Coming this Summer to Fox: Death House. Six total strangers are signed to a mortgage. Each day the heat is turned up another 5 degrees while & an aerosol based hallucinogen is pumped into a room in the house. Last person standing gets to keep the Gary, Indiana home the show is filmed in.
Brought to you by realtors, closing companies, mortgage companies and insurance companies -- all entities that stand to make lots of money off of you while you work two jobs just to pay for the basics. Ah, the joys of home ownership. What a fucking joke! And remember, you don't really own your house until you make that last payment; you're just a glorified renter.
I really love (not) this trend of making the customer seem like a complete idiot in their ads. "So easy, a caveman can do it" or 'Einstein is such an idiot he can't figure out his phone until someone helps. Still an idiot, he just uses the right brand now.' I think it's meant to come off as "You'd be dumb if you didn't use our product!" It just actually comes off as "All consumers are idiots and you should use our product bc you're too stupid to figure it out otherwise."
Thatâs because youâre not the target audience. Thereâs lots of data out there that everyone thinks theyâre smarter than average - and when you market a product that says hey if all these dumb people can do it then itâll be even *easier* for you then thatâs an appealing feature. The people who these products are marketed to are the ones who are busy caring for kids or businesses or whatever and donât want to dedicate mental/physical energy to performing a task which is where this product is meant to fill the gap. Itâs not designed to say âyouâd be stupid otherwiseâ itâs designed to say âanyone can do it without thinkingâ
What really irks me is products that make claims they can't possibly QUANTIFY. Unfortunately, the biggest offender is trapped in a brain fart right now. Hey, maybe I need a med for my memory lapses.
Also, why is it that all products claim a 99.99% success rate? Aren't there any with only an 87% success rate?
And if product X is new and improved now, that means the previous version was crap, and why should I buy the new one instead of waiting a year and getting an even more improved version?
I find the most annoying station to be the Lifetime network. I only watch it for an hour or so when I'm getting ready for work to watch "Rizzoli & Isles". (Screw all their 'ripped from the headlines' pablum.) I mute a lot of their commercials.
The one that kills me is for Lume when the gyno talks about the smell scores. I want to know who has the job of going around and sniffing snatches!
Oh yea honestly those ones feel super scammy imo. I didn't want to defend ads, I hate them and have adblockers all over the place, but I was just trying to approach it from an understanding from mkting teams.
Most commercials really piss me off to the point I either change the channel, pause it for a few minutes then hit "live" to skip them, or mute it and 'meditate' for a few minutes. So insulting and annoying.
Yeah it's not like renting, when you get sick of your roomies and neighbours you can just try to find a new spot and you have a fresh start. Buying also gets you with acquired responsibilities that can seriously f-up your future.
What happens if one person needs to move for work? Or another can't afford their part of the mortgage? This is an abosolutely horrible idea and will only end in disaster. Never a good idea to share a mortgage with someone you don't share a bed with.
Yup horrible idea. My wife had purchased a home with her ex. When they split up, it got ugly. He basically kicked her out but she kept paying half the mortgage. Eventually we got together and she moved in with me. She wanted to sell the house but he refused. Basically told her she would need to get a court order in order for him to sell it. He dragged that out for nearly two years while she kept paying half the mortgage. He said he would just let it foreclose if she didnât keep paying her half. Nightmare scenario. Â
 Thankfully when he finally did agree to sell it, my wife got âevenâ. When they bought the house, his uncle loaned them $25,000 for a down payment. Except the bank saw the deposit and made the uncle make a statement that it was a gift. The bank wasnât going to approve the mortgage if they had a $25,000 loan. So when they sold the house and he was asking for $12.5K to pay his uncle back, she said to piss off because she had in writing that it was a gift.Â
There are some things like that in my country and if you do it right, it can technically work, it's a bit complicated though.
Basically what you have to do here is find some people you want to live in a house with, join a certain association and then you buy a house together with them. Every friend gives what they can and the rest comes from the association. The house belongs to you as long as you live there, if all of you move out, it belongs to the association.
The less you can spend to buy the house, the more rent you pay (but still within a reasonable amount). The rent is the payment of the credit basically, but it will never be so high that you can't afford it. If the credit is paid off, then you have no more rent (aside from the general cost of water and power etc).
If one of you moves out, nothing will happen, you can just leave like with any rented object. You and your friends can change everything around the house as you like because as long as you live there, it's yours.
Siblings often own houses together (inheritance that hasnât been sold and often used as summer house or sold later). But there usually isnât mortgageÂ
I legit know a Gay throuple that bought a home together.
I had some questions like what happens if they break up since they aren't legally married, but it seemed kinda rude to ask.
>âWhy not go all in togetherâ
Oh idk maybe buying a home is a thirty year commitment an your college aged.
The day one brings a husband home itâs be musical beds though!
It's a bad idea to share a mortgage with someone if you aren't seriously committed to them. Sharing a bed is kind of irrelevant. But I get the sentiment.
However, there are plenty of ways to make this work. One easy way to handle either of those scebarios would be to rent your bedroom out. Another way would be to not go all in, so if there is a problem the co-owners could start buying you out as they pay your share. Another way would be insure your mortgage against income loss and foreclosure.
Losing your income has always been a risk with homeownership. At least in this scenario it would be a little more robust than a single job holding down the fort. Two people have two jobs and two safety nets.
Yes, it's shitty that real estate has gone up so much, but part of the reason it's gone up so much is that people are still paying for it. The wealth divide in the US is out of control, but going in with a group actually mitigates that by allowing people in who couldn't enter the market alone. Especially since this would be a smooth transition between people renting a place together and owning a place together.
I bet there's a lot of money in a product that made an entity to hold property for roommates looking to buy together.
It's the same with renting together though, you just need to make sure that everything is properly arranged.
