RareHunter
All Star
Lol there is no greater way to wealth than home ownership and land ownership. Any other way, puts you at the mercy of whoever owns the buildings you rent. Ownership is everything breh.
America's Looming Housing Crisis
- Thread starter Afro
- Start date
-
- Tags
- americanway well damn
Nahhh it's only so much that the Feds can do to prevent a crash from happening again. They've essentially been propping up everything since the pandemic to prevent the bottom from falling out and it's only a matter of time before it falls anyways.
EXACTLY why I didn't get permits to finish our shyt. And I damn sure ain't saying jack until I absolutely have to. I know I'll be over 5 racks if I do.
DropTopDoc
20/20 Vision With my Buffs On
that part two, it was some company i forgot the name, buying up blocks in Texas and other areas and it’s like how can they afford that
Man I just got my "new" home insurance and taxes increase due to this market and I'm sitting here like
Welcome to the rest of the western world amerikkka where we will never be home owners
A lot of people own homes though..
1. Only taxes you pay on stock is when you cash out (probably less if you use a Roth IRA) When you own a house you pay property taxes every year, in addition to capital gains when you sell. It's not the same.
2. Most people don't, but regardless, I can make that same argument about the stock market (I'll put more there too)
3. Insurance is a cost too. Whether you paying insurance or with a credit card when shyt breaks, you're paying for maintenance.
4. It is what it is with closing costs for a house... I don't need to pay closing costs to get rid of stock when it's ready.
All power to those who choose to buy a house, but it's not the "fastest way to wealth acquisition". The stock market is. And I'm not talking about speculative nonsense, a boring cash flow into an aggressive ETF that tracks the market beats real estate, 99.99% of the time.
I'm not saying it's not a good return. I'm saying when you consider those costs, what your down payment could have done in the market over that period of time... Strictly financial wise... I'd rather rent and invest. Less bother with a house too.
But to each their own.
See, this is what I'm tryna combat. This narrative isn't accurate.
Look at the wealthiest people. Most of their money isn't in real estate or land. It's in the market.
If you like tangible assets that's one thing; but they aren't the fastest way to wealth. Not by any criteria.
ypi know what I meant nukka
I live in a city where even 100k down will leave yoj with a 1.2 million dollar mortgage and payments of like 5 k a year for the next 25 years
and turn around to rent out the places.
We changed our shyt in our neighborhood subdivision from an HOA to POA to limit investor owned properties.
This one cat was was renting out rooms and shyt in his house. His cac ass was furious talking about he lawyering up and all kind of shyt.
Newsflash sucka, the people that own in our neighborhood (mostly black) are mufukkaz that can easily do the same. Matter of fact his neighbor and the guy who lives across the street from me is a lawyer. And he voted for the POA.
You lost. Aint' bringin down our property value wit your fukkery.
Dzali OG
Dz Ali OG...Pay me like you owe me!
Couple what we're talking about with the petitions everyone is asking you to sign for "affordable housing".
I'm not well educated on the history, but are we seeing the beginnings of another "projects" movement?
Is it about to be a bigger class issue?
I'm not well educated on the history, but are we seeing the beginnings of another "projects" movement?
Is it about to be a bigger class issue?
when people can't afford these places, the prices will drop.
You do not pay taxes on stocks
You pay capital gains, of course, but thats only when you sell or you dont reinvest your dividends. In any case, those pale in comparison to property taxes.
Cobalt Sire
All Star
Why are rich people buying up all the properties now? Seems like something that would've happened a long time ago since it's basically free money. That's why I don't agree with all this landlord bullshyt. It's free money for the landlord and more expensive housing for the working class. Any sort of effort to fight this exploitative system is hard, because poor whites see an unfair system as an opportunity to screw over black people, even if whites have to suffer as well. That's why the rich can seemingly do whatever they want in America.
