/biz/ - Business & Finance

[Anonymous No.54900106]

You will never own a house.
They are still paying cash on the same day they tour the house.

[Anonymous No.54900116]

>>54900106
Where? Post proof.

[Anonymous No.54900128]

>>54900106
I have over 500k I can literally buy a massive mansion right outside a large city in the northeast

[Anonymous No.54900129]

>>54900116
New Jersey. Colorado is the same way. Look at zillow. Only the absolute worst homes are dropping in price.

[Anonymous No.54900158]

>>54900129
Negative, this shit is fake and manufactured. Ain’t no one buying fucking houses at 6 percent when all know damn well they gonna drop the rates again. Banks aren’t even approving of loans

Fake faggoted nigger

[Anonymous No.54900170]

>>54900158
Guy I work with literally just closed on a 430k house at 5.9%. Follow some cool houses on zillow. They will be gone by the end of the week. Do some research country bum

[Anonymous No.54900181]

lol if that photo is true every single one of them is fucking retarded. that doesnt surprise me though

[Anonymous No.54900192]

>>54900170
>will be gone

no they wont

[Anonymous No.54900199]

>>54900158
normies do the next worse thing and buy a 6% loan with cash
whatever lock up their capital in home equity when mortgage applications are plumetting and miss out on all the good opportunities elsewhere

[Anonymous No.54900200]

>>54900158
>all know damn well they gonna drop the rates again
lol. lmao

[Anonymous No.54900205]

>>54900106
I have 300k sitting on the sideline ready to buy a 1M house when I find the right one

[Anonymous No.54900219]

>>54900106
The housing market is brutal out there. Housing needs to implode but they can't let it because the banks wrote several TRILLION dollars of MBS paper.

[Anonymous No.54900224]

>>54900106
Go back
>b-but no I saw it on 4chan and decided to save it
Not how it works. Your filename exposed you as a faggot. Go back

[Anonymous No.54900227]

>>54900205
How much do you make annually for them to be okay with giving you a $700k mortgage?

[Anonymous No.54900230]

>>54900224
Eh fucked that up kek

[Anonymous No.54900234]

>>54900227
W2 income was 290k in 2022

[Anonymous No.54900236]

>>54900192
Dumbfuck

Housing Inventory Outlook for May 2023
Low housing inventory has been a challenge since the 2008 housing crash when the construction of new homes plummeted. It still hasn’t fully recovered—and won’t in 2023.

Housing supply holding steady at near historic lows has propped up demand compared to other downturns, consequently sustaining higher home prices.

“Inventory is approximately 46% below the historical average dating back to 1999,” says Jack Macdowell, chief investment officer and co-founder at Palisades Group.

At the current sales pace, unsold inventory is unchanged from March at a 2.6-month supply, according to NAR. Though up from 2.0 months a year ago, supply is low by historical standards, especially in the face of pent-up demand.

With reportedly 85% of homeowners sitting on mortgage rates below 6%, industry experts have a gloomy outlook on when inventory will eventually normalize.

“We think that it is highly unlikely that the inventory problem will be resolved in 2023,” says Macdowell.

Housing Starts Forecast 2023
At the same time, there are positive signals in the homebuilding realm. Single-family construction starts rose for the second consecutive month, increasing 2.7% in March, and applications for building permits increased by 4.1% from the previous month, according to the U.S. Census Bureau and HUD.

The latest builder outlook data reflected optimism as well.

The most recent National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) that tracks builder sentiment ticked up a point, from 44 to 45. This is the fourth month-over-month increase

__________

Why do you think inventory is low? Because houses are being purchased dumb fuck.

[Anonymous No.54900243]

>>54900128
wtf is that real?

[Anonymous No.54900245]

>>54900106
but I've owned several houses, OP
I own one right now.

Just be over the age of 50 and live in Colorado. I bought one house and now have enough money out of that one to buy 10 more somewhere else.

[Anonymous No.54900246]

>>54900129
That's not proof. Just more unsupported assertions.

[Anonymous No.54900247]

>>54900106
I already own my house though

[Anonymous No.54900250]

>>54900106
Why don't people rob open houses if there's hundreds of people there holding cash?

[Anonymous No.54900253]

>>54900246
>t. Dumb fuck

>>54900236
Inventory at record lows. Fucking idiot!

[Anonymous No.54900269]

>>54900246
>That's not proof. Just more unsupported assertions.
people in those markets don't need proof, we already know. We watch how fast houses sell. In my part of colorado they're selling before they can even get listed. One day is the average time listed. It's also about the max time listed.

[Anonymous No.54900287]

>>54900269
Same in Charlotte. Literally same day. Posted in the morning. Gone by mid afternoon.

[Anonymous No.54900309]

>>54900287
Yep, anywhere boomers want to retire or zoomers want to rent. It's going nuts.

[Anonymous No.54900320]

>>54900116
I've seen it with my own eyes. I've been trying to buy. My wife and i have perfect credit and reasonable down payment. 200 people show up for every open house, and 20+ people outbid us. Shitty houses are packed with people on open house for the entire day, and they pick an offer within 48 hours of hitting market every house. People go all cash way over. One guy even demanded in contract that he could keep living in the house for a month after it closed. We spent the last 4 months looking andwe are going to resign lease next month because its not happening.
Midwestern 250k size city.

[Anonymous No.54900328]

>>54900129
>New Jersey. Colorado
You can have it, im good.

[Anonymous No.54900357]

>>54900158
My neighbor is selling house and my daughter has had to park 2 blocks away all weekend, she was pissed.

[Anonymous No.54900375]

>>54900328
>You can have it, im good.
coloradans are getting pretty sick of how crowded the state is now. A lot of us are leaving, and new buyers are offering us million dollar bonuses to gtfo

[Anonymous No.54900383]

>>54900320
let me guess, Madison WI?

[Anonymous No.54900407]

>>54900383
Lol yes

[Anonymous No.54900409]

>>54900128
You don't have 500k. You have fake internet beans valued at 500k that are worth zero. You have negative money.

[Anonymous No.54900417]

>>54900106

>open house

you don't actually have to see the house in person to make an offer

fucking retards

[Anonymous No.54900427]

>>54900417
Congrats. You're part of the problem.

[Anonymous No.54900464]

>>54900409
>Yeah bro crypto is fake money but the fed printing billions of USD is legitimate

[Anonymous No.54900465]

>>54900407
haha that's funny, my sister lives there and is trying to get a place too, says its hell too

[Anonymous No.54900670]

Only poors FUD buying a house right now due to sudden housing price crash.
Next post they claim hyper inflation will ruin the $.
Pottery.

[Anonymous No.54900708]

>>54900199
>muh 6% mortgage
Boo hoo. My first mortgage was 8.625%, and I put down 20%.

[Anonymous No.54900724]

>>54900708
>Boo hoo. My first mortgage was 8.625%, and I put down 20%.
same, but then my house was only $100k so it wasn't bad.

[Anonymous No.54900782]

>>54900464
Yes. Money is real no matter how you want it not to be.
You will not have it but everyone who matters gets just enough

[Anonymous No.54901059]

>>54900407
You're still buying in the second largest city in Wisconsin and a major university town though, is it the same in the markets 20-30 minutes outside Madison?

[Anonymous No.54901288]

>>54900670

There is not housing market crash.

There is no hyperinflation.

2008 will never happen again nor the great depression in 1929. This time its different. This is the new paradigm.

[Anonymous No.54901378]

>>54900245
Go do it then boomer cuck
>you won't
>you can't
>no one will lend you your sweetheart rates anymore
You're priced out too faggot. You won't like kind exchange your way out of this.

