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

 
Anonymous Coward
User ID: 72579476
United States
05/18/2017 05:36 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Buy a camper.
Anonymous Coward
User ID: 74839109
United States
05/18/2017 05:37 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Just for comparison OP:

If you pay 1000 dollars a month rent for 30 years you will have paid your landlord 360,000 dollars and you own nothing.
 Quoting: Anonymous Coward 73879557


What do I need to "own" for?

Most of your money is getting dumped towards interest. You'll be getting suckered into paying inflated interest money while barely touching your principle, all for a house that you don't actually own, seeing how you pay property taxes on it.
 Quoting: Anonymous Coward 74561869


In some places it isn't modest either. New Jersey and New York have counties and towns where it is $15,000 or more a year.
Anonymous Coward
User ID: 48546870
United States
05/18/2017 05:38 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Mom's basement is your destiny.
 Quoting: Anonymous Coward 22254598


Ding Ding Ding... We have a winner!
Anonymous Coward
User ID: 70079334
United States
05/18/2017 05:40 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Just for comparison OP:

If you pay 1000 dollars a month rent for 30 years you will have paid your landlord 360,000 dollars and you own nothing.
 Quoting: Anonymous Coward 73879557


What do I need to "own" for?

Most of your money is getting dumped towards interest. You'll be getting suckered into paying inflated interest money while barely touching your principle, all for a house that you don't actually own, seeing how you pay property taxes on it.
 Quoting: Anonymous Coward 74561869


a 3.5% interest rate is not inflated. it's practically free money compared to 30 years ago.

you clearly don't understand the tax benefits of home ownership. and it seems you don't comprehend that your rent is used to pay someone else's taxes and interest and that THEY get the tax benefits that YOU are paying for.

but keep doing it your way if it makes you feel like you're really sticking it to someone. the only one who is getting stuck is you.
Anonymous Coward
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United States
05/18/2017 05:40 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
good move OP. I sold a 3 bedroom home and now rent. renting is much more affordable. plus you can do what you want to do like ride a bike, go fishing or to the range instead of working on the yard/house. and you never have to buy tools, paint, caulk, faucets etc.
NewEarth 5D
User ID: 74914079
Brazil
05/18/2017 05:44 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
you get a tax break for owning a home....and you are building equity

agree though that there are shit homes on sale for way too much money .... even new homes arent all that great structure wise and not for the cost.

many european countries know how to build solid homes ... these are worth buying bc they wont need endless repairs and will be solid for centuries.

american stick houses shldnt cost as much as they do .... it is absurdly ridiculous.

i want to buy again, but i want to pay cash and hv no mortgage bullshit hanging over my head where i can be kicked out by a foreclosure and lose equity. they scoop down on you IMMEDIATELY if you hv a nice home on which they can turn an immediate profit.

fuxk that...so agreee with you op....but if you can afford to buy in cash, just look at property taxes as rent.
 Quoting: Anonymous Coward 72484149


So in THE END you don't "own" ANYTHING.

YOU RENT.
Anonymous Coward
User ID: 70079334
United States
05/18/2017 05:46 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
you get a tax break for owning a home....and you are building equity

agree though that there are shit homes on sale for way too much money .... even new homes arent all that great structure wise and not for the cost.

many european countries know how to build solid homes ... these are worth buying bc they wont need endless repairs and will be solid for centuries.

american stick houses shldnt cost as much as they do .... it is absurdly ridiculous.

i want to buy again, but i want to pay cash and hv no mortgage bullshit hanging over my head where i can be kicked out by a foreclosure and lose equity. they scoop down on you IMMEDIATELY if you hv a nice home on which they can turn an immediate profit.

fuxk that...so agreee with you op....but if you can afford to buy in cash, just look at property taxes as rent.
 Quoting: Anonymous Coward 72484149


So in THE END you don't "own" ANYTHING.

