Why do you not own a house?

Why do you not own a house?

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change.org/p/stop-hoa-forclosures-in-texas
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because a mortgage is biggest act of usury you can enter for one.

I'm not Chinese

this, debt is slavery.

Except I do. Why are you a massive faggot? That's the real question here.

>Not having actual property rights
>Not having the ability to repair things yourself
>The property owners can walk in your apartment at any time
>Not being able to have a personal garden
>Not being able to have a yard
>Not being able to own mineral rights

Sure sounds like a good idea to me.

t. non-homeowner

Didn't think I'd be here for very long.

In retrospect, it would have been a very good idea to have bought.

No one owns a house in the U.K. You have a mortgage so it's owned by the bank. Once you've paid that off then you may own the building but the land and all of its right belong to the monarchy. If you don't pay your council tax then your house can be taken away. The government can take your house through eminent domain once they pay you what they think is fair market rate. You can't own something that the government take away at their discretion. The only reason I "own" a house is because my wife wanted to and her father paid for the down payment. Otherwise I wouldn't.

You're not wrong... but I'm going house shopping next week. Tired of this renting bullshit. Cities are cancer.

I do, have lived here for 8 years now.

>when your HOA fines you for planting non-approved flowers but it's okay because at least you get to write off the interest on your mortgage until the tax assessor decides the new rain gutters added 10k to the value of the house so you don't even break even

>Not having actual property rights
So what.
>Not having the ability to repair things yourself
My landlord has to fix stuff out of his own pocket, suckst to be me, I guess.
>The property owners can walk in your apartment at any time
Not in Europe.
>Not being able to have a personal garden
Wrong.
>Not being able to have a yard
Wrong.
>Not being able to own mineral rights
Oil is not so common here and I don't have the equipment for a coal excavating operations anyways.

IF you are dumb enough to buy a house the government could decide to plant a rapefugee shelter into your neighborhood, so you lose at least 50% (rather 70%-80%) of your "investment" over night. But yes, that's "smart".

...

HOAs are cancer too. Fuck 'em. The write off isn't worth having a committee of Better Home and Gardens wannabees act like dictators because they want to all look the same.

Why the fuck would dipshits join them in the first place? They can't force you to be part of their fucking club.

Because the real estate market and banks in the US colluded to make it damn near fucking impossible to successfully pull off home ownership

Banks profit off of debt not off of happy home owners. I fucking HATE banks and I hate everyone that just accepts them even though they fuck us every single day.

>3 bed 2 bath is 1000 a month rent in NC
>Mortgage on same place would be 700 or so

Renting is even more retarded. You pay more to rent. It makes no fucking sense and every attempt at justification is pure greed. The only people that rent are the ones that can't afford a home but its more expensive because of insanely high property taxes which pushes landlords to jack rent up to ungodly levels.

>Banker
>Real Estate Agent
>Lawyer

If you're any of these three professions you should kill yourself post-haste. You're an awful person by default.

Once apon a time, there was a benefit to owning property and having a house. Now, its just a big fucking money sink that every few decades a housing market crash happens completely wipes out the value of your home. Now, these market crashes are happening so frequently with the repeal of the Glass Segall act (thanks Clintons), that these crashes are happening every 5-6 years. The last one caused an economic collapse so hard that it was felt around the entire god damn world. Now, a new one is about to happen here pretty soon as housing values are very quickly approaching what they were in 2008. Only this time, nothing will save us.

I own two.
Why don't you?

I like the idea of paying denbts for the rest of my life.

>Banks profit off of debt not off of happy home owners.

Then why don't you borrow from a savings and loan association?

They can in certain areas. Several years ago the governor of Texas had a few laws that allowed his HOA company to attach clauses to new homes being built that effectively gave them ownership of your house if you didn't pay the ridiculous $70 HOA fee. This "contract" was always stapled on to the mortgage contract as a separate document that most people ignored. The people who didn't pay the fee got their house repoed by this HOA company and all these people were out the hundreds of thousands of dollars they had taken out through that mortgage. Yes, they still had to pay it back, but now they had no property any more.

change.org/p/stop-hoa-forclosures-in-texas

This shit is still being done today.

The value of credit is like any other commodity market. Its ran equally by supply and demand and speculation. Its the speculators however, who can influence artificial fudging of the numbers behind supply and demand. The value of land is dictated by how much someone will pay for it. Its continued value is based on a number of factors including but not limited to location, the rate of growth of neighboring communities, the demographics, crime, etc.