[Anonymous No.54901668]

>>54900106
I'll settle for a nice apartment with walls that aren't made of paper, I always have the problem of some idiot complaining about the noise
besides you save a lot of things, I'd rather use my money for things like DEXT, hobbies or even buying junk kek

[Anonymous No.54901864]

>>54901378
>no one will lend you your sweetheart rates anymore
what part of cash don't you understand, kiddo?

[Anonymous No.54902021]

>>54900158
They won't drop the rates.
Illusionary.

[Anonymous No.54902035]

>>54901288
We learned from our mistakes

[Anonymous No.54902058]

Whats going on in the NM market?

[Anonymous No.54902089]

>>54900158
People with good credit scores are now required to pay higher rates to subsidize buyers with low credit scores. This will keep prices high for another 2-3 years at least. After this, they will just use some other trick to keep it going.

[Anonymous No.54902096]

if you spend more than $200,000 on a house, you are retarded. I got mine for $95,000 in 2017. If you pay more than that you are low IQ.

[Anonymous No.54903106]

>>54900158
it is not manufactured. people really are this retarded. if you wait some more you can get a home on a discount.

[Anonymous No.54903116]

>>54901864
What about it you stupid nigger

[Anonymous No.54903140]

>>54900106
Is that a Fed?

[Anonymous No.54903160]

You stupid niggers need to listen to the globalists when they're at their dumb shit meetings rubbing elbows. They literally tell you what they're trying to do. "You will own nothing and be happy". Interest rates will not come down. Owning a home will become harder and harder. Look how impossible it is is Europe and cuckanada. That's going to be the states in 5 years. Buy now or be priced out forever.

[Anonymous No.54903175]

>>54900465
I fucked her recently, good show mate, tell her I loved her enthousiasm.

[Anonymous No.54903174]

>>54903160
And also vote for Trump in 2024. He's the reason there's even discussion about globalists.

[Anonymous No.54903201]

If houses are in demand, shouldn't construction jobs be in demand? If construction materials are in demand, shouldn't companies which deal in raw materials like lumber and nails be booming?

Why is this not the case? Has the system failed?

[Anonymous No.54903238]

>>54903175
enthou

[Anonymous No.54903248]

>>54903201
houses in demand, but nobody building, high rates, high costs. the sqouze not worth the squeezing

[Anonymous No.54903253]

>>54900106
Why would anyone buy a house right now? what are they doing for a living?

Or is this all because people are keeping cash in their pocket and it's finally coming out to buy the top of the housing market.

[Anonymous No.54903263]

>>54903175
Ill tell her for ya when she comes to the open house to 'persuade' me to sell to her

[Anonymous No.54903277]

>>54900250
Those people have already been robbed, of their dreams of settling down and starting a family

[Anonymous No.54903284]

>>54903248
High reward should outweigh the risk, this means the system is failing.

[Anonymous No.54903286]

>>54900106
So many people, but WHOM will be the baggy that gets too carried away with the offers? Let's find out, as we play.... THE CRYSTA..... home ownership bid wars!

[Anonymous No.54903325]

>>54903201
In the UK at least you need planning permission to build anything; including parking a caravan on a field for more than a few months (kind of like the "No motor homes or prebuilts) thing with some US plots.

They can keep the prices high by just refusing more planning applications because there's no point building without one.

[Anonymous No.54903717]

>>54900320
This was me in 2021. Experienced in person a 50+ person line for an ugly, needs-work older house. And then another, and another. Placed over-asking offers and kept getting outbid. Rates were low then. To see this keep up with high rates is beyond demoralizing. And now Biden's extra mortgage penalty for those with a responsible credit score. Our government truly hates us.

[Anonymous No.54903742]

>>54902096
Ok, I work on long island. Please find me a house there that fits the criteria

[Anonymous No.54903754]

>>54900328
People hate on NJ but they have the best suburbs in the US.

[Anonymous No.54903793]

Just buy some land and build your own house on it by hand. Surely you NEETs don't have anything better to do with your time. Problem solved.

[Anonymous No.54903797]

>>54903253
>DUDE I JUST LOVE REAL ESTATE
Most people, including bizfaggots, think a single family home is the end all be all asset.
It doesn't make you any money, it takes an enormous amount of money to acquire for most people, and then it also takes a lot of money to service (debt, maintenance, taxes, etc). All of those factors put you in a very leveraged position both literally and figuratively. For how competitive the market is right now many people are draining their entire life's savings and putting themselves at the very threshold of what they can maintain to pay. All of this comes with the caveat of no financial disruptions in their life. A large unexpected bill, or several, a layoff, inflation creeping up again, they could all throw things completely off course and lead to foreclosure. I wouldn't want to be in a position like that where I'm now essentially a slave to a mortgage just because I was memed into thinking that it's anything other than a place to live.
I'll pass but best of luck to those who bought recently or are currently in the market.

[Anonymous No.54903809]

>>54900106
>They are still paying cash on the same day they tour the house.
no they aren't. they're prospective mortgagecucks lining up for 30 years of debtslavery. they will engage in a bidding war, where they will fight to sacrifice an increasingly large chunk of their post-tax earnings for a plywood box.

[Anonymous No.54903818]

>>54900129
bullshit every house is sitting frozen on the market in NJ.

[Anonymous No.54903821]

>>54900106
Demoralization thread. Enjoy buying at the top of the bubble.

[Anonymous No.54903839]

My mom has been wanting a house and we decided to at least get pre approved right now. Is it just that bad of a time for poorfags? I was hoping we could just get an adjustable rate for when they go down in years

[Anonymous No.54903858]

>>54903797
i want to own a home because i'm tired of my rent going up year after year, and i'm tired of confining myself to 800ish square feet. but you're right, home ownership has the potential to be very expensive, and you're definitely shooting yourself in both feet if you're over-extending yourself on a poorly maintained plywood box (gotta waive those contingencies, goy) by falling victim to normalnigger FOMO bidding wars. better to just wait another year and see if the recession materializes. nigger retards who bought within the last 1-2 years will be the first to lose everything.

[Anonymous No.54903887]

>>54903201
Builders don't want to be holding the bag. They are obviously forecasting things in that the normies aren't (go figure). With the lack of new home starts there is a supply shock. The lack of new inventory are causing people to over bid on what inventory remains.
Eventually whatever the builders are valuing to halt their starts will come to fruition and normies will be holding the bag, per usual.
You can either believe that this time is different and things will continue in up only mode forever, new paradigm, etc or you can believe what I just wrote, which is that this is the final stage of the mania phase where people are over bidding on whatever is left and once the market conditions that are being forecast into the decision to not make more houses materialize that it will all come tumbling down.

[Anonymous No.54903899]

>>54900106
Kitten puddle is the perfect place to get a foot massage

[Anonymous No.54903927]

>>54903887
>NOOO!!!!! I-I DIDN'T OVERPAY BECAUSE... BECAUSE I DIDN'T, OKAY!!!!!!
>I....
>I LOCKED IN MY RENT FOR THE NEXT 30 YEARS!!!!!!

[Anonymous No.54903928]

>>54903201
They’re building them as slow as they possibly fucking can because they know they can just raise the price again when it’s finished .

[Anonymous No.54903933]

>>54900106
My wife and I own town houses actually

[Anonymous No.54903950]

>>54900158
>when all know damn well they gonna drop the rates again.
This cope is hilarious. Why would they drop rates when it's working to slow inflation? This will continue for at least 3 years. Free money is never coming back.

[Anonymous No.54903972]

>>54903818
It's town specific it seems. The area I want to buy in has a house sell in a week

[Anonymous No.54903990]

>>54903116
He's saying he has enough equity from one property to sell it and buy 10 houses cash in other places. You're seething way too hard.

[Anonymous No.54903994]

>>54900250
Cash in a bank account.