YOU RENT.
 Quoting: NewEarth 5D 74914079




you 'rent' for the cost of your property taxes. mine are about $600/month...quite high. but i can't rent a 6br 3900 sq. ft. house for $600/month...which is what I OWN.
BrokenTech

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05/18/2017 05:50 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
good move OP. I sold a 3 bedroom home and now rent. renting is much more affordable. plus you can do what you want to do like ride a bike, go fishing or to the range instead of working on the yard/house. and you never have to buy tools, paint, caulk, faucets etc.
 Quoting: Anonymous Coward 10485453


I do what ever I want to. Ride my bike if I want, go to the range once or twice a week, fishing etc. I like doing general maintenance. Fuck the yard work though, I mow it but hire someone to do the rest when needed. I love tools, I look for excuses to go buy a new tool, not many tools that I don't own. Owning and knowing how to use tools is what also helps save you money in the long run. The ability to fix and maintain the property is allows me to afford someone to do the yard work when I do not feel like doing it.
Anonymous Coward
User ID: 74720675
United Kingdom
05/18/2017 05:56 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


1. Property taxes and other on-costs are hidden in your 'rent'.

2. Your plan doesn't apply in many other countries where property tax and other costs are openly additional to rent.

3. When you buy a house on mortgage, you normally get all that interest (plus much more, if you've made a good purchase) back when you sell it. (I paid $50k for my first house. Sold it for £350k after 20yrs. No way I paid $300k in interest, more like $50k - and a good accountant can get that lower)

4. Home purchase on a mortgage is usually the only way most regular people have of a) making significant capital; b) achieving financial freedom and housing security.

5. KEY POINTS:
Baby boomers are in no way responsible for the economic system which has made it all but impossible for many young people to buy their own homes.

In fact, as a boomer I'm well pissed.
It means that my millennial kids have to live like gipsies moving from one place to another and always needing handouts.

PLUS, I know they're just waiting for me to pop my clogs so that they can at last get a deposit to buy their own homes.

No, boomers haven't created this vile mess.
At your age we were even more trapped in the system and dictated to as you feel now. (We had far less access to information/the truth, and expectations on us were far more conventional and narrow.)

FINALLY, the world's money masters have so fucked up that domestic economies are being propped up by inflated property markets and nothing else.
Anonymous Coward
User ID: 70079334
United States
05/18/2017 06:00 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


1. Property taxes and other on-costs are hidden in your 'rent'.

2. Your plan doesn't apply in many other countries where property tax and other costs are openly additional to rent.

3. When you buy a house on mortgage, you normally get all that interest (plus much more, if you've made a good purchase) back when you sell it. (I paid $50k for my first house. Sold it for £350k after 20yrs. No way I paid $300k in interest, more like $50k - and a good accountant can get that lower)

4. Home purchase on a mortgage is usually the only way most regular people have of a) making significant capital; b) achieving financial freedom and housing security.

5. KEY POINTS:
Baby boomers are in no way responsible for the economic system which has made it all but impossible for many young people to buy their own homes.

In fact, as a boomer I'm well pissed.
It means that my millennial kids have to live like gipsies moving from one place to another and always needing handouts.

PLUS, I know they're just waiting for me to pop my clogs so that they can at last get a deposit to buy their own homes.

No, boomers haven't created this vile mess.
At your age we were even more trapped in the system and dictated to as you feel now. (We had far less access to information/the truth, and expectations on us were far more conventional and narrow.)

FINALLY, the world's money masters have so fucked up that domestic economies are being propped up by inflated property markets and nothing else.
 Quoting: Anonymous Coward 74720675




good post. when i was in my 20's, mortgage rates were triple what they are now. and you couldn't punch a few buttons on your phone to learn everything you ever wanted to know about home ownership, tax advantages, mortgage types, rent vs. buy. these youngsters have no idea the advantages they have over their parents at their ages.
SilverPatriot

User ID: 74244586
United States
05/18/2017 06:00 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


Correct you owe your lender bank money for a loan to secure a home and property for yourself through a 15 or 30-year mortgage however, you can pay more some months thus decreasing your loan interest rate thus paying off your loan faster.

Included in your rent is fees for property taxes thus you are not skating out of that obligation.

HOA fees are for individuals or senior citizens ho do not wish to mow their front yards or shovel snow, a convince to these homeowners as they are willing to pay a monthly fee for these services.

When you move you meander off to another location that you will never own sucking all your resources for nothing in return.

