/biz/ - Business & Finance

[Anonymous No.56303135]

It's happening, financial crisis II

[Anonymous No.56303144]

>>56303135
Fuck hoomers

[Anonymous No.56303177]

I don't know what everyones bitching at the prices came down and rates went up.

It basically costs the same as it did 2 years ago to buy a house. Nothing has changed except peoples perception.

[Anonymous No.56303179]

>>56303135
My wife and I almost bought at 7% because we have $80k cash, $200k combined income, and can still find reasonable houses in our area for $400k. But then we realized did we just keep saving, we'll likely have $100k+ by this point next year, lower rates, and a cooled housing market, plus we might even be making some more income. So yeah, only desperate, exceedingly liquid/cash rich, or stupid people with fomo are buying.

[Anonymous No.56303197]

>>56303135
All the people who fell for the home owner FOMO for the past 2 years are going to get raped by interest.

[Anonymous No.56303208]

>>56303197
>about 10k people are screwed in a nation of like 180 million homeowners

[Anonymous No.56303213]

>>56303177
Except prices havent gone down at all retard.

[Anonymous No.56303233]

>>56303135
LMAO, and /biz/ is BTFO again
Amazing how this board can be so wrong

[Anonymous No.56303242]

>>56303135
The historical average is 8% and Russia is sitting at 13% and I have it on good authority that they're doing fine.

[Anonymous No.56303247]

>>56303197
In the US most people get fixed rates so they're paying only 2% or whatever until it's paid off.

[Anonymous No.56303255]

>>56303197
>Raped by interest
My wife and I got our mortgage at 2.5%. You missed the boat.

[Anonymous No.56303291]

>>56303213
REIT is down 30% from the highs. Go back to school kid.

[Anonymous No.56303330]

>>56303177
Houses absolutely did not return to 2021 levels, they stalled a bit, but otherwise have no returned.

[Anonymous No.56303353]

>>56303291
>From the highs
Bought at 375, sitting at 410. Just don't buy the top. Also unless you're a boomer, homes are to be lived in, they're not stocks. The value going down means taxes go down. And that's a good thing.

[Anonymous No.56303360]

[Anonymous No.56303388]

>>56303242
>Russia is doing fine
Who's your authority ziggers on /pol/?

[Anonymous No.56303400]

>>56303177
>>56303213
There appears to be some confusion regarding the housing market. People need to understand that housing is a stable investment, meaning it takes time for outside factors to have an effect. Compare that to interest rates that change constantly.

So yes high rates will reduce housing prices, but it might take a year or more.

[Anonymous No.56303410]

Property is for lords, not peasants. You proclaim your allegiance to white culture, well shall it return. For me, not for thee.
Whites are slaves and exist to serve the aristocrat class and the aritocrat class serves demons, the peasants that existed in europe were given a reprieve during the age of exploration because their wranglers sights became focused on the free world. Now that the free world is no longer free, the domestic side things will return to the mean, seemingly unaware that their house nigger status was only temporary and their uppity disposition is an inside joke. Your freedom is a meme, you were never free and you will never be free. Its over

[Anonymous No.56303472]

>>56303388
Dont try to make zigger a thing globohomo kike

Biz really needs flags..

[Anonymous No.56303530]

>>56303388
I'm being ironic. These cunts are claiming 7% is too high and in the same breath you know they'll glaze up Russia and pretend 13% is just fine.
Total zigger death btw

[Anonymous No.56303577]

>>56303179
> we'll likely have $100k+ by this point next year, lower rates, and a cooled housing market

I somewhat agree with you, but there’s a lot of people with this line of thinking. If enough people like that exist, the home prices will start going up immediately when rates start going down.

[Anonymous No.56303682]

>>56303577
Not if. When. The only if is if rates ever come down again. But when they come down prices go to the moon.

[Anonymous No.56303738]

>>56303577
The problem right now is the job market still isn't cooling (see jobs report today). So we're sitting in this stalemate. Not enough people are losing their jobs so not enough people defaulting on mortgages to move the market down.


