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(Reason Magazine)   New survey suggests owning a house in U.S. is dumb   (reason.com) divider line 242
    More: Obvious  
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19445 clicks; posted to Main » on 30 May 2011 at 12:00 PM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-05-30 10:13:46 AM  
Your dum!
 
2011-05-30 10:16:24 AM  
my condo is awesome. mortgage is 1/2 the price of what my rent would be.
 
2011-05-30 10:18:22 AM  
I hate sharing walls with anyone. I seriously do not want to farking hear you. Apartments/Condo/Townhouse are all out.
 
2011-05-30 10:21:00 AM  
I don't care for the upkeep of a house, never did.

I would like to have a backyard of some sort, though. I'd be out there every day grilling something or other.
 
2011-05-30 10:22:47 AM  
Yeah...because when I research buying a home, I check what is 'hip' that week and go that way. this week it's dumb, next week maybe it'll be wise again.

shoosh already.

buy a home or don't. quit treating home purchases like stock investments. If the house is too expensive, it's too expensive. buy what you can afford, yadda yadda.
 
2011-05-30 10:25:15 AM  
I think it has it's benefits, and it's pitfalls. Most people over extend themselves when they buy, then don't have money for a little fun once in a while, or for upkeep, repairs etc. You just have to remember that while everyone trying to sell you a house will tell you what a great investment it is......it's not , unless you are fixing them up and selling them. It's an asset, nothing more. And it's free rent once you've paid it off.......early if you were smart. (well, except for those pesky taxes and insurance.
 
2011-05-30 10:26:06 AM  
I wonder how many "rent is like throwing your money away" people are upside down on their mortgages.
 
2011-05-30 10:30:48 AM  
Honestly I am starting to think that it is dumb. Through the nineties and early 2000s houses were a pretty good investment, they weren't that expensive, and you could pay it off in a reasonable amount of time. Then things went through the roof, but that old mentality has not gone away yet, and it honestly seems like a lot of people have a disconnect with reality when it comes to what a house should cost and how one should pay for it. 30 or 35 year mortgages, no money down, paying astronomical prices for fixer-uppers, it's like all these people have had some real estate kool-aid that I haven't had.
 
2011-05-30 10:31:02 AM  

basemetal: And it's free rent once you've paid it off.......early if you were smart

have basemetal money.

Luckily I seem to be hitting the sweet spot where all the initial repairs and unexpected costs upfront are finally going away. I do not miss renting. At all.
 
2011-05-30 10:32:03 AM  
No mortgage, no rent, 3 acres. It's by no means a mansion, but it's all mine. I'm pretty sure owning it is beneficial to me, not detrimental.
 
2011-05-30 10:32:29 AM  
I posted and this thread instantly got green-lit. how should I use this newfound super power, farkers? all Newsflash threads, all the time?
 
2011-05-30 10:33:22 AM  
Yeah, because having a mortgage payment that's gonna be the same this year as it will in 5 (if you get the right kind) while ownership is dumb.

Not being at the behest of others is never "dumb."
 
2011-05-30 10:33:53 AM  

hockeyfarker: and it honestly seems like a lot of people have a disconnect with reality when it comes to what a house should cost and how one should pay for it.


Ain't that the truth. You should see how much people are asking for properties around here, and by here I mean the absolute middle of farking nowhere. One house finally did sell for like 40K, they were asking 120. I don't even know why it sold for 40. I saw a house in the area literally SPRAY PAINTED on it: "$6000 OBO"
 
2011-05-30 10:34:14 AM  

hockeyfarker: I posted and this thread instantly got green-lit. how should I use this newfound super power, farkers? all Newsflash threads, all the time?


foobies links
 
2011-05-30 10:35:22 AM  
I'm pretty dumb and I don't own a home. Well, I mean, technically I guess I do because I'm still on the mortgage of the house I gave the husband in our divorce...how dumb is that?
 
2011-05-30 10:35:53 AM  
Oooh..good, it went green.

This should be civil and not at all devolve into a thread in which people attempt to one-up each other until someone eventually lays claim to having a negative interest rate.
 
2011-05-30 10:36:26 AM  

mekkab: I hate sharing walls with anyone. I seriously do not want to farking hear you.


i98.photobucket.com
 
2011-05-30 10:36:32 AM  

hipcheckgrl: I'm pretty dumb and I don't own a home. Well, I mean, technically I guess I do because I'm still on the mortgage of the house I gave the husband in our divorce...how dumb is that?


Pretty dumb. I `won' my old house in divorce, but later decided to vacate. I let the ex have it, it was her or the bank. You think my name is on that loan anymore? Hell no. lrn2bankruptcy
 
2011-05-30 10:37:50 AM  

Dwight Schrute: Not being at the behest of others is never "dumb."


DAMN THE MAN, AMIRITE??!?
 
2011-05-30 10:39:17 AM  

hipcheckgrl: I'm still on the mortgage of the house I gave the husband in our divorce...how dumb is that?


i98.photobucket.com
 
2011-05-30 10:39:41 AM  
The article suggests that owning is a good idea, but Americans who were polled indicated that it's their opinion that owning is dumb.

