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Why are the shit millennials here so scared of buying a house?

During the past month, there have been several threads with ...
Exciting state
  10/11/13
We have no money bro. Also, it does not make sense to amass ...
Cowardly trump supporter
  10/11/13
I know you are joking but your home is exempt
Cerebral Self-absorbed Orchestra Pit
  10/11/13
Yeah, this. If anything, it's a 180 reason *to* buy a house ...
Smoky jet-lagged travel guidebook
  10/11/13
But why get on the gen x bros about how they are stupid for ...
Exciting state
  10/11/13
Cuz are generation believes there's a good possibility thing...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
But most of the poasts I am referring to are very reasonable...
Exciting state
  10/11/13
I bet people who came of age during the great depression wer...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
hell yes they were, my grandfather would always horde dispos...
Razzle Fear-inspiring Temple
  10/11/13
yeah same w/ my grandpa. super conservative w/ any investmen...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
haha yes, sounds exactly like mine. i miss that guy
Razzle Fear-inspiring Temple
  10/11/13
mine is still around. 180 dude, brilliant dude and still ver...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
Incomes are going down.
talking location ladyboy
  10/11/13
a lot of millenials don't have the pay stubs/proof of a stea...
spruce kitchen
  10/11/13
What opportunity are you talking about? Prices are up huge a...
talking location ladyboy
  10/11/13
as an alternative to renting and as a savings vehicle it is ...
spruce kitchen
  10/11/13
The problem I have w/ buying a home is it's just such an und...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
true, very true. But if you live in a place for 2 years you ...
spruce kitchen
  10/11/13
Yeah. I just think it's a real consideration nowadays where ...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
it's a good way to get ahead man. Would you rather light ...
spruce kitchen
  10/11/13
If rent is considered wasted, what do you consider interest?
talking location ladyboy
  10/11/13
tax deductible.
spruce kitchen
  10/11/13
You're not trying to suggest that a tax deduction is the sam...
talking location ladyboy
  10/11/13
ok, even factoring in the economic cost of interest and excl...
spruce kitchen
  10/11/13
What about prop tax, insurance, hoas, trash, water and maint...
cerise cracking lay juggernaut
  10/11/13
I dunno man pick up a fucking hammer - as for HOA fee's fuck...
spruce kitchen
  10/11/13
Plus opportunity cost on interest forgoing on down payment. ...
cerise cracking lay juggernaut
  10/11/13
this is one of the dumbest things i've read in a bit.
charismatic indigo selfie field
  10/11/13
interest deduction is a joke and an excellent example of a s...
translucent heady spot
  10/11/13
i get the concept of building equity bro. but it's not that ...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
In a lot of cities, renting a decent place in a good neighbo...
Exciting state
  10/11/13
Nah. It's usually at least 20% more to service mortgage, not...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
You have to remember that a house is still primarily a place...
Histrionic maroon doctorate
  10/11/13
how much should you have to actually buy, though? would taki...
Arousing abusive rehab halford
  10/11/13
anything beyond a 30 year fixed I am extremely skeptical of....
spruce kitchen
  10/11/13
yeah, uh... like very few of us have enough money to put dow...
Arousing abusive rehab halford
  10/11/13
word. I'm not going to lie - my inkling is that if intere...
spruce kitchen
  10/11/13
In big cities the only millennials w/ enough money to put 20...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
man, i would have no idea where to come up with 40k. fucking...
Arousing abusive rehab halford
  10/11/13
A g at a time man - find some side hustle or find something ...
spruce kitchen
  10/11/13
what kinda side hustles man? i make $3700/month after tax. a...
Arousing abusive rehab halford
  10/11/13
if you are a good writer maybe do some shit on eLance, or ma...
