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Forum » Wealth manager: Buying a home is 'usually a terrible investment' srs
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Thread: Wealth manager: Buying a home is 'usually a terrible investment' srs

post 1670120583 10-26-2022, 02:37 PM
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Originally Posted By Midi77⏩
What a joke, yeah, but where will you live? You'll still be paying rent and it goes up, except for taxes, your mortgage stays the same. It's probably a wash with upkeep BUT you are building equity. Also, you can do a lot of housework yourself if you have an aptitude to learn and have some initiative. You can double your home value, do a lot of the work yourself and build equity that way. Can't do that "renting"
Maybe you need to read the article twice for you to understand it?





















Which is not surprising for a homecels srs
post 1670120613 10-26-2022, 02:37 PM
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Originally Posted By Anachron⏩
Wow, a rentard gets it right?
It's likely that I own more Real Estate than anybody else on the Misc. But I don't own a Primary Residence.
post 1670120733 10-26-2022, 02:38 PM
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Some people buy houses so they have a place to live, and can at least sell it and get some of their money back eventually. Not reall a serious investment.
post 1670120763 10-26-2022, 02:38 PM
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Originally Posted By OliverHeldens⏩
It's likely that I own more Real Estate than anybody else on the Misc. But I don't own a Primary Residence.
Based,


srs
post 1670120783 10-26-2022, 02:39 PM
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Originally Posted By ThatGuy950⏩
Translation: don’t invest in something I can’t sell you, spend your money with me instead



L just lol at listening to a salesman
Next thing you know, a used car salesman is going to tell OP that buying a car is better than taking the bus.
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post 1670120813 10-26-2022, 02:39 PM
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Originally Posted By BigTimeOperator⏩
Some people buy houses so they have a place to live, and can at least sell it and get some of their money back eventually. Not reall a serious investment.
This is how a primary residence should be viewed
post 1670120833 10-26-2022, 02:40 PM
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Originally Posted By EasyPassive⏩
Young homeowners in particular have figured that out the hard way: Underestimating the hidden costs is the No. 1 reason millennials who do own homes have regrets.
This is exactly my problem with the homeownercels here. They always down play the costs of homeownership. It's only cheap if you live in the middle of nowhere like most of the boomer miscer homeownercels.

If you live in a city, your best option is to buy a condo.

Brb HOA fee's = 1500. + mortgage + hidden fee's. You are paying far more than rent.

Homeownership is far more expensive and stressful in general.

Renting is always cheaper.

That's why it's hilarious these boomers attacking rentcels. They just forgot what it was like when they were younger.
post 1670120853 10-26-2022, 02:40 PM
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Originally Posted By desslok⏩
Next thing you know, a used car salesman is going to tell OP that buying a car is better than taking the bus.
You'll need to ride that bus soon bud,

Or sell your home at a 50% discount LMAO
post 1670120903 10-26-2022, 02:41 PM
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Bro why would the person selling you a loan not tell you that it's a great decision?
post 1670120913 10-26-2022, 02:41 PM
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Originally Posted By bicmane123⏩
This is exactly my problem with the homeownercels here. They always down play the costs of homeownership. It's only cheap if you live in the middle of nowhere like most of the boomer miscer homeownercels.

If you live in a city, your best option is to buy a condo.

Brb HOA fee's = 1500. + mortgage + hidden fee's. You are paying far more than rent.

Homeownership is far more expensive and stressful in general.

Renting is always cheaper.

That's why it's hilarious these boomers attacking rentcels. They just forgot what it was like when they were younger.
They are low IQ and coping hard srs LMAOOOOOOOOOOOOO

Look at them being all triggered in this thread just fk LOL
post 1670120923 10-26-2022, 02:41 PM
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Originally Posted By bicmane123⏩
This is exactly my problem with the homeownercels here. They always down play the costs of homeownership. It's only cheap if you live in the middle of nowhere like most of the boomer miscer homeownercels.

If you live in a city, your best option is to buy a condo.

Brb HOA fee's = 1500. + mortgage + hidden fee's. You are paying far more than rent.

Homeownership is far more expensive and stressful in general.

Renting is always cheaper.

That's why it's hilarious these boomers attacking rentcels. They just forgot what it was like when they were younger.
False.
Originally Posted By EasyPassive⏩
They are low IQ and coping hard srs LMAOOOOOOOOOOOOO

Look at them being all triggered in this thread just fk LOL
post 1670120983 10-26-2022, 02:42 PM
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Originally Posted By JayCeeDenton⏩
Bro why would the person selling you a loan not tell you that it's a great decision?
You mean the real estates agents selling the ¨ a home is the best investment ever right?

just fk LMAOOOOO
post 1670121093 10-26-2022, 02:43 PM
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Originally Posted By Polaris⏩
False.
Okay, renting is cheaper in reality for 99% of people. Especially younger folk in their 20s and 30s.

Absolutely fukn true.
post 1670121193 10-26-2022, 02:45 PM
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Originally Posted By bicmane123⏩
Okay, renting is cheaper in reality for 99% of people. Especially younger folk in their 20s and 30s.