Americans are dumb. So, there's that.
 
2011-05-30 10:40:44 AM  

nekom: Pretty dumb. I `won' my old house in divorce, but later decided to vacate. I let the ex have it, it was her or the bank. You think my name is on that loan anymore? Hell no. lrn2bankruptcy


It does sound dumb. We both lost our jobs in the middle of the legal crap and can't refinance. At this point, 2 years later, we still work together well, raising kids and stuff. It's been agreed that if he can't make the payments, I'll take it so that it doesn't get foreclosed on. We didn't overpay in the first place, so it's manageable. Getting along is easy for us when we're not married.
 
2011-05-30 10:43:08 AM  
I rented for years before finally deciding to buy a house. But I let this smooth-talking realtor convince me to buy a house without a roof. She said it would be "breezy" and "get me closer to nature" and be "environmentally friendly." I bought into her song and dance and purchased the house. Then, the first time it rained, I got wet as sh*t. Now I have the buyer's remorse.
 
2011-05-30 10:43:26 AM  

Kyro: basemetal: And it's free rent once you've paid it off.......early if you were smart have basemetal money.

Luckily I seem to be hitting the sweet spot where all the initial repairs and unexpected costs upfront are finally going away. I do not miss renting. At all.


We purposely did not buy a McMansion, there is only the two of us and four cats, (shup, two of them were inherited when my dad died). We kept it nice, affordable, with a decent yard that I could sculpt.Then we were able to still afford a life, and a little extra a month. Paid that f*cker off in about 12 years. Not everyone can do that, I understand, but just paying 50-100 a month shaves off sooo much time and interest. Now, I will divest myself from this green thread.
 
2011-05-30 10:43:46 AM  

mekkab: I hate sharing walls with anyone. I seriously do not want to farking hear you.


Stop looking at places like the Morningwood Apartments.

control-h.org

I more often hear people on the sidewalk below my window than I do my neighbors. If I do near neighbors, it's most often through the hood over the stove.

/Building is 105 years old
//The politicians are only prolonging the misery, and calling it "saving us from another Great Depression"
 
2011-05-30 10:44:13 AM  

hipcheckgrl: It does sound dumb. We both lost our jobs in the middle of the legal crap and can't refinance. At this point, 2 years later, we still work together well, raising kids and stuff. It's been agreed that if he can't make the payments, I'll take it so that it doesn't get foreclosed on. We didn't overpay in the first place, so it's manageable. Getting along is easy for us when we're not married.


No matter how long we are getting along (which is fairly well, given that she doesn't talk to me ever and I have custody of our child), there is no way in hell I would allow myself to be financially tied to her in any way, shape or form. All financial matters are business to me, not personal. That's the way I've always looked at it. After we divorced, I have no further interest in any business relationships with her, so I severed them. But to each their own.
 
2011-05-30 10:44:26 AM  
I was under the impression that 'merikuns were too fat and entitled for nomadic tent living. Is this not true?
 
2011-05-30 10:45:53 AM  

basemetal: Paid that f*cker off in about 12 years. Not everyone can do that, I understand, but just paying an extra 50-100 a month shaves off sooo much time and interest.

 
2011-05-30 10:46:09 AM  
Ah, I would rather own my home than rent. I pay $480 a month for my mortgage which is cheaper than renting and don't have to hear my neighbors arguing or farking at all hours of the night. Also, I love being able to change anything I want with the house at a moments notice.
 
2011-05-30 10:47:08 AM  
But, if you own your own house, you can drill holes in the walls and not get in trouble for it. At least, not immediately.
 
2011-05-30 10:48:14 AM  

middleoftheday: I wonder how many "rent is like throwing your money away" people are upside down on their mortgages.



I wonder how many have been told they could plant a garden only to have their downstairs neighbor get a dog that shiats all over it.

I wonder how many have had their rent raised because they complained about the lead paint in their apartment, only to have the landlord's brother-in-law drunkenly paint over it and get paint everywhere. Later the landlord keeps the security deposit because of 'stains on the carpet near the windows".

I wonder how many were told to find another place to live when a family member of the landlord needed a place to stay.
 
2011-05-30 10:51:50 AM  
www.rtoonline.com

In other news, it's always a safe bet to try and make money off Americans who think renting is cheaper than owning stuff.
 
2011-05-30 10:53:26 AM  
HAHA. Here we farking go.
 
2011-05-30 10:55:48 AM  
I love having color in my house. I was tired of boring white walls and neighbors. Tired of renting and being told I can't have a dog.

I love that whenever I have to move away, I'm going to recoup all of the money that I've been paid for housing every month, instead of just tossing it to the breeze.
 
2011-05-30 10:57:48 AM  
I rented until Mr. Landlord complained about us partying at all hours of the night. So we bought a house and stayed there until we were partied out, then we bought a nicer house.
 
2011-05-30 11:00:31 AM  
I'm proud that I own my house. After I gave the other one away in the divorce and rented for way too long, I'm happy that I own again and can maintain it myself and make the choices that I want to.
 
