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

 
Anonymous Coward
User ID: 29184782
United States
05/19/2017 04:43 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
OP has found another way to blame baby boomers for his problems.

Homes are appraised at before repair value and after repair value. Home are put on the market according to those appraisals and what the market comps are for that kind of home.
It's buyer's choice to buy it at before renovation value or after repair value. That is the simple fact no matter who or what age person owns the home.

OP, you are still paying property taxes and the fees for upkeep that would be HOA if a home. And you have no equity. You have no property that increases in value that you can sell for profit.

You are shooting yourself in both feet just so you can blame a generation that has no fault at all for your problems. Congratulations.
Anonymous Coward
User ID: 74916408
Canada
05/19/2017 04:46 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
ask yourself why "baby boomers" would be making threads like this to create divisions.
If anything, they understand the current situation more than their children.
Anonymous Coward
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05/19/2017 04:55 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
ask yourself why "baby boomers" would be making threads like this to create divisions.
If anything, they understand the current situation more than their children.
 Quoting: Anonymous Coward 74916408


A millennial did it. Not a boomer. But you are right in that boomers get it. Their grandkids, who the millennials are by generation, are clueless in so many ways. Instead of realizing they are responsible for their own lives and choices, they blame others. Sad really.
s. d. butler

User ID: 74291006
United States
05/19/2017 04:57 AM
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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


laugh
s. d. butler

User ID: 74291006
United States
05/19/2017 04:59 AM
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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 being smart. Most people will call you crazy but that is because they live in the system. A correction, you do pay taxes and HOA it is just built into your rent. With renting you can move when you want to. Owners can't and when they do sell their 'profit' gets paid to the real estate agents. With renting you are less likely to have all sorts of space you don't use but that you pay to heat and cool. Owning can have advantages but doesn't the way most people do it.
 Quoting: Corporal Punishment


laugh
NewEarth 5D
User ID: 74914079
Brazil
05/19/2017 05:25 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
...


TERRESTRIAN TRASH.
 Quoting: NewEarth 5D 74914079


blahblah5
 Quoting: BrokenTech


Can you tell that I am super glad that I am not LOSER YOU?
 Quoting: NewEarth 5D 74914079


Can you tell that I really dont give a shit what you think?

You think that because some space aliens visited you that it makes you better than the rest of us. What, do you think you are one of them now after your visit?

You can shove feathers up your ass all you want but that does not make you a duck.
 Quoting: BrokenTech


NOTHING - NOT EVEN COUNTING THAT I SAW A BALL OF LIGHT OUTSIDE MY WINDOW'S HOME - WILL CHANGE THE FACT THAT YOU PEOPLE HAVE BEEN "BUYING"(=RENTING) FROM THE MASONS/VATICAN/"ROYALTY" STOLEN GOODS FOR AS LONG AS THEY HAVE BEEN SELLING IT.


AS LONG AS THEY PUT A STAMP ON IT, IT IS ALL "GOOD". JUST SO THAT YOU CAN MAKE A "PROFIT".

IF IT WAS A STOLEN CAR THAT WOULD BE A DIFFERENT STORY.

BUT SINCE IT IS STOLEN LAND... OK DOKE.

HOW "CIVILIZED" OF YOU.

(But I am special more because that I make the SUN emanate VIOLET rays with my thoughts than anything else really!)
NewEarth 5D
User ID: 74914079
Brazil
05/19/2017 05:28 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
a mortgage is the best low interest loan available

op is self limited
 Quoting: Anonymous Coward 74920536


WHO GAVE THEM THE "RIGHT" TO "SELL"(=RENT) IT TO YOU???

WHO???
NewEarth 5D
User ID: 74914079
Brazil
05/19/2017 05:28 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
a mortgage is the best low interest loan available

op is self limited
 Quoting: Anonymous Coward 74920536


Yeah and it's usually a damn good return on investment... when the Demos aren't crashing the economy anyway
 Quoting: Anonymous Coward 74572817


WHO GAVE THEM THE "RIGHT" TO "SELL"(=RENT) IT TO YOU???

WHO???