spruce kitchen
  10/11/13
A lot of people have a spouse who works. It's not hard to sa...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
ya - I'd say that the best strategy is to buy a multi family...
spruce kitchen
  10/11/13
in big cities like SF/NY/LA/etc you can't really get much fo...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
dude you are dreaming about LA there is a TON of opportunity...
spruce kitchen
  10/11/13
$1 mill will get you some tiny ranch style home in mar vista...
Cerebral Self-absorbed Orchestra Pit
  10/11/13
FHA loans are fucking expensive. Don't get that shit unle...
talking location ladyboy
  10/11/13
your first comment is credited
Unholy thriller sex offender
  10/11/13
You can add Add shit credit too
Khaki wagecucks trailer park
  10/11/13
in the future everyone will have to move every ~5 years or s...
Citrine Clown
  10/11/13
They aver from going it alone in general. The purchase of a ...
electric windowlicker university
  10/11/13
I've been thinking this. there will be big changes in the fu...
Citrine Clown
  10/11/13
also this http://abcnews.go.com/Health/GMAHealth/california-...
Citrine Clown
  10/11/13
Because buying a house right now in most major cities is the...
cerise cracking lay juggernaut
  10/11/13
Tell me why this clear bubble matters if you are purchasing ...
Exciting state
  10/11/13
You move to much. House isn't flexible
Snowy Foreskin Whorehouse
  10/11/13
a primary residence is not that good of an investment. -...
Kink-friendly stirring hell
  10/11/13
Great. But why look at it as an investment? You need a place...
Exciting state
  10/11/13
(shitboomer who works in mid-tier market real estate)
Sinister Impressive Senate Water Buffalo
  10/11/13
late 80's child here can't wait to buy a house in the suburb...
cobalt casino dog poop
  10/11/13
Make more bank and live in the elite area within your city t...
Exciting state
  10/11/13
i've made to many ONE WRONG MOVEs in my life that i wont be ...
cobalt casino dog poop
  10/11/13
Nah, you're golden bro. You will get there.
Exciting state
  10/11/13
thanks breh
cobalt casino dog poop
  10/11/13
late 70s child here. let me tell you, its pretty 180. you ha...
Violent Lime Stage
  10/11/13
How low are your ceilings, out of curiosity? Do you have a ...
Primrose boyish ratface azn
  10/11/13
FYI you will have a hard time finding a home with a high eno...
Bateful maize preventive strike
  10/11/13
Because its a wash financially for most people who don't hav...
Floppy flesh athletic conference cruise ship
  10/11/13
A bunch of reasons. 1. No stable careers anymore. Houses...
Primrose boyish ratface azn
  10/11/13
CR.
Snowy Foreskin Whorehouse
  10/11/13
Put 10% down instead. Keep the rest of the cash as a cushion...
Exciting state
  10/11/13
Assumes you have great credit and will find a bank to suppor...
Primrose boyish ratface azn
  10/11/13
Absolutely CR. Nailed all the key points. #1 is really im...
lascivious lavender half-breed hunting ground
  10/11/13
...
jet party of the first part liquid oxygen
  10/11/13
Yep. None of the items to keep us grounded. Family, kids, ...
Primrose boyish ratface azn
  10/11/13
considering that rarely if ever do banks go after deficiency...
offensive menage
  10/11/13
bc nobody stays in the same place anymore; i guess you can s...
Bronze Domesticated Chapel
  10/11/13
Selling costs are too massive, and there's considerable risk...
Primrose boyish ratface azn
  10/11/13
This thread depresses me
bipolar twinkling uncleanness institution
  10/11/13
It should. Excluding 1-2% of our generation, the vast majori...
lascivious lavender half-breed hunting ground
  10/11/13
If you can call that "winning".
Primrose boyish ratface azn
  10/11/13
Does the opposite for me. If some of our best and brightest...
white adventurous alpha
  10/11/13
exactly
spruce kitchen
  10/11/13
(guy who can't wait for Cruz to run)
lascivious lavender half-breed hunting ground
  10/11/13
lol the burbs
Razzle Fear-inspiring Temple
  10/11/13
and if the burbs lol @ 0.75 acres.
Primrose boyish ratface azn
  10/11/13
Just received multiple proposal to replace a leaking, corrod...
Yapping blood rage
  10/11/13


