I have a unique situation. Apartment building in a residential area of just stick built homes...next to a gigantic city park which is on the shores of one of the largest fresh water lakes on the planet.
Renters are not a problem.
I have a unique situation. Apartment building in a residential area of just stick built homes...next to a gigantic city park which is on the shores of one of the largest fresh water lakes on the planet.
Renters are not a problem.
also when i said the home ownership crap i wasn't really saying home ownership is bad in general....
plus in some ways its a luxury people like the privacy, they like the extra space, no neighbor is blasting their music at 3 in the morning, or loud in the hallway etc.....
Hear! Hear!
i just think that this everybody is entitled to a home and should own a home type shit that has sifted into our way of thinking is very bad and part of the reason we in this mess
some people just can't afford a home or don't have a stable enough economic situation and should be renters.
Banks (not the government) are the primary blame for creating the market via non-traditional products and laxed lending practices.
plus in some ways its a luxury people like the privacy, they like the extra space, no neighbor is blasting their music at 3 in the morning, or loud in the hallway etc.....
Hear! Hear!
i just think that this everybody is entitled to a home and should own a home type shit that has sifted into our way of thinking is very bad and part of the reason we in this mess
some people just can't afford a home or don't have a stable enough economic situation and should be renters.
Banks (not the government) are the primary blame for creating the market via non-traditional products and laxed lending practices.
Sorry...regular construction...2x4's...3 and 4 bedroom ranch and two stories in a residential neighborhood.
Must be a midwestern thing....lol
yeah people had a gun to their head to sign on the dotted line
yeah the quasi governmental (now nationalized) home loaning agency fannie mae had nothing to do with anything
so what's your solution more oversight? more regulation
seems like the SEC created by FDR did a damn great job overseeing things they are finding all these ponzi schemes AFTER they collapse
the problem is the government and regulation gets so big there is a vested interest from big powerful corporations and rich people to get involved and essentially "buy" the regulators off to look the other way
he's too important he gives me campaign donations no way i'm looking into him
the bigger the government the more corruption you will have
whether it be a communist society or a quasi free market society (what we have today is nothing even remotely close to free market capitalism)
what happened the in recent history under bush i would call corporatism where big business and governement are in bed with each other
now we moving toward the commie end of things with the dems now in control
both leading to big problems for the average joe
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Pay Rent 1K a month for 30 years = 360K
Mortgage 1K a month for 30 years = 360K
After 30 years
Renter has pile of receipts worth 0
Owner has a paid off home worth X amount X is greater than 0
Where is the normal average owner going wrong? When I say normal average I mean the currently estimated 91% who make their payments.
i know under normal circumstances it makes sense if one is a fiscally conservative person with a stable form of income
renters generally have less space and only the space they need and pay lower rent payment vs. a mortgage payment if they owned their own house
it costs more to heat a house than i costs to heat a rental unit some place heating and utilities included with the rent and what not.....trash removal is generally part of the rent.....
and again you need to factor in all the repairs...buying a lawn mower to mow your lawn and gas....buying a rake and having to rake the leaves and pay somebody to haul the leaves away.....fixing cracks....fixing toilets....fixing plumbing.....fixing a hot water tank.....as well as property taxes
my mom fully owns her home mortgage paid off....but she still pays "rent" (albeit it not a ton) through the above various things
and all that time you spent doing house choirs that you don't have to deal with in a rental unit could be applied to other areas like making yourself more educated or whatever.....
all i'm trying to say the "buying" (renting from the banks till you pay it off) a home vs. renting mentality isn't as positive as most people think looking at the big picture of things
honestly MJs setup seems like the most logical (bang for your buck) setup especially where our economy is heading (less home ownership and more rentin)
live in a rental unit and have the other tenets pay a bulk of the mortgage for you
now that seems like a great investment
but again you got headaches of having to fix a bunch of shit....getting your tenets to pay....etc...etc....so many headaches associated with it....
in the end the best way to invest is do what warren buffet did
be the investor in people's ideas...and let them do the work for you....
granted right now our economy long term is looking very dicey at the moment so one must be very sharp
renters generally have less space and only the space they need and pay lower rent payment vs. a mortgage payment if they owned their own house
it costs more to heat a house than i costs to heat a rental unit some place heating and utilities included with the rent and what not.....trash removal is generally part of the rent.....
and again you need to factor in all the repairs...buying a lawn mower to mow your lawn and gas....buying a rake and having to rake the leaves and pay somebody to haul the leaves away.....fixing cracks....fixing toilets....fixing plumbing.....fixing a hot water tank.....as well as property taxes
my mom fully owns her home mortgage paid off....but she still pays "rent" (albeit it not a ton) through the above various things
and all that time you spent doing house choirs that you don't have to deal with in a rental unit could be applied to other areas like making yourself more educated or whatever.....
all i'm trying to say the "buying" (renting from the banks till you pay it off) a home vs. renting mentality isn't as positive as most people think looking at the big picture of things
honestly MJs setup seems like the most logical (bang for your buck) setup especially where our economy is heading (less home ownership and more rentin)
live in a rental unit and have the other tenets pay a bulk of the mortgage for you
now that seems like a great investment
but again you got headaches of having to fix a bunch of shit....getting your tenets to pay....etc...etc....so many headaches associated with it....
in the end the best way to invest is do what warren buffet did
be the investor in people's ideas...and let them do the work for you....
granted right now our economy long term is looking very dicey at the moment so one must be very sharp
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