/biz/ - Business & Finance

You should buy a house period if youve got the down payment and youre already paying rent. Wait to see if the 15k tax break is real though.

I wanna see how it is after all these shit is done. 50% unemployment, people behind rent and mortgages, foreclosures, evictions, should be a great time to buy a home

>>28916196
>Wait to see if the 15k tax break is real though.
Isn't that only for new buyers? I bought in 2019, thinking of selling now.

>>28916362

Oh i was confused. If you see a home as an investment, yea sell this year. If you plan to live there 20 years just keep it.

>>28916061
>Just got my first full time job for $15 an hour
>Have no debt whatsoever
>Already have a few grand saved up
If the housing market crashes am I gonna make it bros?

>>28916559
If you keep your job, and you save up enough to buy property with cash and you keep your dollars in physical. In 08 they had to completely freeze all credit lines, you couldn't even use your debit or credit cards to get the gas that doubled in price overnight.

>>28916743
I can understand freezing credit cards, but debit cards? What the fuck was that for? Were too many people using them to withdraw all their cash from banks or some shit?

>>28916061
I hope so, I'm looking to roll some crypto stacks into real estate

>>28916196
No way it is for anyone other then say sub $75k a year. Just look at there stimulus eligibility requirements.

>>28916061
I think the moratorium got extended through June. So we got a while longer and it will probably be worse.

no

>>28916061
dont treat house as investment wtf. youre supposed to LIVE THERE. This is why housing costs so fucking much, every idiot "investor" with enough capital for a down payment tries to play stonks w/ property. IF YOU WANT TO LIVE SOMEWHERE, BUY IT - IF NOT, FUCK OFF or become a landlord which probably sucks fucking dick.

>>28917215
You're only half right.
The part you're missing is that foreign(mostly Chinese) investors are the ones buying property that they will never see with their own eyes.
And those guys will never read your post.
Why would they waste time reading an Albanian pigeon breeding forum?

>>28916061
>not living in a crackshack and treating it like a depreciating asset like a car

ngmi

No

I think they'll appreciate even more as long as the fed keeps pumping money in the system.

>>28917215

Housing costs this much because of government subsidy of mortgages. Homes could be purchasable with a year or 2 of salary 70 years ago, that all changed as we pushed further and further into the "gotta get a 30 year mortgage at low interest" mantra. The lower the payment, the higher the cost of the house can be, it cancels out. People didn't want to wait 5 years to save and buy a house outright, they wanted their house now and said fuck it about the payment.

>>28918167

So from this you have 3 big factors driving eternal housing inflation: general fiat inflation (2-4% per year), federal subsidy of the mortgage industry, and sticky values (i.e. homeowners won't sell their house unless they make a profit off of it, they'll stay there longer, not like stocks)

>>28917588
my plan is to sell and do exactly that

>>28918284
Also, don't forget immigration and foreign investment.

>>28916972

I made $30k last year asshole

Idk but man everything on the market gets bought immediately no matter how over priced it is and because of such low rates it really makes me think we are due for a correction. But shit I got cold feet on a place a year and a half ago that’s now worth 75k more than what I was gonna buy it for so maybe the Jews will just inflate the market forever or at least until the boomers retire and no longer care to prop it up.

>>28916743
damn, what country was that?

>>28919481
yeah that's what i'm thinking. i want to get my equity out at a good price while i still can

bump

>>28916061
>>28916196
>>28916313
>>28916362
>>28916539
>>28916559
>>28916743
>>28916832
>>28916899
>>28916972
>>28917133
>>28917153
>>28917215
>>28917377
>>28917588
>>28918051
>>28918167
>>28918284
>>28918293
>>28918324
>>28919006
>>28919481
>>28919967
sell now

imagine wanting to pay money for a particle board 2x4 shack

>>28921478
I don't have a house. I has my biggest financial year ever last year and the crazy spike in price means I stay in my cuckbox apartment. So now I'm here learning to invest.

>>28916061
No it's going to crab.

