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Everywhere I look, the prices are absolute insanity. I mean, yes, they are expensive and if you're lucky you can get crumbs from the kike manipulation of the markets. If you're unlucky, you essentially have a very expensive, down under mortgage. But recently, the housing prices come off as slavery. These clearly 250,000 housing units are being sold for 500 or more, and its like how the fuck does anyone afford this stuff?

Everywhere I look, the prices are absolute insanity. I mean, yes, they are expensive and if you're lucky you can get crumbs from the kike manipulation of the markets. If you're unlucky, you essentially have a very expensive, down under mortgage. But recently, the housing prices come off as slavery. These clearly 250,000 housing units are being sold for 500 or more, and its like how the fuck does anyone afford this stuff?

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[–] • 2 pts

1) Two full time working adults. 2) Buy further out.

The smartest thing financially is not to live in the first house you buy. Everything about it - if you don't live in it - is tax deductible. So, buy a house that makes a good rental return and is cheap to get into. Pay it off pronto and you're on the way.

One mistake most young people make is thinking they can go into a house like their parents own. No - that takes decades to build to, humble yourself and buy down.

[–] • 0 pt

If you don't live in it for at least two years, you'll owe capital gains on appreciation, I thought?

[–] • 1 pt

That's just a paperwork issue.

[–] • 0 pt

Depends where you live I guess. It's 1 year here in Aus.

But the idea is you don't sell. It's an income machine that you set and forget.

[–] • 0 pt

lol "income machine you set and forget"....Yeah until the toilet leaks and they call for repair. I just had to replumb my entire rental just a few months back. It's not cheap. If I were to do it over, I would buy a duplex first. Live in one side and rent the other half out. Their rent basically pays the mortgage so you can make double payments right from the start. Then save for down payment on next house. With a paid off duplex the rent pays for your entire new mortgage and more. I have 3 places right now and sometimes I'm constantly fixing stuff. So if you are pretty handy repairs will be less expensive.