Home Buying / Housing Market Griefing Thread - You're going to rent until you die.

[BeardedWall]

I got out of the military and my dad sperged the fuck out about how I need a brand new house ASAP so I can pay the mortgage down before 55 and I believed him lol

So you did the same shit I quoted earlier?

Got a vet loan mortgage so you put nothing down?

And now you are fucked because you havent even put a DENT in your principal and you cant sell in an emergency because you are stuck at your buying price.

I dont know your Dad or you so its possible you are both not retards. But my counter to your dad saying that is this:

If you make one extra payment a year on a 6% mortgage, it will reduce your 30 year to roughly 25years. If you can pay 1.5x your mortgage a month you will pay it off in roughly 15 years..

So WHEN you buy it is asinine. It' how you pay it.

Edit

Also never buy a brand new house if you are moving in a short time. Why would anyone want to pay you what you paid for 2 year old used house when they could buy a new one with warranties and rebates for the same price?

 

[SOLDIER OF WALES]

So you did the same shit I quoted earlier?

Got a vet loan mortgage so you put nothing down?

Yes...

Atleast I've learned alot of life lessons this past year... I'll be fine though. I don't need to leave until 2 years from now. Just a very bad decision, but I won't make the same mistake again.

I was very insistent on renting like a 1 or 2 bed, then he started browbeating me and then got pissed when i wanted to buy a cheap house. I don't know what his deal is and every time I'm like "im gonna sell this cocksucker soon as i can" he Cyraxxes me and goes "Its a good house man you'll meet a beautiful woman and raise a family in there " But this isn't the family therapy thread so whatever lols

 

[BeardedWall]

Yes...

Atleast I've learned alot of life lessons this past year... I'll be fine though. I don't need to leave until 2 years from now. Just a very bad decision, but I won't make the same mistake again.

I was very insistent on renting like a 1 or 2 bed, then he started browbeating me and then got pissed when i wanted to buy a cheap house. I don't know what his deal is and every time I'm like "im gonna sell this cocksucker soon as i can" he Cyraxxes me and goes "Its a good house man you'll meet a beautiful woman and raise a family in there " But this isn't the family therapy thread so whatever lols

I am going to write this like you are retarded in case you dont know this stuff. So if you arent apologies. I am only slightly less retarded about housing but I know math.

The first few years roughly 85% of your mortgage pay goes straight to interest only. Only 15% is toward your actual debt.

So if you bought a 300,000 house you have only paid about 7,500 bucks toward the principal. In two more years that will be 8500 for a total of 15k.

Assuming you had to cover shit like closing, realtor fees, Ill bet you paid 308k on your 300k house.. which means in two years you can only afford to move from 300k to 293k before you end up with a loss. This is why 0% is retarded and leaves you totally fucked.

You should try to pay an additional payment a year. Break it up by month. So for example. Instead of your 2300 payment. Add 10%. And pay 2530. You can find 230 bucks laying around.

If you do so not only will it shave years off.. but when you go to sell you'll have 21k in equity so you have more room to breathe. Once you get to 60k equity, you'll be able to drop the mortgage insurance fees.

 

[SmugAutist]

For those wondering about housing prices....

Interesting little chart I'm going to drop.
Ver archivo adjunto 9098221

It's rather remarkable that the majority of the US population has been funneled into urban areas while mass importing foreigners. It doesn't matter if the US is big if everyone is being stuffed into a small handful of places.

David Ricardo is still relevant two centuries later.

Fuck, I hope my house drops in price. It's literally only beneficial for your house to shoot up in price after you buy if you intend to sell or if you intend to leverage your equity to take on more debt. If you don't intend to do either, all your home value going up does is drive up your property taxes.

Except that dropping house prices usually means that either the economy is fucked or there's an influx of jeets and niggers in your neighborhood. It's the price you pay to insulate yourself from diversity. See also, California.

Not sure. Without getting too mucked up in the details though, you can look at urban vs. town vs. rural school attendance to confirm the mass redistribution of the population away from rural areas. Something weird happened in the mid 2000's, and I'm betting its mass importation of beaners or they redefined rural.

