/biz/ - Business & Finance

[Anonymous No.55099168]

>median sales price of existing homes: $389k
>$2450/mo mortgage @ 5% down, 7% interest for 30 years
>$250/mo PMI
>$600/mo taxes & insurance
>$300/month utilities
>$3600/month total ($43k/year)
>50th percentile household income: $70k
>60th percentile household income: $90k
>70th percentile household income: $113k
>80th percentile household income: $150k

reminder that normies are signing away nearly $4k/month while the vast majority of them literally cannot afford it.

[Anonymous No.55099188]

is buying a house in the current market a literal scam?

[Anonymous No.55099214]

>mortgage at current rates costs 2x the rent on a similar house
>landleeches are literally PAYING you out of their own pocket to live in their shitboxes

[Anonymous No.55099250]

>>55099188
yes. i look at my market and it's 50/50 between
>1500 square foot boomershack with nicotine stained walls, filthy tear-out carpets, peeling wallpaper $330k
>flipnigger special purchased 2 months ago for $230-250k and """renovated""" with gray paint, cheap stateliness appliances, gray """luxury""" vinyl plank chinkshit flooring, new windows, $370-390k asking price

[Anonymous No.55099322]

>$250mo PMI
how bad does your credit have to be to pay 250 a month in PMI? I pay 59 lmao

[Anonymous No.55099341]

>>55099250
t. upset he lacks the skills and work ethic to flip a house and make $150k in 6 weeks

[Anonymous No.55099350]

>>55099322
if you have an FHA loan it's set according to a LTV and loan size, not credit score.

[Anonymous No.55099373]

>>55099250
(((Dr. Levit)))

[Anonymous No.55099392]

>>55099341
all of the good flip targets won't meet standards for financing so you're right, i don't have $250k cash + $50k renovation costs in my back pocket. also seems like a dangerous game when you consider how shitty these boomer mausoleums are. they were built back in the 50s by a jew (william levitt) so they undoubtedly have lead paint, asbestos, etc. that the flipnigger is rolling the dice on.

[Anonymous No.55099423]

>>55099392
>boomer retard buys back in 1979 for $77k inflation adjusted $
>shits his pants and consooms for 44 years
>can't even be fucked to maintain the home
>UH OH TIME FOR A NURSING HOME

[Anonymous No.55099522]

>>55099168
>e3a2e0d48d3c416d1c84cc75ab620fafcb8868512f1cf8022d7e1b36e093ad71.jpg

[Anonymous No.55099687]

>>55099168
>asszeOrg
How can I profit from this?

[Anonymous No.55101242]

>>55099168
>389k for a house

funny

[Anonymous No.55101401]

>50th percentile household income: $70k
>60th percentile household income: $90k
>70th percentile household income: $113k
>80th percentile household income: $150k

These are completely outdated numbers. Fast wood workers make 50k now.

[Anonymous No.55101461]

>>55101401
Remember printing money doesn't cause inflation chud.

[Anonymous No.55101490]

>>55099373
Every. Fucking. Time.

[Anonymous No.55101493]

>>55101401
these numbers are from 2022. you're under estimating just how poor most people are. fast food workers in my suburb might make $18/hour if they're lucky.

[Anonymous No.55101535]

>>55099250
>Levittown
kek

[Anonymous No.55101559]

>>55099168
>didn't calculate down-payment
>doesn't realize you can refinance your mortgage
>doesn't realize actual people have wives who they split bills with

Yeah I'm gonna guess you got your financial education from YouTube huh?

[Anonymous No.55101569]

>>55099168
>can't afford 4k

just pay cash, chud!

[Anonymous No.55101577]

>>55099250
>boomershack
LOL

[Anonymous No.55101590]

feels good to never have had any interest based debt, never enslave yourself to kikes guys

[Anonymous No.55101596]

>>55101559
>your shelter is reliant on your wife working

[Anonymous No.55101609]

>household income
so complete horseshit that has nothing to do with actual income

[Anonymous No.55101618]

>>55101590
Mashalla Brother

[Anonymous No.55101657]

>>55101242
Red pill me on Bay City. It has prices comparable to nigger shitholes like Flint yet it's on the water and is very white. Is it full of white trash like West Virginia?

[Anonymous No.55101714]

>>55101618

[Anonymous No.55101803]

>>55101657
white trash

[Anonymous No.55101863]

>>55101559
I put the down payment in the post, nigger. 7% is the historical average for rates, you aren't refinancing to a lower rate, and even if you could that's only an option at 80% LTV. also lol at relying on two incomes to afford the mortgage, let alone a woman.

[Anonymous No.55101867]

>>55101493
In my state they still make $13/hr

[Anonymous No.55101879]

>>55099168
Stay homeless kek

[Anonymous No.55101929]

>>55099168
Cope. I own my house lol. No mortgage. Just $6k a year in property taxes and another $2k for maintenance. 2400 sq ft home on 6 acres of land. Keep seething.

[Anonymous No.55101933]

>>55101863
>WAAAAAAAAAAH i have to find a woman to afford a house in my desired area and no one will be with me because im a whiny little bitch

[Anonymous No.55102068]

>>55099168
>>$250/mo PMI
>>$600/mo taxes & insurance
>>$300/month utilities
Bullshit you lying faggot.

[Anonymous No.55102081]

>>55102068
hush, we want these retards to stay in the cities

[Anonymous No.55102105]

>>55099168

This is why I'm hoping for mass defaults when student loan payments resume. I'm sure there are a lot of normies out there who expected Uncle Joe to cancel their debts and are going to be in for a rude awakening when they have to budget for another $1000/mo after their loan balance has gone down by exactly zero over the last three years payments have been deferred. I'll be in the market right about that time to swoop up a cheap foreclosure.