Deluded Young Home Buyers

Don’t kid yourself those boomers got rich by ruining the economy and fucking destroying the job market for young millennial boomers.

mortgage rates are pretty sick rn. I only pay slightly more monthly on a 1500sqft house mortgage than when I was renting 1BR apartments

Cope. I pay $1600 a month for a house that would rent for $2500 in the suburbs of a major city. With the Fed money printer (inflation) this house will rent for $10k nominal in a couple decades.

It’s funny how zoomers who are afraid of hyper inflation put all their money into buttcorn and silver as a hedge but simultaneously think house prices will perma crash.

i think that just means rent's fucked up

Not sure what zoomers are doing that. Only retards believe metals will save anything.

Just get in on this clown market, been going since 2008 aint' stopping anytime soon.

What if they just want to own a home, pay it off, and pass it down to their kids so they don’t have to get a mortgage when they’re adults?

They’re dumb. While mortgages are cheap right now, they aren’t handing them out to any dipshit with a pulse like they used to pre 2008 crash.

its still a good investment considering in 10 years they could just sell it and have a few hundred thousand dollars in their pocket

I want to buy a place eventually but it feels like prices are just fucking ridiculous. In Australia it's a disease, you need to take on a suicide tier mortgage to get a place some boomer bought for peanuts. You have to out buy overleveraged investors, kids with bank of mom and dad, or Chinese capital flight, and the house will be a piece of shit filled with the cheapest diy fittings and unqualified trade work. Apartments are even worse, new ones are defective and old ones will have strata/hoa fees that basically pay some guys wife 80k a year to maintain some shit garden. Its literally buy something shit on the cheap, dress it up with plastic and create a mass ponzi hysteria with no substance. All I can see it as is a uniswap pump and dump, am I too jaded or is it really a scam?

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true. only the old boomers running the CBs are buying gold.

really activates the almonds!!!!

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>With the Fed money printer (inflation) this house will rent for $10k nominal in a couple decades.

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>your grandparents got jobs that now require a 4 year degree just by saying "I'm your man" and a strong handshake
>your grandparents were able to afford a house, car and family on an entry level salary
>a mortgage wasn't a lifelong commitment

Yet were just lazy

>paid $204k for a 2500sq ft house in a comfy suburb in 2010
>It's worth 255k now

25% gains aren't earth shattering but it's better than the 0% I'd have gotten as a renter.

The property prices are so fucked here in Cambridge UK, £300k + for a fucking small flat

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Well what's the alternative? Pay the same in rent and not have a house? Live at home and not have a family? Yeah nah.

Stay well away from apartments, aust government won’t let the housing market die its propping up the economy lol. You are spot on with beating out other ppl however. It’s pretty hard. The key is knowing you are overpaying going in but at least be happy with what you’ve got for the price. Otherwise resentment will build and if you overextend will crush you financially. Also stamp duty will hack out most of your deposit so budget for lmi or save more. The catch 22 is that by the time you save more you need more because everything’s gone up. Lol

>Cope. I pay $1600 a month for a house that would rent for $2500 in the suburbs of a major city. With the Fed money printer (inflation) this house will rent for $10k nominal in a couple decades.

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Houses are already inflated. Shit investment as boomers sucked out all the gains.

Just looked at one and it's literally £320k for 478 Sq ft...

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Is it ever going to go down?

Zoomers have no experience of house price declines.
House prices are anchored to multiple of earnings and the banks willingness to lend.
Banks have already deleveraging risk by removing higher LTV mortgage products. Pensions funds have suspended property funds due to incoming ‘volatility’.
There’s going to be millions of unemployed and defaults yet you zoomers still think house prices goes up in recessions?
The boomers really did dab on you poor souls with ‘bricks and mortar only ever goes up’ meme.
Pro tip: inflation is coming. When that gets out of hand what happens to interest rates? Lots of over leveraged mortgage debt goes pop.

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I just don't understand how the fuck anybody affords the repayments lol. I'm not interested in investing but will want a place when I have kids, not locked into a major city at this stage so that's a plus.

nice fud, home ownership is the very foundation of the wealth the boomers have lol. not their fault x/y/z are retarded and dont get it. as for me, 31, homeowner, and would not have it any other way. stay poor ;o

Not until the chinks keep buying shit up/building more garbage commie blocks while charging so much for rent that they stand there for years unoccupied
We need a massive change in laws regarding old building, lands.
Ofcourse that wont happen cuz the counts that owned these lands/buildings for generations are also controlling the parliament

>Increasing population
>implying people aren't starting to wake up the demographic replacement migration policies pursued in their countries
>implying parasitic kikes exploiting the situation with the housing market will escape

What do you recommend for a 26 year old? I have enough for a down payment, I see myself staying here maybe 4-5 years but not longer. If I buy now, can I repay the mortgage in 4-5 years then flip the flat?

haha

dont forget after you pay for the house + interest you now have to continue to pay for property tax

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If you can work from home for the next few years. House prices in smaller regional cities and towns look pretty comfy to me. $250,000 for a three beddy in Gippsland.

>the fed can create inflation
Care to prove that statement?

It'd be nice if it at least kept up with inflation, but seeing as the housing market has been inflated so much in the past few decades I don't see that happening with the correction that will have to occur if housing ever becomes affordable again. Any retard with at least a 70 IQ can understand that it is unsustainable for home prices to consistently outpace the stock market and inflation, and that this will result in homes being unobtainable for anybody without a money printer.

I'd recommend people just buy a cheap home and put their money elsewhere. Overpriced homes are going to lose a lot of value when the correction occurs, so it's a bad idea to tie a significant amount of one's wealth into one. Shelter will always be valuable, so cheaper homes won't lose as much value, and someone who buys a cheaper home than he can afford and puts his money elsewhere will lose even less proportionatr to his wealth.

Meh ive given up on a crash coming anytime soon, Maybe by that time ill be able to afford 55+ housing heh.