These cucks paid for an overpriced property and interests rates are going up.

Brb pay 800k for a small condo thinking it will increase 5% per years like it did the last 20 years,
Brb interests rates are going up and not able to pay my mortgage anymore OOPSS
Brb values will most likely decline
Brb put all my money in a garbage property instead of having cash to buy when everything goes down


Honestly how do they even cope? Is there like a hotline for homeowners about to rope themselves?

Thanks for reminding me to jack the rent again. (Landlord crew)

Your rent is due next week

It is, there are 2 core issues that americans refuse to acknowledge

- Interest rates raising directly impacts the demand for new homes / new home ownership. This wouldn't be an issue if americans lived within their means, but u have poorcels making $250k a yr living in the $800k apartment u mentioned. Lower demand will force the prices back into a more rational market rate
- The prices dont make anysense, places with $200k material costs will got for $1M just because of land and emotions

Location : BC, Canada. You can't even do that until the lease expires and you can't even jack it up up to a certain % (which doesn't even follow inflation)

LMAOOOOOOOO O O O O O O O O O O O O O O O O O

Don't forget your huge mortage payments though

Yep, you get it.

Too bad these homecels don't LMAOOOOOOO O O O O O O O O O O O O O OOOOOOO

It never even began for you

I invested everything I saved by renting instead of owning in REITS (real estate investment trusts) so I got real estate exposure too, without having mortgage payments. Can sell at anytime etc,

LMAOOOOOOO O O O O O O O O












lollllllllllllllllll









REKT LMAOOOOOOOOOOOOOOOOOOOOO

The mortgage can be 30 years but you have to renew your rates every 5 years or so LMAOOOOOOOOOOOOO

Plus 80% of the people take a variable rate because it is cheaper LMAOOOOOOOOOOOOOOO

Strong understanding of mortgage dynamics

brb pay home in cash

Not in America you don't LMAOOOO. Your rate stays the same throughout the mortgage.

You must live in Communist Canada or something where they don't have fixed rate mortgages.

Lol @ Beavercels (srs)

Wtf are you talking about? 2.85% for the life of the loan here. No change unless I choose to refinance.

LMAOOOOOOOOOOOOOOOOOO

You just proved you have NO CLUE what you are talking about.

Strong everything.

Simple google search :

How long are mortgage terms in the US?
Mortgage term popularity data

A further breakdown of mortgage terms shows that about 80% of mortgages have terms of five years or less.Mar 2,
2022


LMAOOOOOOOOOOOOOOOOO

mortgage terms and amortization is not the same you LOW IQ CUCK


LMAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

He lives in Canada

They don't have fixed rate mortgages there, and he's too low IQ to understand that America has fixed rate mortgages.

LOL @ Beavercels (srs)

The standard mortgage in Canada isn't the 30-year fixed, as it is in the U.S., but a five-year mortgage amortized over 25 years. That means the loan balance has to be refinanced at the end of five years, exposing the borrower to any increase in rates that has occurred in the interim

Less than 10% of mortgages are adjustable rate in America.

roflllllllllllllllllllllllllllllllllll

This is the worst troll thread I've seen in a while. You're an idiot.

jelly, i locked in at 3.5%

lol just LMAOOOOOOOOO at homeownerscels FUUUMING in this thread.

Just imagine buying a propery that will most likely decrease in value LMAOOOOO

I lucked out and did it in March 2020 right when we all went into the retarded Covid lockdown. I think banks might have even suspended refinancing briefly right after that. Rates might have gone even lower ar some point but not much.

How many years for the loan? Congrats on cucking the bank!

I cope by buying the right kind of property in a good place.

Even if the market corrects tomorrow, ill just hold and still collect the money from rent to pay the costs+... meanwhile youre constantly too afraid to buy, if you can actually afford to which i doubt very much.

Toronto is a constantly growing city, you either buy in which will inevitably come with dips and peaks, or you stand there on the sidelines singing doom while the rest of us get rich.

OP doesn't even know what a fixed rate mortgage is. What an idiot.

You don't renew your interest rate every 5 years. I have never heard of this and I've actually had a mortgage before.

Bought my house back in the mid-2010's. That was around the time it started turning into a seller's market, but prices weren't insane yet. Interest rate was okay on a 30 year mortgage deal. My big win in my divorce from my bitch ex-wife a couple years ago was getting to keep my house while legally removing her from having any possible claims of stake in my house. Summer of 2021, I was finally coming out of my depression from my divorce enough to get my chit together and refinance my house before it was too late and the insanely low interest rates were gone. Got my interest rate locked in 2.75% on a 15 year mortgage that shaved a decade off my loan payments.

So, I got the best of both sides of buying homes recently by buying before housing prices went up through the angus around 2019/2022, and refinancing it to a dirt cheap interest rate that is basically getting me free money by *not* paying it off early due to inflation being 10x worse than my locked in mortgage rate. All while my house's value has increased 40- 50% in just over 5 years. Meanwhile, people buying now are paying out the angus for a dogchit selection of houses, often in bidding wars, and are getting bit in the asss with way chittier interest rates too.

As for rentcels like my ex-wife, have fun with that chit. Every rentcel I know is getting kicked in the asss hard with rent price hikes. I see saps paying $1k to rent the same crappy 2 bedroom/1 bathroom appartments that I was paying like $500 to rent in the late 2010's, and only going up. Meanwhile, I'm barely paying more than them to live in a 5-bedroom/2 bathroom detached house in a nice quiet neighborhood instead of some chitty apartment/condo outfit. Gonna lmao when I see rentcels living in chitty apartments I lived in as a teenager/my early 20's paying MORE for their monthly rent than I do for my locked in mortgage in 2 - 3 years. srs.

Toronto LMAOOOOOOOOOOO

One of the most overvalued market in the world congrats

then you woke up and your house lost 20% in value,

texted your wife as she was getting het cheeks clapped by a god renter like me.

















COPE

Have fun paying back 500k while the house is worth 100k LMAOOOOOOOOOOOOOOOOOOOO

LOL he bought his house in 2010, I doubt his house will ever go back down to that level again.

My house is paid for. Probably live here the rest of my life. I could sell it and probably double my money.

Fuking lol at rentcels

2.5% for 30 years, house doubled in value since I bought it. Don’t give a fuk if it comes back down to what I paid for it. Mortgage would be affordable if my salary got halved.

Make sure you keep your place tidy and don’t bring in any contraband. Never know when your landlord will want to do an inspection OP.

Mind is the reverse. ...