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Why I, as a Milennial, will NEVER be buying a House

 
Anonymous Coward
User ID: 74561869
United States
05/18/2017 12:53 PM
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Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
^TrInItY^Moderator
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05/18/2017 12:54 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
lol

ok then you can pay someone like me rent :)

we'll accumulate wealth while you will struggle to keep your head above water...
Few will listen,
Of the few who listen, fewer still will understand,
Understanding does not mean believe,
Of the handful who believe, most may not know what to do,
Those who even know, how many will actually do ?
And the rare ones who have done it.......
Need not listen to you anymore.
Apocalypse Troll
Trollicus Apocalyptus

User ID: 72205308
United States
05/18/2017 01:04 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
lolz
attxflag
"Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God, one and indivisible."

[link to www.statutes.legis.state.tx.us]
Anonymous Coward
User ID: 74910211
Ireland
05/18/2017 01:06 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
At least you can sell your house and it is an investment. Not so with renting.
Anonymous Coward
User ID: 22254598
United States
05/18/2017 01:07 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Mom's basement is your destiny.
Anonymous Coward
User ID: 71745610
United States
05/18/2017 01:09 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Buy a piece of land.

Build a log cabin.

Problem solved.
Anonymous Coward
User ID: 70552997
United States
05/18/2017 01:09 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
You can buy a house without a mortgage. Pay cash. Anyone who signs a mortgage contract deserves what they get.
MyLifeForYou!

User ID: 71740445
United States
05/18/2017 01:11 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
lol

ok then you can pay someone like me rent :)

we'll accumulate wealth while you will struggle to keep your head above water...
 Quoting: ^TrInItY^


Exactly. What an idiot. He must not understand that you can by a house and the rent it to morans like him.

"Rental appreciation has been a freight train these past few years, chugging along without any appreciable slowdown," said Stan Humphries, Chief Economist at Zillow. "Since 2000, rents have grown roughly twice as fast as wages, and you don't have to be an economist to understand why that is hugely problematic."
There's a 95% chance you are a candy ass uniparty tory. AND that's okay, we shall have liberty no matter what.
Anonymous Coward
User ID: 7976936
United States
05/18/2017 01:12 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Buy a piece of land.

Build a log cabin.

Problem solved.
 Quoting: Anonymous Coward 71745610


Most people are struggling to make ends meet.. I know I am.. The average joe cant afford property, let alone materials to build.. Fuckin aye.. you rich fucks think its so damn easy.. Its hard to find a job that pays more than 12$/hr.. what the fuck are you going to afford even with a 20$/hr job.. even with a 20$ an hr job thats like 700$ a week after taxes... a modest income
Anonymous Coward
User ID: 71632887
United States
05/18/2017 01:14 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
 Quoting: Anonymous Coward 74561869


Housing is another bubble. Sorry, young grasshopper you were priced out of the market when the government got involved. Ignore the idiots above, when stagflation hits, housing will crash again, buy then.
Anonymous Coward
User ID: 71632887
United States
05/18/2017 01:16 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
 Quoting: Anonymous Coward 74561869


Housing is another bubble. Sorry, young grasshopper you were priced out of the market when the government got involved. Ignore the idiots above, when stagflation hits, housing will crash again, buy then.
 Quoting: Anonymous Coward 71632887


I would either A. Invest in gold or B. Get a mortgage financed at a fixed rate so that when the dollar collapses...you can pay it off in worthless money.
Anonymous Coward
User ID: 17501290
United States
05/18/2017 01:18 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Here's what you do:

RENT you're own home or apartment.

BUY properties to rent out.


Use other people to pay off mortgages on these rental properties.
You can always move into them after they are paid off.

It will take out half your taxes as well.
Lawrence drywall
User ID: 16158639
Australia
05/18/2017 01:19 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Anonymous Coward
User ID: 73265665
United States
05/18/2017 01:21 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
 Quoting: Anonymous Coward 74561869



Hey, brainiac! The guy you're paying rent to probably has a mortgage (that you are paying). I guaranfuckingtee you the owner has property tax (which you are paying). If there are HOA fees I guaranfuckingtee you you are paying them as well.