Everyone who owns isn't going to sell because they currently have a 3% or lower rate which they'd then swap with an above 7% rate. So they'd essentially be buying less house. And on the other side you have lots of people like >>56303179 who could buy, but want to stay on the sidelines and see what happens.

So no one is selling and no one is buying. These circumstances differ significantly from 2007 OP so you can forget about this big crash you keep calling for.

Also agree with >>56303530 historically 7% is still a great mortgage rate. In the US in the 80s, rates go into the high teens.

[Anonymous No.56303864]

I bought a car and drove it 200,000 miles and now they are saying it’s worth less than I bought it, we need change.

[Anonymous No.56303926]

>>56303738

>2007

This is why no one should vote for republicans or conservatives in general, they cut down growth and syphon money out of the economy for themselves, then try to increase the power of the dollar so their money gains more power.

They use the narratives of “freedom” to hire illegals for cheap labor and cut off labor laws.

> it’s good for the economy.

[Anonymous No.56303990]

>>56303926
>trump slowed the economy
>covid + PPP

[Anonymous No.56304026]

>>56303177
Prices are only "down" on the coasts. Midwest retards still at ATHs.

Either way, no one can actually afford a home. Wherever you live. Coasts skew the average down but housing is still UNOBTAINABLE.

[Anonymous No.56304033]

>>56303577
>there’s a lot of people with this line of thinking.
I agree, but 87% of people don't have a household income of 200k. He's in a much better position to actually take advantage.

[Anonymous No.56304086]

>>56303738
>The problem right now is the job market still isn't cooling (see jobs report today).

Ah yes, it's our fault. Sorry I'm just not going to stop working from home. I'm just not going to stop fighting the Fed. Very sorry that I'm causing inflation, not!

Typical bootlicker blames one side of the equation, but never corporations or landlords who raise prices once money is detected.

It's like we can't win. I get 2 remote jobs, landlord catches whiff of it, and before you know it rent doubles. The truth is, we saw for the first time (in 2020 - 2022) non stagnant wages and they have been trying to crush that. No matter, I will continue to fight the fed and work from home.

[Anonymous No.56304331]

>>56303179
>200k combined income,
>$80k cash,
>But then we realized did we just keep saving, we'll likely have $100k+
You save that little?

[Anonymous No.56304553]

7% isn't the problem, income to home price is. Prices are extremely over-inflated.

[Anonymous No.56306114]

>>56303197
1.5% fixed for 10 years
oh no
I will cry in pain as I raise your rent

[Anonymous No.56307624]

>>56303177
prices down 5%
rates up 5%
the smallbrain can't understand that this is a HUGE increase in price

[Anonymous No.56307691]

>>56303135
dawg people bought homes when interest rates were 20%

it's always a better idea than renting

cope

[Anonymous No.56307756]

No one is selling because they’re locked in around 2% or 3%. No one is buying because they can’t afford to pay 8%. It’s a stalemate for now. Either we begin to starve and homeowners capitulate and sell for much lower prices or the fed mass prints trillions and lowers rates and people fomo in and pay $1.5M+ for a fucking starter home.

[Anonymous No.56307761]

>>56306114
>I will cry in pain as I raise your rent
based

[Anonymous No.56307769]

>>56303144
OK renter

[Anonymous No.56307782]

>>56303135
It's probably not happening. I too thought it was happening but Biden, Powell and Yellen solved economics instead.

[Anonymous No.56307812]

>>56307691
>it's always a better idea than renting
>always

[Anonymous No.56308171]

>>56307769
>elder boomer bragging that the younger generations are priced out of owning a home
Clownworld

[Anonymous No.56308176]

>>56304086
Without artificially suppressed wages, wealth flows to the people actually doing the work. The gerontocracy can't have that.

[Anonymous No.56308780]

>>56303990
PPP literally only took money from government into corporate pockets. It was a tax on all civillians and inflating corporate wealth. This means civillians suffered inflation with zero benefit to themselves. Straight up theft, and the zero oversight was intended because GOP are crooks.