[Anonymous No.54903996]

>>54900236
Why are you becoming mentally unraveled so easily over this?

silly billy

[Anonymous No.54904004]

>>54900158
AAHAHAHAAH

[Anonymous No.54904012]

>>54903717
It's only extra if you're at like 750. Still the same low rate if you have 800+.
But the demand is coming from California/New York expats with high equity.

[Anonymous No.54904024]

>>54903174
Vote for Zion. No thanks

[Anonymous No.54904027]

>>54900328
Too many white people for your taste?

[Anonymous No.54904046]

>>54903887
It's not that complicated. Builders build less because it means they get higher margins on the homes that do sell. Artificial scarcity so they never have another 2008 again. It's working, for them at least.

[Anonymous No.54904057]

>>54904027
colorado is 67% white. new jersey is 54% white.
>N-NOT IF YOU COUNT HISPANIC WHITES
>t. alejandro emilio-gonzalez-lopez

[Anonymous No.54904102]

>>54903858
>2025
>Interest rates at 8.5%
>Housing still at high demand because there's an endless supply of California retards capitulating and leaving to what was formerly a cheap state and buying all cash
>Housing prices still won't drop
>In fact they're higher than ever
>Biden introduces a bill called the American housing act, makes building single family homes prohibitively expensive
>Import millions of third worlders every year
>The only thing you can afford is a 750sqft goy pod
Have fun waiting. You'll own nothing and you will be happy.

[Anonymous No.54904118]

My sister and her husband just bought a house.

They only needed to pay 60 grand over asking.

[Anonymous No.54904308]

>>54900158
Look, another one of these fags who think the market is due for a 'crash', a 'correction'. Why do you think that? 'Oh, because it's been high so long that's it's gotta crash!'

Peak delusion. You have no idea. It's a demographics issue and simple Supply and Demand. You will never own a home.

[Anonymous No.54904328]

>>54904102
not going to happen, but let's entertain your schizophrenic fantasies for a minute. i work remotely and my cope will be taking my $120k/year salary back to my flyover hometown and buying a $150k house with a 70-80% down payment.

[Anonymous No.54904347]

I snagged a new build from a builder that was dumping houses in a panic in December. They were originally contracted for $280k, buyers probably had financing issues once it was built and at the same time rates were surging. They listed it for $209k and I snapped it right up.

Didn't know if I was being dumb or not, really happy with it now. A 2k sq foot house for that price in a 97% white area is unheard of.

[Anonymous No.54904354]

>>54900106
And they'll be homeless and living I'm tent cities in 6ish months

[Anonymous No.54904366]

>>54904347
>$140 sq/ft new construction (including the cost of land) marked down to $105/sq ft
are you in rural mississippi or something?

[Anonymous No.54904378]

I own a house.

[Anonymous No.54904383]

>>54904366

It's a suburb right outside of the Dayton OH area. So I'm within comfy driving distance of either Columbus or Dayton. Itt's legitimately a sweet spot and I thought I was getting scammed at the time.

[Anonymous No.54904409]

>>54904012
As I said, the federal government makes it clear a certain class of people is despised. White and middle class. I truly believe there are people who salivate at the thought of our inability to have children anymore.

[Anonymous No.54904410]

>>54904378
I know where you live now lmao nice dox. Maybe I’ll call your county official and ask for your name and number based on address. You literally just doxxed yourself to 4chan faggot

[Anonymous No.54904427]

retards dont realize houses are about to flood the market as for people seem to forget they are easy as shit to build and last I heard there is a caravan of able bodied working men working their way up to the border

[Anonymous No.54904436]

>>54904410

This isn't /b/, and we aren't 15 anymore anon

[Anonymous No.54904483]

>>54901288
This is 1959 where inflation runs 5-9% per year and the price triples after 15 years, but purchase power stays the same. Numbers go up, but a dual income on one year of salary still only afford a house and feed 4

[Anonymous No.54904530]

>>54904410
>implying he didn't inspect element nudge the numbers
at least he should have

[Anonymous No.54904637]

>>54900106
If these people dont scream normie exit liquidity to you then you need to give up finance. Every single person in this pic is someone I want on the other side of my trade.
>>54900236
>Copy paste le journo article
Holy shit these are the retards screaming about muh low supply kek.

[Anonymous No.54904718]

>>54900158
They are buying them now because when the rates drop they won't be able to afford them anymore because they will start going up by between 1 and 2% per MONTH again. You can refi a shitty rate when/if rates come down. You cannot go back in time and re-negotiate the price of a home that has gone up by $100K

[Anonymous No.54904749]

I bought a house back in 2021. In NY we have something called an "Escalation clause" where you can put your highest bid on a house, sort of like ebay sniping browser addons. We put offers anywhere from $5k-$25k over the asking price in our price range ($175-$215k) and even so, people outbid is on the first 3 houses we put offers on. Got the 4th house we put a bid on, and what good timing because our city is booming so my house's value went from $178k to $230k

[Anonymous No.54904788]

>>54900128
>$500k
>a mansion
You couldn't pay me to live in a house worth less than $700k

[Anonymous No.54904842]

>>54903106
Best post. Sums it up.

[Anonymous No.54905111]

>>54904057
So 2x than your state?

[Anonymous No.54905145]

>>54904046
> Builders build less because it means they get higher margins
>yeah bro let’s just build less houses and get paid less! We’ll totally make more money that way! Haha instead of building 3 houses and selling them for 250k each, let’s just build 1 for 500k! Haha 500k is more than 250k obviously! Haha

[Anonymous No.54905291]

>>54904530
He didn’t lol

[Anonymous No.54905304]

you know you can just buy land and then buy house plans and hire some team to just build it for you? It doesnt even cost that much more

[Anonymous No.54905446]

>>54905145
The other anon is right. As is >>54900158
They're doing the same thing in the rental market. Instead of renting out units, they just leave them empty and jack up the rents on existing units. Algorithims help determine how much they can squeeze.

They'll sell their existing supply 1 by 1 instead of all at once to create fake demand. Check how many houses are for sale in your neighborhood; it's always the same number of houses to keep demand stable. Real estate has been comped

[Anonymous No.54905467]

>>54905145
/biz/ absolutely understands nothing even about the shitcoins they hold

[Anonymous No.54905478]

>>54905446
>all homeowners are engaged in a hivemind conspiracy to pump and dump homes
No they're not, you're just poor.

[Anonymous No.54905479]

>>54904347
Congrats. Sounds like a steal for a new construction.

[Anonymous No.54905527]

>>54904308
Don't listent to this faggot. Here is what is happening:

tep 1: Property tax hikes are being handed out right now and the number is up deep double digits.

Step 2: Rental income will begin to decline - the vacation rental items outside of snow cabins are usually "printing in the summer” and once those numbers crack it’ll get ugly.

Step 3: insurance costs are going up and those bills are being sent out now.

Step 4: unemployment numbers pick up Q3/Q4 which causes both short term rental and long-term rental demand to decline and

Step 5: People hoping for a turnaround begin to feel the pain as negative news headlines pick up. They likely pick up because June was the peak for home prices so the y/y decline numbers will likely accelerate.

By all means buy now faggot. Dave Ramsay told you so!!! Housing never goes down breh!!!!

Wait until end 2024 before you buy. Housing will be down at least 20% with the exception of DC / NY / Boston metro areas which are recession proof due to people being forced back to the office.

[Anonymous No.54905541]

>>54905111
my state (pennsylvania) is 75% white.

[Anonymous No.54905565]

>>54904383
I worked in Columbus for 8 months a few years back. Made great money, but couldn't really see the appeal of the place. Half the people I trained were trainwrecks (union construction $50+ hour work) with drug histories / broken families. Most of the women were fat / heavily tattooed.

I honestly went out every weekend and could only pull out of towner college girls from Ohio State because I was fit / highly paid.

I was offered a full time job + pay raise but I moved back to Chicago. And yes I know taxes are high here and the nigger ratio is high, but the people in the west suburbs are just better people.

