Mercer
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Posts posted by Mercer
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Yea, I figured this was the thread was a good place for content too spicy for the political memes thread.
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4 minutes ago, LUGR said:
Those steel toes peaking out on his carpet is lulz.At least his fake cowboy Chelsea's loops are peeking out the back of his wranglers, and the job site safety snitch knows he's good unless he's an electrician.
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Just picked up a 6.5 to match with my 5.56 today and reach out to touch something at 1000 yards. Need some glass for it, deciding how much I should spend.
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Dhabz after a hit of meth and some bible verses.
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On 2/23/2024 at 3:49 PM, ndv said:
But for what reason tho, from what I remember everything was good other than giving him a hard time about pizza. But that's Childs play to say the least.
Yea, that's the last time I seen him. He was legit kinda mad about Detroit style Pizza topping or something. Has anyone seen him since then? There's always a small chance mixing pizza rage with return negaprop fire can be fatal.
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@misteravenI think about that probably a bit too much and try not to. One thing I consider is the lottery winner effect. When someone comes into a fuck ton of money like winning the lottery, they're usually broke again shortly after. They think 2 million, well I get a million dollar mansion, then 500k in cars, and then...
When someone builds the discipline to save up, work hard, and make sacrifices to gain actual net worth, rather than income it's a different story. They're less impulsive, the money seem to stretch longer and from an outside perspective it's not as life changing. That's why it's such a bummer seeing a well off person win the lottery. You're like "what are you going to buy?" They answer with some super responsible boring shit like "set up a trust fund, for my grandkids, maybe build an addition on the house for my MIL or something." Half of these people don't even quit their jobs.
I can only speak for myself, but if I'd have been that well off during the 2014 halvening when BTC first hit $1000, chances are I'd be in a worse position now. Granted, I would have had dope whips, dookie rope chains (always hated herringbone) and some obscure sneakers most people couldn't afford to even look at.
All this to say, I've slept on financial responsibility my entire life up until about 2016, and I wish I had been more responsible much sooner. I'd be retired, instead of just slightly retarded.
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5 minutes ago, KILZ FILLZ said:
Didn’t end up playing any jokes
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1 hour ago, metronome said:
@fat ralphyI think the biggest difference between our mortgage lending practices is term length. Most Canadian lenders aren’t going longer than 5 years or so, it is possible to go longer but usually you have to sacrifice on rate for that.
You can also make your choice here between fixed vs a variable rate, it all depends on the type of person you are and how closely you watch the rate trends.
One of the big concerns in the Canadian housing market is supply. The other big one right now is so many home owners are massively over leveraged because they bought in inflated markets (Toronto, Vancouver) with low pre Covid rates and now a lot of those mortgages are coming up for renewal.
Most mortgages here will have rules about how much you can pay down your principal per year over your regular payments (mine is 25% for example). I saw the writing on the wall in 2021 when our rates were at their lowest, paid a small penalty to break my mortgage and renegotiated (went from 2.9% down to 1.79) which ended up saving me ~12k in interest. Now I’m at the point where most short term investments are returning well over my mortgage rate so it’s a race against time to stack it up to plunk down when my renewal comes up and you can pay into your principal with no penalty or limits.
This is wild. Our system is different here. The lenders basically offer a fixed rate, which is contractual from the jump, or a variable rate, which you know what you';re getting into with that. All mortgages are long term though usually 15-30 years, and the mortgage itself is sold between different lenders but the rate in the original fixed rate contract doesn't change. People here will refinance, but only in situations where that will save the borrower/homeowner money. Like if they're at 5% interest, and someone is offering 3% interest. Completely different systems but I'm sure it's due to completely different banking regulations.
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Weird you've noticed, a lot of people are telling me to wear a shirt. Anyway, does anyone else in here lactate randomly? I keep ruining shirts.
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Weird that I'm the only person who's able to admit they were wrong on this. Given the evidence, I don't know a single person who's opinion has evolved on this subject.
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13 minutes ago, mr.yuck said:
Hahaha. My man. I'm not arguing against your logic. I'm railing against the practical application of it given current circumstances. But you are more than right about one point that stuck out to me. For all the people that say they are waiting for interest rates to go down, when they do, and people like me raise their asking price, they are going to be stuck paying the same over inflated price with no hope of refinancing down the line.
But this does bring up another facet that I haven't done any thinking on. Rents are crazy right now, interest rates are crazy right now, the stock market has entered a new bill run. @Mercerdo you think it might be more beneficial to take the difference between the cost of home ownership and renting and investing that money?
I hear you, it's just thought it was a given these people aren't considering buying a house yet if they're gettin minimum wage they're probably looking to make it to level 2 instead of skip level 2 & 3. I see so many people with a can't do mind set that are in way better positions than I was and so my advice is always geared towards positivity.
As far as paying rent instead of owning, it depends. I bought my house 2020 using the cares act, and cashing out some of my 401k to put just 10% down for that very reason. Most of my savings were tied up un crypto, and I knew Bitcoin was about to spike like it does every halvening. Somehow I managed to pull off both thanks to covid.
