Meaning of life

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delusion

>Market barely recovered from 2008

What a fucking retard. Maybed not in whatever backwater shithole you live in but where people want to live... Literally never been a worse time to buy

latimes.com/business/la-fi-home-prices-20180621-story.html

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Hi

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We are short 3.5 million homes across the US. We've got a solid 3 years of increasing home prices. We literally can't build them fast enough.

July
They're going to get fucked. Sorry
Where are you trying to buy and are you going to finance it?
I don't think it takes that long as I think the cracks in the economy are going to grow larger and everyone is leveraged to the eyeballs. We're going to see a string of defaults starting to hit come Q1 or Q2

The nuclear family meme is the single most damaging meme the jews ever made.
Living with your extended family is the way to live as an actual human.

my salary is low 35k so id probably either buy outright or down 50%. what can i do? my credit is 795

But what about the new generations not being able to afford a home and choosing renting over buying? Sure maybe now and a few years from now prices will still go rampant, but eventually as there are no buyers anymore these houses will get worth less and less, then more renting millenials with savings will be able to buy a home. And as more boomers lose their renting income to cover the costs of the house and potential profits they are forced to sell the house as they can't cope with the costs/debt. Allowing even more millenials to step in since they can finally afford a home.
Is this not roughly what will happen and if not why not?

You're allowed to say "no", you know. If you can't afford a house, don't buy one.

Okay, NEET.

If you believe that then go buy a house. As I see it being the only thing I look at all day aside from this fucking board and binance. We have 6 months or so before it starts. It's already started in some areas. It's going to be epic and all those developers are going to get fucked.

Builders had years of projects lined up last time that they abandoned. We'll see it again in next few months.

Save what you can now, when the economy crashes you could lose your $35k/m salary.

Although, IMO housing isn't going to crash. Stagnation might be real. But the market today is absolutely nothing like 2006. Almost everyone is buying with 20% down and lots of cash buyers. Home prices might slow but not collapse because people are no where near as leveraged as they were before the GFC.

why rent when 30yr mortgage cost the same maybe less?

I don't know what your price range is. What I did is bought and paid for homes in cash back in 2009 then turned around and went to an non traditional lender and got a blanket loan covering 6 properties and used it to buy more houses. I've since sold off all but 4 properties and am waiting for next dip.

You would probably have to do something like this because you can't afford shit with a 35k income.

KEK this fucking LARP! Homes sold at record rates over the last month, homes are being built at record rates, builders can't keep up with the demand. Somehow people can still afford and are willing to pay these insane prices. We'll only see a correct when that stops, and we're nowhere near close to that. If you're not buying now you're probably cucking yourself for eternity.

You're out of your fucking mind here.

NOBODY is putting down 20%

I've worked hundreds of deals in the last 3 years. I can count on one hand how many people parted with 20%

Then you get shit like this.
cnbc.com/2018/05/21/what-to-do-if-you-cant-afford-a-20-percent-down-payment.html

Ticking time bomb.

because you can't afford it?

Why would I LARP about fucking real estate? Your mom can do what I do. It's primarily what people do when they can't do anything else.

Believe me or don't. Screencap this and laugh about it a year. I sure as fuck will when I rub it in your mongoloid face.

1. You're not in real estate.
2. The 2008 market meltdown was a result of a financial crisis, from the banks failing. This is not in any danger of occuring.
3. previous housing busts happened because of several factors: high interest rates, high unemployment, and banks refusing mortgages. None of these conditions exist.
4. More of the system is built now to prop up housing prices.
5. If you really were in real estate, you'd be singing a different tune. I ave several real estate agents in my social media feed, and they're all doing well. They've all said that the market has turned from Asian investors back to "traditional" buyers - ie. couples, families, and college grads. One just put a 36 year old woman into a $500k house. They've normalized the higher prices, and people are adjusting.

Without a financial crisis like 2008, the housing market won't crash until and unless people can't get mortgages. The banks are still giving them to anyone who wants one. Interest rates are still low. The housing industry is chugging along right now. The signs of impending doom, things like foreclosures rising, houses sitting on the market at significant discounts, simply aren't there. Foreclosure rates are down, mortgage applications are up, and prices are rising. People have been calling for housing to crash since 2008, yet here we are, the new normal.
TL;DR: you're full of shit, larp boi.

PS - I don't support any of this, but it's reality.

>Get a career
>Move to a rust belt area
>Buy a house for $60k
That's what I did. I have to fly out to cali 4 times a year but other than that I work remotely from home. My salary is $110k and I bought my house for $80k

Op the market sentiment has not changed since I purchased a house two years ago in fact I've earned 60 K in equity into years so I would say it was worth it and risk is small when you put 5%

>true cost of home ownership is way more than renting
>home ownership reduces mobility
>cash value is locked up for months, maybe years until you can offload your property onto some other schmuck

Unless you can afford to buy it (with 40% down) and either live in it for 30 years or rent it out, don't overcommit yourself like most people do

People have adjusted to the new prices.

youre saying you put down 5%?

thats it?

jesus christ what

>Get a career
>Move to a rust belt area

Pick one.