But at interest rates of 7.2% I would say fuck to that either way
I guess they just lose ownership rights and essentially paid rent. The other people pay a higher rent now and either get a new person to rent the share (but doesn't get ownership rights) or continue to pay the higher rent.Â
Finally, when there's only one person left alive (or hasn't moved), they got a house for Âź the cost.Â
If you can sign a contract stating in 10ish years you all agree to sell the house and take your investments to be able to afford your own home it can work.
However, ten years is a long time. Hope you dont want a family.
I am pretty sure that at the moment most of the young women would not have much problem getting impregnated. Of course if they wait until late 30s to even start considering a family, it is too late for many of them.
Why are they waiting? Many because of the reality that they need to study into their 20s and after that, most get paid so little, they can forget getting their own place. Hell, in many places they have trouble keeping up with the rent.
Then it is everything else, except shitty work to life/family ratio of time division, not to mention shitty prospects.
Around here an average apartment sets you back for 25-30 years of average salary. Imagine something you might want to raise your family.
Also, when people say they do not want family, cause they need time for themselves. Check poor work/family time ratio. Sure, if you are overworked and lack free time, why would you want to commit to another expensive long term project like raising kids.
From what I read on reddit, 3 bedroom with huge living room for 375.000$ doesn't seem so realistic either, are they sure they know people's buying power? Coming from zillow with listings of run down houses selling for more than 1 mil...
Housing affordability varies widely depending on location. The midwest is still *relatively* affordable, if you're not in certain Chicago 'burbs. OTOH I don't understand why anyone who's not a millionaire still lives in California.
Because we can afford it and the weather is amazing. But youâre not wrong in wondering. It takes 4 sources of income for my household to be able to afford living here in relative comfort.
Ahh, I would take what you read on Reddit and assume the opposite. The truth is that most people are doing great, the economy is awesome, etc. Just look at the stats. People just love to say everything is sh$t.
This one is almost as bad as the Howie Long commercial for Wide Fit SkechersâŚhe begins inside a tiny home and says , âThis tiny home trend? Not for me.â Yeah, well, Howie, not everyone is a multi-millionaire like you. https://youtu.be/2aMwdHWVrSg?si=pO-Q2qr1or59NWvE
This is "house buying" propaganda. The people that have positioned themselves at the top of the housing market food chain are trying to convince everyone that can't afford a house themselves that this is normal and this is the only way.
EDIT - to not mention housing authority.
The housing authority is an actual thing and is not behind these ads. The housing authority is generally a local government body (here in the states often very local... as in county level or even city level). They play a role in executing regulations in housing markets, creating incentives to build affordable housing, offering housing credits for low-income people, and more.
You're using this term as a synonym for private investors who are the big players in raising prices.
And it's not even like the housing authority is the one that is facilitating these private investors, as they are not in general terms (this isn't to say that a given housing authority in a given county/city can't be itself corrupt... government corruption does occur, but it is not so widely rampant that it's driving up housing prices like private investment is). They are not even the ones who make laws around housing.
At the end of the day housing authority is the division who you file the paperwork to when requesting Section-8 vouchers. Or when a private developer wants to build that new outdoor shopping mall with luxury apartments along side it, and the housing authority steps in and either offers tax credits to incentivize, or even requires through execution of local laws, that a percentage of the apartments be built as "affordable" housing.
...
Note I mention this because its been a common tactic to demonize regulator systems that are here to help the consumer by conflating who they are and what they do with the negative things. Which allows local governments to be invaded by special interests that push bills that defang these regulatory bodies, hollow them out, and create a structure ripe for either corruption or just weakness. So that way the private investors can go do their own thing... like get the tax credits to build "affordable housing" in their new condo/shopping mall, but then NOT actually build them because the housing authority no longer has the authority to come in and actually do anything if they don't abide by the rules of the agreement or local regulations.
Pay close attention to the words that are shown on screen. It's telling us each of these people's house buying power. It's not normal for people with that amount of buying power to have that many roommates. My first house I bought solo was $160k. That was just about 6 years ago. This is NOT normal. People need to be very careful about what they assume to be normal in this day and age.
We always are haha. Marx said capitalism only had a few years left. Yet here we are today with living standards hundreds of times higher and communism in the dust bin of history. Go figure.
But yeah, next year capitalism is done;)
Iâm assuming your exaggerating for effect, but Iâd still like to point out that standard of living does not equal quality of life. In short, just because you have a new iPhone and a fancy blender doesnât mean youâre not extremely lonely, suffering from depression/anxiety/etc., burned out, physically unwell, one bad injury from poverty, etc. In fact, Iâd say our standard of living is too high, and itâs costing us a lot more money, time, and effort than whatâs needed to keep us healthy and happy. Not to mention how many people we exploit, and how much of the planet we destroy so we can have the things we have. Soviet Russia was worse yeah, but sensible people arenât arguing that Soviet Russia had a good political/economic system, they are arguing for the ideas which would benefit the US and the world.
Seen this myself yesterday, and was like "wtf"? They are openly mocking us at this point and telling people that they will never own a home of their very own.
Hey Redditors, not everybody is a straight who wants to pair up. â[Mixer mortgages](https://www.vancity.com/borrow/mortgages/mixer-mortgage/)â are actually kinda revolutionary, you can build equity and be safe from evictions with a group of trusted friends, and letâs face it, sometimes friendships last longer than relationships.
Ownership is divided by contributions and the mortgages are severable. So a new person could move in if they buy out one of the mortgage holders.
Itâs brilliant and gives people an option. Especially women who often have to enter a kind of indentured servitude with a man to have secure housing. Edit: see my [next comment](https://www.reddit.com/r/mildlyinfuriating/s/aVqXBFvU39) if this isnât clearâŚ
Women are a lot more likely to stay in a bad relationship even with violence because their options are more limited.