Renting is simply lost resources.
NewEarth 5D
User ID: 74914079
Brazil
05/18/2017 06:00 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
you get a tax break for owning a home....and you are building equity

agree though that there are shit homes on sale for way too much money .... even new homes arent all that great structure wise and not for the cost.

many european countries know how to build solid homes ... these are worth buying bc they wont need endless repairs and will be solid for centuries.

american stick houses shldnt cost as much as they do .... it is absurdly ridiculous.

i want to buy again, but i want to pay cash and hv no mortgage bullshit hanging over my head where i can be kicked out by a foreclosure and lose equity. they scoop down on you IMMEDIATELY if you hv a nice home on which they can turn an immediate profit.

fuxk that...so agreee with you op....but if you can afford to buy in cash, just look at property taxes as rent.
 Quoting: Anonymous Coward 72484149


So in THE END you don't "own" ANYTHING.

YOU RENT.
 Quoting: NewEarth 5D 74914079




you 'rent' for the cost of your property taxes. mine are about $600/month...quite high. but i can't rent a 6br 3900 sq. ft. house for $600/month...which is what I OWN.
 Quoting: Anonymous Coward 70079334


STOP PAYING "PROPERTY" TAXES and see how much you "OWN" anything...

You people don't see a MASONIC SCAM right in front of your faces, isn't it???

WHO GAVE THEM THE "RIGHT" TO RENT IT TO YOU???

WHO???

It's pretty simple, really. To quote OP.
BrokenTech

User ID: 74885369
United States
05/18/2017 06:02 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


1. Property taxes and other on-costs are hidden in your 'rent'.

2. Your plan doesn't apply in many other countries where property tax and other costs are openly additional to rent.

3. When you buy a house on mortgage, you normally get all that interest (plus much more, if you've made a good purchase) back when you sell it. (I paid $50k for my first house. Sold it for £350k after 20yrs. No way I paid $300k in interest, more like $50k - and a good accountant can get that lower)

4. Home purchase on a mortgage is usually the only way most regular people have of a) making significant capital; b) achieving financial freedom and housing security.

5. KEY POINTS:
Baby boomers are in no way responsible for the economic system which has made it all but impossible for many young people to buy their own homes.

In fact, as a boomer I'm well pissed.
It means that my millennial kids have to live like gipsies moving from one place to another and always needing handouts.

PLUS, I know they're just waiting for me to pop my clogs so that they can at last get a deposit to buy their own homes.

No, boomers haven't created this vile mess.
At your age we were even more trapped in the system and dictated to as you feel now. (We had far less access to information/the truth, and expectations on us were far more conventional and narrow.)

FINALLY, the world's money masters have so fucked up that domestic economies are being propped up by inflated property markets and nothing else.
 Quoting: Anonymous Coward 74720675




good post. when i was in my 20's, mortgage rates were triple what they are now. and you couldn't punch a few buttons on your phone to learn everything you ever wanted to know about home ownership, tax advantages, mortgage types, rent vs. buy. these youngsters have no idea the advantages they have over their parents at their ages.
 Quoting: Anonymous Coward 70079334


Indeed. All the information they need is at their fingertips now a days. They just will not take the time to research and learn. Maybe because it requires a little effort on their part, its just easier to blame something.
Anonymous Coward
User ID: 47287521
Canada
05/18/2017 06:03 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
People don't live in houses for 10+ years

They move around; upgrade, downgrade

Add in the price (where I'm from) for a real estate each buy/sell for a $250,000 house is $7500, and this is on the lower scale


The discussion for renting and investing vs house payment usually barrels down to how often one moves
Renting is best for people who move often

Dump $50k into a great diverse ETF that pays dividends or on a house

The choices people have


It don't matter, if we ain't talking about eating the global elite this entire society is moot
Anonymous Coward
User ID: 74839109
United States
05/18/2017 06:10 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


1. Property taxes and other on-costs are hidden in your 'rent'.

2. Your plan doesn't apply in many other countries where property tax and other costs are openly additional to rent.

3. When you buy a house on mortgage, you normally get all that interest (plus much more, if you've made a good purchase) back when you sell it. (I paid $50k for my first house. Sold it for £350k after 20yrs. No way I paid $300k in interest, more like $50k - and a good accountant can get that lower)

4. Home purchase on a mortgage is usually the only way most regular people have of a) making significant capital; b) achieving financial freedom and housing security.

5. KEY POINTS:
Baby boomers are in no way responsible for the economic system which has made it all but impossible for many young people to buy their own homes.

In fact, as a boomer I'm well pissed.
It means that my millennial kids have to live like gipsies moving from one place to another and always needing handouts.

