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Us housing market getting wrecked mortgagecels on ropewatch
10-12-2022, 07:08 PM
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#31
10-12-2022, 07:23 PM
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#32
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Originally Posted By moosik85⏩
with what cash? they buy with debt. right now cash is expensive.If prices go down institutional investors will buy up the market
Rentcels will they ever learn
Rentcels will they ever learn
10-12-2022, 07:32 PM
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#33
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Originally Posted By SoulBlazer470⏩
go look at your mortgage amortization chart.Rentcels are modern day serfs. How is feudalism treating you peasants?
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments.....
then when you SELL the asset you need to pay a realtor 4-6%
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
10-12-2022, 07:32 PM
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#34
10-12-2022, 08:24 PM
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#35
- pondus_levo
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Originally Posted By mp83⏩
O really? Where I live, a 1br apartment is $2200/month. My mortgage is $1650/month and I have a 4br/3bath in 1/2 acre.Lol if you are renting an apartment, you're not paying near what a mortgage is. Mortgage would be 2x at a minimum. I'd pay more in interest than my whole rent is
The reason I bought a home is that my landlords wanted to raise my rent to $1750 for their 3br/2bath 15 years ago. I said **** that and bought my own house. Rent for that house today is probably at least $3000. On top of that, I make 2.5x today what I made 15 years ago.
Rentcels, when will they learn maths?
Originally Posted By kengriffeyjr24⏩
I always cringe when people say trading stocks better than owning a home. 99% chance you lose money on the stock market. Only 1% are actually profitable, and 99.9% of those people mare market movers, not miscers.go look at your mortgage amortization chart.
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments..... On top of that on top. I bought in 2007 BEFORE the market crashed.
then when you SELL the asset you need to pay a realtor 4-6%.
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments..... On top of that on top. I bought in 2007 BEFORE the market crashed.
then when you SELL the asset you need to pay a realtor 4-6%.
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
Also, did you know there are lenders that will monitor your APR and let you know when it drops, and will let you refinance for practically free with the same terms, just a lower monthly payment? You aren't even locked in an a high APR (assuming you are stupid enough to pay for it in the first place).
Why do they do this, you might ask? Because taking less money from you is still more profitable than you going to another lender.
Same principle as when you want to cancel a service like internet and they offer you a better deal to keep you.
too many unawares in this thread.
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10-12-2022, 08:39 PM
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#36
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Originally Posted By kengriffeyjr24⏩
BRB looking forward to my doge and kids running around in the backyard of my share portfoliogo look at your mortgage amortization chart.
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments.....
then when you SELL the asset you need to pay a realtor 4-6%
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments.....
then when you SELL the asset you need to pay a realtor 4-6%
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
Lmao
https://forum.obnoxiousbrutes.com/showt...hp?t=181764923
Originally Posted By miscbrah44⏩
-landlord says op must move out by Oct 31.
-live in Toronto Canada housing is extremely short supply
-every place I to try to rent gets taken after the viewing(15 apts I've seen now)
-got around 5k cash(not selling any investments)
What do ?
-live in Toronto Canada housing is extremely short supply
-every place I to try to rent gets taken after the viewing(15 apts I've seen now)
-got around 5k cash(not selling any investments)
What do ?
10-12-2022, 09:01 PM
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#37
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Originally Posted By pondus_levo⏩
99% chance you lose money on the stock market. Only 1% are actually profitable?O really? Where I live, a 1br apartment is $2200/month. My mortgage is $1650/month and I have a 4br/3bath in 1/2 acre.
The reason I bought a home is that my landlords wanted to raise my rent to $1750 for their 3br/2bath 15 years ago. I said **** that and bought my own house. Rent for that house today is probably at least $3000. On top of that, I make 2.5x today what I made 15 years ago.
Rentcels, when will they learn maths?
I always cringe when people say trading stocks better than owning a home. 99% chance you lose money on the stock market. Only 1% are actually profitable, and 99.9% of those people mare market movers, not miscers.
