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

[Overly Serious]

Yeah the whole “just throwing money away” by renting is a stale 2000s-era meme. There’s what you pay in a mortgage and there’s the true total cost of owning a house. Very rarely will you get honest answers on the latter because yeah a few hundred dollars and an entire weekend spent at Home Depot and those costs never get talked about. Also the older you get, the more that time is an opportunity cost. Or people just put off repairs because they can’t afford it now and we all know how problems just fix themselves over time.

Both views have valid points. Unless you're very lucky, you're going to end up spending a bunch on your house above and beyond the mortgage. Some of it is optional - you don't actually need to redecorate the living room just because you hate the flock wallpaper the old lady you bought it from had that. But you want to. Others are not optional - those tiles came off the roof and they have to be replaced. And there's a margin of "shoulds" in between - maybe those boards need replacing but it can probably be put off till you have more money.

There's a bunch of responsibilities and costs which come with owning a house. But it's also a generational thing. If you rent and only ever rent, your kids might be stuck in the same situation as you all of their lives as well. If you have a home, you keep it in good repair, you're moving your family a little forward as well. Social class / wealth tends to change generationally, not within the individual life. (And thus the elites have to reset things every now and then with a big Depression allowing them to buy up all the property once more, but that's another conversation).

If you can, and if you're ready for it, buying a house is usually better than renting. Once you pass the tipping point that you're spending less on your mortgage than you would on your rent, then life starts to get a bit easier financially. It's also what a lot of people look for in a partner - financial stability. Owning a house says that a lot more than renting a property.

 

[The Hardest R]

I don’t disagree with those points either. I bought my house just before the post-COVID insanity. The value proposition changed dramatically before and after. Owning a home up to 2020 was a period that does not seem to be coming back. Price wars with another interested buyer is retarded but it happens often. Shit breaks down, even in a new home. A lot of times these things just don’t get shared with people.

 

[Anakin Soywalker]

Remember back at the start of this thread in 2022 when everyone was prophecysing an impending market correction that never came? Is it truly ogre? Apparently I'll need a 50% down payment to afford my payment with two incomes and good credit. There are no more corrections. We just slide further into Brazil status with a widening wealth gap and a burgeoning underclass of tax cattle.

 

[The best and greatest]

Looking for some advice on buying a condo.

Fucking don't.

Condos are for stupid idiots who got suckered in by friends in the 90s and rich assholes who buy big-ass boats they never use

The only way I could envision myself owning a condo is if I was some kind of executive who had to make regular trips to the big city and wanted my own place to stay while I'm there.

 

[The Hardest R]

Remember back at the start of this thread in 2022 when everyone was prophecysing an impending market correction that never came? Is it truly ogre? Apparently I'll need a 50% down payment to afford my payment with two incomes and good credit. There are no more corrections. We just slide further into Brazil status with a widening wealth gap and a burgeoning underclass of tax cattle.

The quiet part was said out loud by Trump when he said housing prices can’t go down. The “corrections” we see thus far are piss poor at best. The moment housing prices come down, mortgage rates get jacked up. A house going for $600k now going for $590k but the mortgage rate goes up from 6% to 6.1% is not a correction. However the media treats it like it is.

My house is about worth double what it was when I bought it in 2019 and that is absolutely fucking insane.

The only way I could envision myself owning a condo is if I was some kind of executive who had to make regular trips to the big city and wanted my own place to stay while I'm there.

Those condos are usually paid for by the business as well via executive compensation packages.

 

[FlappyBat]

The quiet part was said out loud by Trump when he said housing prices can’t go down. The “corrections” we see thus far are piss poor at best. The moment housing prices come down, mortgage rates get jacked up. A house going for $600k now going for $590k but the mortgage rate goes up from 6% to 6.1% is not a correction. However the media treats it like it is.

Basically no president is going to willingly allow home prices to drop in nominal dollars. We have normalized and promoted everyday people leveraging their every loving tits off to purchase a house. Even a small drop in nominal value can destroy them for only doing what has been promoted as one of the only ways to a prosperous life in America.

The only realistic way homes are going to become more affordable is the long process of inflation eating away at the nominal value and hopefully some higher real wage growth outpacing home purchases cost.

 

[ChickenFriedFan]

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

 

[The Black Kettle]

we have a va loan house and it still was bought at a high interest rate. I don’t ever believe interest will fall below 4% to make refinancing worth it

 

[Anakin Soywalker]

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

:/ that blows man I'm sorry

 

[The Hardest R]

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

Looks like you’ll just have to take your share out of the house then.

 

[Thumb Butler]

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

I'm sorry for saying this, but what an asshole. Does he think the house fixed itself? He can easily pay you back.

