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Forum » Make it make sense - Rentcel Edition
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Thread: Make it make sense - Rentcel Edition

post 1672677643 12-11-2022, 06:17 PM
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Make it make sense - Rentcel Edition

post 1672678943 12-11-2022, 06:41 PM
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<insert rentcel cope about housing prices>

Yeah, that doesn't make sense either.

post 1672679333 12-11-2022, 06:46 PM
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Should have bought butter instead of avocado for your toast.
post 1672679633 12-11-2022, 06:52 PM
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Labourers (rentcucks) expend effort in order to produce ever increasing returns to capital

Capital owners (landlords) use their capital to extract ever increasing value out of labourers

See further Marx, K.
post 1672679793 12-11-2022, 06:54 PM
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She really couldn't get approved for 160k?
post 1672679873 12-11-2022, 06:56 PM
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she would have realized sooner if she hadn't been a turnt paige every weekend slooting it up
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post 1672685003 12-11-2022, 08:54 PM
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Originally Posted By CoolKnees⏩
She really couldn't get approved for 160k?
Boggles the mind.

Move out when you're 18? Sure. Pay that amount of rent over a 12 year period and still don't have sufficient capital or income to put money down on a place of your own?

SMH at rentcels.
post 1672685123 12-11-2022, 08:57 PM
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Originally Posted By CoolKnees⏩
She really couldn't get approved for 160k?
What's 160k, a down payment?
Know Justice

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post 1672685183 12-11-2022, 08:58 PM
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Yeah thankfully I’ve only been paying rent for a few years I’ll have a house by next year or so
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post 1672685433 12-11-2022, 09:04 PM
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Originally Posted By LogicalLifts⏩
Boggles the mind.

Move out when you're 18? Sure. Pay that amount of rent over a 12 year period and still don't have sufficient capital or income to put money down on a place of your own?

SMH at rentcels.
I think she's also a single mom. Probably.
Originally Posted By Ramoneb87⏩
What's 160k, a down payment?
The house I believe.
post 1672686353 12-11-2022, 09:32 PM
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My first house, I bought it with a total of about $2k out of pocket. So far that house has appreciated by more than 60%. The house is now rented and will pay for itself. It's literally free money.

All joking aside, real estate is the most risk adverse and has the lowest barrier to entry for actual returns. Buy whatever you can, as early as you can. And don't wait till you can afford your dream house, buy whatever you can afford today.
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 1672686473 12-11-2022, 09:36 PM
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Originally Posted By Godfrd824⏩
My first house, I bought it with a total of about $2k out of pocket. So far that house has appreciated by more than 60%. The house is now rented and will pay for itself. It's literally free money.

All joking aside, real estate is the most risk adverse and has the lowest barrier to entry for actual returns. Buy whatever you can, as early as you can. And don't wait till you can afford your dream house, buy whatever you can afford today.
Average home prices in Toronto Canada

As per Nov. 2022

Detached house : $1.3m
Semi-detached house: $1.0m
Townhouse: $1.0m
Condo: $0.7m
post 1672686693 12-11-2022, 09:41 PM
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Originally Posted By CoolKnees⏩
Average home prices in Toronto Canada

As per Nov. 2022

Detached house : $1.3m
Semi-detached house: $1.0m
Townhouse: $1.0m
Condo: $0.7m
San Diego has entered the chat

That’s child’s play
post 1672686733 12-11-2022, 09:42 PM
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Originally Posted By CoolKnees⏩
Average home prices in Toronto Canada

As per Nov. 2022

Detached house : $1.3m
Semi-detached house: $1.0m
Townhouse: $1.0m
Condo: $0.7m
Great. Do you need to live in Toronto? Couldn't you move an hour away and commute? I have done a 2 hour commute each way before. But that was temporary. Anything worth having will require sacrifice. I am originally from the NYC metro area. Looked at buying a house there, couldn't afford it, so I moved to VA.
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 1672687013 12-11-2022, 09:49 PM
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Originally Posted By Godfrd824⏩
Great. Do you need to live in Toronto? Couldn't you move an hour away and commute? I have done a 2 hour commute each way before. But that was temporary. Anything worth having will require sacrifice. I am originally from the NYC metro area. Looked at buying a house there, couldn't afford it, so I moved to VA.
That's not possible in Canada lol Most decent jobs are in Toronto and everywhere else is pretty limited.

4 hour commute in the winter time? you're having a laugh mate
post 1672687143 12-11-2022, 09:52 PM
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Originally Posted By Godfrd824⏩
Great. Do you need to live in Toronto? Couldn't you move an hour away and commute? I have done a 2 hour commute each way before. But that was temporary. Anything worth having will require sacrifice. I am originally from the NYC metro area. Looked at buying a house there, couldn't afford it, so I moved to VA.
Oh Jesus

This all makes sense now

Say whatup to bolo for me when you see him flossing that Toyota Camrydante through the hood
post 1672687603 12-11-2022, 10:05 PM
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Originally Posted By WishIWasJawBrah⏩
That's not possible in Canada lol Most decent jobs are in Toronto and everywhere else is pretty limited.