Housing prices went crazy in the non big metro area last year due to lack of inventory and people going on a buying spree. With the Foreclosure moratorium and rent moratorium coming to an end SOMETIME this year, alot more inventory is going to come on line which will depress/stagnate the price if you're planning on flipping/renting a property.

Money printing is still going BRRRR and interest rate is still going to be low. Input costs such as lumbur are much higher now than before as well. Things are going to stay at these prices and not move in most areas.

>>28921478
>selling your home

Nah dude I'll just buy another one if the market crashes

>>28916362
Most of the time new buyer only means you didn't buy a house in the last 3 years using their program.

>>28916313
Foreclosures just got pushed out biggly any degenerate who wasn’t paying their mortgage can now apply for a 6 month extension before June 30th

>>28921915
This is the key. Price will keep rising as long as there is a moratorium. Once that's gone prices aren't really going to crash in a big way but there will be more competition in inventory, which will causes prices to stay relatively where they are now.

Might cause a crash with a big black population though as niggers and white trash are usually the ones that can't pay their mortgage.

Yea, Tim is the man. He always comes with the greatest pumpanomics. SAV3 is great because it has 2 mil in locked liquidity that's owned 100% by the protocol (locked in burn address). So the sav3 price moves up and down with ETH. So if all else fails and volume dies, your LP token will move with the ETH price, and gain APY with all transaction volume. But then just factor in the fact that SAV3 WILL MOON, and you're gaining traction both on ETH PA and SAV3 PA.

Everything is being sold over asking price within just a few days if it being listed. It’s insane and seems even worse than 2007.

>>28919481
This. The long game has always been to siphon the wealth out of boomers, let them die without too much upheaval, and then stab their children and grandchildren in the back.

You should buy now.

The reason you could buy a house 70 years ago for 2-3 years salary is that salary were higher in relation to living expenses.

In the past 30 years salaries have remained stagnant while cost of living had skyrocketed.

The mix of increase in inflation and regulated interest prices are going to bottle rocket housing prices.

Just look into sav3.org. you can find token info at token.sav3.org ... it's legit, idk why people think 2 mil mcap is the peak lol.

>>28922232
They will have some hefty estate taxes in place by the time boomers start dying en masse.

>>28922421
Bought my house in April of 2020 for 500,000. It just appraised for 620,000 and i removed my PMI, all in less than a year.

The month the stimulus came out last year my house increased 30,000 in a 30 day period.

I can’t wait for the next stimi check (even though I won’t qualify)

Yeah im a doctor stuck in a shitty rental townhouse. Been looking for a house for 12 months in very rural midwest town but everything is dilapidated shit that is extremely overpriced. Really want to get my family into a house but I am sickened by how insanely overpriced shit is right now.

>>28916061
House market crashes in slow motion. You'll know when we are there

>>28916559
15 dollars an hour after tax is like 10. Nigga how can you afford anythinh

>>28922544
yeah i could see it going up more but we are already so high i don't wanna get too greedy and hodl until it dumps

>>28916061
literally don't buy a house until you can wire $350k to the seller faggot, fuck mortgages

>>28923458
I don’t think it will. Everyone is looking at this wrong; housing prices aren’t increasing because we are in a bubble. They’re increasing because the value of the dollar is plummeting. It’s ironic more people here don’t see that as that is also the reason crypto is even a thing. There’s not going to be a dump, the divide between the classes will grow as the dollar plummets.

Doomp the dwellings markeet.

>>28923632
With interest rates where they are currently this is horrible advice. You should actually put as little down as possible to get the best rate. You should be able to get a rate that is actually lower than that of inflation. Then invest the other cash.

You Americans think it's bad, check out what is happening in Canada.

>>28923687
Yeah but i'd still rather get the equity out and invest it somewhere else where i can diversity more and potentially get more gains. I would only keep my house if I was planning on staying in this location long term but i'm not.

>>28916196

How would this 15k tax break work for people like myself who just bought a house? Are these kind of things retroactive?

>>28923632
Some idiot comes in here and says this shit literally every thread. A rational actor should ALWAYS take out a fixed rate mortgage if their personal discount rate is greater than the mortgage rate.

