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Forum » This redditor broke his family's cycle of poverty by buying a house at the peak
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Thread: This redditor broke his family's cycle of poverty by buying a house at the peak

post 1643886053 07-29-2021, 06:00 PM
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This redditor broke his family's cycle of poverty by buying a house at the peak

He'll soon learn what real poverty feels like when he's $100,000 underwater on his mortgage.



Just more proof it's not the smart money who is buying single family homes right now

https://www.reddit.com/r/pics/commen...fe_and_i_just/
post 1643886493 07-29-2021, 06:06 PM
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i got a friend too looking for a house brb only 200k max mortgage. is looking at ghetto/starter homes that need work for bout 180k when a year ago they were 120-130k JUST LOL
post 1643886863 07-29-2021, 06:14 PM
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my wife? she's asian!
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post 1643886903 07-29-2021, 06:14 PM
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That literally looks like the house and guy from Cuckold Simulator



post 1643887023 07-29-2021, 06:17 PM
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Originally Posted By BLOATMOGGER⏩
He'll soon learn what real poverty feels like when he's $100,000 underwater on his mortgage.
but he more than likely has a fixed rate mortgage, so he won't feel anything. what am I missing?
Originally Posted By BLOATMOGGER⏩
Just moreproof it's not the smart money who is buying single family homes right now
but wait, what's the proof? what am I missing?













also lol at soy phelps
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post 1643887563 07-29-2021, 06:25 PM
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post 1643887703 07-29-2021, 06:27 PM
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Almost 100% certain that the wife's family helped out massively. Most Asian families give a 30-50% deposit minimum towards any house purchase. He'll probably be stuck deep in the poverty trap if he married any other race at all. Wouldn't be surprised if she was the main breadwinner too. Asian girls love loser white boys.
post 1643888363 07-29-2021, 06:38 PM
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Unless redditor provided financial details OP needs to STFU


Whether you can afford a house or not and when you bought it in terms of asset price cycle aren’t nearly the same thing
post 1643889193 07-29-2021, 06:52 PM
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why is he going to be 100k upside down?
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post 1643889303 07-29-2021, 06:53 PM
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looks like a nice house, why u hatin bro?
post 1643889463 07-29-2021, 06:56 PM
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Originally Posted By meanstringbean⏩
Unless redditor provided financial details OP needs to STFU


Whether you can afford a house or not and when you bought it in terms of asset price cycle aren’t nearly the same thing
It can mean working 5 years, then retiring, or working till you're 80, and still having a large debt to pay off and nothing to leave your children.

The people spreading this bullchit of affordability, or home VS investment are the (((bankers))) trying to make your buy chit in a bubble.
post 1643889513 07-29-2021, 06:57 PM
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Originally Posted By KBurn⏩
Almost 100% certain that the wife's family helped out massively. Most Asian families give a 30-50% deposit minimum towards any house purchase. He'll probably be stuck deep in the poverty trap if he married any other race at all. Wouldn't be surprised if she was the main breadwinner too. Asian girls love loser white boys.
I’ve never understood this dynamic…see it all the time.
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post 1643889603 07-29-2021, 07:00 PM
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Originally Posted By Jestbrah⏩
why is he going to be 100k upside down?
this. it all depends on location.

my parent's house has lost like 20k in calgary since the oil crash and my duplex has also lost value.
post 1643889623 07-29-2021, 07:00 PM
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Originally Posted By KBurn⏩
It can mean working 5 years, then retiring, or working till you're 80, and still having a large debt to pay off and nothing to leave your children.

The people spreading this bullchit of affordability, or home VS investment are the (((bankers))) trying to make your buy chit in a bubble.
Wrong lmao. What part of “if you can afford it” don’t you understand


You don’t buy or view your primary residence as an investment. Because financially, it’s a poor one. It’s a place to live. If you can comfortably live there financially then no it impacts none of what you mentioned
post 1643889633 07-29-2021, 07:00 PM
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That facial expression is so insufferable. Taking a selfie feels strange enough, but making that face, staring at it, and hitting "CLICK" to take the picture...just pathetic.
post 1643889703 07-29-2021, 07:02 PM
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Jfl the soy open mouth facial expression. Unbelievable
post 1643889883 07-29-2021, 07:04 PM
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Originally Posted By KBurn⏩
Almost 100% certain that the wife's family helped out massively. Most Asian families give a 30-50% deposit minimum towards any house purchase. He'll probably be stuck deep in the poverty trap if he married any other race at all. Wouldn't be surprised if she was the main breadwinner too. Asian girls love loser white boys.
Asiancel who can't even **** Asians dude to 3" dink detected.

Lmfao
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post 1643889963 07-29-2021, 07:06 PM
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Just sold my house to become a rentcell for a year. I'll buy for cash next year.

The only thing the ******* redditor has going for him is low interest rates. He'll soon learn he paid too much.
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post 1643890023 07-29-2021, 07:07 PM
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saw the soy face then lold so fuking hard when i saw the asian wife lmaoo
post 1643890083 07-29-2021, 07:08 PM
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Originally Posted By meanstringbean⏩
Wrong lmao. What part of “if you can afford it” don’t you understand


You don’t buy or view your primary residence as an investment. Because financially, it’s a poor one. It’s a place to live. If you can comfortably live there financially then no it impacts none of what you mentioned
(((They))) thank you for your services. Put it another way, its the difference between a 15 minute commute and a 2 hour commute every workday for the next 30 years. Both are affordable, but one will give you a 0/10 quality of life.