[Anonymous No.56309505]

>>56303242
it is healthy. but our lifestyle is in for a change

>>56303388
get we get a onions face?

[Anonymous No.56309687]

>>56303179
someone could get laid off too

[Anonymous No.56309725]

>>56303291
>REIT is down 30% from the highs
>so house prices are down
That makes no goddamn sense. REITs are down because a lot of them are full of office spaces they can't rent out

[Anonymous No.56309726]

>>56308171
He died and you can't find his Facebook anymore if that's any consolation

[Anonymous No.56310792]

>>56303179
Or people leaving shithole cities

[Anonymous No.56310801]

>>56303213
They have. National peak was 479,000 in Q4 2022 and Q2 2023 it was 416,000.

The estimate value of my home has dropped about 150,000 which I am happy about because it lowers my tax basis

https://fred.stlouisfed.org/series/MSPUS

[Anonymous No.56310857]

>>56303179
>then we realized did we just keep waiting
Exactly. Tons of people are thinking the same. It's basically the downward dildo on a stonk going on right now what with interest rates super high and foreign investment super low

[Anonymous No.56310866]

>>56310801
>The estimate value of my home has dropped about 150,000 which I am happy about because it lowers my tax basis
this lol

[Anonymous No.56310967]

>>56304331
hey, she wants a SUV and holidays in Seychelles

[Anonymous No.56311046]

>>56307691
There is a very specific mathematical situation where that could be profitable. Not taking income into account, the house has to be cheap enough that mortgage payments of 20% are lower than average renting. And that implies the house is cheap and a piece of shit. No thanks

[Anonymous No.56311133]

>>56303179
Hey, Cam.

[Anonymous No.56311388]

>>56303242
8% is fine if the price is 200k. And soon, it will be.

[Anonymous No.56311484]

>>56303197
Keep your unwanted yuropoor opinions to yourself. K thx bye

[Anonymous No.56311848]

>>56311484
keep your unwanted yuropoor opinions to yourself k thx bye

[Anonymous No.56311944]

>>56303926

And Democrats do the same but have a pride flag on their desks.

[Anonymous No.56312400]

Lol

[Anonymous No.56312922]

>>56312400
lol

[Anonymous No.56313174]

>>56311388
The people that bought at 400k at 2% aren't going to sell you their home at 200k just to buy a new house at 8%. They're on fixed rate mortgage so why would the interest rate rising cause then to sell? You're gonna be waiting forever and ironically still pay more because you don't understand interest.

[Anonymous No.56313309]

>>56312922
shut your stupid ass up pussy you think you're funny or what you think this topic is something to be joking about huh shut your damn mouth and grow up you stupid ignorant dick

[Anonymous No.56313322]

>>56304331
the organic eggs are pricey

[Anonymous No.56313431]

>>56307756
Why would I sell? I need a place to live in and I can't rent out the second home. I'm literally never selling. I'm going to inherit the house to my child one day.

[Anonymous No.56313452]

>>56310801
Rates are up like 3% in that time. You fucked up. The house is more expensive even at cheaper value.

[Anonymous No.56313482]

>>56313322
sure i do agree that the price of organic eggs has increased recently i have noticed that they have become costlier compared to their conventional counterparts

[Anonymous No.56313669]

>>56313482
yeah so basically what's happening here is that there's this inflation going around and since organic eggs are kinda a niche product or whatever these companies are using that to their advantage to increase their prices and it's totally bullshit man i've got to tell you these companies are gouging us all and if some politician is reading this please look into the organic egg situation because it's totally unfair and the cost of living is increasing enough as it is what with gas prices and all this inflation and everything

[Anonymous No.56313731]

>>56313669
Things are worth what people are willing to pay. Stop paying.

