Author Topic: do you think the work you do over 20-30 yrs to pay off a home is fair?  (Read 9726 times)

Army of One

  • Getbig V
  • *****
  • Posts: 30388
So money is essentially a reflection of the value of your labor right? Do you really think the work you do for the 30 odd years it takes to fully pay off a house accurately reflects the work out into making that house? Or is the value of land and homes currently way too overvalued?The land was once owned by nobody until somebody turned up and claimed it, then you are just looking at the materials and labor needed to put it up.

Pray_4_War

  • Getbig V
  • *****
  • Posts: 15801
  • Thot Expert

Army of One

  • Getbig V
  • *****
  • Posts: 30388


yeah yeah, location location location, capitalist society, its worth what someone is willing to pay blah blah.This is a post covid19 world, people are seeing how pointless celebs, sports stars are, the joys of the quieter life around family, rethinking how they will spend their time in future.There is no way housing should cost anywhere near what it does, anyone saying otherwise is completely brainwashed.Going from memory, since the year 2000 wages have largely stayed the same in Seattle for example, but house prices are 5x higher.Thats just wrong.

oldtimer1

  • Getbig V
  • *****
  • Posts: 18124
  • Getbig!
In most locations the land the house is on is worth more that the house. One thing is true is that barring a world wide pandemic a house will appreciate tremendously in 30 years. That 200K house bought 30 years ago has a chance to double in price or more. 

Sissysquats

  • Getbig IV
  • ****
  • Posts: 1111
Not trying to pay it off. Have refied 4 times lowering payment but kicking the note further down the road. At some point we will downsize and have $$ in the bank

Henda

  • Getbig V
  • *****
  • Posts: 12415
Here in north east England Houses are still cheap, I got mine even cheaper as it needed a lot of work (60k less than others in sane street at time)so don’t fall into the normal lifetime commitment to pay off house which would fucking hate. All want out of life is finish paying it off and work as little as needed through 40s and 50s would fucking hate to have massive mortgage might as well be a slave for next 25 years  

oldtimer1

  • Getbig V
  • *****
  • Posts: 18124
  • Getbig!
Not trying to pay it off. Have refied 4 times lowering payment but kicking the note further down the road. At some point we will downsize and have $$ in the bank

If you pay extra toward the principal every month you will kick yourself down the amortization chart limiting the bank's profit from giving you a mortgage. Best part is that you can shorten the length of the loan drastically while saving a ton of money that was going toward interest.

Irongrip400

  • Getbig V
  • *****
  • Posts: 22412
  • Pan Germanism, Pax Britannica
If you pay extra toward the principal every month you will kick yourself down the amortization chart limiting the bank's profit from giving you a mortgage. Best part is that you can shorten the length of the loan drastically while saving a ton of money that was going toward interest.

Why not just get a shorter loan term? I went with a 15 year note four years ago and it cut my interest rate almost  in half and my payment only went up about $300 a month.

IroNat

  • Getbig V
  • *****
  • Posts: 39245
  • There was a man called (blank)
In most locations the land the house is on is worth more that the house. One thing is true is that barring a world wide pandemic a house will appreciate tremendously in 30 years. That 200K house bought 30 years ago has a chance to double in price or more.  

Doubling in price over 30 years is a 2.4% return.

Not good.  It sucks really.

Plus you have to pay your mortgage interest, property taxes, repairs and upkeep.

Owning your own home is a luxury, not an investment, unless you luck into buying in an area of unreal appreciation before it takes off, like parts of California.




Pray_4_War

  • Getbig V
  • *****
  • Posts: 15801
  • Thot Expert
Just buy when the real estate market tanks in a year or so.  You'll get a fair price then.  I bought after the last crash and got a good deal.  Buy low, sell high, just like stocks.  Only schmucks buy at the top.

Where I live the real estate prices are a bit inflated but that's partially because we have a lot of demand in the area and not enough supply......for now.

IroNat

  • Getbig V
  • *****
  • Posts: 39245
  • There was a man called (blank)
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #10 on: April 19, 2020, 08:19:10 AM »
Just buy when the real estate market tanks in a year or so.  You'll get a fair price then.  I bought after the last crash and got a good deal.  Buy low, sell high, just like stocks.  Only schmucks buy at the top.

Where I live the real estate prices are a bit inflated but that's partially because we have a lot of demand in the area and not enough supply......for now.

Absolutely.  Great advices.

When the real estate market is high stay away!  Stay on the sidelines and rent.

