I know these threads pop up more and more, but should I just wait a few years to buy a house or strike while interest rates are low?
Is it even worth it buy if you plan to sell within 5-7 years of buying? A large part of me no longer wants to pay $1200 in rent, when I could pay $1200 in a mortgage and make some equity, but let's say I keep climbing my ladder at my current job and in a few years can afford a better house in a better location.
I can afford it, I don't know if "because I can" is a good enough reason.
As long as you're debt free, renting isn't bad. Build up enough money to put a good down payment and make sure you don't become house-poor So many people buy a house thinking it'll save them money but in the end they become slaves to the house and mortgage
Landon Rivera
houses are worthless. you par 200k to 10 million for 18,000 in material and a tax bill. they are the shitiest investment scam there is
Jordan Brown
This user gets it.
Wait a few years once boomers die off they literally won't be able to give houses away
Joseph Foster
forgot the cost of the land your buying and labor costs to build the house. unless you can do it your self, which i doubt
Blake Baker
lol thinking boomers changes aren't permanent
Justin Morales
The absolute state of Jow Forums.Throwing money away monthly on rent where he could not only gain equity but profit from the rise in housing prices.
Don't listen to these fucktards user. Buy as soon as your comfortable even when it's tight. Your salary will increase and the payments will get way easier.
2 years ago I had nothing to my name. Now I can bank 60k- 80k of profit if I sell my home.
Just make sure you pick a somewhat of a healthy neighborhood close to public transport and schools and you're good.
Blake Carter
Houses are a black-holes for money, there's a lot more costs involved than just the mortgage.
Jaxson Fisher
LINK level delusion.
housing bubble has ~2 years left, maybe less, then it's going up in flames. buying a house right now is the same as buying BTC at $18k on the way up to $20k. sub prime lending is back in full swing and you don't even need to make down payments anymore. and the regulators keep lowering the credit guidelines every passing month to keep people buying, it honestly makes me sick.
Juan Hughes
Everything is a gamble.
Colton Ross
You have no idea what youre talking about. I build houses for a living and am a civil engineer, do you seriously think materials cost 18k lmao? That might buy you a third of your slab and the rebar to go in it lmao. You are clueless no one should take any advice from this guy
Connor Wilson
Just wait. Rent until the next bubble pops. You will probably have a great chance to buy in next year or the year after
Jackson Howard
Friend we are very close to the housing collapse. I see a maximum of two years left and that's conservative. You'll be able to get any house at least 50% the value. Just wait. It is coming. Imagine being able to buy an entire neighborhood street with just a few Bitcoins. Hold on user.
Colton Morgan
> Buy ETH >Wait till the housing bubble pops >WW3 >Stock Market Crash >Hyperinflation >ETH is worth a lot now >Buy Real Estate >Never have to wake up before 5 again
Advising people to FOMO into a house? You probably said the same thing about btc at 20k
John Nguyen
goddamn this thread. people have the whole order of things messed up with this talk of housing prices collapsing at the same time crypto becomes massively valuable. in the US, this is impossible. so much of our economy and money supply is based on housing and housing credit that a 2008 style crash would mean all assets become worth less in nominal terms because the velocity of money falls and the economy goes into a death spiral. right now the fed will just raise rates very very cautiously and probably ultimately not raise them much higher until wage growth catches up or too many people rent housing that is owned by investors, which is the way the trend is moving. I don't see a crash coming any time soon because the fed can basically just not raise rates and wait for wages to get to a point where they are able to. they don't give a fuck about money printing, in fact they want a weaker dollar to help the economy be competitive internationally. posts like this topic popping up constantly is just more of a reflection of the idea that we are not too close to a crash. people are generally uncertain and nervous, but the markets are generally stable to strong in most areas. The one area that's troublesome is credit requirements being lowered. That is basically how it will happen, once they will give loans to anyone without verifying the info
Ryan Cooper
i own a condo with is the worst investment possible.
owning a house or condo is retarded. the only reason is if you have a nice white wife and kids and you want them to grow up in a decent house and school district.
the only other time to own is if you can get into some decent commercial real estate.
Blake Hernandez
The house price bubble is visible pretty much everywhere in civilised world and even when the demand seems to get weaker, there always is migration to fill in the gaps. I really can't see how the house price would decrease if building a new house is way more expensive than buying an old one, in Europe at least, where the houses are built to last.
There will not be more land to build on available out of nowhere. One of the factors that might cause the land price to decrease noticeably is wide adaptation of autonomous cars, by increasing the acceptable time you'd be willing to spend on commuting and therefore increasing the comfortable living distsnce from a city. This could potentially 'dilute' the price, but still, not likely to be enough to cause housing price crash.
Andrew Howard
Where do you live user? If you are an Ausfag I'd wouldn't buy now. People missing mortgage repayments had a decent spike last quarter and house prices have already started coming off a bit. My plan is to build a decent net worth through saving and cryptos then buy some real estate following a correction. I don't think housing bubbles are as severe in other Western countries as they had a large correction during the GFC while we haven't had one for 25 years.
Eli Adams
False. Where I live a 5” slab for 2500sqft house is 38cuyd at $98/yd : $3724. Rebar @133 20’ sticks comes out to$1064. 7 spics at $150/day for two days is $2100
Carson Sanders
I dunno, calculate your TCO under different scenarios.
