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Forum » How do can people afford houses nowadays?
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Thread: How do can people afford houses nowadays?

post 1539167511 12-31-2017, 11:22 PM
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#61
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Originally Posted By JackTheMiscer⏩
lol houses in canda are like $1 million+ for poverty ghetto house, and 95k a year is like a poverty in canada money
Outside of Vancouver, Toronto, and Fort McMurray to a lesser extent, real estate isn't totally crazy. I built an upgraded ~1600 sq ft house for $450k
Originally Posted By DoYouEvenNEM⏩
but that's Alberta. It's no different than Australia where guys pushing brooms all seem to make $100K/Yr because of resource money and/or union of peace. It's just a brag considering most miscers come from countries without those easy opportunities.
Not really, the median household income in my city is lower than my personal income. I was making $35k/year before graduation
post 1539167891 12-31-2017, 11:29 PM
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Originally Posted By DoYouEvenNEM⏩
but that's Alberta. It's no different than Australia where guys pushing brooms all seem to make $100K/Yr because of resource money and/or union of peace. It's just a brag considering most miscers come from countries without those easy opportunities.
In Australia people have started buying houses and renting them out straight away to use the rent payments to offset the mortgage payments.

Rentvesting, they call it. Has some tax advantages.
post 1539168681 12-31-2017, 11:47 PM
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Originally Posted By r32gojirra⏩
In Australia people have started buying houses and renting them out straight away to use the rent payments to offset the mortgage payments.

Rentvesting, they call it. Has some tax advantages.
Yeah I've been considering this. Make a net loss, but get a tax rebate for it and capital gains on the highly levered property should see you well off in several years' time.
Issue is that when everyone's doing this, at all time low interest rates, it doesn't take much for poor capital returns to kill the market by a change of sentiment. Kinda holding off in the hope this will happen...
post 1539169201 12-31-2017, 11:56 PM
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The largest house I have ever owned was about 6,000 sq ft on 3 acres and is worth right now about $2M. That house was too large. It was nice, but too large. The smallest house I have ever lived in was 2,400 sq ft on 1/4 acre and that house was too small. The current house is about 4,000 sq ft and it’s just right, but once I am done with college, the house I will build will only be about 3,000 sq ft. There were two houses along the way I almost bought. One was 32,000 sq ft for $5M and the other was 14,000 sq ft for $2M. I am glad that I didn’t buy those. They were great houses, but they were both a huge expense and a huge headache. Even splurging you can get something nice just about anywhere for $5M.
post 1539170401 01-01-2018, 12:27 AM
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Originally Posted By Iwillsavetheday⏩
The largest house I have ever owned was about 6,000 sq ft on 3 acres and is worth right now about $2M. That house was too large. It was nice, but too large. The smallest house I have ever lived in was 2,400 sq ft on 1/4 acre and that house was too small. The current house is about 4,000 sq ft and it’s just right, but once I am done with college, the house I will build will only be about 3,000 sq ft. There were two houses along the way I almost bought. One was 32,000 sq ft for $5M and the other was 14,000 sq ft for $2M. I am glad that I didn’t buy those. They were great houses, but they were both a huge expense and a huge headache. Even splurging you can get something nice just about anywhere for $5M.
Age: 21

you mean your daddy was thinking of buying a house













some people here dont understand that Toronto(gta) and Vancouver prices are ****ed up because of all the Chinese flooding the market with their black market money from china and they dont even live here, realtors sell the houses in china before even posting it here... let that sink in. they put like a 15k tax on that but lets be honest 1.3mil house for cash and 15k tax on it is like a fart in the wind.
post 1539170441 01-01-2018, 12:28 AM
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Originally Posted By Iwillsavetheday⏩
The largest house I have ever owned was about 6,000 sq ft on 3 acres and is worth right now about $2M. That house was too large. It was nice, but too large. The smallest house I have ever lived in was 2,400 sq ft on 1/4 acre and that house was too small. The current house is about 4,000 sq ft and it’s just right, but once I am done with college, the house I will build will only be about 3,000 sq ft. There were two houses along the way I almost bought. One was 32,000 sq ft for $5M and the other was 14,000 sq ft for $2M. I am glad that I didn’t buy those. They were great houses, but they were both a huge expense and a huge headache. Even splurging you can get something nice just about anywhere for $5M.
Age: 21


