yeah its another house thread so what

[Anonymous No.55377052]

im tired of living with my parents while waiting for this fabled housing crash /biz/,
i got a few hundred grand saved up and a stable six-figure salary maintaining software at a boring stable telecom giant, can easily afford a decent house in my area now even if eating the high interest and barely reduced prices stings

what's really the worst case scenario if i buy now while everyone and their grandmas are calling an impending crash?

[Anonymous No.55377059]

Then u go underwater for a bit then eventually make money on your house u dumb ngr

[Anonymous No.55377071]

>300k for 1000 sf
christ

[Anonymous No.55377087]

>>55377052
you can do whatever you want brotha. the world is your oyster

[Anonymous No.55377100]

>>55377052
>i got a few hundred grand saved up and a stable six-figure salary
where the fuck have you been the last 2 years you idiot? buy a fucking house already ffs. I make 40k a year as a wagie and I will never be able to afford a house, there will be no catastrophic crash, houses are going to just keep climbing and won't stop. even with interest rates risen, you buy a house with a fixed percentage you will still win. My boomer parents bought a house for 90k, 3.9% interest, they pay like 1200 a month for mortgage and still complain and spend money like crazy even though we are dirt poor, they are completely oblivious about the economy and wouldn't think twice about getting a 2nd mortgage with a 39% interest rate, to them this is magic money from lending. I will inherit debt when they die. It's over, the good guys lost ww2, the bankers ran this country into the ground along with the crook politicians flooding in the masses of illegal hordes.

[Anonymous No.55377111]

>>55377071
seen 1500-1800sqft for about the same, think that one's a flip bc the paint and interior look brand new
>>55377100
>where the fuck have you been the last 2 years
saving up said few hundred grand and then naively believing the prices would go down through 2022-23 lol

[Anonymous No.55377130]

>>55377111
>saving up
just pay a down payment, there are tons of lenders, I still get them spamming me with texts, phone calls and emails trying to get me a loan, I'm just waiting another year to report slightly higher earnings this year so I can qualify for a better rate/loan. Don't sleep on it man if you have at least a couple years of good income, a solid amount of money in the bank thats enough to get set up for practically any house you want. The longer you wait the more you will end up paying. Unless you believe these faggots who think buying a house is a useless liability, which it is in some aspects but a home is a home, you can't live off your shitcoins or savings account. I love my parents but living with boomers drives me to drink every day.

[Anonymous No.55377155]

>>55377100
DCA into BTC. The entire fiat grift rests on debasement outpacing wage growth, such that real wages fall while assets inflate. PoW crypto allows workers to opt out of the fiat grift, Bitcoin will pump because statist fucking shits will never stop debasing.

[Anonymous No.55377165]

>>55377100
I make the same as you and own a house. Move faggot. You know what nevermind fuck off we're full.

[Anonymous No.55377176]

>>55377052
i could retire with that money you nigger lover.

[Anonymous No.55377185]

>>55377155
I am, thanks. I have 0.31 btc, it's a lowly stack but then again, i'm poor.

[Anonymous No.55377194]

>>55377165
>bragging about earning poverty wages
When did you buy? Could you buy your house today? Nothing more pathetic than a waggie bootlicker who's allowed his real income to fall because of nominal gains on a house.

[Anonymous No.55377226]

>>55377194
he reminds me of this geriatric geezer I worked with bragging about visiting the andes and motorcycling abroad, buying a house at 25 but still working at 75 years old. Anyone with a grocery bagging wage could buy a modest house in 1965. Shit both my parents worked minimum wage jobs and where able to afford a home in 1998.

[Anonymous No.55377243]

>>55377185
WAGMI brother. Realistically BTC still has a 100x in it, might take a decade or two, but the systemic value proposition of Real Money is huuuuuge.

[Anonymous No.55377268]

>>55377243
thanks. just bought another million sats.

[Anonymous No.55377298]

>>55377194
>just give all your information on a data mining thread bro!

[Anonymous No.55377479]

>>55377298
Called it. Can't afford your house on your income, i.e. your real income has crashed through the floor.

[Anonymous No.55378904]

>300k for an American cardboard house
You guys are insane. Who buys that?

[Anonymous No.55379848]

>>55377052
>what's really the worst case scenario
Worst case scenario is that you overpay for a poorly built house that will need endless repairs. You end up wasting all your time and money fixing things/waiting on retarded "professionals" to fix things. If you walk into a house and your gut tells you that it's in poor condition, trust your gut

[Anonymous No.55379865]

>>55377111
>think that one's a flip bc the paint and interior look brand new
Flipped houses are the worst quality because house flippers don't give a shit and will just cover up all the problems so you don't immediately see them. The housing market is a nightmare. So many of the houses you see will feel like the dilapidated Fight Club house after a year living there

[Anonymous No.55379872]

>>55378904
a lot of people. but yeah, it's a scam. barely even 1000 square feet. where i live it's more like $350-375k. i work remotely, so i'm fucking off back to my hick hometown and buying a 1500 square foot house on 1+ acres for $170k.

