Why haven't you bought a home yet?

no downpayment saved yet
prices too high
prefer liquidity

>alberta canada

>>1088180
I really fucking want to but even on a quant salary I cant afford a place in london yet

Because renting is better

>>1088180

Just sold mine.

Renting out a house now. Bought a plot of land in Miami. Gonna build a mcmansion there.

>>1088180
I don't make enough to own a house in the area I want, and probably never will. Its not that expensive I'm just low class as fuark.

> Not realizing that low interest rates correlate with high principal.

Stay plebiscite!

>>1088185
>London

Christ, I would rather stab myself through the hand than try to buy property in London.

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because i never want to own an amerihut

>>1088180

I live in a housing bubble and counting on a correction. When cunts start to have 20% or more wiped off their properties and start defaulting, I'll consider it.

>>1088211

WTF is this shit? Is this supposed to be a house or something? Are all American houses made out of paper and twigs?

>>1088207
I'm planning on living here just long enough to save up enough for a downpayment on a place in a city I actually want to live in, either in Canada or maybe the States. I'm just in London because of the pay and the name for my resume.

>>1088185
Considering.
What do large two bedroom flats near Hyde Park cost?

>>1088237
1-2 million

>>1088180
That's something you need money for.

>>1088180
Because I live an hour away from Boston. Our broken down, century-old houses are 400k with heavy maintenance yet there's no amenities to justify the price and even a new roof risks breaking from ice dams every year.

Fuck this place.

>>1088247
people think that the current trend in house prices is a sign that there's going to be a price correction and the bubble will pop, but I think what's actually happening is that the class divide between landowners and the rest is coming back, the coming generations will only own a house through inheritance or if they strike riches

the rest will be stuck renting their entire life

>>1088254
Makes sense, the population is only ever growing. US is up 60% in the last 50 years, the world is up over 100%.

>>1088258
the way I see it is that we had a temporary reprieve from the status quo of wealth inequality thanks to ww1/2 similar to the effect of great disasters like the black plague, and just like after those disasters we're now returning to the way humanity has always been, an enormous divide between classes and the barrier between them being very difficult to cross

somebody who starts with nothing is going to struggle to compete with somebody who is coming from 3 generations of building wealth, and as time goes on those numbers will just pile up. meanwhile the renting class builds nothing and passes on nothing. it's straight from history.

something would need to drastically change for this trend to stop, and honestly if something did stop the trend it would probably be a bad thing. if you can't pass wealth on through generations something is usually going wrong

>>1088225
yes

the shills in this thread would try to convince us to hang 15/30 year mortgages around our necks for a stack of MDF glued together with the cum of a half dozen illegals

Building up my career first and saving for the deposit. Can't wait for prices to go down because rent is so inflated where I am in Australia that paying off a mortgage is always a better prospect.

>>1088180
because even the shittiest house in this neighborhood cost at least 1.5 million dollars

>>1088180

Because I still think the housing market is overpriced. Prices have fallen a bit lately but I think they will decline further.

>>1088180
because the average house price in Melbourne is $710,000 and has been consistently increasing by 5-7% a year for the past 50 years

seriously thats 800$ a week for a 30 YEAR LOAN
thats not to mention the $40,000 deposit,

im only 22 for fuck sake i need to be earning over $80000 a year to afford a home

>>1088288
between taxes, various fees, living costs, maintenance etc you end up needing to earn much more than that actually

>>1088288
Wrong state???

>>1088288
See
>>1088291

As a rule of thumb you should never buy a home that's over 3x your salary. Yes, that does mean most people can't afford one.

>>1088292
I work as a mechanical engineer ever sine the mining boom ended to find work in my field i need to be close to a major town of over 10000 people to be close to small manufacturing businesses and factories.

the closest town with a population over 10000 with an average house price below 500,000 is over 2000km away (1250 miles).

i would like to see my friends and family for more then once or twice a year so im not willing to move that far to own a house.

>>1088301
lol that wont work in Australia mate you need to be earning over 100,000 a year to buy a home 30Km away from any city with over 10000 people in it

>>1088288
>buying near the city
No wonder you can't afford a house.

