Patrick.net

I'm Proud To Rent!

By billdeegan   Follow   Wed, 20 Jun 2012, 12:05pm   4,599 views   63 comments
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http://www.renternation.com/proud-to-rent/

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1. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   1   12:08pm Wed 20 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   its sure nice renting when home prices are going down in price. its really hell when you see SFR's going up 25% a year, year after year. (one year vegas median price went up 50%! i think that was 05)

2. Call it Crazy Follow Befriend 229 threads 2,790 comments

   2   7:26pm Wed 20 Jun 2012   Share   Quote   Permalink   Like (2)   Dislike (3)   Go Ask Alice says PockyClipsNow says its sure nice renting when home prices are going down in price. It sure is. Absolutely, and the equity from my past house is in my pocket instead of getting "vaporized" in the downward spiral of prices....

3. Call it Crazy Follow Befriend 229 threads 2,790 comments

   3   8:09pm Wed 20 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (3)   robertoaribas says BUT with 3 big dogs, a cat, kayaks, all my power tools to fix homes, all of my cousins tools to fix cars... it would have been tough. So, despite feeling certain the market would collapse, I stayed in a home I owned in Tempe. Yea, but you could have bought a whole lot more power tools and dogs with the equity that "vaporized" by owning... Remember, "He who dies with the most toys, wins"!!!

4. Call it Crazy Follow Befriend 229 threads 2,790 comments

   4   8:25pm Wed 20 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (3)   ptiemann says .. primary residence is not about money to me, it's a place to live. Until, unexpectedly, you have to sell it..... good luck with negative equity...

5. Call it Crazy Follow Befriend 229 threads 2,790 comments

   5   8:27pm Wed 20 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   ptiemann says I suspect that for Roberto the quality of life (not having to move, staying in a familiar environment, whatever you want to call it) is worth more than $100k or $200k of lost equity. It must be nice to be so rich that $100K to $200K can be considered "pocket change" to be thrown away....

6. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

   6   8:40am Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   robertoaribas says I would have rented after I sold most of my homes in Phoenix, in 2005 and 2006. BUT with 3 big dogs, a cat, kayaks, all my power tools to fix homes, all of my cousins tools to fix cars... it would have been tough. So, despite feeling certain the market would collapse, I stayed in a home I owned in Tempe. You could sold that and rented similar home. Why is that a home should always be owned and not rented?

7. bmwman91 Follow Befriend (7) 37 threads 1,541 comments Mountain View, CA bmwman91's website Premium

   7   9:54am Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   robertoaribas says I would have rented after I sold most of my homes in Phoenix, in 2005 and 2006. BUT with 3 big dogs, a cat, kayaks, all my power tools to fix homes, all of my cousins tools to fix cars... it would have been tough. So, despite feeling certain the market would collapse, I stayed in a home I owned in Tempe. I hear you on that one. Renting doesn't bug me at all since in this area, I save tons of cash in an apartment versus buying a house. Condos and townhouses aren't options because I want a house to do the stuff you are doing. In fact, I don't want a HOUSE, I want a GARAGE. A big one, detached from the house and with some good acoustic isolation so that I can run table saws, lathes, welders and whatever the hell else I want into the wee hours of the night. So, if you are a DIY "doer" I totally understand why you would remain in the house. And shit, if ANYTHING cost $230k around here I'd just stay in it. That's basically the down payment my fiancee and I have been saving for the last 8 years. There is more to the housing thing than just money, as you seem to be keenly aware. Lifestyle is a giant factor, usually. Most people on PNet are really caught up in the financials (I definitely am) because they are in the SFBA, and in the SFBA a house in laughable condition in a semi-OK neighborhood with less than a 40 minute commute starts at $400k. If houses here cost what they do elsewhere, I doubt that anyone on here would be griping about it. Since they are expensive enough to cause complete and total financial ruin, we all run around wringing our hands! Thankfully for me, my parents live about 20 miles from me. I have access to my dad's wood/machine shop setup in their garage, so I basically have zero reason to be trying to buy a house now. I can rent a cheap apartment (cheap is a relative term, too) and go make a mess over there. I'm happy since I get to work on all sorts of stuff (custom speakers, motor swaps, building custom furniture, aluminum casting, etc) and they are happy because they get to see their son & fiancee. It also helps that I clean up after myself lol.

8. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   8   10:18am Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   motor swaps hard to do in apartments thats fer sure!

9. bmwman91 Follow Befriend (7) 37 threads 1,541 comments Mountain View, CA bmwman91's website Premium

   9   10:37am Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   PockyClipsNow says motor swaps hard to do in apartments thats fer sure! Hard, but not impossible in my car port. The manager doesn't allow any maintenance activity other than cleaning windows though, so I have to do it elsewhere!

10. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    10   10:49am Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   bmwman91 says In fact, I don't want a HOUSE, I want a GARAGE. A big one, detached from the house and with some good acoustic isolation so that I can run table saws, lathes, welders and whatever the hell else I want into the wee hours of the night. bmwman91 says I'm happy since I get to work on all sorts of stuff (custom speakers, motor swaps, building custom furniture, aluminum casting, etc) and they are happy because they get to see their son & fiancee. It also helps that I clean up after myself lol. Hey I thought I was the only one! I mess around with model trains, so my biggest "need" is a large, dry, finished basement! The rest of the house? It just contributes to heating/cooling costs and needs to be constantly cleaned...who wants that? I guess I want a house that is a "man cave." Can you tell I don't have a wife?

11. Call it Crazy Follow Befriend 229 threads 2,790 comments

    11   11:35am Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   wthrfrk80 says Can you tell I don't have a wife? Boy, your lucky!!!!

12. BoomAndBustCycle Follow Befriend 28 threads 351 comments

    12   11:44am Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   Go Ask Alice says lmao... Dude... you're so full of shit your'e now getting real laughs from me. Troll on brother... troll on. Why is he "full of shit" he admitted he stayed in his home... I'd be more skeptical of anyone who claimed they cashed out and rented since 2006. I call bullshit on most of those posters.

13. CaptainShuddup Follow Befriend (1) 250 threads 4,758 comments

    13   11:55am Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   E-man says Why be tied down when you can be flexible moving at your own time? [Knock Knock] "Who is it?" "it's the landlord, I've decided to not renew your lease and you can stay month to month. I'm raising your rent $125 this month but who knows how much I'll raise in 4 moths from now." [ring ring]"Hello" "Yes I'm calling about your appartment" "Yes it's $1800 a month for a 2 br, I require first last and a month for deposit, and to be honest when you move I've never ever once given back the deposit. I don't accept pets, you can only have one car, you must keep the noise down to a whisper, no company after 10 o'clock at night, you have to cut the grass, and are responsible for the water bill, and you'll share an electric meter with the efficiency in the back I rent out to transients, that come and go and host an endless parade of crack whores and pill heads." Yeah that's quite a life you renters have going there. Puhleeze I rented all of my adult life, until a year and a half ago, don't go selling that lie what a paradise renting is. You are at the mercy and whims of everyone but your own standards.

14. CrazyMan Follow Befriend 449 comments Boulder Creek, CA

    14   12:12pm Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike   Interesting, I've been renting for my entire adult life and never had any of those problems. I guess you're just not a desirable renter.

15. Mobi Follow Befriend 1 threads 241 comments

    15   12:28pm Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   I like renting and am renting b/c it saves me time plus the price is dropping. But, why wouldn't you buy with 3.5% FHA loan if you live in a non-recourse state? (I know some people despise this but I am just honest here.)

16. curious2 Follow Befriend (5) 31 threads 2,265 comments Premium

    16   1:04pm Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   ptiemann says primary residence is not about money to me, it's a place to live. If enough people thought that way, the RE bubble might never have happened. Instead, too many bought all they could borrow, beyond what they needed or could really afford, because they imagined getting rich from capital gains exempt from federal tax. I rent in a jurisdiction with rent stabilization. My rent goes up a little each year, based on CPI, so I don't have to worry about a game-playing landlord trying to triple the rent arbitrarily. (That used to be called "mailbox roulette.") In my opinion it is a good solution to the universal need for shelter: I get a reasonable level of stability and security, and the landlords get a reasonable return on their investment (unlike dot-con "investors", for example). I would rather buy though, if our government would let sale prices fall to market levels instead of propping them up. Owning confers greater ability to make improvements.

17. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    17   1:06pm Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Whoa whoa wait... Houses are primarily a place to live? I thought they were magic boxes that spewed free money right into my bank account. Thanks for ruining my day.

18. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    18   1:22pm Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   And when there's an earthquake that destroys the place, you can just walk away and say, "well...sucks to be you!" ;-)

19. Call it Crazy Follow Befriend 229 threads 2,790 comments

    19   1:30pm Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   pazuzu says I'm renting a very large house in the Bay Area, to buy it would cost 3 times rent. LOL pretty typical for the expensive areas around here. Been in it for 8 years, nice and stable. When the roof started leaking bad I just laughed. Poor landlord didn't though. Its in a slow slide area and when a retaining wall finally started tipping over too far I just laughed. Landlord didn't though... BIG BUCKS. Spacious wooden deck has started rotting in some spots, l just laugh... But, But, But..... you HAVE to own a house... you need long term stability... wait, you have that..... OK- you HAVE to own the house so you can lose $100K to $200K in equity in trade for stability.. wait, that don't work either...... OK - you HAVE to own the house so you can dump tons of money into maintainance and repairs... wait, you're the renter, not your problem..... Yep, looks like you being a renter for the last 8 years has really done you wrong!!! /sarc

20. DukeLaw Follow Befriend 3 threads 73 comments

    20   3:56pm Thu 21 Jun 2012   Share   Quote   Permalink   Like   Dislike   The flip side is buying a house for $348k and selling it for $725k in Virginia near DC. My house before that in Austin I bought for 197k, and the last time I visited the house across the street was on the market for $549k Your mileage may vary.....

21. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

    21   4:23pm Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Ive been renting 6 years since cashing in all my RE holdings. Ive replaced my old hobby of home depot with many new ones like hiking, biking and collecting complaint letters on the fridge from the poor slob below me. (I even disconnected both sub woofers which sux but he still complains about noise. im like wateva call the cops....cops dont come in LA county unless there is someone they can throw in slammer to charge taxpayers 50k a year for)

22. guruoracle Follow Befriend 25 comments

    22   6:17pm Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   We're up $150k in value after buying in March! We bought right and a fixer! Right price, right area! I am happy to own after renting for 8 years! I love my house and not having to worry about a landlord.. To each his own!

23. RentingForHalfTheCost Follow Befriend (8) 38 threads 2,036 comments Pleasanton, CA Premium

    23   6:47pm Thu 21 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Each day I get richer as a renter! Oh Yah!

24. Call it Crazy Follow Befriend 229 threads 2,790 comments

    24   8:06pm Thu 21 Jun 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   DukeLaw says The flip side is buying a house for $348k and selling it for $725k in Virginia near DC. My house before that in Austin I bought for 197k, and the last time I visited the house across the street was on the market for $549k ....and which part of the 1990's was this?????

25. CrazyMan Follow Befriend 449 comments Boulder Creek, CA

    25   9:00am Fri 22 Jun 2012   Share   Quote   Permalink   Like (2)   Dislike   guruoracle says We're up $150k in value after buying in March! ROFL sure you are. I also find it amusing that after you bought you flipped into a tool. guruoracle who has 12 comments said: Why should I struggle and live a sh*tty life just to "own" a home?? I've done it before - twice in Dallas. I remember the endless trips to Home Depot where the people knew me by name and said I should get a part-time job there. Why would I want to go back to this again after struggling for years to scrape up a down payment just to make some greedy ole boomer or a bank richer?? Both my husband and I were born at the wrong time and the wrong place (NE Ohio). Why should I live a crappy life just to "own" a home? Right now we pay $2500/mo. (same rent for 3 years) for a 2,000 sq. ft home in Danville on a 1/2 acre. My landlord is great and we can live on one income if needed (my husband was out of work 1 1/2 years - no extra debt after he finally got a job!). I can retire early in 13 years and get the hell out of this crazy state where everything is overpriced. We all can't hit the housing lottery!!"

26. DukeLaw Follow Befriend 3 threads 73 comments

    26   2:25pm Fri 22 Jun 2012   Share   Quote   Permalink   Like   Dislike   Call it Crazy says DukeLaw says The flip side is buying a house for $348k and selling it for $725k in Virginia near DC. My house before that in Austin I bought for 197k, and the last time I visited the house across the street was on the market for $549k ....and which part of the 1990's was this????? Sold the DC house in 05 and yes, I bought in 99. Rented for 6 years and just jumped back into the market.

27. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

    27   3:03pm Fri 22 Jun 2012   Share   Quote   Permalink   Like   Dislike   If this is the 'tha bottom' then the 6 years to bottom pattern from SoCal from last crash has repeated. Prices peaked in 1989/90 then bottom was 95/96. Peak Fraud was 06 now its 12. It really looks like were bottomed as long as rates stay low, foreclosures take 3 yr avg, everyone gets underwater Refi, loan mods by the millions keep people from default. (all of these are here to stay IMO....even if Mit Or O are in the chair it wont matter)

28. everything Follow Befriend (2) 3 threads 552 comments Madison, WI

    28   5:57pm Fri 22 Jun 2012   Share   Quote   Permalink   Like   Dislike   Heck, I just can't swing the 3-5k property tax bill that comes with your average 100k priced fixer upper junker in the state I live in, I can rent a shared living space for that kind of money.

29. Call it Crazy Follow Befriend 229 threads 2,790 comments

    29   6:46pm Fri 22 Jun 2012   Share   Quote   Permalink   Like   Dislike (2)   PockyClipsNow says It really looks like were bottomed as long as rates stay low, foreclosures take 3 yr avg, everyone gets underwater Refi, loan mods by the millions keep people from default. (all of these are here to stay IMO....even if Mit Or O are in the chair it wont matter) Boy, that's a hell of a wish list...... (you forgot to mention JOBS..., ya know, the thing you need to PAY for the house)

30. Gail Follow Befriend 3 comments

    30   5:56am Sat 23 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   PockyClipsNow says It really looks like were bottomed "Bottom" means prices no longer falling. I have news for you.... Housing prices are falling.

