My parents are trying to convince me to buy a house right now but I'm not so sure...

I really hope so. I'm in the market to buy a house and would love to see landlords and oveleveraged airbnbrs get their shit pushed in by a 20% drop. I'm still going to follow from a distance for a couple months but I was thinking similarly. Now is probably the best time to buy we'll see in a good long while once the foreclosures start. I really want Nashville but I'm working a year long contract, after that I can try for another job but the deals too good to move. If we really see shit bottom out I may try to break it but Nashville won't pay nearly as much and houses there are a good 3x more expensive than my area. The one downside is that even if we drop 20% boomers are still getting a 5x on their 'investment' and I'd rather they lose money.

You need to buy from the bank. Then you might get a deal.

you should buy a house.

Here are the reasons.

1) Donald Trump is a real estate developer. He is president
2) Mortgage interest is deductible, while rent payments are not. Therefore, you can actually increase your net-of-housing-expense income by going into mortgage debt.
3) You get to live in a house
4) You get a large debt denominated in Dollars, which they just printed trillions of, and in return you get a real asset that provides a hedge against inflation, that you can also live in.
5) In large american cities, the housing market is rigged upwards. Municipal government revenue comes from ad valorum taxes, which are a percentage of a houses appraised value. Therefore, local government literally thrives off of housing price increases.

Dont fight the president, dont fight the Fed, dont fight the local government, and dont pay rent to a landlord.

There is a reason the housing market has done so well. It's on a killing spree, dont bet against it.

/thread

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You’d be stupid to buy right now , housing could crash 50% if they’re kicking you out just rent for a year

How much PNK does this african american fellow hold and who did he rob it from?

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House prices are typically "sticky" on the way down - meaning that even during economic hardships people are reluctant to offer their home to the market for less than they paid for until they have to, and will liquidate almost every other asset they own at a loss to keep their home as long as possible, meaning housing prices correct AFTET bonds, commodities, and stocks have finished correcting. Oil has already halved, bond yield inverted and dumped months ago, stock market is doing its thing as we speak. Next step is fiance institutions and banks reassign their risk, then a couple months after that the real defaults and market carnage starts. Listen to refinancing assistance proposals from your politicians, new immigrant and first time home buyer incentives, and shared risk offers from governments. Those are the signals that they are throwing the last switches before the final crash.

A bunch of regulation was put in post 2008 to prevent people from being able to state any income and get whatever destined to fail balloon structure they desired. So, in a way I see this spot as a test against those rules that were implemented. Whatever this shit is it's not realestate driven. Most millennials buying houses when turn 30. That is this year. Low interest rates for them. Question is will cheap money and the millennial demand outweigh ronacoof (unemployment)

(((unemployment)))*

wow do you shop at the grocery store? why don't you just grow all of your own food, you are just helping someone who has a mortgage on farmland you fucking retarded cuck. do you every buy electronics? why don't you have your own silicon foundry? you're literally a cuck pissing away money HELPING SOME OTHER PERSON OUT by paying THEIR mortgage on their silicon foundry.

One more thing, not all homeowners are boomer, I wish the sentiment of wanting the homeowners to get rekt would go away. There's homeowners sitting on fat equity that skateboard, and liked ninja turtles and painting Warhammer miniatures. And we got squeezed hard twice since grade school, so quit the rooting against your fellow man and peers. Landlord meme is toxic

Your parents sound gay

Running a silicon foundry is exponentially more difficult and expensive than simply buying a house. Are you a coping rentcuck?

yeah unless you have kids you're just a cuck overpaying for local schools and safety. what you said at the end is objectively false. housing has historically underperfomed the stock market and most other asset classes. but it also has the loudest and most numerous group of boosters because for most people it's the only investment they can make with a large amount of leverage. housing will continue to underperform equities and other types of alternative investments simply because it's an extremely obvious choice that every retard thinks of and there is so much liquidity ready to be lent even to crackheads at some points in the market cycle. it's a commonly held view that real estate is a good investment, but like most times when the majority of people are thinking alike the majority of people are wrong, especially over the long run.

talk to me in a year and a half when half the market is being foreclosed on with LTVs under 60%. I truly feel sorry for anyone with a mortgage

If you can afford your payments, it doesn't really matter. Also I hope it does crash. Crashes are great for making money.

Tell them you went all in on the next Amazon and show them your Arpa bags

You sound cool, sorry that you bought into an inflated market.

Try to find average down payment for the area you are looking to buy.

If it is low like under 5%, i would wait and see if volatility starts to decline in your area. This would indicate less people are being approved for mortgages in your market. This means less demand.

If it is high, like 20%, your area might not be affected too much by banks being more strict.

I own a home with about 30k in equity based on the sale price in 2014. 80k based on zillow value.

Wife and i are continuing to stuff money away as we browse for houses in our preferred market. If we see something we want, our plan is to offer ~2012 projected price + inflation.

You can’t time the market. That includes real estate. If you are in a position to buy a house and won’t end up “house poor”, you should do it if you plan to live in the house over five years.

Buy a house when you can afford it. Don't buy it based on speculation of market appreciation. Don't buy more house than you need and over leverage yourself. Treat it the same as any other purchase and not an investment because a house is not an investment, it's just a place to live.

This is the biggest boomer meme. When you rent you have flexibility. Each month I'm only on the hook for a small amount of rent. I live very close to work as well. If for some reason I were unable to pay my rent and I wanted to be a scumbag it would take a year to evict me (I'd never do this though). The qualities of a place you rent and a place you live are likely to be very different. Im happy paying $750 a month in rent instead of $2500/3000 in mortgage. When you buy a house you also have to buy furniture which is a big cost if you don't have any. Putting huge sums of cash into your home's equity may increase your 'net worth' (a meme metric) but you can't easily tap into it. There's so many better performing assets out there than a house so why dump all your cash into one unless you have it like that?
Renting is so underrated but you almost always get more for you dollar when you rent. You also get incredible mobility. I can pack up and leave tomorrow and I'm only on the hook for this month's rent them Im free and clear to go live wherever I want. Maybe there's a position out of state, or across the country. Maybe Im just sick of winters. There's a lot to consider besides 'muh throwing money away'. Especially if you're young.

>he fell for the drepession meme
Fuck back off to r*ddit

Cope