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Goodnight renters. You will be a renter forever

By Bm05211983 following x   2014 Feb 20, 9:38am 12,773 views   56 comments   watch   sfw   quote     share    


Prices are skyrocketing again this year. Inventory is incredibly low just like last year. If you rent here, you are probably better off moving because prices are going to the moon this year. Good night renter.

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1   APOCALYPSEFUCKisShostikovitch   ignore (34)   2014 Feb 20, 9:50am   ↑ like (5)   ↓ dislike (0)   quote   flag        

That's right. Buy now or be HOMELESS FOREVER. All you fucking assholes will be raped by the landlord - or skull fucked by a bank. CHOOSE! ASSHOLES!

But, golly, Mr. B, wasn't this a hit on American Top 40 in 2006?

2   epitaph   ignore (0)   2014 Feb 20, 10:27am   ↑ like (2)   ↓ dislike (1)   quote   flag        

You have to be behind on your mortgage to be this deluded.

3   JH   ignore (0)   2014 Feb 20, 10:52am   ↑ like (2)   ↓ dislike (1)   quote   flag        

APOCALYPSEFUCKisShostikovitch says

That's right. Buy now or be HOMELESS FOREVER. All you fucking assholes will be raped by the landlord - or skull fucked by a bank. CHOOSE! ASSHOLES!

But, golly, Mr. B, wasn't this a hit on American Top 40 in 2006?

...just wanted to repeat that...

4   Bm05211983   ignore (0)   2014 Feb 20, 11:29am   ↑ like (0)   ↓ dislike (4)   quote   flag        

You must be a renter Jh and epitaph

5   JH   ignore (0)   2014 Feb 20, 11:36am   ↑ like (2)   ↓ dislike (0)   quote   flag        

Do you not see the absurdity of buying now as in 2005? You can make fun of me for not buying in 2011 but don't delude yourself into believing the age old mantra that this time is different. Buyers late to a bubble lose...happens in all markets. You think I should buy loads of stock now? And commodities?

6   Bm05211983   ignore (0)   2014 Feb 20, 11:58am   ↑ like (0)   ↓ dislike (3)   quote   flag        

There is one thing I think you should buy and that is a shotgun. You obviously have bad luck and miss everything so you should end it all now. Or you can move out of our country.

7   JH   ignore (0)   2014 Feb 20, 1:09pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Miss everything = didn't buy in 2012.

Haha you are a realtor? Sorry you are about to see a drop in salary

8   Bm05211983   ignore (0)   2014 Feb 20, 1:31pm   ↑ like (0)   ↓ dislike (3)   quote   flag        

Miss everything= didn't buy in 09, 10, 11, 12. U missed four boats. Good job

9   evilmonkeyboy   ignore (0)   2014 Feb 20, 1:48pm   ↑ like (2)   ↓ dislike (1)   quote   flag        

Bm05211983 says

You must be a renter Jh and epitaph

You must be a troll

10   upisdown   ignore (0)   2014 Feb 20, 1:53pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Bm05211983 says

Miss everything= didn't buy in 09, 10, 11, 12. U missed four boats

Did any of those boats have a cuddy?

11   HydroCabron   ignore (1)   2014 Feb 20, 1:59pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Supply and demand curves do not always intersect: they become parallel when sad losers can no longer afford to pay the prices demanded by winners.

Soon real estate will be merely traded among the intelligent, because nobody will be able to pay a winner the true worth of his noble home.

12   JH   ignore (0)   2014 Feb 20, 2:13pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

El HydroCabron says

Supply and demand curves do not always intersect: they become parallel when sad losers can no longer afford to pay the prices demanded by winners.

Soon real estate will be merely traded among the intelligent, because nobody will be able to pay a winner the true worth of his noble home.

Govt props up stock market, cheap gainers sell and buy real estate until that fails...then on to the next quick fix. Hail to the winners.

13   DASKAA   ignore (3)   2014 Feb 20, 3:08pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Who's gonna by your shack from you if no renter can afford it anymore?

14   Bm05211983   ignore (0)   2014 Feb 20, 3:10pm   ↑ like (0)   ↓ dislike (4)   quote   flag        

My shacks aren't for sale And never will be kiddo. People will alwAys need a place to live unless they live under a bridge like you

15   prodigy   ignore (0)   2014 Feb 20, 8:03pm   ↑ like (4)   ↓ dislike (0)   quote   flag        

This is good.
Admitting your mistake is the first step back.

Bm05211983 says

My shacks aren't for sale

16   Tenpoundbass   ignore (11)   2014 Feb 20, 11:00pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

Bm05211983 I hope you don't live in California.

