ABlackMan
Superstar
March April May. We haven’t had a big country wide spectacle yet. One of these months will bring more fuel to the fire Katt Williams started 2024 with
When Will Houses Go Back To Fukkin Normal Prices????
- Thread starter Prince.Skeletor
- Start date
MicIsGod
They like what that mean
PTSD is baked in our genes brehThis is the only valid solution that I see. Stay at home as long as possible and work together. If you don’t have a partner, work w a friend or family. Build family units.
We need eachother more than ever in every way but people are so fukking hardheaded. We’ve lost community and group economics
The problem is people (especially Black people) are more individualistic and self centered than ever. We don’t trust our partners, friends or family.
The groups such as Mexicans Asians etc will always lap us cause they understand it’s a team game.
Breh, Indianapolis, Cleveland and Detroit aren't sundown towns
Gotta wait till boomers die out quite frankly, the people saying never and it’s only going to go up don’t really understand the boomers control this market and a lot of them have estranged many of their future generations and live alone so there will be a lot of houses that won’t be inherited or sold for the purpose of moving to another. Not to mention the population reversal means less people will buy houses, and you can just do supply and demand with that.
Moving across states just to not be homeless or perpetually in the nest is an issue...
That's going to take a while. And even still, when we say never, we're talking about pre-pandemic prices. That's not returning.
dora_da_destroyer
Master Baker
Do you have any proof of this supposed glut from estranged boomers and kids? Because almost every study and article shows that as boomers start dying off it will be the greatest intergenerational wealth exchange ever, one that will further accelerate the black white wealth gap.
Pl
Topeka is am example plenty of smaller towns
Plenty of people with degrees enlist.
Topeka is am example plenty of smaller towns
Facts. We purchased a nice home around the same time and prices have skyrocketed since then. Our house price doubled like it was nothing.
I have no idea if this is sustainable though. Its insane. I heard them saying on the news that 38 million people in the USA are drawing unemployment.
As someone who can comfortably buy but chooses to rent, remember this
1. Your primary home is not an investment.
Get that out your head right now. Primary homes appreciate but at a lower rate than the stock market or other businesses, and they don't generate cash flow like rental properties... Instead they're cash suckers
Think of your home as a cash sink. With that in mind, buying a home should be about cost minimization. Not thinking, "well if I buy a more expensive home it'll be worth more in 20 years", and so will your costs dummy
2. You don't need to buy a home.
You really don't. There is nothing wrong with wanting to buy a house, the same way there is nothing wrong with buying a car. But the greatest lie the devil told is convincing Americans the only way to wealth and generational riches is through buying a home. I promise you it isn't. Don't let the current market and fearmongers push you into home ownership before you're ready.
3. Do the math. Or have someone qualified do it for you.
See if it makes better financial sense to buy rather than rent in your area. No hotepconomist, this isn't simply a rent payment vs mortgage payment. Do a full assessment of what it'll cost you to put $40k cash on a down payment instead of in index funds. Consider costs like insurance, home repairs, property taxes, bigger utility bills... That you gotta pay now. If the math pushes you to buy, and you're ready for that responsibility, go ahead. Don't ask your realtor to do the math speak to someone with no skin in the game to give an unbiased view. Depending on where you want to live, it's better to buy or rent, financially. Determine what the math says and go from there.
You can still buy if the math says rent, but that's because you now realize buying a house isn't an investment, it's more of fulfilling a personal need motivated by emotional and sentimental factors. So in that instance, the pressure of needing to buy because "it's always better to buy now" is removed.
With that in mind, if you are truly in want of buying a house, then do this. Figure out how much you can afford to comfortably pay for a mortgage, repairs, property tax, insurance, and so on every month. Add inspection and closing costs. Convert that into a home price. Make sure you have 10%-20% down.
Then go on Zillow and look at a map of the United States. Put that final price in. See where the dots are? That's where you can afford to live
Don't stretch your pockets. Don't get a $600k mortgage if the $4000/month payment is going to be a struggle every month. Find a $150k house in bumfukk Idaho and live there. It's a house still. That extra money, put it in your 401k and brokerage account and buy index funds. Your net worth in 30 years will thank you.