The urban drift is something that has been going on since the 70s after the economy tilted towards the service sector. This is something that happened in Europe and Japan 20 years prior. America managed to delay it somewhat due to us still having an industrial sector along with a large agricultural and resource gathering sector, the latter of which neither Europe nor Japan has in large quantities. Economic hubs have been centralizing in a handful of cities, with new manufacturing usually being highly technical, often being placed strategically with easy access to the supply chain from other countries, such as Texas receiving parts from Mexico through train or by port to finish assembly in Dallas, San Antonio, Austin, Houston, etc.

 

[kingfollett]

Putting aside whether work from home coworkers do the same amount of work as in office, to me a great missed opportunity post Covid was the walk back from allowing remote work.
That realignment I think could have done a lot for affordability (that and not letting, what, 10-12 million walk across the border in a 4 year period).
Who knows how much, but I think it would have helped

 

[SmugAutist]

Putting aside whether work from home coworkers do the same amount of work as in office, to me a great missed opportunity post Covid was the walk back from allowing remote work.
That realignment I think could have done a lot for affordability (that and not letting, what, 10-12 million walk across the border in a 4 year period).
Who knows how much, but I think it would have helped

I'm of the controversial opinion that work from home would've only had a tiny impact on housing affordability. Access to your work is obviously a driver in where you want to live since people will pay more for a shorter commute, but it would not address the fact that people also want easy access to other services. Rural life is nice up until you realize you have to drive over 2 hours to the local Walmart or cross state lines to get to a clinic. Rural people that I know usually only go buy the stuff they need every 3-4 months and make the rest themselves.

 

[Nameless One]

I don't think I'll ever be able to buy a house.

 

[DYLAN ‘DIELAWN’ VOLK]

Is it worth buying a house in a ghost town infested with niggers if the house is affordable and kind of perfect? I already live somewhere infested with niggers, so it would be more of a lateral move. The house next door is abandoned, which looks gross but to me that's one less neighbor and it doesn't seem squattable.

 

[SmugAutist]

Is it worth buying a house in a ghost town infested with niggers if the house is affordable and kind of perfect? I already live somewhere infested with niggers, so it would be more of a lateral move. The house next door is abandoned, which looks gross but to me that's one less neighbor and it doesn't seem squattable.

Well, depending on your age and what career stage you are at or what financial goals you have set out for yourself, you have the ask the question of whether or not that is the place you want to spend a significant portion of your life in.

 

[kingfollett]

I'm of the controversial opinion that work from home would've only had a tiny impact on housing affordability. Access to your work is obviously a driver in where you want to live since people will pay more for a shorter commute, but it would not address the fact that people also want easy access to other services. Rural life is nice up until you realize you have to drive over 2 hours to the local Walmart or cross state lines to get to a clinic. Rural people that I know usually only go buy the stuff they need every 3-4 months and make the rest themselves.

Much cheaper housing doesn’t have to mean being two hours from Walmart. Compare house prices in, say, Tulsa to Scottsdale.

 

[DYLAN ‘DIELAWN’ VOLK]

Well, depending on your age and what career stage you are at or what financial goals you have set out for yourself, you have the ask the question of whether or not that is the place you want to spend a significant portion of your life in.

Inside the house, I would be happy. I'm thinking about getting a hotel there so that I can see if it gets scary at night. I haven't found anything else I like this much, but maybe I should just wait longer. I've been looking for like two years.

 

[reptile baht spaniard rid]

Rural life is nice up until you realize you have to drive over 2 hours to the local Walmart or cross state lines to get to a clinic. Rural people that I know usually only go buy the stuff they need every 3-4 months and make the rest themselves.

there's rural and there's rural and there's true fucking boonies in buttfuck egypt.

Most of what people call "rural" is just "driving to the city passes some farmland. There are Walmarts in areas with cheap houses that aren't in the ghetto (walmart actually seems to flee ghettos with some regularity).

One of the problems is you can't really do a new build for less than $250k these days, even if the land is cheap as free.

 

[Audit]

One of the problems is you can't really do a new build for less than $250k these days, even if the land is cheap as free.

I don't think I'd recommend a new build for a first house anyhow. Chances are early in life that you'll want to move within a few years for a better job/location anyhow. Buying an older home and doing nothing more than maintenance work on it is a viable option. Just don't buy a home that's 3 years from a new roof or otherwise structurally compromised.