These people are crazy, you don't want to be rattling their cage, teasing them about the price of RE and how they'll be renting forever and you'll just raise the rent on them... blah blah blah.

They'll pass damn laws to set rent control, or better yet, use eminent domain to commandeer your property to give to the poor.

17   Bm05211983   ignore (0)   2014 Feb 20, 11:01pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Your rent will be double donjumpy while ours never changes. Good luck

18   JH   ignore (0)   2014 Feb 21, 1:10am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bm05211983 says

Miss everything= didn't buy in 09, 10, 11, 12. U missed four boats. Good job

If I want a good investment, I do not buy when interest rates are low. I buy when they are high like my parents generation. You will not see increases in value over the next 30 years as we have over the past 30 years. Those increases were due to 2 things: 1) inflation, 2) decreases in interest rates. The monthly payments in 2012 were identical. The problem is I cannot refi like my parents did a bazillion times to lower their rates. By 2040 homes will be worth what inflation allows minus all the saps with large student loans. Too bad to get there you will repair repair repair.

For now I will enjoy paying lower rent than the market value of owning my house...while watching the landlords but in their own sweat equity. My landlords bought in 1983. Kudos to them my house is a cash cow. If you bought then, congrats. If you bought recently, good luck.

CaptainShuddup says

Bm05211983 I hope you don't live in California.

Where are you from?

19   Bm05211983   ignore (0)   2014 Feb 21, 1:22am   ↑ like (0)   ↓ dislike (0)   quote   flag        

I live in Silicon Valley and my mortgage payment is 1300(locked in for 30 years) a month for a 3 bedroom house in great neighborhood with good schools. It would cost 2700 to rent this house. Hey donjumpy alot, where is all the inventory coming from???

20   Bm05211983   ignore (0)   2014 Feb 21, 1:40am   ↑ like (0)   ↓ dislike (1)   quote   flag        

I hope it crashes and BURNS, no joke. But it probably won't unfortunately

21   Bm05211983   ignore (0)   2014 Feb 21, 1:55am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Maybe in other areas of the country but banks have very few in Silicon Valley. I hope you are right though!

22   JH   ignore (0)   2014 Feb 21, 2:13am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bm05211983 says

I live in Silicon Valley

where values only go up. econ 101 baby.

23   Tenpoundbass   ignore (11)   2014 Feb 21, 2:18am   ↑ like (0)   ↓ dislike (2)   quote   flag        

JH says

Where are you from?

Where the mortgage is still cheaper than rent. Even after after giving Rick Scott an extra $330 a month for property insurance.

24   Bm05211983   ignore (0)   2014 Feb 21, 2:26am   ↑ like (0)   ↓ dislike (0)   quote   flag        

I hope they crash and burn

25   JH   ignore (0)   2014 Feb 21, 2:30am   ↑ like (0)   ↓ dislike (0)   quote   flag        

CaptainShuddup says

JH says

Where are you from?

Where the mortgage is still cheaper than rent. Even after after giving Rick Scott an extra $330 a month for property insurance.

Rick Scott's RE prices are awesome. Sure you can pay for your ocean views, but if you go all of 1/2 mile inland prices are normal. And a few miles inland, it's cheapo cheapo.

26   Tenpoundbass   ignore (11)   2014 Feb 21, 2:32am   ↑ like (0)   ↓ dislike (3)   quote   flag        

Who in the fuck would want to live on a Florida beach?

27   RentingForHalfTheCost   ignore (5)   2014 Feb 21, 2:36am   ↑ like (0)   ↓ dislike (2)   quote   flag        

Bm05211983 says

Your rent will be double donjumpy while ours never changes. Good luck

No, nothing about your place changes. Same mortgage, same taxes, same maintenance, same insurrance. Same bills over and over draining your income so you are locked in perpetual debt until you get close to dying. Hey don't forget that everything about your house gets older each and every day. Good for you. I wish I had gotten that memo.

28   Tenpoundbass   ignore (11)   2014 Feb 21, 2:43am   ↑ like (0)   ↓ dislike (2)   quote   flag        

RentingForHalfTheCost says

No, nothing about your places changes. Same mortgage, same taxes, same maintenance, same insurrance, same bills over and over draining your income so you are locked in perpetual debt until you get close to dying. Good for you. I wish I had gotten that memo.

I don't get this argument, what is your ultimate end game?

Someone gives a place to live out the rest of your life, rent and mortgage free? While we poor homeowners who were duped into buying a house, languishes with our mortgage payment. Which for me, is $500 to $700 less for my house, than if I were renting something comparable.

You've got to cover your monthly roof nut regardless where you live, or the terms of those conditions. Whether it's renting or paying a mortgage. You will continue to cut someone a check until the day you die. Hopefully for homeowners, who will eventually pay off their house. Their monthly property tax should still be a hell of a lot cheaper than renting.

