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Chat Thread: biff brings board balance

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Is that annual rent? In other words, 2k/month = 24k/year :: 360k value?
 
RJKarl said:
Lower priced homes have rarely been in the most desirable places to live. There's nothing new or odd about that.
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What I'm hearing from this is:

(1) Millennials aren't market savvy enough to sell their own home;

(2) Millennials aren't willing to DIY repairs on their homes to improve the value;

(3) Millennials aren't wililng to DIY repairs on their homes to adequately maintain them; and

(4) Millennials don't want to stoop to such a low as to purchase an entry level home in order to effectively build equity.

So, they come up with the "muh student loans" excuse.

Horseshit. It's the fucking age of the Internet. Watch a Youtube video and get it done.
 
Grabs Turds Bare said:
What I'm hearing from this is:

(1) Millennials aren't market savvy enough to sell their own home;

(2) Millennials aren't willing to DIY repairs on their homes to improve the value;

(3) Millennials aren't wililng to DIY repairs on their homes to adequately maintain them; and

(4) Millennials don't want to stoop to such a low as to purchase an entry level home in order to effectively build equity.

So, they come up with the "muh student loans" excuse.

Horseshit. It's the fucking age of the Internet. Watch a Youtube video and get it done.
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We already have a Brasky
 
Grabs Turds Bare said:
What I'm hearing from this is:

(1) Millennials aren't market savvy enough to sell their own home;

(2) Millennials aren't willing to DIY repairs on their homes to improve the value;

(3) Millennials aren't wililng to DIY repairs on their homes to adequately maintain them; and

(4) Millennials don't want to stoop to such a low as to purchase an entry level home in order to effectively build equity.

So, they come up with the "muh student loans" excuse.

Horseshit. It's the fucking age of the Internet. Watch a Youtube video and get it done.
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Credit to the FiRE movement for bucking this trend, btw. Credit where it's due.
 
palmab03 said:
This describes it pretty well.

0-15 is low
16-20 is moderate
21 + is high

https://rentberry.com/blog/price-to-rent-by-city

So like rather than buy a house in LA, apparently I should rent one here, and invest in rental property in some city where I have friends nearby like Syracuse or Wilwaukee
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That article is objectively retarded. The example they give for Phoenix, AZ is asinine. Price to rent is a valuable metric, but it has to be way more granular than a whole fucking metropolitan area. Given the diversity of real estate in that geographic region, the broad metric in the example is meaningless.
 
Also, craft beer is crazy expensive compared to the beer the Boomers and Gen X grew up drinking.
 
Grabs Turds Bare said:
It's allowed to be a real thing without being an excuse. It's a reality. There are programs to deal with it. REPAYE, IBR, etc.
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Is your hot take that student debt is just an excuse for not taking on additional debt? Or is it that no one should have significant amounts of student debt and should use one of those programs to “deal with it?”
 
if i learned anything from 2008 it's that there's no amount of personal or commercial debt that is enough for gen x/boomers
 
palmab03 said:
This describes it pretty well.

0-15 is low
16-20 is moderate
21 + is high

https://rentberry.com/blog/price-to-rent-by-city

So like rather than buy a house in LA, apparently I should rent one here, and invest in rental property in some city where I have friends nearby like Syracuse or Wilwaukee
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How does this take into account that the vast majority of rentals are 1-2 bedroom units, while purchases are much more likely to be 3+ bedrooms? When people want to settle down, have a couple kids, a big yard, etc, you can't just go and rent a decently nice 4 BR house for $1800. This article only seems applicable to single millennials or those with limited obligations, need/desire for space, etc.
 
Man, I was lucky in both the timing and the location of the purchase of my house.
 
tigerswood said:
How does this take into account that the vast majority of rentals are 1-2 bedroom units, while purchases are much more likely to be 3+ bedrooms? When people want to settle down, have a couple kids, a big yard, etc, you can't just go and rent a decently nice 4 BR house for $1800. This article only seems applicable to single millennials or those with limited obligations, need/desire for space, etc.
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All it is is a ratio with which to help evaluate whether a given market is a good market to be buying in. I lived in Las Vegas from 06-08. The home prices dropped in half, yet the rents barely moved. If you're in a market where the ratio is in the 30's, it means take a good hard look at renting the 4BR house you want and investing what you'd be spending on a down payment/ higher mortgage/insurance/upkeep costs elsewhere.

I've done the math on condos out here in LA right now as that would better fit my needs, but at $800k to buy plus $8k in property taxes and $6k in HOA fees a year for something that I can rent for $2,500/mo, it just flat out makes no sense. However, getting my wife off my back who dreams of home ownership is gonna be an issue.
 
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