1. Your primary home is not an investment.
Get that out your head right now. Primary homes appreciate but at a lower rate than the stock market or other businesses, and they don't generate cash flow like rental properties... Instead they're cash suckers
Think of your home as a cash sink. With that in mind, buying a home should be about cost minimization. Not thinking, "well if I buy a more expensive home it'll be worth more in 20 years", and so will your costs dummy
2. You don't need to buy a home.
You really don't. There is nothing wrong with wanting to buy a house, the same way there is nothing wrong with buying a car. But the greatest lie the devil told is convincing Americans the only way to wealth and generational riches is through buying a home. I promise you it isn't. Don't let the current market and fearmongers push you into home ownership before you're ready.
3. Do the math. Or have someone qualified do it for you.
See if it makes better financial sense to buy rather than rent in your area. No hotepconomist, this isn't simply a rent payment vs mortgage payment. Do a full assessment of what it'll cost you to put $40k cash on a down payment instead of in index funds. Consider costs like insurance, home repairs, property taxes, bigger utility bills... That you gotta pay now. If the math pushes you to buy, and you're ready for that responsibility, go ahead. Don't ask your realtor to do the math
speak to someone with no skin in the game to give an unbiased view. Depending on where you want to live, it's better to buy or rent, financially. Determine what the math says and go from there. You can still buy if the math says rent, but that's because you now realize buying a house isn't an investment, it's more of fulfilling a personal need motivated by emotional and sentimental factors. So in that instance, the pressure of needing to buy because "it's always better to buy now" is removed.
With that in mind, if you are truly in want of buying a house, then do this. Figure out how much you can afford to comfortably pay for a mortgage, repairs, property tax, insurance, and so on every month. Add inspection and closing costs. Convert that into a home price. Make sure you have 10%-20% down.
Then go on Zillow and look at a map of the United States. Put that final price in. See where the dots are? That's where you can afford to live
Don't stretch your pockets. Don't get a $600k mortgage if the $4000/month payment is going to be a struggle every month. Find a $150k house in bumfukk Idaho and live there. It's a house still. That extra money, put it in your 401k and brokerage account and buy index funds. Your net worth in 30 years will thank you.
Man I was checking mortgage interest rates
They so much higher than before
So not only are homes mostly condos & unaffordable but even interest rates
Wtffd
They so much higher than before
So not only are homes mostly condos & unaffordable but even interest rates
Wtffd
Cope and capAs someone who can comfortably buy but chooses to rent, remember this
1. Your primary home is not an investment.
Get that out your head right now. Primary homes appreciate but at a lower rate than the stock market or other businesses, and they don't generate cash flow like rental properties... Instead they're cash suckers
Think of your home as a cash sink. With that in mind, buying a home should be about cost minimization. Not thinking, "well if I buy a more expensive home it'll be worth more in 20 years", and so will your costs dummy
2. You don't need to buy a home.
You really don't. There is nothing wrong with wanting to buy a house, the same way there is nothing wrong with buying a car. But the greatest lie the devil told is convincing Americans the only way to wealth and generational riches is through buying a home. I promise you it isn't. Don't let the current market and fearmongers push you into home ownership before you're ready.
3. Do the math. Or have someone qualified do it for you.
See if it makes better financial sense to buy rather than rent in your area. No hotepconomist, this isn't simply a rent payment vs mortgage payment. Do a full assessment of what it'll cost you to put $40k cash on a down payment instead of in index funds. Consider costs like insurance, home repairs, property taxes, bigger utility bills... That you gotta pay now. If the math pushes you to buy, and you're ready for that responsibility, go ahead. Don't ask your realtor to do the math
You can still buy if the math says rent, but that's because you now realize buying a house isn't an investment, it's more of fulfilling a personal need motivated by emotional and sentimental factors. So in that instance, the pressure of needing to buy because "it's always better to buy now" is removed.
With that in mind, if you are truly in want of buying a house, then do this. Figure out how much you can afford to comfortably pay for a mortgage, repairs, property tax, insurance, and so on every month. Add inspection and closing costs. Convert that into a home price. Make sure you have 10%-20% down.
Then go on Zillow and look at a map of the United States. Put that final price in. See where the dots are? That's where you can afford to live
Don't stretch your pockets. Don't get a $600k mortgage if the $4000/month payment is going to be a struggle every month. Find a $150k house in bumfukk Idaho and live there. It's a house still. That extra money, put it in your 401k and brokerage account and buy index funds. Your net worth in 30 years will thank you.