But I probably shouldn't tell you that, you'll just use that as proof, income inequality, and sign a petition urging congress to raise my property taxes, because we've got it so good.

Grow up already!

29   DASKAA   ignore (3)   2014 Feb 21, 2:43am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bm05211983 says

My shacks aren't for sale And never will be kiddo.

So you own an asset which has no resale value per your own theory and brag about it? LOL

30   Bm05211983   ignore (0)   2014 Feb 21, 2:44am   ↑ like (0)   ↓ dislike (2)   quote   flag        

You work a 9-5 don't you renting for half the cost. I'll rent my house to you for $1000 profit and move to hawaii while you work 9-5 and buy me a house. Renting....

31   Tenpoundbass   ignore (11)   2014 Feb 21, 2:46am   ↑ like (2)   ↓ dislike (2)   quote   flag        

Oh Stop IT, no one is moving to Hawaii from renting out a $1000 blight on a cul-de-sac by the over pass, next door to loudest neighbors on earth.

32   FortWayne   ignore (2)   2014 Feb 21, 2:56am   ↑ like (0)   ↓ dislike (2)   quote   flag        

Well, that's silly. What, did all the builders in America decided to call it quits and went on collective welfare?

Plenty of houses out there.

33   Bm05211983   ignore (0)   2014 Feb 21, 3:10am   ↑ like (0)   ↓ dislike (4)   quote   flag        

When you have 15 of them you Can move anywhere

34   New Renter   ignore (11)   2014 Feb 21, 3:32am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bm05211983 says

When you have 15 of them you Can move anywhere

You are starting to sound like renting for half the cost.

35   JH   ignore (0)   2014 Feb 21, 3:34am   ↑ like (2)   ↓ dislike (0)   quote   flag        

New Renter says

Bm05211983 says

When you have 15 of them you Can move anywhere

You are starting to sound like renting for half the cost.

So it takes owning 15 homes to have the flexibility of a renter...

36   Analyzer   ignore (0)   2014 Feb 21, 3:37am   ↑ like (0)   ↓ dislike (0)   quote   flag        

One clear advantage that the renters have is not having to deal with the mental anguish of: when is the right time to buy or sell, will I be priced out of the market forever, competing against multiple bids, generational low interest rates, and all the other nonsense surrounding the real estate market.

Personally I would choose the less stress route.

37   Analyzer   ignore (0)   2014 Feb 21, 3:46am   ↑ like (0)   ↓ dislike (0)   quote   flag        

jojo says

@Analyzer


If someone is overly concerned about timing the market or being priced out 'forever' then they probably should not be buying. But if it fits with a person's long term plans, it can make good financial sense. It can only be determined on a case by case basis.

Agreed, however many of the less informed are driven by these market myths that are often perpetuated by realtors and lenders.

38   CDon   ignore (0)   2014 Feb 21, 3:50am   ↑ like (2)   ↓ dislike (0)   quote   flag        

Analyzer says

One clear advantage that the renters have is not having to deal with the mental anguish of: when is the right time to buy or sell, will I be priced out of the market forever, competing against multiple bids, generational low interest rates, and all the other nonsense surrounding the real estate market.

Personally I would choose the less stress route.

There is a certain irony in your comment in that you basically just described the "mental anguish" of vast majority of renters who spend their time here on Pat.net

Don't get me wrong, there are some people who are truly happy with renting as a lifestyle choice, and I think that is great (I wish more people did that). However, not a single one of those people is here. Those people who truly do not care about owning are out living their lives without a care about what home prices are doing.

39   Analyzer   ignore (0)   2014 Feb 21, 3:54am   ↑ like (0)   ↓ dislike (0)   quote   flag        

jojo says

People need to filter out the noise and understand the difference between a salesperson vs an advisor.

Easier said than done.....................

40   CovfefeButDeadly   ignore (4)   2014 Feb 21, 3:58am   ↑ like (1)   ↓ dislike (1)   quote   flag        

It's a stupid statement on face value as many of us live/work in very pricey areas precisely due to work considerations, yet could afford to buy in other areas, including less expensive parts of coastal California at retirement for 1-2x income. I can't speak for everyone here, but I already can do so and I'm only in my early 40's. It's the $800k plus homes, which were in the $200k'ish range only 15 years ago, that eludes me.

And yes, id rather pay $1700/mo in rent than 500k plus HOA for the exact same size condo 30 yards away from me. Btw, if you try to number crunch, forget about it. No on with $100k down is buying an 1120 sq ft condo in an apartment lined neighborhood. I'm positive it will be empty units purchased all cash by people who don't live in the US.

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