I know this is anecdotal, but I still have the offer to go back there. Where in Columbus / Dayton do you recommend to spend time with 97% normal white people? I tried breh. I tried real hard to like the area....

[Anonymous No.54905592]

>>54905565
>drug histories / broken families
>Most of the women were fat / heavily tattooed.

many such cases in small town america. i want to move back to my hometown to help my parents in their old age, but it's an absolute fucking wasteland. i'm in my mid 30s. of the portion of my ~120 student graduating class that stayed put and didn't move away, a huge chunk of them developed drug and alcohol addictions.

[Anonymous No.54905615]

>>54903201
Because building the entire thing from scratch is not the trend now.
You just remodel or construct a section.
No need for all that demand,

[Anonymous No.54905619]

>>54905541
>the trash state
lol, now I know why you lashed out.

[Anonymous No.54905648]

>>54904410
so? you’re the fagget, fagget

[Anonymous No.54905649]

>>54905619
>muh heckin state rivalries
>muh heckin white percentage
where you personally live is irrelevant because you spend all of your time indoors, doomscrolling /pol/ as your skin gets browner by the day.

[Anonymous No.54905883]

>>54900106
i own a house you blackpilling faggot

[Anonymous No.54906089]

>>54904328
You understand that the California cuck influx is turning what used to be flyover country into unaffordable "quaint" towns right?
Have fun crying about a run down shed in Nebraska costing 500k .

[Anonymous No.54906103]

>>54906089
>MUH HECKIN BLACKROCK
>MUH HECKIN GEORGE SOROS
>MUH HECKIN BILL GATES
>MUH HECKIN BIDEN
>MUH HECKIN CALIFORNIANS
not a single person from california has ever moved to my hometown. take your meds, the boogeymen aren't real.

[Anonymous No.54906107]

>>54905478
They assumes that all sellers are retail and not huge holding firms like black rock that spent the last 3 years buying up all of the residential real estate. The cope will be insane.

[Anonymous No.54906114]

>>54904409
If you have a score lower than 800 you're not white.

[Anonymous No.54906126]

>>54906103
What is your home town so I can help you raise your property value?

[Anonymous No.54906161]

>>54906114
Unironically my score FUCK

[Anonymous No.54906184]

>>54906126
by the end of your first night in town, i'll have abducted you at gunpoint, dismembered your corpse DEEP in the woods, and burned and scattered your remains such that no one, not even wild animals, will ever find you.

[Anonymous No.54906197]

>>54906161
Sorry for your loss

[Anonymous No.54906201]

>>54906184
Sounds fun. What town is it?

[Anonymous No.54906230]

Why does my fico score fluxulate between different vendors

transunion mint one says im 783
discover fico says im 820

[Anonymous No.54906248]

>>54906230
there's only one FICO score. transunion and equifax are competitors. fwiw i notice the same thing, 830 FICO vs 770ish equifax/transunion. most lenders use FICO.

[Anonymous No.54906257]

>>54905304

That's ultimately my goal. Buy some nice acreage in the south, either in the Appalachians or on the coast. Build the house I want. It's well attainable.

[Anonymous No.54906322]

>>54900106
Why do people subject themselves to this? Why do you HAVE to indebt yourself to a mcmansion 20 minutes outside of your local urban hellscape? There are so many options in this world. There are so many pathways. Like what is the point of all this?

[Anonymous No.54906329]

>>54905565

It doesn't sound like you actually lived in Columbus then lmfao. It sounds like you're referring to small towners out in like Marysville or Marion or Zanesville. These are the only recurring classes of Columbusites:

>your typical ghetto hoodrat nig in Linden/Whitehall/Reynoldsburg
>ghetto hoodrat white trash around Hilltop/Franklinton
>college students galore all over the downtown radius
>rich people in UA
>upper middle class hipsters in Grandview
>rich Jews in Bexley
>normal working/middle class mainly white people in Hilliard/Westerville/Gahanna
>hipsters as far as the eye can see in Clintonville
>rich gays all over Short North/Victorian Village

Where on Earth are you getting "small town working class man alcoholic" from in this equation amigo? That's more the kind of person near where I am now. I don't think Columbus is particularly special, but the average woman there is hotter than 80% of the country as it's heavily skewed by college students and young professionals. I went to California expecting to be blown away and it was demonstrably worse all over the place. Fat ugly beaner muttos everywhere. I missed Columbus.

[Anonymous No.54906347]

>>54905304
Only issue is that construction loans are variable on completion date. So whatever the rate is once construction is complete will be your mortgage. Could be good, you could get absolutely fucked. If you've got cash then yeah building is for sure the way to go. Otherwise it might be less stress to just buy an existing house or one of those neighborhood with homes to be built that you can customize.

[Anonymous No.54906349]

>>54903742
Long island is a hell hole. Why would you stay there?

>t. Grew up in West Babylon

[Anonymous No.54906396]

>>54906322

Like 95% of people are entirely unimaginative. Even the smart ones. Their "ideas" are regurgitations of the current trend, they live their life cautiously on the rails and have low ambitions. I don't mean it in a fedora tipping way it's just the way it is, the human genome doesn't express many individuals with truly against the current thinking.

Once you start to do it though it does feel like breaking the Matrix, and then you realize how all of these fairly rich people are doing it.

[Anonymous No.54906419]

>>54906396

And I mean it makes sense. Humanity needs a mass of "doers" and a minority of "ideas guys". If everyone was unique and against the grain our society would be chaos.

[Anonymous No.54906456]

>>54903818
It's a nightmare. New Jersey is a future California waiting to happen. I'm 30 and stranded at my mom's house because everything around the area has appreciated like 5x.

[Anonymous No.54906502]

>>54906322
most people need to work for a living, in order to buy a house. most people cannot work remotely. buying a cheap house in a small town means taking a local job that pays shit wages, if there's even jobs in your line of work. also moving rural means abandoning your friends and family.

[Anonymous No.54906536]

>>54906502

A lot of people though don't realize the "drop" in wages from say Boston to Cincinnati isn't that major. And then you get access to all of these much more affordable suburbs, while still having plenty of job opportunity.

You have to look at the whole country, analyze CoL vs. median wage in your industry. The dropoff isn't that severe for a lot of mid majors.

[Anonymous No.54906551]

>>54900116
I got a cash offer on my house about two days after they looked at it

[Anonymous No.54906882]

>>54906322
You think it's a mcmansion? It's probably just a regular single family home.
And why wouldn't you when you're trying to escape the continual hell that is rent increases?
When I graduated college in 2012, the rent in my first apartment was $1200 for a 2 bed 2 bath on the nice side of town with a decent commute to my office.
That same place now starts at $2200 a month on a 12 month lease.
I bought a home last year. The cost of my mortgage is what it will be until I pay it off. The cost of my mortgage is a full $1000 less than anything I could possibly rent in this area. In the time between when I bought the place and now I'm already up 10% with about 130k in equity that I could cash out but I'm never going to sell the place. It's an asset in a high net worth part of town that I can easily rent out at the market rate and draw $1000 in passive a month.
People are lining up to buy because the globalists keep going on television and telling you that you'll own nothing and be happy.

[Anonymous No.54907116]

lmao the one woman angrily staring at her boyfriend/husband for not getting there earlier

[Anonymous No.54907161]

>>54904027
>New Jersey
>Too many white people for your taste?
nigger what?

[Anonymous No.54907177]

>>54906197
>updated a month ago
what is he hiding..

[Anonymous No.54907370]

>>54900236
House prices are not going down niggaheads. It's a new paradigm ever since covid. Prices are only going up. Seething rentoids in this thread. Enjoy renting a dumpster or a tent because that's what you're going to be living in. Pieces of shit.