[Anonymous No.56313813]

>>56303179
“If” you keep your jobs

[Anonymous No.56313832]

>>56313731
the value assigned to an item is determined by individual perspective so it is pointless to try and dictate where money should or shouldn't be spent

[Anonymous No.56313858]

>>56306114
>The landlord cries out in pain as he strikes you

[Anonymous No.56313869]

>>56303242
>>56303738
>historically 7% is still a great mortgage rate. In the US in the 80s, rates go into the high teens.
They weren't borrowing at the current rate. Somewhere in the mid to high teens the US government automatically defaults (we have to start borrowing to pay interest) so that's not happening. It might hit 13% but it's not going past that and shit *will* break much lower than that.

[Anonymous No.56313993]

>>56313869
listen moron no one said the 80s rates were great the point is that 7% is still a normal rate for a mortgage so shut up and grow up and the government is not going to default just because interest rates rise a little bit you paranoid dumbass

[Anonymous No.56314020]

>>56303179
>makes $200k
>only saves $20k/yr
That's pathetic

[Anonymous No.56314084]

>>56313174
Less than 5% of the market bought anywhere near the top, you dumb fucking bagholder

[Anonymous No.56314086]

>>56303135
TOTAL
HOOMER
LIQUIDATION

[Anonymous No.56314092]

>>56303179
You need 3-5 years salary saved in a rainy day fund before you start thinking about buying.

[Anonymous No.56314163]

>>56314020
you know what's pathetic not minding your own business you're probably one of those broke ass losers that think they know everything about money how about you get a life

[Anonymous No.56314329]

>>56314163
you are a stupid little idiot who doesn't have a clue about money you should stop talking about things you know nothing about and get a job

[Anonymous No.56314461]

>>56314329
listen up you little twat i’ll make a bet you’re a broke ass kid living in your momma’s apartment with a gender-studies degree from your local community college you don’t know a goddamn thing about money and if you did your credit rating wouldn’t be so bad i make $200k a year and drive a ferrari what about you

[Anonymous No.56314477]

>>56313993
>no one said the 80s rates were great
Well he specifically said they were fine.
Regardless high rates will cause prices to decline which isn't my problem as I have no real estate exposure.

[Anonymous No.56314642]

>>56314477
you're replying to a bot, silly

[Anonymous No.56314656]

>>56314477
If people would buy their house to live in and not larp as a real estate investor it wouldn't be a problem for anyone

[Anonymous No.56314707]

>>56314477
why don't you stop sniffing your own fart and actually think for a moment about how real estate markets work dumbass people who overborrow are the ones that get into trouble in a high-interest-rate environment people who don't have debt or who only borrowed a little get along just fine

[Anonymous No.56314880]

>>56314707
i'm just too smart for you you simpleton stop sniffing your own farts and go sit in a corner and think about how retarded you really are there is that direct enough for you

[Anonymous No.56315028]

>>56314880
i'm too smart for you you big dum dum

stop sniffing your own farts and go sit in a corner and think about how retarded you really are there is that direct enough for your simpleton mind

[Anonymous No.56315137]

>>56315028
hey there dumbshit what are you a bunch of turds what is it with you and sniffing your own farts dumbass do you have an issue with being a moron

[Anonymous No.56315275]

>>56315137
listen up you turd brain i know your little pea-brain would like to insult my intelligence but you can take your pathetic comments and shove em up your ass oh wait you can't because your too busy sniffing your own farts and jerking yourself off to be in touch with reality

[Anonymous No.56315415]

>>56315275
look listen you little turd brain i don't have a pea-brain you sound like a little child crying for a pacifier keep sniffing your farts and wanking yourself off to your little fantasy land

[Anonymous No.56315450]

>>56303179
>only desperate, exceedingly liquid/cash rich, or stupid people with fomo are buying.
rich people don't buy houses now when they can get 5% from t-bills
people who need to launder money do.

[Anonymous No.56315463]

>>56303242
>The historical average is 8%
Lol. Its like saying this puddle of water is on average 5 inch deep. Doesnt matter when at the spot its 100 feet deep.

Plus, just for people doing the map: Going from 3.5% to 7% requires real estate to drop nearly 50% to make amortization amounts equal. How much have they gone down? 10%? 15%? Its a joke.