>>1088325
30km away from a town with 10000 people isn't close to a city, you literally cannot find a house under 200000 in the whole of Australia that inst a 3 hour drive away from a town of over 100 people

>>1088301
yeah. I'm earning around ~180k gbp which is about 250k usd and its still looking like I wont be able to buy anything reasonable until I leave london. I need something reasonably close to work since my days are so long a long commute would break me. it wasnt until I looked at buying last year that I realized just how expensive it is. if you asked me 2 or 3 years ago I would have told you buying something while earning this much would be trivial but its far from it. I have no fucking idea how anybody earning less than me could possibly do it.

>>1088328
You can get a house 15m from Adelaide for under 200k. Whether you'd class that as a town >100 people I'm not sure but it's there. Only melb and Sydney are insanely overpriced.

>>1088225
yeah
that's why half of new orleans blows away every couple of years lol. Btw it still costs as much as a real house

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Because it's a boomer meme, just one more way to enslave yourself. Why don't you get married and have kids btw?

Also I will inherit my parents' house at some point, it's not big but quite comfy.

>>1088180
I'm young and studying and no monies atm but in working towards it :|

>>1088339
>Adelaide
ah crack town 1000km away from any city with more than 100k inhabitants. But hey at least the house was 200k

>>1088349
this desu senpai, parents house was bought at 500k 10 years ago, ill just /homeless/ til they die and then live in it

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>>1088353
>1000km away from any city with more than 100k inhabitants.
See pic.

Not saying it's not a shithole, but you get what you pay for.

>>1088365
two of my grandparents are still alive at 93. if I waited for inheritance I wouldn't own a home until my 60s or 70s.

>>1088365
>>1088371
>tfw 4 dead grandparents
>tfw only inherited $500
>tfw parents have no retirement and the house is only half paid off in their 60s.

They both worked full time with degrees in their field, and they waited until late 30s to have kids. The moral of this story is don't have kids.

>>1088373
my grandparents should have left a huge inheritance but there was a leech on both sides of the family who ended up sucking it dry. one of my cousins is leeching my grandmother so much that she ended up remortgaging her paid off house at 90. he lives with her and throws cocaine fueled fuck parties at her house. she has to go to the neighbors to sleep some nights. fucking pisses me off man I have to figure out a way to earn enough to buy a house if I ever want one at any reasonable age.

>>1088375
Damn bro, that sucks. Honestly, completely honestly, you might as well go to a cocaine fueled fuck party. It's happening anyways and you're already facing the negative consequences, might as well benefit.

>>1088377
my brother takes part but I want to stay away from the guy. he's a literal psychopath and is destructive as fuck. I could tell so many awful stories about him, probably the worst is a kid he and his friends bullied in high school. he was gifted and skipped 2 grades. they would make stand up against a wall while they threw rocks at him. they ended up concussing him hard enough that he got severe brain damage, and he never saw any punishment for it because there was no actual evidence even though everybody knew he was responsible.

hes like a literal movie villain, he literally fucks girls in front of our grandmother and just tells her to leave while hes fucking them, he literally says shit like what he wants for groceries while he fucks girls in front of his grandmother.

>>1088381
>he literally says shit like what he wants for groceries while he fucks girls in front of his grandmother.
If my cousin and his friends weren't all diet cola versions of this guy I would never believe you.

>>1088387
you know the scariest part about him man? its that people like him so much. the guy is fucking pure evil but he knows how to manipulate people and how to get what he wants. he totally changed my view of women too, even "nice girls" would let him walk all over them and let him humiliate them

hes clearly smart but cant do a days worth of honest work. hes dropped out of various colleges and universities like 10 times and several of those were expensive overseas courses which guess who paid for. hes almost 30. he blew the fund his parents set up for him gambling on the stock market and living in some penthouse apartment too. fuck.

>>1088395
Your best bet is to distance himself as much as you can from him, and anyone like him.

As for women, yeah, it's a pretty fucking awful realization. I had to leave Milford MA after seeing so many chill girls cheat on their bfs with the weirdest dudes because they had coke, charm, and shouted all the time. My dating life is fine in my new town but I've never regained my faith in positive relationships.

