Home Ownership

[imperiouskitten]

Originally Posted by unsunghero [You must be logged in to view images. Log in or Register.]

Jealous that are least you are rid of it though. I have this friend/co-worker who’s dad taught him about the stock market and investing ever since he was like 14. He started on his own as soon as he was able, and I’ve almost never seen him lose money on any of his stocks. He also made thousands getting into Bitcoin before it was big. Sometimes I get a little tempted hearing him talk about investments and ask what he would recommend for me to invest in, stock wise. He always tells me that the absolute best use of my money right now is to continue paying off my credit card debt. He said no stock gain is likely to come close to what the interest is costing me there. Already figured that, but it’s boring lol. Just gotta keep plugging away at it I guess, and resist the urge to spend. 2 of the cards I don’t have a physical card for anymore and refuse to order another so that helps with the discipline in not continuing to use it

It’s a seller’s market right now with buying or renting a home, and the bubbles are cyclical so a bust will eventually come when prices go down. However if a person is pretty networked theoretically they could just use roommates to completely cover their mortgage, even with no income of their own coming in. But that would mean finding ones with reliable incomes and ones that might be ok with sharing things like a bathroom. And then there could come questions of ok who is going to do cleaning/maintenance and then what is the plan if there’s drama amongst roommates or something?

Oh man I just can't do the roommates thing although I believe in its power very much. Partnership is the best I can do psychologically, I have learned by experience. Oh the sexual harassment I have gotten from roommates too dude. Having work the next day and the couple you live with is drunkenly demanding a threesome. Just because I worked the flirtation angle to get my foot in that killer deal of a rental with the charitable christian landlords going under market rate...sheesh it's not a quid pro quo thing man!

as for buying a home you are definitely right. remember the bust of 08. if you had cash in the bank for land you were money green golden. i was too young [You must be logged in to view images. Log in or Register.]

[starkind]

I want my home to be owned and armed by liek Canada or France, not the CCP or USR

I'm a seditionist traitor [You must be logged in to view images. Log in or Register.]

[unsunghero]

Originally Posted by imperiouskitten [You must be logged in to view images. Log in or Register.]

Oh man I just can't do the roommates thing although I believe in its power very much. Partnership is the best I can do psychologically, I have learned by experience. Oh the sexual harassment I have gotten from roommates too dude. Having work the next day and the couple you live with is drunkenly demanding a threesome. Just because I worked the flirtation angle to get my foot in that killer deal of a rental with the charitable christian landlords going under market rate...sheesh it's not a quid pro quo thing man!

as for buying a home you are definitely right. remember the bust of 08. if you had cash in the bank for land you were money green golden. i was too young [You must be logged in to view images. Log in or Register.]

Ya, and another big vulnerability of that plan (and the reason I deleted that section), is that claiming to have future roommate rental payments as income won’t be accepted as income on a mortgage application. Most likely with no current source of income, the application would be declined

So (assuming one could get decent roommates), the plan would only work for someone who already had purchased the home somehow

[Jibartik]

I really do hope there is a massive crash. People that invest in real estate do not deserve the security they have.

Evergreen took out a 300 billion dollar lone to invest in real estate. A 300 billion dollar loan.

I hate for profit real estate all it does is cause collapses.

[unsunghero]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

I really do hope there is a massive crash. People that invest in real estate do not deserve the security they have.

Evergreen took out a 300 billion dollar lone to invest in real estate. A 300 billion dollar loan.

I hate for profit real estate all it does is cause collapses.

Yeah and what’s that one that’s buying up like….everything? Blackrock? I just remember it because it reminds me of WoW

[Duik]

People want McMansions. Median, average (whatever) price has been driven up by the youngens wanting what they cant afford, and what the fakebooks et al tell them they need.
Not all houses are three quarters of a million dollars. Not all houses are 150k either.
Im an old '65 model, i built a house for 102k + 1 year to do it @ 50k loss of earnings so 150k, modest house ¼ acre lots of work nearby. 3 cities within 50km.
This will piss the youngens off.
Payed cash for my house. The company i work for now, the owner told me it was the dumbest thing ive done. Should have leveraged this and negative geared that.
I disagree.
This is only Australia so probably doesnt count.
YMMV.

[Gatordash]

Good news everyone.

Existing-home sales dropped 2% to a seasonally-adjusted, annual rate of 5.88 million in August, the National Association of Realtors said Wednesday. Compared with August 2020, home sales were down 1.5%.

“Although there was a decline in home purchases, potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory,” Lawrence Yun, chief economist for the National Association of Realtors, said in the report.

The good news for would-be buyers is that the inventory of homes for sale is improving. Since the low reached in the winter, inventory has risen roughly 16%, according to an analysis from Ian Shepherdson, chief economist at Pantheon Macroeconomics. At the same time, price appreciation has slowed, with home prices now rising by less than 1%, according to Shepherdson’s calculations, rather than more than 2% per month at the market’s peak.

“These trends are likely to continue, as sellers realize that the window for cashing-in at the best prices appears to be closing,” Shepherdson wrote.

[Gatordash]

The eviction moratorium was pretty much what everyone thought. Reports here in Las Vegas are that people just didn't pay rent for a year because they didn't have to. And now that the moratorium is up, instead of staying where they are and going through this whole government assistance program that we have heard politicians tout as necessary because these poor people couldn't pay rent due to coronovirus, they are just moving out and leaving landlords to pay for everything for the past year. The next breaking story will be when we discover that sending checks to people to do nothing makes them sit at home instead of go look for a job. Then the breaking story after that will be having a population that doesn't produce any GDP turns out to be bad and just printing money may not be the solution.

[Whale biologist]

Originally Posted by Gatordash [You must be logged in to view images. Log in or Register.]

The eviction moratorium was pretty much what everyone thought. Reports here in Las Vegas are that people just didn't pay rent for a year because they didn't have to. And now that the moratorium is up, instead of staying where they are and going through this whole government assistance program that we have heard politicians tout as necessary because these poor people couldn't pay rent due to coronovirus, they are just moving out and leaving landlords to pay for everything for the past year. The next breaking story will be when we discover that sending checks to people to do nothing makes them sit at home instead of go look for a job. Then the breaking story after that will be having a population that doesn't produce any GDP turns out to be bad and just printing money may not be the solution.

There was a Seattle story about a dude renting (small) hotel rooms for $365/mo to singles("bachelor hotel"). But the moratorium meant he couldn't evict anyone so nobody paid and it got wrecked.

He went bankrupt and lost his business. Now the city took it over as $600/week low-income housing.

🇺🇲

[starkind]

We just shouldn't respect the authority or legitimacy of 300billion dollar loans, gg motherfuckers.

Not what god wants. Jesus says do better. Topple them temples.