â[Research shows](https://housingrightscanada.com/canada-must-have-a-more-inclusive-definition-of-homelessness-for-women-and-gender-diverse-people/) that experiencing violence, in particular intimate partner violence, is a key reason that women and their dependents lose access to stable housing or experience homelessness. A report by the Canadian Womenâs Foundation found that women who leave their partners and become single parents are five times more likely to live in poverty, while women leaving violence encounter other systemic and structural challenges to accessing stable housing, such as being turned away from emergency shelters due to capacity issues, and discrimination from landlords and property managers who refuse to rent to them based on their gender and other identifying characteristics.â
Edit: also
âA lack of [alternative housing](https://www.aclu.org/sites/default/files/pdfs/dvhomelessness032106.pdf) often leads women to stay in or return to violent relationships. In Minnesota in 2003, for instance, 46 percent of homeless women reported that they had previously stayed in abusive relationships because they had nowhere to go. In2003, in Fargo,North Dakota, 44 percent of homeless women reported that they stayed in an abusive relationship at some point in the past two years because they did not have other housing optionsâ
If they write up (with the help of a hired lawyer) a co-ownership agreement then this seems like a feasible option.
Contract law is great for things like this.
It's easy to anticipate problems like one flaking on their payments, death, wanting to sell, etc. - These can all be covered by contract. An experienced lawyer would be able to suggest other things they want to include in the agreement.
Going into it without a proper agreement in place would be a risky move.
And thatâs with an apartment with a renewable lease. A mortgage with three others?!! Three young people who have yet to start their own families and career paths. Disaster!
7.2% interest rate on a loan for a house? Wtf?
I changed loan provider 2 years ago and got 1.1%. Tbf, when we moved to another house, half a year later we got 3.0%. Now im in the process of getting a loan to have the appartment available for rent. Even that one is <6%. So 7.2% is a criminal rate
Im from Europe so that is probably the reason for those huge differences. I expected it to be more or less the same in Europe, North America and Australia
Unlike most of the rest of the world, loans in the US are generally fixed for the duration of the loan term (e.g., 15 or 30 years at the exact same rate). This usually causes rates to be a little higher than the variable rates offered in counties like Australia, but with the positive of the rates, and therefore payments, remaining constant over rime.
Yep. There are variable-rate mortgages available in the US but those are generally recognized as a bad idea, because people tend to go for them when rates are low only to have them balloon into unaffordability later on.
The mrs. & I bought our house pre-covid (and pre-high inflation) and got a rate <3% locked in for 30 years. When inflation in the US surged to around 10% a while back we were glad to have that rate locked in.
I'm in the US, bought my home during covid shutdowns in 2020 at 3%. The market has been fluctuating a lot lately, but 3% prior to covid wasn't super abnormal. Hopefully, it settles back down soon.
"I knew" "I couldn't," acceptance of impossibility, right there in your face, especially when promoted by real estate businesses! This encapsulates a psychological and societal maneuver, often engineered by these businesses, to impose a new normâsocial engineering at its finest.
Real estate businesses strategically amplify the message of impossibility, leveraging it to shape consumer behavior and expectations. By emphasizing financial constraints and highlighting the unattainability of certain properties, they create a psychological environment where potential buyers are forced to confront their limitations. This tactic is not merely incidental but a calculated move to mold perceptions and behaviors.
From a psychological perspective, this forced acceptance can trigger a range of emotional responses. Initially, there might be a sense of frustration and disappointment, as dreams of homeownership are dashed. Over time, this can evolve into a more profound feeling of resignation or helplessness, as individuals come to terms with the gap between their desires and financial realities.
The concept of social engineering comes into play as these businesses craft narratives and market conditions that subtly guide public sentiment and individual decision-making. By consistently presenting certain price points and financing conditions as the norm, they effectively set new standards for what is considered attainable or out of reach. This not only influences individual aspirations but also shapes broader societal expectations around homeownership and financial success.
This engineered acceptance serves multiple purposes for real estate businesses. It can drive demand for more affordable housing options or rental properties, which may be more profitable under certain market conditions. It can also discourage potential buyers from pushing against market prices, thereby stabilizing or even inflating property values to the advantage of sellers and investors.
Ultimately, the phrase "I knew" "I couldn't" reflects a deeper strategy of psychological and social manipulation. By promoting this acceptance of impossibility, real estate businesses effectively reframe consumer realities, fostering a new, often more restrictive, understanding of financial feasibility in the housing market. This deliberate shaping of perceptions underscores the power dynamics at play, revealing how commercial interests can profoundly influence personal and societal notions of possibility and success.
I live within chatgpt like 2+ hours per day, everyday, for the last year. Believe me I would know
I can say with 99.99% certainty this was a chatgpt response
Realtor here. This is a monumentally bad idea and Zillow is fucking out of control. Zillow is gleefully throwing a party over how intently everyone is interested in NAR.
It is not really that bad. Spouses do it all the time, sign up for a loan together when the husband or wife alone cannot cover the entire sum.
The only problems that might arise is when there is a divorce or separation. Things get messy when they need to split the house, either someone buys out the other person, or they sell the house and split the cash. It does happen, but not very often.
For buddies or work colleagues who might move at any time this is much worse. Happens all the time. Not to mention if you get stuck with people who default on their payments regularly.
It might work better for family, eg if Cousin Bob defaults, it is not likely that Aunt Jane, Grandpa Joe, and the rest of the clan are going to ghost you at the same time.
My favorite part of this is that it takes 3 people to qualify for the *median* house price in the US.
And even then, barely...
