IMAGINE BUYING A HOUSE RIGHT NOW

>cost of living crisis
>mortgage rates increasing
>housing already at historically high levels

  1. 3 weeks ago
    Anonymous

    my brother just bought a house

    • 3 weeks ago
      Anonymous

      typical

    • 3 weeks ago
      Anonymous

      my good mate just bought one...

      they'll be fine long term just gotta refinance when interest rates are down

    • 3 weeks ago
      Anonymous

      A house just flew over my house!

  2. 3 weeks ago
    Anonymous

    my good mate just bought one...

  3. 3 weeks ago
    Anonymous

    [log in to view media]

    >going to the cinema with wife to see the premiere of Ratatouille
    >we just closed on our first house
    >the mortgage is a bit high, but the asset growth will make us rich in no time!
    >we just had to buy now, there were fewer and fewer good properties on the market.

    • 3 weeks ago
      Anonymous

      Chart qrd? A quick rundown? What the fuck am I looking at?

      • 3 weeks ago
        Anonymous

        This basically shows that commercial borrowers became very risky, the top of the dildo in that chart is lehman brothers going bust.

    • 3 weeks ago
      Anonymous

      If you still have the house, it's likely doubled in price since then. Real estate rarely drops in price and it's never permanent.

    • 3 weeks ago
      Anonymous

      >be me
      >think there is a new ratatouille movie out
      >2023
      >fuck

  4. 3 weeks ago
    Anonymous

    I have a property vacant right now cause I'm refinishing floors. do not like having a second mortgage to cover.

  5. 3 weeks ago
    Anonymous

    My retarded aunt and uncle with ~70k student debt between them just bought a house in the past year. They paid ~700k for a 4bd/3bth and had the gall to lecture me about buying a starter house right now. I said I didn’t want to be almost a million in debt because that seems retarded and they got super pissed off at me

    • 3 weeks ago
      Anonymous

      kek

      • 3 weeks ago
        Anonymous

        Worst part is they’re just middle school teachers

        • 3 weeks ago
          Anonymous

          >they’re just middle school teachers
          How do they afford a $700k house?

          • 3 weeks ago
            Anonymous

            We’re in Texas, it’s cheaply built, and they have absolutely no furniture in the house. Just a tv, a couch, and their beds basically. My cousin has a dresser.

            those who can’t do, teach, absolute pottery kek

            Absolutely. Uncle was a rent a cop before teaching and he got too fat to be a rent a cop.

            • 3 weeks ago
              Anonymous

              This doesn’t explain how they can afford 700k on a teacher’s salary

              • 3 weeks ago
                Anonymous

                They sold their better built smaller house before hand and own nothing

        • 3 weeks ago
          Anonymous

          [log in to view media]

          I hate the antichrist

        • 3 weeks ago
          Anonymous

          those who can’t do, teach, absolute pottery kek

    • 3 weeks ago
      Anonymous

      >My retarded aunt and uncle with ~70k student debt between them just bought a house in the past year. They paid ~700k for a 4bd/3bth and had the gall to lecture me about buying a starter house right now.
      that sure sounds like a top of market indicator,

  6. 3 weeks ago
    Anonymous

    Recently bought a house. 25% over asking, no contingencies, cash offer. Comfy as can be.

    • 3 weeks ago
      Anonymous

      [log in to view media]

      • 3 weeks ago
        Anonymous

        This dog breed is banned in Europe

        • 3 weeks ago
          Anonymous

          pitbulls and mutts should be exterminated

      • 3 weeks ago
        Anonymous

        How does this child know its in danger?

  7. 3 weeks ago
    Anonymous

    Imagine not paying someone else's mortgage and being able to drill holes in the wall

    • 3 weeks ago
      Anonymous

      0/10. most people can wait a year or two and their money will go further, even after factoring in rent.

    • 3 weeks ago
      Anonymous

      I rent and I drilled multiple holes in the wall last month. Landlord will never be able to tell them apart from all the holes that were already there.

      • 3 weeks ago
        Anonymous

        landlord probably did a very detailed video of the property before you moved in and will review it after you move out to be able to keep your deposit. never underestimate the greed of landlords.

  8. 3 weeks ago
    Anonymous

    They ONLY go up if you're in a desirable area. West Vancouver for example.

  9. 3 weeks ago
    Anonymous

    Imagine not locking up fixed rates at lowest rates in history and paying less than rent for years and years while your rent keeps climbing
    HAHahahhahahahahahaha

    • 3 weeks ago
      Anonymous

      >interest rates increase
      >people borrow less
      >less borrowed money flowing into real estate
      >prices plumet
      hey but at least you locked in that 3% even if the price is now 50% premium.

