Keep hearing normies saying they "bought a house" then you talk to them and find out they actually just got a 30 year mortgage
>>59092444But they have an ownership percentage and ownership rights that rentoids will never have.
>>59092451and debt
I boughted
>>59092444Still beats renting. They own the capital appreciation of the property and inflation erodes the mortgage debt. If you rent you are short inflation.
>>59092444I think the boomer model of being in the same place and planting firm roots is over. We want to move around, work remotely, I don't want to be tied down somewhere. I'd like to be able to move to a different city, not have the next 30 years of my life and my entire savings tied up in some suburban hellscape shitbox. The 30 year mortgage is relatively new, 100 years ago bullshit like this was unheard of. Hence less apartments are built so the mortgage industry can make more money.
>>59092493tired rentoid cope
>>59092478Not to mention tax deductions. It's not a bad gig.
>>59092461Long-term, fixed-rate debt is good debt, though. You pay a fixed amount every month while the currency loses value continuously. If you're renting, then every time your lease renews, you're prone to seeing your monthly payment *increase* with (or possibly even exceeding) the inflation rate.>>59093887Also this.
>>59092493i could imagine living in the same rural area for 30 years. the though of living in the same suburban or urban area for 30 years makes me want to hang myself.
I'm just getting my dad's house after he dies.Nice rural area. Gun range in backyard. The one neighbor is cool. Other neighbor just keeps to themselves.In tye meantime I'm renting with my mom.Simple as.
>>59092493>I don't want to be tied down somewhereDo you need to consooom travellll and take black cock every night in beach resorts in bali? Consoom new experiences and blow all your money on rent because yolo? Do you like the idea of working until you die because you just need to consoom and can't be tied down? If so, you might just be a female-brained retard.
>>59092461You sell the house in 5 years after prices have risen 5% each consecutive year and make a profit
>>59092493It was unheard of because people could just buy land and build a house.And yeah, once you're married with kids just keep moooooving, I'm sure your kids will love having no long term friendships or a chance to develop relationships and memories because you just love the hustle and bustle of traveling and cities, bugman.
>>59094002>what is interest>>59094265>what is inflationmind you, I'm not advocating for renting because that's just pissing money away but it's more viable than if your interest payment would be greater than the cost of rent anyway. Buying a house is the way to go but these are piss poor arguments
>>59094002>debt is goodSlave mindset. We know which tribe loves this.>>59094265>you sell the house in 5 years when it go upThat’s called gambling and buying at the top. You’re disconnected from reality like all boomers.>>59094273>yeah, once you're married with kids just keep moooooving, I'm sure your kids will love having no long term friendshipsThat’s literally how military boomers raised gen x. Always moving and traumatizing their families. Traveling salesmen had the same problem. Working remotely is healthier than anything your generation ever did.
I have two friends who each 'bought a house' with NO FUCKING MONEY DOWN!!They've been virtually paying all interest these past few years!!They talking about 'getting back' what they put into their starter houses to upgrade in the future, but uh, nope! They've basically been renting all this time.
>>59092461You pay yourself.
>>59092478Actually mortgages are far greater cash sinks then renting just these days. At least where I am in BC Canada. The interest is so high it’s more then what you would ever pay for rent. It’s only a better deal when interest is low so you can build a good amount of equity that makes it financially smarter then renting
>>59094281The people you responded to accounted for interest and inflation, dumbass.
>>59092444When Americans mention "30 year mortgages" are they talking about the amortization period or the length of time for which they locked in a rate?
>>59094281>>what is interestNot sure what you're trying to argue here. The interest is baked into your monthly payment from the start, and it doesn't grow over time. After just a few years, that cost has gone down significantly in real terms simply by staying constant in nominal terms.If your intent is to argue that interest is somehow "wasted" money, then you need to understand it as the cost of the money you're borrowing. If you buy a house for 500k and the total interest over your 30-year mortgage amounts to 250k, then you've effectively "spent" 250k to live in your home. You could think of this as having spent that money on rent over that 30-year period. And remember, that 250k doesn't change over that whole time, even though by the end of the loan, that money is all but guaranteed to be worth a lot less than when you started.>>59094293>>debt is good>Slave mindset.There is good debt, and there is bad debt. Loans that last a long enough time frame where the devaluation of the currency becomes relevant, and do not grow in nominal terms alongside inflation, are good loans to take advantage of as long as you can afford them.
>>59094582You gave him alot more time and respect with your answer than I did lol
>>59094579Most commonly, that "30 years" applies to both. However there are adjustable-rate mortgages which have, for example, an amortization period of 30 years but the interest rate changes after 5.