The people who were affected by the crash in 2008 the most were the idiots who had awful credit and could only qualify for an adjustable mortgage. That adjustable allowed for the banks to suddenly change the rates in which the home owner had to pay... this caused many people to foreclose. The lesson here is to keep your credit good enough to qualify for a fixed rate loan, so you don't get fucked when the market tanks.

That's royally fucked up.

God damn Texans are cucks.

bed 2 bath is 1000 a month rent in NC
At first i read it as NYC, nearly shat myself desu.

ASK YOUR FUCKING FRIENDLY NEIGHBORHOOD CENTRAL BANKER WHY.
ASK HIM WHY ALL THE WEALTH CREATED IN THE PAST 9 YEARS HAS GONE TO THE RICHEST HALF (.5) PERCENT.

Because it is still being built. And because it is Israel it will take couple of years to finish building.

>people didn't read things they signed
>people suffered unintended consequences

I'm confused, are you trying to invoke sympathy or something?

How old are you? Were you here for the crash back in 2007-2008?

If you had borrowed from a S&L association you were more fucked than people that were with the banks. Look it up yourself I'm not spoonfeeding you.

Point is is that an SL is not a cure-all like you imply.

Not sure about Texas but in Southwest Florida Banks knowingly gave loans to people that couldn't afford them.

We had the worst forclosure rates in the entire country for a while due to it. Stop defending banks, kike.

I do and it's worth over 1 million dollarydoo's which is about sweet fuckall really.

>because a mortgage is biggest act of usury you can enter for one.

There are only two other choices. Paying the same monthly amount in rent, or living in Mom's basement. And we know which one you do.

I don't own one. I own several. Good money in rental properties. Plus, if a friend gets in a pinch, I can hook them up with a solid place to live for a while.

It's not. Buddy of mine has a house in Vienna that is "worth" 5 million, but in fact it's neighborhood is almost exclusively EMPTY newly built condominius. Nobody can afford to buy these at the current prices.
Tl;dr your "worth" means nothing if there is no market that cashes you out. It's worth a rent free roof over your head and nothing more.

Because I own two houses.

Pad for with cash.

>Were you here for the crash back in 2007-2008?

Dude, I was "here" for the S&L crisis in the late 80s that made 2008 look like a rounding error. Nothing is risk-free, but I can't stand the idiots on here who bitch about (((banks))) yet make no effort to seek out alternatives. Being a lazy cynic doesn't make you insightful, it just makes you a hypocritical defeatist.

because kikes ruined the houseing market

This is very true also. You can buy a house often time for much cheaper than what rent is. As long as you aren't a complete fuck head and can do repairs, it is much cheaper to own a house than it is to rent in the long run. You're always going to have property taxes, but that's ( depending on the value of the property ) usually only around 100-200 a month, vs several hundreds of dollars per month in rent.

>I can't stand the idiots that bitch about banks

Stop defending what profits off of debt man. We could go on and on here but from my perspective you're part of why our government got away with bailing out the banks.

Fuck off.

I've taken care of my parents lawn and fixed shit in their house for them and it's fucking awful. It's time and money that could be better spent elsewhere. That's why I'm never buying.

You're not understanding. The "contract" that said this HOA company could take your shit was not in the actual contract itself. Its a stapled on addendum that has no signature required. Its not even a full piece of paper. The legality of this whole affair is extremely dubious, but so far no one has tried to take this to a federal court to challenge it. Cause, you know, people who have money to go that far wouldn't be losing their house and shit.

that's why i live in a condo

Because I'm just fine with renting one

So in other words: Don't trust your fucking bank to help you out. Expect them ALL to be predatory lenders. Most people don't understand generic personal finance and there should be laws against lending to fucking people who shouldn't be lent to. Let's not kid ourselves here this isn't about personal accountability when a banker tells you "hey, it's all good homey, here's your check for 110% of the value of your dog shit house." And by the way, WAMU absolutely positively knew they were bundling toxic loans to sell on Wall Street. How DARE you put Andy Jackson image up there you fucking shill bastard.

To beat the Jews you have to obtain full equity in everything, you can't do through life paying usury to the evil cunts. White men build with equity and extinguish debt, debt is used to control people.

