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Forum » Billionaire: "Now is the best time to buy a house"
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Thread: Billionaire: "Now is the best time to buy a house"

post 1693611453 11-19-2023, 12:02 PM
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#31
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Originally Posted By Godfrd824⏩
Where do you live?
Wyoming

min wage here is 7/hr
post 1693611523 11-19-2023, 12:02 PM
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#32
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Originally Posted By apo99⏩
most people forget that houses are leveraged products,

you invest 100k in a index fund and it goes up 10% ur up 10k

U buy a 500k home with 100k down and it goes up 10% ur up 100k
You can also buy an index fund on Margin, or with Derivatives.

But the thing is, rental property also pays a Divident, which you don't reallt get from Index funds.

Real Estate is a much better longterm investment than Stocks. But you have to have skill.
post 1693611673 11-19-2023, 12:05 PM
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#33
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Originally Posted By apo99⏩
most people forget that houses are leveraged products,

you invest 100k in a index fund and it goes up 10% ur up 10k

U buy a 500k home with 100k down and it goes up 10% ur up 100k
You're up 50k.

Also, despite what many people on the misc think, real estate can go down, and stay down for decades. Especially in certain regions like Detroit.
post 1693611943 11-19-2023, 12:08 PM
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#34
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Originally Posted By Zere0wn⏩
what was the zillow estimate in like 2021? they show the price history i think. just curious. seems like a good example.
$600k before reno.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1693612053 11-19-2023, 12:10 PM
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#35
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Originally Posted By Zere0wn⏩
what about 2008? took nearly 10 years for those homes to get back to 2008 price.
does the value of the house really make a difference when you can rent it out to rentcels for the next 30 years then live an aditional 30 years rent free?
Forever alone? Attraction and keeping the girl chasing you - http://forum.obnoxiousbrutes.com/showthread.php?t=131498033

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post 1693612063 11-19-2023, 12:10 PM
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#36
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Originally Posted By Zere0wn⏩
you don't understand opportunity cost lol.

If you can predict the future as some think they can, then buying in 2008 was unequivocally bad idea, because of opportunity cost. you don't understand the meaning if you think otherwise.

a general index fund smashed the return of real estate from 2008 through 2018 or so. any idiot can invest in an index fund.
A house allows you to double dip. You can live in it and it will appreciate. Or you can rent it and it will appreciate. Can't do that with an index fund.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1693612263 11-19-2023, 12:15 PM
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#37
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Originally Posted By Godfrd824⏩
A house allows you to double dip. You can live in it and it will appreciate. Or you can rent it and it will appreciate. Can't fo that with an index fund.
Considering the expenses of a Primary Residence, it's quite silly to consider one an investment(especially right now).

Most people buying houses right now would be lucky to rent for 50% of their expenses.
post 1693612313 11-19-2023, 12:16 PM
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Post deleted by user
post 1693612563 11-19-2023, 12:20 PM
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#39
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Originally Posted By Zelensky⏩
Lol again, your argument fails immediately as you not only don't understand opportunity cost, you also can't dispute my point that those who sold/lost their homes and had to buy in later at even higher prices lost out nor can you show the rate of return for the stock market for an average person's investments would have made them more than just staying in their home and enjoying the price appreciation (since the stock market is not a roof over your head and rentals cost money).

I know you didn't even think about that though so I'll leave you with this L and some gentle encouragement to think for yourself instead of just parroting the stale takes you picked up on reddit's investing subs. Cheers
dude, i appreciate you trying but you have no idea what you're talking about and im not here to educate you. good luck.
My ALT is elevated. 75.
post 1693612623 11-19-2023, 12:21 PM
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#40
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Originally Posted By apo99⏩
most people forget that houses are leveraged products,

you invest 100k in a index fund and it goes up 10% ur up 10k

U buy a 500k home with 100k down and it goes up 10% ur up 100k
what if the house goes down 30% along with your other 10 properties you levered up on at market highs?
My ALT is elevated. 75.
post 1693612673 11-19-2023, 12:22 PM
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#41
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Originally Posted By OliverHeldens⏩
Considering the expenses of a Primary Residence, it's quite silly to consider one an investment(especially right now).

Most people buying houses right now would be lucky to rent for 50% of their expenses.
What expenses? Maybe I'm missing something because all in I can still rent a property for 150% of what the mortgage, insurance, maintenance, HOA, etc is. I'm making money while the house is paid by a rentcel and it's also appreciating to the tune of about 12.5% a year.
Originally Posted By Anachron⏩
Fuark, you can't live in your portfolio?

Mind = blown.
You can. It's called investing the difference.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1693612723 11-19-2023, 12:23 PM
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#42
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Originally Posted By Godfrd824⏩
$600k before reno.
nice, so you're effectively offering around 2021 early 2022 levels, which is a good bit lower than now.
My ALT is elevated. 75.
post 1693612753 11-19-2023, 12:24 PM
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#43
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Originally Posted By Anachron⏩
If the cashflow stays the same, it's moot.
What if it doesn't?
post 1693612813 11-19-2023, 12:25 PM
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#44
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Originally Posted By pondus_levo⏩
does the value of the house really make a difference when you can rent it out to rentcels for the next 30 years then live an aditional 30 years rent free?
yes, it absolutely does. see: opportunity cost

of course this assumes you know what the real estate market will do, which as i've stated i don't think is easily predictable (or maybe at all)..
My ALT is elevated. 75.
post 1693612843 11-19-2023, 12:26 PM
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#45
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Originally Posted By Godfrd824⏩
A house allows you to double dip. You can live in it and it will appreciate. Or you can rent it and it will appreciate. Can't do that with an index fund.
or you can live it and it goes down, while other investments go up
My ALT is elevated. 75.
post 1693612993 11-19-2023, 12:28 PM
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#46
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Originally Posted By OliverHeldens⏩
Considering the expenses of a Primary Residence, it's quite silly to consider one an investment(especially right now).