31. KILLERJANE Follow Befriend (3) 12 threads 600 comments

    31   8:17am Sat 23 Jun 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Cash is what you pay to rent. If cash dramatically fails you could always line a nice cardboard box with it during the cold months. The banks are hovering just above junk status.

32. New Renter Follow Befriend (3) 13 threads 2,227 comments San Jose, CA Premium

    32   10:50am Sat 23 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   CaptainShuddup says [Knock Knock] "Who is it?" "it's the landlord, I've decided to not renew your lease and you can stay month to month. I'm raising your rent $125 this month but who knows how much I'll raise in 4 moths from now." [ring ring]"Hello" "Yes I'm calling about your appartment" "Yes it's $1800 a month for a 2 br, I require first last and a month for deposit, and to be honest when you move I've never ever once given back the deposit. I don't accept pets, you can only have one car, you must keep the noise down to a whisper, no company after 10 o'clock at night, you have to cut the grass, and are responsible for the water bill, and you'll share an electric meter with the efficiency in the back I rent out to transients, that come and go and host an endless parade of crack whores and pill heads." Yeah that's quite a life you renters have going there. Puhleeze I rented all of my adult life, until a year and a half ago, don't go selling that lie what a paradise Wow South Florida sounds like quite a paradise. Transients, crack whores and pill heads? Even better reasons to buy!

33. KILLERJANE Follow Befriend (3) 12 threads 600 comments

    33   10:56am Sat 23 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   Umm and los Angeles is any different but with uglier beaches.

34. bubblesitter Follow Befriend (5) 10 threads 2,329 comments

    34   1:03pm Sun 24 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Not really proud to rent,but really proud to rent when the same property needs twice the money to own!

35. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    35   1:47pm Sun 24 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Stabilityfirst says I live in a southern state and just took advantage of the real estate market by buying a 3700 sqft home for $17,000 in a safe and very convenient neighborhood(it does need a little tlc) It probably needs more than a "little" TLC if you paid only $17k for it. ;-) Housing is dirt-cheap where I live, but if you're paying less than $50k here it's definitely a "fixer-upper."

36. Call it Crazy Follow Befriend 229 threads 2,790 comments

    36   2:16pm Sun 24 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   wthrfrk80 says It probably needs more than a "little" TLC if you paid only $17k for it. ;-) Housing is dirt-cheap where I live, but if you're paying less than $50k here it's definitely a "fixer-upper." That's what I was thinking too... I wonder what size trailer it really is...

37. tatupu70 Follow Befriend (3) 15 threads 5,653 comments

    37   5:06pm Sun 24 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   E-man says You see the trend of the dislike? You, Roberto and I all got 4 to 6 dislikes. We are the bulls in their eyes although we want to see stable to falling house prices. I'm starting to think pat.net has jumped the shark. The folks that are left make Roberto and you look like housing bulls...

38. Call it Crazy Follow Befriend 229 threads 2,790 comments

    38   6:43pm Sun 24 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (2)   tatupu70 says E-man says You see the trend of the dislike? You, Roberto and I all got 4 to 6 dislikes. We are the bulls in their eyes although we want to see stable to falling house prices. I'm starting to think pat.net has jumped the shark. The folks that are left make Roberto and you look like housing bulls... I thought you were also part of the "Bull Squad" here??? Don't worry, everyone hopefully can learn to put down the kool-aid and back away from the table... All in time...

39. tatupu70 Follow Befriend (3) 15 threads 5,653 comments

    39   8:01pm Sun 24 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   Call it Crazy says I thought you were also part of the "Bull Squad" here??? I know you do. Because anyone who doesn't think housing will go down 90% from peak is a permabull, right?

40. Call it Crazy Follow Befriend 229 threads 2,790 comments

    40   8:26pm Sun 24 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   tatupu70 says Call it Crazy says I thought you were also part of the "Bull Squad" here??? I know you do. Because anyone who doesn't think housing will go down 90% from peak is a permabull, right? Absolutely not... I doubt housing will drop 90% from peak but I definitely believe it's not done dropping. Actually, I hope it would level out, this would prevent a lot of pain for a bunch of people. But looking at the facts, the economy, the job situation, the trends, the population, our government, etc. and it all points to more of the same... the housing market will continue to drop, how far and for how long, I have no idea.... Anyone who is a permabull really needs to get out more and take off the rose colored glasses...

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