user here. Bought a house a few years back, renoed and sold, made descent money but not as much as you’d think considering I got several years of double digit value growth during the boom.
Tired of boomers who always say “real estate is the best investment you can make”. Meanwhile those same boomers when calculating their balance only ever count buying and selling price. They never factor in all the unrecoverable interest and property taxes you have to pay as well as insurance. Even though I had major growth years in the 20-30% range, when I factored on everything I spent on interest, taxes, Reno’s and addition al insurance, I would have been just as well off or better off to have invested all that money in bell telephone and taken my 5% dividend AND rented an apartment instead.
Unless your buying the house for cash with no mortgage you will pay astounding taxes and interest. A 25 year mortgage for 240k at a rate of 3.5% would cost 120k in interest and 60k in property taxes
Justin Thomas
you must mean at&t
Hudson Ward
omg yes boomers please leave us!
Ayden Hughes
We still have bell here, though I was just using it as an example of a blue chip dividend payer
Angel Young
Why even care about dividends? Plenty of tech stocks are 20% up YTD.
Always have a tenant in the house paying 50% over mortgage. How are millennials this dumb?
Anthony Green
shiiieetttt
Nathan Richardson
Don't blame your dumbass investments on Boomers, you fucking leaf. Maybe hire a CFP next time.
William Sanders
Look at this boomer shit, no fucken wonder everything is expensive as fuck for no reason other than you.... Boomers who do this shit get the gas, no better than fucking kikes
I’m just noting a phrase boomers always use. They also like to say “I sold my house for x, I only paid y for it back in 1985” which obviously if looked at like a balance sheet is totally false
Caleb Rivera
in canada you need to declare the earnings "profits" from rentals as income. Since we have high taxes in canada if you earn 100k + 13k on rentals you can be expected to pay half the 13k in taxes alone. Its fucking nuts. Plus you need to pay property tax and if you are in ontario, the tenants can do whatever the fuck they want and you have almost no legal ability to remove them. EVEN WHEN THEY ARE INTENTIONALLY DESTROYING YOUR HOME FOR FUCK SAKE
Tyler Mitchell
Still going to cost 60k in property taxes no matter how you cut it, and over 25 years you would definitely pay more than 120k in rent. You gotta live somewhere!
Aiden Nelson
Not to mention contractors prices are ridiculously high. A basic kitchen Reno will run you at least 30k
Samuel Thompson
gotcha. reinvest that shit with a DRIP program and I see your point. But who could have seen that paradigm coming? Where the over- financialization over everything forces stocks prices to be levitated at all costs,
Leo Green
That’s in addition to the 240 k principle you have to pay back.
Elijah Cruz
And god forbid you do the work yourself and attempt to rent it out, if word gets out you can be fined heavily or be forced to pay for a practitioner to rip apart the work and redo it. I fucking hate this god damn communist hell hole.
Hunter Ross
a stock is just ownership on productive assets. many tech companies are deep state garbage that lose huge amounts of money every year. would rather own small cap companies owned by gentiles.
Jack Carter
Exactly unless you pay for a bunch of engineers to sign off on every single thing you do at 500$ a piece
Xavier Long
Exactly. The best stocks to own are stable shares, bought during a lul, that pay significant dividend - something of real value, that actually makes money and pays you cash not a speculative value
Justin Watson
>240 k principle you have to pay back. this is the worst, people in my generation tend to shame me for not buying a home, i rent and live well below my means. I have more money in investments than their home values. Some still shame me its insane, i refuse to buy a home in this bloated market. especially when a tiny ass town home is 300k and i am expected to pay 2% per year in property tax which is rent to the state.
Matthew Nelson
That might be the reason the companies who are publicly traded start producing shit products... Because capital is more important than the product, apparently
Alexander Rivera
Yes I’m just lucky that I was able to buy when I did before things went haywire. Even with years of 20 and 30% value gains I still would have been better of renting a modest place and soaking as much money as I could into stocks instead of doing this
Isaac Powell
250k house vs 1000 a month rent
>$250,000 in other investments yielding 5% is $12,500 a year in lost income which is a wash in savings vs rent >Doesn't take property tax or upkeep/depreciation into account
>$12,000 a year to rent the same house without the other costs >doesn't tie up as much equity Property is a terribly inflated asset because people overestimate future returns. Almost all other investment avenues are better.
Jason Edwards
home ownership is a meme, you're going to rent some way, either you own the house in cash and pay property taxes to the state, insurance to insurance companies, and HOA to the community, or you rent capital to buy the house from a jewish banker, or you rent from a slumlord
that's why living in your car and showering in the gym is the ultimate redpill
Camden Martinez
enjoy your declining sales and eventual bankruptcy
dividends are bad because it means the business doesn't have better use of their earnings, same with share buybacks, which defeats the whole purpose of a business