      • 3 weeks ago
        Anonymous

        if you don't have a house at all, the cheap home prices won't help you later when the home will cost you over 6% for 30 years.
        if you do have a house before it happens, you live in a house. no matter what your rate is, it's below market, and you live there, you aren't selling it while the alleged Greater Depression runs its course.
        hey, when was the last 30-year depression?
        huh.
        oh yeah.

        • 3 weeks ago
          Anonymous

          People say this, but you can just pay it off faster to make a lower effective interest rate

          • 3 weeks ago
            Anonymous

            If people can't afford a house right now and are thinking of waiting for a possibly cheaper housing market. What makes you think they can make up for the higher interest rate by paying it off faster?

            • 3 weeks ago
              Anonymous

              I think the point is wait a year or two for prices to drop. It really doesnt matter if you are paying higher interest rates if you can pay off early.
              Not for everyone but if you are in that position then your money might go further.

              • 3 weeks ago
                Anonymous

                You're literally gambling your life away on the chance for cheaper housing. That year or two could end up pricing you out even more. Even the top most economist with the highest expertise in housing couldn't tell you whether or not housing will be more or less expensive in a year or two.

              • 3 weeks ago
                Anonymous

                Then they are idiots. It's obvious housing will continue increasing in price forever.

              • 3 weeks ago
                Anonymous

                [log in to view media]

                I think the fed is done with printing for now. They're desperate to control inflation and have made it pretty clear that there are no sacred cows right now. If assets keep dumping, there isn't any significantly parachute.

                yep. They blew the housing bubble in the 2000s. Then they didnt want houses to crash so they did QE. Everyone thought there would be inflation in 2010 era but there wasn't. Now there is inflation, so they are reversing QE, and everybody thinks houses will crash, but they won't.

                As the dollar keeps inflating, overpriced assets become MORE overpriced. Take used cars for example. Everyone knows a used car objectively sucks. It is a ticking time bomb of liabilities, and when you buy one, you cant ever trust that the seller didn't absolutely fuck it up and pass it off on you. A house is the same way.

                Yes used car prices are going UP anon.

                Housing will not crash. Rather than let houses crash, everything else is inflating upwards so houses aren't relatively overpriced anymore. They rugpulled everything else via inflation to bring houses back to fair value. Like a boomer jacking up his AC instead of taking off his sweater, they'll they move heaven and earth avoid having to leave their McMansion.

              • 3 weeks ago
                Anonymous

                I firmly believe a lot of folk havent the faintest idea of how big the bubble really is. Prices will easily drop below 2008 levels with everything on the horizon.
                https://mymortgageinsider.com/1-percent-rate-increase-11-percent-price-reduction/

                [log in to view media]

                Over a decade of emergency interest rates and insane levels of QE put house prices to where they are at now, that was the Autumn phase, we are now entering a K-Winter and god help anybody who has debtmaxxed!
                15 year old call about to come in right on cue https://www.housepricecrash.co.uk/forum/index.php?/topic/53593-credit-bubble-bursts-first-snows-of-k-winter/

                Winter is here https://business.inquirer.net/320459/keep-calm-winter-has-arrived

                god love you, but please understand that they are going to print money, suppress bond yields, keep rates low because the actual fucking government has zero fucking plan to stop spending, and Paul Volcker is fucking super dead.
                You are right, insane moral hazards, unfair advantages and bailouts to those that walked blindly into massive debt... but it is literally national security you are talking about eroding, and they are going to print money to keep Corporal Zeroassets and Captain Justboughtahouse at their posts in the nuclear submarine until this monster literally becomes all they talk about on the radio/tv/internet 24/7.
                Milton Friedman was right. They escaped the inflation because the debt was low, they had done themselves at least that favour. Today it is retarded and the economy itself is incapable of production.

              • 3 weeks ago
                Anonymous

                They will be lynched if the print us into hyperinflation while flatly refusing to do their job of combating inflation via raising rates. The public who will see all their wealth destroyed are not going to let that slide. Rates are going to rise considerably.

              • 3 weeks ago
                Anonymous

                You give the American people too much credit. We watched them steal the election right in front of us and we did nothing. All the guns in the world and we stood by and did nothing. Fuck this gay country

              • 3 weeks ago
                Anonymous

                The public already fucked, yet I still don’t see them doing anything. Unless some idol die for justice George Floyd

                So pressures building, i expect once a lot of people start going hungry they will react accordingly.....or they will raise rates considerably to bring down inflation.