Poast new message in this thread



Reply Favorite

Date: October 11th, 2013 1:03 AM
Author: Exciting state

During the past month, there have been several threads with 100+ poasts chock-full of poasters chiding bros for perfectly reasonable home purchase. Is this like the great rescission equivalent to our depression bros putting money under the mattress?

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210696)



Reply Favorite

Date: October 11th, 2013 1:04 AM
Author: Cowardly trump supporter

We have no money bro. Also, it does not make sense to amass assets that will be seized when the inevitable IBR tax bomb goes off.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210702)



Reply Favorite

Date: October 11th, 2013 1:07 AM
Author: Cerebral Self-absorbed Orchestra Pit

I know you are joking but your home is exempt

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210717)



Reply Favorite

Date: October 11th, 2013 1:37 AM
Author: Smoky jet-lagged travel guidebook

Yeah, this. If anything, it's a 180 reason *to* buy a house is to lock up some assets that *cannot* be seized.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210896)



Reply Favorite

Date: October 11th, 2013 1:07 AM
Author: Exciting state

But why get on the gen x bros about how they are stupid for buying a home? Is it a jealousy thing?

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210718)



Reply Favorite

Date: October 11th, 2013 1:06 AM
Author: Cerebral Self-absorbed Orchestra Pit

Cuz are generation believes there's a good possibility things will get worse, and are highly, highly skeptical that things will get better. So, buying a home that you can barely afford now seems like something dumb to do.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210712)



Reply Favorite

Date: October 11th, 2013 1:08 AM
Author: Exciting state

But most of the poasts I am referring to are very reasonable. One was like $500,000 when the dood made 250k. People were mad as fuck. Also, the one yesterday about the dood buying the 700k didn't seem to unreasonable at all.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210733)



Reply Favorite

Date: October 11th, 2013 1:09 AM
Author: Cerebral Self-absorbed Orchestra Pit

I bet people who came of age during the great depression were risk averse as fuck too

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210737)



Reply Favorite

Date: October 11th, 2013 1:10 AM
Author: Razzle Fear-inspiring Temple

hell yes they were, my grandfather would always horde disposable shit because he didn't like throwing shit away, etc

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210743)



Reply Favorite

Date: October 11th, 2013 1:12 AM
Author: Cerebral Self-absorbed Orchestra Pit

yeah same w/ my grandpa. super conservative w/ any investment, kept living in his tiny starter home even when he could afford a much nicer place, played golf w/ shitty 20 yr old golf clubs, tipped 10%, etc.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210758)



Reply Favorite

Date: October 11th, 2013 1:13 AM
Author: Razzle Fear-inspiring Temple

haha yes, sounds exactly like mine. i miss that guy

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210765)



Reply Favorite

Date: October 11th, 2013 1:23 AM
Author: Cerebral Self-absorbed Orchestra Pit

mine is still around. 180 dude, brilliant dude and still very sharp, aerospace engineer, but his memory is starting to go to shit.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210821)



Reply Favorite

Date: October 11th, 2013 1:13 AM
Author: talking location ladyboy

Incomes are going down.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210759)



Reply Favorite

Date: October 11th, 2013 1:13 AM
Author: spruce kitchen

a lot of millenials don't have the pay stubs/proof of a steady income because of their random tasks to earn money vs a steady job

others don't know how to spot an opportunity and cant understand how something that raped the wealth of their parents and grandparents (Real Estate "investing") is now attractive due to low mortgage rates.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210762)



Reply Favorite

Date: October 11th, 2013 1:15 AM
Author: talking location ladyboy

What opportunity are you talking about? Prices are up huge amounts since the bottom.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210777)



Reply Favorite

Date: October 11th, 2013 1:17 AM
Author: spruce kitchen

as an alternative to renting and as a savings vehicle it is still a justified investment, a fixed interest mortgage will also be able to help you combat inflation and depending if you buy a multifamily one you can also make some money on it.

Thats sort of like saying that prices are down since the absolute nadir in the stock market in 09 - except if you bought during 10, 11, or even 12 you would do well.



(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210791)



Reply Favorite

Date: October 11th, 2013 1:21 AM
Author: Cerebral Self-absorbed Orchestra Pit

The problem I have w/ buying a home is it's just such an undiversified investment. Any # of things could fuck you. Your area could experience a recession. Your neighborhood could turn to shit. And then it's not very liquid. If you want to move it's a huge pain in the ass selling it.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210811)



Reply Favorite

Date: October 11th, 2013 1:23 AM
Author: spruce kitchen

true, very true. But if you live in a place for 2 years you can take a capital gains deduction of up to 250k when you sell it - if the things cashflow positive you can also just put it under property management which shaves around 6% off the top - not bad to not have to deal with any shit and just get a check in the mail

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210820)



Reply Favorite

Date: October 11th, 2013 1:25 AM
Author: Cerebral Self-absorbed Orchestra Pit

Yeah. I just think it's a real consideration nowadays where people have to move every 2-3 years for work. I mean I see why people buy homes. I'm not against the idea. I just don't get why everyone acts like it's something you HAVE to do.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210829)



Reply Favorite

Date: October 11th, 2013 1:33 AM
Author: spruce kitchen

it's a good way to get ahead man.