 

[SmugAutist]

One of the problems is you can't really do a new build for less than $250k these days, even if the land is cheap as free.

Fucking hell. I got negrated to shit a few months in A&N back because I pointed out that Trump's one trick pony of threatening tariffs every single week was going to cause instability in the construction business due to fluctuations in building materials. Every singly input that goes into a home or a warehouse jumped up 50% not including inflation since the pandemic due to supply chain issues. Don't expect stabilization at least until USMCA is renegotiated and signed, even if it doesn't include Canada this time.

That's actually one of the main reasons why new construction is either in the downtowns or in the suburbs. The ones building the McMansions in the suburbs are trying to add as much value as possible to justify selling a house for over $500K despite the fact that they're building in marginal land, since the actual physical land is the only thing they can get for cheap.

We hate to look back at the housing bubble pre 2008, but the bubble was one of the many reasons so many developers were so comfortable building single family homes in small towns and suburbs. After the bubble burst, we've been buying up all the excess supply and now there's no way to keep up with demand, and we are unlikely to have an efficient supply chain to build cheap for at least another 10 years.

 

[Never Scored]

Except that dropping house prices usually means that either the economy is fucked or there's an influx of jeets and niggers in your neighborhood. It's the price you pay to insulate yourself from diversity. See also, California.

The opposite is almost universally true. If Jeets drove housing prices down, the housing market in Canada wouldn't be out of control.

 

[SmugAutist]

The opposite is almost universally true. If Jeets drove housing prices down, the housing market in Canada wouldn't be out of control.

In America, there's usually plenty of space to build if you just want a house. Having a house close to services is another thing altogether. Though the way to isolate yourself from diversity is usually to become rich enough that your neighborhood is unaffordable to Jamal and Jangpreet.

 

[NoReturn]

In America, there's usually plenty of space to build if you just want a house. Having a house close to services is another thing altogether. Though the way to isolate yourself from diversity is usually to become rich enough that your neighborhood is unaffordable to Jamal and Jangpreet.

If you're going to build rural, you either need the skills to DIY a lot of things, or you need to save up/budget for things like digging a well, setting up septic, setting up electricity, getting Starlink, etc.

 

[SmugAutist]

If you're going to build rural, you either need the skills to DIY a lot of things, or you need to save up/budget for things like digging a well, setting up septic, setting up electricity, getting Starlink, etc.

Yep, like said before, everyone romanticizes rural life until they have to fix their car engine and the nearest shop is an hour away. If you don't have DIY skills, don't even bother living in a small town.

I'm mostly referring to satellite towns or suburbs that are near the big cities but are usually gatekept from the proles due to how expensive it is to live there. People will pay good money to stay away from diversity.

 

[Cane Skretteburg]

If you want an affordable home, you have to move somewhere where people do not want to live. The prices then are still outrageous for what you get imo, but what are you going to do? The system is currently designed to incentivize owning nothing. You want a nice white collar job in a city? You will rent. Are you cool with working in agriculture/manual labor/mining/logging etc? If yes, you can get a house out in the sticks in an area that niggers are afraid to go for a fraction of your urban/suburban prices. I understand that that isn’t a lifestyle that a lot of people are willing to live, but it’s increasingly becoming the only option short of winning the lottery or your long lost dead uncle leaving you an inheritance.

 

[Never Scored]

In America, there's usually plenty of space to build if you just want a house. Having a house close to services is another thing altogether. Though the way to isolate yourself from diversity is usually to become rich enough that your neighborhood is unaffordable to Jamal and Jangpreet.

Yep, like said before, everyone romanticizes rural life until they have to fix their car engine and the nearest shop is an hour away. If you don't have DIY skills, don't even bother living in a small town.

I'm mostly referring to satellite towns or suburbs that are near the big cities but are usually gatekept from the proles due to how expensive it is to live there. People will pay good money to stay away from diversity.

Ok... but you specifically said rising home values means there are not jeets moving into your community which is objectively false. You're talking about moving into an expensive gated community. This is a very different thing than your average homeowner seeing the value of his home rise or fall. I can tell you from first hand experience your home price rising does not mean Jeets and niggers are not moving into your neighborhood. Quite the opposite, actually lol