You absofuckinglutely ARE paying banks. It's just that with renting you don't see that you are paying - and that makes you a dumbass.
Anonymous Coward
User ID: 74876377
United States
05/18/2017 01:21 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
I don't think you understand inflation.

Each year your rent payments will increase...and you own nothing.

If you buy, you are building a savings account in your equity.

If you get a fixed rate mortgage then your payments will not increase.

But during 30 years...the dollar will lose at least 60% of its value.

So at the end of 30 years you can sell your home for 60% more than you bought it.

Then you can downsize or rent during your retirement years with a huge nest egg.

Or you can pay rent for 30 years, that increases each year...and at the end of 30 years have nothing to show for it.

Buying is cheaper than renting.
Buying is owning.
Your payments are basically paying into your own savings account.
Anonymous Coward
User ID: 69619714
United States
05/18/2017 01:27 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
If ur single get u a motorcoach for what u pay for a high end car or truck. My stepsister and her husband had a 5th wheel trailer that was like a rolling 5 star hotel suite!
Anonymous Coward (OP)
User ID: 74561869
United States
05/18/2017 01:35 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
I don't think you understand inflation.

Each year your rent payments will increase...and you own nothing.

If you buy, you are building a savings account in your equity.

If you get a fixed rate mortgage then your payments will not increase.

But during 30 years...the dollar will lose at least 60% of its value.

So at the end of 30 years you can sell your home for 60% more than you bought it.

Then you can downsize or rent during your retirement years with a huge nest egg.

Or you can pay rent for 30 years, that increases each year...and at the end of 30 years have nothing to show for it.

Buying is cheaper than renting.
Buying is owning.
Your payments are basically paying into your own savings account.
 Quoting: Anonymous Coward 74876377


I can move if I ever find my rent amounts to be increasing out of my price range.

Even in a fixed mortgage, you are still paying property taxes that increase each year. You aren't "owning" shit if you pay property taxes.

A mortgage is DEBT.

Renting doesn't require me to be in debt to any entity. I cannot afford the houses in my area on my one salary alone.

The Boomers have inflated housing costs to unreasonable amounts.

So rather than go into debt to mortgage lenders and end up paying $300,000 worth of interest and $150,000 worth of principle on a $230,000 house, I'll continue to rent. I save a ton of money from renting, so it's nice to know that money is sitting in my savings account and not in the hands of mortgage lenders.

I dont give a damn about home ownership. I dont need to own a home. And it isnt all that its cracked up to be.

Renting gives me freedom, flexibility, and it will cost be $1000 less per month than to purchase a house in my area.

The housing market is fickle and will be crashing again.
Where Eagles Dare
Metal-American

User ID: 73836248
United States
05/18/2017 01:38 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
35van
I have three heroes in my life. My Dad, my Mom, and Ronald Reagan.
Anonymous Coward
User ID: 18808534
United States
05/18/2017 01:39 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Buy a piece of land.

Build a log cabin.

Problem solved.
 Quoting: Anonymous Coward 71745610


FTW-GLP11

Make sure the land has the necessary trees you will need to build the log cabin. It is even better if the land already has a trailer on it with sewer, water, and electricity. Septic, well, and electric lines are expensive.
Anonymous Coward
User ID: 880285
United States
05/18/2017 01:41 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
 Quoting: Anonymous Coward 74561869



I completely agree with you OP. Southern California here. I have done the math, and renting here makes MUCH more sense than buying.

The buyers market is supported by investors' hot money, but the rental market is limited by people's actual incomes. There is definitely a sweet spot for renters.