[Anonymous No.55379921]

>>55379872
It's still a wooden shack. I remember thinking these were movie props, the houses where a car goes through the wall into the living room. Turns out those are real multi million dollar american houses.

KEK

[Anonymous No.55380225]

>>55377052
Wait for WW3 to pop off bro, soon

[Anonymous No.55380281]

>>55377100
Stocks out perform real estate

[Anonymous No.55380296]

>>55380281

Real estate is still a good choice, though. Certainly not as liquid but ideal for the long haul. Even if the housing market bottomed out, you still have a hovel in which you can live/store your things.

[Anonymous No.55380515]

>>55377052
My wife and I just started shopping for a house, after renting for 3-4 years while our careers stabilized years and getting married. The way I'm coping with the shit market is by buying a house that hasn't inflated in price too much and one that has a decent amount of land >2 acres. My reasoning is that the more land you have, the less likely the property will tank in value. Land always goes up, housing maybe not so much. As far as shit interest rates go, well who really cares, we'll be putting $150k down and overpaying each month, and plan to pay it off in 8-9 years before the accrued interest balloons

[Anonymous No.55380534]

Hey OP I'm in the same boat. Been making $150K/y for a few years and have like $300K saved for a down payment. Houses here are ~$600k, down from $750k, but way about 2019 prices of $300k.

I live at my parents currently but it sucks living with them desu. I thought ofc housing prices will go down but it hasn't happen in the way I thought it would. Part of me wants to make the move just for the sake of forward progress, but the other side of me says, "well you've waited this long" (been living at my parents for ~3 years now).

I don't know what you should do, but if I could get a place for $300k I would 100% do it. Mortgage will be absolutely nothing relative to your income. At $600k, I'm looking at $3 - 3500 a month or so all-in, which is a bit more difficult to commit to even if I make enough currently.

[Anonymous No.55380560]

>I have multiple hundreds of thousands sitting around hurrr durrr wut do i do????
Jesus fucking christ idiots like you deserve to be miserable. Absolutely insane.

[Anonymous No.55380935]

>>55377100
My brother makes 35k/year and was able to buy a house.

You need to move.

[Anonymous No.55380954]

>>55380296
why do you need to store "things?" so you can become chained to them? with stocks you can live anywhere at any time.

[Anonymous No.55380969]

>>55377176
I have 200K, i'll give you half if you can tell me where I can retire off the 100K and it isn't some crime infested dictatorship shithole

[Anonymous No.55380992]

>interest rates raise to 8%
>it couldn't possibly go higher
>the high rate will lower the prices of houses
>Then I swoop in and get an ARM loan and rake in the decreasing rates

This is what I want. Will it happen?

[Anonymous No.55381013]

>>55380992
>rates don't go down
>you get fucked once you cross over the 5/1 threshold

[Anonymous No.55381021]

>>55380954
Do you not have any hobbies

[Anonymous No.55381035]

>>55380935
there's a floor on cost of living. i don't care how cheap houses are, he's house poor as fuck.

[Anonymous No.55381144]

2875 Rio Montana Dr.
Marietta, GA 30066

[Anonymous No.55381175]

>>55381144
>45% non-hispanic white
>30% black
>flipnigger special, gray lvp goyslop deluxe

[Anonymous No.55381180]

>>55381144
Eeesh. You're gonna be buying some serious bags. Enjoy your Flipper Special home

[Anonymous No.55381201]

>>55377052
You’ll be buying at near the very top of the market before it sinks hard. Then again most people have once in a lifetime generationally low interest rate mortgages and are in no pressure to sell. I guess it depends on where you live and what the circumstances of your particular market are. Don’t ask advice from realtors.

[Anonymous No.55381218]

>>55377052
Actually owning and living in a home is more valuable than whatever imaginary price it could or come isn't be in the future. Especially if you don't currently own one.

[Anonymous No.55381478]

>>55381035
His mortgage payment is $600/mo + $250/mo prop tax. He's in a 90% white small town in Midwest with 4-star schools, outside a 500k metro with a major university.

Move.

[Anonymous No.55381520]

>>55381478
thanks for confirming that he's house poor as hell. home prices scale with income. the only "hidden gems" are massive shitholes: high crime areas like detroit, or jobless fetanyl white trash hellscapes like west virginia.

[Anonymous No.55381543]

>>55381520
>29% of income
>house poor

I miss when this board had intelligent posters who gave me advice like "Buy LINK at 0.20".