[Anonymous No.54907457]

>>54905527
Nope, what aren't you getting about the simple equation of supply and demand? In areas where anyone wants to live, meaning low minorities, close to major hubs, good economic opportunity, SFH's are going in 1 - 3 days tops, with 10+ competitive offers, meaning little to no contingencies (they have cash). Record low supply, record high demand, it's actually that simple.

Boomers have not died off, millions of Millenials and Gen Z people are looking to purchase homes. We're flooded with an unknown massive number of immigrants year after year. People who bought in 10-year golden bull run with low interest rates have no incentive to take on a higher rate mortgage and get in a bidding war.

There is no black swan economic crisis coming. We are in slow bleed out mode, the crumbling of a great nation. Homes are generational assets now, one of the only real assets left in a swamp of hyperinflated USD garbage. Who cares about a 5-10% increase in property tax or home insurance, do you think that's enough to put people out on the streets? Stop being retarded.

[Anonymous No.54907460]

>>54907370
>house poor retard tricking himself into feeling superior
good afternoon nigger retard with >90% of his net worth tied up in a plywood box "purchased" less than 24 months ago on a 97% LTV 30 year welfare layaway plan that consumes >50% of his post-tax monthly income.

[Anonymous No.54907782]

>>54900236
found your kike propaganda source article for this

[Anonymous No.54907843]

>>54900106
>Looking to find some shit shack and finally live on my own
>Some manufactured homes have really nice interiors and are dirt cheap monthly
>Lenders don’t want to give mortgages to properties on leased land
>Every mobile home I look for is on leased land

What the fuck am I supposed to do? Don’t tout these lesser homes as affordable options if you’re going to gate keep people with bullshit like leased land. I’m looking at these cause they’re supposed to be cheap as shit, not because I have an additional $6k to blow on land and development. Fuck you.

[Anonymous No.54907865]

>>54907843
Work harder. Give the man at the bank a firm handshake and show him the color of your character. Really simple stuff.

[Anonymous No.54907882]

>>54907865
All he could do was reject my application. Banks are cucks

[Anonymous No.54907883]

Genuinely don't understand who are buying these $500k homes in my city at 6% interest, and then having to send their kids to $10-15k/yr private schools because the public schools are full of blacks that hunt whites for sport.

[Anonymous No.54907922]

>>54905565
Anyone who is above-average IQ in the Midwest heads to Chicago for work, or they leave the Midwest completely.

[Anonymous No.54907970]

>>54900158
The home prices may drop ASAP, but the mortgage rates are staying where they are. You're better off buying a flat piece of land and parking a cheap RV on it while you build your own house now.

[Anonymous No.54907983]

>>54903797
What are people supposed to do? They see their rent go from $800 to $1000 to $1200 a month for what’s basically a drywall cage and ask themselves why they continue with their apartment when they see the monthly mortgage cost for something slightly bigger at a fraction of the monthly cost. It’s easy to fall victim to making yourself a mortgage solace when being a rentoid is so fucking financially draining in arguably worse ways. But you’re not allowed to own anything you stupid Goy, want cheaper rent? Get some schizo roommate who skins cats on Tuesdays or invites gay niggers in every other night to give everyone aids. You want lower rent right? Just share your home with another dumb genti-I mean cost conscious individual!

[Anonymous No.54907999]

>>54907460
The 2020s are going to be so fucking comfy reading post after post of losers who missed out on locking in a low rate.

[Anonymous No.54908017]

>>54907999
congratulations on hitting the "in the right place at the right time" lottery. people who could have bought 3 years ago did buy 3 years ago. many people couldn't buy 3 years ago for various reasons e.g. still being in school/training, still working entry level jobs, not having sufficient credit history, etc.

[Anonymous No.54908020]

>>54907922
I guess the niggers, heartbeat bill, and anti-trans laws broke the foreigners in GA. We got plenty of work to do down here.

[Anonymous No.54908066]

the goal of "tour houses" is to give FOMO to buyers

whenever someone offer me a group visit i say fuck off

[Anonymous No.54908118]

>>54908020
Nah. Your state is fucked. Since this post in 2019 you've lost an additional 56k white kids and gained 24k spics and 12k mutts.

[Anonymous No.54908191]

>>54907922

Nonsense lol. Chicago wages are hardly better than your Columbus/Cincy/Indianapolis/Milwaukee's. Then you get gridlock traffic and constant jogger riot hell on top of that. No thanks. Life is so much comfier away from megacities.

[Anonymous No.54908226]

>>54908118
>both old data sets
Ah. Now I see it. Yeah, it was messed up back then. But that was within the Atlanta metro area. The entire area fell apart after the DAs got soft on crime.
But where's the new shit?

[Anonymous No.54908244]

>>54908226
*mostly within

[Anonymous No.54908256]

>>54908226
100k white kids lost in 8 years.

[Anonymous No.54908306]

>>54900200
Why wouldn't they drop rates?

[Anonymous No.54908370]

>>54908256
The spics definitely pushed them out

[Anonymous No.54908398]

>>54908017
And those people are in this thread now coping because they're too young to understand that 2008 was a once in a century event that they'll never see again. That housing supply is this low exactly because builders don't want another 2008. You missed the boat forever.

[Anonymous No.54908409]

>>54900106
housing is such a joke. it's just a rotting old box cramed right in between some other rotting old boxes with other obnoxious suburbanites living in them.

[Anonymous No.54908417]

>>54900708
Houses back then cost less than a car today

[Anonymous No.54908501]

>>54908398
>You missed the boat forever.
see >>54904328. also you're using the same language that third world brownoids use to shill their shitcoins before they dump -99.999%.

[Anonymous No.54908513]

>>54908370
Just wait till 50 million or whatever the hell come storming over after Biden's stupid law passes.
Republicans will never win again with that many new democrat voters who just crossed the border.
>Driver licenses and proof of citizenship are racist goy!!!!!!
I'm unironically moving to Japan next year. 120k saved up and /fit/, just wish I was a little younger.

[Anonymous No.54908550]

>>54908398
I love it. Losers are getting left behind. And they're blaming everyone but themselves.

[Anonymous No.54908582]

>>54908550
This gets me SO FUCKING HARD. There are no limits to the brown tide Biden can let flow into the country like a wave of shit pumping house and rent prices forever.

[Anonymous No.54908585]

>>54900158
>>54900106

Literally have been trying to buy a house for the past 6 months and every house I put an offer for has been blown the fuck out by someone putting an insane offer above asking price, pic related. The sellers get tons of offers the day after an open house and they get into escrow within a few days so houses don't even last a week on the market.

My budget is 870k cash and I can't even go for homes that are listed in the low 800s because they usually offers above my budget. The only houses that stay on the market for longer are the really shit ones and they aren't worth buying.

[Anonymous No.54908608]

>>54900106
i'm closing on a house now at a 10% discount from what it was listed at earlier this year

[Anonymous No.54908832]

>>54900106
that's fine. I signed a 3y rent contract for a nice 1 bedroom with included gym and pool, will live in it with my girlfriend, I will take on 65% of the rent and be able to save more.

[Anonymous No.54908905]

>they are now talking about 0% down mortgages in the UK
Grim.

[Anonymous No.54908912]

>>54908585
That's got to be annoying considering the house with the pool on the street sold last year for 760k, and this one was smaller, more dated, and rates are much higher restricting the purchasing pool.

But real estate is all about buying what others can't build. There is no more flat land in LA to expand to. Not only was this 0.4 acres on flat land, but it's perfectly set up for a guest/2nd house behind it. The entire neighborhood is ranches and mature trees/shrubs, and they don't allow any overnight street parking.

