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Forum » It's over for "I'll be waiting with cash for the housing market to crash-cels"
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Thread: It's over for "I'll be waiting with cash for the housing market to crash-cels"

post 1657211173 03-02-2022, 01:43 PM
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#61
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Originally Posted By monster0ultra⏩
Mortgage rate should be compared against US govt bond rates. Risk free return VS almost risk free return.

Assuming the market will always return 8%-10% is insanity. Ask the Japanese how that worked out.

Highly based. And we're going down the exact same road as Japan (flatlining GDP growth, govt debt whaling out of control, endless QE).

Past performance does not equal future results, brahs.
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post 1657211593 03-02-2022, 01:48 PM
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#62
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3 bed 2 bath, 1500-2000sf tops for the living area. Basically a pre-engineer metal building. Its 5 miles from a major ski resort so I would want bunk beds and a large living room area to hang out, cook, party, etc. Honestly the 40x60 might be a little big and the 16' walls a little small. But a shop that size, build half of it out, 2 levels and you get 2400sf of living and 1200sf of heated garage. A buddy did this down the street from my lot but did it 60x80 and his it way overkill. Once he was done, he moved there and quit his job ha ha.
post 1657211773 03-02-2022, 01:52 PM
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As someone from Sydney, Oz. I find it interesting about home ownership vs renting for Americans.

I saw a video, and im not sure its accurate, but in America you guys pay insane land tax which if often more expensive than the house?

Like it was a 350k massive home, and its like 40k in land tax a year.

For us Aussies, its basically council fees for ~2k a year and thats it. Then you pay your mortgage which should be about 40% of your income (varying a lot depending on situation). I make decent salary (42yo) and i make more money on my home increasing in value than i do from work. But i dont expect this to go on forever.
post 1657212113 03-02-2022, 01:57 PM
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State by state makes a massive difference. The more liberal your state the higher the taxes by general rule. My house is about $450K and I pay about $2300/year in taxes.
post 1657212433 03-02-2022, 02:01 PM
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Originally Posted By aal04⏩
As someone from Sydney, Oz. I find it interesting about home ownership vs renting for Americans.

I saw a video, and im not sure its accurate, but in America you guys pay insane land tax which if often more expensive than the house?

Like it was a 350k massive home, and its like 40k in land tax a year.

For us Aussies, its basically council fees for ~2k a year and thats it. Then you pay your mortgage which should be about 40% of your income (varying a lot depending on situation). I make decent salary (42yo) and i make more money on my home increasing in value than i do from work. But i dont expect this to go on forever.
A house of that value has annual property taxes of $2000 to $10000 depending on which state/city.
post 1657213103 03-02-2022, 02:12 PM
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post 1657213663 03-02-2022, 02:19 PM
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A HOUSE IS WORTH A HOUSE

Everyone bragging how much “money” they’ve made on their house, if you was to sell your house, you’d have to buy another house and that house would also have risen in value so you don’t actually get to realise the “money you made”
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post 1657214233 03-02-2022, 02:29 PM
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Originally Posted By Miscuided⏩
A HOUSE IS WORTH A HOUSE

Everyone bragging how much “money” they’ve made on their house, if you was to sell your house, you’d have to buy another house and that house would also have risen in value so you don’t actually get to realise the “money you made”
This

So tired of hearing all this "my house is worth 3x now!"

Yeah so is every other house you would consider living in if you sell to actually make that 3x profit
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post 1657214723 03-02-2022, 02:36 PM
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Originally Posted By Miscuided⏩
A HOUSE IS WORTH A HOUSE

Everyone bragging how much “money” they’ve made on their house, if you was to sell your house, you’d have to buy another house and that house would also have risen in value so you don’t actually get to realise the “money you made”
I can't speak for others but I'm just happy I went from renting to owning when I did. I don't make much more money now than I did two years ago, if I was to buy now it would need to be a significantly inferior home to the one I'm in.
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post 1657214783 03-02-2022, 02:37 PM
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So where do they think they will find all these buyers with an unlimited source of money?
post 1657214873 03-02-2022, 02:39 PM
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#71
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Originally Posted By FA*******⏩
Highly based. And we're going down the exact same road as Japan (flatlining GDP growth, govt debt whaling out of control, endless QE).

Past performance does not equal future results, brahs.
Anyone who thinks the economy will keep going up is out of their dammed minds.
post 1657215903 03-02-2022, 02:54 PM
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#72
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Originally Posted By Miscuided⏩
A HOUSE IS WORTH A HOUSE

Everyone bragging how much “money” they’ve made on their house, if you was to sell your house, you’d have to buy another house and that house would also have risen in value so you don’t actually get to realise the “money you made”
This to a degree, same as paper gains in the stock market. Its only realized when you sell. This is why everyone should have 2 houses.
post 1657217723 03-02-2022, 03:22 PM
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Originally Posted By Miscuided⏩
A HOUSE IS WORTH A HOUSE

Everyone bragging how much “money” they’ve made on their house, if you was to sell your house, you’d have to buy another house and that house would also have risen in value so you don’t actually get to realise the “money you made”
yes and no...

3 types of people
1. with homes
2. with homes and investment properties
3. rentcels.

case 3. House prices impact rentcels directly (rent goes up), and rising prices block them out of the market faster than they can save.
case 1. people with homes are still impacted. If they stay they are fine, if they move, they are generally fine, but they have a huge benefit of retiring early, and selling the property to live comfortably. That is unless you want to pass it down to your children, which is important for a lot of people (myself included)
case 2. They are laughing all the way to the bank.
post 1657223233 03-02-2022, 05:00 PM
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#74
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Originally Posted By JayJ350⏩
So where do they think they will find all these buyers with an unlimited source of money?
Refer to my very first post... it's a finite commodity with more demand than there ever has been. IMO, the only way that we can possibly curb this "buy at any price" market we're in, is to ban foreign investors. 100% ded fkn srs.
"It won't get better, just different."
post 1657256133 03-03-2022, 06:52 AM
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#75
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Originally Posted By Miscuided⏩
A HOUSE IS WORTH A HOUSE

Everyone bragging how much “money” they’ve made on their house, if you was to sell your house, you’d have to buy another house and that house would also have risen in value so you don’t actually get to realise the “money you made”
Originally Posted By MiamiLife305⏩
This

So tired of hearing all this "my house is worth 3x now!"

Yeah so is every other house you would consider living in if you sell to actually make that 3x profit
Poorcel mentalities gents.

If you have that much equity in your home, go get a home equity loan and stash that **** in the market.

Again. Use other peoples money to make money.
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