[Anonymous No.56315590]

>>56315463
what the hell does this have to do with me i'm not a financial analyst i ain't got time for your nerd bullshit

[Anonymous No.56315607]

>>56314020
This, how the fuck are you not saving at least 80k of that

[Anonymous No.56315644]

biden will pull all tricks out of his bag and hat to make sure nothing happens in 2024
chillax you dumbfuck niggers

[Anonymous No.56316680]

>>56303179
>we'll likely have $100k+ by this point next year, lower rates, and a cooled housing market
>plus we might even be making some more income
Keep on waiting then because none of that will happen lol lmao

[Anonymous No.56316720]

>>56313832
If you're bitching about the cost of an item and you continue to buy that item even though that item is a luxury item you could easily go without then you only have yourself to blame. Stop buying that item and maybe the price will come down. Or suck it up and realize that the cost is justified otherwise somebody would be selling it for cheaper.

[Anonymous No.56317261]

>>56314020
>>only saves $20k/yr
Why do you assume they have made this much money for 4 years? I am in same situation only made this much recently in past 1.5yrs and Ive hit close to 100k. Your assumptions are negative because your world view is negative.

[Anonymous No.56317624]

>>56311484
I own my own home outright Amerifag.
Shouldn't you be cutting off your cock to send to Israel right about now?

[Anonymous No.56317958]

>>56314163
I make less than you yet have more savings, save over twice more yearly, have a bigger dick, and a hotter wife. You will never make it, you are pathetic.

[Anonymous No.56318030]

>>56317261
He said he'd only have $100k next year, illiterate faggot.

[Anonymous No.56318058]

>>56303135
The world population will be like 5% of what it is now in a few decades

[Anonymous No.56318310]

>>56318058
nobody is having children anymore. who would want to give birth in this wretched society?

[Anonymous No.56319441]

>>56318030
he may have debts he will be paying off in addition to saving

[Anonymous No.56319542]

>>56319441
Then he doesn't even have $80k. He already explained he was poor because his fat ugly whore wife likes to live beyond their means: >>56310967

[Anonymous No.56319570]

>>56308780
All that covid plandemic shit was bipartisan, democrats controlled the house at the time, you retarded subhuman cattle.

[Anonymous No.56319665]

>>56304331
Liquid cash, yes. But I also invest almost everything else into index funds and 401k.
>>56314020
See above. I invest far more aggressively than I save because I don't want to be a Walmart greeter when I'm 60.

[Anonymous No.56319673]

>>56304331
Also, I meant $100k extra. Dumbass.

[Anonymous No.56319843]

>>56319673
>actually I save $100k/yr!
Why lie? You are so fucking pathetic.

[Anonymous No.56320142]

>>56307769
Now let's see him defend it without getting raped by the DA.

[Anonymous No.56320179]

>>56319843
>6 pbtid
Maybe if you spent a little less time posting, and more time working or reading, you'd make enough to save $100k in a year.

[Anonymous No.56320225]

>Just drive into a random white middle class suburb with kids and schools, step out of the car with a rifle and shotty, kick down the door of the nearest house and kill everyone. Just go door to door and kill every person of every family you see indiscriminately until SWAT finishes you.

This will be common in the next 2 years.

[Anonymous No.56320264]

>>56319570
This. Objectively 2016 2020 was the best time economically if you were working class. Now we have president dementia pushing the same new york san fan focused "green" and "dei" policies that dont produce any actual growth we had from 2008 to 2016

[Anonymous No.56320830]

>>56320179
>5 pbtid
Own my home outright, rentiod. Maybe if you stopped lying on the internet you'd be able to afford a house

[Anonymous No.56320939]

>>56303247
No we aren’t you third world retard.

[Anonymous No.56320959]

>>56320225
what the fuck

[Anonymous No.56321414]

>>56303577
>but there’s a lot of people with this line of thinking.
I'm sure you have some kind of evidence to support this claim.