exception: you're already a multi-millionaire
>b-but 5% rule
putting 40-80% of your wealth into a single asset is ALWAYS a terrible idea. The 5% rule completely ignores something called RISK, these made-up rules and calculations completely ignore risk. You may be buying the tip of a housing bubble, you don't know, none of us can predict the future. Take that extra money you aren't spending for a house and invest in multiple assets, REITs included.
>paying $1500 a month for borrow a house
>slaving away 30 years for something that'll lose value
>pay 800k for a house for 2 decades
>some meth (or whatever new drug they come up with till there) cooker moves in your neighbor
>tanks to 200k
>risk
Theres this little thing called "insurance".
thats why you buy in mostly asian neighbourhoods my area is almost entirely korean and chinese, real estate agents use ethnic networks and even price the houses with lucky digits guaranteed safe investment for at least 30 years
and renting a home you’ll never own is “value”? lul
yes this happens every time
>"renting" a food you will shit away and not own is retarded
housing is a basic need like eating, you are renting a service. I'd rather invest the money for the mortgage than get tied up to something for 30 years.
>what is wealth transfer
Also stop living in shitholes dumb nigger. Name any major city that has property which isn't worth more than it was in 1990.
every investor knows this. only smoothbrains that fall for boomer memes are buying homes.
Your train of though holds almost no value because with today’s low rates you’ll probably pay the same or even less monthly than what you’d pay rent. Even if you factor the extra cost of interest you can always just pay it off quicker. In your case you get nothing back on rent.
A house is a liability unless you buy it straight up with cash or you rent out a room
>Theres this little thing called "insurance".
are you comparing rent vs (principal + interest) or rent vs (principal + interest + taxes + maintenance + insurance)
imagine not buying acres of land for the price of renting a cuck closet for a year, and then building a house on it with your bare hands
The latter. I recently bought a home for $275k at 2.75% interest (30 year). My monthly payment is ~1350 including loan, property tax, and insurance.
I dunno, bought a condo 3 years ago and it's gone from 170k to 410 since then. Sounds like you need to learn how to make better decisions.
What was your down payment? What's your income and credit score?
Put 20% down to avoid mortgage tax. Credit score 750 but needed my dad to co-sign because I run my own business and didn’t start paying myself until this year. They wanna see tax returns.
Cherry picking at the start of the 90's bullrun is dishonest, why didn't you pick the start point at the height of the tech bubble?
Housing is usually leveraged at low interest vs stocks which are not leveraged. Most people don't have $200K to put in to stocks
You can live in a house, you can't do anything with a stock
Finally a thread with some sense to it
How do you do this and also have internet?
I just want a nice comfy cuck shed for my wife's black bull, I don't care if I own or rent it for him, money is not a problem, my wife's biological needs are
Based
if you live in an area where population increases at any measurable percent year after year, buy. if your area's population is either stable or decreases, rent. any other rationalization is cope.
>don't take advantage of cheap leverage subsidized by the government
>associate with the other broke renters in your neighborhood instead of other successful home owners
>ignore the fact that you can just walk away and leave the banks holding the bag if it all goes tits up
OP is a jew who wants you all to be poor forever.
I hear you bro
Bruh if you aren't poor then it's not 40-80% of your net wealth. Owning land is always good.
Buy some Suterusu today and buy a house in 2 years time.
are you mentally disabled
>Most people don't have $200K to put in to stocks
that's a bad argument as you can (and should) simply buy stocks monthly such that even if you started buying near the top of the bubble, you'd still make a huge profit long term. And you wouldn't be paying any interest, you'd be EARNING interest on them long-term.
>you can't do anything with a stock
you can earn dividends, stocks are a source of income.
i don't think that's cherry picking. that's actually going back further 10 years and the performance speaks for itself.
sure you can live in a house. but it's an illiquid asset. you can't sell it quickly enough if you needed some liquidity. sure you can get an heloc but you would need equity on that property.
stocks generally they are VERY liquid AND they pay dividends. you have more flexibility with an equity portfolio.