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50506663

>>50506498
I'd give maybe $100,000 for it. I can live in my tent for $100.

>> No.50506678
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50506678

>>50506598
i'm seeing up to a 45-50% increase over just the past 2 years in my area. it's insane. kek.

>> No.50506687 [DELETED] 

Stage 1. buy trashtoken. Stage 2. waste everything. Stage 3. Cry a river on 4chan. dont be such an asshole. Use Yopi Network!

>Backed up by gold the yopi.network sustains very strong currency
>Micropayment services
>No team coins
>90 days lock = 66% APY

>> No.50506710
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50506710

>>50506678

>> No.50506766

could they have refi'd?

>> No.50507095
File: 114 KB, 1120x1212, lmao opendoor.png [View same] [iqdb] [saucenao] [google]
50507095

>>50506678
>>50506710
Don't worry anon, even Florida is now beginning to crash. The return to normal has begun

>> No.50507227

>>50506498
>interest payments that you've pissed away over the past 190 something months.
Not an issue. Still a better investment than renting which is always a net loss.

>> No.50507324

>>50507095
that's reassuring. i'm grinding my wagie career so i can get another promotion/raise soon and i hope to buy in another 1-2 years. looking forward to the razzing some boomer faggots at their open house.

>> No.50507350

Kek I made 200k in 2 years on property.

>> No.50507834

>>50506678
That is a very ugly house anon

>> No.50508277

>>50506678
I would be very surprised if that thing sold at that price. Ignorant bulls still exist, but banks are really reigning in the spectards now.

>>50507095
God damn, that's some good bear porn. Fuckers thought they could mint 35k for nothing.

>> No.50508979
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50508979

>>50506498
>House flippers that didn't even do value adds are getting ass raped.

Good. Sitting comfy waiting to slurp up their half finished projects.

>> No.50509375

>>50506710
That house would be cool if re-sided and painted to appear modern and play off the the stage shape.

>> No.50510186
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50510186

>>50506710
that $200k+ jump will be 'extensively remodelled by developer' - last Street View is from 2012, but I'd bet it grew 2 bedrooms shortly after mid '21. One being the old garage, and the other that shed tacked on mid-roof. There's (naturally..) reasons you dont do either, but, whatever. 4 beds = double the price, amiright?

>> No.50510301
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50510301

>>50506678
>45-50% increase over just the past 2 years

what i dont understand is what kind of faggot sees this and actually buys? they're telling you right out in the open that you're being fucked

>> No.50510530

>>50510301
there's a lot of niggers and white niggers in this area. i don't understand how people can look at these places and say, yeah, it's totally worth $2200/month between mortgage + utilities + property taxes + other bullshit for the next 30 years of my life.

median household income in this area is also $85k/year so i'm not sure how anyone can afford that kind of payment on $5.5-6k/mo post-tax household income. i'm personally (barely) a six figure nigger and there's no fucking way i'd dump $2200/month into housing.

>> No.50510538

>>50506598
My parents bought their house for $172k in 1995 and they just sold it for $580k. I don't understand how this shit is sustainable.

>> No.50511034

>>50506498
>West Virginia

Gee, I wonder why it lost value.

>> No.50511042

>>50506498
City full of niggers I bet

>> No.50511055

>>50511042
Charles Town WV is actually 75% white.

>> No.50511196

>>50510538
It’s not, despite what the home owning nerds on this board like to claim. Something will have to give eventually or there will literally be riots in the streets in 10 years. People always talk about the you own nothing and be happy bullshit but if it truly comes to the point that the average middle class person can’t even afford a house in the country, there will 100% be riots and civil unrest. There’s already a lot of that going on now it’s just not at the tipping point yet.

>> No.50512187

>>50506710
Jusging by the style it looks like the architect usually only does holocaust memorials and jewish community centers

>> No.50512594

>>50507095
Oof. 3 months on the market and can't sell at an underwater price. Them some heavy bags in residential RE. You know listing it for less than purchased 3 months earlier had to be devastating psychologically to the flipper. A flipper can't sustain their heavy debt if real estate starts crashing.

>> No.50512611

>>50506498
>bought the top of the housing bubble
>bought a home as an "investment" in bumfuck VW
>now trying to sell the inflection point in the market where no one wants to buy or take out a mortgage
Legendary

>> No.50512633

>>50512187
>Levittown

>> No.50512670

>>50506498
I don't care. Real estate is not and should not be an investment. Speculators are part of the reason the marker is so fucked.

Build or buy a house and live in it. That's what it's for. Not for sucking wealth out the economy like a parasite.

>> No.50512695

>>50510301
It's just how it works. Nobody bought gov't bonds in 1980 for 15% gain, but everyone bought them recently for negative or barely-positive real yields. Nobody bought bitcoin at less than $100, and now we all kick ourselves, but bitcoin minted billionaires out of the people who were willing to be the only buyers at that price and hold and sell to the masses at five digits. The masses always line up on the wrong side of the trade due to psychology. Past gains in real estate and passive stock market investing during expansionary financialized boomtimes has made so many people accept as 'fact' that real estate and stocks are the best place to be and always go up. Winners will be banks and big money as usual, but some smart people will propel themselves to wealth during the shakeup.

>> No.50512746

>>50512594
Flippers got away with murder if they had an IQ of 80 over the last 2 years. Going forward flipper will get murdered try the same tricks.

