My parents want to put their life savings on a house even though theres probably gonna be a recession next year or so...

My parents want to put their life savings on a house even though theres probably gonna be a recession next year or so, how do I talk them out of it?

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It's their choice

My parents already did. Rip my inheritance

You can't talk them out of it. Your mom probably made the call and they don't handle logic well. Your dad would probably get divorced if he pulled out.

His dad should've pulled out, save us from the dumb frog poster who can't make decisions without consulting 4chin. Just like his beta dad.

Both my parents are economically illiterate but it was my dads idea and he convinced my mom to go along with it

It's non of your business what they choose to do with their money. How would you like it if they told you how to spend or not spend your money?

I was just hoping someone was in a similar position here that could tell me how to stop them from doing something retarded

BOOMER BUY HOUSE
HOUSE GO UP FOREVER
BOOMER MAKE BIG GAINS

Their income isnt enough so they want me to put my name on their mortgage too so now theyre angry at me for not wanting to go bankrupt like them

Ridicule them. Loudly laugh at their choice while telling them that the housing market will collapse soon, with proof of this.

Oh sheet you might have a chance. Maybe show him this chart and say it looks just like the years leading up to the great depressio.

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>mfw my sister and her boyfriend JUST bought a house

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Your parents probably think your dumb. They have the experience with you, you know...
Me, I convinced my dad to sell off all of his investment properties (6 in all) last one is on the market RN...Where going to buy a bigger house personal also...
It took a while, they don't like reality...
Also talked my dad not to waste £75k on a new car
Folks have about £2.5MM+
How did I do it?
I am not dumb

FYI I am not going to get a penny!
Currently spending about £100k just on holidays annually....
Its all good though, it is their money! My Dad worked fuckin hard for it!

Thats exactly my dad's thinking, he thinks theres no possible way to lose out on money when you buy a house as an investment, plus he thinks hes going to miss out on the sweet deals right now as all the house prices go up 100% every year

>Your parents probably think your dumb. They have the experience with you, you know...

Theyre poor and this is their first time they try investing in something, I'm just afraid theyll go bankrupt and lose the house we're living in.

Are you going to be living with them? If not fuck em

They're idiots. Just stay in the same house and put money into a high yield checking account and live within your means.

99% of investment gains is made through risk-containment, not additional revenue generation

>Its all good though, it is their money! My Dad worked fuckin hard for it!
Superior mentality

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Tell him by his logic houses will go up forever than show him the chart of bitcoin and tell him that's what everybody thought when BTC was literally going up 90°. Show him the price of BTC now. Show him DJI and explain whats going on. Tell him about global debt and why this dept is reaching a point where world's spending wont be enough anymore to keep the circus going, so a big global crash will happen. Also tell him younger generations dont have money nor make kids, boomers are dying and kids are selling their houses. Housing market is atm CAPPED. In fact everything is. Tell them to buy some gold and be patient.

Take a video of you telling them it's a bad ideea.
Close up of their smug faces.
When the housing bubble burst in the next years and that house is just a huge expense you don't need show them the video.
Again and again and again and again....Wake them up in the middle of the night to play the video.....pictures of their smug faces plastered all around the house.
Advertise in the local newspaper.
Mail them the video.
Upload video to youtube and redirect their browser homepage to said video.
Shove that shit in their face harder than a gangbanged 5 dollar crackwhore.

Yeah well 100k annually for holidays? Seems like theyre total retards and got rich by chance like all other boomer fags. They'll lose it all, esp in the coming hyper inflation. Boomer justing is coming. They stole our wealth through interest. Die in dirt boomers.

good goyims good.

Thats already what I'm doing, I saved up $30k over a year and a half and now they think I'm greedy for not wasting it on stupid shit like eating outside at a restaurant or buying a new car, they also see me as stupid for leaving it in my bank all this time instead of investing it like what they plan on doing.

Even if housing costs don't plummet you are stuck paying property taxes every year, negating your potential profits. Unless they plan to rent, they stoopid.

They plan to rent it as they wait for its value to go to the moon so they can sell it later and get rich

Wow there is no hope for them.

You just fucking take them for a walk and explain it to them as best as you can, and explain that you're concerned about their financial well-being (allegedly because you love them).

Then if they still decide to go with it, that's really all you can do.

The average cost of raising a child is $200,000. They owe you nothing, they paid their debt for bringing you into this world. Let them do what they want with their money and stop acting like you deserve it.

Thing is, assets are already disproportionately inflated. The unsound theory that housing prices would go up exponentially was one of the main surface reasons for the sub-prime crash.

It's already topped out IMO. If prices go much higher people won't be able to afford interest on their mortgage and then the game is up. Sorry about your parents.

having a child is one of the most selfish things anyone can do. he didnt ask to be born, they owe him EVERYTHING

If you feel that way, or he feels that way there is a solid solution. Kill yourself. If you're upset you didn't consent to your own birth it's really the only solution.

I'm trying as much as I can but they still refuse to listen to me, I'm gonna try to get my dads boomer friend who at least understands how the market works to hopefully talk them out of it.

Then again, that could be part of the master plan going forward....to make housing astronomical so they can force a proletariat to usher in a new wave of communism. But my gut feeling is they just want it high enough so the average Joe can just afford interest on his 30 year mortgage.

I'm not asking them to give me anything, I'm just asking them to not be retarded with their money.

They have to make their own decisions and mistakes. From the other things you've posted it's time to move out and start your own life and make your own decisions. Definitely don't co-sign anything for them.

>reducing your progeny to economic terms
lmao I hope you get glassed, friend

Except its an obvious stupid decision thats going to backfire on them pretty hard later on that I could prevent right now, if your brother wanted to jump off a bridge thinking it'll make him rich, you would try to stop him too wouldn't you?

buy land; outside the city; with a house; same price; you're all going to loose your money anyway

Your progeny are an economic decision. I make enough to support a wife and two children. I have one now, and will only have one more. After that I'll get a vasectomy. Having a third child that I'm unable to support would be a stupid decision.

Yea, but at some point you have to let people make their own decisions. Kids don't learn the stove is hot because you tell them it is, they learn it when they burn their hand.

If they need you to co-sign to get the place anyway it's already a done deal. You aren't cosigning.

K, heres an idea for your situation...
Guess they have 10% down...
(this is somewhat BS btw)
jump on Excel
Start 20-30 years ago and put in the Dow or similar every year.
You can show them that even if they bought the market that the compounding interest adds up...Especially if you remove the downfalls (assume you sell).

Just use the down payment, they still need money for rent/life, but add to if you want.

The house will cost double what they pay, show them that..."i bought a house for $300k" bs

Show them the house price from the start date of the dow you used. Make sure they factor in the interest on the house loan.

The answer will be a 6 figure house vs a 7 figure (or near) Dow...

Ask your folks if they want a $1000 now or take a penny & double it every day for 30 days? find the number you get...

If you live int Muttland your folks need $$$ for retirement...Buy a house cash

Don't argue with them or anything it is literally their money! They laboured for not you. Most likely they laboured for the fund for the DREAM of 'buying' a house!

Best of luck user!

Sorry I am proud of my dad that worked his way to the hospital @ 49 & then retired! Has been retired 15 years now...Sadly I can't get him to get rid of his Mutt 401k b/c taxes