>>59094341Why are normies so dumb
>>59092478They own property in the United States. They are locked down in a country that regularly sends niggers and Hispanics into every town to terrorize you into migrating further away from the cities. “Owning” property in the US is a liability.
>>59094582if your interest is above the rate of inflation, it is no longer "good debt">>59094576>>59094579>>59094586retard
>>59094842Why are housecucks so dumb
>>59094608>>59094846They can't do math. They just "feel" that they need a house but they're poor as fuck so they take on the debt with no second thoughts.
>>59092493What should actually happen is infill development in suburbs. Rope off a small area, this is now your mini-Central Park/hoity-toity burgh, you must Capitalism to afford it (possibly also kicked out or forced to sublet a portion when you retire). Everywhere else: knock down the shittiest houses on the block, build n-plexes on the lots, AT LEAST 1500 sqft with AT LEAST natural light from 3 directions (preferably 1-2 whole floors per unit). Pick a centrally-located lot, convert it to a small co-op for daily goods. Allow for ACUs (Accessory Commercial Units), light industry with pollution regulations. Neighborhood work/study offices so that wfh/homeschool can have healthy socialization. Transit bike paths between neighborhoods, terminating at the nearby large town/city. Every neighborhood should be within a 20 minute ride of a regional transit line, rail or metro or segregated bus lines. Municipal fiber internet.
>>59092451holy fucking coperenting and having a mortage is basically the exact same thing
>>59092451A mortage is just a rent contract where your landlord is the bank.
>>59094874>owning house and paying someone else to own it is basically the same thing
>>59094792>They own property in the United States.You can't even own land in the united states can you? i heard that when you "buy" a land plot there you actually buy the rights to live there, the government cant take your house whenever they want.
>>59092451and they can never take a break from work and have to slave day in day out constantly until the loan is paid off. eventually when they are old they finally own the house. they are 60 now. and paid 3x the house initial price over the time .
>>59094918Yeah you can’t just live in a tent in land the government will send police
>>59094918>the government can take your house whenever they want.Fixed it.
>>59094842>if your interest is above the rate of inflation, it is no longer "good debt"I don't necessarily disagree, but two important things to remember: For one, inflation fluctuates, while your mortgage interest rate remains constant. If your interest rate is only slightly above inflation, then one particularly inflationary year (see: 1974, 1980, 1990, 2008, 2021) can make the difference a wash. And two, when interest rates are low, you can refinance to reduce your total and monthly payment. Then, even when rates rise again, your payments stay at that lower level.
Can someone explain mortgages to me? If you get a 30 year mortgage of $500,000 at 4% interest rate, wtf does that actually mean? How much will you have actually paid at the end of that 30 year period?? Co-pilot tells me I will have paid $859,320 after 30 years. So $500,000 for the loan, $359,320 in interest. Holy fuck, how do people afford this shit? Houses in my area are over a million dollars, so if I were to move out and buy my own place, it would cost me almost 2 million to buy a million dollar house? Is this for fucking real? Is 4% a realistic interest rate or would it be lower?
>>59095037>Co-pilot tells me I will have paid $859,320 after 30 years. So $500,000 for the loan, $359,320 in interest. Holy fuck, how do people afford this shit? Houses in my area are over a million dollars, so if I were to move out and buy my own place, it would cost me almost 2 million to buy a million dollar house? Is this for fucking real? Is 4% a realistic interest rate or would it be lower?Yeah, this is one of the huge reasons of why Jews should be hanged.
>>59095037>too dumb to look up a loan calculator, asks """AI"""30 year rate is about 6.5% right now.
>>59095037don't forget the property tax. which is very high in america. its 1pct of the value of your house per year. so 30 years later you pay another 30pct of that $500k to the state. so you paid 150kproptax+359k interest+ 500k initial is $1MILLION for your 500k house.
