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freak80
@
2012 Jul 5, 9:32pm
People, you have been philosophically and financially fleeced.
In California, New York City, DC, and Boston that is quite true.
In most other places, if you have a secure job and plan to stay put for 10 years, you *might* be better off buying a small house instead of renting.
See Patrick's "House Value Calculator" above.
Can you rent weed?
Didn't think so
Put that rented bunch of nothing,,,in your pipe and pretend to smoke it. Let me know how you make out
What if more people like me stop buying losing propositions like real estate; we rent, we quit driving around in money sucking cars (we take the bus) we completely opt out of the ownership system?~(I have)~where does that land all of your speculative economic theories?
Rent prices increase dramatically. Companies fold and more jobs are lost. Basically the whole economy would fall apart.
You quaintly think there aren't more people like me? People who realize that owning stuff is indentured servitude?
I guess I could rent forever, eat ramen, cut my cable and internet, and go straight home after work...just exist, as you put it. They key is to find a healthy balance; you can still spend money, even buy things (gasp), and still not be an indentured servant. I work to live, not live to work. For some people, buying a home is the right decision for them, you just have to be smart about it. I am still waiting to own until it is right for me.
Slightly off topic, but the vast majority of the elderly "just exists" because they saved up no money. That's a sad way to live the next 20-30 years, dirt poor, living in pain, watching QVC. If I were president I'd bring back Kevorkian methods so that the elderly could spend freely until they run out, then do themselves in instead of being a vegetable in a home waiting for death.
freak80
@
2012 Jul 5, 9:55pm
If I were president I'd bring back Kevorkian methods so that the elderly could spend freely until they run out, then do themselves in instead of being a vegetable in a home waiting for death.
You'd have Death Panels(tm)?
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What if people just live somewhere but don't buy it?
In the Bay Area, in retirement Mexico, where ever.
That's me. A boomer on the threshold of retirement who owns nothing now and intends to buy nothing in the future. Not car, not house, none of it. Anywhere.
What comes of your speculation then?
Why do I need to own stuff when I can rent it for a fraction of the price? In the US, in Ecuador, in China? Why would I sink my hard earned money into a speculative venture when all I really want to do is live? I can live well without *owning* stuff.
What if more people like me stop buying losing propositions like real estate; we rent, we quit driving around in money sucking cars (we take the bus) we completely opt out of the ownership system?~(I have)~where does that land all of your speculative economic theories?
What happens then?
You quaintly think there aren't more people like me? People who realize that owning stuff is indentured servitude?
I had a meeting today with a financial planner and laid out my thoughts. Move somewhere outside the US, live off the stipends of minimal SSI and small other money, and just....exist. He was flabbergasted. Apparently no other client had ever come into his office without big plans for starting a business overseas and buying a place and making it big, big, bigger. My plan was small, small, smaller. We are 60 something Americans getting ready to drop off the radar.
Anybody with an ounce of good sense can see that buying property ANYWHERE is a risk that need not be taken. You can rent a place to live anywhere in the world and be money ahead. Roof over your head, done.
You real estate fools yammering amongst yourselves have each other convinced that money invested is money earned in the right amount in the right place in the right times and: voila! You're rich!
Meanwhile I'm sneaking out the back door, keeping my mouth shut and my money to myself and out of the taxman's hands....because I rent everything! And when I'm done with it I give it back to the owner who is paying the freight.
I do not understand the American obsession with *ownership*. I'm into the much cheaper and more useful *usership*.
People, you have been philosophically and financially fleeced.
#housing