zappaisgod said:

qman said:

Patlal said:

The minute you have enough money to buy a house, do it.

If possible, never rent.

Rent is what makes rich people richer and poor people poorer.

There's always a deal out there.

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Really, owning a home has lost millions of people their life savings in a matter of a few years. A good percentage of current homeowners (40% or more) have negative equity in their homes today, they owe more than the house is worth.

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I believe that this statement is complete bullshit.

Quote:

Remember, real estate is a leveraged investment, and we all know how leverage works, great on the upside, no fun on the downside.

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So declare bankruptcy and walk away so intelligent people can pay an intelligent price.  Only in Hollywood's imagination do Gumps get rich without winning the lottery.

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Prisoner#1 said:

qman said:

Patlal said:

The minute you have enough money to buy a house, do it.

If possible, never rent.

Rent is what makes rich people richer and poor people poorer.

There's always a deal out there.

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Really, owning a home has lost millions of people their life savings in a matter of a few years. A good percentage of current homeowners (40% or more) have negative equity in their homes today, they owe more than the house is worth.

Remember, real estate is a leveraged investment, and we all know how leverage works, great on the upside, no fun on the downside.

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no, that's the retardation of those particular buyers, most got inflated
loans so they could get a few toys, many took out second and even third
mortgages, there's also the variable rate mortgages to people that knew
they couldnt pay it back when the interest rate climbed. these were
dumbasses that were too interested in keeping up with the jones' to bother
reading contracts. they made bad financial decisions and many decided to
play more than pay

I have 100% equity in my place, the value didnt drop, it's increased even
during this time of burst bubbles. why? because I wasnt stupid about it

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badchad said:

I think you have to consider that the times of homes doubling in value every 5-10 years may be over.

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badchad said:

I'd also encourage you to buy a home, and try not to look at it as an investment.

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badchad said:

Nobody can predict what the real estate market is going to do.

Two years ago, when I bought a home I heard the same thing:  "Prices are at an all time low, interest rates are down, and now is the time to buy".  Since that time, prices (at least in my area) haven't budged and have probably slipped a bit.

I think you have to consider that the times of homes doubling in value every 5-10 years may be over. 

With all that being said, people will always need a place to live.  Always.  If they aren't buying they'll be renting, and that will drive rent prices up.  I'd say that if you plan on staying put in one place for at least three years, then buy.

I'd also encourage you to buy a home, and try not to look at it as an investment.

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Sounds right. I would look at home ownership as a sanctuary that is all mine and private. Not really an investment to sell in a few years, but something to sell when I decide/have to go into some kind of care facility/retirement home (no kids and I am the youngest of the youngest). It is interesting to see how this small segment of 18-25 y.o. (mostly) are thinking about this. Me being 47 and with a wanderlust to quench is what made me think about asking this here. If I had the flow I would buy at least 2 properties right now.

To the one who said land is where it's at, you're right about that. I would buy both if I could. I will probably have the opportunity to buy something in about 5 years or so, and who knows where I will be then. I can only plan and speculate.

tyrannicalrex said:

I would look at home ownership as a sanctuary that is all mine and private. Not really an investment to sell in a few years, but something to sell when I decide/have to go into some kind of care facility/retirement home (no kids and I am the youngest of the youngest).

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Prisoner#1 said:

really? I never have to worry about rent, I never have to worry about it
going up, if I wanted to grow something illegal I'd never have to worry
about the landlord stopping by to do an inspection, if I need a lot of money
really fast I could take out an equity loan and have it in a couple of days

what can be said about renting, you dont have to worry about repairs?
except if the landlord isnt on top of shit you can be without heat or
water for a couple of days, if the roof collapsed you could be looking
for a place to live, for me, I'd just turn it over to insurance and get
paid to do the roof repairs

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zappaisgod said:

DieCommie said:

I rent and see no reason to buy in the near future.  Houses in my area are over priced and property taxes have gone up 30% in the past 5 years.

I would consider buying if I got a real high pay job or if prices/taxes fall quite a bit, but I dont see either happening.

