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.

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.

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!)

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.

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.

When it comes to a home, there are more than just leasing or buying as options.

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.

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.

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.

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.

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.

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?

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

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

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.

Baby Boomers are the most entitled generation in history. But since you're all also narcissist, you'd never admit it.

Get a fucking job geeze

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.

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.

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

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

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.

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

And that is how it's done.