yeah like all those first time home owners in the US who got shitty mortgages they cant pay and caused a crash right?DrunkFace wrote:
Sounds like you're all just 'too cool' to be financially responsible.
g
g
The fuck are you talking about?Uzique The Lesser wrote:
oh okay the guy who dropped out of university because it "cost too much" and the guy who has a mortgage in his 20's is raging at everyone else because they're 'too cool'. maybe they just had different circumstances to you? maybe they just want to lead a different life? it's their money. stay mad bro. every single one of your posts in d&st reek of bitterness over your life choices. you're that boorish guy who at age 21 is trying to be "adult" and scowls at all his peers who are "so immature".DrunkFace wrote:
Sounds like you're all just 'too cool' to be financially responsible.
i'm talking about you trying to insult people who rent. it must be borne out of some stupid insecurity. it is not 'too cool' to rent. some people want to live in a city and work a career. you cannot get a mortgage there. 'too cool'. okay. enjoy your shitty life.
I'd rather rent and be able to travel to Europe, lolUzique The Lesser wrote:
the only way to live your life and spend your money is PROPERTY PROPERTY PROPERTY! you must own! forget most of europe. they are too cool.Jaekus wrote:
By choosing not to purchase property I'm somehow being financially irresponsible? lol
hipster.
totes
I haven't insulted anyone. And yes you are 'too cool' and financially irresponsible.
Jaekus wrote:
I prefer the lifestyle of inner city life so I've long accepted that unless a significant windfall comes my way I will be renting for quite some time.
Attitudes like that, where you want the immediate gratuitous 'lifestyle' to the point of complete apathy to any long term goals. The funniest thing is Jaekus doesn't even live 'inner city', he's just out in the suburbs like everyone else. You want to waste your money on rent, that's fine, but it doesn't stop it from being financially inferior. People don't rent out properties as a charity case, they do it as an investment to make money, and if they're making money; you're the one losing it.Uzique The Lesser wrote:
nobody is saving up fifty grand in their 20's whilst working and living in london
'financially inferior'. you are a fucking idiot. you don't know what you are talking about. if you want a good career in the UK, you're moving to london. if you're moving to london, you're renting. that's just the way it is. AVERAGE FIRST HOUSE AGE IS THIRTY-FIVE IN THE UK. let that sink in. everyone younger than 35, renting and saving up = hipsters? 'irresponsible'? living at home for 15 extra years? just stop talking.
also my comment "nobody is saving up" is not about people wanting some luxury champagne-cocaine lifestyle. you could not save £50k living in london for your 20's. it is too expensive. everything. travel, food, going out, clothes, petrol, large student loans. it is too expensive. grad workers even for top companies seldom make more than £35k/year through their 20's. try saving 25% of a property price for that deposit. okay. guess they're all hipsters. fucking idiot.
also nice grammar. shame you were too financially responsible to finish school.
also my comment "nobody is saving up" is not about people wanting some luxury champagne-cocaine lifestyle. you could not save £50k living in london for your 20's. it is too expensive. everything. travel, food, going out, clothes, petrol, large student loans. it is too expensive. grad workers even for top companies seldom make more than £35k/year through their 20's. try saving 25% of a property price for that deposit. okay. guess they're all hipsters. fucking idiot.
also nice grammar. shame you were too financially responsible to finish school.
Last edited by Uzique The Lesser (2013-07-03 08:46:03)
Crows Nest is "out in the suburbs"?
lol
lol
thick as shit.
It USED to be a more financially sound decision to buy a house since you could almost guarantee getting what you paid into it back if/when you decided to sell. It's not even remotely guaranteed anymore.
If you purchase property, it is only slightly guaranteed that you will break even if you are renting it out. So, the two smart decisions right now seem to be, renting a place and/or owning a rental property.
But, ownership for the sake of ownership isn't the smartest option at the moment.
If you purchase property, it is only slightly guaranteed that you will break even if you are renting it out. So, the two smart decisions right now seem to be, renting a place and/or owning a rental property.
But, ownership for the sake of ownership isn't the smartest option at the moment.
...
Location location location and timing. Property I bought about 20 years ago leases easily at 2x original monthly mortgage.tuckergustav wrote:
It USED to be a more financially sound decision to buy a house since you could almost guarantee getting what you paid into it back if/when you decided to sell. It's not even remotely guaranteed anymore.
If you purchase property, it is only slightly guaranteed that you will break even if you are renting it out. So, the two smart decisions right now seem to be, renting a place and/or owning a rental property.
But, ownership for the sake of ownership isn't the smartest option at the moment.
And at the moment loads of people, notably from mainland China and South Korea, are buying home after home with cash. Can't speak for outside of SoCal though.
Friend is doing quite well in the fixer upper flipper business with about a half dozen or so property in the pipe plus rentals.
does ilo make a single post anymore that isn't some veiled attempt to big up his race and prove his intrinsic self-worth.
it must suck to feel so confined and defined in turn by your skin colour. every post makes some reference to how well asians are doing.
it must suck to feel so confined and defined in turn by your skin colour. every post makes some reference to how well asians are doing.
Last edited by Uzique The Lesser (2013-07-03 09:47:28)
Fine. Details. My friend, of Mexican descent, is doing quite well flipping houses.
"And at the moment loads of people, notably from mainland China and South Korea, are buying home after home with cash".
ballin azns
ballin azns
Not ballin. Just the truth in SoCal.Uzique The Lesser wrote:
"And at the moment loads of people, notably from mainland China and South Korea, are buying home after home with cash".
ballin azns
Pissing me off actually. I prefer a down market since I don't flip.