And If you actually have enough cash on hand to buy a home outright, INVEST that cash instead and earn 6-7% on it. Then use those earnings to help cover your rent! You get to have your cake and eat it too.


hayseed
Anonymous Coward
User ID: 18808534
United States
05/18/2017 01:41 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
The world would be a better place if we were all idealistic like OP. When did we forget that usury is sin?
Boomer
User ID: 26609370
United States
05/18/2017 01:42 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Why are you blaming boomers for the housing MESS why don't you blame democrat FUCK HEADS, the root of the problem? It was billy and barry's SUB PRIME GREED LOANS that got the whole ball rolling and this is what democrat ASSHOLES vote for.
Anonymous Coward
User ID: 74896363
United States
05/18/2017 01:42 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Do they still teach finance at school?
Anonymous Coward
User ID: 74453278
United States
05/18/2017 01:42 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Go pay rent...it's a form of debt with zero equity.

Don't think u pay HOA, property taxes, insurance, etc...? Oh you do, it's fixed into your rent.


Your generation consistently proves its inability to progress. You have been greatly misled by those you idolize and hate.

Luckily not all are like this.
Anonymous Coward
User ID: 74839109
United States
05/18/2017 01:43 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
What will happen with home prices versus incomes? The three times annual formula is obsolete. How expensive can they get before people cannot keep up with the mortgage? Are people still getting foreclosed on?

It seems out of whack since I see so many people on various sites and in real life complaining about home prices and incomes.
Boomer
User ID: 26609370
United States
05/18/2017 01:44 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Plus, it was your FUCK HEAD jimmy carter's CRA that installed the democrats AFFIRMATIVE ACTION loans to SCREW OVER you IDIOTS. BTW, Carter is NOT A BOOMER CLOWN but you're plenty STUPID
Anonymous Coward
User ID: 17501290
United States
05/18/2017 01:44 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
You may pay mortgage/hoa fees in your rent but you're also not paying closing costs or have worry about depreciation
Anonymous Coward
User ID: 74662577
United States
05/18/2017 01:48 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
 Quoting: Anonymous Coward 74561869


You're correct. People who buy into the whole owing a home thing aren't awake to the fact that even if you had fully paid off your home with the bank or mortgage you STILL PAY RENT with property taxes and the second you STOP paying property taxes to the TRUE OWNERS of the home you lose that home which you really DO NOT own! Dummies!
Boomer
User ID: 26609370
United States
05/18/2017 01:48 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
You can bet that Hillary the ITCH is STILL bragging about billy and barry's SUB PRIME LOANS but she won't bother to tell you LOSERS that that's what DESTROYED OUR ECONOMY.
Anonymous Coward
User ID: 74839109
United States
05/18/2017 01:48 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
It's pretty simple, really.

A mortgage is DEBT.

A mortgage is payment servitude to the banks for 15 or 30 years.

And since the housing market has been inflated, it's nearly impossible to purchase a nice home on just one salary.

By renting, I dont have to pay property taxes.

By renting, I dont have to pay HOA fees.

By renting, I dont owe shit to the banks. Renting doesn't require you to be in debt to mortgage lenders.

Buying a house is not worth it. You will pay off double in interest what you will the principle. Over the course of a 30 year fixed mortgage you could spent $500,000 for a $200,000 house.

So I will be renting, forever, and NEVER buying property. Boomers have fucked the housing market to no end. They are putting these houses that haven't been renovated in 40 years on the market for half a million dollars.

Im not playing this game.

Fuck the whole "you want to buy a house so you can own something " bullshit. I could care less about home ownership when renting is cheaper and doesnt require me to take out a mortgage loan to be enslaved to the bank.
 Quoting: Anonymous Coward 74561869


Housing is another bubble. Sorry, young grasshopper you were priced out of the market when the government got involved. Ignore the idiots above, when stagflation hits, housing will crash again, buy then.
 Quoting: Anonymous Coward 71632887


I don't think it will crash in most places. Rinse and repeat 2008 every 15 years.
Anonymous Coward
User ID: 74896363
United States
05/18/2017 01:48 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
You may pay mortgage/hoa fees in your rent but you're also not paying closing costs or have worry about depreciation
 Quoting: Anonymous Coward 17501290


No landlord is going to be losing money. Rent is always more than the mortgage payment.

W/Family exceptions


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