Terrible financial decisions

>spending time on 4chan

>>990217
>being hypocritical

Do people seriously believe in renting forever? Do they support Donald Trump too?

>>990217
>>990222
That's not hypocritical tho, it really is a waste of time desu

>>990222
It's true though

>>990230

Why are you still here?

whats wrong with buying a house?

>>990237
>Why are you still here?

Why are you?

>>990227
What are you a kuck? Don't you want to make America white again?

>owning a 200k-300k house and buying a 100k car

>>990227
>>990239
Depends on the market.

If you live in the USA Northeast, pretty much anywhere in the UK, or most major Canadian/Australian cities, the cost of a house versus the environmental maintenance and high taxes make homeownership pointless.

>>990239
It's a sound investment that offers stability to your family's future. Why pay a 20-30 year mortgage when you can rent for the rest of your life?

>>990227
>>990239
>>990251
The fact that you're pretty much tied to the home(more difficult to move), houses can be overvalued and drop in value, maintenance costs, property taxes, interest on mortgage and you might just not need such a big home if you're living by yourself or with a gf/wife.

Renting is much more efficient.

>>990258
Yea but what if you want to "settle down" and tend to live in same household for 30+ years...

>>990249
To expand on this: maintenance costs, legally mandatory home insurance, property taxes, and interest on an 80% loan add up to roughly the average rent cost.

You're better off renting and not tying yourself down to a home in these areas so you don't get fucked by natural disasters.

>inb4 "insurance"
Insurance companies didn't do shit when Katrina hit because they refuse to lose money. If your entire county gets fucked they'll find a way to avoid paying you.

>>990263
Great, but that all goes out the window if you can get something affordable enough to be mortgage free.

>>990261
>Yea but what if you want to "settle down" and tend to live in same household for 30+ years...

Well then it is a good idea.

But for the vast majority of people right now it is not.

Yes it's true that rent is "throwing money away", but so is property tax and interest on mortgage.

>>990258
>The fact that you're pretty much tied to the home(more difficult to move)
This is a con because why? You buy a home because you want to stay in the area & can afford to do so.
>houses can be overvalued
Your fault for not researching a major purchase.
>maintenance costs, property taxes, interest on mortgage
Once the mortgage is paid off you have a very low monthly fee for insurance/taxes. Maintenance is also relatively low if you were smart enough to purchase a new home or at least inspect the pipes/wiring. Depending on your income & down payment the cost of a house can wind up a fraction of what you pay to rent. Not accounting for city growth resulting in higher renting rates fucking over the rentees while you pay fixed rates.(hello Portland,OR)
>and you might just not need
And you might like owning your home.

>>990267
And in those areas you cannot.

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>>990274
>That feel when you make 80k and can't afford a new home in your area.

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>>990274
>This is a con because why? You buy a home because you want to stay in the area & can afford to do so.

When you're <35 years old you might want to move around and be a bit more mobile, try out different places, work in different countries/cities, you know.

>Your fault for not researching a major purchase.

In some countries, namely Canada and Australia homes ALL homes are so incredibly overvalued it's not worth it.

>Once the mortgage is paid off you have a very low monthly fee for insurance/taxes. Maintenance is also relatively low if you were smart enough to purchase a new home or at least inspect the pipes/wiring. Depending on your income & down payment the cost of a house can wind up a fraction of what you pay to rent. Not accounting for city growth resulting in higher renting rates fucking over the rentees while you pay fixed rates.(hello Portland,OR)

Only in some cities, in Canada it is not.

>And you might like owning your home.

Why would I like that? In an apartment I can just leave when the lease is finished whenever I want to.

Pic related, some homes in Vancouver. Look at prices

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>>990274
>>990285
a few more pics of homes in vancouver.

Look at how shit of a house it is and for how much it costs.

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>>990274
>>990285
>>990287
Is it worth it to buy any of these houses in your opinion? LMAO

They look like shitshacks

>>990275
Didn't see the earlier post about NE.
West Coast here.

>>990285
>>990287
>>990288
Huh, MA isn't so bad.

Boomers are obsessed with McMansions, while Millennials don't care about houses. They don't place value in home ownership and they like moving frequently

>>990287
How the fuck did that happen?

Britbong btw

>>990289
S'cool man. Putting 4chan on my PC's block list today though, I spend way too much time shitting on here.

Go for a walk in nature sometime, hope you have a good life bro.

>>990237
They never said that they didn't waste time.

>>990287
>>990288
>>990285

top lel kek

You could literally buy most of those houses for under 100k usd in my state, with most of them being ~50k usd. A couple of them might get up to ~150k usd

>>990281
>tfw you have a degree and earn a decent living but can't afford a house when dropouts and other degenerates you know have been given houses by their family members

why do I have to work so fucking much just to live?

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>>990290
>>990292
How did this happen you ask?

We have Rich Chinese buying up all our homes in Vancouver, and they don't even come to live here. They will literally buy homes $200,000 over asking price and our dumb ass government doesn't mind "eh who cares if young canadians cannot compete to buy 1500sq homes for millions".

It is fucking absurd

I've really wanted to become a millionaire and find a nice lower-middle class white area and just bring a shitload of businesses there (that appeal to middle and upper-middle class) so there's a bunch of money coming in without bringing in undesirables.

And then use plots of land I purchased when the land was cheap to build neighborhoods on the upswing of the resulting housing bubble.

>>990258
THERE ARE DIFFERENT SIZES OF HOUSES.
Okay, there. I feel better.

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>>990285
>>990287
>>990288
>When you're <35 years old you might want to
26 & I've been all around the world, I do not like to move. But yes, you're right. You don't buy a home if you're some faggot who needs to move every six months. That would be a bad investment.

>In some countries, namely Canada and Australia homes ALL homes are so incredibly overvalued it's not worth it.
Judging by your images I'd argue that you just suck shit at shopping around.

>Only in some cities, in Canada it is not.
Depends on the area, there's always potential for growth.

>Why would I like that?
Because I like to own my things. A house I own becomes an asset.


You cherry picked the fuck out of your examples, I wouldn't take any of them. Pic related is the first thing that popped up for me on google.

>>990222
Not everything that fires a neuron in your head is "hypocritical" or "ironic"

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>>990299
Canadabro here is a $2.9m home where I live.
10k square feet. And it's the middle of a housing bubble here, too. There's a home on sale for 2m that was bought at $700k three years ago.

>>990299

It's funny how it's illegal for foreigners to do this in Mexico, Russia, most South American countries, and most Arab countries, but the US, UK, and Canada just let them fuck their shit up like it's no big deal

>>990306
>You cherry picked the fuck out of your examples, I wouldn't take any of them. Pic related is the first thing that popped up for me on google.

I didn't cherry pick at all.

Look at the main page of real estate listings, they're ALL around that price.

Also you fucking idiot... YOU SEARCHED VANCOUVER WASHINGTON
>VANCOUVER
>WASHINGTON

I AM TALKING ABOUT VANCOUVER, BRITISH COLUMBIA IN CANADA

DUMB ASS NIGGER.