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How the fuck are prices in your area over-priced when they have dropped or stagnated all over the country?  Where the hell do you live?  They aren't overpriced if people are paying it.  As far as I can tell this is the greatest property buying opportunity in my lifetime with bottomed out prices and bottomed out interest rates.  Which is not to say that ownership is for everyone but, if you want in, now is the best time I have ever seen.

One other thing regarding your comment about property taxes.  Who do you think is the ultimate payer of property taxes on a rental unit?  It isn't the landlord.

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Good advice in your post. It was sad to click on your signature and see such a partisan hack job on that debunked myth that Obama is this huge spender. First of all Congress controls the purse strings and we have a Republican Congress. Secondly the fiscal year runs from October 1st to September 30th of every year. Meaning that the 2009 Fiscal Year (October 1st, 2008 to September 30th, 2009) was passed and put together under Bush. Our deficit was $1.2 trillion in 2009 and Obama is not responsible for it, Bush was. Bush handed Obama the worst economy in 100 years, we were bleeding 800,000 jobs a month when Obama took over. The economy averaged a loss of 732,000 jobs a month from November 2008 to March 2009. And we have since added 4.4 million private sector jobs since February 2010, with a net gain each month for 28 straight months, and with more than half a million government jobs gone over the same period! He turned the economy around, saved the auto sector, captured Bin Laden, withdrew our troops from Iraq, and is reforming our absurdly expensive health care system.

What an embarrassing crock of sh!t hack job chart. Showing Bush with a $400 billion deficit in his last year when it was really triple that; $1.2 trillion!




Bush has one of the worst records on job creation ever.

Confucian said:

zappaisgod said:

DieCommie said:

I rent and see no reason to buy in the near future.  Houses in my area are over priced and property taxes have gone up 30% in the past 5 years.

I would consider buying if I got a real high pay job or if prices/taxes fall quite a bit, but I dont see either happening.

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How the fuck are prices in your area over-priced when they have dropped or stagnated all over the country?  Where the hell do you live?  They aren't overpriced if people are paying it.  As far as I can tell this is the greatest property buying opportunity in my lifetime with bottomed out prices and bottomed out interest rates.  Which is not to say that ownership is for everyone but, if you want in, now is the best time I have ever seen.

One other thing regarding your comment about property taxes.  Who do you think is the ultimate payer of property taxes on a rental unit?  It isn't the landlord.

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Good advice in your post. It was sad to click on your signature and see such a partisan hack job on that debunked myth that Obama is this huge spender. First of all Congress controls the purse strings and we have a Republican Congress. Secondly the fiscal year runs from October 1st to September 30th of every year. Meaning that the 2009 Fiscal Year (October 1st, 2008 to September 30th, 2009) was passed and put together under Bush. Our deficit was $1.2 trillion in 2009 and Obama is not responsible for it, Bush was. Bush handed Obama the worst economy in 100 years, we were bleeding 800,000 jobs a month when Obama took over. The economy averaged a loss of 732,000 jobs a month from November 2008 to March 2009. And we have since added 4.4 million private sector jobs since February 2010, with a net gain each month for 28 straight months, and with more than half a million government jobs gone over the same period! He turned the economy around, saved the auto sector, captured Bin Laden, withdrew our troops from Iraq, and is reforming our absurdly expensive health care system.

What an embarrassing crock of sh!t hack job chart. Showing Bush with a $400 billion deficit in his last year when it was really triple that; $1.2 trillion!




Bush has one of the worst records on job creation ever.

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zappaisgod said:

Do you really think it is efficacious to constantly move whenever tax hikes show up in a rent increase?

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Sure.  My rent hasnt gone up in three years.  The minute it does, we are out of here.  Rent is too damn high as it is. 

unam sanctum said:

Prisoner#1 said:

really? I never have to worry about rent, I never have to worry about it
going up, if I wanted to grow something illegal I'd never have to worry
about the landlord stopping by to do an inspection, if I need a lot of money
really fast I could take out an equity loan and have it in a couple of days

what can be said about renting, you dont have to worry about repairs?
except if the landlord isnt on top of shit you can be without heat or
water for a couple of days, if the roof collapsed you could be looking
for a place to live, for me, I'd just turn it over to insurance and get
paid to do the roof repairs