>Not buying a robot to mow your lawn.
Are you from a different time line?

>telling people to look at other ways to finance debt other than banks is defending banks

Maybe we should go occupy something until someone else does something to help us.

Troofs

I was dumb enough not to save up.

>is totally aware of how vulnerable SL's are
>recommends them anyway
>"i hate when people whine when there are options" is basically his argument against a system set overwhelmingly in favor of the lender

gotta admit first laugh ive had today thanks

Because I'm 24 and live in Jew York. Don't exactly have 500k to drop right now and don't feel like getting a mortgage and signing my life away to debt.

The problem of your house and land being worth diddly squat after how frequent these crashes keep happening still exists. You pay $200,000 for a home only to find out next year that its now only work $90,000, and the only thing that changed is yet another banking bubble burst.

i'm against obscene usury but at a 3% fixed rate for 15 years, i'm fine with that

I agree with EVERYTHING you just wrote. But, that fucking image of Finzi has got to go dude! He's just another GD crypto Jew who's pushing these fucking reverse mortgages and robbing the legacy of any inherited wealth. Wealth is usually generational. Homes are the biggest investment we make and my parents are FORCED into a reverse mortgage to pay fucking bills. FUCK THOSE DICK HEAD SCUM LAPPING SHIT BAG BANKERS.

Its defending banks because SLs aren't an acceptable alternative.

At least, in my case. I got fucked by one. Never again.

There WAS laws to stop this. It was called the Glass–Steagall act. Bill Clinton repealed it in 1996. The same bill was re-proposed in 2009 after the crash and it failed to pass. Obama also said he didn't think the bill was necessary.

I'm talking about what IS, not about what should be. I completely agree that the fact that we have to expect banks to fuck us at every turn is no way to live. A bank is a great idea in concept, however, due to the nature of man it is inherently corrupt. The banks fucking won in the end as much as it pains me to say.

The reality is you have to do what you can to fucking survive and if that means playing the game as smartly as possible to avoid getting more fucked than your neighbor than so be it. We're all going to be fucked by the banks whether you want to or not.

The greed of man will never allow for any semblance of fairness to be dictated by those who wish for a portion of personal security.

I fucking hate banks but I hate land lords more.

Uh huh....I bought an investment property in a not so great section of town in 91 twenty years later it hasn't increased in value. Coincidence? Bad Luck? Naivete? Maybe non Of those. There is virtually no where for the little guy to get ahead...No place. We are credit and debt slaves.

>The "contract" that said this HOA company could take your shit was not in the actual contract itself. Its a stapled on addendum that has no signature required.

Addenda to contracts have to be properly executed to be binding.

If you were thinking of an attachment, which you were, the executed document references the attachment. If you're reviewing a contract with a reference to a certain attachment, in particular one that has to have set conditions for you based on the contents of the attachment, why would you not make an effort to review the attachment as well? Especially if it's physically attached to the document.

But I do.

But I do.
>tfw my property value has inceased 75k since I bought three years ago.

Just so you know, if you are a real person(read: American) there are some very good programs that you can use to own your own home without having to expend as much capital as you'd imagine. Under most states have a first time home buyers program that will allow you to get a 30 year fixed rate at 4% for 1-5% down payment, my state has a closing cost assistance program that is a 5k loan at 0% interest that doesn't get paid back until you sell or refinance, also there is a rural development program, that can often bring the down payment down to 0%, and the areas they consider rural may not be as rural as you'd imagine.

Check the foreclosures in your area, it may be possible to pick up a 300-500k property with land for only 100-200k, allowing you to immediately gain equity in your property, which would allow you to have the mortgage insurance (a fixed rate monthly payment attached to mortgages with less than 20% down payments) taken off your mortgage.

Get some land user, stock up, go off grid.

Yes. We operate under the timeline where Trump is a cuck to the Neocon globalist snakes.

Everything is about to collapse, I dont want to be ass deep in debt when the banking gestapo come for me.

Thats right. They repealed all these fucking laws that we're put in place during the depression. All along saying they don't apply to today's way of life etc etc. Now they've got, those shitty worm ridden FUCKS, a "New & improved" Glass Steagal. HFS! How can we tolerate these evil mother fuckers? "New" Glass Steagal....FUCK. the only reason they're doing this is to be able to say "well, golly gee, you cant acuse us of any wrong doing. We're the ones that put the act back In. Place". They do everything under the radar. They sign bills on Sunday and holidays when everyone's back is turned. Read the Saturday New York Times. Everything is there in black and white. They make all the announcement s and all the decision and post them in Saturday newspaper. The one NO ONE reads.Just like that cocksucker John McCain going to Syria on Memorial day to meet with Al queda. FUCK ME!!!!!