>>59095037Housecucks think this is a good deal
>>59094996you didn't necessarily say anything I disagree with either just that in an ideal situation if you have to choose one evil, it would be a low house price and high interest since the interest can always be refinanced away; you will always be stuck with a high price should something happen. We unfortunately live in an age where home prices are at record highs and interest is also high so more than likely, depending on your downpayment, your monthly interest could range from anywhere between $2000-2400 for the first few years. I'd rather gamble and rent for $1600/m for a few years hoping the market cools off a bit and interest maybe stabilizes or goes down before looking to buy a home while the investments I would have used for liquid accrue returns. Believe me I never wanted to ever expected to become a rentcuck but with how the housing market is at this current time and rates not making any sense despite the cuts, it becomes a more viable option daily
>>59094915if you have a mortgage you don't own the houseIt's virtually the same as renting except with one perk that you do have an ownership contract, that's basically itAfter you fully "own" the house, you still technically don't own it since you have to pay property taxes on it which is basically extortion by state mafia not to evict you as soon as you can't afford the monthly "rental" feethe whole system is fake and gay and I used to turn my nose up at rentoids but the more I learned the more I realized they make some valid arguments/criticisms
>>59095377> sells house> recoups payments less taxes and interest. > may have made profits if home value pumpsVs> gives me shecklestien his monthly extortion payment or else gets evicted and homeless> has no way to recoup payments
>>59095377if you aren't going to raise a family there's 0 reason to ever get a mortgage. i guess if you want to raise a family then it's somewhat nice to actually pay the mortgage so your children will inherit something later. that's the only reason.
>>59094265maybe like 1% of people with mortgages do that, for the rest it's a money black hole and they never liquidate it or only sell to buy a bigger house with a bigger mortgage
>>59092444Honestly, if you have parents who already own a house and you go to the bank to get a loan to buy another house for yourself you basically failed at life as a family. Maximally exploiting the opportunity of the previous generation already going through this clownish life waste (at much better conditions) just to repeat it yourself... You'd have to be mentally impaired beyond repair, I mean if you absolutely MUST live in a house alone with your wife, just let your parents buy themselves a nice apartment, but pay the loan (much better conditions etc) for them.
>>59095425>if you aren't going to raise a family there's 0 reason to ever get a mortgagewrong. im an incel with a gf and i want a house so i can have a home workshop.
>>59095499she'll leave you soon unless you make her pregnant.
>>59094566hello fellow BCbroI’m indian btw
>>59094911no it isn't, you build equity with a mortgage, while rent is just a service contract
>>59096022>you build equity with a mortgageMaybe, after 30 years of paying that shit.
>>59094918can you name a single country where the government can't take your land?
>>59096027You can also deduct mortgage payments from your taxes, and there's a tax exemption on capital gains from selling your house if you use that money within 6 months to buy another primary residence. You can use that for a nice tax loophole, where you sell your property after it has gone up in value, then buy a subsequent property in cash and take out a home equity loan after the fact. That way you owe 0 taxes on the appreciation of your house.
>>59096041nobody on biz is going to do any of that. the typical bizanon is single and lives with their parents. they are actually better off than the simps that have to cohab with a femoid, live in the matrix consoooming and signing up for a 30 year death pledge so they can house their future tax cattle slaves they shat out. its exhausting just writing that out. what idiot thinks that is fun to do? the things people do just to get their dick wet...
>>59096308>the typical bizanon is single and lives with their parentsh-how did you know, Anon?
>>59095419in most desirable areas rent is less than mortgage right now. invest the difference.
>>59092444That's what owning a house means. Are you retarded? Who do you think is buying their house outright?
>>59092461If it's a real mortgage (<3%) fixed rate, it's also not like that debt could ever come due or fuck you over in anyway. It's going to inflate less than the currency and if you ever just want to be done making payments you sell the ownership percentage you accumulated and drop the mortgage like a bad habit.
>>59096495i actually plan on doing this so i dont give the greedy bank assholes 100K in interest fees.
>>59096495prices are already insane and people pay double that with 30 years 7%>>59096520who is getting 3%
>>59092444>mfw they say that they bought a house, and then I find out later that it's a townhouse.Lol
>>59095050kek what an absolute scammeanwhile I hold assets that pay me dividends and pay zero property taxes on them
>>59092444>when a normie says their house price went up but it's actually -99% in bitcoin
>>59092461which is a good thing. if somting happens to the house its literally not my problem its the banks
>>59092444CheckedNormies don't even begin to grasp this stuff but you guys don't get it either. "Beating inflation" and "devaluation of the currency" is not some constant of the universe. The money supply only expands because people keep on taking bigger loans. House prices only go up because people keep on taking out bigger loans. Mortgage cucks are crabs in a bucket, trying to win at a ponzi scheme.If everyone thought like this guy >>59096524 then everything would look very different. As it is though, he is potentially putting himself at a disadvantage.