Buy at the top and you are going to be dead meat, owing more than the house is worth.

That's what happened to lots of people after the last crash.

IroNat

  • Getbig V
  • *****
  • Posts: 39245
  • There was a man called (blank)
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #11 on: April 19, 2020, 08:27:13 AM »
yeah yeah, location location location, capitalist society, its worth what someone is willing to pay blah blah.This is a post covid19 world, people are seeing how pointless celebs, sports stars are, the joys of the quieter life around family, rethinking how they will spend their time in future.There is no way housing should cost anywhere near what it does, anyone saying otherwise is completely brainwashed.Going from memory, since the year 2000 wages have largely stayed the same in Seattle for example, but house prices are 5x higher.Thats just wrong.

Supply and demand.  Lots of people want to live there because of the jobs.

That's why beachfront houses are so expensive.  Demand to live near the beach.

On the other hand houses are cheap in East Bumf*ck because nobody wants to live there.  

You could buy a cheap house in East Bumf*ck too but It's a long commute to your job at Microsoft.

SF1900

  • Getbig V
  • *****
  • Posts: 49832
  • Team Hairy Chest Henda
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #12 on: April 19, 2020, 08:43:05 AM »
Why don’t people just buy a mobile home like Goodrum.

He’s living just as good, if not, better than most getbiggers.
X

Hulkotron

  • Getbig V
  • *****
  • Posts: 29905
  • Expunged
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #13 on: April 19, 2020, 08:44:36 AM »
Girls and sons who have not been loved by their fathers seek attention once teens and adults to compensate for what they didnt have originally. Fathers either left them alone, or were distant most of the time and not encouraging them. Some even despised them which would shape their personality and the way they d interact with others for the rest of their life.
They are extremistic in everything they do, always looking exageratly for attention, and have troubles adapting to society's rules, because they also have troubles defining their own identity and respecting authority and hierarchy.


Also boys who got picked on by others during childhood and adolescence -often sons without a father figure- try to compensate by lifting weights, to develop muscles and survive in ther male world. They re insecure because they re girly, childish, feminine having been raised by a single mom. They lift obsessively hoping it will transform them into men, to compensate for their lack of influence from a father figure that was not there. Unfortunaltey they can get as big as they can it doesnt cure their insecurity and who they truly are, how they grew up being raised by a single mom. They re no as manly as other men whatever they do, and they often have a big lack of masculine presence they dont know how to balance, hence often being borderline homosexuals while trying to get their manhood back thru various manly activities (mma, cars, weight lifting etc). They are often the ones that, in order to get respect from other males will go the steroids route to get even "bigger" attemptint to cure their insecurity , but being natural not being "enough", they still feel "too small", insecure, amongst other males. The lack of a father figure also often means they didnt have guidance to continue studies and are often working shitty manual jobs.

Army of One

  • Getbig V
  • *****
  • Posts: 30388
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #14 on: April 19, 2020, 08:44:47 AM »
Supply and demand.  Lots of people want to live there because of the jobs.

That's why beachfront houses are so expensive.  Demand to live near the beach.

On the other hand houses are cheap in East Bumf*ck because nobody wants to live there.  

You could buy a cheap house in East Bumf*ck too but It's a long commute to your job at Microsoft.

Lots of people thought they wanted a beach front property, because they have been brainwashed in to the superficial mindset.How many just want a quiet life with a loving family on a patch of land they get to spend more than 1 day of a weekend on?

Army of One

  • Getbig V
  • *****
  • Posts: 30388
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #15 on: April 19, 2020, 08:46:23 AM »
Why don’t people just buy a mobile home like Goodrum.

He’s living just as good, if not, better than most getbiggers.

Jokes aside, very true.Its cheap, comfortable, on a nice green plot.He had the right idea from the start

gmflex

  • Getbig V
  • *****
  • Posts: 7033
  • The Empire lives...you rebel scum!!!
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #16 on: April 19, 2020, 08:47:18 AM »
 ;D   ;D

 paid the house already..

Bought in 2006 / new construction at $175,000.00 First time buyer.. Got a screwed with a 30 year 6.375% rate.

I Refinanced in 2010 at 15 years at 3.75% rate..

Finished paying of the house in 2018
Now all I have is the property taxes which are $5,000.00 a year..

Looking now into building a infinity pool with jacuzzi in the back yard.

 ;D   ;D

Marty Champions

  • Getbig V
  • *****
  • Posts: 36515
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #17 on: April 19, 2020, 08:47:40 AM »
Why don’t people just buy a mobile home like Goodrum.