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Yeah but property and estate taxes are a kind of rent

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Confucian said:

we were bleeding 800,000 jobs a month when Obama took over. The economy averaged a loss of 732,000 jobs a month from November 2008 to March 2009. And we have since added 4.4 million private sector jobs since February 2010

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Prisoner#1 said:

Confucian said:

we were bleeding 800,000 jobs a month when Obama took over. The economy averaged a loss of 732,000 jobs a month from November 2008 to March 2009. And we have since added 4.4 million private sector jobs since February 2010

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that's inaccurate, people falling from unemployment doesnt mean that jobs are
created or that the unemployment rate is dropping, it means they're no longer
collecting and they're no longer counted. there's about 80 million people,
37% of the workforce out of work currently, during the clinton administration
they started juggling the numbers to reflect a lower unemployment rate, t no
different than when greenspan refused to announce we were in a recession or
bernanke admitting we're a depression.

now, you referring to a republican controlled house, obama took office with
a democrat controlled congress, both houses, filibuster proof majority,
they passed enormous budgets and spending bills and now the media is trying
to place this crap on a republican controlled house. obama has doubled the
national debt since he's taken office and every bit of it is politic as
usual... spend spend, spend... from both parties

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Prisoner#1 said:

Confucian said:

we were bleeding 800,000 jobs a month when Obama took over. The economy averaged a loss of 732,000 jobs a month from November 2008 to March 2009. And we have since added 4.4 million private sector jobs since February 2010

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that's inaccurate, people falling from unemployment doesnt mean that jobs are
created or that the unemployment rate is dropping, it means they're no longer
collecting and they're no longer counted.

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Yup, when my unemployment ran out, Obama said, one new job created

Confucian said:

Clinton created almost 23 million jobs
"From January 1993 to January 2001, the nation gained 22.7 million total jobs."

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Quote:

Bush had a horrible jobs record
"During Bush’s eight years in office -- January 2001 to January 2009 -- the nation actually gained a net 1.09 million jobs. (Because there were gains in government jobs, the private sector actually lost 653,000 jobs during that period.)"
http://www.politifact.com/truth-o-meter/statements/2011/aug/03/harry-reid/harry-reid-says-8-million-jobs-lost-during-george-/

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Quote:

During Clinton's last 4 years in office we had a surplus every year (98, 99, 00, and 01). 2001 = October 1, 2000 well before Bush was elected through September 30, 2001).

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Quote:

10/1/2009: Obama starting deficit – $11.9 trillion

9/30/2011: Obama ending deficit – $14.8 trillion

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Prisoner#1 said:

Confucian said:

Clinton created almost 23 million jobs
"From January 1993 to January 2001, the nation gained 22.7 million total jobs."

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a president cant create jobs that are outside of the public sector

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Confucian said:

Good advice in your post. It was sad to click on your signature and see such a partisan hack job on that debunked myth that Obama is this huge spender. First of all Congress controls the purse strings and we have a Republican Congress. Secondly the fiscal year runs from October 1st to September 30th of every year. Meaning that the 2009 Fiscal Year (October 1st, 2008 to September 30th, 2009) was passed and put together under Bush. Our deficit was $1.2 trillion in 2009 and Obama is not responsible for it, Bush was. Bush handed Obama the worst economy in 100 years, we were bleeding 800,000 jobs a month when Obama took over. The economy averaged a loss of 732,000 jobs a month from November 2008 to March 2009. And we have since added 4.4 million private sector jobs since February 2010, with a net gain each month for 28 straight months, and with more than half a million government jobs gone over the same period! He turned the economy around, saved the auto sector, captured Bin Laden, withdrew our troops from Iraq, and is reforming our absurdly expensive health care system.

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Patlal said:

Prisoner#1 said:

Confucian said:

Clinton created almost 23 million jobs
"From January 1993 to January 2001, the nation gained 22.7 million total jobs."

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a president cant create jobs that are outside of the public sector

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So what your saying is that all the shit you talked about Obama not creating employment is false cause he technically cant do anything in the private sector. So he can't be blamed for all the job loss either. So when you take that out of the equation, the guy actually lools like a good president

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