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Bar Ran Dun posted:I know all that. Global capital hunting for returns like a truffle pig mostly
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# ? Sep 25, 2022 03:30 |
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# ? May 25, 2024 03:44 |
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sonatinas posted:can any Canadians advise on how the hell people can afford homes there? it’s tough here in the states but I’m sure wages aren’t that much higher up there for homes 2x the value. be old and buy decades ago before the prices go up
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# ? Sep 25, 2022 04:50 |
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I just looked up the 'rent vs buy' calculator for the place my family is renting *right now* in the LA burbs (4k a month) and it'd never be worth buying the place at current prices/rates. How is this even considered a good investment?
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# ? Sep 26, 2022 01:49 |
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Joey Steel posted:I just looked up the 'rent vs buy' calculator for the place my family is renting *right now* in the LA burbs (4k a month) and it'd never be worth buying the place at current prices/rates. Because money you pay to a landlord is simply gone forever but money you pay to a mortgage may be returned to you when you sell the house. You might even make money on it.
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# ? Sep 26, 2022 01:57 |
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4 grand a month is probably on the cheaper side for a house in suburban LA these days, as insane as that sounds
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# ? Sep 26, 2022 01:58 |
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https://www.youtube.com/watch?v=m1m7WmKJZyQ
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# ? Sep 26, 2022 02:30 |
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YOLOsubmarine posted:Because money you pay to a landlord is simply gone forever but money you pay to a mortgage may be returned to you when you sell the house. You might even make money on it. Even with that in the calculator, it's still not worth it. the extra 4 grand a month could be tossed into securities with a low yield and still come out in favor of renting. I can't imagine how this situation can last. bawfuls posted:4 grand a month is probably on the cheaper side for a house in suburban LA these days, as insane as that sounds Which is kinda weird, it's a fairly nice place in Walnut, where the 'good schools' are for the area.
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# ? Sep 26, 2022 04:17 |
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Joey Steel posted:I just looked up the 'rent vs buy' calculator for the place my family is renting *right now* in the LA burbs (4k a month) and it'd never be worth buying the place at current prices/rates. Renting doesn't give them $1,000,000 when they move in 10 years.
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# ? Sep 26, 2022 04:54 |
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Joey Steel posted:I just looked up the 'rent vs buy' calculator for the place my family is renting *right now* in the LA burbs (4k a month) and it'd never be worth buying the place at current prices/rates. Depends a lot on the variables, but if it's not mortgaged (or minimally so) that can shift the numbers a lot. Broadly speaking though you're right. Compared to taking your money and buying stocks it is almost never a better deal deal to buy and you'd be better off just buying a REIT or stock portfolio. Thing is, it's easier to get millions of dollars lent to you from a bank to buy a property than it is to buy stock. On an individual level it's a totally academic exercise because most renters aren't taking the difference between their rent and what their mortgage would be otherwise and investing it. They're saving up for a down payment so that they can eliminate housing insecurity and unwanted power relationships in their personal lives (as well as gain class privileges). There's an additional economic benefit in that you get the forced savings from paying down the mortgage + some appreciation + tax benefits + an asset you can leverage for other loans. That's not totally captured in the rent/buy calculators.
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# ? Sep 26, 2022 07:58 |
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Joey Steel posted:Even with that in the calculator, it's still not worth it. the extra 4 grand a month could be tossed into securities with a low yield and still come out in favor of renting. I can't imagine how this situation can last. These calculators have assumptions about real estate appreciation that are not always true. Nerdwallet's calculator, for example, is set to 3%. Probably reasonable in normal times in many markets, but certain not the case in LA.
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# ? Sep 26, 2022 08:01 |
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Yeah in some ways I suppose a mortgage could be seen as a common and accessible form of financial leverage, or you could consider property to be a good thing to invest in during market downturns and plan to refinance later if you want to move the money into stocks. Or you could consider property to be a thing you live in and you want the stability knowing there are fewer ways you could be kicked out onto the street based on somebody else's whim vs. renting, especially if you have kids or a pet.
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# ? Sep 26, 2022 09:34 |
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Does anyone know anything about the Neighborhood Assistance Corporation of America? My wife is considering a position with them but can't work out if the results match up to the rhetoric
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# ? Sep 26, 2022 11:11 |
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YOLOsubmarine posted:Because money you pay to a landlord is simply gone forever but money you pay to a mortgage may be returned to you when you sell the house. You might even make money on it. Yup, also your mortgage payment stays constant and your bank cant decide to sell the place and kick you out like with a rental renting has its pluses in the short term but it was stressful for me around lease renewal time every year to wonder "will she increase rent this year". Now that's been replaced with the stress of "will a major mechanical system poo poo the bed at an inopportune moment"
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# ? Sep 26, 2022 12:10 |
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Blackhawk posted:Yeah in some ways I suppose a mortgage could be seen as a common and accessible form of financial leverage, or you could consider property to be a good thing to invest in during market downturns and plan to refinance later if you want to move the money into stocks. yeah this. I assume my house will appreciate but if not whatever, i like living here and it was a good value at the time (and i still think it is!!)