Corporal Punishment

User ID: 62119186
United States
05/19/2017 07:49 AM
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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 being smart. Most people will call you crazy but that is because they live in the system. A correction, you do pay taxes and HOA it is just built into your rent. With renting you can move when you want to. Owners can't and when they do sell their 'profit' gets paid to the real estate agents. With renting you are less likely to have all sorts of space you don't use but that you pay to heat and cool. Owning can have advantages but doesn't the way most people do it.
 Quoting: Corporal Punishment


No one requires you to use a realtor. Their commission is typically 6%. Nothing stops you from putting a "for sale by owner" sign in your front yard and bypass the realtor all together. Thats a choice one makes on their own.

If you take the full 30 years to pay off the loan then it is not as profitable. If you pay a 30 year loan off in 15 years then the profit margins greatly increase. As I stated the 30 year loans are the biggest ripoff of all time. But using it the right way can work to your advantage.
 Quoting: BrokenTech


No, you don't need a realtor, but most people use one. If they didn't they wouldn't be able to sell the house because they'd suck at it.

Actually 30 year loans are the best thing ever, if you live there thirty years. You are paying off the loan with inflated money. 30 year loans are terrible if you are only going to stay four or five years like most genius, 'I'm not throwing money down the drain on rent', home owners do.
Corporal Punishment

User ID: 62119186
United States
05/19/2017 08:00 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
A few other points.

There was actually a pretty good article a few years ago that very accurately compared renting versus owning. Renting actually won out financially in many cases. Anyone could do the analysis. But owner types refuse to accept reality. They can't even imagine the possibility they are so caught up in their myth.

When you sell your house and make a huge 'profit' what do you typically do? You buy another house that also appreciated in price during the same time. The money people make on a home really isn't a profit because they need somewhere to live. If they go smaller or rent then it can be a gain. But if they go bigger it isn't.

If houses are such great investments why don't people have house buying investment funds? Why don't people sink all their money into houses? Because it isn't that great an investment. Ironically after the last crash Wall Street with its printed money and bailouts did start buying houses. The money they were given had to go somewhere.

The only reason owning is at all attractive to most is because the government subsidizes owners through the mortgage interest deduction. Home owners are basically welfare leaches.

No matter what you think millennial don't want a big house in the suburbs. As this trend continues your expensive house in the suburbs is going to be a lot less desirable. You won't have people bidding up the price.
Anonymous Coward
User ID: 73824898
United States
05/19/2017 08:06 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
When it comes to a home, there are more than just leasing or buying as options.
Anonymous Coward
User ID: 45529480
United States
05/19/2017 08:18 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
A few other points.

There was actually a pretty good article a few years ago that very accurately compared renting versus owning. Renting actually won out financially in many cases. Anyone could do the analysis. But owner types refuse to accept reality. They can't even imagine the possibility they are so caught up in their myth.

When you sell your house and make a huge 'profit' what do you typically do? You buy another house that also appreciated in price during the same time. The money people make on a home really isn't a profit because they need somewhere to live. If they go smaller or rent then it can be a gain. But if they go bigger it isn't.

If houses are such great investments why don't people have house buying investment funds? Why don't people sink all their money into houses? Because it isn't that great an investment. Ironically after the last crash Wall Street with its printed money and bailouts did start buying houses. The money they were given had to go somewhere.

The only reason owning is at all attractive to most is because the government subsidizes owners through the mortgage interest deduction. Home owners are basically welfare leaches.

No matter what you think millennial don't want a big house in the suburbs. As this trend continues your expensive house in the suburbs is going to be a lot less desirable. You won't have people bidding up the price.
 Quoting: Corporal Punishment


clappa
The F Shack

User ID: 73082955
United States
05/19/2017 08:37 AM
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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 haven't read through the thread but I'm going to wager idiots who are going to pay 2-3 times the original cost of Their house are going to give you all kinds of shit. All the while making that brain dead 30 year minimum payment.

You are thinking along the correct lines. I made the mistake of buying a house when I was 24 or so...worst investment of my life. I bought at the height of the housing market 3 or 4 years prior to the crash of 2008...and this place on paper in my opinion isn't worth anywhere near what I am paying for it to this day. It's sickening.