PLUS, I know they're just waiting for me to pop my clogs so that they can at last get a deposit to buy their own homes.

No, boomers haven't created this vile mess.
At your age we were even more trapped in the system and dictated to as you feel now. (We had far less access to information/the truth, and expectations on us were far more conventional and narrow.)

FINALLY, the world's money masters have so fucked up that domestic economies are being propped up by inflated property markets and nothing else.
 Quoting: Anonymous Coward 74720675


lovethispost
Anonymous Coward
User ID: 70079334
United States
05/18/2017 06:13 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
you get a tax break for owning a home....and you are building equity

agree though that there are shit homes on sale for way too much money .... even new homes arent all that great structure wise and not for the cost.

many european countries know how to build solid homes ... these are worth buying bc they wont need endless repairs and will be solid for centuries.

american stick houses shldnt cost as much as they do .... it is absurdly ridiculous.

i want to buy again, but i want to pay cash and hv no mortgage bullshit hanging over my head where i can be kicked out by a foreclosure and lose equity. they scoop down on you IMMEDIATELY if you hv a nice home on which they can turn an immediate profit.

fuxk that...so agreee with you op....but if you can afford to buy in cash, just look at property taxes as rent.
 Quoting: Anonymous Coward 72484149


So in THE END you don't "own" ANYTHING.

YOU RENT.
 Quoting: NewEarth 5D 74914079




you 'rent' for the cost of your property taxes. mine are about $600/month...quite high. but i can't rent a 6br 3900 sq. ft. house for $600/month...which is what I OWN.
 Quoting: Anonymous Coward 70079334


STOP PAYING "PROPERTY" TAXES and see how much you "OWN" anything...

You people don't see a MASONIC SCAM right in front of your faces, isn't it???

WHO GAVE THEM THE "RIGHT" TO RENT IT TO YOU???

WHO???

It's pretty simple, really. To quote OP.
 Quoting: NewEarth 5D 74914079



i say again...for $600/month, i get to live in a huge, nice home worth over $360k.

that $600/month also pays for the good public schools that my kids attend, it pays for police and fire services, and it buys be a much reduced tuition rate to the local community college if my kids want to take classes.

that $600/month also reduces my taxable income by over $7k per year...thus reducing my federal tax burden in years when i actually have one.

and if i get tired of taking care of my home, i can sell it and walk away with over $300k. or, i can rent it out to people like you for the going rate...around $2k/month in my area. even if i set aside half that for my taxes and maintenance, i still pocket $1k/month...that i can use toward another personal residence or rental property.

i can do this because over the last 30 years, i've only rented for about 9 of them and i have owned for the rest.

i've never needed an auto loan because i've always been able to borrow against my home equity with low tax-deductible interest.

live however you want but in this country, none of us ever truly own anything. for building wealth and net worth, owning real estate in the right location is rarely the wrong thing to do.
Anonymous Coward
User ID: 72639541
United States
05/18/2017 06:16 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^


^^ this

I'm 35 and the only thing I've seen real estate do in my life is go up up up.

But thanks for drinking the kool-aid and being convinced to not ever buy a house, you are just making it easier for me to make money.
Anonymous Coward
User ID: 237680
United States
05/18/2017 06:22 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
You'll change your mind.

Buy a farm and you can pay for it. Be smart and it will make you rich in 25 years.

And you can build and modify as you wish.
Anonymous Coward
User ID: 72639541
United States
05/18/2017 06:27 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


Long term on houses they never depreciate sorry they just don't..

Maybe in a 5 year period you might experience some loss.

But you point to me one area besides the rust belt that has not had double digit gains in property value over the last 30 years.

My girlfriends parents bought their home in 1991 in portland oregon for 80k....

That same house now would sell for 600k.....

You show me one investment that has that good of a return and brief will suck your dick, no really he will he's gay.
Copperhead

User ID: 74906701
05/18/2017 06:29 PM

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Re: Why I, as a Milennial, will NEVER be buying a House
Just for comparison OP:

If you pay 1000 dollars a month rent for 30 years you will have paid your landlord 360,000 dollars and you own nothing.
 Quoting: Anonymous Coward 73879557


What do I need to "own" for?

