Home ownership

here is some fud

- you need to find the right people to rent, i.e. if they dont pay rent and shit in every room you will have huge costs. getting them out is pretty hard in europe aswell.

- during a recession / depression it will be hard to find people who are able to afford rent at all, together will falling house prices

- if shtf government can do things like "Lastenausgleich" in post war germany.

- you can't leave. this shit isn't moveable.

- not sure about regulations in USA, but we do have crazy laws in germany, causing a lot of legal trouble between people and their landlords.

Let's say I have 10k saved from my stupid wagie job and want to buy a house around 100k, a shitty fixer upper in my shitty little town.

I'm assuming my mortgage would be cheaper (30 year loan, 100/36 = 270$ or so a month + interest/utilities/taxes), even factoring all that in, would still be cheaper then my rent, so why shouldn't I do something like this?

Buying a house or an apartment to live in it and save on rent is a good idea.
Buying a place to rent it is a moderately good idea.
Buying a place to sell it later is a terrible idea.

Low returns, troublesome, stable, not liquid etc.

It's an investment but it's an overrated investment. Still, if you know what you're doing you can make a lot of money but that's true for literally any kind of asset.

For investing land and location is more important, because you'd be speculating on the growth of the community and local economy, which will intrinsically raise the value of the property no matter how shit it is (to a point).

It also doesn't hurt to be chummy with the local politicians, because they pretty much have a direct effect on you and your investments, and politically it's a pretty small pond.

I made this thread because I wanted people more educated than me to tell me if house prices are going to go up or down.

Is this bait?

if this really will be the next big depression prices are going down BIG

How much so? Like 30% maybe? I just want a rough estimate.

>home ownership
You can't own a home, Zoomers will refute this

>A home is an investment just like crypto and stocks

False. Illiquid money pits

Houses are a local market.

I mean if you rent the money you spend vanishes into thin air (landlords pockets) but if you buy you can sell the home back even if you break even that's better than not having anything at the end

I want to buy a house/row house/condo. I have 60k for a down payment saved up. 7 years of wage slaving. I’m too nervous to buy it, I’m afraid everything will crash when I do and/or my girlfriend will one day take it from me.

I did read an article about how cites can’t get any bigger only slightly denser. All the cheap farm land was used up. Market was flooded with cheap houses and crashed. So we might never see housing go down again, but that’s just a theory

the current situation is the following, the baby boomers are old and live in the big flats while the boomers with kids hardly afford renting or live in flats without enough space for everybody.

once the baby boomers die or move to old people's homes the market is going to crash unless speculation takes its place

Yes but I don’t see that start to happen for at least 5 years and another 5-10 years after it starts to reach full effect.
I also live on the west coast. Everyone wants to live here. When someone “dies” or gives up there spot here someone will move in. It’s not just local populations anymore.

Shut up boomer we're not buying your bags

I swore a long ago that I'm not gonna fill the pockets of greasy landlords. I've been renting all my life and i don't plan on doing so for another year. I've inherited a patch of land in a village near the capital of my country (just 15 miles away), best thing is the land is less than a mile away from the highway that connects the village to the capital. Im planning on building a small american style house that would only cost me 20k burger money. I will finally be free from people, noise, pollution and i wont be throwing money on the wind. I will be surrounded by forests in all directions yet i will have access to the internet. I can finally get a dog and a cat. Thanks for reading my blog.

I'm jealous. Godspeed user
I'm 23

That's great fren, I hope to own my own land one day as well. If I were you though, I would explore more exciting design possibilities for my home than some generic burger drywall palace.

Housing prices have hit peak.
That doesn't mean it is going to free fall, just that they aren't going to rise like they did.

It really depends user, everyone is in a different situation. I live in LA and I own a biz, am sitting on over 300K in cash, have a 6 fig income, and a 7 fig net worth. I will not be buying property anytime soon. It's not "wasting" money renting if the value you get from the money spent is greater than any ROI you may or may not realize on the sale of the property.

Why would it be?

Retard

You're trading your freedom in. How much is freedom worth to you?

This 109k house isn't too far from me in a suburb of Pittsburgh.

Most of you will look at this house and say wow great deal!
But you don't know the area.

Six years ago the house was listed for 85k and sold for 80k. It should be noted that the housing crisis didn't affect most of Pittsburgh, because housing costs were never boosted in the first place.

The taxes are high 2k to 3k a year, the school district is one of the worst in the state and it is very likely no matter what work you do to the house, that you will never be able to sell it for higher than you bought it.

So why did this house go from 85k to 109k, an increase of over 30%?
Because the owner thinks they can sell it for that because everyone says housing is more money now. They may be right, but this is a poor deal regardless.

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Its a matter of money really, of course i would like to invest a bit more for something nicer, but im not able to at this point. My first priority is not having to listen to my neighbors shout at each other and stomp around. A bonus is also not having to listen to all kinds of noises when i open the door to the balcony. We will all find peace, one way...or another.

I made a bunch of money from my first house, it was a fixer upper and only cost 80k, my dad worked in the construction industry for a while so he helped me renovate it, YouTube has lots of helpful videos on diy projects too. I ended up selling the house 5 years later for 160k, double what I paid for and an 80k mortgage payment is only like $450 a month, way cheaper than apartments.

All in all it worked out for me, but I'm not going to say it will work for everyone.

>Pittsburgh
niggers

What's the best city to buy a home?

I'm talking about a city that is affordable and has jobs, not like New York or San Francisco.

Thanks Frens.

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Yeah, depending on the city. Western areas of the city has less niggers than most of the country, while certain eastern parts have more. On average Pittsburgh has the fewest niggers of any major area, but mileage may vary!

Should I shackle myself to a 20 year mortgage in order to avoid the rental jew? I could get a 200k mortgage but having all that debt on my 40k/year pay feels kinda daunting. Then again the cheapest individual rentals are like 825 here so it is very tempting to save that money.

Pittsburgh is pretty based for a city. Used to work in North Shore, never have to worry about getting mugged and shit or getting hassled by homeless people as much as other cities.

Any small 75%+ white city within 3 hours of a major city is usually worth the cost

>Then again the cheapest individual rentals are like 825 here so it is very tempting to save that money.

Ummm why do you act like you will be saving all that money. $300 of that will go to tax, $330 interest, to say nothing of maintenance and repairs plus increased utility costs.

You obviously have down zero research in this yet you are gung-ho to spend 200 thousand fucking dollars!

Problem is we still have low wages, but city real estate prices went crazy high!

I guess that depends if you made it or have a secure job you can predict getting income for at least 15 of those years. If so, why not. Fuck getting jewed by property managers.

Based.

I have to move in the middle of nowhere for 5 months a year for work. (Pls don't ask what I do) the houses in said place are 100k so the mortgage comes out to 500 a month which even if I lost my job could afford on even a mcwage. I get 300 dollars rent money by my company. Should I take the leap?

>I get 300 dollars rent money by my company
laughinggirls.gif

no

15% to 20% depending your area...and it will more to do with boomers and a social security and health care issues than a traditional recession.

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It’s a dumb idea that sounds smart

You get fucked on taxes
Monthly maintenance
Large repairs
Utilities
Closing cost

It’s a ducking scam do the math