IT IS HAPPENING!!!

Couldn’t happen at a better time

mortgage should not be defuctible

Good. (((Shekelburg))) won't give me a loan for a house, even though I already pay more than twice in rent what I would pay for a mortgage on a decent house. Fuck 'em.

t. all in faggot

bum

So ? That's not unexpected.
It's not like in 2007 when everybody thought houses would continue to sell more and more at an ever increasing price.

my Dad bought 4 house during the last crash rented them out for couple years and sold for massive profits I think I’m going to try it this time around!

>It's not like in 2007 when everybody thought houses would continue to sell more and more at an ever increasing price.

lel

Attached: 1527009294648.png (829x543, 102K)

Good luck getting finance you fucking idiot

Finally.
Now we younger generations can finnally afford one instead of paying massively inflated prices by the real estate agencies.

Awesome. I planned on buying a home in december, perfect timing!

We already have a solution to this problem

Attached: 1650.jpg (1800x501, 60K)

el goblino

Attached: 1486110791523.webm (784x630, 1.34M)

>buying at the top

My friend did this and a few weeks ago his wife liked a post on instagram about a celebrity getting a divorce

Now I can afford a two bedroom town home in West Chicago!

t. Lifetime renter
Mortgage INTEREST is deductible.
Lifetime renter is probably an overestimation of your financial illiteracy, how's mommy's house treating you, son?

Attached: kys.gif (400x224, 1.79M)

Based Trump. Sacrificing his own real estate interests to MAGA.

Why do you post this every night

well u kno the feds raised the rates, so obviously thats gonna price more people out and lower demand

>Mortgage INTEREST is deductible.

Why? To incentivize retards into taking on huge debts to make lenders perpetually wealthy.

If borrowers werent encouraged to reduce their taxable income by having interest deductions they would borrow less, which is good for the economy, but bad for the lending companies.

F

Attached: 1512674629678.jpg (400x400, 20K)

Not all of us can afford a Sturmgewehr 57

If you think this was developed with the modern home owner in mind you're a retard.
Want to buy land for a farm circa 1900? I hope you're rich and just want to pick up farming as a hobby!
If businesses could not deduct mortgage interest only the astronomically rich fuckers would be able to ever purchase large plots land.
Also, I don't think you understand how a mortgage works. They don't generate perpetual profits. That's renting. You should make a club with that other retard who lives with his mother.

Attached: 1534513503061.gif (480x358, 1.16M)

>Also, I don't think you understand how a mortgage works. They don't generate perpetual profits.

listen you need to stop posting and also to stop speaking in public

I don't live off of credit so I'm
not worried one bit

good, i need a second property.
my boss just bought a new house too kek.

i am a lender and nothing is happening keep borrowing please

Good! This price gouging needs to end. And besides this mostly will hurt Jews and Boomers.

I hate to admit it because my family is into property investment but I can see it happening very soon. The last time the market crashed was a decade ago and my family's apartment in the middle of Chicago (150k 30 years ago) was valued right under half 500k. After the crash, the value dropped down to 200-300k. Nowadays it's valued close to 700k and is overvaluation. There's a lot of property in other parts of the city that are valued at 1M+ and have little reason to be valued so high. Property taxes the past year doubled and development has slowed...

Shit's gonna crash hard and it's gonna hurt. The last crash will look like a joke compared to this upcoming crash thanks to band-aid fixes without fixing core issues. The ones who caused it got away with it last time.

Attached: Screenshot_2018-10-25-23-12-57_1.jpg (714x1205, 127K)

>california's market failing equals housing market crash
"No"

Corrections have to exist, a crash doesn't happen in every scenario in history you fucking retard.

the fed is trying to crash the markets to get trump out of office
they will not succeed

Attached: 1529469845988.jpg (236x240, 10K)

You fags have been saying this for months. The housing market will never crash beyond a certain point in CA. Demand outstrips supply

lol

Total unit sales are lower, but prices are still extremely high, particularly in urban areas.

We're back in another housing bubble and consumers are more aware of the risks this time around.

I work a minimum wage job while attending (((college))) while paying off (((loans))) so I don't have to pay them later. I live in a shitty apartment, there is no fucking reason a boomer should sell a two story 3 bedroom 1.5 bath house for 3/4m, 100k is reasonable.
^this house is actually for sale in my neighboring town.

wtf I love dildos now

agents are just used car salesmen, hideously overpaid retail workers, they aren't to blame much

Great response, I was expecting you to move the goal posts with something like, "I meant they generate wealth perpetually in aggregate!" Instead your response was much more well thought out than that.
G'day mate throw another shrimp on the barbie and crack open a Foster's.

Attached: Boss_happy.png (631x677, 815K)

OH MY GOD!!!! It's almost like higher interest rates result in fewer large home loans.

Fucking brainlet

Lmao I live in an area Californians are escaping to and my estomated value has only gone up
It's up $15k in the last month

>Inb4 (((foreign investment))) and soon-retiring boomers relying on their shitty 75k house being arbitrarily worth +300k

Gen x and y wannabe boomers btfo.

Actual boomers are home and hosed they made their killing.

youre just a fucking retard who cant comprehend shit

who the fuck was talking about a single mortgage? the mortgage industry is a perpetual profit machine.

having the government, ie, the taxpayer, subsidize the interest repayments just means the collective is paying for some retard to borrow too much to enrich the mortgage industry who make higher profits the more the dumb fuck retards borrow

youre fucked

>its the agencies!
kek nope its the buyers who overbid for houses
agencies can only recommend what a house is sold at, the seller has the final say
this is like blaming the NYSE/trading companies for stock prices instead of the stockbrokers who have the final say on what they pay

its all these fucking boomers who think their house is worth a lot

>If businesses could not deduct mortgage interest only the astronomically rich fuckers would be able to ever purchase large plots land.