Also, did you know there are lenders that will monitor your APR and let you know when it drops, and will let you refinance for practically free with the same terms, just a lower monthly payment? You aren't even locked in an a high APR (assuming you are stupid enough to pay for it in the first place).
Why do they do this, you might ask? Because taking less money from you is still more profitable than you going to another lender.
Same principle as when you want to cancel a service like internet and they offer you a better deal to keep you.
too many unawares in this thread.
The reason I bought a home is that my landlords wanted to raise my rent to $1750 for their 3br/2bath 15 years ago. I said **** that and bought my own house. Rent for that house today is probably at least $3000. On top of that, I make 2.5x today what I made 15 years ago.
Rentcels, when will they learn maths?
I always cringe when people say trading stocks better than owning a home. 99% chance you lose money on the stock market. Only 1% are actually profitable, and 99.9% of those people mare market movers, not miscers.
Also, did you know there are lenders that will monitor your APR and let you know when it drops, and will let you refinance for practically free with the same terms, just a lower monthly payment? You aren't even locked in an a high APR (assuming you are stupid enough to pay for it in the first place).
Why do they do this, you might ask? Because taking less money from you is still more profitable than you going to another lender.
Same principle as when you want to cancel a service like internet and they offer you a better deal to keep you.
too many unawares in this thread.
99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
stocks have OUTPERFORMED housing historically. this has never NOT BEEN THE CASE!
dumbest post ive ever seen on the misc
10-12-2022, 09:17 PM
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#38
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Paid off for 8 years, but thanks for the concern OP.
Don't forget to pay your rent, tho. Will probably be going up.
Don't forget to pay your rent, tho. Will probably be going up.
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10-12-2022, 09:22 PM
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#39
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Originally Posted By kengriffeyjr24⏩
No the dumbest posts on the misc are the ones that don’t realise that property has a massive leverage advantage over shares and therefore the returns to property are far greater99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
stocks have OUTPERFORMED housing historically. this has never NOT BEEN THE CASE!
dumbest post ive ever seen on the misc
99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
stocks have OUTPERFORMED housing historically. this has never NOT BEEN THE CASE!
dumbest post ive ever seen on the misc
We refer to these people as “rentcucks” and use them to finance our retirement
10-12-2022, 09:24 PM
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#40
10-12-2022, 09:26 PM
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#41
10-12-2022, 09:31 PM
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#42
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Originally Posted By fox994⏩
Lol jokes on you most jurisdictions restrict rent hikesgot a 2.8% interest rate. enjoy your rent hikes
Spoiler!
so instead of raising their rent to market prices, landlords terminate the lease so they can enter into a new lease with no price restrictions. So miscers find themselves out on the street.
10-12-2022, 09:39 PM
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#43
- pondus_levo
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Originally Posted By kengriffeyjr24⏩
The fact that you posted those graphs only emphasizes that you are not one of the 1%.99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
stocks have OUTPERFORMED housing historically. this has never NOT BEEN THE CASE!
dumbest post ive ever seen on the misc
99% chance you lose money on the stock market. Only 1% are actually profitable?
99% chance you lose money on the stock market. Only 1% are actually profitable?
stocks have OUTPERFORMED housing historically. this has never NOT BEEN THE CASE!
dumbest post ive ever seen on the misc
The people that have $200k lying around didn't invest in the stock market instead of buying a house. They had enough money to do both.
Please, for the love of God, don't tell me you are a 52-year-old rentcel.
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You will never know your limits, unless you push yourself past the imaginary lines you have drawn in the sand.
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10-12-2022, 09:40 PM
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#44
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Originally Posted By r32gojirra⏩
what if i told you...that you could......trade stocks on leverage?No the dumbest posts on the misc are the ones that don’t realise that property has a massive leverage advantage over shares and therefore the returns to property are far greater
We refer to these people as “rentcucks” and use them to finance our retirement
We refer to these people as “rentcucks” and use them to finance our retirement
10-12-2022, 10:10 PM
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#45
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Don't forget to tip your landchad next month OP.
