Why do normies think buying housing is the be all end all...

Both renting and mortgages are incredibly Jewish. A house should be like x3 annual medial income.

Yea, FOMO into the real estate bubble right before it explodes

haven't heard it referred to as freehold, but he is probably talking about "Land Patents" which gives the owner real sovereignty over their land and the government is not able to tax it.

The median house price sold is $200,000. The median family income is $60,000.

That 15k was for a studio apartment downtown. The mortgage could be split between multiple incomes unlike my single room. Also - equity, retard. Owning a house means you can take a loan with it as collateral so the banking jews give you more credit automatically. Plus, you can use it as a launchpad for a family, who will inherit the fruits of such labour. Multigenerational wealth is the only kind that matters.

See

Ahh, so you're one of those retards from Jow Forums.

That is incredibly cool. America really is the land of the free too bad very few people still fight for their rights to freedom or even understand what freedom is.

>The mentality is something like, all the money I'm putting towards rent is going to waste while I could be putting money into a home that I own.
Thats literally it. Sure there's upkeep, inflation, depreciation, etc, but that doesn't really matter when you can buy a house, live in it for 20 years, sell it and have $250k in the bank (or more or less). Can that money be saved/invested via other means and probably net you a higher return? Absolutely. Can that money be saved/invest while also providing you with shelter? No.

If you get a $300k house with $60k down (first time homebuyers can get houses with 5% down, but 20% is a good number to shoot for) on a 20 year mortgage at 3.6% your monthly payments are only about $1400/month, which isn't a whole lot more than most 1 or 2 bedroom apartments here. Why would you help make your landlords dreams a reality when you could be paying about the same and not see any return ever for it?

I've made 45k in capital gains on my property since 2016, not bad considering purchase price was 300k.

and I have a nice place to live in while I save for the next one, as well as accessing other financial products should I need them, cheaply.

This whole owning a house is shit idea is simply nothing more than communist subversion so you faggots are willing to accept living in communal housing.

prove me wrong, you can't.

>$300k house where rents for an apartment are $1400/month
Nice larp

assuming mortgage on 290k-300k loan is around 1300 a month, hardly a larp.

Guessing you don't have a homeloan so have no fucking idea.

Any costs above that just negatively gear it, so that's a tax benefit.

OP’s brain couldn’t be smaller

Those were examples, but they aren't very far off from reality where I live.

kijiji.ca/b-apartments-condos/winnipeg/c37l1700192

realtor.ca/explore-canada/manitoba/winnipeg-real-estate

Most apartments here fall into the $900-$1500/month range and most houses are like $200-$300k. For what its worth I just rent a room off my friend for $550/month, and this house he bought for about the prices I listed in my original example. But I'm not deluded enough to think that Im not just throwing my money away and it wouldn't be better for me longterm to pay more to actually own the property Im living in

Of course until you move and lose 10% when selling it.

Explain?

>mortgage
Mortgage + home insurance + property taxes on 300k is around 1600

Renting house is total shit. Owner can throw you away any moment and you will have to deal with finding a new house, relocation and all the stress that comes with it.

OP Here, let me be clear
I'm not saying rent in perpetuity
What I'm saying is people who want to buy a house as soon as possible with less than 10% down, 30 year, shit interest rate because renting is a waste of money are not thinking clearly about their situations

realtor rates are typical 6% on the first 100k, 4% on the next 100k and 2% on everything else. This is shared between the buying and selling realtors. Capital gains only apply to 50% of the increase in value of your house, and it just gets added onto your income and taxed like normal income. So depending on your tax bracket and how much your house appreciated, it might only be like 2 or 3% the value of the house. And as said, capital gains only applies if you make a profit.

Also, if you aren't an idiot, you're writing off a section of your house as office space, writing off mortgage interest, writing off property tax paid, etc to save money on your taxes.

again, so what

im my area even with all the costs it's still cheaper to own. The barrier to entry is savings and income, both of which I don't have a problem with.

If I were to rent this joint out I'd simply have a nice tax return.

>writing off
Nice meme. That will barely be above the $12000 standard deduction, if at all.

sometimes it's better to just get into the market.

