Dear folks who wish you owned your own home

sockgirl77

sockgirl77

Well-Known Member
LibertyBeacon said:
Oh, rental properties!

BACK UP THE BRINKS TRUCK!

You are doing it wrong if you have to pay off anything. On the right side of the bell curve, we pay cash for houses. Starting to figure it out, Suze Orman?

:killingme :lol:
Click to expand...

You have a few hundred thousand just sitting around?
 
sockgirl77

sockgirl77

Well-Known Member
LibertyBeacon said:
Well, that's one way to spin it.

Yet another way would to be recognize that real unemployment is around 25%, probably on the way to 30% before the bottom falls out of this thing. No one can afford to buy a house because no one is working. Combine that with the giving away of mortgages to anyone with a pulse, and having to ratchet back on that banking (and the entire cottage industry to include land developers and construction firms) windfall.

My objection is not to homeownership in and of itself. Rather on the contrary. My objection is to using leverage and paying a vig for money that does nothing but provide a roof over my head. My house is not an investment; it serves a utilitarian purpose: to give me a place to live.

Delay gratification. Rent young and save, save, save aggressively. Then pay cash for the house of your choice, house of your dreams in fact.
Click to expand...

Judging by your math, 70-75% of people are working.
 
Baja28

Baja28

Obama destroyed America
LibertyBeacon said:
Oh, rental properties!

BACK UP THE BRINKS TRUCK!

You are doing it wrong if you have to pay off anything. On the right side of the bell curve, we pay cash for houses. Starting to figure it out, Suze Orman?
:killingme :lol:
Click to expand...
:whoosh: Yea I figured it out. I've been away from these boards for awhile but nothing changed. You're still a clueless dolt. Now run along and make sure you have enough money in the bank for your rent. I'll peek at my online account in anticipation of your rent check coming to me, but first I'm taking a mini fishing vacation because I don't have to worry about a $2,500.00 rent/mort. payment being due. Thanks again pal! :high5: :killingme
 
LibertyBeacon

LibertyBeacon

Unto dust we shall return
Baja28 said:
:whoosh: Yea I figured it out. I've been away from these boards for awhile but nothing changed. You're still a clueless dolt. Now run along and make sure you have enough money in the bank for your rent. I'll peek at my online account in anticipation of your rent check coming to me, but first I'm taking a mini fishing vacation because I don't have to worry about a $2,500.00 rent/mort. payment being due. Thanks again pal! :high5: :killingme
Click to expand...

:killingme :lol:
 
Baja28

Baja28

Obama destroyed America
LibertyBeacon said:
Well, that's one way to spin it.

Yet another way would to be recognize that real unemployment is around 25%, probably on the way to 30% before the bottom falls out of this thing. No one can afford to buy a house because no one is working. Combine that with the giving away of mortgages to anyone with a pulse, and having to ratchet back on that banking (and the entire cottage industry to include land developers and construction firms) windfall.

My objection is not to homeownership in and of itself. Rather on the contrary. My objection is to using leverage and paying a vig for money that does nothing but provide a roof over my head. My house is not an investment; it serves a utilitarian purpose: to give me a place to live.

Delay gratification. Rent young and save, save, save aggressively. Then pay cash for the house of your choice, house of your dreams in fact.
Click to expand...
Yes because every young person is making SOOOOO much money that they can pay the rent AND sock away a fortune to go buy their dream house in 30 years. Wait....didn't you just say the unemployment rate is 25%?? What's the guarantee they'll even live to see old age? Like I say, if stupid hurt, you'd be doubled over in pain.

ORRRRR..... they could take advantage of the very low interest rates now, buy a nice house, own it in 15, 20-25 years, use the equity however they see fit, send the old payment to their bank account, take out another mortgage, buy a rental and have some sap like you pay that off for them too. Gee, why didn't I think of that?? Oh wait....:killingme
 
LibertyBeacon

LibertyBeacon

Unto dust we shall return
Baja28 said:
Yes because every young person is making SOOOOO much money that they can pay the rent AND sock away a fortune to go buy their dream house in 30 years. Wait....didn't you just say the unemployment rate is 25%?? What's the guarantee they'll even live to see old age? Like I say, if stupid hurt, you'd be doubled over in pain.

ORRRRR..... they could take advantage of the very low interest rates now, buy a nice house, own it in 15, 20-25 years, use the equity however they see fit, send the old payment to their bank account, take out another mortgage, buy a rental and have some sap like you pay that off for them too. Gee, why didn't I think of that?? Oh wait....:killingme
Click to expand...

Let me guess: you're paying 3% on your money and you think that's just fantastic!

:killingme :lol:
 
LibertyBeacon

LibertyBeacon

Unto dust we shall return
Baja28 said:
Yes because every young person is making SOOOOO much money that they can pay the rent AND sock away a fortune to go buy their dream house in 30 years. Wait....didn't you just say the unemployment rate is 25%?? What's the guarantee they'll even live to see old age? Like I say, if stupid hurt, you'd be doubled over in pain.

ORRRRR..... they could take advantage of the very low interest rates now, buy a nice house, own it in 15, 20-25 years, use the equity however they see fit, send the old payment to their bank account, take out another mortgage, buy a rental and have some sap like you pay that off for them too. Gee, why didn't I think of that?? Oh wait....:killingme
Click to expand...

And good on ya, by the by. It's good for the little people to stroke themselves and pretend they are The Donald Trump every now and then. Makes you feel like you're getting a piece of that pie. And if it gets ya laid, all the better.

I'm extra hungry today Mr. Pizza Man. Can you cut that pie into 16 slices instead of the usual 8?
 
Baja28

Baja28

Obama destroyed America
LibertyBeacon said:
And good on ya, by the by. It's good for the little people to stroke themselves and pretend they are The Donald Trump every now and then. Makes you feel like you're getting a piece of that pie. And if it gets ya laid, all the better.

I'm extra hungry today Mr. Pizza Man. Can you cut that pie into 16 slices instead of the usual 8?
Click to expand...
This is all you have? Seriously? Sucks to to have your ass handed to you on a platter by a little person huh? :poorbaby:
 
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C

czygvtwkr

Guest
LibertyBeacon said:
Well, that's one way to spin it.

Yet another way would to be recognize that real unemployment is around 25%, probably on the way to 30% before the bottom falls out of this thing. No one can afford to buy a house because no one is working. Combine that with the giving away of mortgages to anyone with a pulse, and having to ratchet back on that banking (and the entire cottage industry to include land developers and construction firms) windfall.

My objection is not to homeownership in and of itself. Rather on the contrary. My objection is to using leverage and paying a vig for money that does nothing but provide a roof over my head. My house is not an investment; it serves a utilitarian purpose: to give me a place to live.

Delay gratification. Rent young and save, save, save aggressively. Then pay cash for the house of your choice, house of your dreams in fact.
Click to expand...

I waited a bit to buy a house, but it was to make sure that my job wasn't cut in the last BRAC. I will tell you that I paid $12k a year in federal income taxes as a renter, the next year I paid $5k and to top it off my income had gone up. I bought a house that had a payment of about 25% of my monthly net income, after all the numbers were ran I came out ahead by quite a bit over renting. The payment/insurance and property taxes are more stable than my rent was also.

I am a big advocate that a house is terrible as an investment, but great as a place to call home, but even after 25 years or so and my house is worth $0 I still come out ahead of the game.
 
sockgirl77

sockgirl77

Well-Known Member
I get to paint my walls, have chickens, plant a garden, paint the ugly red shutters black, and bust down walls. :yahoo:
 
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