This shack in a west coast American city cost $520,000. Would you buy it?

This shack in a west coast American city cost $520,000. Would you buy it?

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depends, what is it worth?

If I had $520,000 to throw away? Sure

I'd buy it, and rent out to commiefornians and other liberal scum. Every year - rent increase :) kek

Fuck no. Too many fags and tech weirdos in SF

property tax is high

I legit just bought a shithole for 500k and I don't even get to live near an ocean. US real estate is fucking silliness.


What's the best state in the western USA to buy investment/rental property?

no - I'd buy 2 or 3 good condition restored homes in good neighborhoods in Detroit and rent. Bigger upside.

Looks like it is either in SF or one of the beach areas in SoCal like Redondo or Manhattan.

The SoCal beach areas are pretty chill though.

What is Venice

What the fuck is that shithole and for $520,000? You could get a fucking mansion with statues and shit in my country for that kind of money.

kek is that newport beach?

yea, just rent it out to hipster cali numales on trust funds, NPV is unironically positive

Looks pretty good, unironically. For that price you'd hope it was in a great area with lots going on, & if so, that's a fair price if not cheap. My friend just sold a small London flat above a cafe, probably similar size to pic related for 850k, mostly cause of the location.

You see we have this class of people known as 'boomers' who have driven up real estate prices to unsustainable levels and then expect the younger generations to pay for it with a shittier quality of life than they had.

Are you actually serious about that price? That shack would be up for demolition in my country, what the shit?

I feel bad for you americans. A shitshack like that would literally cost

lol you can buy this for that money here, with lake view. You burgers are fucked

yeah but then you'd be living in fucking argentina which is literally pajeet tier

I think values are probably going to turn around soon. In CO we're seeing values start to flatten out. Probably Idaho, Salt Lake City, Las Vegas, or phoenix

I know where in burger land I can snatch one up AKA buy the land and build my own house.

>live in a mansion outside of infested shitholes in pajeet country
>live in an actual shithole in the Glorious White World
First option seems more appealing. When you're well-off, sanitary supplies and electricity are secured and you don't have to mingle with subhumans, who the fuck would prefer the second option?

location matters more than anything else

you could just not live in fucking san francisco? why would you ever want to live in fucking argentina

>buy it
>get it commercially zoned
>flip for almost twice what I paid

This is San Francisco. That blue house is the style of like all the houses in the Sunset neighborhood.

Crypto faggots if you made money time to buy real estate, houses, apartments. We are going 200mph towards a new housing bubble. Get in and get out fast and double your money

The land is the expensive part

this. We have about 2 years left before the shit explodes and real estate becomes dirt fucking cheap.

Work force participation for millennials is at lowest levels every, wages are stagnant, yet cost of buying a home is more expensive then ever. Even major Tech employees are finding it challenging to afford real estate where they work. Shit will be yellowstone tier

Look for land with development potential. Bonus points if you're near a hospital

LA is such a shit show

anyone got that poop map of LA? showing the poop hotspots

>pour in millions and millions of shitskins with high birth rates
>housing prices go up
>boomers think this is "economic growth"

If I had the money to invest in gutting it, and building a second story onto it, yes. You could invest $250k into it, and sell it for 3 times the total investment in the current market.

This is the property for sale, not the actual structure. Some Facebook millionaire will be living there within a year, in a completely different building.

>da boomers are increasing da prices
you're so delusional and im not even a boomer, the fuck are old people doing to increase prices so what they lived in a old generation, capitalism was still a sample candy not even made properly yet.

Nice cuckshed.

Surely the housing market isn't forming another bubble? It happened in 2008, it couldn't possibly be allowed to happen again.

I live in london, and for 400k GBP you could get a 1 bed in east central that will be 100x nice and cleaner than the shithole in OP. London prices are extortionate but at least every other city is affordable in UK, in America it's beyond a joke now.

Where is this?

You're like a little baby. Here, watch this.

With that money you can buy a luxurious house in Europe

>You guys haven't taken the cost of materials pill
So basically right now there is a glut of luxury apartments and multifamily condos because lumber is so expensive rn and the difference in cost for lower to middle income housing to luxury housing is an additional $10-15k but the ROI is much higher for obvious reasons, so plebs clamor for any form of housing that seems reasonable. Coastal California you are looking at a million for anything respectable in peak market. The trees that matured from 2008-2009 are getting eaten up by the market, but once the trees from 2012 onward reach the market we will see downward movement in the middle and lower markets.

Why don't they just build more bathrooms or create that dorm thing like Utah?

I've always wondered this. What is the actual material cost of some wood, plaster, and dry wall. I feel like it would be under $100k. The housing market is so fucking stupid.

I feel like pre-1990s a modest house close to the beach wasn't an outrageous goal.

no boomer NIMBYs essentially eliminated property tax with prop 13 because they want to continue being rent seeking faggots and drive the prices up literally 10x with zero risk

because mentally ill junkies (redundant) will smear shit on the walls, stab each other over sleeping in the bathroom, rape each other in there, and OD on fentanyl in there

retarded taxpayers are too stupid to realize if they just made a state institution and permanently put any homeless person there who commits a crime it would actually save BILLIONS

I am not exaggerating the state of CA spends about 2-3 billion a year on homelessness to basically no avail when they really just need to round them up and put them in a mental institution

>not banging roastie sluts in your apartment
You could get a 600 square foot upscale apartment near canary wharf for that what a fucking joke America is, LOL

>las vegas
Didn't LV real estate get absolutely devastated in the housing crash? Aren't vacancy rates super high?

>all the other states solve their own homeless problem by literally shipping them all on buses to commiefornia which has very lenient laws regarding hobos and they never want to leave because of it.

yea but then youd have to live in a faggoty place called canary wharf

Isn't this how things were done in the US for most of its history up until around the 1980s?

it depends on the location obviously

>pour in millions and millions of shitskins with high birth rates
>>housing prices go up
>>boomers think this is "economic growth"
its the neo-Veeky Forumsness district of london bro.

Pic related is a 10 minute walk away.
So you could rent it to rich traders.
Down side is its also in the tower hamlets borough which has quite a few sharia zones

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