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i am harry posted:why don’t we talk about what can actually be done with home equity because I’d like to know; house value increasing 50k since purchase doesn’t mean poo poo if all the other houses are doing the same. it’s not like any of us will sell and be able to move into a more expensive house for less money. if you have home equity, then when you get older and your health deteriorates capitalism will allow you to take out a reverse mortgage to pay for your exorbitant living costs for a few more years. if you don't, then you get to die in a ditch.
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Apr 24, 2022 16:31
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Homes being advertised as investment vehicles was a cool idea.
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Apr 24, 2022 16:32
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AnimeIsTrash posted:Homes being advertised as investment vehicles was a cool idea. and now that investment firms are involved, with shitloads of cheap government money, we can all profit! oh hey, where is all this inflation coming from?? sounds like its time to fight wage inflation
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Apr 24, 2022 16:38
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what resource would provide information of how much housing stock is bought up by capital vs bought up by people? is there some gov site that has aggregates? would that be listed with assessor data one by one?
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Apr 24, 2022 16:50
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Kreeblah posted:*phone rings* I used to get texts and calls asking if I was interested in selling my house, but they were calling me by my stepdad's name and trying to offer to buy my parents house lol
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Apr 24, 2022 16:52
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Zeroisanumber posted:Yeah, but you've got equity. You can take out loans against that to buy other stuff. i'm doing a small reno for my kitchen and bathroom because if I'm going to be stuck at home all the time I might as well enjoy it but this is like, 20k total. the average kitchen reno alone is like 35k
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Apr 24, 2022 16:54
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Archduke Frantz Fanon posted:yeah. a lot of the “affordable” cities on that list have seen single family houses go from the mid 100s to 300k in the past decade. its really the last gasp of housing affordability anywhere before even those prices enter the stratosphere yeah KC is #10 on that affordability list and my house (which I bought for $130k) is worth $220k. If my dad hadn't died I wouldn't have been able to afford a house ever lol lmao also this is 2 bed 1 bath house, about 900 sq ft, no basement. the back porch looks nice now though
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Apr 24, 2022 16:58
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livin the dream
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Zeroisanumber posted:Yeah, but you've got equity. You can take out loans against that to buy other stuff. I'm trying to get a small HELOC to fix our basement and the local credit union won't approve me because they think the value of my house has actually gone down since I bought it  Nevermind other houses on block being on sale for 5-10% more than what we paid a year ago. Just let me go into debt to you!AnimeIsTrash posted:Homes being advertised as investment vehicles was a cool idea. That part always grossed me out as a renter/prospective home buyer and it still grosses me out as a homeowner. This is shelter not a stock portfolio you weiners.
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Apr 24, 2022 17:00
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C-Euro posted:I'm trying to get a small HELOC to fix our basement and the local credit union won't approve me because they think the value of my house has actually gone down since I bought it let me tell you about my starter home that i bought so i could get on the property ladder
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Apr 24, 2022 17:02
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vyelkin posted:let me tell you about my starter home that i bought so i could get on the property ladder
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Apr 24, 2022 17:03
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vyelkin posted:let me tell you about my starter home that i bought so i could get on the property ladder Turn it into an Airbnb and sleep in a dumpster.
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Apr 24, 2022 17:24
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spacemang_spliff posted:I used to get texts and calls asking if I was interested in selling my house, but they were calling me by my stepdad's name and trying to offer to buy my parents house lol i keep getting them for the 2 unit row home i rented when i first moved to philly which i havent lived at for 6 years now
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Apr 24, 2022 17:31
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rents and mortgages should be higher
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Apr 24, 2022 17:50
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AnimeIsTrash posted:rents and mortgages should be higher Not mine. Please
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Apr 24, 2022 18:02
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AnimeIsTrash posted:rents and mortgages should be higher anime is good
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Apr 24, 2022 18:11
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Thing about houses is that you can have sex in them and cops won't arrest you like they will if you do it on the street.
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Apr 24, 2022 18:14
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AnimeIsTrash posted:rents and mortgages should be higher good news!
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Apr 24, 2022 18:41
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I read something like no wonder housing prices so high, like 80% of any given city is parking lots.
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Apr 24, 2022 18:46
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Archduke Frantz Fanon posted:i keep getting them for the 2 unit row home i rented when i first moved to philly Sell them that row home you don't own. Let them work out the actual ownership later, you have a check to cash.
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Apr 24, 2022 18:48
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Zeroisanumber posted:Thing about houses is that you can have sex in them and cops won't arrest you like they will if you do it on the street. why don't we massively inflate the housing market in the roooooooad
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Apr 24, 2022 18:53
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In Training posted:Not mine. Please especially yours
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Apr 24, 2022 19:01
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vyelkin posted:let me tell you about my starter home that i bought so i could get on the property ladder Lemme guess: it was bad.