Foh
100 percent agree with everything you said broAs someone who can comfortably buy but chooses to rent, remember this
1. Your primary home is not an investment.
Get that out your head right now. Primary homes appreciate but at a lower rate than the stock market or other businesses, and they don't generate cash flow like rental properties... Instead they're cash suckers
Think of your home as a cash sink. With that in mind, buying a home should be about cost minimization. Not thinking, "well if I buy a more expensive home it'll be worth more in 20 years", and so will your costs dummy
2. You don't need to buy a home.
You really don't. There is nothing wrong with wanting to buy a house, the same way there is nothing wrong with buying a car. But the greatest lie the devil told is convincing Americans the only way to wealth and generational riches is through buying a home. I promise you it isn't. Don't let the current market and fearmongers push you into home ownership before you're ready.
3. Do the math. Or have someone qualified do it for you.
See if it makes better financial sense to buy rather than rent in your area. No hotepconomist, this isn't simply a rent payment vs mortgage payment. Do a full assessment of what it'll cost you to put $40k cash on a down payment instead of in index funds. Consider costs like insurance, home repairs, property taxes, bigger utility bills... That you gotta pay now. If the math pushes you to buy, and you're ready for that responsibility, go ahead. Don't ask your realtor to do the math
You can still buy if the math says rent, but that's because you now realize buying a house isn't an investment, it's more of fulfilling a personal need motivated by emotional and sentimental factors. So in that instance, the pressure of needing to buy because "it's always better to buy now" is removed.
With that in mind, if you are truly in want of buying a house, then do this. Figure out how much you can afford to comfortably pay for a mortgage, repairs, property tax, insurance, and so on every month. Add inspection and closing costs. Convert that into a home price. Make sure you have 10%-20% down.
Then go on Zillow and look at a map of the United States. Put that final price in. See where the dots are? That's where you can afford to live
Don't stretch your pockets. Don't get a $600k mortgage if the $4000/month payment is going to be a struggle every month. Find a $150k house in bumfukk Idaho and live there. It's a house still. That extra money, put it in your 401k and brokerage account and buy index funds. Your net worth in 30 years will thank you.
As someone who can comfortably buy but chooses to rent, remember this
1. Your primary home is not an investment.
Get that out your head right now. Primary homes appreciate but at a lower rate than the stock market or other businesses, and they don't generate cash flow like rental properties... Instead they're cash suckers
Think of your home as a cash sink. With that in mind, buying a home should be about cost minimization. Not thinking, "well if I buy a more expensive home it'll be worth more in 20 years", and so will your costs dummy
2. You don't need to buy a home.
You really don't. There is nothing wrong with wanting to buy a house, the same way there is nothing wrong with buying a car. But the greatest lie the devil told is convincing Americans the only way to wealth and generational riches is through buying a home. I promise you it isn't. Don't let the current market and fearmongers push you into home ownership before you're ready.
3. Do the math. Or have someone qualified do it for you.
See if it makes better financial sense to buy rather than rent in your area. No hotepconomist, this isn't simply a rent payment vs mortgage payment. Do a full assessment of what it'll cost you to put $40k cash on a down payment instead of in index funds. Consider costs like insurance, home repairs, property taxes, bigger utility bills... That you gotta pay now. If the math pushes you to buy, and you're ready for that responsibility, go ahead. Don't ask your realtor to do the math
You can still buy if the math says rent, but that's because you now realize buying a house isn't an investment, it's more of fulfilling a personal need motivated by emotional and sentimental factors. So in that instance, the pressure of needing to buy because "it's always better to buy now" is removed.
With that in mind, if you are truly in want of buying a house, then do this. Figure out how much you can afford to comfortably pay for a mortgage, repairs, property tax, insurance, and so on every month. Add inspection and closing costs. Convert that into a home price. Make sure you have 10%-20% down.
Then go on Zillow and look at a map of the United States. Put that final price in. See where the dots are? That's where you can afford to live
Don't stretch your pockets. Don't get a $600k mortgage if the $4000/month payment is going to be a struggle every month. Find a $150k house in bumfukk Idaho and live there. It's a house still. That extra money, put it in your 401k and brokerage account and buy index funds. Your net worth in 30 years will thank you.
Bro
It’s also about culture & ownership
How is renting not a cash cow when you keep paying but never towards ownership?
It’s perpetual payments, ownership is not, how is that not case closed?
Stocks is risky, homes are not.
Also when you die you can leave the house for the kids.
A condo with more than one floor is gonna for sure way worse than a home with 2 floors AND a basement so 3 floors.