Literally search "Vancouver BC real estate" and you will see I didn't cherrypick a single thing.

>>990314
>YOU SEARCHED VANCOUVER WASHINGTON
lol'd my pants off

>>990314
>I AM TALKING ABOUT VANCOUVER, BRITISH COLUMBIA IN CANADA
My bad, I'll concede. Canada's Vancouver is just a shitty place to live. If you were smart you would neither rent nor buy in the area, you would just leave.

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>>990215
Buying a house if very different thing in usa than in europe, property taxes etc. are completely different.

It's time to lock the mortgage atm as you will get pretty good offer for 30 years. WIth a floating rate you will be on your way to poorhouse.

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>>990263

>mfw off of lake ontario for 30 years and nothing has ever happened here

>>990285
>>990287
>>990288
>disgusting little keksheds going for above 1 million dollars

Who the fuck is retarded enough to buy these?

>>990215
>>buying a house
I was going to buy a cheap condo for a 2nd home rather than pay $1500 rent per month.

Cost was $120,000

Mortgage repayment was around $600pm which made it seem like a no-brainer.
Then there was a $300m HOA
Then there was about $200pm property tax
General maintenance... nfi what that'd be
Insurance etc.
Then what... NFI can't remember, did my best to forget I ever thought about it.
Not to mention the 20% deposit needed - $24,000

Rent $1500 vs Own for about the same

Rent was so much easier - I give someone money, they deal with everything or else get sued.

There are definitely SOME instances where buying makes sense, but also some where renting makes more sense.

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>>990287
>>990288

>>990274
>houses can be overvalued
>Your fault for not researching a major purchase

I agree with the other guy. I've done research, and found that every house within 30 miles of where I live is overvalued. They are also almost all shitty mcmansions or disgusting town homes. So I will continue to rent until the next big economic collapse and then consider buying a house at a discount.

Currently what I pay in rent is less than what I would pay in pmi, insurance, taxes and interest, not to mention maintenance.

>>990349
>>990355
>>disgusting little keksheds going for above 1 million dollars

Look at all the pictures my friends.

Look at the one going FOR $16 MILLION
>Literally looks like 1-2 million house in any other part of the world

>>990353
>>990356
This.

Renting is just SO convenient, especially when it's cheaper monthly it's just a no brainer.

>Don't need to clean entire house
>Don't need to cut grass
>Don't need to replace fridge, washing machines etc when they break
>All maintenance is done by king cukkold
>Throwing out the trash is a walk down the hallway
>No property taxes
>not tied down to a piece of shit house

Literally don't give a shit about anything, you're just living in your cozy fortress and if something bad happens? Oh well I'll just give my super a call. Oh something worse happens? Ok i paid off my lease CYA

>>990215
when you are young you should buy a very very cheap house, even if you don't live in it and rent it out, while living at home with mom and dad or just going to school while getting a degree.
Once you are ready to move forward, hopefully in mid 20s you will be able to sell that house and grab whatever money is in it to start a new life wherever your new job is. Or simply pull the equity out of it after a few years and invest that money somewhere else and just let the house go to shit.
Pretty much the younger you are and the cheapest house you can find is your best bet. people fuck up when they work just to pay their mortgage and car payment because they want a $1m house and 2 $50k cars. and then say fuck owning a house because im so stupid i out stretched my budget and i can't go anywhere because im stuck paying this mortgage on a house that i bought for 1 million but now is worth 800k.....

Real estate is long term and can be usefull if leveraged right and at the right time.

Renting is putting the snooze button on being homeless.

>>990285
>>990287
>>990288
This would be where you buy a plot of land and build on it. No lumber in the world costs a million dollars. 200k would get you a nice house you can then sell for a million.

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>>990215
>not buying a house before youre 25
>not getting married

its like you wanna be poor

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>>990215
>>990263
>>990268

My condo as an example to compare rent vs. own:

Rent: $2350-2650/mo (we'll go with $2500 to keep it simple)
My monthly liabilities as owner: $2535/mo

Breakdown:
Mortgage (30y): $1700/mo ($550p, $1150i)
Taxes: $300/mo
COA Dues: $500/mo (fml why did I buy a condo??)
Insurance: $35/mo

Tax Writeoff: $1450/mo
Tax Bracket: 33%
Writeoff Benefit: $475/mo

Monthly Net from Ownership: ($2535) + $475 + $550 = ($1510)
Monthly Net from Rental: ($2500)
Ownership/Rental Expense ratio: .60

Maintenance will have to exceed an annual average of $12,300 for renting to cost less.
The longer you own the property, the more money is applied to principal.

>but what about lost gains on your 20% down payment?
For every 10% you would make investing that 20% down payment, the value of your home would need to increase 2% to break even.

Your rent can increase every year! Similar percentage increases in taxes (unlikely and partially subsidized by writeoff), COA dues (more likely), and insurance (unlikely) has a much lower financial impact.

>>990306
>You cherry picked the fuck out of your examples

No these are normal house prices in Canada, the only place with cheap houses are small towns with no job prospects

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>>990372
>Don't need to clean entire house
can buy a condo
>Don't need to cut grass
can buy a condo
>Don't need to replace fridge, washing machines etc when they break
maintenance cost built into rent
>All maintenance is done by king cukkold
maintenance cost built into rent
>Throwing out the trash is a walk down the hallway
can buy a condo
>No property taxes
property taxes built into rent
>not tied down to a piece of shit house
don't buy a piece of shit or in a bad location, but yes, this is the only true reason to rent.

so you don't want a house, got it, but you can buy a condo instead of renting an apartment; your aversion to any form a responsibility doesn't justify renting over owning. All your so-called savings are built into the rent.

What don't you rental idiots understand?
NOTHING IS FREE - you pay for it anyway

>>990453
and your rent isn't tax deductible; taxes, mortgage interest, and even some maintenance costs are tax deductible.

>>990239
Nothing.
If you buy right.

If you buy wrong you won't see appreciation for a decade.

>>990453
>you can buy a condo instead of renting an apartment; your aversion to any form a responsibility doesn't justify renting over owning. All your so-called savings are built into the rent.

And pay absurd costs for a bunch of faggots cutting the grass?

Renting is much cheaper, at least in Canada.

>>990463
>obsessed with cutting grass
My condo has no grass. No one is getting paid to cut grass. You can still own without paying someone to cut grass you imbecile.

>>990263
>I won't buy a house because of volcanos

Enjoy your mobile home

>>990215
Anyone who think renting is better than owning really doesn't truly understand how much of a cunt I am as a landlord.
If you think you'll ever get mercy from me you're retarded- every single renter is prey.
Make your choice, hunter or hunted.

>>990468
shut up faggot.

It's obvious you're a real estate agent specializing in condos or you owe a bunch of new condos so you want people to buy them for preposterous prices.

>>990470
>cries about cutting grass
>calls others faggots

No, I just own my condo (about to put it on market) and know what units like mine in my building rent for. Choose not to believe me and throw away your canadian pesos, I don't care.

