>buy $400k home>6.5% interest means you will pay 128% of the home's value in interest over 30 years>the principal gets invested in something that returns half the stock market's returnswhen is trump going to fix this? this is even worse than renting
>>539628624>even worse than rentingBullshit, renting means you pay all that plus some to the landlord's pocket.
The FIRE sector of the economy only sustains itself through parasitism. Emperor Orange is only where he is at because he is a parasite.One would need to mainline Extra-strength Copium (George Floyd grade) to think he's going to do shit to change it.
>>539628624>128% of the home's value in interest over 30 yearsAre you fucking retarded or brown? You can pay more than the minimum fucking payment you retard
>>539628767Many homes used for rentals are paid off, in which case you may just be paying other fees (property tax, etc) plus profit for the landlord.In many markets you can rent apartments which are smaller than any house available, which makes them cheaper.>t. pay $1100/month for 2 bedroom 1 bath
>>539629305>you can invest more in something that grows at 3-5% per year (as opposed to the stock market, which is 8-12% per year) to pay a little less interestbased retard. even if you make double payments and pay it off in 15 years, you will still pay more in "rent" (interest) than i pay in actual rent. and that doesn't include property taxes, maintenance, increased utilities, etc
Friend of a friend took out a 100k euro loan and used up another 100k his based boomer father had set aside for him to purchase a small first floor apartment in one of the blandest and most shitty suburbs in Athens. Him and his wife are working like mules all day every day to pay it off. He has a kid though so I guess he will at least have someone to inherit the house once he croaks from exhaustion and stress in a couple of decades. I just dont get how people do this kind of thing and are able to justify it to themselves
>>539628624>you will pay 128% of the home's valueNo, retard, you will pay 128% IN INTEREST ALONE. Meaning the total cost will be 338%, over 3x the cost.What kind of fucked up lying Jewish loan calculator did you use? Use a real loan calculator. You are paying 6.5% EVERY MONTH FOR 360 MONTHS. DIVIDE 100 BY 6.5, YOU PAY THE TOTAL COST OF THE HOUSE EVERY 15.3 MONTHS.WHEN WILL GOYIM LEARN MATH?!?!
>>539629813>you will pay 128% of the home's value in interest are you illiterate?
>>539628767And the money you save and invest from not paying a bank and renos mean your investments return 10xThis makes boomers absolutely SEETHEOwning is just throwing money away
>>539629813YOU FUCKING GOYIM RETARDS, IMAGINE FALLING FOR THIS LMAOA 400K SHITBOX FOR 1 MILLION DOLLARS>BUT WAIT, THERE'S MORE
>>539629317Yeah, all those independently wealthy benevolent landlords renting houses to people at below market value. Of course you can get an apartment for less than a full house, but I can guarantee you that you are paying whatever the loan value is on that unit. That's how rental rates are priced, by the loan value and other expenses of the unit, whatever it is. I'm not telling you to buy a house, I'm just saying you're crazy if you think most any landlord is renting something to you for less than what it takes to buy it, even if it is paid for.
>>539629813thats not cool
>>539629864Oh you stupid motherfuckin goyim... Didn't even bother to do the math before opening your goyslop cadaver meat filled mouth?>>539630051HERE'S THE AMOUNT OF GOYBUX YOU RAKE IN WHEN YOU GET THE DUMB GOYIM TO SIGN A COMPOUND INTEREST LOAN, WHICH THEY ALL ARE! LMAO!!!
>>539630120COMPOUND. INTEREST. LOAN. CALCULATOR.JEWGLE IT AND DO SOME MATH BEFORE THEY BAN THEM, AND THEY FUCKING WILL. YOUR ENTIRE LIFE IS A SCAM.
>>539628624>prefers renting Enjoy your home depot (or worse) appliances and finishes.
>>539630051400k home means you're surrounded by browns. You have to get a home valued at 1 million or more to get away from them. preferably 2 million.
>>539630203Absolutely LOVE how stupid goyim are
>>539630228Owning is just throwing money away, cope
>>539630234Can confirm
>>539629453>even if you make double payments and pay it off in 15 yearsThis retard literally has no clue what equity is.>>539629937>the money you save and invest from not paying a bank and renosLol, you idiot, you're not saving any because renting cost just as much. >green apple cost $1>red apple cost $1>hur dur I'm going to buy the red apple and invest all the money I saved not buying a green oneAbsolutely retarded.
