The science is settled. You should rent not own.
Yet another resounding victory for science denial
>>62328098How?
the science is settledthats why nobody has ever made money in real estate
>>62328665It's true
At what point will housing prices reflect the actual value of the property rather than speculative demand?
>>62329998when dead jeets are dangling frome the wires
>>62329998Once fiat money is turned off.
>>62328084Who asked retard? You think people take advice from retards online who say dumb shit like this? If you're mortgaging for 500 years sure it doesn't make sense. But just buy something cheap. Pay cash and fuck you.
I refuse to click any video with a thumbnail like that
>>62328084WTF? I hate my house now
>>62328084The prices haven’t gone down where I live in Canada and rent is also crazy
>>62328084I realize it doesn't make sense to buy property unless it's less than 10% of your liquid net worth.
>>62328084Link to video: https://www.youtube.com/watch?v=aU7v87EhDBI
>>62330866Thats a bit extreme. Maybe if you live out of your brokerage and have no job. If you have high income, youre leaving a lot of deductions and tax tricks on the table. Underatandable if you dont want to deal with it though.
>>62328084>>62330880this assumes you are investing in the stock market in the first place, doesn't it? what about bank cds instead?also, obviously owning a house is better if you dgaf about buying as investment.
Regardless of investing, renting you end up having nothing to show for it, but each mortgage payment on your own house is building equity, even if you don't pay it off in full you have built up some equity. Renters have.....nothing. The investing you do with the rest of your money is irrelevant to the discussion.
too late, I already own
>>62332505I think housing maintenance catches up fast if you’re a not flush with cash. Plus closing costs and property tax, etcThe money that went into that could have instead been put into stocks and all your maintenance hassles handled by your landlord.
>>62328084It's psychologically easier to invest if you own property first. The stock markets are volatile, and people usually don't feel comfortable having most of their money in a volatile asset unless they have basic housing needs guaranteed.
>>62328084That's what you get for buying land in a god-forsaken swamp or some dusty shithole instead someplace people actually want to live.
>>62332505Go look at an amortization schedule and try again. If its not appreciating you wont have shit for equity beyond your down payment after even 10 years.
>>62328084>You should rent not own.And you SHOULD be happy.
>all these poors coping with their shitty housing because it saves them moneyGuess what? Housing isn't about saving or making money, who cares about that, it's about living a decent life, like sure I could save money living in some shitty cuck apartment, but my quality of life is vastly higher in my house on the water living with great neighbors in a safe neighborhood. Monetary returns should always be a distant second to quality of life when it comes to housing unless you are like super poor
>>623325245% appreciation every year has been happening for a hundred years
>>62332575This. Sharing a wall with brown people vs. having a comfortable living space, it's no contest.
>>62332505Why is house ownership discourse always centered around equity this and equity that? It's like every literature about financial impact of home ownership was written by hedgies for hedgies. I don't give a fuck about about appreciation of fuckshit that doesn't even generate dividends. I don't give a flying fuck about muh equity because it's a prepaid roof over my fucking head that will incur upkeep while I own it. The whole equity nonsense has fucking poisoned even the uninformed mind. Even my CPA is trying to be "helpful" and tell me how I should spend some of my wealth to buy a home to "build equity." What the fuck does that even mean for real people living in the real world? Equity only matters if I'm trying to flip the bitch to "upgrade" to a better house. Nobody fucking does that anymore because it's a retarded financial move. It's all hyper expensive pile of timber built by unqualified illegals regardless of whether it's painted pristine or about to collapse on the first dew of next spring. Fuck off with this equity nonsense. You're regurgitating boomerspeak that hasn't been relevant in the past twenty years.
>>62332603>built by unqualified illegalsThis
If you look at housing as an investment in the immediate run up to 07 in the US you will skew the data.Ben is taking a very hot Canadian market that's has corrected, cherry picking the exact time of the market cooling off, and then saying see I was right all along because Ben genuinely finds maintaining his house annoying because he's a numale faggot and so he's constructed post hoc reasoning to align with his personal feelings.Contrast this with Ben talking about covered call etfs where he completely avoids what they're good for, not being actively managed by your own damn self, where he decides that has no value and you should be managing your portfolio all on your own. Because Ben is a numale faggot who enjoys that sort of thing.