Would you rather light 1,000 on fire every month or save it

That's the difference between renting and owning a home.

A lot of people purchased houses in the speculation times because they were going to flip them or thought they would appreciate significantly, but in reality you are going to come out ahead on many types of property if you just use it as a savings vehicle to build equity and sell it for what you paid, it will still build net worth.



(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210872)



Reply Favorite

Date: October 11th, 2013 1:40 AM
Author: talking location ladyboy

If rent is considered wasted, what do you consider interest?

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210907)



Reply Favorite

Date: October 11th, 2013 1:42 AM
Author: spruce kitchen

tax deductible.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210916)



Reply Favorite

Date: October 11th, 2013 1:44 AM
Author: talking location ladyboy

You're not trying to suggest that a tax deduction is the same as eliminating the cost of interest, are you?

That would be a really fucking stupid thing to say.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210924)



Reply Favorite

Date: October 11th, 2013 1:48 AM
Author: spruce kitchen

ok, even factoring in the economic cost of interest and excluding tax benefits - at the end of the day you are building equity in something VS totally wasting it on rent, even if a portion of it goes to interest - but look at the calculators they do for mortgages online - its not that much getting paid in interest.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210935)



Reply Favorite

Date: October 11th, 2013 1:52 AM
Author: cerise cracking lay juggernaut

What about prop tax, insurance, hoas, trash, water and maintance. All shit you don't pay when you rent and are "lighting on fire".

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210948)



Reply Favorite

Date: October 11th, 2013 2:01 AM
Author: spruce kitchen

I dunno man pick up a fucking hammer - as for HOA fee's fuck that im not buying a fucking condo or some gated community BS- with the water/trash you can pass those costs on to tenants and as for prop tax it depends on what state you live in, you gotta cook those into the projections.

I'm not advocating blundering into it heedlessly.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210969)



Reply Favorite

Date: October 11th, 2013 2:07 AM
Author: cerise cracking lay juggernaut

Plus opportunity cost on interest forgoing on down payment. Prices are gonna crash when rates go up.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210990)



Reply Favorite

Date: October 11th, 2013 1:31 PM
Author: charismatic indigo selfie field

this is one of the dumbest things i've read in a bit.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212821)



Reply Favorite

Date: October 11th, 2013 4:35 AM
Author: translucent heady spot

interest deduction is a joke and an excellent example of a shitboomer scam. it really only makes a noticeable difference compared to the standard deduction if you buy an expensive house

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24211304)



Reply Favorite

Date: October 11th, 2013 1:50 AM
Author: Cerebral Self-absorbed Orchestra Pit

i get the concept of building equity bro. but it's not that simple. if you rent you get to keep a huge pile of cash and do something else with it, like invest in shit that is more diversified and more liquid. the cost of rent is the price you pay for that flexibility.

p.s. the whole deducting interest shit and everything else is built into the price of homes. that's why they are so fucking expensive.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210940)



Reply Favorite

Date: October 11th, 2013 12:48 PM
Author: Exciting state

In a lot of cities, renting a decent place in a good neighborhood will run you about the same as the fucking mortgage. Obviously, if you don't have wife and babby then you can rent an apartment.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212554)



Reply Favorite

Date: October 11th, 2013 12:57 PM
Author: Cerebral Self-absorbed Orchestra Pit

Nah. It's usually at least 20% more to service mortgage, not to mention property taxes and any HOA fees.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212607)



Reply Favorite

Date: October 11th, 2013 1:52 AM
Author: Histrionic maroon doctorate

You have to remember that a house is still primarily a place for you to live and not an investment. You are going to have to pay to live somewhere one way or another. The investment aspects give it an advantage over renting.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210946)



Reply Favorite

Date: October 11th, 2013 1:18 AM
Author: Arousing abusive rehab halford

how much should you have to actually buy, though? would taking out an fha loan be stupid?