Now it's just full of broke Zoomers.

[Anonymous No.55381638]

>>55381543
i work in accounting. what are taxes, retard. also you don't seem to grasp the idea that cost of living has a FLOOR.

>$35k pre-tax = >$26k after health insurance and taxes = ~$2.2k/mo
>$850/month mortgage + taxes
>$100/month homeowners insurance (probably more since it's a midwestern tornado magnet)
>$200/month water, trash, gas, sewer, electric, etc. utilities
>probably MIP/PMI as well since a $35k/year poorfag doesn't have 20% down, but let's pretend it doesn't exist
>$1150/$2200 = 53%

now back out bare minimum (the FLOOR) on cost of living

>$300/month food
>$200/month insurance/gas/upkeep on a car you own outright, driving 1 hour each way to work in midwestern hell
>$50/month welfare phone plan

you're down to $600/month savings. better hope you don't have any emergencies or unexpected expenses because all of that needs to be allocated to a 401(k) pre-tax if you ever want to retire.

[Anonymous No.55381650]

>>55377100
don't give up. i make 41k a year and i've bought two houses. one in a mediumsized coastal city, one in the mountains. my primary mortgage is 1250 a month. the mountain property was paid off in an off market private deal. i am sole breadwinner for a family of 8. other than medicaid, we receive no gov't assistance. life is good and i want everyone to make it.

>I will inherit debt when they die. It's over, the good guys lost ww2, the bankers ran this country into the ground along with the crook politicians flooding in the masses of illegal hordes.

this is the sad reality we live in. succeeding despite this is the only effective resistance you can offer against international jewry.

[Anonymous No.55381655]

Housing crash coming any day now. You renters are so smart for not buying. Continue renting the time being, housing crash soon

[Anonymous No.55381702]

>>55377243
Bitcoin fanatics are the funniest people on this board. Other than GME clowns of course.

[Anonymous No.55381715]

>>55381650

[Anonymous No.55381740]

300k for a shitty mobile home lmao..
Houses are such a scam. If there wasnt such retarded rules and everyone could build their own houses they would be cheap.
The average american house is a plywood shack built by mexicans and has nowhere near 500k of value

[Anonymous No.55381783]

>>55381638
>a poor fag with a 35k/year salary can own a home, a car, a cell phone, budget for food and utilities, and still have 1000/mo left over for personal expenses

Nailed it.

You certainly don't work in lending if you think PITI is calculated on net income and includes utilities.

25% income taxes on a 35k/year salary is wild, especially with a 13k standard deduction.

[Anonymous No.55381963]

>>55381783
do you have an adult learning disability? serious question.

$35k less $14k standard deduction = $21k taxable
$2.3k federal income (on brackets you posted)
$2.7k payroll (7.65% of $35k gross)
$1.1k state income (3% in my state)
$0.3k local income (1%, fairly standard in my state)
==> $6.4k taxes (18.3% marginal rate)
==> $28.6k less $2k health insurance = $26.6k

PITI is irrelevant. we're talking about being house poor from a personal finance perspective, not evaluating bare minimum lending standards designed by banks to balance maximum returns with acceptable credit risk. someone making $35k/year with a "$850/month mortgage and taxes" is poor as fuck. and back to my point -- there is no magic bullet HECKIN BASTE low cost of living area. incomes and home prices are tightly coupled except for reasons i outlined here >>55381520 .

[Anonymous No.55382018]

>>55381175
im not actually buying that one lol, i picked a random one from a couple suburbs over just so i could have a picrel, way too far away from my job anyway

ill just say the one im actually eyeing is in a 60% white / 30% asian / 10% undesirables area, 350k for 1700sqft

[Anonymous No.55382127]

>>55381175
also dont worry about me, i always consult the map :)

[Anonymous No.55382300]

>>55381963
Nice! You lowered your incorrect tax estimates after I posted the tax bracket. Whoever you do accounting for would be proud.

He's in Michigan, 20k standard deduction on state taxes, so he pays 1.8%. No local taxes. Also gets $1600/year form the state for property taxes (homestead credit), so he only ends up paying about $100/mo in those.

Move.

[Anonymous No.55382513]

>>55377185
Taking risks on altcoins can be a game-changer, especially when BTC isn't bringing in the big profits unless you're loaded. Added DUA on TraderJoe before the wallet's released. Once that official release happens, it could skyrocket to the moon. Self-custody is where it's at.

[Anonymous No.55384531]

>>55381520
This isn't true. If you looked, the ratio of the median home price to the median salary is three nationwide, but in some places it can get as high as ten.

[Anonymous No.55385762]

update my fellas, sent a 310k offer for a 1600sf 3br townhome w/ garage and yard, mostly yt's walking around the neighborhood too, wish me luck boys