I have made all sorts of renovations, built a shop on a slab, kitchen and bathroom renovations...new floors, etc. Place still isn't worth what we paid. Homers will tell you it's the best investment you could ever make but I disagree. In my case it was not.

The good news for me is my wife and I here 3 or 4 years back were able to start paying an extra 15k/year on top of original principal...so we are going to have this place paid off now in under 2 years. So we will have paid the house off completely in 13-14 years. THATS how you get out of paying all that retarded ass interest. Mortgage companies hate us...nobody wants our loan now lol. They have sold it off 5 or 6 times to other companies I'm assuming because they see they aren't gonna make much interest off us like they do everyone else.

Moral of the story you do have the right idea not wanting to pay 500k for a 200k house like most morons do. However, paying rent doesn't get you any assets either. So with that said...the CORRECT thing to do is to rent and save money. Get the cheapest rent you can and save up until you can pay that bastard off with one written check. Fuck the mortgage companies. If I had it to do over again that is what I would do. Rent some cheap ass place and save the fuck out of money til I could buy a house outright.
Anonymous Coward
User ID: 74910446
Canada
05/19/2017 08:53 AM
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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


LOL! The property taxes and HOA fees are embedded into the price of your rent. Yes, you might ultimately pay pay $500k for a $200k house but at the end of it, you have a house that has appreciated in value and through incremental inflation. At the end of paying rent for 30 years, you have nothing. I own rental properties. I love collecting monthly rent from millennial idiots like you. I will one day enjoy a comfortable retirement after selling property that YOU paid for.
epiclol
Anonymous Coward
User ID: 74732331
United States
05/19/2017 08:54 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
...


We did answer your question but you are too fucking stupid to comprehend or you are not hearing what you want to hear.
 Quoting: BrokenTech


I guess I am too "fucking stupid" and "uncivilized" to understand your "superior" reasoning and explanations.

So PLEASE make it simple for me?

REPEAT IT AGAIN and in a very easy to understand form:

WHO gave THEM the RIGHT to RENT it to you??

Since it is STOLEN "goods".

And to RENT/"buy" STOLEN GOODS IS ILLEGAL??

[link to en.wikipedia.org (secure)]
 Quoting: NewEarth 5D 74914079


JUST A SIMPLE ANSWER WITH NO NAME CALLING PLEASE, BECAUSE YOU KNOW... THAT IS NOT VERY "CIVILIZED"! ;)
 Quoting: Anonymous Coward 74732331

You must be denser than a neutron star.
 Quoting: NewEarth 5D 74914079


I guess you are NOT going to ANSWER the question.

You LYING LOSER you.


You haven't asked a question. You just keep repeating nonsense about something being stolen. Acting like a true retard.
The F Shack

User ID: 73082955
United States
05/19/2017 09:00 AM
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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


LOL! The property taxes and HOA fees are embedded into the price of your rent. Yes, you might ultimately pay pay $500k for a $200k house but at the end of it, you have a house that has appreciated in value and through incremental inflation. At the end of paying rent for 30 years, you have nothing. I own rental properties. I love collecting monthly rent from millennial idiots like you. I will one day enjoy a comfortable retirement after selling property that YOU paid for.
epiclol
 Quoting: Anonymous Coward 74910446

So your advise to him would be to go ahead and pay 500k for a 200k house? That's fucking dumber than a bag of hammers. 300k just pissed away in the wind to some mortgage company.
Anonymous Coward
User ID: 45588154
United States
05/19/2017 09:00 AM
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Re: Why I, as a Milennial, will NEVER be buying a House
There's no such thing as "home ownership". You are just RENTING the house from the GOVERNMENT. Your "property" isnt yours, it's theirs, which is why you pay property taxes on it.
Corporal Punishment

User ID: 62119186
United States
05/19/2017 09:13 AM
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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


LOL! The property taxes and HOA fees are embedded into the price of your rent. Yes, you might ultimately pay pay $500k for a $200k house but at the end of it, you have a house that has appreciated in value and through incremental inflation. At the end of paying rent for 30 years, you have nothing. I own rental properties. I love collecting monthly rent from millennial idiots like you. I will one day enjoy a comfortable retirement after selling property that YOU paid for.
epiclol
 Quoting: Anonymous Coward 74910446


At the end of paying mortgage for 30 years you have nothing, if you don't come up with the tax payment.