Investing is like that, there's always a better investment in hindsight, and random variables so nothing is ever truly 100%. I'd just say for most people, owning a home will be their best/biggest investment. Playing stocks/crypto/dividends etc. isn't really for most people. I will say the price of my home has almost doubled with just the market, my own home improvement work, and about 10k to contractors over the last 4 years. Even with interest rates back up to 80's levels the market, at least here, is still overpriced with no relief in sight.
Honestly, I probably am a little out of touch with people in minimum wageish lines of work. Since I left NYC, everyone I know here either works in fire alarm, IT, is an electrician or something like that. The only other 12oz person I've hung out with in Denver is in 1.5 million dollar crib, with nice whips & classic cars, Mr. Raven is up in Montana building out factories and stuff.
So if I see someone struggling it's like yeah, I been there myself, but can't relate anymore breaking through to the other side. I used to lie to myself thinking it's impossible to get ahead when I was out there buying range rovers, while living in a shitbox apartment in the East Village. I just stopped indulging in instant gratification of impulse buys, and looking for long term gratification. I started making moves at work, and saving and investing. So that's the overall message I try to share because that's my truth. Anyone in here can make it if they first believe it's possible, then do the work to get there. I know nothing hurts like the truth, so it can be a little annoying to hear someone telling you it's possible, but at the same time it's also the truth. I'm trying to make Americans, out of American'ts.
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OK, does this video of me playing guitar work?
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29 minutes ago, LUGR said:
How come they didn’t include any pics of the 1bd 1bth 600 sqft condo?!?!Roaches wouldn't sign the release for their image to be used in real estate advertisements.
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31 minutes ago, mr.yuck said:
Nah. Be for real, brother. Ain't nobody bringing home $600 a week after taxes saving up a $24k down payment on a house right now. Not the way this economy is set up. It's wild, 5 or 6 years ago you could find big ass historic homes in nice neighborhoods that needed a ton of sweat equity for $50k-$99k usually cash deals. Now you could also find houses in this same price range in the hood. Now the hood houses are starting at a quarter mil while the hood jobs are paying $11!
I was laughing with my wife the other day about the city we moved from. It's one of those places that you live there because you made your choices and for what ever reason, thats where you have to live. I saw a house for sale for 475 in that bitch the other day. 475 is definitely a "choose to live somewhere" price. It was weird to see a choose to live price in an ended up here ass city 😂
Maybe I'm out of touch, but there has to be at least some people in Channel Zero who earn more than $21 per hour. It's weird how every time I've dropped a well thought out solid break downs on economics, someone instantly points out there's some unlikely scenario why what I'm saying is nonsense.
I said paying rent months in advance wasn't a good look when you could be pocketing interest, and provided a pretty good financial breakdown. Someone chimed in like "yea, but what if you go on a months long bender, at least your rent is paid". I said investing now, to have more later is the way to go, another business tycoon said nah fam, you could be dead in a year anyway so a vacation is a better "investment".
I mean I'm not mad, I'm kind of blown away at how people in here legit think about economics. If I said having two $50 dollars bills was better than having one, someone would say the extra weight of the ink & paper wasn't worth it, and some pockets wouldn't be able to hold both bills. This shit is vast, and wild, and cool.
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Perfect example. Today some racist ass black dude came on a train in NYC looking for a fight. Starts to focus on a dude basically minding his own business. They start fighting, and the aggressor eventually pulls out a gun. The dude defending himself wrestles the gun away from him and caps him. Now the NYPD is deciding what they're going to charge the dude with for shooting the aggressor with his own gun.
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15 minutes ago, mr.yuck said:
@Mercer Those statements assume a lot about people looking to buy a home. The average income for men is 58k a year and women is 39k or some crazy shit. The average cost of homes right now is 417k.
You have to make $120k a year with almost 90k down to afford that house. The average couple is falling $23k short a year alone. That shit is wild to me.
I don't think the problem is people just waiting out the market because they don't want to spend the money, it's that they don't qualify in the first place.
You're assuming someone should buy an average median house. I'm not suggesting that. If asked, I'd suggest 1/3 to 1/2 your take home should be your mortgage but that has nothing to do with my overall point so I didn't break that down.
Depending on income you might need to live in a fixer upper like I did, somewhere in the hood, way out in the burbs, or in a condo. No matter what, fact is buying a below average home is still smarter than paying rent.
Here's a scenario that's easily availiable even in my expensive neck of the woods:
- $120K Condo
- 20% down ($24k)
- 7.7% interest on a 30 year
- $2700 property tax per year
- $2400 homeowners insurance a year
- $1114.08 a month mortgage with taxes/insurance included
Someone earning $39k a year can easily afford that by themselves, and still have some money left over. A $120k condo might not be ideal, but at least you won't be trying to paying a full rent when you're too old to work anymore, where the vast majority of us will eventually end up.
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SERIAL GRILLER
in Channel Zero
Posted
Whole City is in a meltdown. Nothing stops the grilling.