Stablecoin lending is double digit APY. There is no excuse for this ignorance on this board.

>>28916196
I live with my parents and don't know where I want to go, or else I would. But looks like I need to rentcuck and travel around until I find a place I feel safe investing in

This is generally a good time to buy a house. Interest rates are low as fuck. Get a fixed rate and you'll be paying the exact same amount for the life of the loan. Inflation is about to hit hard so you'll likely be getting paid more dollars but your mortgage payment will be the same as it is when you first got it. and real estate is great in times of inlation

>>28924075
i looked up the one they did like a decade ago and it was retroactive for a couple years. i tried to find how long this one would go back but that info is not available yet it seems because it's still just a proposal (might not even happen)

>>28916061
As someone who isnt going to buy a house right now (but I already have a fully paid off apartment in a major city) the questions for me are: 1. Is this the time to try and make money or park it in precious metals and wait? 2. What is this going to do to crypto? It doesnt seem like crypto has yet, if it ever will, establish itself a standard people can put money into to insure against this.

>>28923398
I only pay $300 in rent, don't live in a nigger infested shithole, and unlike 90% of my country I'm not an alcoholic or addicted to weed and heroin. It turns out it's actually easy as fuck to save money when you don't blow $800 on weed and chipotle every month.

>>28921478
And live in an apartment like a bitch? No thanks.

My mortgage on my 5500sqft house with a four car garage and an acre of land is just under 1000$ per month. I couldn’t rent an apartment the size of my living room for that little. Sure I pay tax utilities and upkeep but even with that idc if the value of my house goes down 50% (it won’t) renting is dumb as shit.

>>28924098
What do you mean by this

>if their personal discount rate is greater than the mortgage rate

What's personal discount rate?

>>28924963
People buy weed? Kek

>>28916061
Nothing can crash ever again

>>28916313
People are going to dump property thats no longer bringing in profit lol.

>>28916061
>Is it going to crash
Lol. No. Everyone of these threads is full of people with money who want to buy. EVERYONE is waiting for a crash so they can buy. That is exactly why there will not be a crash. Do you think you are the only one with this idea. NO. EVERYONE IS WAITING TO BUY. The government wants the land. China wants the land. Warren buffet wants the land. Crypto millionaires want the land. Look at the stock market. Everyone is rich. Why in the fuck would prices go down. NO ONE IS SELLING. EVER.

>>28925667
based

>>28916313
Rent yes, but most of the people whose jobs got rekt by rona weren't paying mortgages

>>28925667
This guy gets it, we hyperinflation or dead just enjoy the ride

>>28918284
Also, it costs 5% in real estate fees to sell. Who wants to lose 50k on a million dollar home, when they can just rent it out and keep it.

>>28916061

Only way for it to crash is if we have a world war 3 event. Very unlikely.

>>28925286
>What's personal discount rate?
The personal discount rate is an individuals subjective time value of money OR the actual maximum expected value from an investment strategy a person could obtain on average, whichever is higher. It's basically the amount of money you would pay immediately for some amount of money in the future. Do not consider inflation yet, you add that on top after.

For example, if you know that stablecoin lending exists and you have the IQ to use it, your personal discount rate must be at least ~11% a year.

If you reasonably expect to make an average of 10x after a year of flipping shitcoins your personal discount rate is 1,000% (and you're fucking delusional).

If you expect to die in 24 hours and have no heirs or are nihilistic, your personal discount rate is probably 100,000% or more, meaning you would prefer to cash out all of your investments and consume the money immediately regardless of how good an investment it is.

Personal discount rate also determines what rate of debt you are willing to take on. If your personal discount rate is high (such as the situations we described above) you are rational in accepting debt of a rate below it.

>>28925667
This.

Buy a house now, interest rates are below inflation and they just keep printing money. Another issue is large swaths of houses and land have been bought up by institutions with the free money flying around. They are putting up apartments and subdividing what were average three or four bedroom homes into three unit apartments and charging each unit what the entire mortgage would be.