The house ALWAYS wins. The finance industry is set up so that it CAN be corrupted. If Jesus Christ were running the finance industry it would be perfect. If Satan was he'd corrupt the fuck out of it. The finance industry is designed to be corruptible.

pay them property taxes on it then goyim, can't own anything, be a good slave.

Yeah, I agree if there was ever a time to get in It's now, I'm not sure what kind of fixed interest rares you have over there but here they're under 5% which you could easily defeat over 10 years.

Expensive AF.

Only if you let yourselves. I have zero credit cards. I refuse to take out loans for anything. I don't give two fucks about my credit rating.

>But user, what about getting a car? An apartment?

The car... that was a little rough at first. I admit. After turning 18 and moving out etc, I had to rely on a bicycle and public transportation for about 6 years until I saved up enough money to buy one out right. My first car was a used 98 Buick Park Avenue. Paid $8800 for that thing. Last me a good 10 years before finally blowing 2 cylinders. By then I had saved up enough money to buy a used 2012 Honda Civic a few years ago. Its still kicking today. How did I do it? By saving my god damn money and not buying frivolous shit or having to pay for loans I couldn't afford. Thats how. It absolutely amazes me how people think they MUST HAVE THE LATEST THING and take out loans for everything. Taking out loans to buy a god damn iPhone for fucks sake? I mean what the fuck? Smartphones in general are bullshit. What kind of moron do you have to be to put yourself in debt with those asinine contracts over a stupid phone? No, I do not have a smartphone. Mean while I'm saving my money, living in a cheap one bedroom apartment in an averagely decent neighborhood. It also helps that I don't live in a big ass city, and my rent here is only $525 a month.

As for the apartment. Apparently having and using a debit card counts towards credit rating? I don't fucking know. I can't really explain that one since all I have is a checking account and a savings account. Maybe its the fact I've never once overdrawn the thing and keep money in a savings account and rarely touch it unless I'm buying something big (like a car)? Apparently my credit rating is "decent". Whatever, I don't give a fuck. I'll never use it.

I do not live beyond my means like most people seem to do.

It is very ugly, but good for you that you have all that space.

for 10 year, we're at about 3% for fixed rates

>be mechanical engineer
>be unemployed for 3 years

Yeah, I'm taking the real estate course and I'm going to jew as much as I possibly can.

That's not my house, it's actually way smaller. My next one will be like that though.

lel I bought a car a few months back

I figured I'd take a small loan on it to improve my goy score. So then it turns out my previous goy score is invalid because I don't take out loans often enough. And then they said I couldn't just buy it outright because my bank isn't a good enough goy, so I had to take a really, really good goy loan just to drive it off the lot.

What a scam. At least I didn't agree to some shit where I couldn't just pay the whole thing off the next month and skip out on the jewtrist.

You're probably going to fail as many people desperate to better their financial situation get in and out of Real estate without ever making a single sale.

people are hating on landlords in this thread but the fact of the matter is is that most tenants are absolute shit

Don't join a hoa if you don't like them.

Renting sucks, a Jew mortgage sucks. Buy a house using contract for deed with a private seller and get your house paid off in 5-8 years.

Indianapolis here, great area, 1400 sq ft house, half acre yard, 21 years old and will be paid off at 26. Also buying as many houses I can using contract for deed in order to build my net worth and cash flow by the time I am in my mid twenties. Buying rental houses for my parents so that I don't have to buy long term care insurance or pay for a nursing home ever. They pay my 50k houses off for me and then when I do not owe I reduce their rent 75-80%.

Once I am in my mid twenties I could be earning as much as $2500-$5000 a month in 5-10 properties that I own each worth an average of 50k. I'm profiting off of my own investment that other people pay for.

I agree that there are many idiots that take it and expect the sale to fall on their laps. Obviously I don't intend to be that idiot.

Oh, and I'm buying these houses interest (jew) free. Straight principal.