>>990215
Buying and renting are usually around the same ballpark price. The only difference is that with one you are paying for someone else's equity.

>>990291

So how do I exploit my fellow non-home owning millennials for profit when they hit their 50's and realize they have nothing to their name because they've thrown away all their money in rent?

Also the argument with taxes, insurance and maintainece is bull shit because the landlords already factored those costs in your rent.

>>990478
>Choose not to believe me and throw away your canadian pesos, I don't care.

Too bad I pay $400/rent a month and shove all my extra money into VFV.

MUCH better than playing the "le owning a home" game like a goy.

>>990482
>when they hit their 50's and realize they have nothing to their name because they've thrown away all their money in rent?

But all the money I save goes into ETFs rather than paying a ridiculous mortgage on a $2million 1500sq shack.

idk what country you guys are from but in Canada buying a home is just plain retarded and impossible unless you're a multimillionaire. Even then it's way overvalued and the bubble will burst anytime now.

>>990485
you're truly winning at life. Can we get some pics of this $400/mo abode?

>>990481
Also there is no easy leveraged money as a renter.

Video related: how landlords view renters.
http://youtu.be/3NFyFgdi_Iw

>>990489
>But all the money I save goes into ETFs

As a landlord, I'll make sure my rent increases are equal to your ETF gains.

>>990554
>As a landlord, I'll make sure my rent increases are equal to your ETF gains.

Well I won't rent from faggots :^)

>Tfw fully furnished house with nice things in good area only $400/month renting with a few bros

feels good man.

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>>990261
if i wanted to live in the same household for 30+ years I'd live with my parents

>>990589
this

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>>990482
>when they hit their 50's and realize they have nothing to their name
as opposed to owning pic related, a big lump of MDF glued together with the cum of a thousand illegals

>>990558
wow, sounds like the life, paying $400 a month to someone else to live. How did you ever think of that?
That person you are paying $400 bucks to is really missing out i bet.

>>990599
You're right why buy
Just keep renting

>>990602
>wow, sounds like the life, paying $400 a month to someone else to live. How did you ever think of that?

It's a lot cheaper than I would be paying a mortgage.

Do you think interest on mortgage and property taxes isn't paying the bank in order to live?

>>990554

Nice banter :^)

>>990215
Jesus Christ I thought /biz/ was actually intelligent.

Sure, in the near term, owning vs buying is a toss up, but in the long term (5+ years), owning will be cheaper because renting is subject to inflation adjustment while mortgages are not.

>>990609
you just about always pay to live.

You pay $400 now until the owner of the house that is currently keking you sells the house and the new owners either A. Kick you out.
or B. Raise the rent.
Then you go off and then get Keked by another landlord... or you can go back home and live with mommy and daddy.

it may be cheaper than a mortgage, but in the long run it pays off, and if you know how to leverage your house at the right time you can use the equity in other investments.

You wouldn't understand that, most renters don't. then you get to about 40 and say shit, i have fucking nothing but my car my computer and some clothes... huurr duurr what happend to all my money.. and all the landlords that you have been renting from are now worth a fortune because you simply go to work, cash in your pay check and hand most of that pay to them.

good luck in the future buddy. one day it'll hit you that you have been putting money in another persons pocket your whole life when you could've been putting it in your own

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God damn your all semi-retarded. All of you.

Whether buying or renting wins out depends on the location and how long you're going to stay.

>>990616
>because you simply go to work, cash in your pay check and hand most of that pay to them.

My $400 rent is last than 1/15th of my monthly after-tax pay.

And as I said in this thread, houses are EXTREMELY overvalued in Canada. I'm not going to take a $1million+ mortgage out on a piece of shit house.

>>990620
>God damn your all semi-retarded. All of you.
>God damn your all semi-retarded. All of
>God damn your all semi-retarded. All
>God damn your all semi-retarded.
>God damn your all
>God damn your
>your

Wow great argument fagtron you sure convinced me with those hot opinion.

>>990613
yes, alot of /biz/ is 18 year olds that got some DIS stock from mommy and daddy and think that renting is the best thing ever.
they don't understand rent increases
they don't understand that taxes are planned far in advanced to tack onto rent.
They don't understand that they are actually paying someone elses mortgage.
They are pretty much 18 year olds that have no clue about how shit works.

>>990491
>Mfw my friend only pays $400 AUD/mo because he lives in community housing he essentially 'inherited' from his mum.

3 bedroom house with a carport, fucking good deal for him.

>>990629
>yes, alot of /biz/ is 18 year olds that got some DIS stock from mommy and daddy and think that renting is the best thing ever

And you're one of them.

You fell for the "rent is paying someone's mortgage" meme and you unironically believe it lmao.

>>990623
buy the house yourself have your "buddys" pay the same they are now.

I don't konw the canadian market though.. so no argument there. Im in the u.s. and it's only common fucking sense to get a fucking fixed interest mortgage on a house and put someone in it and tack on an extra $200 ontop of mortgage that some schmuck and his friends rent it out from you thinking they are getting ahead. then after every year you increase the rent 5-10%

but im not in canada.. U.S. is getting close to being overvalued at the moment, but rent will follow with prices the house's in the area are being sold at

>>990637
>I don't konw the canadian market though.. so no argument there. Im in the u.s

Ok well if you don't then stop talking shit.

Scroll up in this thread and look at my other posts.

Houses made of literal shit are going for $800k+ at the very minimum. Every single house in an area that isn't shit with no jobs is at least ~1 000 000. Every single one.

>>990636
my parents aren't into investing.so i never received stock from them nor can i talk to them about stocks. im 25 and bought my first house at 20 and now i have over 300k in assets when just starting with buying a simple fucking house. it just makes me laugh when i go to rent to a 40 year old that has just about nothing and are always struggling to get by because they never had the balls to make a big purchase.

>>990642
you just sound like a cry baby.

>>990649
>you just sound like a cry baby.

Because I don't want to buy terrible houses for at least a million?

You just admitted you didn't know anything about the Canadian market and when I asked you to scroll up and look at the pictures of the prices and how the houses look here you call me a cry baby. Solid argument.

>>990655
become real estate agent, sell those houses, get commission.
im guessing you have a wage slave job and have a couple thousand saved up in stocks and spend most your time drinking smoking weed and playing video games with your "buddys"

>>990657
>become real estate agent, sell those houses, get commission

What does that have to do with the fact that buying a house is not worth it here?

>im guessing you have a wage slave job and have a couple thousand saved up in stocks and spend most your time drinking smoking weed and playing video games with your "buddys"

Incorrect but how is that relevant once again? You're unable to argue your position clearly.

>>990647
>>990657
Also how did you manage to buy a house at 20 years old while still in school?

Sucking daddy's dick to give you some money?