>>539630315>equityI'm not paying you hundreds of thousands (millions by the end of the loan) because you took shits in a large cardboard box for a decade. The "house" has aged and things are breaking. It should be worth LESS.Everyone move into a $10k camper to spite these "equity" kikes. In fact you can build a PMF camper for like $400, look up how to build one.
>>539630515>home loan kikes, car loan kikes, and equity goyim HATE him for this one trick!
>>539630315Renting is a flat rate without painting, fixing anything, appliances.Investing that money will return 10% on average, home prices return 2% on average and can go down when you want to move. And youre paying a Jewish bankThe math has been done boomer, owning is throwing money away, renting and investing is the way to wealth.
>>539630515Lol, this retarded nigger actually doesn't know what equity is. Well, you're poor so your options are, pay kikes for a mortgage, pay even more to pay some kike's mortgage for him while you rent from him, or, like you said, go live in a van down by the river.I paid cash for my house, and I'm not suggesting you buy one because mortgagas are a scam. I am suggesting you're a fucking idiot if you beleive kikes will rent you something for less than what it takes to buy it though. A special kind of idiot.
>>539630594Oh, it's so nice that you have a benevolent landlord that does shit for free and absolutely doesn't charge you anything extra for it in your rent. I think it's great that you all have found such nice kike landlords that actually take a monetary loss just to house you. I don't know why you all complain about them so much, when they buy homes and then rent them to you for cheaper. That's really nice of them.
>>539629305also, the interest is $110,177.95128% of 400,000 is $512,000. plus the original $400,000 is $912,000. the total interest is just over 25%; it's about 29%. you would pay an extra 29%, not 128%, in interestthis is 6th grade math
>>539630066>Yeah, all those independently wealthy benevolent landlords renting houses to people at below market value. Of course you can get an apartment for less than a full house, but I can guarantee you that you are paying whatever the loan value is on that unit. That's how rental rates are priced, by the loan value and other expenses of the unit, whatever it is. You're missing the point. The cost of a house is going to primarily be>principal (assume $400k house)>interest ($510k at 30 years/6.5%)>property taxes, insurance, maintenance, and other fees ($309k over 30 years)If a house is paid off, then the ongoing cost of that home is going to be just that last part. So instead of $1.2 million/30 years ($3387/month) it would be $309k/30 years ($858/month)My landlord isn't Ranjesh who is leveraged to the gills with mortgages he can barely afford. It's an old retired Army colonel and his wife that have had the house in their family for like 50 years.He wants a nice steady passive income with quiet tenants, so that's what I provide him in exchange for below-market rates.>>539630315This retard thinks putting extra money into something that appreciates in value 3-5% per year (0-2% after inflation) is better than putting that same money in the stock market (7% after inflation)
>>539628624Just pay everything at once? Only chumps take loans with interest
>>539628624I cannot fathom the depths of stupidity of anyone who has financed a house since 2019
>>539631294>save for 15 years living in a tent instead of slave for 30 years
>>539631133>This retard thinks putting extra money into something that appreciates in value 3-5% per year (0-2% after inflation) is better than putting that same money in a landlords pocket to never see it againI fixed that for you, because your fucking dumb. You're already paying for a place to live, you stupid nigger. It's not like by not buying you suddenly get to live somewhere for free, you're still spending the fucking money, retard. The only difference is when buying the money goes into a tangible asset vs renting where it goes into a landlords pocket.Again, it's great you all found these supper nice landlords that rent you things for cheaper than they can be bought. I don't want to hear any of you faggots ever complain about landlords again. Apparently they're fucking saints, housing the poor at financial lose to themselves.
>>539628767I'm a millionaire at 40 because I've invested while coworkers bought houses. Some have been eating ramen for lunch every single day for years and their houses are now under water. It's not difficult math. It really isn't.
>>539631422Just tell them that paying interest is against your religion
>>539628624>when is trump going to fix this?Imagine thinking Trump gives the slightest shit about the common man's problems
>>539630993Migger math
>>539631477Where did you live for free all that time you were investing?
>>539631436>completely missed the point about paid off houses again>still doesn't understand that not every landlord's sole motivating factor is maximizing the rent>thinks putting $2k in the state's pocket is better than putting $300 in a landlord's pocketholy shit you are actually retarded
Just pay cash and your closing costs will be a couple hundred bucks instead of 10-15k>I cant afford to buy a ho...Good
>>539631477they go home to a mansion, you go home to a shithole apartment with nigger neighbors
>>539631547>hurr if dah house is paid for den you don't have to pay a mortgage but you still have to pay da upkeep and taxes>durr dats why it's better to pay a kike landlords upkeep and taxes plus his mortgageLol, you're comically fucking dumb.>>thinks putting $2k in the state's pocket is better than putting $300 in a landlord's pocketLmao, your stupid ass really believes landlords give people shit at a lose.