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210793)



Reply Favorite

Date: October 11th, 2013 1:22 AM
Author: spruce kitchen

anything beyond a 30 year fixed I am extremely skeptical of. Also I'm not talking about doing stupid shit like putting 5, or 10 or 15% down - you need to do the traditional 20% - thats still 5 to 1 leverage on your money.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210813)



Reply Favorite

Date: October 11th, 2013 1:23 AM
Author: Arousing abusive rehab halford

yeah, uh... like very few of us have enough money to put down 20%. maybe the top 1%.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210818)



Reply Favorite

Date: October 11th, 2013 1:26 AM
Author: spruce kitchen

word.

I'm not going to lie - my inkling is that if interests rise in the future, soon our generation will have zero chance of owning a home for a very long while given the taxes of obamacare and inflation etc.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210833)



Reply Favorite

Date: October 11th, 2013 1:28 AM
Author: Cerebral Self-absorbed Orchestra Pit

In big cities the only millennials w/ enough money to put 20% down are kids who got an inheritance or something. Almost no one has 200-300k to put down in their 20s or early 30s.

But there are plenty of secondary cities where you can legit buy a nice home for 250k still. It's not too hard to come up with 40-50k.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210839)



Reply Favorite

Date: October 11th, 2013 1:30 AM
Author: Arousing abusive rehab halford

man, i would have no idea where to come up with 40k. fucking sucks being poor/of poors.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210850)



Reply Favorite

Date: October 11th, 2013 1:31 AM
Author: spruce kitchen

A g at a time man - find some side hustle or find something you can do on the side to get money.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210855)



Reply Favorite

Date: October 11th, 2013 1:33 AM
Author: Arousing abusive rehab halford

what kinda side hustles man? i make $3700/month after tax. after rent and bills and loans (starting in january), i save like $400/month.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210869)



Reply Favorite

Date: October 11th, 2013 1:34 AM
Author: spruce kitchen

if you are a good writer maybe do some shit on eLance, or maybe even some part time shit on the weekends if possible - or like at least one pumo on this thread, sell yo' plasma.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210878)



Reply Favorite

Date: October 11th, 2013 1:35 AM
Author: Cerebral Self-absorbed Orchestra Pit

A lot of people have a spouse who works. It's not hard to save 40k with 2 incomes. You typically can live on one income and save a ton of the second income.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210880)



Reply Favorite

Date: October 11th, 2013 1:30 AM
Author: spruce kitchen

ya - I'd say that the best strategy is to buy a multi family property in a secondary city, live in it for a few years, and then rent it out and use the cashflow to purchase another house.

Also 200K as a down payment buys you a million dollars worth of house - in my opinion thats an unreasonable amount to spend at this age if you are not married and are single.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210851)



Reply Favorite

Date: October 11th, 2013 1:36 AM
Author: Cerebral Self-absorbed Orchestra Pit

in big cities like SF/NY/LA/etc you can't really get much for less than a million. maybe 900k.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210891)



Reply Favorite

Date: October 11th, 2013 1:39 AM
Author: spruce kitchen

dude you are dreaming about LA there is a TON of opportunity around there.

as for NY - ya your FUKT

SF also FUKT - thats the one place where I would not want to buy any real estate because I think that prices are due to collapse when there is an earthquake - there are places near the city though that aren't that bad. like the Peninsula, South and East bay.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210902)



Reply Favorite

Date: October 11th, 2013 1:54 AM
Author: Cerebral Self-absorbed Orchestra Pit

$1 mill will get you some tiny ranch style home in mar vista in LA. it's pathetic. unless you want to live in some really shitty area (yeah, there are a lot of them in LA) then no, there really isn't much for less than 900k to 1 mill.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210953)



Reply Favorite

Date: October 11th, 2013 1:41 AM
Author: talking location ladyboy

FHA loans are fucking expensive.

Don't get that shit unless you're a poor who can't save even a tiny down payment.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210912)



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Date: October 11th, 2013 2:31 AM
Author: Unholy thriller sex offender

your first comment is credited

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24211066)



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Date: October 11th, 2013 2:35 AM
Author: Khaki wagecucks trailer park

You can add Add shit credit too

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24211077)



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Date: October 11th, 2013 1:24 AM
Author: Citrine Clown

in the future everyone will have to move every ~5 years or so to a new job. too many fees and shit

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210822)



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Date: October 11th, 2013 1:43 AM
Author: electric windowlicker university

They aver from going it alone in general. The purchase of a house is a huge, singular commitment. They thrive on "working in teams."