                Thats the fucking point. We're heading to a full on political fucking destabilization. People are about to watch assholes walk into mortgages and basically get a house for free.
                Jesus fucking crhist guys they're going to spend over 300 billion erasing university tuition debt.
                If you want to sit out whatever is coming you need to first understand that this level of bullshit is almost never tolerated.
                If they can feed people they avoid Robespierre, but at minimum the populism is gunna hit fucking stratospheric levels.
                We don't just get to live phenomenally awesome lives forever while basically doing nothing for each other... we racked up debt, which we're not going to pay. People are gunna be fucking super pissed man.

                Nobody is getting a free house, anybody who has debtmaxxed on property with a view to inflation dealing with the debt have fucked up big time as inflation doesnt erode debt, wage inflation does and there wont be much of that once rates are way higher and unemployment is booming. Investing in property going into hyperinflation would be a very retarded move.

                >They will be lynched if the print us into hyperinflation

                All organization by plebs can be defeated by just using the word "glowie".

                >The public who will see all their wealth destroyed are not going to let that slide.

                Yes they will. They've already let worse things slide and a lot of homosexuals pride themselves on not being entitled to anything.

                The homosexuals are a minority, the majority of people are going to snap when they are financially destroyed/starving and the powers that be know this and this is why they are going to raise rates considerably and follow through with QT.

              • 3 weeks ago
                Anonymous

                In the Weimar republic, people wanted to LEAVE
                In Venezuela, people wanted to go to brazil and colombia
                Turkey was a destination for refugees and now its people are doing everything they can to LEAVE.

                Those homes are worthless... you want beachfront villa in Venezuela? Turkey?

                Gold and silver are how you walk your ass out of a shithole, into neighboring switzerland or austria, and aren't starting from scratch as a worthless lowlife immigrant.
                Gold and silver are going to go back to being money, and probably actually hit their human history all time highs in value actually. That being said North America can feed you. Canada and the USA have everything they need to feed 400-500 million people. I'm not sure there is an alternative to north america, although Russia and Ukraine are/were both farming powerhouses, we'll see what kind of welcome mat they leave for capital fleeing north america.

                This might be part of the arrogance that got us here in the first place, but North america is a fucking unreal part of the world.. It crashed the worldwide price of gold and silver when it was first discovered because europe believed it was like this 'new world' where god deposited a bunch of wealth so that holy ones could start over or whatever.

              • 3 weeks ago
                Anonymous

                I heard in Venezuela the mortgage didn’t just inflate away but actually got adjusted

              • 3 weeks ago
                Anonymous

                Expropriation. Houses are valuable, why not give them to your friends?
                Also they may have adjusted in Bolivars lol but if you had a brain you had some hard assets.. Moral of the story is debt is debt, dont play with fire!

              • 3 weeks ago
                Anonymous

                Yep, property became worthless during weimar
                “In 1922 and 1923, because of the rapid depreciation of the mark, the old house-rents became ridiculous. Consequently the value of houses fell considerably. Many landlords, for whom houses were now valueless because the rents did not cover maintenance expenses, were forced to sell them.”

                Flippers will also get fucked as by the time they close on their agreed price and get the money into their account it would be worth a whole lot less. Property isnt very liquid after all.

              • 3 weeks ago
                Anonymous

                Live in the house, like, in the old days i guess!
                houses are where you live and where your guns live and where your money lives and that's your castle, and you should know your neighbors, and you should be friendly with everyone and have a barbecue and know all the military age males in your area so that you can all be on the same page about leaving each other alone but also about forming coalitions or whatever.

              • 3 weeks ago
                Anonymous

                Yes you can always live in it as long as you keep up the mortgage repayments.

              • 3 weeks ago
                Anonymous

                Buy it cash, you can borrow against it later if you have to. If you can't buy it cash, don't buy a house buy gold and silver and wait so you can buy one outright later.
                There isn't really a good way to become rich overnight lol and houses and gold are kinda things rich people can buy so in lieu of a whole house at least buy money incrementally

              • 3 weeks ago
                Anonymous

                The elections isnt comparable you fucking n-word. Its a nice talking point thats it. We are literally talking peoples money, you are delusional if you think people will take that laying down.