>>539630939Renters protections boomer, cope as you throw your money away
>>539631422I did the math on this too just for the fuck of it. I make around 110k a year, my take home after taxes and a small retirement contribution is 72k. Expenses, if I don't want to live like a pleb eating ramen are 1k a month, but let's say there's a bigger gasoline expense so around 1.2k a month. I'd have 57k a year to pack into a savings account. Even with a generous 5% return on a money market account, that's barely change being put in. So let's play with the base 57k. Over 10 years that's 570k, enough to rent a condo with bars on the windows in a black and Mexican hell. It gets interesting when you push it because 12 years nets you 684k and 15 nets you 855k. But you'd have to live like a hobo for 15 years showering at gyms and living in parking lots, just to buy a nice house when you're old.Saving is not the way to go, and you don't make 110k. Average couples will have around a 60k salary so 120k gross, around the same net as me. Combined income and higher purchasing power is the real reason a lot of chumps get married. That 72k net allows us to buy a $230,000-360,000 house. Generally the max house cost you can qualify for is 3x your gross income. I make double the average income and can't afford half rhe average house.You're not fucking pissed enough. We should already be putting heads on pitchforks.
>>539631932Tl;dr:>the max house cost you can qualify for is 3x your gross income. I make double the average income and can't afford half the average house.>You're not fucking pissed enough. We should already be putting heads on pitchforks.
>>539628624Except rent is more than my mortgage and that's for a tiny apartment
>>539631906>rent protected>throwing money awayLol, I'm a millennial with a paid for house. You're some retard paying to live in some shithole that section 8 niggers get to live in for free.
Yeah but why are you buying a 400k house? My mortgage is 425 a month and I own a 1500 square feet on a quarter acre with an outbuilding
>>539632029Kek you shitted all your money away for some mexican crafted particalboard shithole
>>539630993paying more in interest than for the thing itself used to result in community wide lynchings of small hat people
>>539632179I built my house, plus countless others homes and duplexes that I sold to landlords who then took out loans on them to pay me, and they now make 20% over their loan amount from people like you, so thank you to all you renters. You better not be late with Shecklburgs rent check next month, leaf anon. Sure, the government gibs he gets for housing Shanequa next door to you for free pay for the mortgage of your building, but he's counting on your shekels to get that new yacht he wants. If you are late he might not be able to get the exterminator by Shanequa's unit this month, and you don't want that.
>>539632179You seem upset.
>>539628624Econ grad here The major point you all are missing is the impact of inflation on the overall cost. First of all a nominal interest rate of 6.5% is really only a real interest rate of 3% because inflation is around 3.5%.Second, that $510k number of total interest is misleading because it implies that those dollars, paid over time, are measured in constant USD at today's value of the dollar when in reality the currency is getting weaker over time so that a dollar of interest you pay in the future has a real value that is lower than it is today. In order to convert that 510k to real value denominated in USD at today's value you would have to make assumptions about the future inflation rate and do a time series calculation with the amortization schedule, but it's actually much lower.My actual mortgage rate that I got on my first house in 2021 is 2.99%. The bank is actually getting fucked on that transaction and losing money because it's below the rate of inflation so their real interest rate is negative despite the fact that if you plug those numbers into your calculator it will look like I'm overpaying for the house by hundreds of thousands but actually the bank is loaning money to me at a loss given current inflation.Interest rates charged by the bank are basically what they calculate as an acceptable risk-adjusted rate of return based on current inflation, expectations of future inflation, assumptions about your risk profile, and what the opportunity cost is considering they would make more money investing in other things at various levels of risk When the inflation rate unexpectedly spikes, creditors (banks) get fucked and debtors (mortgage holders) get a nice benefit because the real value of the debt they have to pay off decreases.Look up the concept of intertemporal substitution if you want to understand why choosing to take on debt with interest to buy a house can often be an optimal utility-maximizing choice.
the entire US economy at this point is designed around the idea that residential real estate is an "investment" and that number must always go up. This is result of boomers and jews. It can't really be reversed either, the system is doomed to collapse due to nature of the fraudulent federal reserve system that powers it all. I am not suggesting waiting it out either, because truth is, when the monetary collapse happens the US will be like 70% brown and will be Brazil-tier. And just like brazil, most of it will be a dump, and the very few nice areas, you will be priced out of unless you are born into the ruling elites.The damage the boomers did to the US to enrich themselves is fatal. There's no coming back from it. You'd need someone like Ron Paul to become Absolute Monarch King overnight for there even to be a chance.
