>wahh wahh how do people afford nice houses?How true is picrel?What does /biz/ think of living in those homes?
>>61024050nigga took a photo of his screen :wilted_rose:
>>61024056Please discuss thread topic
>>61024050Do these guys not understand mortgages? I could understand if they found the property taxes, mortgage payments, and maintenance costs intimidating. But it's always the cost of the house that's being complained about. Do they think that you actually have to pay 1.6 million dollars upfront or something?
>>61024050Those houses cost half as much 5 years ago and even less before that. The majority of people who were in the real estate market at that time also either financed it at around 3% or refinanced an existing mortgage to that level. Everyone who bought before 2020 is paying significantly less than it costs to buy one now.
why is this board so retarded it cant even screenshot properly?
>>61024050>How do people afford these nice houses that cost a couple of million?Simple they fucking bought before 2020 for half price and now their houses in good neighborhoods are worth 250% more than what they paid. Buy low, sell high. My college friend bought a house in a nice neighborhood for 700k back in 2019. That house is now worth 2.5 million.
>>61024179Mortgages probably and high debt. Those areas arent that nice.
>>61024372I live in the same province. I think those areas are for being buying with mortgages and debt. Wealthier people live closer to the city but still in the housing area.
I live out in the country like 3 hours east and houses are still ~600k for a starter house, 200k trailers ectect... rent is around 2k/month. Town of maybe 6,000 people, nothing more than 20k people within like a 2 hour drive either.
>>61024050I see those same posts in my local California subreddit. They also post about crime they are experiencing. The next posts are about tracking ICE whereabouts and attacking nazis.
>>61024056>>61024359I do this because I’m browsing on my PC and see something I want to share either on the ‘Chan or text my friend, and it’s way easier to phonepost on the Chan or text my friend than take a screenshot in windows using snipping tool and have to wait 5 minutes to post or send the photo when I can just take a pic on my phone and quickly send it that way. Basically I’m just lazy
>>61024421Where I live a 2 bedroom apartment starts at 500k. You would be hard pressed to find a modest home in suburbia for under 1 million. And nothing fancy. A cookie cutter siding house on a half acre that was built in 1990, that was originally 150k brand new. In fact, I can't remember the last time I saw an average 30 year old middle class house that was under 1 million in my area
Guys, believe it or not, picrel is considered middle class in my city.
I have 500k, patiently waiting to buy. waiting until I can buy something outright. then after a few years you leverage that on rental units or cottage.
>>61024447download screenrec and click ctrl+s
>>61024050That's simple, should have bought before Covid.I bought a house for $310,000 in 2018.$1,900 a month rent.It's now worth $600,000
>>61024447>normies think using a screenshot tool is impossible>normies refuse to use the file explorer in their pcMy mom who is 65 can run circles around you. Pathetic.
>>61024050Pooe people I notice are usually so poor they can't FATHOM what people well off do or make. There's like 10 standard professions where you make predictably good money. I could list them here but whatever, here's one:You go to a good law school, you do well and hung out with the partners and after your summer internship you got a job at Cravath or whoever making $250k after bonus your first year. The pay is a sliding scale on seniority, so by year 5 you're clearing over $500k a year. You're basically grinding your ass off 7am-9pm 5-6 days a week, you're still up to your eyes in debt, but yeah you're making money.Anyways you marry another law associate (or a chick in another one of these 10 something jobs) and your combined income is 3/4 of a million to a million bucks plus with further upward trajectory. You pony up what you can, plus a down payment from her father and get a jumbo mortgage that consumes basically everything you don't spend on your nanny, new Gwagon, and trips to Vail.Anyways I'm not saying any of that is a good life but it's really describable. Your neighbor is an orthopedic surgeon married to a radiologist, your other neighbor is a hedge fund manager with a wife who is a tenured psychology professor. Etc etc
>>61024050At this point I don't care how high house prices are, I simply will not buy them.I will continue to rent in my rent controlled apartment for 20% below market rate (and growing) and saving an additional 30k+/year. Just from having this extra money invested over the years it's already made me a millionaire. I could buy a house in cash if I really wanted to but the financial cost is simply not worth it.So these high earning wagies can keep stretching themselves to the limit, over leveraging themselves to the max to keep propping up this retarded housing market. They can be miserable in their mcmansions that they spend all their income on but only spend 10% of their time inside, it simply doesn't matter to me. I'm not going to buy their bags when they decide to downsize from getting old, or move away because our country has gotten too shitty (lol).In 20 years when the average mortgage is 20k/month, average rent is 10k/month, I'll still be paying just 2500/month from my palace in the sky, enjoyed 20 years of unlimited free time in retirement while my portfolio has exploded to 8figs, where even if the housing market keeps growing I'd still be able to buy 5 of their houses if I wanted.My costs are low and fixed and untouchable. No matter what happens, I win.
>>61025873>My costs are low and fixed and untouchable.Your costs are fixed until your landlord decides to evict you to perform "renovations" and the end of your next lease and then put it back on the market as a "luxury" apartment for 3x the rent, because rent control doesn't apply to those.