[Anonymous No.54909006]

TO THE MOOOOOON !!!!
1M EOY

[Anonymous No.54909021]

>>54908912
>Vincennes street
disgusting mutts, Vincennes is a respectable town in France
get that word out of your cuck nation who elect niggers and jews to rule over you

[Anonymous No.54909062]

>>54907983
just get a good paying job and a girlfriend to split the rent

[Anonymous No.54909100]

>>54909062
TO THE MOOOOOOOOOOON
EVERYONE AND THEIR GRANDMOTHERS ARE BUYING IT MEANS ITS NOT A BUBBLE

[Anonymous No.54909152]

>>54903201
It was shit the last three months but construction is starting to pick up fast this month.

[Anonymous No.54909206]

>>54904118
not everyone have the privilege to buy the top

[Anonymous No.54909211]

>>54904788
>He's low iq

[Anonymous No.54909225]

>>54908912
Yeah I feel like shit looking at houses that sold last year I could have bought. Now I have to downsize and look at other areas in the valley. My only cope is at least whatever i'm buying now is gonna be worth close to double in the next 10 years.

[Anonymous No.54909260]

>>54904749
try to sell it for 230K lol

[Anonymous No.54909276]

>**Lease today and receive up to six weeks free rent**

>RENT PRICES DROPPED! ALSO, GET 1-1/2 MONTHS OFF YOUR RENT! ON ALL APARTMENTS! APPLY TODAY!

>Do you work as a Public School Teacher, as a First Responders, are you Active Military, an MGM National Casino or Hospital Employee? If so, take an EXTRA $1,000 OFF!

Everything else aside, why does it seem like every apartment is like "1600 a month rent 19,200 for the whole year BUT take off a month so it's actually 17,600 for the whole year!"

I'm noticing the 'actual' rent should be about 200 bucks less, but these bloodsuckingboomers refuse to lower it without a fight.

[Anonymous No.54909358]

>>54900106
Why are people rushing to buy a shitbox in an area that will be flooded with immigrants. Amerinigs are the biggest cucks

[Anonymous No.54909427]

>>54909276
Ahem.
Allow me to introduce the Payment Schedules, Mr Fortnightly and Mrs.... Monthly

[Anonymous No.54909518]

>>54908513
Good republicans deserve to lose, if they refuse to fight, they deserve to die

[Anonymous No.54909586]

>>54903887
You're delusional. The best way to milk a goyim is a condominium now. That's all they build.

[Anonymous No.54909617]

>>54904347
>Absolute bottom scrap of the barrel materials and furnitures installed quickly.

Yeah bro good catch.

[Anonymous No.54909637]

>>54904427
It isn't the 1800's anymore nigger.
Cheap labor aren't allowed to build anything, all they can do is work Tim Hortons and (((Study))) so they have the official paper to use a fucking hammer.

[Anonymous No.54909666]

>>54905527
Canada received 1% of its total population in immigration alone in 2022. You don't understand supply/demand at all.

[Anonymous No.54909718]

>>54909276
>I'm noticing the 'actual' rent should be about 200 bucks less
I know someone that borrowed against their first house to buy a second house. But the stipulation was that the original is rented out and that the rent covers their mortgage payment and then some. This is usually not a problem, until rents start falling in the area. Those boomers you speak of are probably paying the first month rent out of pocket to keep the bank happy because the house has a lean with the expectation it will generate positive income.

This is also commonly where all these "cash" buyers are coming from. They're doing cash out refinancing or pulling from other assets. They would be dumb to use real hard cash they saved to buy a property.

TLDR; the bank always wins.

[Anonymous No.54909774]

>>54909718
>boomers ruin the market for everyone
Yes.

[Anonymous No.54909787]

>>54909666
Canada also lost .5% of its population in emigration because pajeets hate the weather and the wages are shit.

[Anonymous No.54909803]

I think housing prices in relation to greed are at an all time high. Shit’s about to dump.

[Anonymous No.54909953]

>>54909803
Maybe. Maybe not. I do find it interesting that rents are dropping in a lot of areas. It says people are holding on to homes instead of selling them. The number of people buying second investment homes was higher than ever over the past few years.

[Anonymous No.54910000]

i'm seriously considering going to trade school just so i can build bigger part of it myself. I have this 40 hours every week i spend on working for others, paying taxes, and the gov still taxes everything again trough inflation.

buy land, do it yourself. Makes sense. I can't do all parts but i definitely can do masonry and several others.

[Anonymous No.54910473]

>>54900158
what the fuck is the problem with 6%, inflation is higher than that. Your home is still appreciating even at that percent. The truly intellectuals left this place years ago, now its just your every day run of the mill midwit

[Anonymous No.54910662]

>>54904102
if peasants from south america can outbid you then, you dont deserve a house. poorfag

[Anonymous No.54910691]

>>54908501
90% of millennials and zoomers aren't that anon that will move to flyover country. They'll suffer in the cities forever. 2008 isn't happening again. You can cope by moving to meth country but you don't buy a home at a low price and good rate ever.

[Anonymous No.54910692]

>>54900158
>1PBTID
best b8 on /g/

[Anonymous No.54910729]

>>54910662
The south American immigrants aren't buying the houses retard
>Import millions of immigrants
>Those immigrants buy up all of the cheap apartments
>Make what units remain totally unattractive unless you want to live in little Mexico
>Regular Americans forced into ever more expensive units
>People already at the peak of their budget start to capitulate and buy homes to escape higher rents
>Repeat
I'm not worried. I own two homes actually.

[Anonymous No.54910820]

>>54903201
>Build 50 houses
>Earn 5 million
>Build 20 houses
>Earn 5 million

These 4 lines explain our current economy
Don't reply if you're to stupid to understand it

[Anonymous No.54910834]

>>54910820
But then I would be denying you a (You).

[Anonymous No.54910839]

>>54903140
Every in shape well groomed white male is a fed

[Anonymous No.54910846]

>>54910820
isnt house building limited by, zoning laws? isnt there only so many places to build houses? Since land is a finite resouce, doesnt housing price have to go up perpetually?

[Anonymous No.54910858]

>>54910691
When did this board get infected with more ameriniggers? When amerigolems got fucked by covid and tyrone burning down their cities? Everyone in the world is laughing at your country collapsing. I'm sure tyrone and ranjeesh are going to take your homes from you

[Anonymous No.54910862]

>>54910820
Correct until someone is building 40 houses in your second scenario

[Anonymous No.54910979]

>>54910858
What country are you from?
Oh let me guess. You're too ashamed to even say. Suck my ass, thirdie.

[Anonymous No.54910990]

>>54910846
It's called opportunity cost, there is a mathematical limit to the amount of houses that can be build
There are only a limited amount of builders who are able to complete x amount of new projects
Demand can't magically be met by non-existant construction companies
No matter how profitable construction is, demand and supply will not met untill these factors are solved (aka more construction workers)

Because your performance in the market isn't because of supply/demand but about controlling these factors you run into basic game theory which dictates that you should eliminate losing scenarios rather than amplify your winnings
To simplify it: it doesn't matter if you win with a royal flush or with a pair of 3's

>>54910862
I told you to not reply with your dumbfuck econ 101 retardation

[Anonymous No.54910991]

>>54907983
Maybe I lack perspective because my rent has barely moved in 6 years.
The difference however is that my cost to live didn't come with a $100k price tag in the form of a down payment or a 30 year term.
At least with renting you maintain agility whereas unless you're really ready to hunker down and weather potential storms then owning is just a big liability.

[Anonymous No.54910993]

>>54910846
We can build vertically. The laws aren't the issue. It's artificial supply restriction. The housing industry could successfully lobby for more favorable zoning but they don't want it.

[Anonymous No.54911006]

>>54909586
Wait til your learn about CondExs

[Anonymous No.54911023]

>>54910990
High profitability draws in new work and new companies. NEXT

[Anonymous No.54911111]

Don't buy a house, buy acres someplace where no one can be bothered to care what you do there and build yourself a shelter.

