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New American Dream is Renting;
- Thread starter Banjo
- Start date
Well,
Damnit!
This is 'truth.'
-------------
I don't even get near the snatch with my mouth anymore unless it is 20 years old or younger (or I do an exploratory "look and see").
Sorry to be off topic; but outside trading Pussy (specifically young/dumb/borderline-retarded pussy is tops)...I see how this shitstorm of public fuckery is playing out!
San Diego (CA) is the worst--they are fucked!
------------
Back to the topic of government workers; hey, I have real-time near 1st hand experience.
My uncle worked for the city as an inspector (he did literally break his back as a sewer engineer/grunt early in his career).
I did a few ride alongs in my 30's with him on my summer vacation.
He worked in a small sea-side town in Western Michigan.
Here was his day.
Work for 1 hour. Go to various whores houses and either smoke rock or weed. Take a 3 hour lunch.
Work 1 hour in the p.m. On his way home get some beer/wine and drink it as he filled out his paperwork; then show up at the county building and turn in his paperwork.
5 years ago he got full pension and disability for diabetes. He is family but seriously; is this system fucked beyond belief, eh?
He gets 2.7K from the state/county and then $900+ from disability.
In that area of Michigan he is living like a king; with a heart condition and he is still drinking and smoking the rock at times.
I guess everyone that is not in the top tier wants to fuck off and get paid for it.
peace
Hedvig
Damnit!
This is 'truth.'
-------------
I don't even get near the snatch with my mouth anymore unless it is 20 years old or younger (or I do an exploratory "look and see").
Sorry to be off topic; but outside trading Pussy (specifically young/dumb/borderline-retarded pussy is tops)...I see how this shitstorm of public fuckery is playing out!
San Diego (CA) is the worst--they are fucked!
------------
Back to the topic of government workers; hey, I have real-time near 1st hand experience.
My uncle worked for the city as an inspector (he did literally break his back as a sewer engineer/grunt early in his career).
I did a few ride alongs in my 30's with him on my summer vacation.
He worked in a small sea-side town in Western Michigan.
Here was his day.
Work for 1 hour. Go to various whores houses and either smoke rock or weed. Take a 3 hour lunch.
Work 1 hour in the p.m. On his way home get some beer/wine and drink it as he filled out his paperwork; then show up at the county building and turn in his paperwork.
5 years ago he got full pension and disability for diabetes. He is family but seriously; is this system fucked beyond belief, eh?
He gets 2.7K from the state/county and then $900+ from disability.
In that area of Michigan he is living like a king; with a heart condition and he is still drinking and smoking the rock at times.
I guess everyone that is not in the top tier wants to fuck off and get paid for it.
peace
Hedvig
Quote from eurojack:
I don't understand renting when you can afford mortgage. If your rent is equal to your mortgage payment, why the hell would you rent? If you decide that's not for you for whatever reason, dropping the mortgage and losing the house is the same as dropping the rent and losing the rented house. Renting 10 years could pay off half of your mortgage. Unless you're really poor with a dead-end job and uncertain future, why rent?
First I sold all my rental property in 2007, interest rates getting so cheap makes for over building. As far as me buying a house in near future, no way, too tired to be fixing it up(can't get anyone decent to fix anything most of the time), and tired of living in one area. I plan to move around the country, so renting a very nice house for a year works for me. I won't be buying any rental property any time soon either, still believe in many areas it is over valued, am waiting for 4-5 years for lower prices. Cash is best way to buy property, and best way to getting them at discounts.
Quote from dumb_mother:
i could buy a place tomorrow if i wanted to and am renting because i think it is a wiser investment for me to rent than buy in this market. when you add the cost of property taxes, the amount housing is dropping in value each year and maintenance costs... i think it is obvious that now is NOT the right time to buy anything - i might think about buying if it was a 30 year 0% interest loan (at least in chicago).
i plan on renting for at least another 5 years, although in 2-3 years i may try to get into a rent-to-own so that some of the rent could go towards purchasing a property. but for now housing is a black hole i have no intention of putting a dime into.
never catch a falling knife or grapefruit spoon.
I bought a place in Chicago last summer, my mortgage + taxes + insurance + association fees is 30 to 45% below what it would cost to rent my place. Financially, those with good credit and money to put down, buying right now is a no brainer. At least in my opinion
5yr
Quote from morganist:
There is going to be some serious negative equity.
That chart is inflation adjusted, so take out the adjustment and anyone that bought in 1895 and sold in 1942 would have seen the nominal value of their house rise about 10%. Factor in that if that person didn't own a house, they would have been renting all those years and the owner is way ahead.
5yr
renting is better strictly from a financial standpoint, but from a practical standpoint owning is better. If you prefer to live in higher-end neighborhoods, as i do, you won't find many rentals. In my area there are ZERO rentals, so if i wanted to rent here i couldn't. My choices were to buy or to move to a mediocre hood.
Blackjack,
Fair enough.
In San Diego (high-end areas) I can get a 6 month lease no problem 1/2 block from the ocean.
Or--a bit north--rent a small place 30 feet from the ocean no problem.
Yes--either have to have good credit or great references; but do-able in So-Cal S.D.
peace
Hedvig
Fair enough.
In San Diego (high-end areas) I can get a 6 month lease no problem 1/2 block from the ocean.
Or--a bit north--rent a small place 30 feet from the ocean no problem.
Yes--either have to have good credit or great references; but do-able in So-Cal S.D.
peace
Hedvig
how do you drop a mortgage ? Some houses have been for sale for years. How much a hit do want to take to drop your mortgage? And where I live you could buy a house for ten years rent. If you're really poor and have a deadend job you are better off buying, since you probably won't be transfered to another state, and you can fix your house up cheaper than what the landlord will eventually charge you in higher rent for improvements.Quote from eurojack:
I don't understand renting when you can afford mortgage. If your rent is equal to your mortgage payment, why the hell would you rent? If you decide that's not for you for whatever reason, dropping the mortgage and losing the house is the same as dropping the rent and losing the rented house. Renting 10 years could pay off half of your mortgage. Unless you're really poor with a dead-end job and uncertain future, why rent?
Quote from Handle123:
Of course, that makes sense. I wasn't talking about a situation where you travel a lot.
Quote from oldtime:
(hypothetical)
Rent: $400
Utils: $100
vs
Mortgage+tax: $400
Utils: $100
So if you either rent or buy a real estate for 5 or 10 years and then you run out of money, the outcome is completely the same, you're out of roof over your head left with completely nothing. But if you buy instead of rent, in 10 years you would have a big part of your house paid off. Get what I'm trying to say? That's why I don't understand renting over buying mentality unless you move around.