>>1088399
that's the plan, try to live a good life and more or less cut off most of my extended family. that means I really only have my parents inheritance in the end though, which means I'm on my own to buy a house and the market is insane pretty much everywhere. I'm willing to live just about anywhere that I can work in my field, but all the real jobs are in expensive cities and buying a house in those cities in a safe area is fucking brutally hard. I'm praying for a housing crash but I don't see it coming.

I can't afford to buy in Toronto. I would if I could.

>>1088192
I live in miami, where is it?
Imo, best places for mansions is either a neighborhood called the roads, are somewhere near vizcaya

>>1088180
the market hasn't crashed yet

>>1088709
it never will

I don't want to live here any longer than I absolutely have to

>>1088740
it will , great depression 2.0 is on it's way.

>>1088809
I don't see it. there are millions of people who want to buy houses and who are stuck renting. the demand for housing is not going away.

>>1088809
As long as regulation exists (government or self-imposed, idgaf) that limits incentives for banks to give sub-prime mortgages, the housing market will not crash again. Securitization of mortgages in the first place was a bad idea, but now that we're stuck with it,we need to keep it in check.

>>1088856
No, but the amount of people who can afford it is shrinking. College loans hit an entire 10-15 year stretch of the population (at least), and a time will come when that stretch are the primary home buyers. That's when prices will correct in real value (inflation adjustment). It's better to save right now, as renting in most areas costs less than insurance, property taxes, and mortgage interest. When you take maintenance into account as well it's foolish to buy in the current market, you'd save more by waiting until you can buy later at 100% down payment.

>>1088180

Establishing savings/may move across statelines in near future.

>>1088180
because i have two condos. regret buying the second one, though. association is fucking shit.

Because im in the construction side of things and know the bubble will burst soon and i will be able to pick up a nice house at a steal

>>1088898
canada?

>>1088868
Assuming you're right, the market will decline, not crash. Those are two completely different mechanisms with vastly different results on the economy.

>>1088902
No US

>>1088906
where exactly? in the chicago area prices have been pretty stable.

>>1088903
That's correct. Neither of us suggested a crash. In the current environment, however, if house prices don't keep up with inflation (which they won't in that decline) it's literally cheaper to rent for life by a long shot, and if you want to buy you can later use the 20% down payment you had at 25/30 + 150k you saved over the next 10 years to get a damn good amount down on a 15 year mortgage.

>>1088180
because my grandparents gave me mine

>>1088922
>Tfw my grandparents are getting ready to sell theirs because they retired before they should have

Feels bad, man.

>>1088908
Midwest kc area cant build them fast enough

>>1088184
prices to high in Alberta?

Maybe I read to much Garth Turner but it sounds like people are leaving the province like its Syria. Jingle mail, trucks abandoned, biker gangs, BC shitting all over you.

Prices can't be that high anymore, but have a long way to fall.

>>1088211
Checked.

Also explain the problem in this picture.

I have zero experience with woodworking. Is the wood used to thin? Is that wall going to be garbage bc it has tons of wiring drilled through its beams? help anon

Saving for downpayment; also Austin, TX is too rich for my blood especially in certain areas. Moving out towards the country would be nice but employment always seems to drag people to the city which is a drive = gas/wear&tear = money. Once having a downpayment I could buy a house twice the size of my apartment for half the amount of money per month for a 30 year mortgage if it's outside the city.

>>1088211
You do know a contractor will build a house out bricks or whatever you want. Right?

I personally want concrete steel beam with fire insulation.

>>1089089
local building ordinance might fuck you over.

Do ppl still buy houses\apartments? I fail to see how buying is a good thing. I prefer renting because of the flexibility of moving around either because i get a new job and im too annoyed to spend 2 hours in public transports or depeding if im living good or worse i move to a bigger\better conditions housing or to a smaller\not so good conditions housing.

>>1088211
This is disgusting. Are the floors that measly too? How do they hold up mobile scooters with 300lb of freedom lard on it?

>>1089096
>How do they hold up mobile scooters with 300lb of freedom lard on it?
They get people from countries with lower GDP to do it.