Maybe then he won't raise your rent and make the tip permanent.
Maybe then he won't raise your rent and make the tip permanent.
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10-12-2022, 10:18 PM
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#46
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We pay like $2200/mo to live in a 4 bedroom home on a large lot, in a luxury private community.
I don't see the scenario where I say "ah we fkk'ed up"
I don't see the scenario where I say "ah we fkk'ed up"
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10-12-2022, 10:21 PM
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#47
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Originally Posted By kengriffeyjr24⏩
Slumlordmaxxers are incapable of comprehending basic economic principles outside of real estate. The fact there is zero barrier to entry is why they participate. Any tard can buy in and feel like they're living the murrican dream lol. There's even some RE cuck in here thinking corporations are going to buy property at current interest rates. lolgo look at your mortgage amortization chart.
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments.....
then when you SELL the asset you need to pay a realtor 4-6%
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
how much interest are you paying to your banking overlords. are you not a serf as well? (as the beginning of a mortgage, nearly 85% is going to interest lol)
of course buying long term is usually better, but renting is fine if you want
1.flexibility to move (job hopping is how people make a lot of money). no closing costs, no 6% payments of sale proceeds to realtors, no risk of the asset dropping in value).
2. want to save aggressively for a larger down payment to buy an actual nice home and/or buy a home for cash
3. don't want to deal with repairs
4. are in a place in life where you feel more comfortable passing ALL risks of the housing market/economy over to a landlord
5. prefer utilizing cash/equity in the stock market vs a home
-BRB I can buy 200k worth of stocks with no trading fees, and sell my stocks later with no trading fees. holding costs of my stocks are zero (I may even get dividends).
lets now assume I lock up that 200k in a house as a 20% downpayment (buying a 1 million dollar home). entrance fees on the investment of about 40k in closing costs, annual property taxes over 10k a year, interest wiping out initial equity appreciation for first 5-10 years of payments.....
then when you SELL the asset you need to pay a realtor 4-6%
I'd frankly prefer renting, saving my money and putting in the market since the fees are so much lower.
hell you can buy REITS, and have the same appreciation of the housing market without the 5 figure payments to realtors who cuck you over.
Your schtick sucks and it screams insecurity.
10-12-2022, 10:27 PM
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#48
10-12-2022, 10:38 PM
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#49
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Originally Posted By kengriffeyjr24⏩
What if I told you… that when the value of those stocks go down … you could be forced to sell at a loss to meet the margin call? Lmao at rentcuckswhat if i told you...that you could......trade stocks on leverage?
10-12-2022, 10:40 PM
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#50
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Originally Posted By LinuxJon⏩
Don’t worry you’ll see soon enough - it involves excess amounts of cat urineWe pay like $2200/mo to live in a 4 bedroom home on a large lot, in a luxury private community.
I don't see the scenario where I say "ah we fkk'ed up"
I don't see the scenario where I say "ah we fkk'ed up"
10-12-2022, 10:47 PM
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#51
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Originally Posted By Anachron⏩
i actually make 450k. ded fkn srs.Translation : "I am a poverty rentcel who doesn't have $2K to my name, let alone $200K"
WTH is this, amateur hour?
And that's in monopoly money beaverdollars too.
WTH is this, amateur hour?
And that's in monopoly money beaverdollars too.
225 base 225 bonus.
i save most of my money and have invested it. Right now Im buying sweet treasury bonds for dat dere risk free return.
i simply dont see the need to pay closing costs of 40k and a 5 figure payout to a realtor to buy a home I know I will want to move away from in a few years.
and the market is overheated. doesnt make sense to buy.
Im just rentmaxxing and saving so I barely even need a mortgage.