Clearly not true since the price of land is determined by what people are able to pay for that land. Without the debt inflated economy, those who wished to buy land could not compete against each other with ever increasing loans. Necessarily leading to lower prices even if only a few will be able to buy it, saving becomes a more viable option and property as speculation a less viable option.

How many fucking cuckpartments can they build? Of course the price is dumping. Especially with pajeets and their green cards expiring.

Housing is going to crash. The prices are just absurd and millennial aren't retarded and dedicating 30 years of their lives paying 50% of their incomes to a bank.

Just do the math. The old rule banks used to use is your mortgage is only supposed to be 25% of your income before taxes. If you fell over that threshold, the bank wouldn't give you a loan.

$629,000 house

Monthly payments FOR 30 YEARS: $3,000

Average income of a wagecuck is $60,000 a year, or $5k a month

Assuming said wagecuck has a wife that makes about the same, that's $10k a month. $3k a month is still over the 25% rule. 20 years ago banks would reject their loan application.

Conclusion: Housing is too fucking expensive. Even at $553k it's too much. It should be, realistically, around $510k. Even then, are boomers buying houses? And why the fuck would millenials waste their money on a house when most of them blow it on student loans and debt, and hardly any of them are married and want kids. Most millenials are renters. Yet, so many rental units are popping up on the market. So many apartments being built. Boomers buying houses now literally can't get into math and are so stupid.

This is all a recipe for collapse.

Attached: reeeeestate.png (946x952, 956K)

>the bank is going to kick me out of my house because they want a higher mortgage I'm paying 1300 a month already now I will become a rent fag.
AAAAAAAAAAAAAAAAAAAAAAA
AAAAAA FUCKING KIKES

Attached: images (1).jpg (187x270, 8K)

>plunge from 585k (revised) to 553k
>32k drop = 5.5%
5.5% is a *plunge*??

Doing some more math here:

In California the median income is $67,000. But let's just say it's $80k for the hell of it.

Let's say husband and wife make $80,000 each. That's $13,333 a month before taxes.

The old "rule" of buying a house was you had to make 4x as much as your monthly mortgage.

According to a mortgage calculator, said couple can "only" afford a house that goes for $700,000 on the market.

Said couple needs a house for their children, and for privacy purposes.

Said couple has no student loans. No debt, not that large car payments, and have stable jobs.

Okay, bank approves this loan. What does $700,000 buy them in major metropolitan California cities?

Oh right, 30 year old houses that are falling apart and made extremely cheaply. Remember, these houses were around $100k when they were made (Or $200k adjusted to inflation, but you get the point).

Said couple is literally buying a $200,000 house, with 30 years, yes, 30 years of wear and tear, for $700,000. AND THEY DON'T EVEN OWN IT AND HAVE TO MAKE PAYMENTS FOR 30 YEARS ON IT.

Does this make sense to you Jow Forums? Of course the housing market is a bubble. Basic math dictates this.

>a house listed at over half a million is readjusted by less than 100k
>DRUMPF BTFO HOUSING MARKET COLLAPSE AS HOMEOWNERS PUKE ASSETS

Attached: Truly.jpg (310x163, 6K)

Attached: boomers.png (968x634, 307K)

Forgot the down payment, but you guys get the picture. You still need another few years just to save up for the down payment. System is completely rigged.

I don't want to be a rent fag I don't want to live next to niggers.

You actually shifted the goal posts to where I said you would! Madman!
How do you feel about groceries? Are farmers assholes because I have to eat? CARROTS ARE PERPETUAL PROFIT MACHINES FUCK FARMERS!
While I can't say I love the idea of $50k+ deductions on multi million dollar homes I really don't have a problem with someone who makes $100k a year buying a $250k home and enjoying a small tax incentive for about ten years while simultaneously stimulating the home construction industry, and the manufacturing/retail behind whatever appliances are going in the house. That effect is diminished in old homes, but there is still plenty of market activity behind one home sale. And it isn't like these people don't pay taxes. They pay taxes, that's why they get the deductions. If they manage to get their money back their taxes still end up being an interest free loan given to Uncle Sam until after tax season. And if they do get money back, guess what fucker? Shit always needs fixing in a God dammed house, go buy some shit so it can be taxed, or pay an asshole to fix it and give him gainful employment.
Every apartment I rented had one handyman, who didn't actually fix anything . I'm sure you can't relate to that last part, what with mommy's home and all that.

Attached: 1378937269905.png (313x313, 115K)

tldr

IMO housing is a bubble. But it will not collapse unless normies buckle under the interest rate hikes. That or property hoarders find their debt to be unbearable so they decide to quit the game while ahead and dump properties.

To say the price people are willing to pay is the only factor in what price it is sold at is a little simplistic. If what you are suggesting is an economy that has no lending in it would have the ability to function because of reduced prices I strongly disagree. An economy without lending has no interest, so inflation is going to be almost impossible to control. Lending and interest is the backbone of the modern market structure for multiple reasons. It works and people get rich. I can't think of any economies off the top of my head that function well without lending.

He mad

Attached: 1258763836434.png (331x343, 169K)