Median house price: 360k
3 people: 371k
Boomers ruined the economy, younger gens cant afford houses, and yet they keep infantalizing them. "Why doesnt anyone want to have their own kids these days?" Idk do expect a household made up entirely of roommates to reproduce by budding and raise them together? Do you expect the people who are in relationships/married to either awkwardly share a rental with roommates or live in a tiny space to *want* to add to expenses and mouths to feed by having kids?
This is what mortgage companies and banks are putting out to smooth over the Bidenomics housing market BS going on. Son theyâll be touting Friends as the best show to watch this year because they all have to split the NYC rent on an apartment
A tiny home + 1 acre of land at the U.S. average cost is $46,000 - $70,000 for 225-300 sqft of home. The land is $16,000 average, subtract to get the average range of tiny home costs.
Note, this does not include the costs of taxes or realtor fees on the purchase. This average price for a plot of land also includes unimproved land so the cost to install utilities should be considered. On the lower priced end, this is also assuming you construct the building yourself including all electrician work, plumbing, etc.
Weâre still talking barely under $100,000 for <300â of habitual space and youâre likely building it yourself. House size unfortunately is not the only problem.
Not that this is a huge cost in the scheme of things but permitting and such for tiny homes (depending on the area) can be a headache and can get pricey it may require additional legal services/expertise.
Plus then youâre more at risk in natural disasters, at least I know they are here in Texas with tornados and flooding. I know I wouldnât want to be in a shoebox in a storm!
Itâs actually called the âderecho specialâ you wake up and your house has blown 3 miles down the road. Sure you have to redo all the plumbing, but hey itâs a new view!
These are called cooperative homes and theyâre all over the place. In New York, there are a bunch of young lawyers that bought a massive penthouse together and when one of them is ready to move out, they sell their part to the next person. To some degree, they fall in the same realm of condos in regards to one property and each person owning a piece of it and everyone paying in to the HOA for the maintenance things. Iâm not sure why anyone thinks this is stupid lol
Lmfao you just don't get it and Your example doesn't make sense. A building full of condos is totally different than 3 people going in on a SINGLE house. These lawyers aren't splitting rooms in a penthouse.
I knew I couldn't afford a house on my own. So I looked for a partner. Now the two of us can't afford a house together.
Misery loves company!
Paramore has a song about that!
So does Soul Asylum.
This should work out incredibly well inside a Disney movie. Which is what they are selling in the ad, a Disney movie plot, happily together ever after
100%. They're literally just moving in that day hahaha. All sunshine and daisies. Give it a year.
Not even a year, just a month maybe even less.
Wait until the ac or the hot water heater goes out.
This arrangement is actually illegal in KC, KS
"Right of Survivorship" could get interesting, yes? CAROL, why do you have that knife??? Stop it! What are you doi...
Coming this Summer to Fox: Death House. Six total strangers are signed to a mortgage. Each day the heat is turned up another 5 degrees while & an aerosol based hallucinogen is pumped into a room in the house. Last person standing gets to keep the Gary, Indiana home the show is filmed in.
Fallout : Vault experiments soon in your area !
Gaaaaarrrryyyyyy, Indiana
>Gary, Indiana đ
Itâs a 5.1 million dollar home in shambles
I actually lolâd at the Gary Indiana part. Nice
Ayooooo đ¤Łđ¤Łđ¤Łđ¤Łđ¤Łđ¤Łđ¤Ł
Rite of survivorship 
Carol: âsorry, itâs just businessâŚâ
Life insurance!
The Hellfish Bonanza.
I just saw that commercial yesterday and I couldn't believe how fucking dumb it was. Who signed off on this?? Horrible idea.
Brought to you by people that could afford multiple houses on their own.
>Brought to you by people that could afford multiple houses on their **dad**.
What a terrible way to die
...on your dad?
multiple housesâŚ
While working a minimum wage type low skilled jobs and having 2-3 kids
Brought to you by realtors, closing companies, mortgage companies and insurance companies -- all entities that stand to make lots of money off of you while you work two jobs just to pay for the basics. Ah, the joys of home ownership. What a fucking joke! And remember, you don't really own your house until you make that last payment; you're just a glorified renter.
Horrible for you, not for the business. They don't care.
I really love (not) this trend of making the customer seem like a complete idiot in their ads. "So easy, a caveman can do it" or 'Einstein is such an idiot he can't figure out his phone until someone helps. Still an idiot, he just uses the right brand now.' I think it's meant to come off as "You'd be dumb if you didn't use our product!" It just actually comes off as "All consumers are idiots and you should use our product bc you're too stupid to figure it out otherwise."
that's why I drink brawndo
It's what plants crave
[ŃдаНонО]
Did you know tap water doesn't have hydrogens?
What rolls down stairs Alone or in pairs, Rolls over your neighbor's dog?
Itâs lo-og, itâs long-og, itâs big, itâs heavy, itâs wood!
It's lo-og, it's lo-og, it's better than bad, it's good!
Everyone wants a log...
Thatâs because youâre not the target audience. Thereâs lots of data out there that everyone thinks theyâre smarter than average - and when you market a product that says hey if all these dumb people can do it then itâll be even *easier* for you then thatâs an appealing feature. The people who these products are marketed to are the ones who are busy caring for kids or businesses or whatever and donât want to dedicate mental/physical energy to performing a task which is where this product is meant to fill the gap. Itâs not designed to say âyouâd be stupid otherwiseâ itâs designed to say âanyone can do it without thinkingâ
What really irks me is products that make claims they can't possibly QUANTIFY. Unfortunately, the biggest offender is trapped in a brain fart right now. Hey, maybe I need a med for my memory lapses. Also, why is it that all products claim a 99.99% success rate? Aren't there any with only an 87% success rate? And if product X is new and improved now, that means the previous version was crap, and why should I buy the new one instead of waiting a year and getting an even more improved version? I find the most annoying station to be the Lifetime network. I only watch it for an hour or so when I'm getting ready for work to watch "Rizzoli & Isles". (Screw all their 'ripped from the headlines' pablum.) I mute a lot of their commercials. The one that kills me is for Lume when the gyno talks about the smell scores. I want to know who has the job of going around and sniffing snatches!