>>990661
>20 years old while still in school

my dad is a general contractor so i've been working construction since i was 16, i went on home school to work full time and graduate highschool at 17. i kept working and saving knowing i didn't want to be in the same position as my parents. I just turned 25 a few days ago and i just barely started college.... unlike most of my friends in my neighborhood i would work all the time and while they went to college i would go wage slave in the sun to make money.
now that im older and just now starting school they are all graduating with a shit ton of student debt and i have built a good chunk of wealth

So tell me again what your pathetic little fucking excuse is? is that you? you went to school instead of earning money and putting your money to work?
that must be why we can't relate because while you went to school on mommy and daddys money i busted my fucking ass in construction with all the mexicans while they had a family to support i didn't and saved my money and bought a piece of shit house to fix up with my knowledge of construction

so please... tell me... What the fuck is your excuse????

>>990673
>So tell me again what your pathetic little fucking excuse is? is that you? you went to school instead of earning money and putting your money to work?
>that must be why we can't relate because while you went to school on mommy and daddys money

But I don't have an excuse.

I make ~$60k/yr after taxes right now and pay $400/month rent to live with chill bros. I don't have any complaints here.

>>990677
one day you will.... sometimes you have to make short term sacrifices for long term gains.

when burger flippers start making 60k a year and buying a house in a neighborhood you are renting in... you will feel great about yourself.

>>990677
Too bad your bros weren't chill enough to be able to buy the house and let you go in with them on it. You'd be paying the same amount but building equity. I'd say that's pretty unchill that you and your bros are hooking your landlord up like that.

while i understand renting may be cheaper in the short run, is it not more cost-effective in the long-run to own, provided you don't buy a dramatically overvalued home?

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>>990685
>>990686
*yawn* Stay mad mortgage payers.

Hurry up the bank wants the payment by the end of the week! Oh you haven't slept much at all this month? Well that's too bad, I know it must be expensive to have to shell out the money for that new refrigerator, washer AND dryer but the bank needs its money!

Oh I'm sorry, you don't like that area and want to move away? That's really too bad, you need to take care of your responsibilities first and then you can try to put the house up for sale and hope someone buys it for the overvalued price. Don't worry though, mortgagecuks, I'll take a few pictures of the nice beaches and ocean for you while I'm on monthly vacation next week!

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Having a gf/wife

>>990635
>community housing
so subsidized? go play outside with your socialism, grownups are talking

>>990695
you do realize you are paying the landlord and you will never see that money again?
you do realize that paying the bank for your house is going toward equity that you can pull out?

you do realize that if you want to move away you buy a house somewhere else and sell the house you are in to put toward your new one?
You do realize that that you are a rentcuk that is getting cuked by the landlord?

Oh and i go on vacation ALLL the time.. like i said before, i worked my ass off while i was young... now i vacation about every other weekend... in 2 days i will be on a cruize down to mexico.. i can't even explain how good it feels to ALWAYS go on vacation and never have to worry about missing a payment because the wage slave renters are out there paying my mortgage... stay low class my friend, with out people like you, i don't make money.

>>990711
>I'm too dumb to get free things

lmao. Seems like he out-played the system

>>990695
Funny made up story but that's not my situation at all.
>bought condo in 2008 when the market was low
>put 3.5% down on FHA mortgage
>paid $2200/ month after taxes and HOA
>decided to open buy another house 2 years later since business was doing well
>rent out first condo for $2000/month
>spend literally $100 on maintenance the 5 years she was there since condo was brand new and she was a single banking executive
>lose $2400/year and $12,000 after 5 years while renting it out but get in back by far in equity
>sell condo this year and make $120,000 profit
>dump the money into a vanguard index fund
>profit?
>profit!

>>990713
>you do realize that paying the bank for your house is going toward equity that you can pull out?

You do realize that you're going to be paying 3x the cost of the house over its lifetime in most cases?

>now i vacation about every other weekend... in 2 days i will be on a cruize down to mexico.. i can't even explain how good it feels to ALWAYS go on vacation and never have to worry about missing a payment

NEET roleplayer detected.

I though you were just now in college? How are you vacationing every other week when you have lectures and assignments? LMAO

>>990720
>You do realize that you're going to be paying 3x the cost of the house over its lifetime in most cases?

You do realize the TENANTS are the ones paying that?

>I though you were just now in college? How are you vacationing every other week when you have lectures and assignments? LMAO

i only take two classes.. they land on Tuesdays and thursdays... i still work but maybe 20 hours a week.. i make most of my money from my rentals.

pretty much my life is cake and everyone else is sitting around complaining about student loans.

i planned the tuesdays and thursday classes because of how much me and my g/f go on vacation.

>>990729
nah you're a NEET

Show proof you're not lying because i have caught you in multiple lies tbqh

>>990713
the math is like this

if we assume housing to have some arbitrary value, then renting is useful when it costs less. Can you find a good apartment for the cost of a good house? Assume "good" to mean "subjectively equal" to avoid the unrelated argument. The asset purchase and associated debt can be weighed against each other. That's where the argument is for the most part. Houses have a lot of liability and they are subject to dunning-kruger effect.

Real Estate accounts for 13% of GDP, if you have a higher percentage of your net worth committed, you are overweight on RE and will underperform on your gains.

Also
http://www.seattletimes.com/seattle-news/owners-worry-moldy-condos-are-unsellable-8212-and-unlivable/

>>990713
Hey turd: Why does ExxonMobil lease its office space? Why don't they own it outright? ExxonMobil paying all that rent.

That's the question they didn't teach you to answer in real estate classes?

>>990746
Uhhh they iz dumb i think... wait shit let me consult my real estate agent cheatsheet to find the answer... drat it's not in here!

Lmao this guy is so obviously either a NEET or real estate agent who needs to shill the fucking out of buying houses to make his pitiful commission.

>>990731
>nah you're a NEET

that is why i am going to college.. to get an education. you're right, i am not that educated when it comes to useless shit.. but i know real estate like the back of my hand. i barely passed highschool, i spent my teenage years working and all the way up until about last year i actually felt comfortable going back to school. im in basic ass classes. Im worth over $300k sitting next to some 20 year that has electronic music blaring in their head phones that only complain about shit while their mommy and daddy pay for their college.... when i was 20, school was never on my mind, only the money.

>i have caught you in multiple lies tbqh

like what?


speaking of school i have a test in 30 min that i gotta go take.

>>990759
>i spent my teenage years working and all the way up until about last year i actually felt comfortable going back to school. im in basic ass classes. Im worth over $300k sitting next to some 20 year that has electronic music blaring in their head phones that only complain about shit while their mommy and daddy pay for their college.... when i was 20, school was never on my mind, only the money.

Wow that's really something to be proud of. Working like a dumb Mexican through your best years... I'm sure you'll really be proud of that when you're old and withered lmao

>>990764
Im already happy with it.
worth over 300k.. NO DEBT all my propertys are paid off now! have a hot ass girlfriend(she will be on playboy morning show in the morning, yes tommarow morning) by the time im 30 i will be well over a million dollars, never working, so yes i am happy i busted my ass while i had the youth to do so.
so keep on being a wage slave, and paying your rent to people like me :) i will only be getting richer while working less.

>>990775
That's ok I don't mind. I have plenty to go around.

Thanks for the cheap rent and always taking care of maintenance for me!