>>59096524except you are still paying the bank interest when you rent. you are just paying it for landlord plus some extra profit for them plus tip
>>59096945yeah and all you get out of it is a place to live that you can do whatever you want with, an asset you can borrow on that historically has gone up in value massively and been safer than any other asset class, the ability to deduct your housing payments from your taxes, and intangibles such as feeling like a stakeholder in society, and the ability to turn away anyone you don't want on your property.
here in Ausfailia, they have started jacking the interest rates on mortgages like crazy the last couple years. people have been losing houses and all the money they put in. meanwhile I have a fat stack of savings and can live out the boot of my car (the back seats fold down) if I can't ever afford to rent.cope & sneed mortgage cucks. enjoy being a slave to the jew while I can dip out and take off anytime I feel like it :)
Hoooomers also brag about "buying" and living in hell hole HOA suburbs like pic related.
>>59096815I forgot to include fire insurance and maintenance costs, other insurances. which is another 5000 dollars a year. so add another $150k.
>>59097439I could never live in a HOA, there is just no way you can tell me I "own" the home but can't do anything to it.
>>59096989I have 7 bitcoins but I am not going to get rid of them to get a LMAO house. I am free now. I rent where I want. my bitcoin goes up 5x harder than house prices. I haven't worked the past 3 years. there's literally no point in getting a mortgage for a house if you have some bitcoins. I prefer renting here and there. I've lived for 20 months in other countries the past 3 years it was amazing. and i wouldn't be able to do it if I had a mortgage debt contract. mort means dead in french by the way. the translation is "deathpledge".
>>59092444what they did is actually shorting the dollar
I bought a houseI took a loan for my cargtkrwn
>>59094566I'm in BC and buying a second property next year, it depends on where you are and what kind of properties are on the market. I'm definitely going to have to charge more rent than I would prefer though. I'm White and 1488 btw
>>59096945I've been living at my mom's. I earn well and try to treat her nice but she can be really annoying. About 1 year more I can buy a place of my own with minimal or no mortgage.>>59096926> As it is though, he is potentially putting himself at a disadvantage.Might I ask how?
>>59092444I'm buying a mansion once EDOG delivers.
>>59092444You can never "own" anything in the current day due to property taxes. If you own a property you still need to pay rent to the government.
>>59095377>>59094874>>59095425>renting and having a mortage is basically the exact same thing>It's virtually the same as renting> there's 0 reason to ever get a mortgageIf they're the same thing, then there's also 0 reason to ever pay rent to a landlord instead? Why would I ever want to deal with a guy getting mad that I'm wrecking the value of his property, wants to do inspections all the time, and doesn't allow me to do repairs while also refusing to do them himself, if there's another option that's exactly the same except it doesn't have some gay middleman leech?
>>59097778>Might I ask how?By being later to the ponzi. Taking a loan is creating new money. Whoever receives the loan gets to use the money first. By the time the money filters through the economy to you, prices have adjusted to the existence of the new money so it's worth less now. So they pay for the money but it's worth more to get it sooner (unless the ponzi ends which most of the time it doesn't).
I missed out on teen pussy and now 30yo women who turned me down back then want me to buy them a bank loan for a house.
>>59098188The housing market isn't moving much where I live. Just kinda stable. And I am saving 100K long term by doing this. Yes, money devalues, but it doesn't devalue 100K. And in the next few years it's extremely unlikely the type of property I want will rise 100K in value either. I'm not saying I'm right and you are wrong, I just don't see how saving 100K is counterbenifitial. 100K is a lot of money to give the greedy bank cunts.
>>59098218I only said "potentially disadvantage". If you read between the lines I was really saying deflation is a possibility that no one ever considers.
If I were to take out a 10 yr mortgage on a $265k house at 5.5% interest and a down payment of $100k, I would be paying the banks almost $50k in interest. Fuck that. Dumb goys only care about monthly payments and don't even care about amortization.
>>59098215>I missed out on teen pussythey wouldn't know how to handle shit anyway
>>59098518They don't need to 'handle' anything, they're simply hotter than hags with body counts in the dozens or hundreds.
>>59098570kys
>>59097669>there's literally no point in getting a mortgage for a house if you have some bitcoinsleveraging your money provides a higher ROI
>>59097670Its actually a good bet
>>59092444unless you are a lucky/savvy investor rentoids, mortgage slaves, and land leeches ALL get fucked about the same in the long run. >rentoids pay and never own shit and have to bow to the landjew but dont have to worry about taxes and insurance or repairs and can move whenever tf they wont>mortgage slaves pay joo bucks to the bank AND the govt but generally a house purchased 30 years ago is going to be worth more than the price + interest paid and they dont have to deal w/ a landjew>landjews usually get good deals on the properties they lease to rentoids but have to pay more for insurance, evict crackheads, fix concrete in the plumbing, chase every dollar, and get sued by other jews for being landjews
>>59097670learnt what interest is lol
>>59098614hag detected
>>59098372This is what always put me off from getting a mortgage. It’s not like they give you the money for free, you have to pay it all back PLUS interest. When you compare that to renting + investing, you’ll probably have enough to buy outright after 30 years when your mortgage is paid off anyway. And you don’t have that crushing debt looming over your head for decades.