4 hour commute in the winter time? you're having a laugh mate
If you just want to make excuses, that's good, but you'll never get anywhere. If you want to better yourself, it will take sacrifice.
Originally Posted By r32gojirra⏩
Oh Jesus

This all makes sense now

Say whatup to bolo for me when you see him flossing that Toyota Camrydante through the hood
This was nearly a decade ago. I now live in one of the richest towns in the US.
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 1672687723 12-11-2022, 10:09 PM
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Originally Posted By Godfrd824⏩
This was nearly a decade ago. I now live in one of the richest towns in the US.
JFC you had me going for a second there
post 1672687833 12-11-2022, 10:16 PM
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Just buy a trailer rent to own and get it over with rentcels
post 1672688003 12-11-2022, 10:22 PM
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Originally Posted By PantyPirate⏩
Just buy a trailer rent to own and get it over with rentcels
Even if you own the trailer, you will still need to pay rent because a landlord will own the land. Imagine being evicted and having to drag your whole house somewhere else.
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 1672688093 12-11-2022, 10:25 PM
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Originally Posted By Godfrd824⏩
Even if you own the trailer, you will still need to pay rent because a landlord will own the land. Imagine being evicted and having to drag your whole house somewhere else.
just trying to help lol. Or go vancel 😅😅
post 1672688173 12-11-2022, 10:29 PM
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Originally Posted By Godfrd824⏩
Even if you own the trailer, you will still need to pay rent because a landlord will own the land. Imagine being evicted and having to drag your whole house somewhere else.
You can put a trailer on land most places. There are trailer parks where you can buy the lot as well. Moving a trailer is costly AF so wouldn't want to do that too often.
post 1672700013 12-12-2022, 06:42 AM
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Originally Posted By PantyPirate⏩
just trying to help lol. Or go vancel 😅😅
This "van life" thing can't be serious. It reeks of cope, and multiple chits that haven't been tossed...
post 1672701203 12-12-2022, 07:14 AM
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Originally Posted By Godfrd824⏩
Great. Do you need to live in Toronto? Couldn't you move an hour away and commute? I have done a 2 hour commute each way before. But that was temporary. Anything worth having will require sacrifice. I am originally from the NYC metro area. Looked at buying a house there, couldn't afford it, so I moved to VA.
Even if you move an hour away from downtown Toronto you're still looking at seven figures for a townhouse. Those stats are for the entire GTA, which encompasses an area of about a two hour radius all around the city.

The average price of a detached home across the entire province - and that includes northern Ontario - is $830k.
https://wowa.ca/ontario-housing-market

And the problem often isn't the mortgage, it's qualifying for it plus the down payment. The average household income in the GTA for even a small townhouse requires a combined income of over 200k per year and then you have to have at least 50k saved up, which only gives you 5% down. How many people (especially single ones) do you know have that put away?

Most of the people who chime in about owning homes in these threads have been in the market for a decade and they live in smaller cities in the US where COL is low or somewhere like Australia which is a completely different ball game than Ontario. First time home buying for anyone just starting is almost inaccessible now unless you want to buy in a rural place or start with a shoebox condo where you still have to commute for an hour.
post 1672702723 12-12-2022, 07:47 AM
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Rent under $1200 a month doesn't sound too crazy.

And she didn't "buy a home outright" for a rich person unless that home was considerably less than $160K given taxes, maintenance, and perhaps interest.
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post 1672703063 12-12-2022, 07:54 AM
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In on mortgagecuck cope thread
post 1672703243 12-12-2022, 07:59 AM
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Rentcels on suicide watch
post 1672720163 12-12-2022, 01:42 PM
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Originally Posted By ****inator⏩
In on mortgagecuck cope thread
If:

1. A land chad buys an investment property with a mortgage; and
2. Rents it (investment property...) out for at least the cost of the mortgage + other costs; then
3. How is it the land chad who is coping?

In fact the land chad firmly has his part of his economic growth on the backs of those who pay rent.

Anything else is pure COPE.

C O P E
O
P
E
post 1672726623 12-12-2022, 03:41 PM
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Originally Posted By WoofieNugget⏩
And the problem often isn't the mortgage, it's qualifying for it plus the down payment. The average household income in the GTA for even a small townhouse requires a combined income of over 200k per year and then you have to have at least 50k saved up, which only gives you 5% down. How many people (especially single ones) do you know have that put away?
You do realize that there are still people doing this today, right? I mean I know in places like Toronto people love to cry 'foreign wealth!' but I know people who grew up in single parent households, went to Waterloo, and have been working in software development for the past 12+ years (like the woman in the OP) who now own multiple townhouses in Toronto, with their family home in Oakville or whatever. Permanent WFH, Tier 1 salary. It's what 12+ years of expertise looks like.

Inb4 'boomer'. Read the OP carefully, folks. I bet half the rentcel copers on this forum either dropped out of college due to a WoW addiction or the like, or just never took life seriously enough to commit to something like property investment.

SMH.
post 1672727493 12-12-2022, 03:57 PM
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Originally Posted By LogicalLifts⏩
You do realize that there are still people doing this today, right? I mean I know in places like Toronto people love to cry 'foreign wealth!' but I know people who grew up in single parent households, went to Waterloo, and have been working in software development for the past 12+ years (like the woman in the OP) who now own multiple townhouses in Toronto, with their family home in Oakville or whatever. Permanent WFH, Tier 1 salary. It's what 12+ years of expertise looks like.

Inb4 'boomer'. Read the OP carefully, folks. I bet half the rentcel copers on this forum either dropped out of college due to a WoW addiction or the like, or just never took life seriously enough to commit to something like property investment.

SMH.
house prices really only started to go out of control in 2018. and even from then houses and condos are up 30% at least. I mean it sucked since 2015 since Trudeau took power, but now it's really out of reach for most people under 35. So if you were able to buy one on before 2018, it's not nearly equivalent to how hard it is nowadays.

between having to save at least 150K-200K+, you need to be taking home around 7.5 grand a month (maybe around 140K salary?) to begin to qualify. Ofc there might be more shady mortgage brokers that could get you qualified for less. But mortgage is very expensive and who knows how high interest rates will go.
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