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Forum » I locked in at 2 percent bro it’s ok
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Thread: I locked in at 2 percent bro it’s ok

post 1670554423 11-03-2022, 07:20 AM
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#61
  1. Polaris
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Originally Posted By rectifryer⏩
I have plenty, and they're widely available to anyone. I'm curious as to how TF you can come to any other conclusion understanding this.

In fact...lets see what data you can provide....
You're the one originally making claims so...the burden of proof is on you.
post 1670554463 11-03-2022, 07:21 AM
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Originally Posted By rectifryer⏩
This is interesting. I find it REALLY HARD TO BELIEVE anything you're saying if you're not aware.

If you can look it up "by zip" then you can look it up by other parameters.....like deltas...

which is why its so retarded to ask for a source when you would clearly have source for the data if your were tied to decision making.
Im looking at my own data. Ill give an example of a house that I am renting in REAL TIME.

Market value is $650k
Mortgage plus payment on that property is ~$5k if you were to buy today assuming 7% interest rate and taxes and fees included.
The rent I charge on that property is $3400. Its a win win since I bought that property years ago for $180k.


While yes the cost to rent that property vs buy is less, it isnt half. And admittedly the numbers look like this since Austin has skyrocketed within the last 2 years. So Im just curious to see what city has the data support your statement is all.

I am providing real data.
post 1670554513 11-03-2022, 07:21 AM
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#63
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Originally Posted By Anachron⏩
Why would I need to provide sources foryourclaims?
Are you admitting you never make claims?
Boycott foodservice industry crew
post 1670554553 11-03-2022, 07:22 AM
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#64
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Originally Posted By donblaximus⏩
Im looking at my own data. Ill give an example of a house that I am renting in REAL TIME.

Market value is $650k
Mortgage plus payment on that property is ~$5k if you were to buy today assuming 7% interest rate.
The rent I charge on that property is $3400. Its a win win since I bought that property years ago for $180k.


While yes the cost to rent that property vs buy is less, it isnt half. And admittedly the numbers look like this since Austin has skyrocketed within the last 2 years. So Im just curious to see what city has the data support your statement is all.

I am providing real data.
Well I mean if you want to forecast with a single data point then go ahead
Boycott foodservice industry crew
post 1670554573 11-03-2022, 07:23 AM
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Still waiting for the data to show where rent is half of a mortgage. Inb4 he shows a studio apartment compared to a 1.2m house.
post 1670554593 11-03-2022, 07:23 AM
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Originally Posted By rectifryer⏩
Are you admitting you never make claims?
Is this real life? Uhh if he made claims then it would be logical that we could ask him to back up those claims with data?
post 1670554663 11-03-2022, 07:24 AM
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Originally Posted By rectifryer⏩
Well I mean if you want to forecast with a single data point then go ahead
I have several others in my portfolio none of which are half rent of mortgage.
And I am not forecasting....I am looking at data to date. On your statement, you weren't forecasting either.
post 1670554673 11-03-2022, 07:24 AM
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#68
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Originally Posted By TsarChasm⏩
Still waiting for the data to show where rent is half of a mortgage. Inb4 he shows a studio apartment compared to a 1.2m house.
step one: calculate mortgage payment

step two: look at rents in area
Boycott foodservice industry crew
post 1670554773 11-03-2022, 07:26 AM
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#69
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Originally Posted By donblaximus⏩
I have several others in my portfolio none of which are half rent of mortgage.
And I am not forecasting....I am looking at data to date. On your statement, you weren't forecasting either.
I'm not forecasting, but the value in the discussion is one of leading indicators based off a model of what is happening. The model is in contention....

you wouldn't expect a leading indicator to be homogenous....which is another reason that asking for data is an obvious way to further cherry pick discussion when all individuals would other wise have access to data themselves to provide a contrary take readily in the first place.

inb4 another anachron classic like "rents not a leading indicator" after he already died on that hill...
Boycott foodservice industry crew
post 1670554783 11-03-2022, 07:27 AM
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#70
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Originally Posted By rectifryer⏩
step one: calculate mortgage payment

step two: look at rents in area
It really seems like you have 0 data (and what you're saying isn't even remotely true where I live).
post 1670554813 11-03-2022, 07:27 AM
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Rent is "cheaper" in most US cities than buying.


This ignores quality of housing. I've yet to see a sf and yard space comparison costs that support renting.
Ol' 71st street. The devil that birthed me.

606 G0D.
post 1670554853 11-03-2022, 07:28 AM
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#72
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Originally Posted By HayZues
Rent is "cheaper" in most US cities than buying.


This ignores quality of housing.I've yet to see a sf and yard space comparison costs that support renting.
Because it doesn't exist.
post 1670554873 11-03-2022, 07:29 AM
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Originally Posted By TsarChasm⏩
Still waiting for the data to show where rent is half of a mortgage. Inb4 he shows a studio apartment compared to a 1.2m house.
How about a studio apartment compared to ANY house in the same zip code not a 7 figure house.
post 1670554923 11-03-2022, 07:30 AM
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#74
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Originally Posted By HayZues
Rent is "cheaper" in most US cities than buying.


This ignores quality of housing. I've yet to see a sf and yard space comparison costs that support renting.
This(your post) ignores the quality of investing in NON real estate.
post 1670554943 11-03-2022, 07:30 AM
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Originally Posted By rectifryer⏩
only problem in that pic is there should be two different houses. The fact that it's spelled out so clearly for you yet you still don't understand is alarming



Nope. Rent is decreasing. Rent is half of what a mortgage costs here...
If rentals are half its because they are piles of crap. Compare a 3k sq ft house, nice build, land, room to move vs an 800 sq foot apartment with your neighbor banging on the wall because you are loud. Lol at living like a hobo just because you coping.

