Funny how he continues to ignore this question.....

Housing prices are crazy here too. Big detached homes in nice areas are usually people cashing out equity from a starter house and upgrading. Town houses and semis are more typical for first time buyers.

Fellow GA brah. I like this version of WattsHisface

Misc needs moar nao!

Disclaimer on this post: There is no one size fits all solution, sometimes renting CAN be better than owning, but this all depends where you are in life, where you are in your career, and your realistic future career prospects, as well as your local RE market. The following is general advice that applies to the majority of people, not all:

I think you need to view it differently - it's not a simple 1 v 1 comparison of what grows faster RE or S&P.

You need to live somewhere right? And you will have to dedicate X amount of monthly cash flow to this most basic of human needs right?

So what are your options?
1) Rent. X amount of your cash flow goes to recurring monthly expense, you put a roof over your head and satisfied that basic need, but the money is gone forever, there are no additional financial benefits, you are exposed to rent increases forever and other unpredictable factors. Upside is if you have a career that is in flux, don't have stable employment, or know you will be moving (not just across town) in the near future, renting gives flexibility to relocate.

2) Own. After your purchase X amount of your cash flow goes to paying your mortgage, which if you select a 30-year fixed loan will be a constant payment which will never increase over that span of time, like most people, you will receive pay increases and promotions over the span of your career and the percentage of your income which you use to pay your mortgage will continually decrease which results in increased net cash flow and the ability to invest that money or spend however you see fit. Most importantly, they money you "spend" every month paying your mortgage is not going to some evil landlord, its going to YOU, you must understand you are essentially paying YOURSELF that amount every month, and it goes into an account called "House Savings Account". What happens at the end of the 30 years? You OWN an asset worth X amount of money, you can sell it, you can take loans against it, HELOC's, roll equity over into another house, tons of options. Or just sit on it and pay NO MORE "RENT" for the rest of your life, just local property taxes. On top of all of this, one of my biggest benefits as a single man, is my tax burden has dropped tremendously, single men with good income who don't own property get KILLED on taxes, your tax burden goes down, the interest on your mortgage is tax deductible, and your property taxes are tax deductible.


The point is the ORDER in which you do things is important, your FIRST goal should be home ownership, once you hit that milestone life gets a lot easier, all your costs are fixed, you can rent out rooms, your tax burden is greatly reduced, and you are building equity in an asset that gives you huge flexibility in terms of tax advantages for rolling equity into a new RE investment (tax free) or taking out a HELOC to do a home remodel to further increase the value of your house, or do nothing.
Now you can make better decisions for your future, you are stable, you have an asset, and THEN you should start looking at stock market type investments, equities, target date retirement funds...once you get to a certain net worth financial institutions give you A LOT of help, better interest rates, better investment opportunities, top-notch investment / financial advisors, tax attorney etc.

It is very hard to open peoples eyes to all of these side benefits to owning Real Estate because as non-owners or perpetual renters they never see the bottom line statement on all these advantages, and just how much money they are making (in equity) and how much money they are saving (reduced tax burden) at the same time.

The order for success in most scenarios is:
1) College degree in a USEFUL discipline, BS in Electrical Engineering for me.
2) Get job IN your field of study
3) Live as cheaply as possible, if you have any debt eliminate it immediately.
4) Save up for down payment on house, this is your most important mission while all your idiot friends front their fake lavish lifestyle on social media
5) Buy single family home, even a fixer-upper, just to get on the property ladder.
6) Rent out rooms, build up savings, as you build equity, welcome to your first bit of creating real wealth
7) Seek out other investments, build up stock portfolio, seek advice of financial planner, create your goals for the future.

When you become a millionaire, hit me up, no need to thank me, we'll grab a drink, start a millionaires club, and get some sweet jackets made and laugh at the plebs who fronted on social media or lived in their downtown high-rise apartment with their expensive car while building no wealth.

Literally don't go more than 5 posts without SAYING it, but have you provided a single piece of evidence supporting it?

Give us one spoon pick of your living room or the inside of your whip, or just link your ig? I am pretty confident you're a gmiscer alt or some chit. Haven't looked too deeply into your post history because I don't think I can stomach it tbh.

LMAO


I have posted pics of my place

Didn't read through entire thread but these salary threads need to stop or at least be more specific for the simple fact that kids vs. no kids is night and day lifestyle difference. BRB day care is 1-2k per month in big cities these days.

100k with no kids and no debt = very comfortable middle class
100k with 2 kids while trying to pay off home, daycare, and minivan = poverty

Not doubting you,
Can you politely give me a number, awatts?


Thanks,

Grammarnazim8

180 brah

180 is middle class

I have said that a million times brah


100k lower middle class
150 middle class
200-300 upper middle class

Alright. That's pretty sweet if post tax. Pre tax is poverty but you're in Texas so it's good.

you might have a point if rent was half the price of mortgage but renting is absurdly expensive nowadays. Its barely cheaper than mortgage

and in 2 years, i will have zero mortgage or tent as my house will be paid for while you have rent forever

I pay rent for the place I live in. I also have two roommates.

I own two 4 bedroom townhomes and one 2 bedroom townhome worth a combined 1.35MM.

By misc standards I am poor because I rent. Mega poor because I have roommates.

I'm pretty sure that is his pre tax

Literally 99.8% of people discussing annual income are doing so on a pretax basis so it should be a given. Amusing that people are too daft to intuit that though.

wrong.jpg


maybe in a major city, with your spending habits and financial situation.

So this is how people come with 75k/yr. denial

What does a 3 brm house cost where you live?
What field are you in?

When MrAWatts started earning 100k

Depends on the neighborhood. Could be 350k could be around 900k. tech sales

Anything under $125 is poverty

nah mate I'm just saying there are actual parameters for the terms you're using and 200-300K is not anywhere near middle class. 200K salary puts you in the top <3% of the nation for earners. Literally every economist that cares enough to write about the class system has middle class ending well before 200K personal income.


How is that middle class exactly?

100k is nothing. It is standard fare, next step above poverty but not quite poverty. Thats why it is lower middle class. At this point you have escaped middle class, but you aren't changing your life drastically. You will just have less worries.

150k-200k middle class. You can do stuff without thinking about your bank account. You are not only comfortable, but you can enjoy life with some luxuries and vacations.

200-300k - you are the upper tier of middle class to where you have high comfort and good luxury, but you are still a job loss away from the poor house unless you have been building wealth. this is most specialized docs, etc. You will live well, but won't own yachts and toys of the rich folks - 350k+ per year.

Way to just regurgitate the same weak troll you been putting on this whole thread, damn I'm rustled m8


Enjoy renting

Well while you are on your high horse about my renting just remember you could literally double your 70k/yr and still need another 40k raise to be at my level.


OR

You would need a $110k raise.


Whichever perspective you prefer


I will enjoy my high rise views brah, thank you.

Ah ok. In my neighbourhood a 1 brm apt is around $450k, old house in decent suburb with some land starts at $1m

So yeah my perspective is skewed

Australia of peace!

you are fucking retarded

the median household income in US is 60K. Less than 15% of households make over 150K and most of them are dual earners

how can middle class be top 15% of people?

Most people live poverty lives.