              • 3 weeks ago
                Anonymous

                Trump lost you delusional cuck. These sideshow are how they cattle are kept under control

              • 3 weeks ago
                Anonymous

                The public already fucked, yet I still don’t see them doing anything. Unless some idol die for justice George Floyd

              • 3 weeks ago
                Anonymous

                Thats the fucking point. We're heading to a full on political fucking destabilization. People are about to watch assholes walk into mortgages and basically get a house for free.
                Jesus fucking crhist guys they're going to spend over 300 billion erasing university tuition debt.
                If you want to sit out whatever is coming you need to first understand that this level of bullshit is almost never tolerated.
                If they can feed people they avoid Robespierre, but at minimum the populism is gunna hit fucking stratospheric levels.
                We don't just get to live phenomenally awesome lives forever while basically doing nothing for each other... we racked up debt, which we're not going to pay. People are gunna be fucking super pissed man.

              • 3 weeks ago
                Anonymous

                >They will be lynched if the print us into hyperinflation

                All organization by plebs can be defeated by just using the word "glowie".

                >The public who will see all their wealth destroyed are not going to let that slide.

                Yes they will. They've already let worse things slide and a lot of homosexuals pride themselves on not being entitled to anything.

              • 3 weeks ago
                Anonymous

                They aren't afraid of the people.
                It is super clear that they are about as unafraid of the people as you can get. Even if you think i'm a complete asshole or larping or whatever just go check out cbo.gov and look at what they are TELLING YOU about government spending.

                Remember the days of the tea party back in Obama era politics? What happened to those guys, huh? Obama took the debt from 66%/GDP to 101% GDP before they seized the house and senate, but look at the damage.
                Trump took it from 101 to 108%, and then "Covid" took us from 108 to 144%.

                That was fucking 15 years man!!!

              • 3 weeks ago
                Anonymous

                Used cars are now falling in price. https://www.cnbc.com/2022/05/06/used-car-prices-are-down-from-record-highs-easing-the-impact-of-inflation.html

                Watches falling in price https://www.dmarge.com/ap-patek-price

                Housing market is clearly turning and once it does prices will fall. Wages arent inflating upwards for the majority

              • 3 weeks ago
                Anonymous

                Housing is on the way down as we speak. In my market place, inventory is up over 40%, and model matches are in escrow right now for 5-12% less than they closed for in April.

                >San Diego

              • 3 weeks ago
                Anonymous

                Huge chunks coming off asking prices over here, even on the doorstep of Buckingham palace. https://www.housepricecrash.co.uk/forum/index.php?/topic/233300-examples-of-big-multiple-drops/page/202/

              • 3 weeks ago
                Anonymous

                that was LAST month's news, pleb

                This morning
                https://www.foxbusiness.com/lifestyle/used-car-prices-going-up

              • 3 weeks ago
                Anonymous

                >Housing will not crash
                Housing is crashing right now. Not even two more weeks, right now. Housing price discovery just moves at a glacial pace. But even so, I've seen a very noticeable uptick in price decreases. Homes which can't get a standard loan are languishing for 30, 60, 90 days when just a few months ago investors would fight over them. It's over. Shit is going to crap decline slowly for the next few years.

      • 3 weeks ago
        Anonymous

        >3%
        Lmao you guys have shit loans.
        Oh no house price plummets what will i do paying way less than current rent for the next 15 years while my excess cash can be invested. You know the meme 1btc is 1 btc. My house is still my house. I hope for you that price plummets, it wont change anything for me so i wish you the best. In fact if it plummets i will buy another house

        • 3 weeks ago
          Anonymous

          unless you buy a newer house, if you buy an old house just as an investment that shit can rek you financially. Foundation issues, wear and tear, shitty renters…

          • 3 weeks ago
            Anonymous

            Sorry i live in the EU where home standards are too high so that shit doesnt happen unless youre a degen real estate gambler and buy homes for 30% price

      • 3 weeks ago
        Anonymous

        >house prices dump
        >money saved with low interest rate is insignificant compare to your negative equity

        rentoids are truly insane

        >muh negative equity
        >muh plummeting house prices
        >muh kek you locked in a low interest rate and for what?
        >muh I'll wait on the sidelines to buy my cheapies houses

        You idiots are going to be priced out forever. There are bidding wars over RENT at this point. Your rent will keep increasing will inflation makes your overall cost of living higher. This eats away at your savings and there goes your little down payment you thought you would use towards a magical -50% housing crash. What new buyer cares about the price of their house if they aren't interested in selling it? Not everyone thinks of their house as an investment, some people want to live in a house while paying less than they would paying rent with the bonus of actually owning the property at some point.

        >you never actually own the property, property taxes!! hahaha

        Imagine not buying at sub 3% interest.