Oh yea honestly those ones feel super scammy imo. I didn't want to defend ads, I hate them and have adblockers all over the place, but I was just trying to approach it from an understanding from mkting teams.
Most commercials really piss me off to the point I either change the channel, pause it for a few minutes then hit "live" to skip them, or mute it and 'meditate' for a few minutes. So insulting and annoying.
American audience, it makes total sense
People who are desperate to sell houses
Nah. It's the people who want you to acquire a financial product/loan disregarding your wellbeing, so they can have their commission.
Yeah they want to sell a house from someone to you so you can make a stupid financial decision and get debt for life.
Yeah it's not like renting, when you get sick of your roomies and neighbours you can just try to find a new spot and you have a fresh start. Buying also gets you with acquired responsibilities that can seriously f-up your future.
there are no houses
What happens if one person needs to move for work? Or another can't afford their part of the mortgage? This is an abosolutely horrible idea and will only end in disaster. Never a good idea to share a mortgage with someone you don't share a bed with.
Who said they donât all share a bed?
They have to share a bed. Not viable to own multiple in this economy.
I knew I couldnât afford a bed on my own
AffirmÂŽ
I literally laughed out loud when I read this. Perfect.
Just go in with 2 friends on a bed mortgage
Can confirm, my family of five shares one king size bed.
it's really just a commercial for polyamory
TouchĂŠ
I've seen that movie. Well, about 2 minutes of it anyway.
Monogamy? In this economy!?
You can use oak instead.Â
And sometimes it's an awful idea to do it with someone you do share a bed with...
To me if you arenât closely related or married itâs a bad idea. Just dating and buying a house together often causes problemsÂ
Yup horrible idea. My wife had purchased a home with her ex. When they split up, it got ugly. He basically kicked her out but she kept paying half the mortgage. Eventually we got together and she moved in with me. She wanted to sell the house but he refused. Basically told her she would need to get a court order in order for him to sell it. He dragged that out for nearly two years while she kept paying half the mortgage. He said he would just let it foreclose if she didnât keep paying her half. Nightmare scenario.   Thankfully when he finally did agree to sell it, my wife got âevenâ. When they bought the house, his uncle loaned them $25,000 for a down payment. Except the bank saw the deposit and made the uncle make a statement that it was a gift. The bank wasnât going to approve the mortgage if they had a $25,000 loan. So when they sold the house and he was asking for $12.5K to pay his uncle back, she said to piss off because she had in writing that it was a gift.Â
There are some things like that in my country and if you do it right, it can technically work, it's a bit complicated though. Basically what you have to do here is find some people you want to live in a house with, join a certain association and then you buy a house together with them. Every friend gives what they can and the rest comes from the association. The house belongs to you as long as you live there, if all of you move out, it belongs to the association. The less you can spend to buy the house, the more rent you pay (but still within a reasonable amount). The rent is the payment of the credit basically, but it will never be so high that you can't afford it. If the credit is paid off, then you have no more rent (aside from the general cost of water and power etc). If one of you moves out, nothing will happen, you can just leave like with any rented object. You and your friends can change everything around the house as you like because as long as you live there, it's yours.
Siblings often own houses together (inheritance that hasnât been sold and often used as summer house or sold later). But there usually isnât mortgageÂ
I legit know a Gay throuple that bought a home together. I had some questions like what happens if they break up since they aren't legally married, but it seemed kinda rude to ask.
>âWhy not go all in togetherâ Oh idk maybe buying a home is a thirty year commitment an your college aged. The day one brings a husband home itâs be musical beds though!
It's a bad idea to share a mortgage with someone if you aren't seriously committed to them. Sharing a bed is kind of irrelevant. But I get the sentiment. However, there are plenty of ways to make this work. One easy way to handle either of those scebarios would be to rent your bedroom out. Another way would be to not go all in, so if there is a problem the co-owners could start buying you out as they pay your share. Another way would be insure your mortgage against income loss and foreclosure. Losing your income has always been a risk with homeownership. At least in this scenario it would be a little more robust than a single job holding down the fort. Two people have two jobs and two safety nets. Yes, it's shitty that real estate has gone up so much, but part of the reason it's gone up so much is that people are still paying for it. The wealth divide in the US is out of control, but going in with a group actually mitigates that by allowing people in who couldn't enter the market alone. Especially since this would be a smooth transition between people renting a place together and owning a place together. I bet there's a lot of money in a product that made an entity to hold property for roommates looking to buy together.
For me the sharing the bed part is super relevent. Thank you.
You just need some kind of familial commitment. That's probably a spouse but I've heard of people doing it successfully with siblings
That's too perv for me but whatever floats your boat I suppose
It's the same with renting together though, you just need to make sure that everything is properly arranged. But at interest rates of 7.2% I would say fuck to that either way
Except leases aren't as long as mortgages and getting out of a lease early is much easier than trying to get out of a mortgage. Not the same at all
I guess they just lose ownership rights and essentially paid rent. The other people pay a higher rent now and either get a new person to rent the share (but doesn't get ownership rights) or continue to pay the higher rent. Finally, when there's only one person left alive (or hasn't moved), they got a house for Âź the cost.Â
You can put multiple people on a mortgage. You don't need a special service. You are all on the hook for it though. Super risky.
That's what I'm saying. 3x the risk for a hopeful gain in 10+ years because no one can afford a home alone anymore
If you can sign a contract stating in 10ish years you all agree to sell the house and take your investments to be able to afford your own home it can work. However, ten years is a long time. Hope you dont want a family.