 

[Naproxen Sodium]

Yeah the whole “just throwing money away” by renting is a stale 2000s-era meme. There’s what you pay in a mortgage and there’s the true total cost of owning a house. Very rarely will you get honest answers on the latter because yeah a few hundred dollars and an entire weekend spent at Home Depot and those costs never get talked about. Also the older you get, the more that time is an opportunity cost. Or people just put off repairs because they can’t afford it now and we all know how problems just fix themselves over time.

Lots of people never reno or repair anything for decades on end. Yeah, I guess that saved them money, but I'd rather not live like that. Past the age where kids are an issue and I don't want dogs (just a lifestyle thing, not that I hate them). Love to come home and think eh, that's the landlord's problem or I could just move if it really annoys me. Money goes into investments instead. I have a good amount in retirement, so not worried about that.

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

Damn, your parents are fucking assholes. Sorry.

 

[Seething Troon Collector]

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

You told them that you’re never going to speak to them again, right?

 

[evrae]

Across the pond I've been looking at saving up like hell (same with the rest of my extended family) to snap up houses later down the line. That's because we all figure our government is retarded enough to cause the correction and subsequent price crash (already starting to see it with all this shit punishing renting out homes). Would certainly be nice having a few in the neighbourhood alongside the ones we own and actually live in. Failing that there's always the inevitable AI bubble burst to work off of in the future.

For the time being we've been looking at reducing costs, like fitting tanks to the storm drain pipes (instead of letting them go into the drainage system) for free water for the garden and it massively reduces our water bill. Aside from that just having to deal with a retarded council house neighbour who keeps attracting pests to their property. Anyone else doing shit to reduce bills?

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

I suppose it's good to remind them that they pray they never need a carer or a place at a retirement home now. Shit's why I make sure names and signatures are on paper. Can't get screwed if it's all in writing and billed.

 

[Flatline]

They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

Consider legal action.

 

[SauceRyuKen]

I got taken for a ride by my own parents.

Boomers, perchance? It always sucks to gamble on their narcissism because even when it makes no logical sense for them to screw you over, they typically do.

It's double-shit too, because you give up your inheritance so they can have more money now, presumably to live it up. Do they plan on making it right, getting a different place that you get to inherit, or it's just all going into their pocket so it can all go into a lavish lifestyle? I know boomers who straight up told their kids they were getting jack shit because they were planning on selling everything and spending every last dime.

They better start considering a super healthy diet and start working out. I suspect someone isn't gonna be around to take care of them if they need that.

If you're just getting screwed over completely and the bridge is burned, indeed consider legal action. At least they'll have to waste a considerable part of the money in legal representation and counsel. As long as it's more than they saved by not paying you, you "Won" in a sense, petty as that might be.

 

[ObeseScreamingBlackMan]

retarded council house neighbour who keeps attracting pests to their property.

One of the main reasons that shared walls is a nigger-tier living situation that I refuse to be a part of.

 

[evrae]

One of the main reasons that shared walls is a nigger-tier living situation that I refuse to be a part of.

In this case not even shared walls. The retard is just that much of a retard their whole front and back yards are full of all kinds of garbage. In the alley bit my home's backdoor leads to to get to my back garden we've seen the occasional Turk cockroach, probably got in through some sort of small gap of the big fence blocking off their property from ours.

 

[NoReturn]

I got taken for a ride by my own parents. They got into massive debt, so they wanted to sell their house and move to a cheaper state, but they hadn’t done any maintenance on the house in the 10 years they owned it. They had no money to hire anyone, so I spent the last year and a half — and went $24k into debt — fixing up the house with the promise that they would pay me back for what I put into it when they sold it. Not even labor, just the money I spent on repairs and materials.

I bought and replaced toilets, installed new appliances, tore up their chipped bathroom tile and replaced it, fixed their showers, repaired the sprinkler lines, replaced the worn-out carpet with laminate hardwood flooring, replaced their degraded piping, got the foundation repaired, fixed the front and back yard, repaired and re-stained the fence, and completed countless other projects around the house. I pretty much learned how to build a fucking house through YouTube videos.

Now they’re finally selling the house this month. They’re getting around $500k for it, and when I talked to my dad today, he said he never agreed to pay back the debt I took on fixing his house.

Consider legal action.

This is so fucked. A verbal agreement won't hold in court, and against parents the court system will tell you to sort it out yourselves unless you had some kind of contact.
If it's Boomers, you may even have things they can take advantage of against you.
Fucking hell, that is some bullshit.

 

[Thumb Butler]

I'm not US based, and I'm "only" trying to save up for a small flat for me and my hoard, but fucking hell, the prices have doubled (or more) in just five years.