>>59096041Imagine living in a country with taxes lmao. I bet you're surrounded by nigs.
>>59092444What color is your house anon?
>>59094921This. Cash flow and freedom beats owning a house in 30 years.
>>59095970i literally don't care.
>>59096815yeah its much better to find a cheap rent and then throw all you can save at the market, youre going to be much richer in 30 years than the mortgage slave who has ratioed much of their free cash flow to a mortgage + taxes + upkeep + insurance costs
the best thing i ever did was find a woman more frugal then mewe have a combined 380k saved while we STILL rent a house for 2k a month. our cars are paid off. we went from looking for 3 bedroom homes to 4-5 bedroom homes with a pool just because of the flat-lining of the housing market the past year.
>>59096308I’ve done exactly what that anon outlined. It’s the most basic thing.
>>59092451Until this miss 2 payments
>>59099032You did? Good for you.
>>59100774>we have a combined 380kits not smart actually. 380k in cash? LMAO. i guess the state thanks you for your contribution (paying the inflation tax)
>>59094002>Long-term, fixed-rate debt is good debt, thoughthis is the kind of thing that generates insane amounts of inflation, dollar becomes worthless when anyone can take out something like this...and poorfags wonder why landlords exist is just a hedge against debt inflation
>>59092478Inflation isn't the only consideration, there's tons of "hidden" costs to ownership. You're on the hook for property taxes, maintenance and repairs to maintain the value, insurance. Depending on the location you might have other costs like HOA fees. There's also non-zero risk of being on the hook for legal fees that needs to be accounted for, e.g. to deal with squatters, deadbeat tenants (if you rent it out), or somebody claiming they got injured on your property. After all that shit you'll come out ahead by renting.
>>59096308Pretty funny how this dude thinks people on a business and finance board aren't doing business and finance thingsI just got my second mortgage on a second house because the current one is 50% paid off.I've got nearly a million in debt at this point
>>59101053we make around 320k a year so we're saving relatively quick. soon as we buy a house we're probably just going to invest more in tax advantaged accounts. I've already begun maxing my 401k, IRA, HSA
>>59098372everybody in this thread is a dumb larping goy mentioning what kind of imaginary waifu they lucked out on and what bigger McMansion shitbox they saved up to buy. what are the facts though? that living in the states is hell unless you're rural and at least a half mile away from a neighbor. literally any other option of homeownership in america is punishment waiting to happen. this is why I will never purchase another home again. the most the matrix will get out of me is $300 a year to rent a house in rural japan. ill keep the rest of my funds in something that doesn't degrade, dilute and need continuous ransom payments to hold onto.
Owning a house is overrated. I have seen my parents suffer most of their best years through a 20 year mortgage. Now they are in their 60's about to retire and the house is paid off which is great but they still have to do repairs, renovate and clean and work around the garden and whatnot in their 60's. They would have been far better off if they rented and put most of their money into the stock market. Less hustle, better returns.
>>59092444I'm buying an estate once BOINK delivers.
>>59092444kek. Between my tactical mortgage refinancing and crazy real estate price inflation, I'm now left with a 28 year mortgage with a 2.6% fixed rate for barely 20% of my home value.I should have taken out some liquidity during refinancing, but I'm timid when it comes to leverage, even with such ludicrously good terms.Anyway, that's like $250K of money I get to invest at much higher returns than 2.6%, and if an anon hurts my feelings by telling me I don't own my house, I'll just have to wipe my tears in all that free money.
>>59100901What’s better than memes now? Honestly, not much. That's why degens are flocking to BOINK. Their user base keeps exploding, and it's not just for show—they’re cooking up something big.
>>59094566It's mostly women driving these retarded decisions. "Owning" a home makes them feel good. It's been an incredible investment for the last 16 years too so good luck convincing normgroids that things are different now just because interest rates are a few hundred bippies higher.
>>59098146The system is set up to force a certain amount/type of people to rent. Usually people without family money/hereditary access to federal subsidies.