red

i believe alll dis
post 1539170561 01-01-2018, 12:30 AM
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#67
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Originally Posted By selffirst⏩
U S home prices are fairly reasonable, but that doesn't help you huh...
its highly dependent on which state youre in.
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RIP YGST
post 1539170751 01-01-2018, 12:37 AM
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Originally Posted By InfiniteRage⏩
Age: 21

you mean your daddy was thinking of buying a house

some people here dont understand that Toronto(gta) and Vancouver prices are ****ed up because of all the Chinese flooding the market with their black market money from china and they dont even live here, realtors sell the houses in china before even posting it here... let that sink in. they put like a 15k tax on that but lets be honest 1.3mil house for cash and 15k tax on it is like a fart in the wind.
I don't think a white man under the age of 40, if he had 110% free will (no family or career pressure), would even want to live in Vancouver or Toronto.

Give them say $10 millionand they would either emigrate out of the country or move to the Okanagan, Vancouver Island or Ontario wine country. Whistler and Banff are nice AF too.

Sure as hell no one is moving to the Prairies, the Maritimes or the Arctic (unless dat dere lovin' them Injins and Whale blubber).


Even for young (banana) Asian men Canada isn't that hot. A lot of the Asians in Canada are just too Asian and all they do all day is study at the Library and jerk off to Overwatch (boring AF).

Even that Ashin1 guy on misc (Asian guy who trolls here about his oil patch job) doesn't seem to like Canada and wants to move to Latin America.
post 1539170841 01-01-2018, 12:39 AM
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Originally Posted By Furybox⏩
Yeah I've been considering this. Make a net loss, but get a tax rebate for it and capital gains on the highly levered property should see you well off in several years' time.
Issue is that when everyone's doing this, at all time low interest rates, it doesn't take much for poor capital returns to kill the market by a change of sentiment. Kinda holding off in the hope this will happen...
I’d be very careful about hoping for capital gains depending on where you live.
post 1539170901 01-01-2018, 12:39 AM
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u mad i have over $200k in equity??? bought in socal 2011 crew


sorry brosi neverbrag about dis but its the misc
post 1539170961 01-01-2018, 12:41 AM
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#71
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Originally Posted By InfiniteRage⏩
some people here dont understand that Toronto(gta) and Vancouver prices are ****ed up because of all the Chinese flooding the market with their black market money from china and they dont even live here, realtors sell the houses in china before even posting it here... let that sink in. they put like a 15k tax on that but lets be honest 1.3mil house for cash and 15k tax on it is like a fart in the wind.
The other scam is they get 99 year mortgages (LOL wut?) come over here, buy the house with no fear of being sent back, because Canada won't extradite.

And with that who cares if you are using free money to over bid?

100k over? No problem!


Edit: since I only heard this from a fellow Asian coworker and have no sources I'll retract this, for now...
post 1539171101 01-01-2018, 12:44 AM
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#72
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Originally Posted By AlwaysFocus⏩
The other scam is they get 99 year mortgages (LOL wut?) come over here, buy the house with no fear of being sent back, because Canada won't extradite.

And with that who cares if you are using free money to over bid?

100k over? No problem!
Aware me on this scam? Are they just maxing out loans in China, cutting tail and coming to Canada which doesn't extradite them back home?
post 1539171231 01-01-2018, 12:46 AM
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#73
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Originally Posted By r32gojirra⏩
I’d be very careful about hoping for capital gains depending on where you live.
Luckily I make enough to be comfortable either way. At the moment it's more just a tradeoff between geared property, and being invested in equities. Sticking with the latter for now
post 1539171241 01-01-2018, 12:47 AM
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Originally Posted By DoYouEvenNEM⏩
Aware me on this scam? Are they just maxing out loans in China, cutting tail and coming to Canada which doesn't extradite them back home?
Tbh honest I can't find any sources atm, it was something I was awared about from an Asian brah at work. So I'll retract my statement for now.
post 1539178511 01-01-2018, 05:01 AM
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#75
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Parents money
post 1539178801 01-01-2018, 05:15 AM
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#76
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Originally Posted By rectifryer⏩
if you don't understand why putting money down in a house is a waste then you're not ready for life.
It's not as simple as that, you dumb motherfuker.
Miscing since 2006; miscing until I'm dead.
post 1539179281 01-01-2018, 05:33 AM
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#77
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Originally Posted By vulgoo⏩
Parents money
Being born Asian is easy mode in life. Not sure why everyone talks about White Privilege. Asian Privilege is 10x better.
post 1539179361 01-01-2018, 05:38 AM
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#78
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Everyone needs a jump start.