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210920)



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Date: October 11th, 2013 1:56 AM
Author: Citrine Clown

I've been thinking this. there will be big changes in the future in how people view communal living. potentially intersecting with changing views of education but not necessarily

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210958)



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Date: October 11th, 2013 1:57 AM
Author: Citrine Clown

also this http://abcnews.go.com/Health/GMAHealth/california-considers-bill-multiple-legal-parents/story?id=16705628

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210961)



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Date: October 11th, 2013 1:45 AM
Author: cerise cracking lay juggernaut

Because buying a house right now in most major cities is the stupidest fucking thing you can do. Were clearly in another bubble. The economy is still shit and housing in most major cities is near the height of the '05-'08 bubble. A crash is inevitable, not to mention wasted money on prop tax, interest, insurance, maintance and other shit when you buy

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210930)



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Date: October 11th, 2013 12:36 PM
Author: Exciting state

Tell me why this clear bubble matters if you are purchasing a home you can afford with a 15 or 30 year fixed mortgage?

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212478)



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Date: October 11th, 2013 1:51 AM
Author: Snowy Foreskin Whorehouse

You move to much. House isn't flexible

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24210943)



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Date: October 11th, 2013 4:05 AM
Author: Kink-friendly stirring hell

a primary residence is not that good of an investment.

-you only reap the benefits of appreciation when you sell.

-it confines you to one city and makes it difficult to pursue job offers in other cities.

-a huge mortgage hanging over your head for decades is not a good feeling.

-someone buying a 700k house will probably end up paying $10k+ a yr in property taxes (which offsets a good percentage of the appreciation gains).



(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24211240)



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Date: October 11th, 2013 12:35 PM
Author: Exciting state

Great. But why look at it as an investment? You need a place to live. Spend $2k to $3k on rent or spend $3k plus taxes and insurance on a house you own. The $3k toward a house doesn't completely disappear like the rental payment. Plus you will likely swing some federal tax relief from mortgage interest or state pt payment from home ownership.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212473)



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Date: October 11th, 2013 4:27 AM
Author: Sinister Impressive Senate Water Buffalo

(shitboomer who works in mid-tier market real estate)

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24211290)



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Date: October 11th, 2013 12:36 PM
Author: cobalt casino dog poop

late 80's child here can't wait to buy a house in the suburbs and commute to work

def want a basement so i cant have a home gym

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212476)



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Date: October 11th, 2013 12:37 PM
Author: Exciting state

Make more bank and live in the elite area within your city to avoid the commute.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212483)



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Date: October 11th, 2013 12:39 PM
Author: cobalt casino dog poop

i've made to many ONE WRONG MOVEs in my life that i wont be pushing six figures in salary anytime soon

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212492)



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Date: October 11th, 2013 12:44 PM
Author: Exciting state

Nah, you're golden bro. You will get there.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212527)



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Date: October 11th, 2013 12:45 PM
Author: cobalt casino dog poop

thanks breh

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212538)



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Date: October 11th, 2013 12:43 PM
Author: Violent Lime Stage

late 70s child here. let me tell you, its pretty 180. you have a lot to look forward to

although my basement is kinda SPS and is too low to use it for anything other than storage

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212519)



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Date: October 11th, 2013 12:53 PM
Author: Primrose boyish ratface azn

How low are your ceilings, out of curiosity? Do you have a row house?

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212576)



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Date: October 11th, 2013 12:54 PM
Author: Bateful maize preventive strike

FYI you will have a hard time finding a home with a high enough ceiling in the basement for a power rack.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212581)



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Date: October 11th, 2013 12:47 PM
Author: Floppy flesh athletic conference cruise ship

Because its a wash financially for most people who don't have huge bank accounts. Everyone else is just succumbing to lobbying and marketing pressure to buy.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212543)



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Date: October 11th, 2013 12:51 PM
Author: Primrose boyish ratface azn

A bunch of reasons.

1. No stable careers anymore. Houses made more sense when everyone worked for a single employer for decades. Now you might get laid off and end up moving to a new city in a few months.

2. No one gets married/has kids anymore. So that decreases the primary reason to buy in the burbs. In the city prices are insane and usually have nonsense like condo fees.