Owning rental units can be a decent stream of income. But the renters don't get nothing out of it. They get to have known structured payments. You have to have money to pay for repairs. Renters get the option to move. You are stuck with the property. Renters don't have to worry about maintenance. You have to be on hand or pay someone else to be.

You are providing a service and that is great. But do you really think your customers are idiots? That is sad. Why don't you tell them that? I guess by that thinking you are an idiot for using any services you use when it could be cheaper if you did it yourself. So do you do all the plumbing repairs or are you an 'idiot' and pay someone else?
SaveUSa

User ID: 42500364
United States
05/19/2017 09:28 AM

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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.
 Quoting: Anonymous Coward 74561869


As is the rental market in many cities. If you were to live in mine, it is now a huge landlord market, so renters live at the annual whim of the owner. As you said, when they increase their rents beyond your means, you can move; however, you might not like what you have to move into in this type of market. So, really, you are simply trading one master for another.

That said, by owning a home on a 30-year mortgage, you are taking at least some control of your future. Homes appreciate in value (as a general rule), so you are protecting your money by investing in one if you can. You are also fixing the monthly payments to a manageable level that should continue to be more manageable as you progress in life, as well as protect you against inflation. It truly is the intelligent thing to do if you can afford it.

If the thought of paying "banksters" is bothersome, consider the interest you pay as rent, and the fixed payments as security that allows you to avoid the whims of a market, or profit driven landlord.

Last Edited by SaveUSa on 05/19/2017 09:29 AM
Within the surreal depths of "reality" lies the truth.
Sungaze_At_Dawn

User ID: 12117799
Canada
05/19/2017 10:15 AM

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Re: Why I, as a Milennial, will NEVER be buying a House
Here is the reason to buy a home.

1. You pay it off in 25-35 years.


2. You then have small payments.


Rents go up and in the decades from 20-53, apartments went from 300 a month, utilities included to a single bedroom apartment in the poor service oriented interior is now 1200 a month.

Wages didn't change. The dry waller guy made 12 dollars and hour when I was 20 and was able to buy an 80 000 dollar house.

He still makes 12 dollars starting now, and the average house is between 360 000-520 000.


ITS ALL ABOUT DOING THE MATH.


If your situation is OK, and the rents OK there, then investing in land to retire on later, may be better than buying a house.

Last Edited by Sungaze_At_Dawn on 05/19/2017 10:15 AM
Anonymous Coward
User ID: 1520428
United States
05/19/2017 12:29 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


Have fun working until the day you die.

I will be retired, with my house paid off, living off my pension and social security.
 Quoting: Anonymous Coward 72062402


lmao
Anonymous Coward
User ID: 74720675
United Kingdom
05/19/2017 02:11 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Millennials need to understand that they NEED TO BUY NOW MORE THAN EVER BEFORE!!! Why? Because your home is the ONLY RETIREMENT yer gonna have!!! Probably will not be SS and no companies are paying retirements anymore... So what are you gonna have at 65-70 NADA ZIP ZILCH... you truly will be sh*t outta luck.
 Quoting: Anonymous Coward 74158976


Wow!

How "civilized" of the boomers generation to leave that legacy TO THEIR OWN KIDS.

IT IS NOT ENOUGH TO LET 911 TO GO UNPUNISHED.


Because, we all know, Hitlery and Obama is the WHOLE PROBLEM WITH AMERIKKKA.
 Quoting: NewEarth 5D 74914079


Here's the thing...

I'm NOT leaving anything but souvenirs to my millennial kids.

Everything of worth is in a ringfenced trust fund for my grandchildren's health and education.

Because...
my millennial kids have had everything handed to them on a plate. They have great careers and still they are unappreciative of the sacrifices we made as parents. They already had their legacies.

Millennials are the poster children for ENTITLEMENT!!
That's obvious from all the snowflakes here whining about having to work hard to keep up payments on properties that WILL make them well-off in later life.

I can see that their children will be neglected - because millennials are essentially selfish spoiled brats, it's all me-me-me and their own feelings come first.

I actually dread to think how their kids will survive this uber-entitlement culture.