>>539632710>Econ grad hereRetarded nigger faggot this isn't reddit, you NEED to go back
>>539632710>When the inflation rate unexpectedly spikes, creditors (banks) get fucked and debtors (mortgage holders) get a nice benefitWhat's funny is the mortgage holders never think what would happen in a deflationary period. Probably not going to ever happen, but I've often wondered if they aren't just building this debt bubble to one day rug pull everyone with deflation.
>>539629813>YOU PAY THE TOTAL COST OF THE HOUSE EVERY 15.3 MONTHSIs this what common core does to a MF
>>539630279>Owning is just throwing money away, copeWhat WEF propaganda does to a MF
>>539632710You think you got a good deal but you're paying double your loan amount and your salary didn't go up so it doesn't matter if the bank "isn't making money." How does that affect you and your stupid decision to enslave yourself for life?
>>539628624How do you faggots commit to something for 30 years? I wouldn't even commit to anything more than 30 weeks.
>>539628767Renting also means you get to put your 20% down into the SP500 or better
>>539633968You dont understand, anon, let me explain as simply and clearly as I can Firstly, you fail to understand the difference between real value and currency. My house is a tangible thing in the real world that has a real value that has nothing to do with whether or not it is measured in USD or seashells or fortnite Vbucks. Currency, however, has no intrinsic value, so when the bank loans me 300k and asks me to pay 600k over 30 years that is not inherently a bad deal because that 600k of future inflated monopoly money is maybe only actually worth $360k as measured in today's dollars.Secondly, my income has increased (in real, inflation-adjusted terms) by about 60% since I took out that mortgage. You see, I, a hardworking, intelligent, white male who is optimistic about my own future instead of being a doomer, had a rational expectation that my income would increase in the future because as one gets older and gains more experience the real value of their labor increases. By taking out loan at interest I borrowed from my higher-earning future self to increase my standard of living in the present. That choice had real tangible and intangible benefits that improved my quality of life like living in a nice neighborhood, making myself more valuable to potential mates (I have since gotten married and had kids), and giving me ample space to truly enjoy the things I like in life. The cost of borrowing is obvious, but if I had instead chosen to endure an extended period of low standard of living in my youth in order to save enough money to buy that house with cash instead of taking out a loan, that choice would have real personal costs, tangible and intangible, that may be even greater.This concept is called intertemporal consumption smoothing. What this means is using borrowing and saving at as tools to, in effect, average out your standard of living across the different stages of your life and ensure that you are comfy both as a young adult and as a retiree.
>>539635046Spoiler alert: no one has 20% down unless they already own a house and are selling it to buy another one
>>539635371I could buy a house outright but it's a stupid decision to put $400k (or even $80k) in something that only grows 3-5% per year.In fact, by year 16 the renter could buy the same house free and clear, if they so wished, with nothing but the investments they made from not paying a mortgage
>>539635927Houses aren't supposed to be an appreciating investment. It's a place to live and raise your kids, man.
>>539635927Stress test that over the last 5, 10, 15, and 30 years, assuming a risk adverse portfolio because you're trying to replace an extremely conservative approach to wealth building (housing ladder).We'll wait.
>>539636305the s&p 500 has averaged 10% since the 1960s
>>539636404>the s&p 500 has averaged 10% since the 1960sNow normalize for monetary inflation. Whoops.
>>539636455the 3-5% growth for home prices isn't normalized for inflation so why would you normalize it for stock market growth?either do it for neither or do it for both
>>539636502The destruction of the dollar since 1913 averages out to about 3% devaluation per year.
>>539636561then the stock market gets 7% and home prices get 0-2%. this isn't helping your case
>>539636611I think that you're confusing me with another anon in the thread and that you have no idea what I'm saying or why.