2011-05-30 11:00:41 AM  

Semper Gumby: I'm going to recoup all of the money that I've been paid for housing every month, instead of just tossing it to the breeze.


not sure if serious.jpg
 
2011-05-30 11:01:16 AM  

DarthBrooks: In other news, it's always a safe bet to try and make money off Americans who think renting is cheaper than owning stuff.


Exactly. When you rent, you pay for whatever it is you're getting, and the owner's lunch as well.

Yes, you pay property tax. It's included in your rent.

Yes, you pay upkeep costs. You pay ALL that stuff.

If landlording wasn't about making money, people wouldn't do it.
 
2011-05-30 11:10:17 AM  

hockeyfarker: Semper Gumby: I'm going to recoup all of the money that I've been paid for housing every month, instead of just tossing it to the breeze.

not sure if serious.jpg


I'm given a set amount by the government for housing. I'm going to be here for AT LEAST four years. If I rented, I'd be giving about the same amount of money to a landlord and I'd never see it again. This way, even if I take a hit on the house, I still won't be worse for wear.

The housing market in this area is completely ridiculous. My house is small but coveted.
 
2011-05-30 11:12:35 AM  

Semper Gumby: My house is small but coveted.


This.

I bought a sweet little house in a nice old neighborhood. With the improvements I make and the fact that I have no plans to move, I'm not concerned about losing money on resale.
 
2011-05-30 11:18:41 AM  

middleoftheday: I wonder how many "rent is like throwing your money away" people are upside down on their mortgages.


If the US didn't subsidize home-ownership through the tax code then people who couldn't really afford to buy wouldn't be as tempted.
 
2011-05-30 11:19:28 AM  

noYOUare: This.

I bought a sweet little house in a nice old neighborhood. With the improvements I make and the fact that I have no plans to move, I'm not concerned about losing money on resale


I was one of three offers on the house when I went for it. It's ~975sqft, two (technically three) bedrooms, one bath, great yards. Maybe in a year I'll tear up the carpet and put down some hardwood floors. New crown molding... and maybe, in time, new windows. But the light in the house is amazing, the kitchen's small but I've made moves to brighten it up. I don't mind the smaller kitchen, it's really easy to reach everything right when you need it. It's not oppresively small.

The third bedroom is small, but it has french doors that open out to the deck. I turned it into my formal dining room because I have a bigass table that didn't have any other place to go. It looks fantastic.
 
2011-05-30 11:25:08 AM  

Goimir: DarthBrooks: In other news, it's always a safe bet to try and make money off Americans who think renting is cheaper than owning stuff.

Exactly. When you rent, you pay for whatever it is you're getting, and the owner's lunch as well.

Yes, you pay property tax. It's included in your rent.

Yes, you pay upkeep costs. You pay ALL that stuff.

If landlording wasn't about making money, people wouldn't do it.


For a lot of Americans it's about breaking even.... renting out their underwater "investment" when they had to move and couldn't find anyone to take over their mortgage.
 
2011-05-30 11:25:51 AM  

mjsee: middleoftheday: I wonder how many "rent is like throwing your money away" people are upside down on their mortgages.

If the US didn't subsidize home-ownership through the tax code then people who couldn't really afford to buy wouldn't be as tempted.


I feel the same way about the divorce rate.
 
2011-05-30 11:26:27 AM  
Somebody's been reading xkcd today...

imgs.xkcd.com
 
2011-05-30 11:29:08 AM  

mekkab: I hate sharing walls with anyone. I seriously do not want to hear you farking. Apartments/Condo/Townhouse are all out.


FTFY

/used to have neighbors who went at it constantly
 
2011-05-30 11:32:36 AM  

DarthBrooks: In other news, it's always a safe bet to try and make money off Americans who think renting is cheaper than owning stuff.


I got curious about how bad an assfarking those places do give their victims, oh I mean customers, so I found a computer one of those places had for rental. It was a laptop, pretty much a piece of shiat (I mean, it had a Celeron processor; I had no idea they still make those things), which would be yours for just $19.95 a week, and it's yours in 52 weeks. That works out to just over a grand.

Meanwhile, I found a laptop with identical specs on Newegg for $299.
 
2011-05-30 11:36:40 AM  
"The best way to bring back the house-happy America of yore would be to let prices fall to market-clearing levels."

Atlas Shrugged Part One tanked at the box office, yet Reason is still trying to sell this shiat?
 
2011-05-30 11:44:02 AM  
My house isn't an investment. It's where I live. And if I hadn't bought it when I did, I would have been priced out of my awesome neighbourhood by now.
 
2011-05-30 11:45:11 AM  

Semper Gumby: I'm given a set amount by the government for housing. I'm going to be here for AT LEAST four years.


that sounds like a good deal and everything Gumby but one assumes you are still paying interest on your loan because that's how loans work so no, you are not recouping all of your money. that said, if you're being paid a housing allowance, you are most likely better off buying. for others it can be more complicated.
 
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