Renting

>tfw stuck paying rent in NYC since shit is too expensive to fucking buy

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>Buy house at ath, goy

buying a house at ATH house prices when a crash is looming.

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I realized how cucked I was renting, so I moved back in with my dads. Now I can save money and study for a 6 digit job after I graduated.

Feels good.

Freedom. You never "own" your property anyway, the bank can take possession if you miss a payment and the government can seize it if you don't pay property taxes.

>not getting a free house from relatives

>living in a condo
gg

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>NYC
I found your problem

The absolute state of rentcucks.
>you underaged man
wtf man

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property prices at ATH, crash is coming, Rent now, buy with cash after the crash. the fuckin normies won't have funds available, they need to pay their death tax(mortgage)

>the landlord doesn't include his property taxes in my monthly rental fee
you serious?

This! I live in one of the few countres who haven't had a house bubble pop yet. Good years ahead.

I bought but I feel I am screwed over by property tax... it is around 1 month of rent for a similar property

It's weird but, somehow I get the feeling you're gayer than both your fathers.

>mfw own a small condo, so my property value can probably only rise during the inevitable crash as everyone seeks cheaper housing

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Rent this year, buy next year when prices are 60-70% off.

If you can't figure out the situations in which renting is superior to buying, you're a brainlet end of story. Take a finance course pls

How? I had a condo that was nearly twice the sq footage as my current house and I paid less than now

Can't go anywhere else. Fuck commiefornia and fuck anywhere else. I want to live and own property where I was born desu. Greatest city in the world even with these scum hipsters.

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This, housecucks don't seem to realize they are just renting from the bank and government

whats it like trying to be RE whale buying the top of the housing bubble for a "quick flip"? Go back to serving at chilis

> freedom to leave when lease ends or any time on month-to-month; don't have to sell
> no taxes
> if air conditioner or anything else breaks, have tech guy fix it that day at no cost

LOL

> Thinks maintenance costs are static and doesn't think it's equivalent to rent.

> Thinks owning sky property is a real thing

how did you know? ;3

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the freedom is the only valid pro. taxes and reserves are baked into your rental fee to cover such things. obviously you never see it, nor are you able to critically think, which is why you didn't already know that.

>NYC
>Greatest city in the world

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>Implying landlords aren't operating at negative cashflow and the only reason they hold property is to gamble on capital appreciation.

>keeps telling himself he can time the market

I personally wonder if there is like some inferior pleb gene. Can we trace the renttard back in family history? Sorry i should stop hating. Rent my fuckin shit man and go to work n shiet. Fuckin nigger :D.

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What about the maintenance argument?

>living in a house

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>and pay him in crypto
>Bad idea!
Retard OP spotted

Dumb housecucks already forgot about the year 2006

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Again, the costs are baked into your rental price
There is some comfort in just letting the rental office handle it though, rather than having to call the plumber/electrician/whatever yourself and deal with them

>rent
>850 a month

>buy
>$1000 mortgage
>$900 monthly taxes

As lame as it sounds, I am so glad I can come to a place where multiple people agree that we're in a housing bubble. All the normies from work keep asking about when I'll get into housing otherwise I'm going to miss my entry point and how housing prices only ever go up and I should take advantage of the low interest rates now. Two of them have fudged up payslips to even get approved. Fucking morons. A really decent brick house in Sydney used to cost 3-400K 6 years ago. Now a crappy fibro costs over a million in my area. How retarded do you have to be to take out a loan for a million for a house that doesn't even have solid walls.

A guy I work with makes 65k a year and got approved for a 900k mortgage

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Vancouver fag here. Sales volume is down 30%, prices are slipping but condo wash traders unitonically expect new buyers to accept that condos and townhouses holding equal prices to single detached is a "lifestyle choice". The debacle is making me dangerously erect.

>$1,200/month rent
vs.
>$8,000/month mortgage
I'll be going with the rent until I can get out of this hellhole, and then I'll get a house

>these ridiculous numbers

get out of the city baka

>not living in your car
not gonna make it

You were comparing your mortgage cost without prop tax to rent cost which includes prop tax, you fucking idiot. If you want to compare, add prop tax and cost of repairs to your equation.

lol, if he actually takes that much out he'll be ruining himself financially for the rest of his life.

Los Angeles is like that
I could but then I'd need to waste more than two hours of my life every day commuting and I'd rather spend a bit of extra money. Don't mind too much though since I get paid almost six figures just to look at monitoring systems and make sure servers stay up and running so it's a very comfy job

Would be lying if I didn't say I was looking forward to a rate hike. All these people going through a few months of agony trying to come up with a single months mortgage repayment before inevitably defaulting. Not everyone, just the few that made incredibly stupid decisions like that.

Gold Coast eventually, a bubble burst would make these crypto gains come in handy though.

It's shitty but I need somewhere to live

My man remember that retard in 10 years when interest rates skyrocket then realise the last 10 years of his life have been to make banks richer. Kek
I have never taken a loan unless is fixed interest no early pay off fees and 5 years max. Almost paid 350k off now so just about own a shit load of prime growing land for green

>i don't know how to follow a conversation, or read for that matter
the post

you're a literal mongoloid. if an air conditioner system needs to be replaced in your house, that could cost potentially $5000 depending on the size of your place. dividing that across 12 months in a lease, that would mean the lease price is an extra $400 a month? what if the refrigerator breaks too that year? you're a fucking idiot.