The future they want is they own everything (houses, cars, bikes, scooters, everything) and the masses wage slave just rent it from them and barely survive then die as soon as they are no longer productive slaves.

>>28926141
>For example, if you know that stablecoin lending exists and you have the IQ to use it, your personal discount rate must be at least ~11% a year.
is these some catch to this? it seems too good to be true. i was thinking of buying a bunch of USDC and hodling it on Celcius Network at like 12% rate

>>28926446
I guess the main risk is that something happens to hurt the legitimacy of the coin. Think tether FUD.

>>28926494
True, which coins do you hodl? It seems like USDC is the more "legit" one since tether has FUD and Binance USD is chinese. Any thoughts on Celcius Network? Where do you hodl yours?

>>28926551
I trade usdt pairs because they have higher liquidity, but all the tether fid is kinda sketching me out.

>>28926676
fud*

I do not know much about celcius, but I

>>28926726
>I do not know much about celcius, but I
but you what anon..

>>28926551
I don't know about Celsius but I've seen it mentioned enough that i should look into it.

>>28926769
So what do you use to get the stablecoin interest?

>>28925765

Dude. My dad is retired and pulling 401k, social security, unemployment, and disability. And just cause he can, he filed to push his mortgage loans to the back of his payment just cause he can. I can pay my student loans just fine, but I'm not paying shit. Most people are letting the debt stack or hang and moving into crypto/tech stocks/saving for the crash. It's more widespread than you might think.

Yea just wait and save for another year

Oh what’s that house prices went up 50-100k again and you only saved $20k this year

Lol

>>28916061
You'll want a mortgage unironically. Inflation is going to hit the USD like a s ack of shit in the next few years.

>>28926446

>too good to be true
You understand banks literally do this right now, correct? And they don't even have blockchain technology to protect them.

>>28926446
>>28926494
Yeah if you invest tether and tether rugpulls you are rugpulled with it.

If only there was some way for some entity to exist that wasn't subject to outside interference like states or regulators or private corporate interests. Something decentralized and autonomous, but still organized.

If only there was a way to verify the existence of appropriate collateral, like by chaining together all the transactions and making some intelligent contract to cryptographically secure the funds.

Just never buy anything centralized EVER and you won't have to worry. This is basically, dare I say it, a new industrial revolution.

>>28926833
I don't currently, but I've considered lending on kucoin but I've put the money to better use swing trading. Considering putting some somewhere to get passive returns eventually tho/ need to do more research. Something decentralized is more appealing to me tho

>>28926833
Oh, I forgot, I do have some ASKO staking because I got caught up in the shilling last week.

>>28927011
>Something decentralized is more appealing to me tho
like what?

>>28927112
research yield farming and automated market makers. I'm a noob at this aspect, so someone will chime in with better info hopefully.

>>28927011
aave?

>>28927166
>yield farming
ok, will do. i don't even really understand lending vs staking so i have a lot to learn

>>28922232
They love showing their plans, especially when they know you can't do anything about it.
The movie Knives Out is basically how the future of the country will go:

Rich old white dad dies after having built up his own fortune (boomers with all the wealth die off)
All his kids are portrayed as spoiled, selfish, unlikable, and/or just evil (white people are demonized)
Immigrant nurse (who's mother is an illegal immigrant) who was caring for him gets all his wealth (mexicans will inherit the country)
One of the boomer kids asks if they could at least keep the house (a homeland) and the mexican says no and kicks them out (no home for white people, it's now a mexican country, and the white people are poor now)

>>28927449
Unironically the best thing I have read today. Keep up the good work anon.

>>28925168

larp

>>28925168
how is this possible unless your mortgage is like 20% of the house price.

>>28916061
Depends where you are based.

Australia, particularly QLD has seen surge in property due to handling of covid, property keeps surging because sellers are refusing to sell among other reasons.

My closest friend works selling property and told me not to buy because he believed a correction was due as our housing market is spastic.

Being an autistic cunt, i bought anyways. Few days ago we had beers and he mentioned hes was completely wrong and reckons ive made the best financial decision i could of in terms of buying when i did.