    • 3 weeks ago
      Anonymous

      >house prices dump
      >money saved with low interest rate is insignificant compare to your negative equity

      • 3 weeks ago
        Anonymous

        Noooo i cant have less money on paper if shtf scenario happens....
        >House price plummets 30% only eating the last 50% gain
        >Price goes back up after a couple of years
        >Priced out "buy the real estate dip" fags forever

        • 3 weeks ago
          Anonymous

          Brah at this rate I don’t know if we are going to recover, us is rugging everyone and on the verge of a collapse. Fucking scary out there

          • 3 weeks ago
            Anonymous

            Weve recovered for more than a century, it will happen again. As much as the US is shit, other places are shittier. I dont bet on black swans, and every recessions you hear this "its over this time"

            • 3 weeks ago
              Anonymous

              I get that, but for some reason thing is really looking bad and it’s not because of some doomers on here, just what I see outside. 2008 wasn’t even this bad, and it’s seem the feds doesn’t have much wiggle room, a small percentage rate increase and everything crash except for living cost or reduce rate and we go hyperinflation

              • 3 weeks ago
                Anonymous

                central banks have been and are still of the mind that the mandate = lower inflation regardless of if it triggers a recession. there hasnt been true deleveraging since 2008 and that's a big problem. household debt is at record levels, savings have plummeted to 10 year lows, asset prices have inflated in every market to bubble levels. tech has came down some but has a long way to go. real estate is starting to feel the pressure but just wait until we hit the neutral rate and inflation is still too high. that's when the real blood bath begins. 2023 will be a nasty recession.

              • 3 weeks ago
                Anonymous

                2008 they saved it with money printing, I’m concern whether the same trick will work this time. Felt like the canned can not be kicked anymore without people suffering

              • 3 weeks ago
                Anonymous

                no. it's a perfect storm. more qe = more inflation. as they raise rates they also need to push qt to avoid taking massive losses on their low interest rate paper. rates will go up to neutral no matter what and depending on inflation they may go higher. in a perfect world we will hit neutral, inflation will settle down to 3-4% and we can ride it out and hope the supply side catches up and fills the rest of the inflationary gap. at that point if a recession does hit the fed will at least have rates high enough to use them as a lever to stimulate economic activity.

              • 3 weeks ago
                Anonymous

                People will beg for QE and then beg for a reset of the dollar and loan values. Real assets will prevail

              • 3 weeks ago
                Anonymous

                I think the fed is done with printing for now. They're desperate to control inflation and have made it pretty clear that there are no sacred cows right now. If assets keep dumping, there isn't any significantly parachute.

              • 3 weeks ago
                Anonymous

                Its the great reset.. thats why i would lock any real world asset. Rich people are also overleveraged, and yet are cashing out of stocks and derivatives and buying real assets and commodities.
                You need some real stuff for after the storm

        • 3 weeks ago
          Anonymous

          >eating the last 50% gain
          Oh you are retarded, read the thread title before posting
          >buying a house RIGHT NOW

          • 3 weeks ago
            Anonymous

            Yes, ive read it. Whats your point? If we go down 30% now thats roughly last 50% gain. It can continue to climb another 100% or whatever so it will cover another even higher drop.
            Wake me up when a real drop happens, wait until normies are affraid even more to lose their fiat so they buy even more real estate

    • 3 weeks ago
      Anonymous

      Anyone who is not locking rates are plotting to squat. Therefore, they actually are smarter than you doofus

    • 3 weeks ago
      Anonymous

      >what are property taxes

    • 3 weeks ago
      Anonymous

      I firmly believe a lot of folk havent the faintest idea of how big the bubble really is. Prices will easily drop below 2008 levels with everything on the horizon.
      https://mymortgageinsider.com/1-percent-rate-increase-11-percent-price-reduction/

      • 3 weeks ago
        Anonymous

        [log in to view media]

        Over a decade of emergency interest rates and insane levels of QE put house prices to where they are at now, that was the Autumn phase, we are now entering a K-Winter and god help anybody who has debtmaxxed!
        15 year old call about to come in right on cue https://www.housepricecrash.co.uk/forum/index.php?/topic/53593-credit-bubble-bursts-first-snows-of-k-winter/

        Winter is here https://business.inquirer.net/320459/keep-calm-winter-has-arrived

        kek these guys and the Motley Fool mob have been saying house prices are going to crash any day now for the past 10 years. It is not going to happen. This isn't 2008. We live in a new version of Capitalism. Thanks to investment firms like Blackrock the housing market is not going to crash. There will always be buyers.

