/biz/ - Business & Finance

[Anonymous No.51338810]

I rent a brand new house. My landlord is currently losing roughly $1000 per day in value as house prices are declining, while his mortgage costs are going up with interest rate increases.

He asked to raise the rent and we told him no since average rents are falling here. He has a mediocre job and will probably go bankrupt trying to keep this property.

I have a highly paid IT job and can easily afford to buy a house but decided to let idiots like my landlord take all the risk and baghold at a major loss.

[Anonymous No.51338832]

>>51338810
Why would his mortgage rate increase? He’s already locked in
Just another retarded frog nigger LARP

[Anonymous No.51338840]

>>51338810
Lol landlord cucks btfo yet again.

[Anonymous No.51338844]

>>51338810
Pretty based anon. The sleeping giant here is that rent is actually starting to go down with the value of the house. The Landlord-pocalypse is going to be fun

[Anonymous No.51338845]

>>51338810
Good for you. When you leave open a vent and put a fish in there and replace the vent.

[Anonymous No.51338861]

>>51338832
Only the US has 30 year fixed rates.

Here most people fix for 1 or 2 years or at max 5 years. When people roll off their low rates from 1 or 2 years ago they're getting huge mortgage rate increases.

[Anonymous No.51338864]

Can we get a wojack landlord like the zestimate stacy

[Anonymous No.51338910]

>>51338810
You are lying. None of if what you posted is true. You are priced out of home ownership. You cope by coming here with your lies. You will never make it. You will always rent. You always be poor.

[Anonymous No.51338920]

>>51338832
Almost no countries offer 20+ year fixed rates. American banks do it because they know that if they get it wrong and end up with liquidity issues they will be bailed out by you, the taxpayer

[Anonymous No.51339228]

>>51338810
Based, free market after all

[Anonymous No.51339459]

>>51338861
a fellow leaf
laughing at my uncle who fomoed literally at the top in February and is also probably losing 1k per day

[Anonymous No.51339494]

>>51338910
>t. bought in the last 5 years and is going to be under water in real terms for the rest of his life

[Anonymous No.51339502]

>>51338910

[Anonymous No.51339519]

>>51339228
Cope it’s a highly controlled market.

[Anonymous No.51339550]

>but the guy on tiktoK said "it's literally this easy BOOM!"

[Anonymous No.51339569]

>>51339502
What was it like before February? Before 2020? I know c*nada is expensive and has been for a long time, but are these percentage drops significant in the long term? Or just 30% down from a 200% inflated market? Bit of a useless graph, like most.

[Anonymous No.51339605]

>>51339569
toronto prices are the same as pre covid
then
https://housesigma.com/web/en/market?municipality=10343&community=all&house_type=D.&ign=
most cities in ontario doubled since 2020, but we are gonna retrace all those gains

[Anonymous No.51339658]

>>51339605
1.5 was the median before jewrona? Fuck no wonder you guys are always complaining. I've been to Toronto, maybe twenty years ago, and could not imagine paying a third of that to live there. I'm not even trying to trash your country, but that is fucking grim.

[Anonymous No.51339720]

>>51339658
they were also close to that in 2017,
so just like btc 5 years and nothing to show for it
for only the city of toronto suburbs and exurbs and rural areas went insane
people are delusional here, i'm was gonna leave canada for good but every month my chance of ability to afford a house is going up a lot, even with higher rates

[Anonymous No.51340923]

>>51338832
Not necessarily. Some retards actually get balloon mortgage payments and end up getting screwed in the end.

[Anonymous No.51341025]

>>51338810
>while his mortgage costs are going up with interest rate increases.

That’s not how mortgage rates work anon…