[Anonymous No.54911268]

>>54900106
This is an old photo with the year changed.

[Anonymous No.54911295]

>>54900170
>5.9%

Holy fuck

[Anonymous No.54911308]

>>54911111
best digits i witnessed today

[Anonymous No.54913283]

>>54900170
This reminds me of a story about a dude whose porn addiction leads him to hire a "trap" escort, by which I mean a man, a transexual man with balls. Anyway, long story short, the tranny ends up taking charge of the situation, and our hero gets fucked in the ass. Then he came online and shared the story because he was suicidal about the entire thing. We did not help.

5.9% Jesus Christ dude. I'm paying 2.745%. Let's run some numbers. If I had a One Million Dollar house, my monthly mortgage would be less than your mortgage if you bought a 500k house. Defense against the jewish arts should be a required course, not a fucking elective.

[Anonymous No.54913715]

>>54913283
It the tricks stopped liquidity would dry up. There is no easy way out of the corner we've been painted into.

[Anonymous No.54913869]

>>54913283
5.9% isn't even high. And you get to write off your mortgage interest on your taxes. Treasury bills are paying 5% so why tie up cash in real estate when the returns are just as good elsewhere?

[Anonymous No.54913915]

>>54911006
Kek...pay with crypto to buy a house and imagine getting 1.5% on the whole transaction. I think this is the best way to go

[Anonymous No.54914141]

>>54913915
Just don't BS old fag. Be real who accepts crypto for selling houses? Fuck off imbecile

[Anonymous No.54914172]

Does anybody have the link to the real estate forum from 2007 full of retarded real estate 'investors' screaming that a crash is impossible? It makes me kek every time

[Anonymous No.54914190]

>>54905649
His skin would get lighter staying indoors though

[Anonymous No.54914267]

>>54913869
It's high when housing prices have been shooting up at an unprecedented rate since 2019

[Anonymous No.54914557]

>>54908582
>>54908550
hope your jobs and finances are rock solid with this hubris because we're entering the stagflation version of 2008 and there's no Fed ZIRP and QE coming to the rescue this time around

[Anonymous No.54914588]

[Anonymous No.54914604]

>>54904308
Two words, Black swan.

Commercial real estate is going to be repurposed for residential because nobody wants commercial from large city to tint towns, store fronts are going away.

[Anonymous No.54914610]

>>54904102
This is a home owner going through the five stages.

[Anonymous No.54914615]

>>54914172
Here you go. Starts in 2006, through the crash in 08 and after.
https://appraisersforum.com/forums/threads/housing-bubble-bursting.103686/page-4
Apparently one user named Brad killed himself:
https://appraisersforum.com/forums/threads/brad-ellis.198602/page-3

[Anonymous No.54915092]

>>54903797
You need the roof over your head one way or another. Either you pay your landlords mortgage or you pay yours.

Its inelastic in economic terms. If you still don't get it - you are getting fucked one way or another. Having your own home is such a crucial thing in life even if it's on mortgage.

[Anonymous No.54915254]

>>54915092
>you're just paying someone else's mortgage
Ok, and? That is boomer tier rationale for buying a place. You have to consider opportunity cost. We are on an investing board after all.
At the end of the day it's all relative. If $100k down is like 10% of your liquid net worth and you're comfortable making the payments without feeling like your nuts are in a vice then by all means go for it. I am not anti-real estate or anti-primary residence ownership but I am definitely anti those things when they put a person in a compromised position and/or get them fukt on opportunity cost.
Owning a home is a luxury not a right and I would strongly encourage people to put their FOMO aside, take a rational approach, and deploy their capital in appropriate ways depending on what their financial situation is.
It's just really hard for me to justify removing 6 figures of cash and then 2x'ing my monthly nut just to have the same 4 walls and roof that I already have now when 10x'ing in crypto is still a common occurrence.

[Anonymous No.54915264]

>>54913869
My brother in Sneed it isn't the rate nearly as much as how much borrowing the rate is being applied to which in this case is a fucking lot.

[Anonymous No.54915288]

>>54915254
ask yourself why do every retard on this board decided to become a home "owner" between 2018 and 2022

the same retards who bought Bitcoin at 50K-60K

real estate just take more time to correct

[Anonymous No.54915298]

is 5.5% mortgage interest rate okay to get? i cant stand living with my parents and mid 30s. have 80k for down payment and

[Anonymous No.54915303]

>>54915298
you had 10 years to buy and you want to buy now?

fucking loser

[Anonymous No.54915304]

>>54915288

[Anonymous No.54915328]

>>54915304
Based boomer

[Anonymous No.54915338]

>>54900106
You will always own a house.
They are still not paying cash on the same day they tour the house.
>>54900129
New Jersey. Colorado is not the same way. Look at zillow. Only the absolute best homes are increasing in price.
>>54900170
Guy I work with literally just failed to close on a 430k house at 5.9%. Avoid some cool houses on zillow. They will be available by the end of the week. Do some research city slicker.
>>54900236
Dumbgenius.

[Anonymous No.54915352]

>>54904410
I always figured if I was doxxed you would know the life of a very boring npc so who fucking cares

[Anonymous No.54915425]

>>54908398
>this time it's different

[Anonymous No.54915506]

>>54900106
Why would you go to an open house lmfao if you want it just buy it

[Anonymous No.54915680]

>>54909787
>Source trust me bro

[Anonymous No.54915740]

>>54914141
There are giants like Arms & McGregor, Your Place, Foretera and other real estate merchants accepts crypto as payments.

[Anonymous No.54915817]

>>54915298
Historically it's not an awful rate. Coupled with current prices you're paying more than ever before. That said, the older you are the more worth it these higher prices become for someone in your circumstances. To seek independence will help you become a man.

>>54915303
What do you gain from putting others down? Very jewish.

[Anonymous No.54915929]

>>54915740
Anon the adoption is just getting better day by day. I think this is a wise idea to purchase properties with crypto.

[Anonymous No.54916000]

>>54908550
that's mostly due to inflation and value of dollar plummeting.
means jack shit about home "value"

[Anonymous No.54916040]

>my rent is $1000/month for a tolerable apartment in the Midwest
>New houses near me start at $600k
Kek I think I'll just keep renting and gambling on internet coins, thanks.

[Anonymous No.54916052]

>>54910858
Probably in 2003 when an american made 4chan in the first place, which is why this website speaks english you absolute retarded newfag.

[Anonymous No.54916179]

>>54916040
>Rentoid life

[Anonymous No.54916629]

>>54900236
look at this worry right here

its crashing

[Anonymous No.54916806]

>>54915254
Real estate is the only thing that a bank would give me 10x leverage to buy at a 3% interest rate.

[Anonymous No.54916848]

>>54915425
>This time it's different
2008 was the different time. This time it's the same as it's always been. Keep waiting though.

