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| 12:01 AM | ||
| Users Online Now: 1,505 (Who's On?) | Visitors Today: 1,051 | |
| Pageviews Today: 2,543 | Threads Today: 1 | Posts Today: 9 |
| 12:01 AM | ||
Why I, as a Milennial, will NEVER be buying a House | |
| Anonymous Coward User ID: 74561869  United States05/18/2017 12:53 PM Report Abusive Post Report Copyright Violation | |
| Apocalypse Troll Trollicus Apocalyptus  User ID: 72205308 United States05/18/2017 01:04 PM  Report Abusive Post Report Copyright Violation | lolz  "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  Ireland05/18/2017 01:06 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 22254598 United States05/18/2017 01:07 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 71745610 United States05/18/2017 01:09 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 70552997 United States05/18/2017 01:09 PM Report Abusive Post Report Copyright Violation | |
| MyLifeForYou! User ID: 71740445 United States05/18/2017 01:11 PM Report Abusive Post Report Copyright Violation | lol Quoting: ^TrInItY^ ok then you can pay someone like me rent :) we'll accumulate wealth while you will struggle to keep your head above water... 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. |
| Anonymous Coward User ID: 7976936 United States05/18/2017 01:12 PM Report Abusive Post Report Copyright Violation | 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 States05/18/2017 01:14 PM Report Abusive Post Report Copyright Violation | It's pretty simple, really. Quoting: Anonymous Coward 74561869 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. 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 States05/18/2017 01:16 PM Report Abusive Post Report Copyright Violation | It's pretty simple, really. Quoting: Anonymous Coward 74561869 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. 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. 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 States05/18/2017 01:18 PM Report Abusive Post Report Copyright Violation | 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  Australia05/18/2017 01:19 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 73265665 United States05/18/2017 01:21 PM Report Abusive Post Report Copyright Violation | It's pretty simple, really. Quoting: Anonymous Coward 74561869 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. 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 States05/18/2017 01:21 PM Report Abusive Post Report Copyright Violation | 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 States05/18/2017 01:27 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward (OP) User ID: 74561869 United States05/18/2017 01:35 PM Report Abusive Post Report Copyright Violation | I don't think you understand inflation. Quoting: Anonymous Coward 74876377 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. 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 States05/18/2017 01:38 PM  Report Abusive Post Report Copyright Violation |  Isaiah 40:31 - But they that wait upon the Lord shall renew their strength; they shall mount up with wings as eagles; they shall run, and not be weary; and they shall walk, and not faint. “They’ve got us surrounded again, the poor bastards.” - U.S. Army Paratrooper at Bastogne |
| Anonymous Coward User ID: 18808534 United States05/18/2017 01:39 PM Report Abusive Post Report Copyright Violation |  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 States05/18/2017 01:41 PM Report Abusive Post Report Copyright Violation | It's pretty simple, really. Quoting: Anonymous Coward 74561869 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. 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.  |
| Anonymous Coward User ID: 18808534 United States05/18/2017 01:41 PM Report Abusive Post Report Copyright Violation | |
| Boomer User ID: 26609370 United States05/18/2017 01:42 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 74896363 United States05/18/2017 01:42 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 74453278 United States05/18/2017 01:42 PM Report Abusive Post Report Copyright Violation | 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 States05/18/2017 01:43 PM Report Abusive Post Report Copyright Violation | 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 States05/18/2017 01:44 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 17501290 United States05/18/2017 01:44 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 74662577 United States05/18/2017 01:48 PM Report Abusive Post Report Copyright Violation | It's pretty simple, really. Quoting: Anonymous Coward 74561869 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. 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 States05/18/2017 01:48 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 74839109 United States05/18/2017 01:48 PM Report Abusive Post Report Copyright Violation | It's pretty simple, really. Quoting: Anonymous Coward 74561869 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. 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. I don't think it will crash in most places. Rinse and repeat 2008 every 15 years. |
| Anonymous Coward User ID: 74896363 United States05/18/2017 01:48 PM Report Abusive Post Report Copyright Violation | |
| Boomer User ID: 26609370 United States05/18/2017 01:49 PM Report Abusive Post Report Copyright Violation | |