        • 3 weeks ago
          Anonymous

          [log in to view media]

          >kek these guys and the Motley Fool mob have been saying house prices are going to crash any day now for the past 10 years. It is not going to happen. This isn't 2008. We live in a new version of Capitalism. Thanks to investment firms like Blackrock the housing market is not going to crash. There will always be buyers.

          Blackrock is pretty sketchy, way too big to fail

          • 3 weeks ago
            Anonymous

            Blackrock can also just dump the houses if they dont see them as a safe investment anymore.

            • 3 weeks ago
              Anonymous

              blackrock inherited a stack of ledgers in 2008 and was basically ordained to become the largest financial player after the hunger games was over.
              They are pretty fucking aware of where we are heading in terms of dollar denominated debt, financial assets in USD etc...

  10. 3 weeks ago
    Anonymous

    You can always refinance if rates go down again. You can't refinance your rent.

    • 3 weeks ago
      Anonymous

      [...]
      they'll be fine long term just gotta refinance when interest rates are down

      rates are never going down again

      >interest rates increase
      >people borrow less
      >less borrowed money flowing into real estate
      >prices plumet
      hey but at least you locked in that 3% even if the price is now 50% premium.

      prices are never going down again

  11. 3 weeks ago
    Anonymous

    I’m about to sell my second house, wish me luck bros

    • 3 weeks ago
      Anonymous

      Good luck bro

    • 3 weeks ago
      Anonymous

      Rape the buyers for everything they have.
      *Place an inspection clause that only allows canceling of contract. No negotiations.
      *Place a clause in the contract that guarantees a certain amount of cash over appraisal value if the bank finds the home value under asking price.
      *Do everything you can to get a bidding war started and have your realtor ready to bounce around making sure all offers are know to other offers so they can one up each other.
      Don't give those fucks an inch.

  12. 3 weeks ago
    Anonymous

    don't see the problem, owning a real asset is a lot smarter than "owning" fake internet claims to future dollar-denominated credit in a global transaction ledger.

  13. 3 weeks ago
    Anonymous

    But I bought in 2019 and my rate was 3.2%

  14. 3 weeks ago
    Anonymous

    [log in to view media]

    reminder that the housing market is being manipulated by brokers en masse on sites like zillow, this is going to be coming to light very soon

    • 3 weeks ago
      Anonymous

      [log in to view media]

      this is happening in every single market around the world, willful manipulation of the zillow algorithm to inflate housing prices

    • 3 weeks ago
      Anonymous

      [log in to view media]

      this is happening in every single market around the world, willful manipulation of the zillow algorithm to inflate housing prices

      To what end? What's the endgame here?

  15. 3 weeks ago
    Anonymous

    [log in to view media]

    I bought a house right before covid for 250k with only 10k down. It is worth about 400k now(375k as a conservative estimate).

    Probably going to sell and buy a 1 bedroom condo outright. LULZ is mad I made more money than 90% of them with a meme house investment. Stay mad rentcucks

    • 3 weeks ago
      Anonymous

      LULZ bro, pls tell how a zoom zoom like me would be able to afford a house? I have no loans other than student loans.,

      • 3 weeks ago
        Anonymous

        [log in to view media]

        Have s credit score above 700 and a years worth of paystubs in a job making over 65k a year. Call any mortgage company and a loan officer will basically bend over backwards to sell you a mortgage. Took me about a week.

        • 3 weeks ago
          Anonymous

          Do they scrutinize the source of your down payment money?

          • 3 weeks ago
            Anonymous

            theyll want account statements where the money is held and they will ask about any large transfers, yes. I transferred $6.5k from another bank account and they wanted account statements from that other bank account and a reason for the transaction.

            • 3 weeks ago
              Anonymous

              So for me, I’m working on accumulating a DP right now and I just sold about 20k in stock and transferred it to my bank acct. They will let me use this for DP surely right? As long as I can show it came from my own other acct? Is there some sort of holding period that I need to wait for it to be cleared for use?

              • 3 weeks ago
                Anonymous

                You should be fine. The only possible flag is that you haven't really paid taxes on that capital gain presumably.

              • 3 weeks ago
                Anonymous

                Haha good thing they’re long term losses! Kek.

          • 3 weeks ago
            Anonymous

            I put $70k down straight out of my savings account. No scrutiny; I suppose it was assumed I just saved it over time, which is true.

