place yourself in six figure debt to "own" a home
This sounds like a fucking terrible idea to me. Yet even people like Dave Ramsey are pro-mortgages and I just don't see it. What advantage is there to willingly putting yourself in debt? If you can buy a house outright in cash, is that not preferable?
time value of money
Elaborate
this fucking thread again
The advantage is that, in theory, your house goes up like 8% per year while you hold most of the cash and invest it in the stock market which also goes up 8-10% per year, while you pay 2-3% in interest.
This is assuming the stock market is healthy, housing market is healthy, interest rates are extremely low, and you have excellent credit. This seems like a lot of conditions but if you're IQ is over 105 then the last one is a given and the first 3 have been true for decades. So there's your answer.
inb4 "fuck all that jew shit I ain't going into debt for a fucking bank. I'll pay cash faggot"
If this is your internal response then I've met you in real life many times and I already know you are poor and will stay poor and delusional forever.
Not to mention the value of your debt goes down year over year relative to whatever salary or income you are supposedly receiving due to inflation. So there's another reason and probably what was referencing.
tl;dr buy a mortgage if your IQ is over 105. Buy outright if it's any less than that but remember you're still "above average", sport
Because if you rent, you pay someone else's mortgage, pay them for "management" of the property, pay them a margin to replace appliances which they will overcharge you for, pay for interest on the value of the home, and at the end of it all you walk away with zero to show for it. Owning your own home is literally the one sure fire way to save money and build wealth for yourself.
That's why you ape into me coins a few thousand and then buy a house
you use what you have invested into the mortgage as collateral to invest elsewhere if the interest rate allows it!
Is it the bet that the stock market will outperform the house price including the interest being paid? Doesn't sound all that different from just buying the house outright so you just get all the gains from the house appreciating, or am I missing something?
My mortgage including taxes/insurance is under $1k/month, in a market where now any 2 bedroom apartment going for double that will be surrounded by nogs. I have two kids (and hopefully will keep adding, my daughter was born in October.)
Not buying a house when I did would have been retarded.
If you had the money to pay your house outright, wouldnt it be better to simply pay your mortgage and become debt free, then use the weekly money you wouldve paid for your weekly mortgage payment to now instead buy and gamble on meme coins? Im 100% serious. Wouldn't you make more money this way?
Well, no, if the interest is very low, you can use the money to make you more money. You can also calculate inflation into the debt at least if you have fixation. But it really depends on the overall economy and interest.
I live outside of USA so i do not know what exacly is the situation in your Country/State. In my country, I would not buy real estate right now, no matter what. The city I live in has a decreasing population, and basically everyone is moving to the biggest cities, but when one looks at prices, it does not reflect it. One should take this also in mind before one buy real estate. How does the local Economy look, safety, future, population decline, etc.
My mortgage including taxes/insurance is under $1k/month, in a market where now any 2 bedroom apartment going for double that will be surrounded by nogs. I have two kids (and hopefully will keep adding, my daughter was born in October.)
What is with these retarded facebook boomers sharing personal information online nobody needs to know? just keep this to yourself.
My mortgage including taxes/insurance is under $1k/month
Tell me you are poor without using the word poor
The only thing that sucks is the outrageous maintenance and repair costs of owning a home today. If it was normal like in our parent's or grandparent's day, owning a home would basically have no drawbacks. So if you can't do repairs yourself or know someone, it can be expensive
So you would rather just rent instead of owning a place to live? I bought my place in 2017. Houses have more than doubled now. If i tried to buy a house today I would pay more than double what I paid for and I would probably be suicidal kek.
I was talking about the situation now. Not what it was 7 years ago. At that time, I just started earning money and had very little interest in any of this.
It's because when the people who shill mortgages were buying their first houses, they got interest rates that were low enough where if they took the money they had left after making their down payment and put it in stocks, their portfolios would grow in value fast enough where they'd end up with more money after paying all that interest on the house. They'd also end up with a house that appreciated in value.
