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bubblesitter
2011 Mar 5, 10:18am
interest payments+property taxes(minus deductions) and home insurance would also be sunk costs.
The same argument could be said about renting and renters insurance, neither one of those built any equity for you either.
Renters insurance is like $15 a month!! My equity from renting is in my savings account and 401k!!
You forgot to add the negative equity to your savings(and its returns), that you saved by not going under water.
We bought in March 2010 for $152K. First home. Considering the $8K tax refund it was $144K. Zillow now estimates $140K. No comparable sales at the moment.
AdamCarollaFan
2012 Feb 17, 4:46am
i've only been renting all of these years, and i calculated that my monthly rent is
TPB
2012 Feb 17, 6:07am
I've lost $97,080 renting over the past 5 years.
Bingo we have a winner.
I lost $112800 renting for ten years. Perhaps factoring in that savings at the end of ten years in to owning my house, will be an eye opener.
In another 9 years, I'll add 112800 to the value of my house, and see where I stand.
I have owned and now rent. It's more important for me to be mobile than to compare the cost of owning vs. renting. If I need to move for a new job out of state, very easy to do. My property owner just replaced the water heater for $1,800 and will need a new roof in a few years. Glad I don't have to set aside savings for that and other unexpected repairs.
everything
2012 Feb 17, 8:33am
I owned for about 8 years, cost me about 30k + 25k or so in property taxes, not including loan interest, needed to put up another 10k for maintenance, so I sold it. Figured I could live somewhere else cheaper.
toothfairy
2012 Feb 17, 8:37am
How much have I lost
in real estate? nothing because I only sell when I dont lose money.
in the stock market? well, lets not talk about that...
FuckTheMainstreamMedia
2012 Feb 17, 9:03am
I've lost $97,080 renting over the past 5 years.
Bingo we have a winner.
I lost $112800 renting for ten years. Perhaps factoring in that savings at the end of ten years in to owning my house, will be an eye opener.
In another 9 years, I'll add 112800 to the value of my house, and see where I stand.
William E Baughb
How is it that you are adding value to your home? I don't understand.
Dan8267
2012 Feb 17, 9:31am
Yep, it's sad how an entire generation has lost so much renting from the Baby Boomers because of the housing bubble. Still, I'm glad I didn't buy during the bubble and lose more.
There should be a "Protect Renters from Ass Fucking Act" or PRAFA to pay back responsible renters $20k/yr for each year they rented in the past 14 years to make up for the government's prolonging of the bubble and the correction. And it should continue until the bubble finally completely deflates. Funny how that kind of stimulus would never get passed.
I will lose US$300 staying in a hotel during the weekend; or should I say I will spend US$300 staying in a hotel during the weekend?
I've lost $97,080 renting over the past 5 years.
FuckTheMainstreamMedia
2012 Feb 17, 9:50am
I will lose US$300 staying in a hotel during the weekend; or should I say I will spend US$300 staying in a hotel during the weekend?
I've lost $97,080 renting over the past 5 years.
Realtards use inflammatory language. It's the nature of a salesman to prey on emotions. Now you know that you can disregard any posters using Pravda esque
statements like this since they are basically outing themselves as real estate agents
toothfairy
2012 Feb 18, 12:24am
By the way paying to live somewhere is not losing money
Just like buying lunch is not losing money its just a question of how much it costs you.
Stock market is different there you can actually lose money and get nothing in return
FuckTheMainstreamMedia
2012 Feb 18, 2:14am
By the way paying to live somewhere is not losing money
Just like buying lunch is not losing money its just a question of how much it costs you.
Stock market is different there you can actually lose money and get nothing in return
I'm very surpised to read this post from you since I've never once seen you say its better to rent than to buy, even when commenting on areas where in an apples to apples rent:buy comparisons renting was 25-50% cheaper than buying.
toothfairy
2012 Feb 18, 4:23am
By the way paying to live somewhere is not losing money
Just like buying lunch is not losing money its just a question of how much it costs you.
Stock market is different there you can actually lose money and get nothing in return
I'm very surpised to read this post from you since I've never once seen you say its better to rent than to buy, even when commenting on areas where in an apples to apples rent:buy comparisons renting was 25-50% cheaper than buying.
Well that's because I dont think it's better to rent.
It may be cheaper to rent but that's only in the short run. I dont think renting is the same as "losing" money though it's more like wasting money that could go towards buying.
If it were an apple to apple comparison cheaper to rent then I'd go buy somewhere else. You wont convince me that renting in Menlo Park for $4k per month is a good good deal because it's cheaper than buying the same house. No I would just go buy somewhere else.
I dont see why that's so hard to understand.
AdamCarollaFan
2012 Feb 21, 5:14am
i've "lost" a little over 50K in the past ten years of renting, but i still feel i'm ahead. right now, my monthly rent is
kronicade
2012 Feb 21, 8:37am
I've lost 67,200 because I owned instead of renting. My mistake was buying at the absolute top of the bubble and paying ridiculous HOA fees for a shitty condo back in 2004. The rent vs own had a difference of about $1,400 a month x 4 years.
(I learned the hard way, saved for 4 years and now have a house that I can rent for what my mortgage is.)
JodyChunder
2012 Feb 21, 1:36pm
I've lost $97,080 renting over the past 5 years.
how much did you lose dining out instead of growing your own garden and herding your own goats?
JodyChunder
2012 Feb 21, 1:38pm
Never lost a dime. Made my $$$ as a landlord and franchise operator .
RentingForHalfTheCost
2012 Feb 21, 1:59pm
I've lost $97,080 renting over the past 5 years.
Because I rented over the last 3 years in the BA, I estimate I grew my wealth by at least 2X. My $2000/mth savings for 3 years has benefited from the market comeback story of my lifetime and the housing (which I plan to buy in the next 1-2 years) has dropped considerably. At least a 100% gain in stocks over the last 3 years, and a 30-35% better leverage on a SFH. All things going in the correct direction if you ask me.
JodyChunder
2012 Feb 21, 2:49pm
Because I rented over the last 3 years in the BA, I estimate I grew my wealth by at least 2X.
That is dam good. You might should look into a Tutti Fruiti franchise. I own 2 now but want 12.
http://www.tuttifruttifranchise.com/
Whether you are craving out for a regular breakfast or simply with a delightful montage of fruit, you would surely be amazed every time by the originality of its menu.
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+$50K SF condo (2005)
-$65K or more Cola low income SFR (tax sold 2010)
~0 Cary townhouse (2007)
~0 incuding upgrades costs Cary townhouse (2008)
-6K* Charlotte house (according to tax assessment)
+-* unknown Charlotte land
* Unrealized loss or gain.
I worked with another person who was down $100K* on each of his Tampa condos. Looking back at mine I was right to sell as the SF will not go up near term as much as other investments could, the Cola low income neighborhood will continue to fall (think Detroit), and Cary will appreciate slowly. I actually suspect Charlotte will appreciate more rapidly than the rest of the USA.