        • 3 weeks ago
          Anonymous

          How do I save enough money to buy a house if im trapped in a apartment

          • 3 weeks ago
            Anonymous

            Now you're thinking like a homeowner and not a rentoid doomer. This is the problem with "waiting for a crash" and it'll only get worse with time. My suggestion would be to move back with your parents if it's an option and even if they charge you rent it'll surely be cheaper than your apartment, or rent an apartment with roommates to lessen the load; or get a gf/bf and split rent. You have to sacrifice comfort for future profit if you're in a situation where you're priced out or it'll only get worse over time.

    • 3 weeks ago
      Anonymous

      Keep waiting for prices to go down while the dollar is inflating.

  16. 3 weeks ago
    Anonymous

    Want to buy next winter, can the market finally come down a little for fucks sakes. Don't want to pay 325k for a house that was worth 200k in 2019, especially with a 5% rate for a 5 years fixed when it was 2.5% 6 months ago(We don't have those long fixed mortgages in Canada, have to renegotiate every 5 years at most, longer has shit interest rates, like RBC has a 25 years fixed but at 10% interesr lmao)

  17. 3 weeks ago
    Anonymous

    I own a home but I pray every day to bobo that housing crashes

  18. 3 weeks ago
    Anonymous

    depends on the situation. those who already had homes/equity and simply moved up or sideways will feel some pain. the ones who are really fucked are those who bought their first house and got locked into variable rate mortgages. not only does each rate increase bump their 30 yr mortgage another 1 yr of interest payments but due to inflation the stress test (they likely didnt actually put themselves through since only smart people do that) would have them already underwater at this point. add in another 2% or even 1% increase and the vast majority of those homeowners will be underwater. we're going to see destruction of wealth similar, but not as severe, to the 2008 crash.

    • 3 weeks ago
      Anonymous

      I don't know who in their right mind who bought a house in the last few years would have gone with a variable rate mortgage when rates were historically low. I'm pretty sure no buyers agent would've allowed them to do so.

      • 3 weeks ago
        Anonymous

        bought in 2021, broker tried to sell me an ARM i was like no

  19. 3 weeks ago
    Anonymous

    As long as the Canadian government imports 6 gorrillian immigrants yearly the housing market will literally always have increasing demand.

    I'm already priced out so the argument is purely academic. But I would have no problem buying right now.

    • 3 weeks ago
      Anonymous

      >immigrants
      They are better Canadians than you will ever be.

  20. 3 weeks ago
    Anonymous

    > rent is 1100 per month
    > mortgage would be 3500 per month
    What am I missing?

    • 3 weeks ago
      Anonymous

      Must be a very expensive house

      • 3 weeks ago
        Anonymous

        You're missing that the $1100 rent is for a studio apartment and the $3500 a month mortgage is for a 4/2 with a pool and yard. (using MIami as an example)

        I live in a two bedroom townhouse, have a garage and backyard and a driveway I can fit two cars in. Pretty comfy. A mortgage for a home is at least 3500 for a basic home. I live in Canada by the way. A house purchase would break me. I don't get it

    • 3 weeks ago
      Anonymous

      >rent is
      what will rent be on your next lease? $2000 probably
      >comparing 1BR apartment to big ass house

    • 3 weeks ago
      Anonymous

      You're missing that the $1100 rent is for a studio apartment and the $3500 a month mortgage is for a 4/2 with a pool and yard. (using MIami as an example)

  21. 3 weeks ago
    Anonymous

    So glad I got my 3 bed 1400sqft house for 150k. Its now worth 350k

    Suck it renters

    • 3 weeks ago
      Anonymous

      >my house is worth 350k in monopoly money

      Who cares?

    • 3 weeks ago
      Anonymous

      If you had bought LINK with that money like I did you would now have 3.2 million dollars (if you got in at the same price as me anyway)

  22. 3 weeks ago
    Anonymous

    MFW I bought when everyone was telling me not to and locked in 2.75 interest rate on a conventional 260k mortgage with 20% down (320k purchase price 4bed 2ba) and my house is already up 60k.

    • 3 weeks ago
      Anonymous

      [log in to view media]

      You WILL eat the beans

      • 3 weeks ago
        Anonymous

        This retard gives some of the worst financial advice you could possibly give.

        • 3 weeks ago
          Anonymous

          His advice is meant for least intelligent people who can barely keep afloat in debt.

      • 3 weeks ago
        Anonymous

        *inhales*
        BOOOOOOOOOOMER YEAAAAAAAHH
        BOOMER USA

  23. 3 weeks ago
    Anonymous

    >last few years
    >distracted by gf
    >realtor tells me not to buy
    >gf dumps me recently
    >missed the boat

    hate myself.