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Apr 24, 2022 19:02
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Ornery and Hornery posted:what resource would provide information of how much housing stock is bought up by capital vs bought up by people? I don't think there is a good single source. You might have to do some digging on your own. Someone did make a website where you can track what properties are owned by who in NYC. https://twitter.com/patrickctyrrell/status/1516791414453063687
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Apr 24, 2022 19:03
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https://www.redfin.com/news/redfin-rental-report-march-2022/ Check out the median mortgage/rent chart towards the bottom of the page. Lol
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Apr 24, 2022 19:05
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BRAKE FOR MOOSE posted:I'm still dealing with the identity shock of being a lifelong marxist that graduated into the 2008 recession and that lived like I was totally broke for a decade regardless of how much I was making, to having the fortune to be able to buy a townhouse in early 2020 at 2.7% and watching the value skyrocket 25% Unless you buy three of them and become a landlord I wouldn't worry too much about it Vox Nihili has issued a correction as of 19:18 on Apr 24, 2022 |
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Apr 24, 2022 19:08
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AnimeIsTrash posted:Homes being advertised as investment vehicles was a cool idea. Really just the best idea I can't think of any downsides!
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Apr 24, 2022 19:09
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BRAKE FOR MOOSE posted:I'm still dealing with the identity shock of being a lifelong marxist that graduated into the 2008 recession and that lived like I was totally broke for a decade regardless of how much I was making, to having the fortune to be able to buy a townhouse in early 2020 at 2.7% and watching the value skyrocket 25% If you were a marxist you should know that the only thing that matters is your relation to Capital. Are you now a landlord? Then yes, you are a lib. If you own your own home, congrats you have achieved the bare minimum that all citizens would have under socialism.
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Apr 24, 2022 19:18
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BRAKE FOR MOOSE posted:I'm still dealing with the identity shock of being a lifelong marxist that graduated into the 2008 recession and that lived like I was totally broke for a decade regardless of how much I was making, to having the fortune to be able to buy a townhouse in early 2020 at 2.7% and watching the value skyrocket 25% there are millions of homes empty all over the planet, being rented out on a daily basis. securing one as permanent dwelling for yourself and family is not at all bending a knee to capitalism.
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Apr 24, 2022 19:21
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ate poo poo on live tv posted:If you were a marxist you should know that the only thing that matters is your relation to Capital. Are you now a landlord? Then yes, you are a lib. If you own your own home, congrats you have achieved the bare minimum that all citizens would have under socialism. come on cspam, it's like some of the very basics of Capital.
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Apr 24, 2022 19:22
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i am harry posted:there are millions of homes empty all over the planet, being rented out on a daily basis. securing one as permanent dwelling for yourself and family is not at all bending a knee to capitalism.
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Apr 24, 2022 19:32
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Xaris posted:this cf. private property vs. personal property
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Apr 24, 2022 19:36
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I love my CSPAM comrades
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Apr 24, 2022 19:50
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Communism will give me the nice house on the beach with a dock and a sailboat
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Apr 24, 2022 19:52
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2021 priced me out of the neighborhoods and homes I had been saving for so I took the cash I had and settled for something rural-ish and cheaper, locking in a 3.75% rate. The home’s value has already increased 10 percent since last September. The farther along we go into this housing crisis the more vindicated I feel for just getting something, and getting out of my landlord’s yoke. Also the mortgage payments are cheaper than rent and the house is over a third bigger than my rental was so lol. Now I just get to hope that : 1) President DeSantis/Trump/Whoever doesn’t just say gently caress it and confiscate everyone’s home so they can rent them back to their former owners (maybe a bit paranoid but doesn’t feel that far fetched anymore) 2) a new roof doesn’t cost 100 grand by the time I need one. 3) there is still a legal system to enforce my ownership of my home after the water wars start anyways I feel terrible for anyone who wants to own a home and doesn’t already have one or won’t have the means to buy one like, soon.
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Apr 24, 2022 22:24
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Kibbles n Shits posted:
Plus side, in the unlikely event this happens, you can just go take someone else's home. Or leave a pile of bodies on the lawn as a warning.
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Apr 24, 2022 23:41
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AnimeIsTrash posted:I don't think there is a good single source. You might have to do some digging on your own. Someone did make a website where you can track what properties are owned by who in NYC. this is my old landlord! who I have won a (couple million dollar!) class action judgment against that is being dragged into judicial purgatory! he also owns 326-338 E 100th St.
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Apr 25, 2022 00:21
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Investor brain: Did you buy a building of your own to landlord over with your settlement?
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Apr 25, 2022 00:28
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CRUSTY MINGE posted:Investor brain: Did you buy a building of your own to landlord over with your settlement? the class is several dozen people so maybe a building in like... gently caress i physically cannot think of a location that I could buy a building with $100k now
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Apr 25, 2022 00:34
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Gunshow Poophole posted:this is my old landlord! hot drat
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Apr 25, 2022 00:59
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Gunshow Poophole posted:the class is several dozen people so The midwest. poo poo, that's two houses in economically depressed farm towns, and here's an immediate example that's been listed long enough to have a price drop. https://www.zillow.com/homedetails/202-S-Front-St-Danforth-IL-60930/2067020478_zpid/ But then you'd have to move to the midwest. Already rented for $600/mo and $475/mo so you can jump right into landlording!* *Do not actually do this, do not move somewhere you'll hate for the housing prices. Though that county could use fresh blood, and you'll catch glances just being new to the area.
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Apr 25, 2022 01:30
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