>>61024507I'm in this same position, but I just came to the realization that the capital is worth far more than a house. An ETF like TQQQ goes up by like 15-20% per month, $500k dropped into something like that would go up $100k every month and as long as you avoid big draw downs like the trump tariff panic and 2022 you can literally grow your money exponentially. Once you buy a house and turn your hill of money into a pit in the ground that you have to spend 30 years filling up, you will never be able to escape the wage cage, your portfolio literally goes 100% into something that might not appreciate and actually will depreciate once the boomer dieoff arrives.
>>61025873This is how I feel too.Renting and buying bitcoin already made me a millionaire. Why would I quit now to buy an inferior asset and end up behind financially?
>>61025769> Anyways you marry another law associate (or a chick in another one of these 10 something jobs) and your combined income is 3/4 of a million to a million bucks plus with further upward trajectory.Kinda us, combined income is $350k. Which is a lot but a home in our area not surrounded by niggers is at least $1.3m. It’s doable though.
>>61025873We pay $2,400 a month in rent. A mortgage for a decent home here is $10k a month. Sure, you’re building equity but is your home appreciating by at least 7 percent a year? If not, it’s a total scam to get a mortgage. At least right now it is, until interest rates come way down.
>>61025894The owner is a property management company with several midrise apartments, all by the book, not some rinkydink boomer landlord.While they can go through a legal process to evict me while they do renovations, IF they do decide to do that, they need approval from the landlord and tenant board, give me 120 days notice, and give me right to return at the same rent I was paying before the renovations - not the new market rent.They can refuse but then the landlord and tenant board can make them pay me 12 months rent plus moving expenses, plus the rent difference while I was living somewhere that charges more, and fines.So, best case I get to enjoy below market rate rent indefinitely until I decide I have enough of living here.Worst case I get a nice 5fig payout from all the trouble, which I can either use to travel around cheaper countries and have even more money. Or maybe at that point I'll consider buying.Either way, I win.
>>61025922That’s why true home ownership is the real wealth divide.
>>61025922Exactly, between crypto and index funds giving such good returns, why would I bother overleveraging myself for a house?>>61025961I pay $1675/month for a 2 bedroom, 2 bathroom, 1 den, 1000sqft, insuite laundry + indoor parking. Market rate is $2300/month for this same place.I could get a mortgage for a decent house at $4220/month, but then there's $690/month in maintenance, plus $400/month in property tax. Plus at least a 58k downpayment has an opportunity cost of at least $200/month.Basically costs $5510/month for 25 years, before dropping down to $1090/month, and locking away close to a million in capital.Might be worth it if I had a working wife or kids or if it was a duplex, but with just me it just doesn't make any financial sense to pay 3x more, that's money that can better be used to compound my portfolio.Maybe if I was older and close to getting OAS+GIS and needed to minimize my income to get max gibs it would make sense to buy just to show a lower cashflow.
>>61024078I have a couple friends who live like this. An 800k house with a 6k mortgage, new cars, vacations, etc.
>>61025765Zoomers are fucking retarded
>>61025873>>61026021>i don't buy a house because blah blah blahI sit on my back porch overlooking my 100 acres of trees, shoot automatic weapons, deer, and hogs. See a couple bald eagles every so often during hunting season.You don't buy a house because it is the best investment gaybo.
>>61024050Redditors will rend clothes and gnash teeth about housing and why we need real communism now, and then EXCLUSIVELY stay in Airbnbs when they vacation/travel despite there being plenty of vacant hotels.If you stay in short term rental properties, you have 0 (zero) right to complain about housing. None. You are paying someone to keep a home empty.
>>61026225>100 acresProperties with that much land start at $1.8M anywhere within a 5 hour drive around me. Completely out of reach. Waving that in my face is the equivalent of a mansion.Yeah I'm sure it's awesome living in a rich place, I'm not rich, that's why I'm living below my means to get financially ahead. It's not like I like sharing walls in an apartment. Understand now?>shoot automatic weapons, deer, and hogs. See a couple bald eagles every so often during hunting season.Sounds fun, wish I grew up in a family that hunted, or at least did shooting, I've never had the opportunity.
>>61025961>We pay $2,400 a month in rent. A mortgage for a decent home here is $10k a monthThat's odd. In Europe rent is usually higher than a mortgage monthly payment, and you say you pay a fraction of it?
>>61024447there's lots of computer illiterate retards like you these days. I have a niece who didn't learn how to type until she was in college, she typed on the keyboard with her index fingers like her great grandpappy. Don't forget to wash your laptop in the sink after your done taking a "screenshot" kek
Median home price is going up because luxury housing is becoming more appealing to developers. High taxes and regulations make building more expensive so it becomes more viable to build luxury homes. Can't build $300k houses if taxes and regulations take away most of the profit.Also induced demand by mass immigration but I think OPs post is more about luxury homes.
>>61024050quarter of a 1/4 of a million is $62.5k a year. I earn 68k and can't afford a house wtf
>>61024050>Browses reddit>takes a photo on phone instead of using the built in screenshot application Zoomers really are computer illiterate
Going from least to most fortunate:They took out a mortgage with 0% downThey co-sign with their wives/husbandsThey have high salariesTheir parents helped with their down paymentTheir parents gave them a house or condo entirely
If I didn't have over 2 million right now (I do) I'd fucking kill myself from all the truth pills on this fucking board.
>>61024056K e k
>A quarter of 1/4 millionWhat a retard