>>539628624>retarded goy finance thread to force goyim into further slavery>durr 128% more!>Doesn't take into account that rent prices rise too in 30 years>Doesn't take into account that money devalues over 30 years - so let's say 1000 dollar payment in 20 years will feel more like 400 dollar payment>Doesn't take into account that mortgage is basically fixing your rent payment>Doesn't take into account that you end up owning the property after the loan is payed, yet your kike landlord ends up owning the property, if you rent>The retard actually suggests, that the whole renting economy is operating on a loss>Umm achkully owning nothing and being happy is based, goy! You can just rent!Holy shit - either the most retarded goy or the most toxic pilpul by a kike.Great job.>inb4 REEE A MEMEFALG >inb4 REEE INDIANYea, because no argument from a kike shill like you
>>539637320your entire comment has already been answered like 5 times in this thread you blithering retard
>>539628624if we killed every single person who played golf within the next month, it would do more for the country than any war in the history of the world.Why are all these wall street banker fags and corporate lawyers and other leeches (like politicians) getting rich while America has got worse? leadership has failed. they've produced a shitty boring asshole country where everything (but guns) is illegal, all the consumer facing stores have been stripped down to skeleton interiors and workers, essential jobs pay nothing, and everything sucks.
>>539635927You're not wrong but ultimately it's a subjective choice about what you value in life. Your lifespan is finite and maybe you don't want to spend some of the best 16 years of your life settling for living in an apartment so that you can have bigger numbers on a spreadsheet when you're borderline too old to start a family.On the other hand I know many people, even those with families, who are totally indifferent about owning a home or even hate the idea of being responsible for maintenance, property taxes etc. and prefer to rent based on lifestyle preferences.In most cases renting and investing the remainder is probably objectively the better financial decision in terms of raw wealth generation (depends on the particular market and macro conditions at the time) but intangible life satisfaction from owning a home is more valuable to a lot of people.
>>539637360Lmao you haven't adressed shit, you have just posted retardbabble:>>"Heh -: this retard thinks putting extra money into something that appreciates in value 3-5% per year (0-2% after inflation) is better than putting that same money in a landlords pocket to never see it again" - u>hurr if dah house is paid for den you don't have to pay a mortgage but you still have to pay da upkeep and taxes>durr dats why it's better to pay a kike landlords upkeep and taxes plus his mortgage plus his profit margin!>t. u>>"thinks putting $2k in the state's pocket is better than putting $300 in a landlord's pocket, because kike landlords will rent you something for 300 dollars, what the state taxes them for 2k dollar" - u>>539635927>"I could buy a house outright but it's a stupid decision to put $400k (or even $80k) in something that only grows 3-5% per year." - the retardest goy a.k.a - u>"durr i'm a stupid financially illetrate goy and don't understand, the the 5% growth comes on top of 1 million dollars, so the ROE would be ((1000k*0.05)/400k-1)*100%=25% DURRR" - u, but fixed>"DURR I'll just put the money, which I pay more of and in rent now in the stock market instead, which I don't even own, because I gave it to my kike landlord DURRR" - u>"b-b-b-b-but the rent is lower than the loan payment, because I suck off my kike lord 5 times a week and swallow his yummi yummie ju ju cummie!" - still u>>539636611>"DURR umm home prices rising doesn't help your case, I can just invest the money I gave to the jeish landlord whose cock I suck into stocks DURRR" - u againJesus fucking christ how retarded I financially illilterate rent golem can be>inb4 tl;dryea, because you'r shitter just got ravaged
>>539637900that's fair and there are a lot of non-financial factors (can you find a good apartment, good landlord, good neighbors, enough space for kids, etc) that can make it make sense if the numbers were closerit's also worse because interest rates are around 6-6.5% and Trump hasn't lowered them. If they were back in the 3s like 2012 until covid, the interest paid would be less than half.
>>539637597You won't do shit
>>539628624Are your interest rates that high?You can also just amortize more and pay less in the end. I amortize ~300% on my house.
>>539638872>Are your interest rates that high?yes>>539638297didnt read a word. maybe post it on your substack
>>539628624after 30 years the dollar will be worth 1/2 to 1/3rd of what it is today, and that's just going by historical estimates. Trump is printing money like America has no tomorrow (because it doesn't), so take the mortgage and lock that nigger in because it's basically free money when compared to the rate of inflation.
>>539638941I'm paying of max so I can lower my expenses asap and potentially retire sooner. It does kinda suck to not spend all money on lavish vacations but I kinda enjoy hanging out at home anyway since I live on the border of a park in a spacious nature rich environment.
>>539638919>didnt read a word. maybe post it on your substackYou did read it all, but you know i'm right, so you're seething because you can't say anything about it, lmaofinancelet retardand I even inb4-d it, lmao