3. Related to 1, no one has money sitting around for down payment. 20% on $500k means $100k cash. LOL @ ARE generation having that. That doesn't even include closing costs. And no one in their right mind is going to leave themselves in a new house with no savings. So realistically, you need $150k to buy a $500k house/condo. You can do FHA or lower percentage down if you have great credit, but that has higher fees.

4. Hard to see property values massively appreciating at this point. They just don't have far up to go given the economic situation.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212569)



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Date: October 11th, 2013 1:21 PM
Author: Snowy Foreskin Whorehouse

CR.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212760)



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Date: October 11th, 2013 1:43 PM
Author: Exciting state

Put 10% down instead. Keep the rest of the cash as a cushion. The difference in actual mortgage payment isn't that great. I realize you will get interest owned a bit more, but rates are low breh.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212899)



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Date: October 11th, 2013 8:31 PM
Author: Primrose boyish ratface azn

Assumes you have great credit and will find a bank to support that.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24215765)



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Date: October 11th, 2013 4:45 PM
Author: lascivious lavender half-breed hunting ground

Absolutely CR. Nailed all the key points.

#1 is really important. We have to be able to move at a moment's notice for any sort of employment. Rootless cosmopolitanism.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214281)



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Date: October 11th, 2013 4:57 PM
Author: jet party of the first part liquid oxygen



(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214360)



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Date: October 11th, 2013 8:32 PM
Author: Primrose boyish ratface azn

Yep. None of the items to keep us grounded. Family, kids, career. Instead we are basically all temporary employees with temporary relationships to people.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24215774)



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Date: October 11th, 2013 12:52 PM
Author: offensive menage

considering that rarely if ever do banks go after deficiency judgments, i say WHY THE FUCK NOT

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212573)



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Date: October 11th, 2013 1:32 PM
Author: Bronze Domesticated Chapel

bc nobody stays in the same place anymore; i guess you can sell your home every few years but seems like a huge hassle

people get divorced

jobs arent stable

home prices are to high

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24212830)



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Date: October 11th, 2013 8:34 PM
Author: Primrose boyish ratface azn

Selling costs are too massive, and there's considerable risk. Imagine trying to move to a new place, rent an apartment all while trying to sell an old house where you're still on the hook for mortgage payments. In situations like that the house is just a massive liability. Buying ONLY makes sense if you expect to be in the same place for a large number of years.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24215788)



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Date: October 11th, 2013 4:42 PM
Author: bipolar twinkling uncleanness institution

This thread depresses me

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214260)



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Date: October 11th, 2013 4:47 PM
Author: lascivious lavender half-breed hunting ground

It should. Excluding 1-2% of our generation, the vast majority of people should learn to become very happy living in a small studio and not having families/children. If you can do that, then you can still win in America.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214296)



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Date: October 11th, 2013 8:35 PM
Author: Primrose boyish ratface azn

If you can call that "winning".

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24215790)



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Date: October 11th, 2013 4:48 PM
Author: white adventurous alpha

Does the opposite for me. If some of our best and brightest are this pathetic I will have no issue coming out way ahead. The fact that I'm 28 and have a 2700 sq. ft house in the burbs on .75 acres that, according to Zillow and recent comparables, I already have 100K in equity after putting 10% down, means I'm already ahead of where most of these fags will be in 20 years.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214302)



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Date: October 11th, 2013 4:57 PM
Author: spruce kitchen

exactly

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214370)



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Date: October 11th, 2013 5:01 PM
Author: lascivious lavender half-breed hunting ground

(guy who can't wait for Cruz to run)

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214401)



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Date: October 11th, 2013 8:34 PM
Author: Razzle Fear-inspiring Temple

lol the burbs

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24215785)



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Date: October 11th, 2013 8:35 PM
Author: Primrose boyish ratface azn

and if the burbs lol @ 0.75 acres.

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24215798)



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Date: October 11th, 2013 4:47 PM
Author: Yapping blood rage

Just received multiple proposal to replace a leaking, corroded stack in my house going to a second story bathroom: $8,000 to $11,000, and I still need to get bids to repair the walls after the plumber is done. LOL!

(http://www.autoadmit.com/thread.php?thread_id=2384282&forum_id=2#24214301)