You are already underwater

You are already underwater.

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My brother bought a house for $860k about 4 months ago.

I can’t really make fun of him though, I lost money in crypto.

its honestly crazy how many for sale signs I"m seeing in my area all of a sudden this month. people are rushing to try to sell what they think is the top

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Exit from the cities I think. People are moving to smaller towns. Rural spots.

you have to lower your IQ to make money, if your IQ is too low you do not know what is going on but if it is too high you are like wow everything is so predictable 6 months before it happens its not actually going to happen everyone are not actually insects that fall for the same shit again

But I don't own a home (yet) because I'm young and came into the market in 2021 and knew this would happen.

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yup
housing market has already crashed
the hoomers are still living in blissful ignorance though

Yep, was losing bidding wars in 2020 then things went fucking nuts and houses jumped 120% in rural ontario. Starting to wind down now.

That happened to my small-ish town right when covid was hitting. Mass exodus from Toronto. We gained like 30% population in ~2 years. They brought a lot of annoying faggotry with them as well.

>bought a house in 2018
>mortgage rate is 2.75% for the next 29 years

nah bruh

>people are rushing to sell what they think is the top
But that is unironically what makes it the top, so they are sort of correct. It is the inflection point.

Hopefully home prices make an orderly retreat for a few years

>People are moving to smaller towns. Rural spots.
I'm all for this idea, but do people think that rural towns can suddenly handle the influx of millions of people having the same idea at the same time? Infrastructure will not be able to handle it. The only feasible way for mass exile from cities is if a big chunk of people decide to go abroad and let other random countries absorb the infrastructure toll, otherwise it will just no work no matter how much they try

Nah, my house barely lost any value. I bought it for $710k (cash + securities based loan, interest only perpetually). It's worth $850k, which is conservative because one of my neighbors sold for $1.1 million.

rent KEKS will never know the power of owning a house. they were born slaves and will die slaves KEK.

Yup, i was one of the people trying to buy, difference being that I grew up on a farm, want to go back to garden/rural lifestyle but got fucked by investors or work from home people inflating everything. I found a place in essa that was $320k and needed 70+k to be livable, went for over 600k

Your rate doesnt matter if the property value is below what you are paying for 30 years, probably changes three times in that timespan, doesnt matter to you if its for own use though

Congrats user
Are you basing it off Redfin or Zillow?

wow im sure you are adding 4000 a year into your 401k at that rate, gotta make sure to pay the commissions to your mutual fund manager as well so you can laugh at all of those slaves

It didnt even really start yet retard, lets have a look again in 2 years

It's higher on Redfin/Zillow, I'm basing it on an average of what my property value is assessed (usually way lower, what it was originally worth back in 2000, its a 20+ year old house) for property tax and what it was appraised for recently. Worst case I would sell it for 800k, or rent it out and take money out of it to buy property elsewhere.

Real estate is a good way to make money, because it will pay you a dividend every month. And the principal will always appreciate, due to a fixed supply of land. That's how my family wealth manager got rich, he would do multilmillion dollar commercial real estate deals. Right now it's hard to get into it, but I did research and Wells Fargo will give you a commercial loan of 80% LTV on a commercial property that's 80% occupied. Means you put down 20%, the loan is collateralized by the commerical property, and you can flip it for multi millions down the line. Doesn't have a personal guarantee btw, it just will fuck your business credit score over

>Starting to wind down now.
No they aren't
The first house I would've been able to afford had thousands of views and is accepting offers today, 5 days on the market
It's so fucking depressing living here
I make 100k a year in tech and can't afford to buy a fucking house for my family
I also can't afford to rent, the average 3-bedroom house I see for rent is between 2500-3000 a month which would be most of my income

Where will all those people who are selling live? Will they rent for 3000 Fedcoins per month instead of paying their 2% mortgage?

>securities based loan, interest only perpetually

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Yeah it's for 150k, which I have 75k in the bank for. Even if my portfolio went down 10x I would have enough to cover it if it ever got called early.

This. Things have only just begun. There are people who leveraged themselves and are getting fucked. There are companies that leveraged themselves and are getting fucked. Interest rates are only *starting* to rise. We will see 1-3 more increases in the next 12 months. People who stacked free cash from covid bucks are running out if they hadn't run out already. Companies are already instituting hiring and pay freezes.
Things will look a lot different a year from now and 2 years from now