>>Move to a rust belt area

I don't hate myself that much

>Tfw still too poor to buy the incoming dip

Crypto has all my money

to each their own, I didn't want to spend $3k/month on rent to live in SanFran anymore so I moved back east. I have family here and I'm still working at my job just remotely.

Is any of this true for San Fran and Boston?

I don't see the situation worsening here, in 2008 in Boston real estate stayed constant.

Try to buy a house in a sellers market right now and you have almost no chance to get your offer accepted at less than 20% right now unless you go massively over asking or possibly waive the mortgage contingency.

This is a good point. In a lot of areas rents are going up faster than real estate prices. So while you are waiting for the market to slow down you are paying more in rent, getting no equity, living in a lower quality home you know is temporary.

So in popular areas right now it makes almost no sense to rent if you can afford to buy because even if your house goes down in value you will be paying less per month than you would have renting.

IMO real estate has been depressed for years out of fear of another crash. There are lots of people with lots of cash and are doing the rent vs buy math, hence the real estate prices catching up to their real value. IF the economy collapses, the vast majority of buyers are in a much, much better financial position than with the massive borrowing before the GFC. Buyers today can hold out. Prices might go flat and slow down, but you aren't going to see a huge crash.

I really want to save up about ~$300k and just buy a bunch of rentals and live off rental income for my life.

I'm an attorney with a fuck ton of OMG so this is actually viable I think.

My only problem is demographics. How can I confidently invest in literally any real estate when it's entirely possible it will be overrun by shitskins in 10 years?

Come to Australia. LVR as high as 95% is norm here for owner-occupiers

>Wahhh why are all the houses so expensive in cities that people are moving to from all over the world

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Own two nice homes with a cost basis of $50k each (one brick, one vinyl siding), brick duplex plus garage apt ($100k). No debt. We have had low home prices since 08 since my state economy is based on oil.

Prices finally rising now

>1. You're not in real estate.
Why would I like about such a shitty job? I'm not claiming to be the head of Goldman Sachs, brainlet.
>2. The 2008 market meltdown was a result of a financial crisis, from the banks failing. This is not in any danger of occuring.
No risk of that happening. Nope. NOT AT ALL. Everything is awesome cnbc.com/2017/09/19/where-deutsche-bank-thinks-the-next-financial-crises-could-happen.html
Inflation is over 2%. Wage stagnation is the worst it's ever been.
>3. previous housing busts happened because of several factors: high interest rates, high unemployment, and banks refusing mortgages. None of these conditions exist.
Rates are rising, brainlet. The economy is not strong enough for people to handle higher interest if they're living paycheck to paycheck. Less consumer spending money equals recession. It's coming.
>4. More of the system is built now to prop up housing prices.
Explain. The system protects the lender with imposed mortgage insurance. Nobody gives a fuck about the home owner. When a million people walk away from their houses we'll have another AIG moment.
>5. If you really were in real estate, you'd be singing a different tune. I ave several real estate agents in my social media feed, and they're all doing well. They've all said that the market has turned from Asian investors back to "traditional" buyers - ie. couples, families, and college grads. One just put a 36 year old woman into a $500k house. They've normalized the higher prices, and people are adjusting.
KEK. Your facebook friends are retards.

It's coming. You can heed my warning or dismiss it. I don't really care.

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I have never put down less than 80%

This guy gets it. I bought my house for $135K less than 20 minutes from beach and only 5min from a major boat landing on the river. Probably have it paid off in a couple of years.

This is a lie. Why would the seller give a shit how much the buyer is financing? They care if the buyer if going FHA because fuck the FHA. That's all. 5% dowm conventional at asking will beat a 50% down FHA at same price every day. 0% down VA beats them both.

>It's coming. You can heed my warning or dismiss it. I don't really care.

Niggah think's he scary, kek.

and we wonder why people are od'ing on opioids

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I'm not sure what you're trying to say

Pic related seems comfy, not more than I'd want

Congrats on mobile home ownership

Then you're very well off and in the minority

Sheeeeeit I'd buy that if the neighborhood was nice.

just because its cheap doesnt mean its safe. you couldnt give away houses in detroit because niggers. i dont want to be anywhere near darkies or mexicans

Got something similar in mid-Michigan for $150k.
Midwest USA is fucking god tier.

This is specifically the opposite side of town from niggersville

Because people are trying to buy while interest rates are low. People are piling in because the fed is slowly hiking rates. If rates spike, because the dollar starts to fall, which it will, the housing market is going to collapse. Almost everyone who bought a house in the last few years, will be instantly underwater on their mortgage.

Higher chance of the sale falling through. In competitive markets you're pretty much guaranteed to have multiple offers on any decent property that's likely to appreciate. Sellers prefer cash buyers before accepting people with mortgages because there's a sizable risk they don't get approved for the final loan. The less they put down the higher the risk. Lots of investors buying with cash now, and almost everyone is putting 20% down. Nothing like in 2006.

