>he includes plywood box equity in his net worth
they were talking shit for the LONGEST time, so glad to see mortgagefags eat shit
>>61027478once you understand that the bank gives you a toaster for opening a checking account and a house for taking out a mortgage then you can start to make wise financial decisions in your life like an adult.
>>61028844once you understand that a plywood box on half an acre cannot cost more than $150k, you can wisely avoid falling for one of the biggest scams of the last 20 years
Home prices need to drop by 25 percent, and the interest rate needs to be cut in half for a mortgage to be worth it. Otherwise, you’re losing buckets of money when it can be in the market.
>>61028844no anon you have it backwards. when you take out a mortgage you buy the bank another plywood box with the interest payments.
>>61028976so youre poor, got it
>>61027478>had a balance of 16,000 in my bank, felt poor>connected my 401k to my bank as an external account>balance is now 108,000Problem?
>>61029107… we can get a home but it’s a waste of money beyond saying I own something. Maybe learn math.
Sorry, rentcucks, prices are not going down
>>61029451im 38 years old with a $1.8 million net worth and i live with my parents
>>61029046Total cost of loan should be half of what it is in your screen shot kekkk. Nice HTML Edits, crooked nose.
>>61029451I am 27 with a network of 2.5m and I live with my parents.
>>61029267Its cause the home would be a big portion of your networth. This is why home ownership is a nice area is such a big wealth gap. Thats why someone who owns their home and is not affected at all is much richer and further ahead. You pretty much said you cannot afford my area without it affecting you financially. Stop being emotional dumbass. This is why location location location matters. And why “just a million dollar home” is so out of reach for most people.
>>61029267>waste of moneyFor you. Home prices in prime locations never drop. Only the suburbs and rural area and condos, I guess. You brokies are always so defensive. Look at how ignorant your posts are. >muhh homes are over pricedddd>I could just put it in the marketttbro sybau. If your networth was x5, then suddenly the price of homes dont matter. lol.
I'm 28 and live in my car with $500 nw
>>61029451Anywhere desirable has homes going for 1m minimum. So you need minimum 200k income or dual income. So you will need to slave away and/or co-own a home with a female who will give you shit because you are now her equal in her eyes. Shitty living arrangements. You cannot call yourself a man if you do not own your own home. or at least earn a lot more than your wife to keep her in line.
>>61029644>>61029660Every day, I am reminded that the state of math and economic literacy in this country is in shambles. Even if I had $10 million dollars, the opportunity cost of owning a home or obtaining a mortgage is crazy versus keeping funds in the market. And the longer I wait, the bigger house and property I will have compared to yours.
>>61029580are you retarded? https://www.bankrate.com/mortgages/mortgage-calculator/
>>61030115Okay, then make it 20 million. And this is why people already owning those homes are so far ahead.
>>61030115There are people so rich they buy those homes with cash and dont care. Your comparisons of viewing this topic is so low lol. By the time you have “enough” those home prices have shot up even more especially if they are in desirable areas.
>>61030115Exactly. Youre pretty much saying even multi millionaires cannot comfortably afford a multimillion dollar home lol. Wealth gap and location location location is wild now huh
>>61030115Seem like the wealth gap is really really big now huh.
>>61030177It must make you mad you don’t know how to use a calculator. That not realizing that not all homes in all areas appreciate at the same rate. Personally, I’m fine. Good luck.
>>61030197Personally I live in those homes.
>>61027478My plywood box has a view of the ocean and is in a white neighborhood
>>61030197location location location babyYou’re talking so much shit about>i can afford ityou clearly cant if it affects you. Dumb ass.
As annoying as the nerds ITT are, they’re right that buying a home for purely financial purposes is dumb. But you also have to be a major autist to look at homeownership as being about maximizing ROI. Watching my kid run around in our backyard is more valuable to me than a few extra percentage points of growth. But for all the single dweebs out there, the noneconomic benefit of homeownership is basically having more options for customizing your gooncave. You are better off living in mom’s basement.
>>61030305> Watching my kid run around in our backyardYour kid is retarded. I have never played in my backyard.
>>61030115The longer you wait the less life you have to live. You realize life is finite and there a good chance you’re dead between 60-80 years old.
>>61030305>single>retired at 30>location location locationTell me why this is bad.
>>61030329My kid is absolutely based and when he has his little friends over and they play back there it is best.
>>61027478The state legislators in my state are retarded and are probably going to do something like abolish local property tax so I don't want to have any real estate assets here that poor governance can tank.
>>61030339>double replying to me lol you are coping hard
My house is over a hundred years old now pretty sure plywood wasn't even invented when it was built.
>>61029451It's going down forever Laura
>>61030305>you also have to be a major autist to look at homeownership as being about maximizing ROII always feel grossed out when I see financial advisors steer families away from owning a home in favor of renting in order to make number go up more efficiently. It's technically correct, but sacrificing your family's comfort in order to make an imaginary number go up feels... incorrect, like we got lost somewhere as a society
>>61029451Check the zestimate roastie, they're going down.
>housing will surely continue to be unaffordable forever and the number will never come down>zoomers are murdering blackstone executives over it but that's totally normal and all of the social unrest will magically go away
>mortgages a 200k house with 0% down>450k mortgage @ 6.35% for 30 years>248k in interest over 30 years>fees and fees and fees>ultimately pays 685k to own said house>still pays HOA fees, taxes and maintenance once you own itGuys look, that house is now worth 650k, totally ignore the fact you basically paid for two houses instead of one.
>>61030647Meant to say mortgages a 400k house
>>61030636The blackstone killer was actually targeting the NFL for the CTE issue. He didn't even realize that Blackstone was in the same building
>>61030655His financial subconscious lead his bullet towards the Private Equity executive.
Considering property values aren't dropping where I'm at and that I've accrued at over 175k in plywood box equity since 2019, I think I will include it, thank you very much.
>>61030576>sacrificing your family's comfort in order to make an imaginary number go up feels... incorrectyou got it wrong: the comfort is imaginary, the number is real
>>61027584Aussie real estate is booming
>>61029115dangerously based
>>61028976the privatization of fannie mae will help
>>61028935Priced out
Rent just increasedSorry, not sorry Rentcucks
>>61027478y-you dont have your entire net worth in a checking account.. r-right op?