$680 on a 600k mortgage? You are out of your damn mind.DrunkFace wrote:
I could buy a $600k 2 bed apartment, or rent the one next door for $620 per week. Mortgage repayments on 600k @5% are ~$680. $60 a week is a small price to pay to end up with a massive asset at the end of 25 years counted against having literally nothing.Jay wrote:
I pay about $1600 a month for a two bedroom apartment with a 30 minute commute to work. In order to get something even remotely equivalent space-wise (with a commute twice as long) I'll have to spend at least $400k minimum, which comes out to ~$1800 a month. Plus property tax. Plus homeowner's insurance. Plus time spent landscaping. Plus money spent doing maintenance and upgrades. Owning generally sucks a big fat one and is completely pointless unless you have kids.
Also your rent will continue to rise with inflation, your repayments wont and in real terms will go down, and your asset will continue to appreciate
Your minimum monthly mortgage payment on a $600k, 30 year loan at 5%, is $3220.93.
(600000*(0.05/12))/(1-e^(-360*ln(1+(0.05/12))))=3220.93
Last edited by Jay (2013-07-03 16:27:13)
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
ok, great. but you're roping yourself into an arrangement with the banks that is putatively going to take 25 years. monthly repayments.DrunkFace wrote:
I could buy a $600k 2 bed apartment, or rent the one next door for $620 per week. Mortgage repayments on 600k @5% are ~$680. $60 a week is a small price to pay to end up with a massive asset at the end of 25 years counted against having literally nothing.
i could (and might) get up and move to asia next month or the month after all i have to do is tell my landlord.
i could also move and work in any university, anywhere in the world, after getting my PhD. responding as instantly as the job offers, when and where they come. damn, renting is such a chore.
Last edited by Uzique The Lesser (2013-07-03 16:03:09)
he's talking per week but that's still more than $680Jay wrote:
$680 on a 600k mortgage? You are out of your damn mind.DrunkFace wrote:
I could buy a $600k 2 bed apartment, or rent the one next door for $620 per week. Mortgage repayments on 600k @5% are ~$680. $60 a week is a small price to pay to end up with a massive asset at the end of 25 years counted against having literally nothing.Jay wrote:
I pay about $1600 a month for a two bedroom apartment with a 30 minute commute to work. In order to get something even remotely equivalent space-wise (with a commute twice as long) I'll have to spend at least $400k minimum, which comes out to ~$1800 a month. Plus property tax. Plus homeowner's insurance. Plus time spent landscaping. Plus money spent doing maintenance and upgrades. Owning generally sucks a big fat one and is completely pointless unless you have kids.
Also your rent will continue to rise with inflation, your repayments wont and in real terms will go down, and your asset will continue to appreciate
Your minimum monthly mortgage payment on a $600k, 30 year loan at 5%, is $3220.93.
(600000*(0.05/12))/(1-e^(-360*ln(1+0.(0.05/12))))=3220.93
how the fuck is crows nest "out in the suburbs"Jaekus wrote:
Crows Nest is "out in the suburbs"?
lol
please explain drunkface
wait you made a high capital investment and only doubled your asset/income in 20 years? you know you could've done way better in the stock market right?Ilocano wrote:
Location location location and timing. Property I bought about 20 years ago leases easily at 2x original monthly mortgage.tuckergustav wrote:
It USED to be a more financially sound decision to buy a house since you could almost guarantee getting what you paid into it back if/when you decided to sell. It's not even remotely guaranteed anymore.
If you purchase property, it is only slightly guaranteed that you will break even if you are renting it out. So, the two smart decisions right now seem to be, renting a place and/or owning a rental property.
But, ownership for the sake of ownership isn't the smartest option at the moment.
And at the moment loads of people, notably from mainland China and South Korea, are buying home after home with cash. Can't speak for outside of SoCal though.
speaking of property and asians.
housing prices in taiwan has gone up to around 7-10k USD per square meter and 30% goes to "public use" so if you're buying a 300 square m apartment youre only getting 210m =.= and you're looking at aronud 800k-1.5m for a decent apartment
Funny thing a high rent place is around 1000USD a month when the avg monthly salary only being 1500USD
And there's ton of ilocono property genius' that purchase for "value" and rent it out. You're better off investing in the stock market.
I hope this trend of Chinese investment in the U.S. accelerates.Chinese buyers accounted for 18% of the $68.2 billion that foreigners spent on homes during the 12 months ended March 31, according to the National Association of Realtors.
At a median price of $425,000, the Chinese are also buying more expensive homes than other foreign buyers, who spent a median of nearly $276,000 on U.S. homes. And nearly 70% of those pricey Chinese deals were made in all cash.
Nowhere is the influx of Chinese homebuyers felt more strongly than in California, where more than half of the homes sold to foreign buyers went to Chinese nationals.
Related: 10 booming cities
Sally Forster Jones, an agent with Coldwell Banker International in Los Angeles, said Chinese are snapping up many of the trophy properties on the city's Westside. She estimates that she's sold about 10 multi-million dollar homes to Chinese nationals over the past 12 months.
"The uptick in sales to Chinese buyers started several years ago but it has increased dramatically lately," she said.
Most of her Chinese clients are wealthy industrialists or real estate tycoons, many of whom spend less than half the year in the States.
Why, so you can move there and marry a Chines girl?
The irony of guns, is that they can save lives.
How would rich people buying homes help me move to China? It would be great for our economy if China and other emerging markets started to invest in the U.S. International trade is good for peace too. If our economies were even more linked it would mean that the price of conflict between us and others would be higher and less attractive.
Free trade all the places
Free trade all the places