After these riots, there are absolutely ZERO reasons to be renting if you are not in school/saving for a down payment.
The only reasonable argument for renting is if you are living in NY/Chicago where you will make more money than you'd save by buying
but now that we see what happens to your cities during "protests" FUCK that. imagine being in the middle of all that garbage. imagine walking in the street worried if you're going to get randomly KTFO by some pissed off minority
reminder: a $200,000 house will cost ~$1,200 a month which includes taxes/insurance/interest with a down payment of only $7,000
the average cost of a 2 bedroom apartment is $1,100/month
and for you absolute retards who will REEEE about the fact you only pay $700/month for rent, you live in an area where decent houses can be bought for $120,000 which equates to ~$4,500 down and $600/month
there is NO reasonable argument for renting and you are a manchild for doing so
theyll do anything to get you to sign the long term contract
Brody Hall
Depends where you live. Here in Leafland, I live in Durham region. Most of our houses JUST hit the 500k threshold, but if you go deep Oshawa, you can find some ~250k shitholes. If you keep going north, the houses get nicer, and the price drops.
Daniel Phillips
Yeah, the problem is area. In my city, to live anywhere decent without druggies or thugs, houses start at double that.
Easton Sanchez
Sort of, you can a house with 3.5% down, so for 200k that comes out to about 7k. There are also closing costs to factor in though, although you can get some or all covered by the seller. The mortgage with taxes/insurance does come out to about $1200 a month BUT you will need mortgage insurance if you are using that low of a down payment which will bring you to about $1350-$1400 range. Still worth over renting IMO
Christian Peterson
I'm a NEET/ "self-employed" and can't get a mortgage despite having a $800k+ net worth. My bank advisor said they didn't want to lend me ANY money (not even $25k). And they said other banks wouldn't be willing to lend money to me either.. I don't want to tie up my entire net worth in an apartment (yes, that's how expensive my city is. A good apartment costs $500k+). I thought about asking my mom to get a mortgage in her name, but I don't want her to feel uncomfortable desu.. I know she would say yes even if she doesn't want to do it.
>don't hit me bro; the place i live in - i OWN it, not rent it!
ohh poor rentcuck.... has been living in his concrete cage for so long he doesnt even know what a regular neighborhood looks like
Anthony Adams
Here's the deal, my wife and I have 120k saved up between the two of us. We have access to the VA home loan, and shes 100% disabled which means in Texas we dont pay property tax. In my head there is no reason not to buy a house, the problem is getting approved for a loan. She makes 3k a month in disability, i make 3.5k in unemployment and GI Bill going to college. So our verifiable income is only 36k a year. We have no debt, but looking online it says most lenders would only approve a loan of 3x your take home, being around 100k. Were currently renting a place right now paying 800 a month, and with the amount of savings we have we can almost buy off the houses around here in full(they range from 140k-200k). But i would rather not blow our savings load if i can avoid it. Whats the move here guys? I wont be buying till around February of next year, but i would like to get some advice from more knowledgeable anons then myself so i can prepare.
form some bullshit LLC and pay yourself so it looks like you're employed
Jordan Price
I dont know where you live but... there's no such thing as a flat/house that can only be used for renting
Ok, I suppose if I go past two houses, and one has a family of 5, the other has 5 unrelated college students, I can deduce the family is probably the owner of their house, while the students probably rent.
But I get the impression that you have this impression house == owning flat == renting which is hilarious
Nolan Nguyen
>you live in an area where decent houses can be bought for $120,000 that still isn't true you cant find a blighted shitpile in the worst, opposite end of the metro and equate that you cumguzzling faggot
Luke Mitchell
This is a dumb post. You're forgetting maintenance fees, yearly taxes, home owner association fees and strata fees. This shit adds up not to mention the capital lost by not investing. Plus you are more risk exposed with a mortgage if you need money the bank will never give you a mortgage payment back but you can always take money out of the market. That added liquidity is very valuable. Finally areas where houses are shit cheap are often the most exposed to corrections because they don't have price anchors like school catchments, consistent jobs not to mention boomerville USA literally dying off.
Brandon Powell
>what's the next move here? easiest thing would be getting any sort of job
Nicholas Powell
do you live in fucking nebraska or something? median house price in sydney is over $1 Mil, there's no way you're getting something under 500k unless you're living out in some shitty western sydney shithole like blacktown, otherwise you'd have to go 70 kilometers down south at which point you might as well live in fucking wollongong and you need a 20% downpayment otherwise you're spending another $300-$500 a month on mortgage insurance
what are you even going on about you absolute nutter?
Camden Campbell
It's not just the mortgage man, it's home insurance, property taxes, utilities etc.
Otherwise I completely agree with you.
Thomas Gonzalez
Then abolish your central bank and make your government stop artificially insulating the housing market.
Also let people build new houses.
Andrew Jones
Single biggest problem in the US. Nobody will build affordable housing. Not even like Section 8. Like 250k cookie cutter homes. Everything’s gotta look straight out of HGTV
Ayden Foster
They can't because the government doesn't allow them to, also the central bank inflates that housing market making it unprofitable to build cheap houses
Wyatt Wilson
>saving for a down payment that's it right there though. anyone sensible is in the waiting process of saving and hoping for prices to come down. posters like you and all the other similar threads just like to shit on people while they're doing their best to save.
Connor Roberts
Housing prices are going to come crashing down soon, I would wait until then
Benjamin Stewart
>maintenance fees negligible, learn to turn a wrench >yearly taxes learn to read, dumbass >home owner association fees and strata fees pftthahaha what? are you 12? >capital lost by not investing that $7,000 down payment? lulz, even at 10% ROI, the amount you build in equity is more than that after 30 years on a $200,000 house >if you need money the bank will never give you a mortgage payment back I'll take cash-out re-fi for $100 Alex. lmao you are incredibly ignorant to this subject
>Finally areas where houses are shit cheap are often the most exposed to corrections because they don't have price anchors like school catchments, consistent jobs not to mention boomerville USA literally dying off. wrong again, retard. homes which were $300,000+ were hit the hardest in 2009.
if a $150,000 house loses 10% of its value, whoopity fucking doo, $15,000 temporarily gone
if a $500,000 houses drops 10%, not so funny (i hope you can do math, I'm absolutely doubting this right now)
get BTFO you prepubescent retard
Jeremiah Young
so I account for this in my OP yet you still come in here to bitch about it? lol wow.
Jordan Rivera
learn to read you absolute moron>reminder: a $200,000 house will cost ~$1,200 a month which includes taxes/insurance/interest with a down payment of only $7,000
Benjamin Wright
>kangodollars and USD are the same wow this is some next level retardation
Brayden Rogers
Go to other banks you fucking sperg
Tyler Jones
Imagine buying a house at the top of the fucking market instead of putting your down payment into the bottom of the Bitcoin market in 5 months time lel
Just imagine OP sat there holding some boomers bags in his negative equity shitbox that needs a new roof for 10k while I'm gonna be riding my way to the moon and getting my landlord to tend to all my maintenance like the little faggot he is, earning 8% on his investment while I literally make 1000% off of his back
