| cj 
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Madison, WI
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In United States
Registered Aug 10, 2010
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cj's most recent comments:
- On 10 Aug 2010
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The other side of renting,
cj said:
Just because owning a house is more expensive now, it doesn't mean you shouldn't do it. I think you can work around the rental problems, but if you don't want to and have the money to risk, there's no big deal in buying a house. My problem is paying today's prices if you can't afford to lose some of the money or somehow convincing yourself you're investing rather than spending your money on something you want. - On 10 Aug 2010
in
Mortgage rates hit low of 4.49 pct. (buy an overpriced house today!),
cj said:
The only house I ever owned I purchased in 2000, with a 30-yr fixed rate of 8.5%. (I sold in summer of 2004 and started renting.)
Nothing seems so fundamentally different about the world now that rates couldn't go back to 8.5%. They were in that range for years, and it was no big deal. It would be no big deal again. If it happens, it will drastically cut how much of a loan people can qualify for.
I can't imagine how people with modest net worths can purchase a house now without being afraid of that. I have no idea whether rates are going to rise significantly from their current all-time lows, but it seems very possible. Owning a house now seems like owning a house without insurance against fire. - On 10 Aug 2010
in
How to ask for a rent reduction,
cj said:
We asked our landlord if we could have a 6% reduction in exchange for paying the rent in six-month blocks. I think the landlord accepted b/c a) it reduces risk we won't pay and b) it allowed him to pay off some debt a few months earlier.
One commenter said something about a renter finding himself with no place to live. I don't see a shortage of rentals, so I don't know what that's about. But that commenter did have one good point: when negotiating anything the most important thing is being prepared to walk away.
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