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People need to get back to their roots. Buy and build cash. If you can't afford a 3 bedroom house then tough . Don't have 2 kids.
In So Cal the numbers are probably worse…Banks are making a push to get foreclosures through while real estate prices are so high…Good sign that a price correction is in sight…
People need to get back to their roots. Buy and build cash. If you can't afford a 3 bedroom house then tough . Don't have 2 kids.
Like you'd know. You're living rent-free in a cucktainer in the backyard.
No you're not. Simpleton.
Do you seriously not know the difference between taxes and mortgage?
Was this the rationale you provided your wife for not wanting to buy a house?
Nothing wrong with renting. But make no mistake, when you buy a house, you own the house. And once it's paid off, you REALLY own it.
Lol you're forever paying taxes on a home you've already paid off.
You don't pay those taxes, you get kicked out.
aside from having to pay for all the repairs as an "owner", explain how that's different from rent.
You want me to explain the differences between owning a home/paying taxes and renting?
As a homeowner who owns multiple properties that are rentals, and paying my repair expenses for my home and rentals, I'd probably just rent if I ever shed these properties.
The principle, yeah sure if you're gonna go with simpleton
Yeah when those a/c units go out...
That's exactly why I don't think I'll explain it to you. I could try to teach my dog The Pythagorean Theorum and while she might be able to regurgitate the formula back, she wouldn't understand it.
I've dropped 20k on HVAC in the last year.
Yep.
Maintenance can be a .
K. The poop jokes are more your thing any way.
.. Closing on a house in the next month, HVAC replacement was the main thing I demanding they fix and she budged. Not trying to worry about that for a while.I've dropped 20k on HVAC in the last year.
People are also just ing morons.
I worked for almost 5 years in Bank of America's default mortgage department. I've seen the worst of the mortgage industry collapse. Some of the idiots who would ask for assistance on their loan are god damn nearly brain dead.. don't make a mortgage payment in 3 years, then start threatening to hire an attorney because you just found out you're getting foreclosed on Monday? Check.. add in my mother in law to the mortgage because of her income, but disclose to the bank that she was just to help you qualify and had no intention of splitting the cost of the mortgage as you're threatening to sue them..
Also saw some of the most extreme while I was there.. in home suicides stopping the sale of the home.. People threatening to burn the house down, then doing it.. etc
how much u clowns still owe?
im 130k
hmmm. about 280K on the house but I could quick sell it for a half mil if I needed to. That being said, I don't consider my house an investment. I don't mind paying $2700 a month including taxes and insurance to live there. I couldn't rent anything equivalent for that.
Last edited by CosmicCowboy; 06-20-2015 at 10:51 AM.
Yeah. This. With the land, I couldn't find anything to rent for even close to my payments now. But we also live in an area where real estate values should continue to increase a few % a year for a while. I couldn't take any savings from renting and do the same without taking on some risk. But if I was single or younger or living in a different part of the country, I can definitely see myself renting.
I certainly understand someone that is young and not settled renting but if you plan to be in the same place for at least 5 years buying makes tons more sense. Rental rates include the cost of the mortgage, taxes, insurance and maintenance PLUS a profit. Also rent is just *poof*gone every month from after tax income. At the end of the year I can deduct the taxes and interest and take another 5 grand+ off my taxes.
Caveat. I'm talking about Texas and the Texas real estate market in good areas. Real estate is always about location, location, location.
six years after the epochal financial panic, the housing market still faces significant headwinds. hopefully recovery comes before another bust.
Tight credit requirements and the inevitable higher mortgage interest rates aren't going to help housing, homebuilders, or construction jobs.
That being said, there are thousands of apartments under construction in SA right now.
100Ks of young people with an avg of about $30K college loan debt, $1T+ total debt, and ty "entry" jobs, if employed at all, can't buy homes, can't start familie$, etc, etc.
Busting people out of good jobs, out of their homes, forcing them to be renters is cash-flow strategy of rentier capitalism, along with all the rentier capitalism vampire-squid markets sucking wealth from citizens.
Thanks Obama.
for what? blame O'Bama for everything the Repugs ed up.
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