10-12-2022, 10:48 PM
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#52
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Originally Posted By r32gojirra⏩
Yeah but that'll follow me anywhere I go anywayDon’t worry you’ll see soon enough - it involves excess amounts of cat urine
480s / 370b / 495d / 235 x 2 SOHP
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10-12-2022, 10:54 PM
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#53
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Originally Posted By pondus_levo⏩
i do have 200k lying around (much more), and I am not tying it up in a home right now unless I REALLY like the price.The fact that you posted those graphs only emphasizes that you are not one of the 1%.
The people that have $200k lying around didn't invest in the stock market instead of buying a house. They had enough money to do both.
Please, for the love of God, don't tell me you are a 52-year-old rentcel.
The people that have $200k lying around didn't invest in the stock market instead of buying a house. They had enough money to do both.
Please, for the love of God, don't tell me you are a 52-year-old rentcel.
right now I dont like any prices I am seeing at the current rates. happy to wait a few years and see what happens while I accumulate more liquid cash. would love rates to go up to 10% even (which they probably will), as it will crush the housing market and I can buy all cash and or/drop 50% down to minimize any high rate impacts.
10-12-2022, 11:00 PM
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#54
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Originally Posted By LinuxJon⏩
Which probably makes it worse because you keep repeating the same phukkupYeah but that'll follow me anywhere I go anyway
10-12-2022, 11:07 PM
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#55
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Originally Posted By Anachron⏩
Is that so? Looking at just one bank account(not investments) would tell me otherwise...Thanks for confirming that you don't have $200K to your name.
Any reason you think that?
10-12-2022, 11:18 PM
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#56
- kengriffeyjr24
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- kengriffeyjr24
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Originally Posted By digital022⏩
exactly. i work with lots of very wealthy people. never have I heard anyone brag about being an owner vs a renter. in fact youd be surprised how many people i know who rent apartments for like 6 to 9k a month because they want optionality to move on a whim and would prefer to park their millions in other investments vs buying a million plus property and having exposure to the current housing market.Slumlordmaxxers are incapable of comprehending basic economic principles outside of real estate. The fact there is zero barrier to entry is why they participate. Any tard can buy in and feel like they're living the murrican dream lol. There's even some RE cuck in here thinking corporations are going to buy property at current interest rates. lol
the only people who get really tied up in feeling so amazing at their bank owning their home for a 30 year period are people who simply cant accumulate wealth or retire any other way.
im not anti home owning. i plan to buy a home soon once rates rise more and crush everyone with cash flow issues. but its a little overrated and you are exposed to way more risk (and tied up in fees). and you cannot job hop easily (which again is the best way to truly build your income).
10-12-2022, 11:21 PM
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#57
- Deutschlandbrah
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- Deutschlandbrah
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Remember to tip your landlord, OP.
10-12-2022, 11:28 PM
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#58
- r32gojirra
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- r32gojirra
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Originally Posted By kengriffeyjr24⏩
Says more about your poverty mindset that it never occurred to you that people own properties without having a loan against itexactly. i work with lots of very wealthy people. never have I heard anyone brag about being an owner vs a renter.
the only people who get reallytied up in feeling so amazing at their bank owning their home for a 30 year period are people who simply cant accumulate wealth or retire any other way.
im not anti home owning. i plan to buy a home soon once rates rise more and crush everyone with cash flow issues. but its a little overrated and you are exposed to way more risk (and tied up in fees). and you cannot job hop easily (which again is the best way to truly build your income).
the only people who get reallytied up in feeling so amazing at their bank owning their home for a 30 year period are people who simply cant accumulate wealth or retire any other way.
im not anti home owning. i plan to buy a home soon once rates rise more and crush everyone with cash flow issues. but its a little overrated and you are exposed to way more risk (and tied up in fees). and you cannot job hop easily (which again is the best way to truly build your income).
10-12-2022, 11:29 PM
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#59
10-12-2022, 11:30 PM
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#60
- kengriffeyjr24
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- kengriffeyjr24
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Originally Posted By r32gojirra⏩
not the vast majority of people (otherwise they wouldnt be bragging about the rate they locked in).Says more about your poverty mindset that it never occurred to you that people own properties without having a loan against it
why are prices dropping right now if rates are increasing?
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