>>990602
>$400 rent
I fucking wish, I don't even live in a city and my shabby place is $1,100.

Condos around here are going for 180k and houses are 300k in shitty neighborhoods and still need repairs.

East/Central MA, not even once.

>>990746
ExxonMovlbil may lease its corporate office space for tax outs.
Most of their service station sites they owned however. So a larger percentage of their holdings were owned not leased.
Shell use the same model.

Anything else you'd like to know?

ITT the biggest buyer's remorse you could possibly have

enjoy your shotgun shack in fucking west virginia

>>990835
>ITT the biggest buyer's remorse you could possibly have

This lmao.

You can just feel the heat from the mortgagecukks about "m-muh paying someone else's mortgage!"

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>>990844
>>990835
sour grapes

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>be me
>berkeley comp sci grad
>buy house in SJ California for 400k 7 years ago @ 25
>spend 50k remodeling
>be me now @ 32
>collect rent on SJ house
>pays mortgage of SJ house
>pays part of mortgage on my current house

fucking rentc.ucks

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>marrying chads sloppy seconds

>>990873
>Not sucking the creampie out of your wife regularly

smdh

>>990248
This
>Drive through semi-crap neighborhood
>Guy drives into driveway of 1-story ~$70k house
>Driving a Lexus

Only a faggot would buy a house at the peak of a market bubble. If you get a home at a 7% return rate or higher a year (cash) or 16% (if 20% mortgage) then it'll appreciate with the market and you'll be making nearly the same as the stock market avg over 20 years. Plus you don't pay taxes on the appreciation just rent it till you die. This is in regard to socal realty not the east coast or other regions where most tenants will take your home and leave you with debt.

>>990890
you can a 5 year old lexus equivalent of a s class or 7 series for 2Xk.....

lexus are extremely reliable cars.

>Work for a renowned local home-builder.

>Can build at 40-50 a square foot depending on how nice I want a home.

>Can buy land for 1-3K an acre.


>Apparently I shouldn't buy a house because renting is so much easier and I'll obviously always have access to such a deal.


Fuck all ya'll I'ma buy me 50 acres and put a comfy farmhouse on it.

>>990908
>Has rare circumstance
>Thinks the rule is dumb because it doesn't apply to exceptions

lol ok

>>990916
>>990916

That's the point, the rules are situational and depend entirely on local market conditions.
What the company who I sell for can sell for 125-135 a square foot would run upwards of 300+ a square foot on the East/West coasts.


Telling someone to "lmao 420 rent it faggot" without knowing the local market conditions is apocalyptically stupid.

It would behoove a young professional who lives in a flyover state, just outside of a burgeoning metropolitan area, to buy.

It would be ridiculous for that same professional to buy a house in fucking Cali/NYC/Texas/Vancouver, as those markets are at the height of bubbles.

tl;dr:

As in everything, do your own due diligence and don't listen to a bunch of neckbearded babbies on the internet (who may or may not know local market conditions).

- t.builder pro.

>>990890

I drive a Lexus with 256k miles. Changed the starter, alternator, timing belt, water pump, batt, p/s rack, p/s pump, radiator...

Drives great. You wouldn't think its 23 years old.

>>990299
Jesus fucking christ is the housing market fucked up everywhere on Earth?

This is the state of affairs here too, but at least I understand it. I live in the Bay Area, where you can't throw a rock without hitting someone who makes 250k and the cities refuse to build high rises, so obviously home prices are skyrocketing. But Vancouver too?

Why is it that everywhere I look house prices are ridiculous?

>>990215

True. It's a psychological thing for most folks.

You can end the whole house vs. rent debate by making the acute observation that just about everyone will buy a bigger place than they will rent - in regards to square footage.

All of those "buy a house to save $$$" arguments are now moot. Own a home, ya better get used to spending a significant amount of time & money on maintenance (i.e. home depot erry weekend). Time that could be spent working another job, creating a new business, or increasing your skillsets (certifications or school).

All of that extra "non-house" money should beee sent into the market (index for long time horizon) which destroys housing returns every time.

>>990938
Dumbest post on this whole thread by far.

>>990945
I appreciate your counter arguments.

>Buying entry level supercar
Seriously, maybe if you are new to them, go and buy the highest most expensive car they have for sale, because that will make you money, look at McLaren F1, F40, Ford-GT, Porsche CGT, all most expensive in their line up, all worth much more then when they first came out.

Why can't you guys buying LaFerraris and P1s?

>>990937
Here it's because of dirty Chinese money.

It's blatantly being laundered and invested by people WHO DON'T EVEN LIVE HERE lmao

>>990938
>Home depot every weekend

wat. No. Just no. I have two houses, $160K and $55K. My dad stays in the $55K, no charge. The sum of all of the maintenance and improvements for both homes for 5 years is less than 15K, and the value of the homes has increased more than $25K from the improvements alone. The market is also picking up in my area, so the market price has improved. I'm looking at a 100% return on investment of the smaller home, even adjusted for inflation (was a foreclosure), and a more modest 15-20% on the larger home. Not to mention I haven't paid rent, and because money is so cheap to borrow, the interest is next to nothing.

>>990953
"Exception to the Rule"/10

>>990958
How is this the exception? This is literally the story I've seen over and over again. Even my parents, who weren't looking to buy for profit, sold their shit for a 20% return or so. Yeah they had to replace a roof, but that's not that expensive. We had to do yard work, but you have to do that if you rent a house, so I don't think that counts.

>>990938

You realise maintenance costs are factored into any rent? it like you think landlords lose money on renters lol.

>>990953
where the hell do you have houses for that low?

>>990946
>by making the acute observation that just about everyone will buy a bigger place than they will rent - in regards to square footage.
This is where you fucked up. You pulled this bit of information from your ass. Even if it was true it doesn't necessarily equate to a higher monthly payment. Regardless, when people consider buying a house they factor costs like maintenance, taxes,etc. Real estate on average has not only beat inflation but shown good ROI over time. Your mortgage payments however, aren't affected by inflation so diminish the longer you have the house. When you add that to the actual equity you build you will come out ahead barring an emergency situation where you default on your loan. The tiny bit of money you MIGHT save by renting even if reinvested in aggressive portfolios will never be able to compensate for the equity you can build from owning a home (which you can tap into anytime you need to).

>>990966
East Tennessee and SWVA. Both houses are 2K finished square feet. The higher one has a bigger, more private lot (1.5ac) and an unfinished garage. Better location too.

>>990960
You are living in bumfuck nowhere if houses in your market are going for 55k.

Replacing a roof alone in the NE USA can easily run 8k+.

It sounds like your dad is living rent free (alone?) in 1 of your houses. If so, how much does rent cost for a 1 bedroom in your area of the country?

A foreclosure auction on a 55k home = you probably made out like a bandit = exception to the rule.

>>990976
Rents are pretty low for a 1BR. $500/month or so. I make $92K as well. Works out pretty well.