    • 3 weeks ago
      Anonymous

      There will always be another train

  24. 3 weeks ago
    Anonymous

    No I’m not going to buy a house now, I’ll just live on the street for the next 5 years for things to “get better” (kek) and calm down.
    You buy house when you need it homosexual it will appreciate anyway in couple of decades

    • 3 weeks ago
      Anonymous

      I bought this year for similar reasons, I was tired of renting, savings reached a certain level and finally found a place that fit my needs. It's a shitload of money but so was rent.

  25. 3 weeks ago
    Anonymous

    This is the top right?

  26. 3 weeks ago
    Anonymous

    Line gose up.

    • 3 weeks ago
      Anonymous

      pls no

  27. 3 weeks ago
    Anonymous

    >people unironically believe property is going to crash at any point in the near to distant future

    If this was still neo liberal Capitalism then all logic would point towards a crash but it isn't and there won't be. Investors are going to hoover up property at above market value no matter what.

    • 3 weeks ago
      Anonymous

      I could see a slump but yeah, it will never dump. Not until we're all dirt poor. Look at Canada/Australia as our future. The state knows housing is one of the bedrocks of the smoke and mirrors economy, they'll turn your currency into shitpaper to make sure it stays up.

  28. 3 weeks ago
    Anonymous

    I have a relative who is building a house and about to lay the foundation. They sold previous house but the money is gone. Not sure how much of it they put into the new construction. How fucked are they if the market tanks?

    • 3 weeks ago
      Anonymous

      Buying a house is different to building one. I think building is much worst because of the price of materials, gas and transportation. Once the house is built u will have to compete with the market price, I would take a guess it will be sold at a loss

  29. 3 weeks ago
    Anonymous

    I bought one last year. 3/3, 296k @ 2.375 APR. Monthly mortgage payment w/ taxes/insurance is ~1600.

  30. 3 weeks ago
    Anonymous

    imagine buying a house through crypto in the near future
    i mean some decentralized ecosystems are evolving with l1 tech. Take Cherry Network for example; their scalability allows high speed and secure transactions

  31. 3 weeks ago
    Anonymous

    [log in to view media]

    Over a decade of emergency interest rates and insane levels of QE put house prices to where they are at now, that was the Autumn phase, we are now entering a K-Winter and god help anybody who has debtmaxxed!
    15 year old call about to come in right on cue https://www.housepricecrash.co.uk/forum/index.php?/topic/53593-credit-bubble-bursts-first-snows-of-k-winter/

    Winter is here https://business.inquirer.net/320459/keep-calm-winter-has-arrived

  32. 3 weeks ago
    Anonymous

    Im 25 and bought a house 1yr ago
    2.5% 15yr
    Rent it out while living like a king next door at my parents
    Stay poor

    • 3 weeks ago
      Anonymous

      >Im 25 and bought a house 1yr ago
      >2.5% 15yr
      >Rent it out while living like a king next door at my parents
      >Stay poor

      good job, tried to get my son to do that last year but no luck

      • 3 weeks ago
        Anonymous

        The real value of the rent is going down, which I suppose you don't care about so long as the interest payment does not go up... But eventually, houses are going to go back to being depreciating assets, it's just that with the credit system right now it's basically free assets for anyone that can swing it. I know the rate went up recently, but as soon as they see the cracks showing in the system they will push the yields down.

  33. 3 weeks ago
    Anonymous

    [log in to view media]

    its always something, in case you hadnt noticed

    • 3 weeks ago
      Anonymous

      Hourses for courses.

  34. 3 weeks ago
    Anonymous

    >cost of living crisis
    What crisis? Stop buying shit you don't need and cannot afford anyway. Stop being poor.

  35. 3 weeks ago
    Anonymous

    WHOA A HOUSE JUST FLEW OVER MY HOUSE

  36. 3 weeks ago
    Anonymous

    [log in to view media]

    I bought one last fall, 420k @ a 2.8% rate. It’s appreciated 60k since then

  37. 3 weeks ago
    Anonymous

    >median price of single senpai home in my state
    690k
    >median price of condo in my state
    460k
    >my salary
    47k

    Yeah this is gonna be tough ..

    • 3 weeks ago
      Anonymous

      where the hell do you live? 47k is like the median family income in shitty flyovers, can't you just move?

  38. 3 weeks ago
    Anonymous

    [log in to view media]

    IMAGINE WAITING UNTIL NEXT YEAR WHEN ITS GOING TO RISE 25% AGAIN

    AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

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