>implying I'm not saving more time and money by renting right next to work & groceries

fuck a commute to and from the suburbs. and I've already not had to pay for a new water heater and washer & dryer.

The point is a lot of people are and this kind of behavior causes crashes.

you should start an insurance business breh, you've got all the actuarial and underwriting skills needed

someone tell a retard why houses are bubbled?
i thought they weren't too bad in my area...how long till crash..1yr 2yr..?

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>Buying
>Mortgage goes to your house
>2% is interest
>Close to inflation rate
>housing price goes up 2-8% per year

>you basically buy an asset and paying it off.

>rent
>all of it goes to the owner to pay of the mortgage, bills and small profit

There is literally no reason not to buy.

yup, exactly. just like in The Big Short.

makes me happy that i'm renting for (relatively) cheap in a HCOL city.

i pay $825 a month in rent, splitting a 4 br house, where a starter home is $750,000+ right now. bring on the crash! i've got enough cash to grab something decent after for sure.

>>housing price goes up 2-8% per year

this is very dependent on the area, and is also very dependent on whether another housing market crash is imminent (it is).

>1yr 2yr..?
most likely, this one is predicted to be EPIC

I own a couple properties and although I've never been rich it works because I was a property maintenance guy for years and I've never had to call anyone to fix something at my house or one of my rentals, its really is great especially when you're not in a big city. Only downside I've had is one of my condos was built in the 40's and the "common area" problems are a pain when the landlord next door won't pick up the phone about a busted pipe leaking into my unit.

>>rent
>>all of it goes to the owner to pay of the mortgage, bills and small profit

except the giant down payment nut that you put in the market to appreciate

Prices go down when rates rise.

They have insurance policies for this shit you dumb nigger

You on section 8?

>live in a little comfy condo,
>paying HOA's monthy
>another form of rent scamming
>you don't really own the place
>if you don't pay your HOA they'll take away your condo and kick you out and take forever to return your initial investment of the condo's cost.

Wait, are there people who are dumb enough to rent? Seriously? I thought this was just rich college kids whose parents pay the bills.

Everyone I know just lives at home until they can buy, or buys ASAP.

> home prices crash, lose hundreds of thousands in equity paid into
> you lose job, can't pay 30 yr mortgage after 15 yrs in, home taken away
> your homeless

fucking this I own 3 houses and a condo and the fucking 800 sq ft condo is the biggest headeache imaginable.

>this is the wrong time to buy a house
¿por que? I have been saving and have enough to buy a house

when's the ideal time?

I am
When's the crash due, lads?

This guys got it. Homes can appreciate relatively well, but property taxes and the liberals really like to fuck with forms of established wealth. I'm sure a similar amount of money into various other investments (like a business or hedge fund) may yield better results. At the end of the day, property taxes and mortgage interests can beat out a rent in terms of cost.

they can't tell you when. they're also children that live at home with their parents.

a year or 2. could be '29 levels

>condo is the biggest headeache imaginable.

Right? It's fucked up. You're only making the the Condo Firm richer.

stay poor!

lol come on man

>Condo Firm
the owners run my association

i'm pretty well off

Because I fell for the city life meme.

>renting is bad
Only if your the no job faggot whose renting
I bought 2 complexs from the profits i made from cyrpto my 20k a year job a few easy loans and my inheritance and i rake in dough

I literally just closed on a house today. It'll save me $300/month versus what we're paying for rent now, but I'm too tall to fit through the bathroom door. Fuck the manlet-infested 1920s.

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Thanks to dumb fucks like you i will retire a millionare

what the fuck are you doing on this board? do you know about derivatives? tranche? QE? lowest 2nd Q opening of stock market since '29

Yes goy take a loan and buy a condo right now, don't worry real estate prices will keep going up forever.

No, educate me so I don't go astray, user

your welcome fren

>tranche?
in the context you provided, that makes no sense. you probably watched the big short and think you understand things. sad to watch.

I saved up 50k about 10 years, and went to buy a house. Decided to rent and put it on stocks and eventually BTC. Now worth about 1mil but I don't own a house. If I had bought a house it would probably be worth about 1mil, but I don't know if I would have paid it off. I'm in front by renting

Many landlords buy with cash, so you're not guaranteed that they're charging a premium over PMI.

>1900 dollars a month
>actually owning something that you can later sell
Cant sell an apartment

>They have insurance policies for this shit you dumb nigger
true but have fun with that. $700 a year and they come out and charge you service fees and try and repair parts first before replacing full units. or they pay for only a portion of the repair, OR if you're completely lucky theyll pay you after 3 weeks in the middle of february when youve been without heat while the comfy guy in the rental unit next door had his landlord cuck fix his heater the same day it broke.

Depends where you live. In many EU countries renters have lots of rights (can’t be evicted unless they choose to leave or stop paying).

It also makes you much more flexible in terms of moving to find work etc.

Fucking move out of that shit hole right now, stop living in the outhouse of the rich

Your problem is that you think this 2 - 8% is somehow guaranteed, this is the normie sentiment and the basis of ausfags over investment. People are literally borrowing more money than they will ever earn in their lives.