The appraised value on the $55K is now ~$120K. I got really lucky with it, no doubt. However, the bigger house was a more typical deal. It was on the regular market for less than a month, and we paid slightly more than full asking price with closing costs covered. It's appraised at ~$180K. We put new rooves on both houses. Because of the pitch, the cheaper house was $3300 and the bigger somewhere around $5K (don't remember exactly). They're both metal, which is desirable in this area and are warrantied for quite a while (20 or more years). I did a remodel in part of the smaller house for 7500, the appraisal difference was ~20K after the remodel.

>>990789
ive done construction my whole life, it cost me 5 bucks for a drywall patch, 10 min, and i take 50 out of security deposit.

>Thanks for the cheap rent

thanks for going and being a wage slave for me while i enjoy my life collecting the money you earn.

>tfw you have less than 75K USD on your mortgage and your condo is worth roughly 325K
Never going to sell though. Might borrow against it to buy a second place and let renters fund my retirement.

>>990215
LOOK AT ALL THESE FUCKING YOUTUBE CHANNELS BEING MAde to sell gold BULLION!

https://www.youtube.com/channel/UCsuY_v9tceWY27M-6fxI5SA/videos

https://www.youtube.com/channel/UCwA8PV6c0sc9D4lLGUSAFsg/videos

https://www.youtube.com/channel/UCQoIcy1Sd3J_BopCXtdIQbA/videos

https://www.youtube.com/channel/UCynputKKCiyVJOKxSsXTUwA/videos

https://www.youtube.com/channel/UCrhOLQRoqVgVqhHFm9V5MXw/videos

Bitcoin goes up gold goes down ITS A FUCKING CONSPIRACY

Videos being uploaded per hour minutes apart wtf is going on why do they wanna sell gold so badly?

For those in this thread who are pro-buy, can even a single one of you explain what happened to home-owners during the financial crisis in 2008?

It's funny, the majority of millennials weren't old enough to understand what was going on, so they really have no opinion on this except "house value can only go up and up and up!" which is really ironic considering the financial crisis was literally only 7 years ago.

By all means, buy. I'm glad I have a decent job and it doesn't matter if I buy a house on the margin or invest in other investment vehicles on the margin.

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>>991083
>It's funny, the majority of millennials weren't old enough to understand what was going on, so they really have no opinion on this except "house value can only go up and up and up!" which is really ironic considering the financial crisis was literally only 7 years ago

Keep this in mind whenever reading any posts on this board.

Pic related.

And there's also a ton of underage fags on this board because of "im 18 help me choose major /biz/" is obvious.

>>991083
Of course house values can drop temporarily. The stock market does that too.

However, take a look at the ROI of real estate in general. It's damn good, just like the stock market is damn good.

>>990937
Bay Area has the problem of environmentalists and the California Coastal Commission.

Fremont is still cheap if you don't mind the oil refinery.

>>991092
This. ROI on real estate has been stable for at least a century (as long as we have been keeping data). It's funny to me that anyone would think those who advocate buying a home would be a millennial when it's mostly older people who are more likely to buy. It's OK, you guys are too young to remember that the main goal of any hardworking American in the 70s, 80s, and 90s was to become a homeowner. Then they don't realize that even after the housing bubble burst during the financial crisis, property investment is STILL the main hedge against inflation in the US as it outperforms gold and other commodities. I'm guessing because the renters in this thread are SO OLD (kek a few posters already admitted to sharing rent with buddies) that maybe they just were in a coma for the last 40 years. Yes, that must be it.

>>991092

So you really don't know what happened during the financial crisis. Kind of unhappy I was right because it just means I'm living with idiots

>>991083
Loans were made to people that couldn't afford them. Debtors were stupid enough to think if the bank let them go forward they could actually afford it. A lot of the loans were made with ridiculously risky teaser rates.

The fed raised rates. Over and over and over until a mortgage payment of $700/mo went to over $1200/mo as an example.

While this was going on firms like goldman were packaging these bogus loans as investment grade and selling them off while simultaneously betting against them. Eventually, as the whole thing imploded, home values dropped thru the floor and people were forced to sell at a loss since their loan was higher than the value of the home or be foreclosed on.

It happened to someone in my family actually.

The bankers got bailed out and so did a select few dummies who took the loans to begin with. Then they started printing insane amounts of money to blow the bubble back up that is our so called 'free market' (rigged) economy.

>>991136
Yes, a lot of people are stupid. That still doesn't excuse you being a dick for no reason.

>>991136
Have nothing to contribute here thy hasn't already been said. Just wanted to snort at you.
>snort
Bye.

>>991167
I'm a dick because you see people like
>>991117
>>991092

Who are so stupid they actually compare an asset backed investment on a loan against just investing in the market. I literally even gave them a hint by saying "buying on the margin" but they pulled the classic 4chan maneuver where when they encounter a word they don't know they just ignore it and hope it isn't important (instead of just googling it).

Then you get guys like this >>991188 who probably can't even follow the conversation who think their wikipedia-educated financial theory is so great coming in and jesus christ you can smell his neckbeard from here.
>b-b-but I did learn economics at the local community college
will be his response I bet

And yes your analysis was right>>991167; for everyone who thinks buying a house on the margin is better than investing in the stock market on the margin, compare being homeless and in debt to simply losing your investment. One is a little (a lot) worse than the other for literally no extra gain.

But then again I doubt they people responding to me know what interest rates are let alone comparing investments

>>990485
>>990635
>wanting to pay rent forever

>>991224
I understand where you're coming from. I feel the same way to some extent.

Let's be honest - in most of middle america buying a home B'sTFO of renting. Unless you're in NY, Austin, Boston etc. Especially if you're smart and walk into it with 30-40% down. Over the long run, you're going to be in ballpark of what said investments would have returned. Arguably better off considering the next few years aren't going to be fantastic for the markets.

All I'm saying is naive doesn't = stupid. You catch more flies with honey than you do with vinegar type deal.

If you've got some knowledge on a subject why not share it. Otherwise what's the point? Just to vent?

>>991224
Just leave this board & 4chan man.

These retards are pointless to explain anything to.

Over 50% of this board is unemployed, the people you're arguing with in all likelyhood are either in community college, NEET or underaged.

>flatmate and I pay 300gbp monthly for rent
>the same standard of flat would require monthly mortgage payments of 900gbp for the next 25 years kek
>working as a part time bartender earning 10gbp an hour.
>doing such a good job manager recommends me to other bars and i get more work offers.
>now work 4 nights a week at 2 different bars
>realise i could probably just drop out of uni, work full time as a bartender and still live a comfy life.

Its times like these where I cant find the motivation to revise for fucking exams and bust my ass off finding shitty ass internships when working one friday nightshift brings me 80quid plus tips and the occasional MILF. sure, compared to the rest of /biz/ who all seem to be bringing in 250K plus yearly wont be impressed but im content with decent pay, banging waitresses and milfs and doing what makes me happy. Coupled with cheap ass fuck rent and hobbies that are also dirt cheap I'm saving quite a bit of cashish.