Your statement is chittily defined too. What is "if you can afford it"? It means completely different things to different people. Its not quantifiable, ie. retarded.

You don't view it as a financial investment, but there's a big difference between a 2 hour commute, and working till 80 VS 15 minute commute and retiring in 5 years. Both are affordable options to different people, but the difference in financial freedom and mental health are quantifiable.

BRB, getting mugged in the middle of my 2 hour journey back home when I'm 75, still working 12 hour days, eating nothing but bread, then bleeding out in the subway, but its ok, because I bought when it was affordable, unlike my mate who bought 2 years later, retired at 40, has multiple investments, eats good food everyday, and has plenty of time to enjoy life, he's the loser, because he thought of it as an investment. Proud to sacrifice my life for (((them)))
post 1643890113 07-29-2021, 07:08 PM
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News Flash Asian girl is Prego with Black neighbors Seed
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post 1643890233 07-29-2021, 07:10 PM
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Originally Posted By KBurn⏩
(((They))) thank you for your services. Put it another way, its the difference between a 15 minute commute and a 2 hour commute every workday for the next 30 years. Both are affordable, but one will give you a 0/10 quality of life.

Your statement is chittily defined too. What is "if you can afford it"? It means completely different things to different people. Its not quantifiable, ie. retarded.

You don't view it as a financial investment, but there's a big difference between a 2 hour commute, and working till 80 VS 15 minute commute and retiring in 5 years. Both are affordable options to different people, but the difference in financial freedom and mental health are quantifiable.

BRB, getting mugged in the middle of my 2 hour journey back home when I'm 75, still working 12 hour days, eating nothing but bread, then bleeding out in the subway, but its ok, because I bought when it was affordable, unlike my mate who bought 2 years later, retired at 40, has multiple investments, eats good food everyday, and has plenty of time to enjoy life, he's the loser, because he thought of it as an investment. Proud to sacrifice my life for (((them)))
What the flying phuck are you even talking about
post 1643890313 07-29-2021, 07:12 PM
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Originally Posted By mr.left
News Flash Asian girl is Prego with Black neighbors Seed
post 1643890423 07-29-2021, 07:13 PM
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Originally Posted By keyboardworkout⏩
Just sold my house to become a rentcell for a year. I'll buy for cash next year.

The only thing the ******* redditor has going for him is low interest rates. He'll soon learn he paid too much.
I love low interest ratecels. Idiots don’t realize that when rates go down, prices go up, and the net is basically the same. Too many people are financially smart but not financially wise. Sure you got that good rate - but half the time you can’t even afford the principal. It’s like bragging about financing a car you can’t afford because you got 0% interest



Home ownership is the path to some level of wealth for most Americans because it’s a forced investment account. Majority are too short sighted for anything else. If you’re a tactical rentcel (get a good place, costs maybe 20% of income, save aggressively, don’t stress about repairs, etc) you will usually beat the home owner who is rationalizing their 50k landscape job as an “investment” that barely increases their property value
post 1643890533 07-29-2021, 07:17 PM
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Originally Posted By meanstringbean⏩
What the flying phuck are you even talking about
The more I argued with them, the better I came to know their dialectic. First they counted on the stupidity of their adversary, and then, when there was no other way out, they themselves simply played stupid. If all this didn't help, they pretended not to understand, or, if challenged, they changed the subject in a hurry, quoted platitudes which, if you accepted them, they immediately related to entirely different matters, and then, if again attacked, gave ground and pretended not to know exactly what you were talking about....

Sometimes I stood there thunderstruck. I didn't know what to be more amazed at: the agility of their tongues or their virtuosity at lying. Gradually I began to hate them.
post 1643891123 07-29-2021, 07:29 PM
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Gaping cuck mouth strikes again. It's only a matter of time peakhousebrah.
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post 1643891963 07-29-2021, 07:42 PM
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Of course his wife is Asian

Just fuking lmao at yellow fever crew
post 1643892083 07-29-2021, 07:43 PM
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Originally Posted By Anachron⏩
While that is true, the fact remains the the vast majority of rentcels are worse off being rentcels.
Very true. Most rentcels are there not by choice but because they can’t afford a house. Even being a rentcel is dumb if you’re not saving from the lower expenses / smaller space.

Know we’ve discussed this in depth in the past
post 1643892123 07-29-2021, 07:44 PM
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post 1643892293 07-29-2021, 07:47 PM
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Originally Posted By meanstringbean⏩
I love low interest ratecels. Idiots don’t realize that when rates go down, prices go up, and the net is basically the same. Too many people are financially smart but not financially wise. Sure you got that good rate - but half the time you can’t even afford the principal. It’s like bragging about financing a car you can’t afford because you got 0% interest



Home ownership is the path to some level of wealth for most Americans because it’s a forced investment account. Majority are too short sighted for anything else. If you’re a tactical rentcel (get a good place, costs maybe 20% of income, save aggressively, don’t stress about repairs, etc) you will usually beat the home owner who is rationalizing their 50k landscape job as an “investment” that barely increases their property value
Yes most people are incapable of building wealth so a home is their only wealth, but HELOCs and such have made it to where most Americans don't ever own their homes.

For most people I think renting is a better decision. The key is to find a slightly undervalued home when interest rates are low and you're golden because your payments will be crazy low. Wife and I just bought a 4br 2 story in a great area and the total PTI is $213 more than this garbage 3br rental we're in. Most people i know seem to leverage to the hilt then wonder why they have no discretionary income left.
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