Absolutely fukn true.
It's a defense mechanism they have, they just can't see reality anymore it is too painful for them just fk LMAOOOOOOOOOO

brb going to go work on my roof and cut my lawn LMAOOOOOOOOO
post 1670121263 10-26-2022, 02:47 PM
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Originally Posted By Anachron⏩
Yes, because then we are comparing apples to oranges.

No one buys a walk in closet, but people rent them.
Inb4 paying less for rent due to having 4 roommates = "renting is cheaper".
post 1670121473 10-26-2022, 02:52 PM
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Originally Posted By EasyPassive⏩
Mortgages payments are every two weeks....sometimes every week LMAOOOOOOOO
I wouldn't know. Imagine having a mortgage of any kind. llllooooooooooooooooooollllll.
post 1670121553 10-26-2022, 02:53 PM
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Originally Posted By tripod29⏩
I wouldn't know. Imagine having a mortgage of any kind. llllooooooooooooooooooollllll.
Imagine living with your parents and even worse they are homcecels LMAOOO
post 1670121573 10-26-2022, 02:53 PM
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Agreed, but that doesn't mean it's a bad purchase either. A house is something to live in, not make you rich. People who buy houses to make money work on fixing them up to flip them for a higher cost. They don't just buy them and jack off for 12 months then sell at a higher price. There's work done to the house.

Most people buy a house to live in it though. That's its function at the end of the day and totally worth it in the long run. Does anyone here regret purchasing your car because you weren't able to sell it for 10x what you paid for it 15 years later? Of course not, that's stupid. Why would you expect your house to increase your net worth significantly after you lived in it for 30 years?
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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post 1670121623 10-26-2022, 02:55 PM
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OP, you are 100% correct. Never buy any property. Keep getting over on us mortgage cucks by paying us rent.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1670121663 10-26-2022, 02:57 PM
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the investment is living in and enjoying the house
lol at the thought of making money off it. maybe if you flip it after 6 months and a market surge
overwhelming majority will never "make money" off their house but getting back a large chunk while getting to enjoy the property is the real win

especially in high tax states
post 1670121853 10-26-2022, 03:03 PM
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#51
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The renter cope is very strong this past week. It's pretty sad honestly. You can just imagine OP sitting behind his screen with tears in his eyes furiously tapping away at his keyboard making giga-cope threads like this and many more.
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post 1670121863 10-26-2022, 03:04 PM
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fuark, imagine having your money tied up in the markets but rentceling somewhere and having landlords walk through your living space if they feel like it and listening to your neighbors make noise

jfl
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post 1670121893 10-26-2022, 03:04 PM
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Originally Posted By lightsarefallin⏩
The renter cope is very strong this past week. It's pretty sad honestly. You can just imagine OP sitting behind his screen with tears in his eyes furiously tapping away at his keyboard making giga-cope threads like this and many more.
Trolling aside, the article is pretty much reality.
post 1670122173 10-26-2022, 03:11 PM
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Good thing I bought my house to live in as its not my retirement
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post 1670122313 10-26-2022, 03:13 PM
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Originally Posted By EasyPassive⏩
¨ Over time, your home might increase in value, Mallouk says, but it probably won’t appreciate enough to offset all of the costs. Instead, if you took what you’d save from not buying a house and invested it in something that’s likely to grow in value, such as stocks and bonds, chances are you’d end up with more money in the long term. ¨

Wow! No wonder homecels are so triggered.

I'll stop making fun of them srs, now I feel bad
Rentcels, when will they learn?

I bought my home in 2007 for $555k. When all is said and done, after my 30 year mortgage is paid off, I would have paid $883k in principle, interest, and taxes. When my loan is paid off, my home will be projected to be worth $1.4 million. Which is an annual appreciation of 3%, a VERY conservative number for California considering it averages 5%.

If your rent is $2000/month, after 30 years you spent $720K and own NOTHING, while all I will have to do is pay my taxes.

Please, tell me again how that is a bad investment? It's not like you can take that $720k and invest it, you need it to pay your rent. Which is due in 6 days, BTW.
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post 1670122353 10-26-2022, 03:15 PM
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Originally Posted By pondus_levo⏩
I bought my home in 2007 for $555k. When all is said and done, after my 30 year mortgage is paid off, I would have paid $883k in principle, interest, and taxes. When my loan is paid off, my home will be projected to be worth $1.4 million. Which is an annual appreciation of 3% a VERY conservative number for California considering it averages 5%.

Please, tell me again how that is a bad investment.
Lol at thinking your home will be worth $1.4M with interest rates at 7%.
post 1670122423 10-26-2022, 03:16 PM
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Originally Posted By Godfrd824⏩
OP, you are 100% correct. Never buy any property. Keep getting over on us mortgage cucks by paying us rent.
This

Renters got us good
post 1670122593 10-26-2022, 03:19 PM
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Originally Posted By Anachron⏩


They're actually in a specific area of Real Estate that have increased in value during the last year and typically are the best CRE asset class during recessions. Just signed fresh leases for next year at a 10% increase.
post 1670122613 10-26-2022, 03:19 PM
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Originally Posted By OliverHeldens⏩
Lol at thinking your home will be worth $1.4M with interest rates at 7%.
They can't do math srs LMAOOOO
post 1670122673 10-26-2022, 03:21 PM
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#60
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Lol @ people mentioning famous fraud Robert Kiyosaki
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