>mom's home has been on the market for 4 hours
>4 fucking hours that's it
>6 offers, all over asking
>3 bed 2 bath townhome that hasn't been updated since like 2004
>in a nice suburb of a major city in florida
>she can't even GET flood insurance, much less a good rate
>interest rates are well over 7%
>home is listed for 650k
>even with a 20% down payment that'll require a ~$4800/mo payment
WHO THE FUCK IS BUYING THIS RIGHT NOW?
>Frog poster memes and shitposts
Gtfo larper
What reason would I have to lie about this.
>Mum
seems sus? only bongs and cunts call their mothers "mums" right?
(cunts as in australians)
>American
>Mum
Nice larp retard, ya blew it
>Florida
>Saying “Mum”
Choose one
Nice larp Nigel, Almost had me
>Mum
Didn't Andrew Jackson toss you lot out of Florida?
YOU BLEW IT
fucking suburban rats glad i live in the sticks
A boomer with too much money that will pay cash for it, renovate it, and probably die in it, so they don't care about resale value.
we should just send boomers to gas pods they’ve had it too good too long
They are definitely going to get abused in elder homes with all the awareness of how they fucked up everybody’s life
I always find it funny when people pay exhorbitant amounts in cash, with T-bills at 5% (taxfree)
That 650k puts you at 2.7k in monthly coupons from T-bills, enough to pay rent while waiting for a drop.
my guess is airbnb. very popular in Florida, and as long as you bring in more than the mortgage costs you're building that equity.
that's at least the boomer logic. realisitically this is big big big 2006, maybe even 2007, energy. very bearish.
>my guess is airbnb. very popular in Florida
I'd understand this in another scenario, but the local HOA limits rentals to a minimum of a 1-year lease. Now granted that isn't taking into account doing it illegally, but I doubt that's what's going on.
Just because you’re a houseless NEET doesn’t mean the rest of us are. That seems pretty reasonable to me considering the location. Housing demand is stronger than ever, the economy is plugging a long, and most people have growing salaries and lots of cash stockpiled. If rates go down even a teeny bit housing will pump and you’ll be wanting to kill yourself for not holding out and selling for $1.25M in a year.
>Housing demand is stronger than ever, the economy is plugging a long, and most people have growing salaries and lots of cash stockpiled.
I know you don't want to hear this, but this is the new normal. You have to accept that.
except the rates are
never
going
to
go
down
>Housing demand is stronger than ever, the economy is plugging a long, and most people have growing salaries and lots of cash stockpiled
here we have the classic home baggie feeling regret for fomo buying a 30 year bag
Rent is due in 3 weeks, wagie!
This all happened in your head
This makes me sad it’s been my dream to live in Florida and now I can’t since everything got expensive right when I started having some money
Don't let your mum sell her house to Blackrock.
56043110
(You)
56043284
(You)
>th-th-the economy is fine guys, see...
>posts a flimsy larp full of holes
kek the state of shills and bots these days
The housing market's back and better than ever!
56043712
(You)
rentoids sisters, we lost
mum lmfffffao
half the market is cash buyers in coastal FL, and even if they have cash, 7% mortgage isnt terrible for them
florida is a state full of boomer transplants who sell their properties up north and move down there to retire
boomers can dump their cash into treasury bills/CDs/high interest accounts at 5.5%, take out a mortgage at 7%
on a 520k mortgage, you pay 3k/mo in interest the first year, or 36k/year
standard deduction is 13k, meaning a net 23k interest deduction on their taxes, getting back ~24% of the 23k ($5,520)
total cost of mortgage for year one is ~30k, of 5.77%
they dump their 520k into treasury bills, CDs, high interest accounts at 5.5%, earn 28k/year before taxes (~21k/year after taxes)
net cost after year 1 = 9k on a 520k mortgage, or 1.7%
mortgages always cost ~2% for people with cash, regardless of the rate, because rates rise/fall with treasury yields, and cash buyers can just dump their cash into securities instead
and this is assuming there aren't more deductions - they're likely getting back more than 5520 on their interest deduction
if rates fall, they refinance and gain equity
if rates rise, their investments in securities pay more than the interest they pay towards their mortgage
it's win-win
>it's win-win
for the boomers, not for first-time homebuyers
>first-time homebuyers
There will be no "first time" for you. You are a rentoid.
The landed gentry always wins.
Black Rock
>88 milly dollar dubai Airport style house
>developers
>yilmazor
>chen
No idea....
Also note chen is jackin' juice but does a little nervous drum roll at the start
>asain_punch_own_face.mov
blackcock is buying 90% of homes right now
lol Florida is still booming when it comes to real estate, my parents just got a cold call offering the $1 million for the house the bought for 400k in 2014.
They aren't interested though, it's on the water and their retirement home.