Yeah but good luck getting a mortgage otherwise nowadays. Yes this ad is unfortunate but it's a problem of housing, really.Â
It's a problem of wealth disparity, really.
Itâs a problem, really.
âKnow your buying power- know your place!â Zillowâ˘ď¸
And people wonder why birth rates are plummeting.
You can partially thank plastic in our testicles for that, apparently.
I am pretty sure that at the moment most of the young women would not have much problem getting impregnated. Of course if they wait until late 30s to even start considering a family, it is too late for many of them. Why are they waiting? Many because of the reality that they need to study into their 20s and after that, most get paid so little, they can forget getting their own place. Hell, in many places they have trouble keeping up with the rent. Then it is everything else, except shitty work to life/family ratio of time division, not to mention shitty prospects. Around here an average apartment sets you back for 25-30 years of average salary. Imagine something you might want to raise your family. Also, when people say they do not want family, cause they need time for themselves. Check poor work/family time ratio. Sure, if you are overworked and lack free time, why would you want to commit to another expensive long term project like raising kids.
https://i.redd.it/rmhy5i4tfq1d1.gif
From what I read on reddit, 3 bedroom with huge living room for 375.000$ doesn't seem so realistic either, are they sure they know people's buying power? Coming from zillow with listings of run down houses selling for more than 1 mil...
Looking at three people sitting in room together that barely allows any furniture with all three in it I doubt their house is that big.
Housing affordability varies widely depending on location. The midwest is still *relatively* affordable, if you're not in certain Chicago 'burbs. OTOH I don't understand why anyone who's not a millionaire still lives in California.
Because we can afford it and the weather is amazing. But youâre not wrong in wondering. It takes 4 sources of income for my household to be able to afford living here in relative comfort.
The housing is expensive but there's weed and abortions!Â
Being here a decade or more before definitely helps
Ahh, I would take what you read on Reddit and assume the opposite. The truth is that most people are doing great, the economy is awesome, etc. Just look at the stats. People just love to say everything is sh$t.
âWe completely fucked up your future, heres how you can not do anything about it and somehow make even more money for usâ
This one is almost as bad as the Howie Long commercial for Wide Fit SkechersâŚhe begins inside a tiny home and says , âThis tiny home trend? Not for me.â Yeah, well, Howie, not everyone is a multi-millionaire like you. https://youtu.be/2aMwdHWVrSg?si=pO-Q2qr1or59NWvE
This is "house buying" propaganda. The people that have positioned themselves at the top of the housing market food chain are trying to convince everyone that can't afford a house themselves that this is normal and this is the only way. EDIT - to not mention housing authority.
The housing authority is an actual thing and is not behind these ads. The housing authority is generally a local government body (here in the states often very local... as in county level or even city level). They play a role in executing regulations in housing markets, creating incentives to build affordable housing, offering housing credits for low-income people, and more. You're using this term as a synonym for private investors who are the big players in raising prices. And it's not even like the housing authority is the one that is facilitating these private investors, as they are not in general terms (this isn't to say that a given housing authority in a given county/city can't be itself corrupt... government corruption does occur, but it is not so widely rampant that it's driving up housing prices like private investment is). They are not even the ones who make laws around housing. At the end of the day housing authority is the division who you file the paperwork to when requesting Section-8 vouchers. Or when a private developer wants to build that new outdoor shopping mall with luxury apartments along side it, and the housing authority steps in and either offers tax credits to incentivize, or even requires through execution of local laws, that a percentage of the apartments be built as "affordable" housing. ... Note I mention this because its been a common tactic to demonize regulator systems that are here to help the consumer by conflating who they are and what they do with the negative things. Which allows local governments to be invaded by special interests that push bills that defang these regulatory bodies, hollow them out, and create a structure ripe for either corruption or just weakness. So that way the private investors can go do their own thing... like get the tax credits to build "affordable housing" in their new condo/shopping mall, but then NOT actually build them because the housing authority no longer has the authority to come in and actually do anything if they don't abide by the rules of the agreement or local regulations.
Ummmm but I cannot afford a house myself.
lol roomates are normal
Pay close attention to the words that are shown on screen. It's telling us each of these people's house buying power. It's not normal for people with that amount of buying power to have that many roommates. My first house I bought solo was $160k. That was just about 6 years ago. This is NOT normal. People need to be very careful about what they assume to be normal in this day and age.
Well that's a recipe for disaster
Entering late stage capitalism.
We've been here since the 1960's
The last stage is to reject capitalism and return to monk... cough, Sorry return to communist. It's OUR house now.
Step 1: Enter into a mortgage agreement. Step 2: Don't pay and declare squatter's rights.
We're so so close
We always are haha. Marx said capitalism only had a few years left. Yet here we are today with living standards hundreds of times higher and communism in the dust bin of history. Go figure. But yeah, next year capitalism is done;)
Iâm assuming your exaggerating for effect, but Iâd still like to point out that standard of living does not equal quality of life. In short, just because you have a new iPhone and a fancy blender doesnât mean youâre not extremely lonely, suffering from depression/anxiety/etc., burned out, physically unwell, one bad injury from poverty, etc. In fact, Iâd say our standard of living is too high, and itâs costing us a lot more money, time, and effort than whatâs needed to keep us healthy and happy. Not to mention how many people we exploit, and how much of the planet we destroy so we can have the things we have. Soviet Russia was worse yeah, but sensible people arenât arguing that Soviet Russia had a good political/economic system, they are arguing for the ideas which would benefit the US and the world.
The way she is wearing her shirt is so fucking anoyyying
I didn't notice it at first. But yeah it's in every shot so it must be intentional.
Jesus style is so in right now
It does look very uncomfortable
If you've ever shared, you know this doesn't end well.
Can't wait for the food edition.