I bet rentcels just eat like a can of chili every night because its cheaper than a steak.
post 1670554973 11-03-2022, 07:31 AM
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lets go through a thought experiment:

What's the monthly payment on a 500k house right now?

interest rate 7.5%....
Boycott foodservice industry crew
post 1670555133 11-03-2022, 07:34 AM
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I'm charging much less rent than a person would be spending on a new mortgage if they bought my house today mainly because I'm passing on the savings from my lower rate, which is locked in at 1.69% until 2026 versus the 5.xx% current rate.

If someone bought the house today with rates where they are, they'd be spending $800/month more just on the higher financing costs. I had the capacity to take on that debt when rates are lower, now I can help someone else benefit in this tougher rate environment.
post 1670555183 11-03-2022, 07:34 AM
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#78
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Originally Posted By rectifryer⏩
lets go through a thought experiment:

What's the monthly payment on a 500k house right now?

interest rate 7.5%....
Have you not been getting your wage inflation raises or something?
post 1670555213 11-03-2022, 07:35 AM
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#79
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Originally Posted By rectifryer⏩
I'm not forecasting, but the value in the discussion is one of leading indicators based off a model of what is happening. The model is in contention....

you wouldn't expect a leading indicator to be homogenous....which is another reason that asking for data is an obvious way to further cherry pick discussion when all individuals would other wise have access to data themselves to provide a contrary take readily in the first place.

inb4 another anachron classic like "rents not a leading indicator" after he already died on that hill...
I am aligned. I think people would like to see your "model" so we can understand how you came to the conclusion is all.
I would assume if the "model" followed the current trend.....I would just have to raise rent prices again. If I didnt raise rents in the last few years, then yes i could be close to half of "current" mortgage however I raised them and the renters accepted the price hikes without question. In fact on certain inner city properties, my tenants have been relentlessly asking me to buy the properties.
post 1670555263 11-03-2022, 07:35 AM
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Idk here you guys live but here in NYC rents are going up and the top tier housing (penthouses) sale prices hre falling. Normal simp apartments (2 bedrooms) are doing fine.
post 1670555313 11-03-2022, 07:36 AM
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#81
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Originally Posted By rectifryer⏩
lets go through a thought experiment:

What's the monthly payment on a 500k house right now?

interest rate 7.5%....
Depends on where that home is.
post 1670555363 11-03-2022, 07:36 AM
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Originally Posted By HayZues
Lmao @ renters always exposing themselves
It is amazing and sad at the same time. It makes you wonder what other basic tasks they struggle with in their day to days lives.
post 1670555453 11-03-2022, 07:37 AM
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#83
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Originally Posted By Destor⏩
I'm charging much less rent than a person would be spending on a new mortgage if they bought my house today mainly because I'm passing on the savings from my lower rate, which is locked in at 1.69% until 2026 versus the 5.xx% current rate.

If someone bought the house today with rates where they are, they'd be spending $800/month more just on the higher financing costs. I had the capacity to take on that debt when rates are lower, now I can help someone else benefit in this tougher rate environment.
This plus the fact that I bought the properties at a much lower price than current market prices.....but its still not half and thats with some of the highest property tax prices in the country.

Id rather have a upstanding professional rent my place than max out my rental potential with a new tenant that I dont know as well.
post 1670555513 11-03-2022, 07:38 AM
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Originally Posted By tripod29⏩
It is amazing and sad at the same time. It makes you wonder what other basic tasks they struggle with in their day to days lives.
To have a wider perspective.....I wouldnt advocate that a renter buy now.......

But they should have bought years ago. That would have been the ideal.
post 1670555783 11-03-2022, 07:42 AM
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Originally Posted By donblaximus⏩
To have a wider perspective.....I wouldnt advocate that a renter buy now.......

But they should have bought years ago. That would have been the ideal.
bUt It'S aBoUt tO cRaSh BrO!!!!!!!
post 1670555823 11-03-2022, 07:42 AM
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Paid $330k for our house last year locked @ 2.75%. The house next door just sold for $380k despite being 850 sq ft smaller and not nearly as well appointed. I think we will be ok.
Permabulk/bloatlord Crew
Tradie Crew
HTC
post 1670555953 11-03-2022, 07:46 AM
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Originally Posted By rectifryer⏩
lets go through a thought experiment:

What's the monthly payment on a 500k house right now?

interest rate 7.5%....
Probably like 2700, not counting property taxes, which vary wildly.


Now let's compare the 3k sf and half an acre to that 800 sf 1 bedroom with shared walls and a parking lot you are using to define "rental costs."
Ol' 71st street. The devil that birthed me.

606 G0D.
post 1670556113 11-03-2022, 07:48 AM
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rent is double a mortgage here, I don't know where you people live.
post 1670556223 11-03-2022, 07:50 AM
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#89
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I locked in @ 2.6% end of 2019 tho... So with all due respect , and I mean ALL due respect... Opie can run backwards through a whole field of dicks

Good day Sir
6'2" @ 247lbs
post 1670556333 11-03-2022, 07:52 AM
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Originally Posted By 1slo5oh⏩
I locked in @ 2.6% end of 2019 tho... So with all due respect , and I mean ALL due respect... Opie can run backwards through a whole field of dicks

Good day Sir
Pretty sure he'd run face first with his mouth open wide as possible.
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