>>62332603>agree to spend 30 years buying a house>sell house you dont own because you never finished buying it >sell house for more than the price you started buying it at>paid less than rent the whole time you were living there and paying each month>the jews that bought the house you were paying on buy the house from the jews you were buying it from >some new goy gets to spend 30 years buying this house from jews >you take the extra money and proceed to spend 30 years buying a house from jews but this one is bigger
>>62332635>>paid less than rent the whole time you were living there and paying each monththis hasn't been true for multiple decades, not even for fucked-up apartment units that the property management is trying to offload as a "condominium"
>>62332633>Ben is taking a very hot Canadian market that's has corrected, cherry picking the exact time of the market cooling off, and then saying see I was right all along because Ben genuinely finds maintaining his house annoying because he's a numale faggotthe funny thing is that houses are a good investment PRECISELY when either prices or interest rates go down lmao
>>62332603Equity is good because it's going to give me a shitload of low interest money to put into dividend funds.
How come people never choose comparable property when comparing renting vs buying? Its always a 1 bedroom apartment vs a 3 bedroom house
>>62332786This. Even Ben Felix admits some leverage is good. Checkmate.
>>62332798because they're retarded.
>>62332798Idk where's that coming from. I'm renting a $1.5m 3 bedroom 1965 cardboard box with a backyard and a garage for $4.9k/month. The same amount of money would get me a $875k 2 bedroom 1942 half-rotten cardboard shoe box with a post stamp sized backyard and street parking, and I'll have to spend +70 minutes driving to/from work every day. Unless you win a lottery, buying a house in any location with high-paying jobs is a deeply idiotic decision.
>everyone who owns a home claims that homeownership is a great way to build wealth>they ignore the cost of insurance mandated by the bank they borrow from>they ignore the cost of maintenance, both home repair and stuff like yard upkeep>they ignore rate and market environments and say "just buy" as if that's even possible for the potential entry level buyers who would actually listen >their home collapses after they trust a seller/realtor chosen inspector who wasn't going to lose his kickbacks pointing out structural deficiencies left by the illegal beaners who built the placethe worst thing you can do is own a condo. the next worst thing is own a house
>>62332869I don't think Ben Felix has done the numbers on people who never pay off their home. If you keep drawing out as much equity as you can, a renter should never be able to win.
>>62332635>paid less than rent the whole time you were living there and paying each monthLmao absolutely not. Apartments are like 1000-1700 by the way and the utility costs of a house can easily tack on another 600-800 to what you are paying monthly meanwhile an apartment will only do like 200-300
home ownership has always been an american meme alongside """""healthy"""""" salads containing 70% lettuce by volume and needing to upgrade from a sedan to fuckhuge SUV when preparing for a first childafter covid price hike it's become even more of a memeit's always been a lifestyle choice for people that are able to derive enjoyment from eternally fixing a permanently rotting house and no discipline retards that live paycheck to paycheck and use mortgage as the only way they can save for retirementwith US population starting to decrease RE market is already on a correction course and maybe in this or next decade the home ownership will finally make sense from financial POV
>>62330636You mean I shouldn't have sold my apartment as soon as I entered this thread? What the hell, man. I thought /biz/ knew their shit when it comes to economy and stuff.
I FUCKING HATE BEING BORN IN CANADA (ok it wasnt that bad until trudeaunigger)
>>62332603You wish houses were still made of real timber lmao.
>>62330044>fiatOnce easy credit is turned off.
>>62334019A lot of apartments require you to pay utilities too.
>>62334019>Apartments are like 1000-1700per month? I pay $1900 a year in property taxes. it's not my fault urban megacity retards don't understand earnings vs cost of living ratios.>jew star captcha
Rent market literally turn into clown world during the cries, nobody is prepared for this, we literally see thing turn into shit rather quickly.
>>62334485I covered that>>62334491If you can pay off the house instantly yes costs can be minimal but ultimately the majority of people out there,living pay check to pay check do not have that option until they are in their 60s or 70s.