If you're smart and a bit lucky, you can make enough capital gains to either refinance in a few years at a better rate or sell for a profit and repeat.

so you just pay more in taxes on purpose? There are way more tax benefits to owning rather than renting.

everyone in this thread should ignore you, you're obviously a fucking idiot.

You're the obvious fucking idiot. Larping about "write-offs". Guess what, "write-offs" are just extra expenses. Retard.

Refute anything he said retard

This. Just purchased my first home, will be renting part to cut the mortgage in half. Hopefully it appreciates and I sell within 5 years and buy a farm. If not, it's a nice enough house to live in long term.

Take a look at any mortgage payment schedule. The interest to principal ratio goes down with time. Plus you can usually pay extra when you can, to get the principal down faster.

Price of homes are still high in the major metros, and property taxes will always suck. However, renting will always have these costs built into your payment. The trick is to get a home that will go up in value at the best price possible.

Yes I'm sure by signing a mortgage he's on his way to become the next Rothschild.

>don't save wealth for your lineage goy, you'll never become like us. Just spend it on your own happiness, nothing matters except your own immediate dopamine release
Yeah, you're fucking retarded

>The interest to principal ratio goes down with time
By that point you would have already sunk plenty of money into an asset that appreciates at a lower rate than literally anything else.

>renting will always have these costs built into your payment
The price of rent is based on demand, it has nothing to do with property taxes. Take a look at all the landlords underwater in California where property taxes are higher than rent.

>The trick is to get a home that will go up in value at the best price possible.
I'm sure you know better than the thousands of real estate investors with years of experience and insider information on which properties are the best to buy.

Get in while you can while prices are going up, even if it's a non conventional (2.5% down, or similar) loan. You can refi a year or two later if when you have >20% equity. When you go to buy your next home you will have that equity stored amd can cash out for down payment on the next pad or keep the house to rent. This generally takes years, but in the end you'll be better off than just renting a similar property.

Yes goy keep on buying homes and giving more money to the realtors.

If you can't do the research to find the good buys, then consider yourself fucked in any market

>I think I can do research better than large companies with professionals who have been doing this for decades

Are you sure home office deductions are itemized and not in a separate schedule?

This

Biz is not the place to be discussing this. Shit coins only

Bought my place 4 years ago for 400k. Mortgage is 1800 a month with about half going to interest. I throw an extra 400 at it each month. With payments, property taxes, insurance and maintenance, I've spent about 130k on the place total.

The home is now worth 550 and I owe 350. If I decided to sell that's 175k profit after realtor costs. Minus the 130k put into the home, I'd be up 45k total. That's with the cost of putting a roof over my head for 4 years, plus the added security of having a place to call my own.

Now explain to me how renting would have been better.

I didn't say I approve of it. You have to FOMO when people are selling.

Not in major Western cities.

Assuming you put your 80k downpayment on the S&P 500 leveraged 5x (only fair, since a mortgage is 5x leverage), you would be up 80k.
Also, realtor costs are more than what you assumed, and homes today are consistently selling for under market price. I doubt you broken even so far in reality.

Just stop, user.
Comparing a mortgage to a 5x leverage S&P 500 is retarded because when the stock market goes down you lose 5x as much as the price drop and yet, if your housing price goes down, you only lose 1x the price drop.

No, you use 5x the price drop, compared to your initial down payment.

>all the money I'm putting towards rent is going to waste while I could be putting money into a home that I own

Serious question, don't these people know about property tax? They will be paying "rent" either way but their landlord will be the goverment. You never own your house

15k down my dude. Refi'd when I had 80% equity. Plus ur not taking into account renting out a similar house for 2200-2400 a month.

550 price is conservative based on the same model that just sold a few months ago for 575

Ok, you win this time.

Parts of America have incredibley low property taxes. Just have to think outside the box in terms of location.

I'd rather live in bumfuck nowhere with minimal expenses as long as I have a large amount of money to do so.

If isolation is a worry, build a dirt runway, buy an ultralight plane and fly that fucker to your nearest metro area if you need to.

Except for you know the housing you had and whatever amenities that came with your rental. People always like to omit the whole not being homeless in renting along with location and other perks unless you rent some section 8 shithole or something.