I can see not being able to pay in straight cash. A lot of car lots will do this as a way to protect themselves. You can usually get around this by using a debit card though. This leaves a traceable electronic trail for Feds/IRS/law enforcement to look at and no physical money ever touches hands. Usually purchases of over $1000 have to be approved of by the bank first which can be done in 5-10 minutes by calling the bank and telling them who and what you're purchasing. I have to ask though, what kind of shitty bank wouldn't allow you to do this? Even more, what kind of shitty car dealer wouldn't let you do this?

Multiple replies = triggered

I'm sorry you got in a bind with an S&L. It can happen to anyone in any situation; virtually every financial institution that exists has had a period where it went more or less tits-up.

The question here is forensics. What happened? What system failed to cause it to happen? What can be done to mitigate or reduce the risk of failure in the future? Is the failure intrinsic to S&L or is it a symptom of a different characteristic? If you buy a green car and the engine block cracks, do you say you had a bad experience with a green car and you'll never buy a green car again?

I don't say all this to be condescending but because we have an entire generation of people who are never going to escape their dependency on the state-banking apparatus because they spend too much time criticizing the system and too little using it to their own advantage.

We live in a unique time where both the government and the private sector work together to enrich themselves at our expense, yet the entire process is completely voluntary and multiple alternative paths exist in virtually every sector. They remain underutilized, however, and the bankers and politicians win, because the people are not willing to make the extra effort to oppose them beyond token efforts like hashtags and trite criticisms.

It is, as I said, more defeatism than cynicism. Everyone seems to hate the system yet they continue to use it, or worse yet, remove themselves from it altogether (and in the process any vehicle for improving their situation).

This thread is full of idiots who write off a huge step in building wealth and improving their personal resiliency and security because of DA JOOOOS. Let's not compound the issue.

mass immigration of illiterate beggars with welfare guaranteed by the government drew up the house prices.

Nah, I wanted to write a check like a normal person. I don't roll around with that much cash. But even the cards they could only do $3k each, and I only have more than one so I have alternatives if one is being retarded for whatever reason.

I don't know what the issue was exactly. There was some tangle about being able to walk in and drive it home since I was out of state, but it really seemed unnecessary. Apparently people don't just walk in and buy cars out of nowhere anymore?

>DA JOOOOOS

So don't buy into the system yet don't completely abandon it. Well then what?

was actually about to start shopping for one, but now waiting for july because my state government is fucking off taxes for first home buyers that will save me $10k or so

meanwhile, i can enjoy a six figure net worth before going into six figure debt to the merchants

Because I don't want to be a good goy and work 60 hours a week.

I live in Australia and am not a baby boomer or connected person.

Virgin with no actual chance to form a family, unless marrying a used up 30-something Chads cum sack and i am above that.

>fucking off taxes for first home buyers
That's pretty neat. Also kind of a bad sign when the government has to incentivise like that to compensate for running the country incompetently.

How much of those are going to go into greedy chink hands?

>Hey, wanna be in debt for the rest of your life?
>Hey, want to live here for the next 50-60 years?

>if there is no market that cashes you out
There's still something like 1.4 billion chinks who don't already live here. We don't need to worry about demand senpai

shitty investment returns. repair costs. cleaning gutters, mowing lawn, painting, plumbing, heating, chimney cleaning. stuck in one place.

Generally speaking, no. The vast majority of people use loans to pay for really expensive shit these days. People accuse Millennials of instant gratification, but Baby Boomers are also very guilty of this. Why many of them never learned how to save their money. Most of them taught their kids this too and the trend continued.

I was fortunate, I suppose. Or maybe I'm just good a smelling bullshit. I saw what soul crushing debt did to my parents and made a promise to myself I'd never make the same mistakes. Sure, I'll never own my own house, but I honestly don't want one. That shit is way too much work with all the maintenance you have to do to keep one from falling apart.

Yeah, maintenance is a killer. I did a stint as a property manager / general contractor and holy crap there's a yuge difference between a landlord who knows how to run a business and a landlord who thinks owning a bunch of shit and renting it out to more shit is free money.

I don't own my house because I've got 19 more years to pay on the mortgage.

>tfw mortgage is $1500/mo and the cheapest rent in town is now up to $2500/mo for the same sqft, bed and baths.

cause im american. things aren't so good here right now, thats why we're all so fat

government at every level gobs off about housing affordability and occasionally makes attempts at band-aid "fixes" like this but really all they want is to fan the flames a bit more and keep prices on the up