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# ? Sep 26, 2022 12:12 |
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I’d still almost rather rent somewhere with solid tenants rights than own, which is basically impossible in America these days. Couldn’t you basically inherit rent controlled apartments in NYC back in the day? I remember reading about olds with unbelievably nice flats in Manhattan and apparently a good chunk of them were passed down from nonna?
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# ? Sep 26, 2022 12:35 |
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I really like the rent vs buy calculators because they've always suggested to not buy a house and I've avoided a lot of yardwork as a result.joepinetree posted:These calculators have assumptions about real estate appreciation that are not always true. Nerdwallet's calculator, for example, is set to 3%. Probably reasonable in normal times in many markets, but certain not the case in LA. El Mero Mero posted:Depends a lot on the variables, but if it's not mortgaged (or minimally so) that can shift the numbers a lot. Broadly speaking though you're right. Compared to taking your money and buying stocks it is almost never a better deal deal to buy and you'd be better off just buying a REIT or stock portfolio. Blackhawk posted:Yeah in some ways I suppose a mortgage could be seen as a common and accessible form of financial leverage, or you could consider property to be a good thing to invest in during market downturns and plan to refinance later if you want to move the money into stocks.
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# ? Sep 26, 2022 12:55 |
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Joey Steel posted:Even with that in the calculator, it's still not worth it. the extra 4 grand a month could be tossed into securities with a low yield and still come out in favor of renting. I can't imagine how this situation can last. People need a place to live, oddly enough
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# ? Sep 26, 2022 14:22 |
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the thing about discussing housing globally is that the US is one of the few markets where you can get a fixed long term mortgage in most markets, the closest you can get to that is fixed for a couple years then floating so rising rates is going to gently caress over non Americans mostly
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# ? Sep 26, 2022 15:02 |
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here's commercial landlords bitching about wfh New York City’s Empty Offices Reveal a Global Property Dilemma The rise of remote work will hurt older buildings, leaving landlords in the lurch some highlights: quote:In some cases, companies are simply cutting back on space to reduce their real estate costs. Others are relocating to shiny new towers with top-of-the-line amenities to attract talent and employees who may be reluctant to leave the comforts of working from home. Left behind are older buildings outside of prime locations. quote:The obvious solution to lower office demand in a city straining for affordable housing may seem to be converting the buildings into apartments. There’s precedent: After the Sept. 11, 2001, attacks and the 2008 global financial crisis, many offices in lower Manhattan were turned into luxury condominiums or rental buildings. quote:But the longer-term shifts in work habits still loom, and it matters to more than just building owners. New York, like other cities, relies heavily on property taxes to fund schools, police and firefighters, as well as other services. Property taxes are the biggest source of revenue for the city, delivering about $1 out of every $3 taken in. And offices account for about a fifth of that. give us money also go back to the office to support downtown lunch places also you can't afford a house no we can't build more
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# ? Sep 26, 2022 20:39 |
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H.P. Hovercraft posted:here's commercial landlords bitching about wfh Boy howdy, that creative destruction sure is great when it is coming for other people's incomes and not my own.
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# ? Sep 26, 2022 21:02 |
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No investment guarantees a return regardless of market conditions, except mine!
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# ? Sep 26, 2022 21:06 |
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Noooooo STOP BUying houses you really cant comprehend how much money you spend on repairs......... like , what if your fridge breaks? Thats why landlords exist. They get free repairs, for free, and can then give you a taste of that power in exchange for rent. Seems like a pretty useful service to me.
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# ? Sep 26, 2022 22:03 |
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iCe-CuBe. posted:Noooooo STOP BUying houses you really cant comprehend how much money you spend on repairs......... like , what if your fridge breaks? Thats why landlords exist. They get free repairs, for free, and can then give you a taste of that power in exchange for rent. Seems like a pretty useful service to me. the new thing in leases is apparently requiring tenants to pay for new appliances and poo poo. Since your refrigerator has a finite life, if you're the unlucky tenant who's occupying the unit when it breaks, gg, you just bought the landlord a new refrigerator. There was a refrigerator in the unit when you moved in, after all, even if it was five years outside of it's operational life.
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# ? Sep 27, 2022 15:28 |
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God drat some of you are getting hosed on rent. Gonna go hug the manager of the non-profit ran property I'm at since my rent only went up $50 this year and will only go up $50 next year.