Most of your money is getting dumped towards interest. You'll be getting suckered into paying inflated interest money while barely touching your principle, all for a house that you don't actually own, seeing how you pay property taxes on it.
 Quoting: Anonymous Coward 74561869


I had our acreage paid off in 15 years and have been living house payment and rent free for about 20 years. Beats the hell out of paying rent your whole life.
Anonymous Coward
User ID: 4255546
United States
05/18/2017 06:31 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Op do what's right for you. If you wish to rent your house, your car, your phone, your furniture, your girlfriend...then stfu and go rent. You don't own your responsibilities or thought, so why the hell would you own anything else.
Copperhead

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05/18/2017 06:32 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


Long term on houses they never depreciate sorry they just don't..

Maybe in a 5 year period you might experience some loss.

But you point to me one area besides the rust belt that has not had double digit gains in property value over the last 30 years.

My girlfriends parents bought their home in 1991 in portland oregon for 80k....

That same house now would sell for 600k.....

You show me one investment that has that good of a return and brief will suck your dick, no really he will he's gay.
 Quoting: Anonymous Coward 72639541


My acreage is assessed at 5X what we bought it for in the '80s.
jpop

User ID: 74840967
United States
05/18/2017 06:37 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.
Anonymous Coward
User ID: 70079334
United States
05/18/2017 06:41 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 think they believe that signing a 30 year mortgage means you will actually be making all 360 payments on that home. i've never lived in a home longer than 84 payments before flipping it for a profit.
NewEarth 5D
User ID: 74914079
Brazil
05/18/2017 06:42 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
...


So in THE END you don't "own" ANYTHING.

YOU RENT.
 Quoting: NewEarth 5D 74914079




you 'rent' for the cost of your property taxes. mine are about $600/month...quite high. but i can't rent a 6br 3900 sq. ft. house for $600/month...which is what I OWN.
 Quoting: Anonymous Coward 70079334


STOP PAYING "PROPERTY" TAXES and see how much you "OWN" anything...

You people don't see a MASONIC SCAM right in front of your faces, isn't it???

WHO GAVE THEM THE "RIGHT" TO RENT IT TO YOU???

WHO???

It's pretty simple, really. To quote OP.
 Quoting: NewEarth 5D 74914079



i say again...for $600/month, i get to live in a huge, nice home worth over $360k.

that $600/month also pays for the good public schools that my kids attend, it pays for police and fire services, and it buys be a much reduced tuition rate to the local community college if my kids want to take classes.

that $600/month also reduces my taxable income by over $7k per year...thus reducing my federal tax burden in years when i actually have one.

and if i get tired of taking care of my home, i can sell it and walk away with over $300k. or, i can rent it out to people like you for the going rate...around $2k/month in my area. even if i set aside half that for my taxes and maintenance, i still pocket $1k/month...that i can use toward another personal residence or rental property.

i can do this because over the last 30 years, i've only rented for about 9 of them and i have owned for the rest.

i've never needed an auto loan because i've always been able to borrow against my home equity with low tax-deductible interest.

live however you want but in this country, none of us ever truly own anything. for building wealth and net worth, owning real estate in the right location is rarely the wrong thing to do.
 Quoting: Anonymous Coward 70079334


You didn't answer the question that I posted.

WHO gave THEM the "RIGHT" to RENT it to YOU???

WHO??
Elegant Walnut

User ID: 61448539
Canada
05/18/2017 06:44 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



Wise position in a downgrading market, unwise position in an upgrading market.
Anonymous Coward
User ID: 70079334
United States
05/18/2017 06:44 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
...




you 'rent' for the cost of your property taxes. mine are about $600/month...quite high. but i can't rent a 6br 3900 sq. ft. house for $600/month...which is what I OWN.
 Quoting: Anonymous Coward 70079334


STOP PAYING "PROPERTY" TAXES and see how much you "OWN" anything...

You people don't see a MASONIC SCAM right in front of your faces, isn't it???

WHO GAVE THEM THE "RIGHT" TO RENT IT TO YOU???

WHO???

