How the fuck are people affording homes
Nobody buys concrete wood boomer boxesthe USA, UK Canada and Europe are 3 months from a situation that is going to make Everlast look like a mild correction
>>62044732Most buyers have jobs and a mortage
>>62044732people paying in cash is at an all time high. homes are still reasonable if you're willing to live in a less desirable area (city of 100k or less) i bought last year, 140/sq ft
>>62044732>>62044736>>62044852>>62044860Indian government gives homes to the homeless low caste people for freehttps://en.wikipedia.org/wiki/Pradhan_Mantri_Awas_Yojana
>>62044732>Get a job that a highschooler wouldn't have done 40 years ago if you're going to college. Live in a higher cost of living area only if your pay is disproportionately high because you live there (eg. Biglaw in NY or software development in SF pays multiples of what it would in boomerville)>Don't spend your money on avocado toast, juices and similar invented luxurious "necessities" foreign to someone 50 years ago>Treat food delivery services like they would have been used 40 years ago, something for a special occasion, if people were too sick to cook or go out or if mom had to go to a parent teacher conference >Eat out rarely, mostly cook your food at home from simple, unprocessed ingredients someone would have recognized 50 years ago.>Likewise don't blow your money on a new car to have fancy features you don't need when a car from 2005, 2010 can make it to 250k miles with minimal issues.>"Dang if you live like people did back when they could afford houses then you can afford houses"
Interest rates have no choice but to go up in the medium/long term, even if they stay the same or lower in the short term.If you were going to be a mortgagefag (Couldn't be me lol) then it's a choice between suffer now or suffer more later.
>>62044952Holy shit this anon literally just said skip the avocado toast.What boomer site did your LLM scrape that answer from?
>>62044732
>>62044732Can only speak for myself. I just paid for it. No loan.> But Anon I don't have enough money for that yetThen you could wait until you do.
>>62044732I bought two back when interest rates were zero. Why didn’t you?
>>62044732Why would anyone buy a house for 5-10% down. Isn’t that dangerous? Plus it costs more in the long run? 20% down seems better. Thoughts?Is owning a house REALLY life or death the way things are going? Why not rent cheaply (I pay $820)
>>62044910We have homebuyer assistance for the lowest caste people in the united states too.
>>62045202Material conditions.
>>62044732Have you tried NOT buying a home from a bank/realtor?>>620451856 7>>62045234>Why not rent cheaplyUh no thanks, I prefer paying ZERO rent by owning my home.Paid 40k for mine and fixed it up myself.You know how to nail and cut 2x4s, don't ya?
>>62044732Getting a mortgage now is a terrible, terrible idea.We're on the brink of a global economic collapse that is going to force millions of people into bankruptcy as they were fooled into over-leveraging their positions.The worst thing you could do right now is buy something that could well be worth 50% in a years time.If you already own a home outright, then it doesn't matter because 1 house is worth 1 house.Governments across the West have been falsely inflating property values using taxpayers funds for about three decades via mass migration and subsidised rent.The music is going to stop.
>>62048009>2 more weeks!
>>62045234I put 15% down when I bought about 6 months ago. Bank offered a better rate if I put 15 instead of more. But hey, double payments for a while now, so it's fine.>t. 5.75%
>>62044732The oil crisis will cause mass foreclosures if Trump doesn't do a $2 trillion economic bailout. If he doesn't do a bailout, which he is almost sure to do, housing prices will collapse because of all the foreclosures, banks will crash, and interest rates will go to 15%.But Trump might do a bailout. It may have to be $4 trillion.
>>62051991That will only hasten the demise of the US economy as they're already struggling to pay the interest on borrowing and would further devalue the dollar, causing even more problems. That might well be Trump's goal at this point.
>>62044860>404 jobs not found
>>62048009how the hell would that happen... housing isn't stocks. you didn't even get a 50% drawdown in '08 also fyi we have fixed rates in the us a huge % of homeowners are locked in at sub 4% rates right now and therefore monthly payments are only a few grandthey aren't going anywhere and can easily weather any downturns
>>62053082Because:1. The government is running out of money.2. apparently, AI is going to make millions of middle-class people redundant.3. There is a global economic collapse being engineered that will crash governments around the world.4. The Gulf states which have been major investors in US stocks for the past few decades are seriously fucked and will likely cash their stocks amd bonds out to help fix the damage caused by this war, likely causing a stock market crash.
I put zero down on my house. 6% interest but you should make 8% a year in s&p. But you have to pay tax on returns. But also the mortgage becomes less every year with 3% inflation. In 10 years it’s like you’re paying 75% of your mortgage and in 20 it’s like you’re paying 55% of your mortgage
>>62045185>anon says you should live frugally>BUT I DON'T EVEN BUY STARBUCKS YOU FUCKING BOOMER!?Struck a nerve
>>62046801Your rent is property tax and it most certainly is not $0.
For rentoids:1. Buy buy now and refinance later (when home prices are a lot more). or 2. Keep renting and wait for lower rates and then buy (when home prices are a lot more). Renting is still currently the scam.
>>62044732>FOR SALE: PLYWOOD BOX>NEW CARPETS '87>FRESH PAINT '93 (SHERWIN WILLIAMS)>ALL ORIGINAL SIDING (DONT MAKE EM LIKE THIS ANYMORE)>$983K NO LOW BALLERS I KNOW WHAT I GOT
>>62054256>P-please buy my boomer boxnolocked in a rental price that was 10 years ago 5% over market price and is now 30% under market price. The land lord thought I would move after a year or two and signed a forever contract. I have no intention to ever leave
>>62054857WTF is a forever contract?
>>62044910what the fuck does a bunch of fucking brahmins and dalits have to do with this shit? > t. jutt chad w 6.5 incher
>>62044860>>62053024The biggest benefit of living in a city was more job opportunity and higher pay but not that rent and crime in those areas is higher than any other area of living, you’re better off just living in a low cost of living area and working remotely if possible.
I just wander. Buying a home and having a family isn’t conducive anymore
The interest rate for a mortgage is the last thing that makes buying a home a scam. The permits, insurance, they are engineered to last only 20 years and build by mexicans to last 10 years, and basically everything in your house is poisoning you. The paint, the drywall, the osb, the carpet. You'll notice its completely possible to build a home that needs none of the above, but they aren't selling you one.
>>62055096A contract that has no term limit. No renegotiation on rent. The landlords property taxes increase while he has no option to increase rent as long as I don't move out, which is never going to happen, unless of course I find a place even cheaper, which is likely not going to happen.
>>62044732People make more money than you.People have been working longer than you and have more earnings/savings.People have equity from their previous homes.People have money from stocks/crypto.People didn't go into student loan, credit card, auto loan debt.
>>62055743>Please have demand for my bagNo. Your bag was used as collateral. The BoomerX is in distribution and making sure your bags price discovery goes down, way down. If you haven't got rid of bags latest in November 25, you never going to make a profit in real terms every again
>>62044732You can't buy a home, you still have to pay rent (property tax).
>>62044732Yes
>>62044860And this is for the houses in my area middle of the country small farm towns of 2-15k people Ontario.
>>6204518660% of Americans own their own homes and most of the 40% that don't deserve to be poor. What's wrong with what Trump said here?
>>62054295