>> No.50512801

>>50510301
The gov also printed 40% of all dollars in the last two years. Housing is actually not that high compared to the money, way lower than in 2000 probably. Once the money slowly circulates it will reflect in all goods as well and housing won't look as expensive. The Fed can also drop a nuke and slow it short term. but it won't matter, will make it worse long term because there's structural problems in building, housing is slow and a lot of homes are needed

>> No.50513139

>>50506498
>a mcmansion in a backwater with no jobs
>doesn't sell
no kidding. boomers are about to lose their asses.

>> No.50513661
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50513661

>>50506498
And on top of it all the $500,000 is worth substantially less than in 2006. He is still technically underwater even if he sells "even". Now that is a super bagholder.

>> No.50513685

>>50510538
It's not sustainable and everything is going to implode

>> No.50513747

>>50506498
Only retards treat their homes as investments. That being said choosing a McMansion as a home is retarded. And one in WV is even more retarded

>> No.50513976

>>50513661
Boomers see a mcmansion in NOVA a 30 minute drive to DC at $500k. So they build a mcmansion in Podunk, WV and expect to sell it for $500k. Boomers are literally that retarded.

>> No.50514267

>>50507095
>hey guys look at this one example of a home that obviously has some sort of crippling issue or they wouldn't be trying to instantly sell the properly for less than they paid for
>the market is healing!!!!!!!!!!!!!

>> No.50514698

>>50510538
It’s not. Fortunately or unfortunately depending on your age, it ends in extremely high inflation passed onto Gen X and Boomers in particular as they go to liquidate their assets throughout retirement. The real concern for the younger generation is whether America can rebound into a first world country, after what I could only imagine results in a financial reset as unproductive retirees compete to capture the labor of the young for necessary caretaking/services.

Luckily the FED is trying to soften the potential catastrophe that comes with graveyarding the global boomer population by holding up MBS.

>> No.50516182

>>50513976
It’s not possible to find a McMansion here in nova for 500k…try 800k if not more

>> No.50516296

>>50513661
It just goes to show you how little most home owners actually understand the math.

>> No.50516316

>>50512670
>Speculators are part of the reason the marker is so fucked.
central banking caused this
speculators are just along for the ride

>> No.50516402

>>50506678
>>50506710
>shitty looking houses
>in a shit area
>$350,000 a pop
if anyone is buying these houses to live in then they are the dumbest niggers on the planet

>> No.50516710

>>50507095

Kek, fuck flippers

>> No.50516744

>>50516182
typical wage in nova: 80k
typical wage in flyoverstan: 15k

>> No.50516800

>>50516316
Yup. If you can make profit with speculation that means you helped the market to better allocate resources. But you have to speculate from your own money for your own responsibility.
When you speculate from freshly printed loans that fucks up every rule.
When you are getting bailout that fucks up the rules even more.
Inflationary central banking is harmful and evil.

>> No.50516844

>>50516744
what? no, median household income here is 120k. But a McMansion is also proportionally higher

>> No.50517030
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50517030

>>50516800
Based Austrian econ understander

/biz/ is an austrian economics board

>> No.50517073
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50517073

>>50517030
>/biz/ is an austrian economics board
Sadly not.

>> No.50517120
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50517120

>>50516800
based

>> No.50517144
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50517144

>>50517073
>Sadly not.
more than other boards at least

At least the commodities and PM threads are very austrian.

>> No.50518153

>>50514267
>some sort of crippling issue
Feel free to point that out to me:
https://www.realtor.com/realestateandhomes-detail/1438-Sunset-Ln_Casselberry_FL_32707_M59033-08752

>> No.50518269
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50518269

>>50506645
45 min to Dulles and 60-90 minutes to DC/Baltimore which has 10 million people & jobs. Solidly red state.

>> No.50518273

>>50514267
Price drops and inventory levels are increasing all over the country. Its happening more in the areas where the price of housing has increased the most relative to median income.

>> No.50518409
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50518409

>>50518153
>Wrong side of the expressway. Head east to Oviedo and the number of people on free lunch at schools is cut in half and there's actually a white majority
>No neighborhood, no parks/schools to walk to
>No view
>No pool and it's July
>West facing with cheap blinds for window treatments
>Floor plan is closed
>Home is 43 years old
>Updates were done cheaply, neither shower has a glass door, tiny mirrors
>Bad quality photos
>Zero landscaping
>Ugly curb appeal (Red and Gray? Really? And update the garage door)

>> No.50518950

>>50518409
Just realized that the garage was converted. So it's not a true 4 bedroom. Home next door sold for 380k last month.

>> No.50519517

>>50518409
>>50518950
tldr lmao thanks for playing

>> No.50519754

>>50507095
>>50506678
>>50506710
Location matters a lot. Demand for good places is still sky high because no one wants to sell. Gated communities with strict security detail has seen unprecedented demand lately.

>> No.50521837

I make 100k in a plains flyover city and my house was 199k 2.99%
If house nig really does crash I’m buying a second one and renting out this shithole

>> No.50523067

>>50521837
If you live there, you aren't allowed to call it a flyover city.

Only angry nig loving coast dwellers are allowed to use that language to make themselves feel better

>> No.50524600
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50524600

>>50513661
Holy shit, you aren't kidding.
Pic related.

>> No.50524865

>>50506498
The same will happen to the people buying houses nowadays.