>>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.
>>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.
>>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
>>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
>>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.
>>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.
>>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.
>>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.
>>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.
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.
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.
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