Is buying a house in your 20s really a smart idea?

[BaldingSoHard]

Got black people in here really against ownership and renting.unbelievable.

Eh, renting has it's place.

It's the brehs talking about renting for 30 years that has me .

 

[Doomsday]

If owning properties is so bad then why are rich people still doing it?

All you dudes co-signing a renter movement are just living off government assistance anyway. It's easy to tell someone not to buy a home when you freeloading.

 

[GunRanger]

• The wealthiest 5% of black Americans are slightly less likely to hold financial assets (stocks, bonds, and so on) in their asset mix. Of the financial assets they do invest in, wealthy blacks are more likely than wealthy whites to invest in safer assets, preferring CDs, savings bonds, and life insurance to higher risk (and higher reward) assets.
• Wealthy black Americans have more money in real estate holdings than equally wealthy white Americans. The former hold 41% of their non-financial assets in (non-primary residence) real estate, while the figure for the latter is just about 22%. Adding in primary residences brings those numbers to 57% and 34%, respectively. Even after the housing bust, real estate is considered a lower-risk investment.
• Wealthy black Americans are less likely to hold equity in business assets. Looking at this group’s non-financial assets, 9% are equity in business assets. That figure is 37% for comparably wealthy whites. The numbers are similarly stark if you look at this as a percentage of total assets: 21% of the wealthy whites’ total assets are invested in their own businesses, versus just 6% for wealthy blacks. Because both groups are equally likely to run their own companies – 23% in both cases – the researchers calculate that this means white business owners are investing in their businesses at a rate 7 times higher than black business owners. In raw dollar terms, it means that black business owners have about $68k in their businesses, while white business owners have roughly $468k.

 

[Mr.Plan B]

Need some help brothers. Found a lil condo 1 br 1 bath which is 18k. The down payment is 3600 which is 20%. The monthly payment would be 360 with property tax. I have half of that saved already. By the end of summer I would have the whole thing. Anywhere else in this area I'm paying from 650 and up to rent so it look like a better deal for me.But the thing is I have some cc debt not that much lil over 1500. Should I even try to get a lone for the 15k? I know most banks won't even give me a lone for that lil it"s not worth it to them. Although I know a local bank who gave me my car loan which I'm in great standing with so should I try to have talk with them or use my saving to pay off my debt on cc and continue to live at home? I really want to start owning my own shyt when I'm young so by time I'm 30 I have many places to rest my head all over the USA.

 

[Richard Ayoade]

Dont buy a house in your 20s.

It restricts you financially and geographically.

Unless you have no aspirations, then go for it.

 

[Mr.Plan B]

If owning properties is so bad then why are rich people still doing it?

All you dudes co-signing a renter movement are just living off government assistance anyway. It's easy to tell someone not to buy a home when you freeloading.

Not hating on that tho wish I could get section 8 srs.

When you only paying 300 or less for 2 br you eating good plus putting money away each month.

 

[EndDomination]

It's pretty easy to pick out the people who have never owned property, yet think they know everything about it and have "chosen" to rent.

This.
A lot of smart-dumb nikka talk from broke men in their 30s in this thread.

 

[EndDomination]

At nikkas in here acting like the Great Recession was the only economic downturn the US has ever had, and that homeownership is now worthless.
No wonder White people can gentrify neighborhoods so easily, apparently there is actually a fear of ownership

 

[Art Barr]

So you're saying you don't know any people who don't live in shyt homes?
Also why are people in here acting like homeowners are paying tens of thousands of dollars a year in repairs?
If you're that afraid of something breaking, get a fukking home warranty, this isn't brain surgery.

If you sold a home.

How are you talembout not paying tens of thousands in repairs to bring it up to code for sale.

Where do you live they let you pop off a home in this market without inspection repairs and repairs for staging to sell the home.

Where do you live?


Art Barr

 

[BaldingSoHard]

If you sold a home.

How are you talembout not paying tens of thousands in repairs to bring it up to code for sale.

Where do you live they let you pop off a home in this market without inspection repairs and repairs for staging to sell the home.

Where do you live?


Art Barr

Bought a new build in Seattle, WA in 2014.

 

[Vandelay]

Short answer, no.

 

[Art Barr]

Bought a new build in Seattle, WA in 2014.

You talembout a place price gouging people because of the industry there, tho.

Plus you act like they don't have poverty issues on black and white sides and issues economically. As they try to big budget a logger based city and town too.

You could come up there but that is:
THE ONE OF TWO EXTREME EXCEPTIONS TO THE RULE.

those exceptions being SF and Seattle.

So good luck and make due there.

Art Barr

 

[Liquid]

Building equity as soon as possible is the smartest thing to do.

 

[Kuwka_Atcha_Ratcha]

Building equity as soon as possible is the smartest thing to do.

game, set, match

end thread.

 

[CrimsonTider]

Short answer, no.

Always a good idea to invest your money