Since those low interest rates are gone and not coming back for a while and anybody with a triple digit IQ can see the housing market is already starting to crash and the stock market is going to crash relatively soon, there is absolutely no reason to get a mortgage right now. A mortgage only makes sense for people like us who can turn a dollar into anywhere between $10-$1000+ after having it sit in the right crypto for a few years. Broke normies who think having $20k in the bank is an accomplishment should absolutely not get mortgages, and it's borderline unethical to shill mortgages to them since they're so stupid that they don't understand how anything I just said actually works.
literally just do your own, over the past 10 years I have owned my house I have done all the maintenance on it and it has barely cost me anything, no excuse really everything you need is easily explained in youtube videos
The Jewish banks look at your gross income and tell you that you can afford a house. How many normies fell for this and quickly realized how they can't keep up with the monthly payments? How many normies didn't have any savings after moving in and then something in the house breaks? It's crazy how people get taken advantage of by bank and how unprepared they are with actual homeownership
It's also crazy how many of them fall for the "move out when you're 18" meme. If they used the time between getting their first job and when they would be getting married if we lived in a healthy society, they would be able to either buy houses outright or put very large down payments on them and be well on their way to owning their own house. Things would even be better off for those who don't save for a house because there would be far fewer renters which would drive rent way down from what it is now, but no, people think their only purpose in the world is to grow isolated from their families and pay off debt to Jews.
yeah that would be best and I try to do everything myself but there are some things I can't do. Luckily I know a plumber who has helped me save a lot of money
The problem with getting a mortgage for me is that it fucking makes me a slave to my job for at least 20 to 30 years and that sounds like hell.
but the property value could double in that time!
This is always if you ignore all the money you had to invest in renovations by the way, but even then, what exactly do I do with this property to gain from that? Sell it? If I sell it to buy a new one, keep in mind other properties have gone up in value too, so I don't have any advantage here.
you fell for the housing is an investment meme. kind of silly for someone that should have read bitcoin standard or got saylorpilled by now. japan's approach solved the rent seeking parasitical behavior or RE jews by having houses become worthless after 30 years.
just pay rent for 25 years after you retire
just get booted out when your landlord decides to sell
Kek good luck with both of those, retard
I'll just go live in my mom's house after I retire. She will be dead by then anyway.
I took out a mortgage because it switched me from paying $1500/month renting an 800sqft 1 bedroom 1 bathroom apartment to paying $1000/month for a 2200sqft 4 bedroom 3 bath house on a secluded acre.
Ya come on you retards just DIY your roof, install a new furnace, treat termite infestation, paint your house, repair broken water main, install a new deck. Lots of videos on these subjects if you can’t do this yourself than you don’t deserve a house.
Bro there are Indians on YouTube who probably explain this in English, maybe even with Hindi subtitles if you are a true Anon Babblejeet
Because it's the only thing for a lot of braindead people to save moeny and not spend their entire paycheck.
Also provides a space for children to be born and raised which most people do between 20-40 and not turbonerds staying alone collecting cunny dolls
I'll just go live in my mom's house after I retire
you sound like a real ambitious guy. enjoy your lifetime of sitting on your own, typing online
what does it matter to you what other people do with their time? you sound like a controlling femoid.
Its the one thing he can humblebrag about, give him a break hahah
house go up forever
stock market go up forever
line go up always
Until they do not
it doesn't matter to me. i was just responding to his answer to me. he offered a terrible answer. also, you're digressing from the point of the convo which is whether taking a mortgage is a good idea or not.
i always suspect the people who cling to the renting idea do so because they are unable to be approved for a mortgage, and not because they think renting forever is a good idea. that's fair enough, but they should admit it eg. "i'm too poor and have a shit job and no savings so i have no choice but to rent". at least it's being honest.
Pay rent
Money goes into landlords pocket
Pay mortgage
Money (minus interest) goes into your house equity which goes back into your bank account if you were to sell the house
It really is that simple
I found a really simple solution:
live with parents
pay almost no rent
invest 90% of your paycheck into stocks
buy an apartment after a few years
its THAT easy trust me
I will never pay rent or a mortgage.
I will live with parents till they die and inherit or I simply have enough to buy a home outright.
based
i always suspect the people who cling to the renting idea do so because they are unable to be approved for a mortgage
I know you think this, because all mortgage faggots think the same, if they could think of a better use of their money they wouldn't be mortgage faggots.
What if they pull the ultimate boomer move by getting a reverse mortgage to fund a lavish retirement?
I’m homeless how does this thread benefit me?
lives in a fire, earthquake, flood, hurricane zone.
NGMI
Debt and paying greedy bankers interest. It's definitely totally not a scam goys! Don't throw away your money on rent!
Most people can't afford to just buy a house with cash.