It's pretty simple, really. To quote OP.
 Quoting: NewEarth 5D 74914079



i say again...for $600/month, i get to live in a huge, nice home worth over $360k.

that $600/month also pays for the good public schools that my kids attend, it pays for police and fire services, and it buys be a much reduced tuition rate to the local community college if my kids want to take classes.

that $600/month also reduces my taxable income by over $7k per year...thus reducing my federal tax burden in years when i actually have one.

and if i get tired of taking care of my home, i can sell it and walk away with over $300k. or, i can rent it out to people like you for the going rate...around $2k/month in my area. even if i set aside half that for my taxes and maintenance, i still pocket $1k/month...that i can use toward another personal residence or rental property.

i can do this because over the last 30 years, i've only rented for about 9 of them and i have owned for the rest.

i've never needed an auto loan because i've always been able to borrow against my home equity with low tax-deductible interest.

live however you want but in this country, none of us ever truly own anything. for building wealth and net worth, owning real estate in the right location is rarely the wrong thing to do.
 Quoting: Anonymous Coward 70079334


You didn't answer the question that I posted.

WHO gave THEM the "RIGHT" to RENT it to YOU???

WHO??
 Quoting: NewEarth 5D 74914079


ok..if you want to play the 'sovereign citizen', go for it. i choose to play their game using their own rules to my advantage. fewer red flags that way.
Anonymous Coward
User ID: 24963990
United States
05/18/2017 06:46 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
Home ownership is heavily marketed for a reason. They want Americans to be in debt. It isnt worth it, especially if you dont have children or a family. The taxes on my house have increased so much to where I have no choice but to sell by the end of this year. I bought my house for $265,000. I put down 4%. My monthly payments, last year, were $2000. This year its $2500. And thats not even including the other ridiculously high fees I have to pay.

Do not buy. It is a scam. I was coerced by family members to buy a house and "build equity" but it has done nothing but damage my finances. It's not worth it. I've paid thousands in interest. I'm putting my house on the market by the end of this summer and I will be renting a house for $1550 a month. I'm never doing this again.
 Quoting: Anonymous Coward 45747000


You probably bought more house than you need and through ignorance you did not research the taxes and fees. And you probably did a 30 year loan also.
 Quoting: BrokenTech

If you cannot buy in cash it's more than you can afford.

Retards propping up house prices by taking out a mortgage on a home they can't afford without borrowing money they don't have.
NewEArth 5D
User ID: 74914079
Brazil
05/18/2017 06:46 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
You people DO KNOW that in ADVANCED EXTRATERRESTRIAL CIVILIZATIONS there is NO RENT to pay to "OWN" ANYTHING right???

No wonder you PEASANTS play THEIR games with such gusto!

You AIN'T NO ADVANCED SOCIETIES.

You are WILLFULL SLAVES.
NewEarth 5D
User ID: 74914079
Brazil
05/18/2017 06:47 PM
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Re: Why I, as a Milennial, will NEVER be buying a House
...


STOP PAYING "PROPERTY" TAXES and see how much you "OWN" anything...

You people don't see a MASONIC SCAM right in front of your faces, isn't it???

WHO GAVE THEM THE "RIGHT" TO RENT IT TO YOU???

WHO???

It's pretty simple, really. To quote OP.
 Quoting: NewEarth 5D 74914079



i say again...for $600/month, i get to live in a huge, nice home worth over $360k.

that $600/month also pays for the good public schools that my kids attend, it pays for police and fire services, and it buys be a much reduced tuition rate to the local community college if my kids want to take classes.

that $600/month also reduces my taxable income by over $7k per year...thus reducing my federal tax burden in years when i actually have one.

and if i get tired of taking care of my home, i can sell it and walk away with over $300k. or, i can rent it out to people like you for the going rate...around $2k/month in my area. even if i set aside half that for my taxes and maintenance, i still pocket $1k/month...that i can use toward another personal residence or rental property.

i can do this because over the last 30 years, i've only rented for about 9 of them and i have owned for the rest.

i've never needed an auto loan because i've always been able to borrow against my home equity with low tax-deductible interest.

live however you want but in this country, none of us ever truly own anything. for building wealth and net worth, owning real estate in the right location is rarely the wrong thing to do.
 Quoting: Anonymous Coward 70079334


You didn't answer the question that I posted.

WHO gave THEM the "RIGHT" to RENT it to YOU???

WHO??
 Quoting: NewEarth 5D 74914079


ok..if you want to play the 'sovereign citizen', go for it. i choose to play their game using their own rules to my advantage. fewer red flags that way.
 Quoting: Anonymous Coward 70079334


YOU DID NOT ANSWER THE QUESTION.

ANSWER THE FUCKING SIMPLE QUESTION.


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