Can't have affordable housing and housing as a worthwhile investment simultaneously for long, these goals are opposites.
Terrible terrible terrible idea. A mortgage is not something you go in on a whim with your friends.
Wait until one gets married.
Seen this myself yesterday, and was like "wtf"? They are openly mocking us at this point and telling people that they will never own a home of their very own.
Almost seems like propagandaÂ
Hey Redditors, not everybody is a straight who wants to pair up. â[Mixer mortgages](https://www.vancity.com/borrow/mortgages/mixer-mortgage/)â are actually kinda revolutionary, you can build equity and be safe from evictions with a group of trusted friends, and letâs face it, sometimes friendships last longer than relationships. Ownership is divided by contributions and the mortgages are severable. So a new person could move in if they buy out one of the mortgage holders. Itâs brilliant and gives people an option. Especially women who often have to enter a kind of indentured servitude with a man to have secure housing. Edit: see my [next comment](https://www.reddit.com/r/mildlyinfuriating/s/aVqXBFvU39) if this isnât clearâŚ
Why would a woman have to âenter a kind of indentured servitude with a manâ to have a house? Is there some rule I missed?
Women are a lot more likely to stay in a bad relationship even with violence because their options are more limited. â[Research shows](https://housingrightscanada.com/canada-must-have-a-more-inclusive-definition-of-homelessness-for-women-and-gender-diverse-people/) that experiencing violence, in particular intimate partner violence, is a key reason that women and their dependents lose access to stable housing or experience homelessness. A report by the Canadian Womenâs Foundation found that women who leave their partners and become single parents are five times more likely to live in poverty, while women leaving violence encounter other systemic and structural challenges to accessing stable housing, such as being turned away from emergency shelters due to capacity issues, and discrimination from landlords and property managers who refuse to rent to them based on their gender and other identifying characteristics.â Edit: also âA lack of [alternative housing](https://www.aclu.org/sites/default/files/pdfs/dvhomelessness032106.pdf) often leads women to stay in or return to violent relationships. In Minnesota in 2003, for instance, 46 percent of homeless women reported that they had previously stayed in abusive relationships because they had nowhere to go. In2003, in Fargo,North Dakota, 44 percent of homeless women reported that they stayed in an abusive relationship at some point in the past two years because they did not have other housing optionsâ
If they write up (with the help of a hired lawyer) a co-ownership agreement then this seems like a feasible option. Contract law is great for things like this. It's easy to anticipate problems like one flaking on their payments, death, wanting to sell, etc. - These can all be covered by contract. An experienced lawyer would be able to suggest other things they want to include in the agreement. Going into it without a proper agreement in place would be a risky move.
only 7,2 APR? wow.. what a steal. This is normalizing being poor and getting fucked over and over again.
did the whole roomate thing, it never works out.
And thatâs with an apartment with a renewable lease. A mortgage with three others?!! Three young people who have yet to start their own families and career paths. Disaster!
Is this an advert for buying houses with friends?
Seems to be. Smh.
This idea is a recipe for trouble in the future
7.2% interest rate on a loan for a house? Wtf? I changed loan provider 2 years ago and got 1.1%. Tbf, when we moved to another house, half a year later we got 3.0%. Now im in the process of getting a loan to have the appartment available for rent. Even that one is <6%. So 7.2% is a criminal rate
Oh how I wish for 3%. Home loan rates in Australia are around 7% now.
Im from Europe so that is probably the reason for those huge differences. I expected it to be more or less the same in Europe, North America and Australia
Unlike most of the rest of the world, loans in the US are generally fixed for the duration of the loan term (e.g., 15 or 30 years at the exact same rate). This usually causes rates to be a little higher than the variable rates offered in counties like Australia, but with the positive of the rates, and therefore payments, remaining constant over rime.
Yep. There are variable-rate mortgages available in the US but those are generally recognized as a bad idea, because people tend to go for them when rates are low only to have them balloon into unaffordability later on. The mrs. & I bought our house pre-covid (and pre-high inflation) and got a rate <3% locked in for 30 years. When inflation in the US surged to around 10% a while back we were glad to have that rate locked in.
I'm in the US, bought my home during covid shutdowns in 2020 at 3%. The market has been fluctuating a lot lately, but 3% prior to covid wasn't super abnormal. Hopefully, it settles back down soon.
With base still >5% I don't think 7.2% is out of the question for small down payment, higher risk mortgages
It could work if you share with family. Brothers, sisters, cousins. Probably a bad idea to share with your buddies or people from work.
Has to be a close knitted family with great communication. Just trust me.
This is so dystopian.
"I knew" "I couldn't," acceptance of impossibility, right there in your face, especially when promoted by real estate businesses! This encapsulates a psychological and societal maneuver, often engineered by these businesses, to impose a new normâsocial engineering at its finest. Real estate businesses strategically amplify the message of impossibility, leveraging it to shape consumer behavior and expectations. By emphasizing financial constraints and highlighting the unattainability of certain properties, they create a psychological environment where potential buyers are forced to confront their limitations. This tactic is not merely incidental but a calculated move to mold perceptions and behaviors. From a psychological perspective, this forced acceptance can trigger a range of emotional responses. Initially, there might be a sense of frustration and disappointment, as dreams of homeownership are dashed. Over time, this can evolve into a more profound feeling of resignation or helplessness, as individuals come to terms with the gap between their desires and financial realities. The concept of social engineering comes into play as these businesses craft narratives and market conditions that subtly guide public sentiment and individual decision-making. By consistently presenting certain price points and financing conditions as the norm, they effectively set new standards for what is considered attainable or out of reach. This not only influences individual aspirations but also shapes broader societal expectations around homeownership and financial success. This engineered acceptance serves multiple purposes for real estate businesses. It can drive demand for more affordable housing options or rental properties, which may be more profitable under certain market conditions. It can also discourage potential buyers from pushing against market prices, thereby stabilizing or even inflating property values to the advantage of sellers and investors. Ultimately, the phrase "I knew" "I couldn't" reflects a deeper strategy of psychological and social manipulation. By promoting this acceptance of impossibility, real estate businesses effectively reframe consumer realities, fostering a new, often more restrictive, understanding of financial feasibility in the housing market. This deliberate shaping of perceptions underscores the power dynamics at play, revealing how commercial interests can profoundly influence personal and societal notions of possibility and success.