For anyone not old enough to remember, in 2006 some people were putting nothing down on houses and being approved for monthly payments over 40% of their gross income. Car loans were offering cash loans on top their loans, so that people would literally go buy a car with 0 down and get a loan for a few grand on top of that. In 2005-2009 it was popular for credit cards to give no APR for a year, so tons of people maxed out their CC then just signed up for another card in a year for 0 interest. Of course all these people got absolutely rekt in 2008. My point this is nothing like what is was before the GFC.

i wonder if its easier to coerce low income girls to have sex with you if you have a little money

As long as you're able to work from home, making any amount of money in a place like Fort Wayne is enough to impress tinder sloots

Assuming you are in real estate what are your thoughts on buying outright in cash for a place you plan on living in? Assuming you have the means and it only constitutes about a fifth of your total net worth.

On mobile now. Yes. Do this. After you do this I would get a HELOC against the property. You shouldn’t have to pay a dime to get the HELOC and you only pay on them if you tap funds but you now have access to 80% of the funds you laid out if you ever need them and you’re not paid not paying anything for that luxury.

My man, that’s actually great real estate advice

AND EVEN BETTER CRYPTO ADIVCE !!

If you plan on staying in the same area for 3+ years I would highly recommend it.

The biggest mistake I see people make is buying more of a house than what they'd rent.

Get what you will be comfortable with and no more

Housing isn't appreciating. It's the USD depreciating Don't you faggots see? The govt. is suppressing inflation in the CPI and other indicators and readings. Housing is one of the only assets they cant fully control. Sure, we will have a recession soon and prices will correct, but they will only continue to grow as the USD Becomes more and more useless in the coming times.

Don't you understand what Mcafee is saying? BTC isn't going to appreciate to 1M. Its the converse - the USD is going to depreciate so severely that BTC will be worth more USD because USD has become increasingly worthless. You're looking at it the wrong way. He's betting on the USD collapse. Petrodollar, Reactionary Trump policies around the world, tax cuts and interest rate hikes over a 20-70T debt (depending on what you count as debt).

Buy gold and BTC, you wont be worrying about housing 10 years from now.

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>reasons to buy home

1. ((they)) make more money off you paying rent than ((they)) will the interest from your home payments.

2. for the same monthly payment you will get a bigger home to live in than you would an apartment for that amount

3. your payments go towards having that shit payed off and you will get most of it back anyways when you sell, you dont get shit back after renting

4. if you can afford a mortgage payment for x amount now, it will seem even cheaper in 5 years when you are making more money at your job due to raises and inflation because it is a fixed payment. meanwhile apartment leases increase annually with inflation.

>Without a financial crisis like 2008, the housing market won't crash

I don't think you are understanding how 2008 worked out.
The financial crisis was BECAUSE of the housing market, because of sub prime loans at exorbitant prices for a home and the subprime loans and mortgages handed out willy nilly that followed.

I look at it like this. Housing hasn't caught up with other industry, it's an overly labor intensive effort to build a house, and Pre-fab's aren't there yet - because they are shit at non-boxed multi-storied applications

And that's a big root of the problem, right there - over-urbanization and no economical high speed method of travel

36yo dude here (trying to to get rich with crypto as the rest of us). Only reason for me to ever want to have my own house is to also be able to afford space to a dog. Currently living in the city and in my books its animal cruelty to have a pet in a concrete jungle.

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Buy while you can, there is no crash coming, houses that aren't bought are being bought out by rental agencies, you can either lock in your rent for the next 20-30 years and have something at the end or enjoy the rising cost of renting and have nothing except your useless link

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>Also, buy LINK
I was somewhat convinced until you said that shit.

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I'm just going to rent and save up money until the crash. I refuse to buy at these levels. I'll rent forever if it comes down to it.

Yea, Im pretty sure you are just a dog.

face it, we have to kill the boomers.

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This guy fucking gets it.

Essentially once the USD collapses and Fed busts out QE4, which is not a guarantee because Powell doesn't sing the same tune as (((Bernanke))) and (((Yellen))), hyperinflation will set in the money printing will begin.

We'll have a Venezuela 2.0, the dollar will be worthless and BTC will be worth 100k. That is why I think BTC is being suppressed rn by the bankers and hedge funds because they know it will explode once the stock market tanks.

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That's the problem, that, over-urbanization, and a total lack of high speed transport.
The most productive members of the economy don't want to live near human cancer, the most productive members of the economy don't want to hypercommute, the economy want's to keep urbanizing - bringing different races all together, instead of states telling the tech industry NO, you can't build in Austin, you have to build in Waco or Midland.

Predictions:
Housing bust unlike we've ever seen
Increased demand for de-urbanization and gentrification
Race War
The economy imploding

>2008 in Boston real estate stayed constant.
Same thing happened in NYC and the surrounding suburbs (Westchester, Long Island, etc) for the most part

Homes like that are 350K and rising in every city in Texas

Great, when your worthless BTC will be worth 100k than the houses will be worth 10000k.

Shit nigger rampant area a scam golly gobbler you beainlet