Comment on Share with those less fortunate
DragonTypeWyvern@literature.cafe 8 months agoFeel free to day one flip a new house for a profit after those expenses you’re handwaving, I’m sure it’s easy to do.
In the meantime, most homeowners will be breaking even on the investment, aka growing their worth, years or decades into ownership, assuming a stable market.
Much slower now than it was just a couple years ago, I hope they got a fixed rate.
Jmdatcs@lemmy.world 8 months ago
Bro, you need to take the L here.
I’ll ignore you obviously having no idea what net worth means and trying to move the goalposts from your dip shit 50% comment again and just say this:
Even in a buyer’s market where the seller pays their realtor fees, the buyer’s realtor fees, and closing costs, you’re talking 7-8% tops. If your home hasn’t decreased in value and it takes you decades, or even just years, to have 7-8% in equity, you are a class-A fuckup.
DragonTypeWyvern@literature.cafe 8 months ago
Ok buddy.
Hey, smart idea, since homes are guaranteed investments right now, you should just start buying up properties.
I mean, if Blackstone can do it, why not you?
No need to even rent them out!
They just build equity for free!
Jmdatcs@lemmy.world 8 months ago
Are you mentally impaired? Like diagnosed? I don’t want to make fun of you if you are, that would be mean.
Stop putting words in my mouth and stop moving the goalposts.
You said you have to pay 50% of your mortgage before a house adds to your net worth. That isn’t just wrong, it’s dumb as fuck.
You said it takes years or decades to be able to break even selling a house. That’s not just wrong, it’s dumb as fuck.
Weather or not is a smart idea for a particular person to buy a particular house or if it’s a good idea to invest in real estate vs something else are different discussions. I would bet it’s a bad idea for you because you seem unable to grasp even the most basic concepts.
DragonTypeWyvern@literature.cafe 8 months ago
Ahhh all of sudden we’re admitting mortgages are both a risk and an initial loss in value, interesting.
Good luck trying to win internet arguments with insults, I’m sure it seems natural to you.
Doesn’t tell the audience what your own insecurities are at all.