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# ? Sep 27, 2022 15:50 |
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you are still getting hosed on rent, you just appreciate it for some reason
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# ? Sep 27, 2022 15:51 |
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indigi posted:you are still getting hosed on rent, you just appreciate it for some reason Yeah, I appreciate that it's a 2 bedroom for less than $1k/mo and they pay the gas bill because we have radiant floor heat fed by a boiler. Even after next year's hike it will still be under $1k/mo. So yeah, kinda getting hosed but I don't pay gas, water, trash, etc separately.
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# ? Sep 27, 2022 15:54 |
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I would like a two bed for $1k I would like housing
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# ? Sep 27, 2022 15:58 |
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The same nonprofit that runs my apartment complex runs another with 1beds for $750/mo. But you've got to live out here 90 minutes from an interstate and 2 hours from a city. Works for me, definitely not for everyone though.
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# ? Sep 27, 2022 16:01 |
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rents should be more expensive especially if you live in a major city
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# ? Sep 27, 2022 16:03 |
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Would you like a $100k house on 40 acres that needs minimum $50k of work? There's no grid power out there, internet is transmitter, and the well water smells like sulfur. E: also lots of coyotes.
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# ? Sep 27, 2022 16:05 |
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CRUSTY MINGE posted:Would you like a $100k house on 40 acres that needs minimum $50k of work? don't you live out in the middle of the high plains desert wastes? how do you work out there?
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# ? Sep 27, 2022 16:16 |
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Thesaurus posted:don't you live out in the middle of the high plains desert wastes? He's a coyote hunter
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# ? Sep 27, 2022 16:20 |
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Thesaurus posted:don't you live out in the middle of the high plains desert wastes? Someone has to make meth
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# ? Sep 27, 2022 17:07 |
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AnimeIsTrash posted:rents should be more expensive especially if you live in a major city more expensive than they are currently or more expensive than rural areas
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# ? Sep 27, 2022 17:09 |
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Thesaurus posted:don't you live out in the middle of the high plains desert wastes? Southern Colorado, San Luis Valley. There are jobs, and there's fiber around. If you WFH, it's cheap. There are likely more cows than people here, but we have a hospital, small university, a walmart, kroger, safeway, walgreens, fast food, etc, just limited selections. Schools are hiring, everyone is hiring. There's a house at the north end of the valley that's just 2 sheds butted together and brought up to code for living in. $90k on an acre and change. That's pretty remote. Like there might be a dollar general and gas station in 15 minutes drive. Also it likes to dip to the -30s in the winter nights, but the entire valley is up for Dark Sky International certification. Gives you an idea of how empty it is out here. A Bakers Cousin posted:Someone has to make meth That was one of my cousins in a rural Illinois county. I went the weed route for a while. CRUSTY MINGE has issued a correction as of 17:16 on Sep 27, 2022 |
# ? Sep 27, 2022 17:14 |
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being able to see stars again for the first time at night in like my whole life is pretty awesome
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# ? Sep 27, 2022 17:23 |
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Probably should have said beforehand, the valley is a weird loving place. Linda Moulton Howe (Ancient Aliens) got her big break in the 70s reporting animal mutilations out here. As such, there's a big UFO community vibe. Lots of people living in 50 year old trailers miles away from town. A lot of alternative religion types out in Crestone. There's an alligator preserve. The great sand dunes. The San Juans and Sangre de Cristos. Wetlands, farms, hot springs (one with clothing optional days), forests and a desert. Land tends to be cheap here because of the climate, location, and how useless a lot of it is in the central part of the valley. You can get land here for less than $1k/acre in some parts, but for $2k/acre you get into decent area where water is less than 10 feet down right now. Most of the people I've met here are fine. Small town neighborly vibe with a lot, but we have our fair share of meth and fentanyl people. The cold winters drive a lot of people away.
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# ? Sep 27, 2022 17:37 |
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CRUSTY MINGE posted:Probably should have said beforehand, the valley is a weird loving place. Linda Moulton Howe (Ancient Aliens) got her big break in the 70s reporting animal mutilations out here. As such, there's a big UFO community vibe. Lots of people living in 50 year old trailers miles away from town. A lot of alternative religion types out in Crestone. There's an alligator preserve. The great sand dunes. The San Juans and Sangre de Cristos. Wetlands, farms, hot springs (one with clothing optional days), forests and a desert. Looks like there's a Dairy Queen AND a Sonic there
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# ? Sep 27, 2022 17:38 |
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Demon Of The Fall posted:being able to see stars again for the first time at night in like my whole life is pretty awesome It’s pretty amazing when you get somewhere dark and clear enough to see the whole spread. Just phenomenal. When I went to Hawaii’s big island and transversed the saddle road at 1am I couldn’t help but just stop on the side of the road and stare. It really is like the high quality night sky photos when you’re somewhere like that
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# ? Sep 27, 2022 17:40 |
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# ? May 25, 2024 03:44 |
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this is what brick is supposed to look like no problems there
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# ? Sep 27, 2022 17:40 |