>>990215
>buying shit that can be pirated
>only investing in property because "investing in stocks is like gambling!"
Btw where do you guys think this meme came from? The one about stock market and gambling

>>991087
Most millennials are boomers on steroids. They're literally repeating hte same mistakes their parents did. The difference is the outcome will be severe.

>>991343
>compared to the rest of /biz/ who all seem to be bringing in 250K plus yearly
They're lying. Most /biz/ users are unemployed. The ones who are employed work similar jobs like yours. Occasionally we get a guy making that much but he is always working long hours. Go to /sci/ its injueerssss making 100k working 30 hours a week. 4chan teaches you how to bullshit at an expert level.

>>990249
>>990263

I live in Melbourne, Australia, and have a succesful startup. I made over $2m last year, and looking similar this year, but things are definitely on a downtrend.

After tax i'll have abotu $2m AUD, do you think it's worthwhile for me to spend half of that on a (little) house, and invest the rest?

>>991343
nice blog mate

>>991477
Can you even purchase a 100km radius of melbourne that's not 900k or more?

Get a studio apartment, or a 1brm apartment. Rent it out if you ever move. I think they hold value and maybe they still sell quite easily.

>>991494
thanks, i twas my first one in a long time

>>990660
Speaking Mandarin is a must.

>>990309
you cracked the 4chan code
now all the highschool kids can go to sleep or fag off

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>>990299

We have the same problem in Miami. The Brazilians will buy every unit in a highrise before they even start building it.

>>990436

>For every 10% you would make investing that 20% down payment, the value of your home would need to increase 2% to break even

You are comparing leveraged and non-leveraged returns. If you leveraged the stock returns 5 to 1 as well you would get a 10% return on housing versus a 50% return on stocks.

>>990729
>You do realize the TENANTS are the ones paying that?

This.
This
Thi
Th
T

>>990482

The boomers have nothing to show for a life's work but home equity in a house in the boonies that they cant find a greater fool to buy.

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>>990616
>then you get to about 40 and say shit, i have fucking nothing but my car my computer and some clothes

This whole shit can be easily summed up:

>Do you live where the housing market is fucked?
Rent
>Do you live where the housing market is not fucked?
Buy

I laugh at these threads because its NEETs or college students arguing about things they don't know what they're talking about. The people that say buy are often Americans. Even though their housing market is propped up by Chinese, oil camel, and Russian money. Literally that's the reason why you fuckers have a cheap housing market. When you take it away the whole housing market become more expensive than fucking England. This is the only right answer in this thread. >>991608. Most people that advocate for rent are not Americans. Its really expensive to buy housing in the developed world.

>>991640
Pajeet you should always buy you obv dont understand simple logic

>>991645
>you should always buy
Buying a house is not a wise investment in certain areas. This why I linked this post >>991608. Its literally the only correct post in this thread. Everyone else is just dick waving opinions.

>>991640
Nigga wut? Out housing market is propped, but the thing is its already TOO high, houses arent worth as much as heir selling for, the prices wont just go up tho..

>>990602

Add a zero to that and you are approaching a 2 bedroom rent in downtown Chicago. Rent around here is easily double to triple the mortgage price for the same place.

My friend is currently mortgaging a parking spot (you read that right) Want to guess what that 1 parking spot cost? $140,000,

Marinia city in Chicago, you have 3 costs. The condo, the parking spot, and a boat slip. Those boat slips themselves are 500,000. You dont HAVE to attach one to your mortgage, but without it, you just cut future purchasers in 1/4 as everyone who looks at a condo there wants both 2 parking spots and a boat slip

You would be talking about monthly rent in the neighborhood of 30,000+ per month on a place you could mortgage for 10-12,000 a month

>>991702
Housing market in the US is overheated but they're cheap compare to other advanced economies. That's what I meant. I should have been clear, so that's my fault.

>>991709
id love to live in chicago but its ridiculously crazy expensive there

>>991608
But what determines the fuckedness of the property?
Now I'm from mumbai and property rates are so damn high. Fuck mumbai, thane (city just near mumbai) has exorbitant rates too. And they're probably not gonna fall, never have in all these years.

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>>991640
>>991696
senpai noticed me.

>>990285
if all homes are overvalued none of them is

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>>991732
That's up to you to decide, anon. I follow this guideline:

>Not fucked
Cost of an average home is the average worker's salary * 5 or less

>Fucked
Cost of an average home is the average worker's salary * 10 or more

In between is the sweet spot where it's not shitty enough to leave everyone and everything you know, but it's shitty enough to hate it. I call it the Russia effect.

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>>990299
all those houses are like 2500 feet square minimum mansion

>>991739
Heh a 1400 sq ft flat costs 16,000,000 rupees
Max starting salary of fresh average graduate is 800,000 rupees

>>990258
You can sell the house basically whenever. These costs add up to what? 50% max? You're still getting 100k out of a 200k house, while with rent you get 0.

>>991758
Yep, that's fucked. Rent forever.

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>all these NEETs
>all these memes
>all this shitposting
I thought /biz/ was supposed to be a quality board.

>>991779

You can tell from all his posts where he's projecting that he's in his early 20's and has never owned real estate in his life. Hell he probably just bought his first car two or three years ago. Even though living with your 'bros' is cool, eventually or usually I should say seeing this is 4chan - you grow up and get real. Plus only someone inexperienced would assume that just because the real estate market where they live may be shit that it applies across the board.

Its just. Blog post inc. My wife and I own two homes. Bought the first one as a foreclosure cash. Put a few grand into it and shortly thereafter saved up and put a decent 40% down payment on a second. Now we rent the first which pays most of our mortgage on the second.

Still enough to fully fund our retirement accounts, an ESA - just in case, emergency fund and general screw around money (vacations here and there or w/e).

We sat down and tried both the academic approach and the basic 4th grade math approach on paper. If you can add, subtract, multiply and divide it doesn't take a rocket scientist to figure out buying is your best bet in most locations.

Dollar for dollar, factoring taxes, repairs, mortgage interest and fees vs the difference between rent/owning, expected or average ROI of the cash put into the homes if it were put elsewhere at that time projected outward 5, 10, 20 and 30 years. We were ahead on every single one with a multiplying effect the further we went out.

To anyone insisting buying is stupid remember, the next time you send your rent check to someone like me, you're paying for my wife and I to enjoy life and not worry about a mortgage. You're paying for the repairs on the very place you live that you could own. You're paying for property taxes also. Only one of us gets the benefit of having consistent monthly income and any appreciation of that property by literally sitting on our ass. Protip: It's not you.

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>>990589
Great pic for that comment

>>990217
Damn senpai you got me

>>990292
Honestly, because boomers convinced themselves that housing everywhere goes up all the time no matter the neighbourhood, economy, demographic shifts, or changes to the local economy.

>>990627
no your a hot onion ;)

>>991744
I call these museums, since they never look lived in.

>choosing to increase your personal liabilities and risk exposure
>investing capital and income in a non-diversified and non-liquid asset
>paying an interest rate to the bank that will almost always be higher than inflation
>betting on house prices only ever going up

The only way this makes sense is if you need the stability i.e. you are raising a family or want to work in the same area forever.

