Confessions of a Frustrated Renter
By billdeegan Follow Wed, 22 Aug 2012, 10:27am 2,176 views 21 comments
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Campbell, CA
rm -rf ~/public_html
That site design is terrible =/
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whoever they are, they don't exactly sound 'frustrated'. rather, 'gleeful'.
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I think the Renter Nation website rocks. It looks great and is completely different from the typical boring look of most websites. We renters are often treated like second class citizens, and I am happy that someone is talking us up in the world! Thanks
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I wonder when and how America's renters will get the credit for making the smart choice to lease as opposed to buy? US corps & gov continue to neglect renters~ mad as hell too~ I agree w/ cheesehead that the Renter Nation site is cool w/ a Dick Tracy vibe
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Debt should be the only debate. If you are debt free or close, you are in the drivers seat. You make the choices. You make your plan. If you are debt driven, you are a subject of the king and kept by him accordingly. You will be lead around by your nose your entire life to somebody elses whimns and desires. If you are not a "kept" citizen, you will rent or buy whichever is best for you.
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Packersfan says
Since a number of very rich (and I mean honest real money rent and or are renting some form of property in this market.) Don't ever buy into this second-class citizen bullshite it is IMHO part of the manipulation to get you into debt slavery.
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Monterey, CA
Debt slavery? What a ridiculously overblown phrase.
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Bigsby says
If you honestly think this to be true? You think it's fine for people to go into 100K 500K 700K or 1MILLION in debt? For anything? I am not just talking property, I mean ANYTHING. I have no mortgage debt. I have no car debt. I have a student loan from my private university with only 15K left. All accounts paid before due and I feel FREE AS A FUCKING BIRD. I don't know what state of mind I'd be in if I were 700K in debt for anything let alone a dump depreciating in value. I like my life and plan to keep it as is.
If one is in heavy major debt say over 700K that likely will NEVER be paid back or likely defaulted in depreciation or best case scenario is really 2.5M debt after interest but if defaulting ruining one's credit and ability to get money if needed. What is that if not being a slave to banks and interest? That isn't being a slave to you?
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Corning, NY
Premium
Reader says
Heretic!
He's a witch! Burn him! Burn him!
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freak80 says
LOL
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As this last resort measure called Quantitative easing (QE) is nothing but an unconventional monetary policy, only used by central banks to stimulate the national economy when normal conventional monetary policy has become ineffective or in other words FAILED frankly this scares the hell out of me because I know economically how dangerous this shite can and likely will be. It goes back to the saying if you cannot pay your bills one month how are you going to do it in two or three? They double, triple or worse. These are dangerous times IMHO.
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Monterey, CA
Reader says
Of course I do. And bully for you. Do you seriously think that the only thing people should be allowed to buy are those things that they can plunk down 100% of their own cash for? I'd love to see the state of the US economy with that system. Mind, I'm sure that the 1% would love it, particularly after they massively ratchet up the cost of rentals to all those people who no longer have any chance of ever owning a home, or even a bloody car for that matter.
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Kingman, AZ
Yo Bigsby-
What did you do when you were 16? Did you go out and get a 20k or 30k car loan? This is what I did- I bought a cheap junker for about $800 so I could get a job, go to work, and save my money to get something more reliable or at least fix the stuff breaking down on the junker. Yes, we should live within our means. Does this mean all debt is bad debt? No, of course not but we are talking about a huge amount of middle ground between ZERO debt and MORE DAMN MONEY THAN YOU WILL MAKE IN TWO LIFETIMES of debt.
and I am with the other "reader"- I have a 10 year old pickup that I paid cash for, cash for my motorcycle, 3 credit cards with no balances ever carried forward. I have about $20k liquid, I have a $50k mortgage balance, and it feels pretty darn good to have 100% flexibility with everything. I look just like any other average Joe but I am 37 and could stop working tomorrow if I wanted to. So stick that in your pipe and smoke it.
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If we can keep the money and not pay debt and interest, we become wealthy not the 1%. And... in the latest round of QE-3 is specifically going to the 1%.
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Monterey, CA
civilsid says
What's your point? Where exactly did I say you should borrow more money than you can make in two lifetimes let alone pay back? Is it people's hobby to make up shit on this website? If you want to borrow, then I'd say most people's intention is to borrow what they can afford to pay back over the life of the loan - and last I checked, those loans don't tend to span well over 2 lifetimes.
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Bigsby- I don't think people intend to borrow more money than than they can actually pay back. What people appear to do is borrow as much money as they possibly can, which leads to almost every company pricing their items by the month, not a single payment. People look to a good credit score more then accumulating (save-invest) personal wealth. If you travel on this road too long, you will become exhausted, run down, and whipped. You will have zero saving/investments only bills. Hence the debt slave comment earlier. Bankruptcies are increasing. Would they not be a sign of borrowing beyond one's ability to re-pay?
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Monterey, CA
Tepid says
Circumstances change for people. And obviously a good number of people borrowed recklessly during the bubble, but that is not what is being discussed here.
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Monterey, CA
civilsid says
Good for you, though I'm not sure how you can retire at 37 with 50k outstanding on your mortgage and 20k in cash. Presumably life is 'different' in AZ.
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Dublin, CA
Here in Bay Area, the market rate rent is a debt in disquise. And they younger you are, the more it feels that way. I think that a lifelong renter who will retire at 65 ain't gonna have it easy around here. Trying to compete for apartments against the to be people in the tech field while living on social security/personal savings will not feel too good. The only way out is to buy under your means, prepay the mortgage and be done with mortgage payments/rent before one is 50, preferrably 45.
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Los Angeles, CA
Property taxes in Cali = 1.25 (Average)
Average 'decent' house in Los Angeles (while working) $600K
So when you retire you still have to pay $625 (if mortgage paid off) per month excluding water, trash, insurance, gardner, upkeep and repair. (items not paid by renters)
If you bought your current home after 35, chances are you still have a mortgage, which they sold to you when you were pulling down an income. Most 65 year olds bought past 35 (average time a homeowner lives in house = 5 to 7 years)
Now you've retired, your mortgage hasn't and your bills are the same. Either the Dems or Reps are gonna slice up one or many of your benefits.
Face it, you're fucked.
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Kingman, AZ
from bigsby:
Good for you, though I'm not sure how you can retire at 37 with 50k outstanding on your mortgage and 20k in cash. Presumably life is 'different' in AZ.
my response:
Well, there is of course a little more to it than that. I have about 30 properties, most of them inside of a self directed Roth IRA. I have monthly amounts coming in on those assets. I also am in the process of foreclosing on tax liens, also increasing my net wealth. I have some property owned directly by me (not a retirement plan) which also brings me monthly dividends. So, just because I could give up my eaned income does not mean that I would forego all income. And yes, it probably is quite a bit different here in Arizona!