[Anonymous No.54916907]

>>54916629
Rent is due goyim

[Anonymous No.54916973]

>>54916907
interests are due goy

[Anonymous No.54917284]

>>54900320
i went over 20k for the house i bought this year

[Anonymous No.54917621]

>>54903201
Building is still happening, but builders are not really buying any new land because they don't want to leverage against inflated land costs they they themselves fostered. The land they buy is usually from the heirs of farmers who are trying to get the most money out of their inheritance (the farmers were never going to sell and still won't). Builders are building on what they have.
We financed a new house middle of last year in phase 2 zone put of a 3 phase development, and see the new plots coming in as we speak in the third and final phase. The lots are smaller, and the sales rep when we closed told us "the next inventory is going to be smaller and cost more" as if to reassure us of our purchase. The number of homes in our neighborhood is going to more than double. It's like half white here, but almost no renters, so everyone seems to have a stake in the neighborhood so the criminals wouldn't be our neighbors, but people closer to the city. Get some object recognizing NVR that alarms you if someone is lurking around your house at odd hours and get a firearm and a big dog while dashing your hopes of a quaint peaceful town living because this is america.
You can pay points (origination fees) and whatever is left toward your downpayment and reduce our interest rate with a 3-4 year break-even point on the interest saved, but you need to live in the house for at least that long.
fed rates cannot come down until the debt running around the economy comes out of the system, since the fed has to act on ever grimming BLS reports that show people are getting paid more and doing less. If you want to buy into the scam that is residential real estate, because it's slightly less bad than the scam that is renting (I made this is choice for my house), you may as well do so sooner and take the haircut while there's still builder land. Or organize a generation-wide rent and labor strike. Did I say that out loud? I meant "retire young because you cannot retire old"

[Anonymous No.54917722]

>>54917621
>since the fed has to act on ever grimming BLS reports that show people are getting paid more and doing less.
Powell specifically said this was not the case. People cannot afford shit, wages are still too low. The only way the economy works out is if people actually get paid enough to save and invest, otherwise things get worse.

[Anonymous No.54917747]

>>54917621
Jesus I sound like a leftist now. Ran out of characters. The principle of my last quip is that the geisers are using your labor against you. It is unconstitutional since 1866 to force you to work, so if you decline to contribute your labor, you legally can and the whole scam falls apart. If your hands cannot be idle, consider volunteering instead.
I'll make one additional remark about home buying. We were trying to bring our own lender to the table when the builder is vertically integrated (construction, seller, and lender), but the builder offered a 4 figure closing cost incentive to use their internal lender. We ended up going with the builder's lender for that reason because we needed that 4 figure savings to help out a distressed relative. But I am so grateful even after the close, because the third party lender with brought in then cast away would have sold out mortgage in a security to a federally backed program (he told us this up front), and after that point Biden would be retroactively penalizing us for good credit here in a few months. But in going with the builder, our mortgage was instead sold to a private loan servicer that is not federally backed, so we won't see a 1.5% rate hike just because we're financially responsible

[Anonymous No.54917895]

>>54917722
>Unit labor costs in the nonfarm business sector increased 6.3 percent in the first quarter of 2023, reflecting a 3.4-percent increase in hourly compensation and a 2.7-percent decrease in productivity. Unit labor costs increased 5.8 percent over the last four quarters. (See chart 2 and tables A1 and 2.)
https://www.bls.gov/news.release/pdf/prod2.pdf
Since the debt (dollars) injected into the economy comes from federal spending, every dollar of deficit the federal government emits into the economy via its budget/appropriations/omnibus/whatever makes this situation worse and it is a trend now after decades of QE. We are witnessing the fruits of the quantitative easing tree. If the fed wants to destroy the dollar altogether the quickest way to do it is to lower interest rates again.

[Anonymous No.54918153]

>>54910820
Building more houses should mean less volatility though.

[Anonymous No.54918171]

>>54918153
No. It's more. That's more houses that could potentially not sell. Demand is never zero so if you control supply it's best to keep that supply well under demand so that the worst case is a crab market.

[Anonymous No.54918197]

>>54916848
Anon, I don't give a shit about buying a house. I would rather buy crypto and swing trade my account over buying a place to live just for myself.
I need a relatively inexpensive place to live, I am meeting that objective where I currently am. I have no pressing reason to FOMO into the market.
This entire thread and many others like it I've been saying the same thing which is that it's all based on the numbers. No one ever offers an objective counter argument it's always some emotional reaction to justify their own decision.
I do not care if you bought a house or not. I don't like the way this market looks and for me to buy one it would have to be a good deal which it's currently not. it's really that simple.

[Anonymous No.54918269]

>>54918197
If you want an inexpensive place for yourself then you should buy an inexpensive home somewhere less popular with a decent Internet connection. How much money do you throw into a hole on rent paying SOMEONE ELSE'S MORTGAGE? That's money that could be spent on your own mortgage that would eventually lead to cost free lodging that will eventually lead to more money you could be putting into crypto.
I don't care either way. I got mine. Live your life. Just know that 10 years ago when I first rented, the cost was less than half what it is today. That trend doesn't seem like it's slowing down. I pray you never have to move apartments and that the rent increases are kind to you.

[Anonymous No.54918427]

>>54916000
Housing has beat inflation every year since 1950.

[Anonymous No.54919245]

>>54918427
except it didn't between 1950 and 1970
also from 1988 and 1998
also from 2007 and 2013
(you are here) also from 2023 to 2030

[Anonymous No.54919273]

>>54900128
Birmingham isn’t the northeast faggot

[Anonymous No.54920616]

>>54919245
You just have to bag hold for 50 years, holding yourself captive because of an interest rate. But hey if someone wants to pay $600k for LVP flooring and white paint, be my guest. Hope it works out for them.

[Anonymous No.54920887]

>>54918269
Even if you 'own' you're mostly paying off interest to the point where with conventional financing you are paying off 100% of the purchase price in interest over the life of the loan. You're really missing the forest for the trees and are either unaware of what opportunity cost is or just intentionally avoiding factoring it into the decision making process.
>>54918427
I would hope so since you have an interest rate on it that's also higher than inflation.

[Anonymous No.54920941]

>>54920616
Jesus christ look at this cope. Yes I'm sure putting your money into rent and obamasonicone coin is the better value for money

Lmfao

[Anonymous No.54921083]

>>54920941
So you either believe that
A) the everything bubble hasn't popped but somehow for whatever reason real estate will outperform low cap meme coins
B) real estate is somehow a magical asset class which benefits from all inflationary bubble pressures but also is at minimum unaffected when those factors go the other way.

[Anonymous No.54921325]

>>54900106
>everyone got rich over the past three years except you

[Anonymous No.54921724]

i work in NJ in real estate(Not an agent). Its still extremely busy. Pricing up. Sales are down but pricing is up and will continue to go up. You need to incentivize people to sell. I duno how but thats the only way. Your not sellling your home unless you inherited it or your moving out an expensive state to cheaper state. No multifamily will sell cuz they are locked into cheap ass rates. If interest rates go extremely high you might get second homes that sell but thats it. If you dont have a home now i feel for you.

[Anonymous No.54922004]

>>54920887
>He doesn't pay early
Last year I paid a huge chunk into my 30 year loan. The equivalent of 10 years worth of payments. I managed to recast and bring my payments down to way lower than you could possibly rent. You talk about muh interest when you're sitting here paying your landlords mortgage principle, interest, escrow, plus premium.
How the fuck does that make sense?

[Anonymous No.54922054]

>>54921083
People need to live somewhere a lot more than they need goyphones or Netflix subscriptions. That's the difference.

[Anonymous No.54922076]

>>54921724
This was my thought as well. The most you could hope for is stagnating prices but with inventory this low, the few people that can afford to buy at these rates have to be cash bidders and it's likely a blood bath.

[Anonymous No.54922133]

>>54900158
My brother just sold his home for 350k when they bought it for 250k just 4 years ago, it was on the market for 2 days. Offer was 20k above their asking.

[Anonymous No.54922218]

>>54922133
>mutts also tip homeowners

you deserve to die

[Anonymous No.54922380]

Also, the market were I am is high end or shit homes. Very little inbetween. Middle class cant move. Think COVID lockdowns. I think it really is gonna fuck with people soon. The idea that you can move is something we need. We lost that in this market. If your middle class, your stuck. Again, I am extremely busy but i cater to ultra wealthy or poor.

[Anonymous No.54922473]

>>54905145
>T.retarded nigger who doesn't understand profit margins

Yes it does make sense to sell one house at 500k instead of 3 at 250 you fucking tard, because if the cost to build a home is 200k. Why build 3 for 150k profit when you can build one for 300k profit and get to fuck off.