I want maximum flexibility and minimum liability so renting makes the most sense.

>>993354
>I want maximum flexibility and minimum liability and i want to pay money to my jew landlord so renting makes the most sense.

>>990258
>being at the mercy of rent increases (which are crazy right now)
>guaranteed no return on your money
>no interest tax deduction
>no security, renting you can get displaced at any time
>real estate appreciates long-term
>if you do want to move, you can rent the place out and actual earn income from it

>>993437
Why would you pay for a house you won't live in because you're moving around? You're one of those buy high sell low retards. If you're moving jobs constantly or work for the federal government then a house is not a great investment. Even if you rent it out the cost is not worth it.

>>993454
>If you're moving jobs constantly or work for the federal government

fucking kek. Sure if you are a min wage worker or i wagecuuuuck i get it

>>993437
>I want to get into debt and pay money to my jew bank instead
>my $200k house actually cost me $400k because i don't understand how interest works. But it's worth $250k now!

>>993458
>my $200k house actually cost me $400k because i don't understand how interest works. But it's worth $250k now!

>he doesnt know that interest rates are like 3% max fixed over 30 years

max cûucckk

>>990249
This.

It's always about the market. A lot of people on here are hitting it on the head. If you do your due diligence and pay attention to the market you're in, you can make money.

But you can definitely get burned if you're not paying attention. So it can be a good thing to acknowledge personal limitations.

>>993460
3% over 30 years is still $100k in interest.

Ignoring inflation, you have agreed to pay 50% extra on the market value. Then add tax, fees, insurance etc.

Look up how much of the capital loan you've paid back after the first 3 years and how much interest you've paid to the bank. The cost of renting for 3 years is not much more than the cost of borrowing money. So renting makes sense over the short term.

But if you plan on living in the same location until retirement then at the end of 30 years you own your house and have no further expense. So borrowing money to buy makes sense over the long term. Equity builds quickly over the last few years of the loan.

Buying a single residential property is not a great financial decision unless you need the stability over long periods. And are prepared to accept the high costs and medium-high risks compared to other asset classes.

>>993460
Wrong, a lot of people pay 4-5%. You'd be surprised...

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>>992222
quads acknowledged

>>993518

3% over 30 years is still $100k in interest.

Nothing stops you for paying it back in 10-15 years.

We must assume that taxes, fees and insurance is also something you pay indirectly, when you rent so no need to look at it.

So we have a loan of 3% rent a on nominal debt. It will get easier and easier for you to pay it back when your wage increase and you also get the house appriciation. If you live in a place where house prices increase more than inflation (for decades) its a nobrainer, buy if you can get that interest rate.

Well for me it was a nobrainer but ofc you shouldnt buy a house if you live in Hongcouver
>>993523
well dont pay 4-5% then :^)

>THANK YOU BASED AIRBNB FOR MAKING 3 MORTGAGE PAYMENTS A MONTH FOR ME!

buying a condo was the best investment decision I ever made

>>993580
Lol are you me? I charge people $100 a night to sleep in my bed :^) Average is 6 nigths a month

>>990239
Rip off depending on where you buy and more importantly when you buy. This is a terrible time to buy, at least in the US

>>993581
>Lol are you me? I charge people $100 a night to sleep in my bed :^) Average is 6 nigths a month

>Tfw i have to PAY women $100 a night to sleep in my bed with me

Renting: Pay $500 per month for 30 years
Buying: Pay $500 per month for 30 years and at the end you get a house

Why would anyone ever rent?

>>993607
>Buying: Pay $500 per month

$500? What are you financing, a tool shed?

>>993607

They want to move around every 5 years.

The way I figure it, my family has lived in the same 4 counties for the last 170 years. Chances are pretty fuckin good I wont be moving in the next 20

>>993607
>renting: pay $500 per month

$500? What are you living in, a tool shed?

>>993607
More like:

>Rent: Pay $1,100 per month for 30 years.
>Buy: Pay $1,600 per month for 30 years and at the end you own a house, but you also put down roughly 50k in maintenance.

Depends on your area, mate. If your rent is above 1% of the cost of an acceptable home in your area, and you have the down payment, then buy. If it that's not the case, rent.

>>993609

http://www.realtor.com/realestateandhomes-detail/28-Walnut-St_Savanna_IL_61074_M86748-55975

With a 5k down payment my mortgage, property tax, and insurance would be around 390 a month

>>993614
This. Except your rent goes up. My uncle has lived in the same home for 25 years and pays about $700/month mortgage, the same payment when he first finance it. If he were to rent the same home it would be around $1500-$1700 due to inflation.

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>>993614
huge generalisations, most likely the housing prices will drop radically in western world next 10 years

>>990244
B8 0/10

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>pay the amout of money for a house, and have no house
>pay the amout of money for a house, and have a house

Renting is for young kids on the go and stupid people, people are litterly living off of your living, which is smarter. Its obvious

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>>993616
Literally where??

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>>993602
>>Tfw i have to PAY women $100 a night to sleep in my bed with me

well i dont sleep in the bed while they are renting it :^)

>>993634
Go to the realtor link. Savannah Illinois

>>993637

Laughing my fucking ass off.

Savannah Illinois is a population of 2945.

More people went to my highschool. More than 7x went to my college.

Not a great example der.

>>993622
That would be so if the world population hadn't doubled in the last 47 years. We're running out of space fast, anon. There's no such thing as global warming or real estate bubbles, those are just side effects of having 2 billion too many people.

>>993657

You are 40 minutes to Clinton Iowa, 2ish hours to Chicago. I wasnt even going cheap. I could show you 8k houses in Chicago where my mortgage would be <20 dollars a month.

If you want the middle of nowhere I can show you acreage in a place like Kentucky or Wyoming for <1000 an acre.

Savanna is a nice little middle ground, and semi close to my heart

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>>993664
we aren't running out of space before we have 100 billion people on the planet. it's only a problem when people are seeking to live in large cities only. but that will change too.

pic related: computer model showing current world population packed in grand canyon

>>990215
I just want a place for myself to live in, it's not an investment for me, it's just a need.

>>993607

You also get the mortgage interest deduction.

It is also lot more pleasant living in a place where other people own their homes - they have a stake in the neighborhood being a place they want to live, and are much more willing to take care of it.

>Not understanding equity
>Not buying a 140k 2bedroom condo, putting 5% down
>not paying $900 mortgage
>charging roommate $1050

Chicago btw

Enjoy your sunk cost rent plebs

>>993671
>It's not an issue if people even space out.
But they won't. They'll continue to flock to the same general areas, and prices will continue to climb.

>>993671
I'd be interested to see this modelling.
There was a study done some years ago stating the entire planets population could live in Texas at a density of NYC.
However, it was pulled apart by academics showing it was full of flaws like unpassable, unfixable road networks, persistent toxins and VOC's behaving erratically due to anthropological causes, even food spoilage was an issue.
The fact is not one country has yet got land usage correct, some are better than others but all have problems which impact wealth generation.