So that's why I've put it all in the trust for my grandchildren. At some point these kids will need therapy and decent schooling.
Anonymous Coward
User ID: 45451392
United States
05/19/2017 02:25 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Millennials need to understand that they NEED TO BUY NOW MORE THAN EVER BEFORE!!! Why? Because your home is the ONLY RETIREMENT yer gonna have!!! Probably will not be SS and no companies are paying retirements anymore... So what are you gonna have at 65-70 NADA ZIP ZILCH... you truly will be sh*t outta luck.
 Quoting: Anonymous Coward 74158976


Wow!

How "civilized" of the boomers generation to leave that legacy TO THEIR OWN KIDS.

IT IS NOT ENOUGH TO LET 911 TO GO UNPUNISHED.


Because, we all know, Hitlery and Obama is the WHOLE PROBLEM WITH AMERIKKKA.
 Quoting: NewEarth 5D 74914079


Here's the thing...

I'm NOT leaving anything but souvenirs to my millennial kids.

Everything of worth is in a ringfenced trust fund for my grandchildren's health and education.

Because...
my millennial kids have had everything handed to them on a plate. They have great careers and still they are unappreciative of the sacrifices we made as parents. They already had their legacies.

Millennials are the poster children for ENTITLEMENT!!
That's obvious from all the snowflakes here whining about having to work hard to keep up payments on properties that WILL make them well-off in later life.

I can see that their children will be neglected - because millennials are essentially selfish spoiled brats, it's all me-me-me and their own feelings come first.

I actually dread to think how their kids will survive this uber-entitlement culture.

So that's why I've put it all in the trust for my grandchildren. At some point these kids will need therapy and decent schooling.
 Quoting: Anonymous Coward 74720675


Baby Boomers are the most entitled generation in history. But since you're all also narcissist, you'd never admit it.
Anonymous Coward
User ID: 40188610
Canada
05/19/2017 02:31 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^


Get a fucking job geeze
Anonymous Coward
User ID: 1542203
United States
05/19/2017 03:46 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


LOL! The property taxes and HOA fees are embedded into the price of your rent. Yes, you might ultimately pay pay $500k for a $200k house but at the end of it, you have a house that has appreciated in value and through incremental inflation. At the end of paying rent for 30 years, you have nothing. I own rental properties. I love collecting monthly rent from millennial idiots like you. I will one day enjoy a comfortable retirement after selling property that YOU paid for.
epiclol
 Quoting: Anonymous Coward 74910446


You dont own that property. That's the bank's house, they're just renting it out to you. The Queen has you and your property by the balls.

epiclol
Anonymous Coward
User ID: 74910446
Canada
05/19/2017 03:53 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
A few other points.

There was actually a pretty good article a few years ago that very accurately compared renting versus owning. Renting actually won out financially in many cases. Anyone could do the analysis. But owner types refuse to accept reality. They can't even imagine the possibility they are so caught up in their myth.

When you sell your house and make a huge 'profit' what do you typically do? You buy another house that also appreciated in price during the same time. The money people make on a home really isn't a profit because they need somewhere to live. If they go smaller or rent then it can be a gain. But if they go bigger it isn't.

If houses are such great investments why don't people have house buying investment funds? Why don't people sink all their money into houses? Because it isn't that great an investment. Ironically after the last crash Wall Street with its printed money and bailouts did start buying houses. The money they were given had to go somewhere.

The only reason owning is at all attractive to most is because the government subsidizes owners through the mortgage interest deduction. Home owners are basically welfare leaches.

No matter what you think millennial don't want a big house in the suburbs. As this trend continues your expensive house in the suburbs is going to be a lot less desirable. You won't have people bidding up the price.
 Quoting: Corporal Punishment


clappa
 Quoting: Anonymous Coward 45529480


Keeping one's own money does not qualify them as a "welfare leech". Welfare, by definition, is one getting money that they did not earn. And no, houses in the suburbs will not become less desirable. As long as the country's urban centers continue to decay at the hands of the corrupted libtards who run them, decent, productive citizens will continue to flee to the peace, cleanliness and safety of the suburbs. Its the cities that are dying, fool.
norespect
Mayor of Simpleton
I know nothing.