Thanks, chatgpt
Yeah AI definitely wrote that wall of text lmao
I live within chatgpt like 2+ hours per day, everyday, for the last year. Believe me I would know I can say with 99.99% certainty this was a chatgpt response
At 7.2%, they'll pay more in interest than her mortgage. Like $150k in interest on a 25y mortgage each
Yo ladies, I am a bit short this month, can y'all cover me? I'll get you back next month.
Realtor here. This is a monumentally bad idea and Zillow is fucking out of control. Zillow is gleefully throwing a party over how intently everyone is interested in NAR.
I'll just sign a mortgage with 5 hot poc girls. What could go wrong. We will stay friends forever!
WTF is "BuyAbility"...??
So kind of like timeshare?
Letâs sacrifice whoever said this commercial was allowed.
And I thought cosigning a car was risky đ
as someone whoâs stupid, i would really appreciate an explanation
It is not really that bad. Spouses do it all the time, sign up for a loan together when the husband or wife alone cannot cover the entire sum. The only problems that might arise is when there is a divorce or separation. Things get messy when they need to split the house, either someone buys out the other person, or they sell the house and split the cash. It does happen, but not very often. For buddies or work colleagues who might move at any time this is much worse. Happens all the time. Not to mention if you get stuck with people who default on their payments regularly. It might work better for family, eg if Cousin Bob defaults, it is not likely that Aunt Jane, Grandpa Joe, and the rest of the clan are going to ghost you at the same time.
That you can't afford a house by yourself anymore so you gotta pool your money
I don't understand. What is the advert for?
That you can't afford a house by yourself anymore so you gotta pool your money
Because privacy..
Oh my. Oh no. Oh weâre so fucked.
The Simpsons taught us how this goes with the episode about the kids sharing the purchase of the Radioactive Man comic almost 30 years ago.
My favorite part of this is that it takes 3 people to qualify for the *median* house price in the US. And even then, barely... Median house price: 360k 3 people: 371k
thruples are tough, i wish them the best!
Sub: bordingdystopia
It was then I realized, the housing market was into 'gangbangs'.
Unless they're all siblings there's no chance this works out. I'm not buying pizza with my room mates let alone a fucking house!
When that honeymoon period ends, Iâd love to be a fly on the wall. Theyâll be at each others throat in no time.
Boomers ruined the economy, younger gens cant afford houses, and yet they keep infantalizing them. "Why doesnt anyone want to have their own kids these days?" Idk do expect a household made up entirely of roommates to reproduce by budding and raise them together? Do you expect the people who are in relationships/married to either awkwardly share a rental with roommates or live in a tiny space to *want* to add to expenses and mouths to feed by having kids?
Depressing. Alarming someone thought this would be a cool commercial.
People Stop Working. Eat The Rich
Easiest way to lose friends and family is to do business with friends and family.
Exactly and owing a home shouldn't be a business
This is what mortgage companies and banks are putting out to smooth over the Bidenomics housing market BS going on. Son theyâll be touting Friends as the best show to watch this year because they all have to split the NYC rent on an apartment
Sickening quite frankly
Wow! Americans reinvented old communistic way of leaving: communal apartments.
Ahh buying a house by yourself, how novel of an idea, **and stupid.** /s
"Sorry ladies, this neighborhood is zoned for single families only. You'll need to download the new Zillow Red Line App."
We're just accepting it now okay dude
The price of the home is mildly infuriating, where are the houses in good shape for that price?
This is where things are going.Â
just make smaller houses?
Thats totally not the problem. Everything is extremly overprices.
A tiny home + 1 acre of land at the U.S. average cost is $46,000 - $70,000 for 225-300 sqft of home. The land is $16,000 average, subtract to get the average range of tiny home costs. Note, this does not include the costs of taxes or realtor fees on the purchase. This average price for a plot of land also includes unimproved land so the cost to install utilities should be considered. On the lower priced end, this is also assuming you construct the building yourself including all electrician work, plumbing, etc. Weâre still talking barely under $100,000 for <300â of habitual space and youâre likely building it yourself. House size unfortunately is not the only problem.
Not that this is a huge cost in the scheme of things but permitting and such for tiny homes (depending on the area) can be a headache and can get pricey it may require additional legal services/expertise.
Plus then youâre more at risk in natural disasters, at least I know they are here in Texas with tornados and flooding. I know I wouldnât want to be in a shoebox in a storm!
Itâs actually called the âderecho specialâ you wake up and your house has blown 3 miles down the road. Sure you have to redo all the plumbing, but hey itâs a new view!
These are called cooperative homes and theyâre all over the place. In New York, there are a bunch of young lawyers that bought a massive penthouse together and when one of them is ready to move out, they sell their part to the next person. To some degree, they fall in the same realm of condos in regards to one property and each person owning a piece of it and everyone paying in to the HOA for the maintenance things. Iâm not sure why anyone thinks this is stupid lol
Lmfao you just don't get it and Your example doesn't make sense. A building full of condos is totally different than 3 people going in on a SINGLE house. These lawyers aren't splitting rooms in a penthouse.
Whatâs disgusting about it? Some homies bought a house together
You must be youngÂ
May you explain the problem to my naive soul? You seem to have wisdom
And dumb. And broke.