He’s living just as good, if not, better than most getbiggers.
vince is in a bad neighborhood lots of dirty heroin zombies there and gay polygamy
A

IroNat

  • Getbig V
  • *****
  • Posts: 39245
  • There was a man called (blank)
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #18 on: April 19, 2020, 08:48:19 AM »
Girls and sons who have not been loved by their fathers seek attention once teens and adults to compensate for what they didnt have originally. Fathers either left them alone, or were distant most of the time and not encouraging them. Some even despised them which would shape their personality and the way they d interact with others for the rest of their life.
They are extremistic in everything they do, always looking exageratly for attention, and have troubles adapting to society's rules, because they also have troubles defining their own identity and respecting authority and hierarchy.


Also boys who got picked on by others during childhood and adolescence -often sons without a father figure- try to compensate by lifting weights, to develop muscles and survive in ther male world. They re insecure because they re girly, childish, feminine having been raised by a single mom. They lift obsessively hoping it will transform them into men, to compensate for their lack of influence from a father figure that was not there. Unfortunaltey they can get as big as they can it doesnt cure their insecurity and who they truly are, how they grew up being raised by a single mom. They re no as manly as other men whatever they do, and they often have a big lack of masculine presence they dont know how to balance, hence often being borderline homosexuals while trying to get their manhood back thru various manly activities (mma, cars, weight lifting etc). They are often the ones that, in order to get respect from other males will go the steroids route to get even "bigger" attemptint to cure their insecurity , but being natural not being "enough", they still feel "too small", insecure, amongst other males. The lack of a father figure also often means they didnt have guidance to continue studies and are often working shitty manual jobs.

Awesome, well-thought out post.

In addition, the steroids they take makes their dick and balls shrink, further adding to their insecurity.

che

  • Getbig V
  • *****
  • Posts: 16844
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #19 on: April 19, 2020, 08:59:07 AM »
yeah yeah, location location location, capitalist society, its worth what someone is willing to pay blah blah.This is a post covid19 world, people are seeing how pointless celebs, sports stars are, the joys of the quieter life around family, rethinking how they will spend their time in future.There is no way housing should cost anywhere near what it does, anyone saying otherwise is completely brainwashed.Going from memory, since the year 2000 wages have largely stayed the same in Seattle for example, but house prices are 5x higher.Thats just wrong.

 It's not like you are throwing  the money away ,  at the end you will own a house and if you can sell it  for 5X higher what  you paid  like you said , that's not too bad  ,still better than renting .

Army of One

  • Getbig V
  • *****
  • Posts: 30388
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #20 on: April 19, 2020, 09:18:23 AM »
It's not like you are throwing  the money away ,  at the end you will own a house and if you can sell it  for 5X higher what  you paid  like you said , that's not too bad  ,still better than renting .

"At the end" being the inportant words.Imagine if everyone could own their own home outright by 35.

SF1900

  • Getbig V
  • *****
  • Posts: 49832
  • Team Hairy Chest Henda
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #21 on: April 19, 2020, 09:28:19 AM »
vince is in a bad neighborhood lots of dirty heroin zombies there and gay polygamy

Believe it or not, Vince is probably more stable than most getbiggers, emotionally, physically, and financially.
X

painfull86

  • Getbig II
  • **
  • Posts: 137
  • Getbig!
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #22 on: April 19, 2020, 09:30:10 AM »
Believe it or not, Vince is probably more stable than most getbiggers, emotionally, physically, and financially.

Compared to groink maybe ;D

FitnessFrenzy

  • Getbig V
  • *****
  • Posts: 29234
  • faux pas
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #23 on: April 19, 2020, 09:32:24 AM »
Nothing wrong about working hard to achieve big purchases.

JustPlaneJane

  • Getbig V
  • *****
  • Posts: 5027
Re: do you think the work you do over 20-30 yrs to pay off a home is fair?
« Reply #24 on: April 19, 2020, 09:35:32 AM »
Doubling in price over 30 years is a 2.4% return.

Not good.  It sucks really.

Plus you have to pay your mortgage interest, property taxes, repairs and upkeep.

Owning your own home is a luxury, not an investment, unless you luck into buying in an area of unreal appreciation before it takes off, like parts of California.


In the U.S. the mortgage interest and property taxes (capped at $10,000) can be written off to lower your tax liability.

Renting a home long term is pissing money away.