Most will probably disagree with me but if your parents owns a home were the value has significantly gone up, they can always sell and invest whatever profit they made into your home as a downpayment.

You have to also look for an area/city were its lower.
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post 1539180821 01-01-2018, 06:39 AM
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A lot comes down to area.

2 bed flat in south London would cost me 300k.

However i could buy a 3 bed house with land, in the lake district for 160k, however no jobs up there.
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post 1539181141 01-01-2018, 06:50 AM
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Originally Posted By Wh1teDyn0mite⏩
A lot comes down to area.

2 bed flat in south London would cost me 300k.

However i could buy a 3 bed house with land, in the lake district for 160k, however no jobs up there.
u renting brah?
post 1539181271 01-01-2018, 06:54 AM
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Originally Posted By Wh1teDyn0mite⏩
A lot comes down to area.

2 bed flat in south London would cost me 300k.

However i could buy a 3 bed house with land, in the lake district for 160k, however no jobs up there.
I used to live in the countryside for a long time. Homes might be cheaper but, if you live there for 40 years, then there's no difference at end. You're going to be spending so much money on gasoline. Countryside grocery stores have higher prices than city wholesale stores. I'm not sure about internet in the UK but I paid more for internet in the countryside.

So if you tally up all those extra expenses for 30 or 40 years then it's the same price as paying more to live in the city.

Maybe the countryside is only worth it if you stick to the property, hunt for meat (think Texas), can grow some of your food and you only need to see a dentist a few times a year. Still I hadn't really met anyone under 65 who wants that kind of off-the-grid lifestyle.
post 1539181351 01-01-2018, 06:56 AM
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Jealousy
post 1539182401 01-01-2018, 07:22 AM
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#83
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Some great places to buy property in US is Florida, Utah, Georgia, and Arizona.
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post 1539185141 01-01-2018, 08:29 AM
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I'll be buying my first house in the next few months, budget is $450k and putting 20% down. It's simple really, I lived well below my means for a few years, had a cheap apartment with a roommate, and I was able to save $1,000-1,500 a month. The problem is people in their 20's who are just starting to make real money for the first time in their lives don't want to live below their means.
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post 1539185871 01-01-2018, 08:46 AM
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Gotta pass the 2nd grade first ,bucko
You like D&D, Audrey Hepburn, Fangoria, Harry Houdini, and croquet. You can’t swim, you can’t dance, and you don’t know karate. Face it. You’re never gonna make it.
post 1539185971 01-01-2018, 08:48 AM
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#86
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Lol it's called saving money. Stop buying iPhones and brand new cars, you'll be surprised how rapidly you accumulate wealth this way.
post 1539186291 01-01-2018, 08:56 AM
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Originally Posted By Fuqdatass⏩
Live somewhere where the cost of living isn't retarded?
Winrar.

Most of Canada and the US are affordable.

Just move away from the overpopulated liberal cesspools and you'll be fine.
Misc Entrepreneur Crew
post 1539227221 01-01-2018, 05:35 PM
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This
post 1539227811 01-01-2018, 05:44 PM
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Originally Posted By MidnightSun⏩
It's not as simple as that, you dumb motherfuker.
LOL explain to me how compound interest is different when applied to house rather than a continued return on investment. You've literally never considered the fact that the interest rates on houses right now are just over the inflation rate. Conservative investments return 6 % a year, yet here you are claiming the smart thing to do is to put your money into something that's charging you 3%. Who's the dumbass now?

Putting your money into a house when you can put it into NEARLY ANY other financial product is what's dumb. This isn't the 50s anymore.Down payments are for the security of lenders, not borrowers. Just LOL at you and your arrogance.

edit: age 35 LMAO
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post 1539228511 01-01-2018, 05:53 PM
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Originally Posted By DoYouEvenNEM⏩
Forgetting that he also has oil patch money / employment.Huge cope and delusion but most MISCers know there's of undiagnosed disorders and ill people posting on Misc all day. He also thinks moving to Nicaragua, where he will be mistaken for a rich Chinese millionaire in an area with the world's highest crime rates, is a good idea.

One technically only has one life and that guy has been spending like years in a oil field with a lot of carcinogens, ******* and trashy and racist rednecks everywhere.
trying to accuse me of cope but you open your post with a massive one. LMAO
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