Most people buying houses right now would be lucky to rent for 50% of their expenses.
i agree with this, i think you're negative cashflow right now if you buy a house on and rent it out. haven't went and done the math but with these prices and interest rates and what renters can afford...
My ALT is elevated. 75.
post 1693613053 11-19-2023, 12:28 PM
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#47
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Originally Posted By Zere0wn⏩
or you can live it and it goes down, while other investments go up
That doesn't happen unless the whole city is going down in flames. I don't live in Detroit or Camden, so things will continue to go up.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1693613163 11-19-2023, 12:30 PM
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#48
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Originally Posted By Zere0wn⏩
what about opportunity cost? You could have put that money to work somewhere else and then bought the same house 10 years later for the same price.
What about the rent money that you lost during that time

What about the tax write offs you missed out on

What about the fact that in many areas it bounced back in less than 10 years

Yes, I’m sure all you rentcels “invest the difference” ;]
post 1693613203 11-19-2023, 12:31 PM
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#49
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Originally Posted By Anachron⏩
If the cashflow stays the same, it's moot.
great but rent generally goes down when the housing market crashes (not as far down though).

plus you're now years underwater when something as simple as an interest bearing savings account would have immediately positive returns. your leveraged portfolio will skyrocket up later vs the savings account, but if you know that housing is going down then it's obviously the wrong choice.
My ALT is elevated. 75.
post 1693613243 11-19-2023, 12:32 PM
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#50
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Coincel
Florida crew (lol at coldcels)
post 1693613343 11-19-2023, 12:33 PM
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#51
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Originally Posted By Godfrd824⏩
That doesn't happen unless the whole city is going down in flames. I don't live in Detroit or Camden, so things will continue to go up.
what do you mean? housing went way down in 2008
My ALT is elevated. 75.
post 1693613413 11-19-2023, 12:34 PM
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#52
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Originally Posted By Anachron⏩
It's OK, brah, I am not trying to convince you.

The world can always use more "financially savvy" rentards.
i don't rent. keep learning and you'll figure this stuff out, you have potential.
My ALT is elevated. 75.
post 1693613603 11-19-2023, 12:38 PM
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#53
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Originally Posted By Anachron⏩
I am not the one spouting BS pulled out of one's ass in this thread.

That's you.
i like how you gave up because you couldn't refute what i was saying.

im amazed at how dumb some people are with so much confidence in their positions
My ALT is elevated. 75.
post 1693613723 11-19-2023, 12:41 PM
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#54
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Originally Posted By Zere0wn⏩
i don't rent. keep learning and you'll figure this stuff out, you have potential.
Right right right. The rare non-rentcel, rentcel thread

;]
post 1693613783 11-19-2023, 12:41 PM
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#55
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Originally Posted By Anachron⏩
Nah, I just don't feel like arguing with someone who is financially retarded.

As I said, I am not here to convince you, you're free to be rentarded.
reading comprehension: 0.

I don't rent, idiot. going on ignore since you're just trolling now that you lost the debate.
My ALT is elevated. 75.
post 1693613903 11-19-2023, 12:44 PM
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I kinda agree but think prices will get better in the next year or 2. Blackrock is trying to buy up all family houses. Also wants to rezone a bunch for apartment complexes. Fuk blackrock.
post 1693613923 11-19-2023, 12:45 PM
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#57
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If I keep renting, it would be $1800/mo. This is the max I pay, maintenance workers solve all my problems, but I have to deal with noisy sensitive neighbors above/below/around me.

With 8% interest rates though, the PITI would be $3000+/mo for most homes assuming 20% down. This is the least I pay, all maintenance and what not is on me at that point.

It's a little difficult to accept paying $1200/mo extra a month, knowing that $1600/mo is going towards interest, and solely $1k/mo is hitting the principal. It's essentially like trying to answer the question: "Is it worth it to spend $1200/mo more to be a home owner, where only $1k/mo is actually going to the equity?"
post 1693614043 11-19-2023, 12:47 PM
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Originally Posted By Visel⏩
If I keep renting, it would be $1800/mo. This is the max I pay, maintenance workers solve all my problems, but I have to deal with noisy sensitive neighbors above/below/around me.

With 8% interest rates though, the PITI would be $3000+/mo for most homes assuming 20% down. This is the least I pay, all maintenance and what not is on me at that point.

It's a little difficult to accept paying $1200/mo extra a month, knowing that $1600/mo is going towards interest, and solely $1k/mo is hitting the principal. It's essentially like trying to answer the question: "Is it worth it to spend $1200/mo more to be a home owner, where the interest payments take up $1600/mo total?"
"housing is always a good investment no matter what direction home prices go" people are too dumb to get this. They can't even comprehend opportunity cost of cash let alone opportunity cost of time, stress levels, etc.
My ALT is elevated. 75.
post 1693614133 11-19-2023, 12:49 PM
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Originally Posted By bsrkoacar2⏩
I kinda agree but think prices will get better in the next year or 2. Blackrock is trying to buy up all family houses. Also wants to rezone a bunch for apartment complexes. Fuk blackrock.
Blackrock definitely is not trying to buy up all single family houses. In fact total hedge fund house buying accounted for less than 1% of all single family houses sold this year
post 1693614153 11-19-2023, 12:49 PM
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Originally Posted By Zere0wn⏩
what do you mean? housing went way down in 2008
Did it? Because if we look at any house in any desirable area, it looks like things have just gone up and up.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
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