User ID: 1134490
United States
05/19/2017 04:19 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
OP is retarded.

I bought a house in 1996 for about $120,000. Have had it rented since 1999. I'll be selling it for $220,000 in the next few weeks. Payments are about $1000, was rented for $1500. Sale price less depreciated value = capital gains, which I have offset by other losses. $500/mo extra since 1999 is $108,000 in rental profit for doing nothing. I'll clear another $140,000 when it sells.

MoS
Never argue with an idiot. They drag you down to their level and beat you with experience.
BrokenTech

User ID: 74885369
United States
05/19/2017 05:02 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 being smart. Most people will call you crazy but that is because they live in the system. A correction, you do pay taxes and HOA it is just built into your rent. With renting you can move when you want to. Owners can't and when they do sell their 'profit' gets paid to the real estate agents. With renting you are less likely to have all sorts of space you don't use but that you pay to heat and cool. Owning can have advantages but doesn't the way most people do it.
 Quoting: Corporal Punishment


No one requires you to use a realtor. Their commission is typically 6%. Nothing stops you from putting a "for sale by owner" sign in your front yard and bypass the realtor all together. Thats a choice one makes on their own.

If you take the full 30 years to pay off the loan then it is not as profitable. If you pay a 30 year loan off in 15 years then the profit margins greatly increase. As I stated the 30 year loans are the biggest ripoff of all time. But using it the right way can work to your advantage.
 Quoting: BrokenTech


No, you don't need a realtor, but most people use one. If they didn't they wouldn't be able to sell the house because they'd suck at it.

Actually 30 year loans are the best thing ever, if you live there thirty years. You are paying off the loan with inflated money. 30 year loans are terrible if you are only going to stay four or five years like most genius, 'I'm not throwing money down the drain on rent', home owners do.
 Quoting: Corporal Punishment


No, 30 year loans are not the best thing. Simply do the math. Run the numbers on your 30 year loan versus a 15 year loan. The only thing a 30 year loan is good for is to keep the payments super low and get people into homes they probably could not afford otherwise. They pay substantially more interest in the long run.

Last Edited by BrokenTech on 05/19/2017 05:02 PM
jpop

User ID: 74840967
United States
05/19/2017 05:53 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
The reasoning of a millennial.

It's someone else's fault, as if everyone hasn't gone through this that owns a home. I'm not getting my way, so I won't play; as if anyone besides you will be harmed by this.

Like a child, cutting off your nose despite your face. LOL

Time to grow up. Everything isn't about YOU.
 Quoting: jpop


I hurt the little brat's feelings, so it did what stupid people the world over always do when their ignorant comments are pointed out, told me to "Shut Up." Wow what a great argument dumb, dumb.

Aw did I hurt its wittle feelers.

GOOD!!

I can't help it if you have no leg to stand on. That's what makes the millennials such giant cry baby pussies. They have no ability to reason and thus present a cogent argument.

The Baby Boomers Wah! Gimme! They only know how to take not contribute anything. They cry because they didn't get to take the short cut so it's everyone's fault but their lazy unmotivated, whiny ass.

I have zero respect for that generation of moochers.
jpop

User ID: 74840967
United States
05/19/2017 05:55 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
The reasoning of a millennial.

It's someone else's fault, as if everyone hasn't gone through this that owns a home. I'm not getting my way, so I won't play; as if anyone besides you will be harmed by this.

Like a child, cutting off your nose despite your face. LOL

Time to grow up. Everything isn't about YOU.
 Quoting: jpop


I hurt the little brat's feelings, so it did what stupid people the world over always do when their ignorant comments are pointed out, told me to "Shut Up." Wow what a great argument dumb, dumb.

Aw did I hurt its wittle feelers.

GOOD!!

I can't help it if you have no leg to stand on. That's what makes the millennials such giant cry baby pussies. They have no ability to reason and thus present a cogent argument.

The Baby Boomers Wah! Gimme! They only know how to take not contribute anything. They cry because they didn't get to take the short cut so it's everyone's fault but their lazy unmotivated, whiny ass.

I have zero respect for that generation of moochers.
 Quoting: jpop


Now the millennials on this site will flood me with red proving what I just wrote. A whole generation of LOSERS AND LIBTARDS


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