Are other fence sitters experiencing the same feeling?

[an]

David J, I’m with you on this one. That’s our plan as well. Since the affordable areas have dropped much more than the more desirable areas, the down side risk is much lower for the affordable area. It’s all about risk vs reward. The reward of owning your own home is different for everyone, so I can’t expect everyone to agree.

[patientlywaiting]

I’ve read asianautica’s posts over time and his perspective is a very much in line with that of Asian immigrants’ that I know.

They have very strong aversion to paying rent. And owning is much more “well-regarded” by relatives. Therefore people will make sacrifices such as living with relatives to save-up for a downpayment. I would not be surprised if asianautica’s relatives are “pressuring” him to buy.

A modest family will not mind paying a high mortgage to own and they will split the expenses amount family members. I’ve met people who live two adults per bedroom, every bedroom.

I used to work in manufacturing where there were lots of Asian employees and it was hard to explain the concept of utility where buy/rent is just the financing method by which one acquires shelter.

I believe that Asians place a lot more value on the concept of ownership and are willing to sacrifice just so they can say they own. That’s very good but can lead one to overpay when the market is high(but that overpayment is ok when split up among many adults).

[patientlywaiting]

I’ve read asianautica’s posts over time and his perspective is a very much in line with that of Asian immigrants’ that I know.

They have very strong aversion to paying rent. And owning is much more “well-regarded” by relatives. Therefore people will make sacrifices such as living with relatives to save-up for a downpayment. I would not be surprised if asianautica’s relatives are “pressuring” him to buy.

A modest family will not mind paying a high mortgage to own and they will split the expenses amount family members. I’ve met people who live two adults per bedroom, every bedroom.

I used to work in manufacturing where there were lots of Asian employees and it was hard to explain the concept of utility where buy/rent is just the financing method by which one acquires shelter.

I believe that Asians place a lot more value on the concept of ownership and are willing to sacrifice just so they can say they own. That’s very good but can lead one to overpay when the market is high(but that overpayment is ok when split up among many adults).

[patientlywaiting]

I’ve read asianautica’s posts over time and his perspective is a very much in line with that of Asian immigrants’ that I know.

They have very strong aversion to paying rent. And owning is much more “well-regarded” by relatives. Therefore people will make sacrifices such as living with relatives to save-up for a downpayment. I would not be surprised if asianautica’s relatives are “pressuring” him to buy.

A modest family will not mind paying a high mortgage to own and they will split the expenses amount family members. I’ve met people who live two adults per bedroom, every bedroom.

I used to work in manufacturing where there were lots of Asian employees and it was hard to explain the concept of utility where buy/rent is just the financing method by which one acquires shelter.

I believe that Asians place a lot more value on the concept of ownership and are willing to sacrifice just so they can say they own. That’s very good but can lead one to overpay when the market is high(but that overpayment is ok when split up among many adults).

[patientlywaiting]

I’ve read asianautica’s posts over time and his perspective is a very much in line with that of Asian immigrants’ that I know.

They have very strong aversion to paying rent. And owning is much more “well-regarded” by relatives. Therefore people will make sacrifices such as living with relatives to save-up for a downpayment. I would not be surprised if asianautica’s relatives are “pressuring” him to buy.

A modest family will not mind paying a high mortgage to own and they will split the expenses amount family members. I’ve met people who live two adults per bedroom, every bedroom.

I used to work in manufacturing where there were lots of Asian employees and it was hard to explain the concept of utility where buy/rent is just the financing method by which one acquires shelter.

I believe that Asians place a lot more value on the concept of ownership and are willing to sacrifice just so they can say they own. That’s very good but can lead one to overpay when the market is high(but that overpayment is ok when split up among many adults).

[patientlywaiting]

I’ve read asianautica’s posts over time and his perspective is a very much in line with that of Asian immigrants’ that I know.

They have very strong aversion to paying rent. And owning is much more “well-regarded” by relatives. Therefore people will make sacrifices such as living with relatives to save-up for a downpayment. I would not be surprised if asianautica’s relatives are “pressuring” him to buy.

A modest family will not mind paying a high mortgage to own and they will split the expenses amount family members. I’ve met people who live two adults per bedroom, every bedroom.

I used to work in manufacturing where there were lots of Asian employees and it was hard to explain the concept of utility where buy/rent is just the financing method by which one acquires shelter.

I believe that Asians place a lot more value on the concept of ownership and are willing to sacrifice just so they can say they own. That’s very good but can lead one to overpay when the market is high(but that overpayment is ok when split up among many adults).

[Anonymous]

I look at it as a rent/buy decision. I’m happy renting at an annual cost of 3% of the home’s current value (this is an upper-end home, good location, like-new condition). 3%! Sometimes I pinch myself to make sure I’m not dreaming.

Of course renting is not ideal, but it does change your perspective on home prices. Before I might have thought, “I’m looking for a 25% decline from peak before I buy.” Now, I think, “why should my mortgage payment, maintenance and taxes be more than the rent I pay now?” To equate to the rent, home prices in my area would have to come down by 50% from the peak. Okay, maybe I’d be happy with 40%, but otherwise, no deal.

[Anonymous]

I look at it as a rent/buy decision. I’m happy renting at an annual cost of 3% of the home’s current value (this is an upper-end home, good location, like-new condition). 3%! Sometimes I pinch myself to make sure I’m not dreaming.

Of course renting is not ideal, but it does change your perspective on home prices. Before I might have thought, “I’m looking for a 25% decline from peak before I buy.” Now, I think, “why should my mortgage payment, maintenance and taxes be more than the rent I pay now?” To equate to the rent, home prices in my area would have to come down by 50% from the peak. Okay, maybe I’d be happy with 40%, but otherwise, no deal.

[Anonymous]

I look at it as a rent/buy decision. I’m happy renting at an annual cost of 3% of the home’s current value (this is an upper-end home, good location, like-new condition). 3%! Sometimes I pinch myself to make sure I’m not dreaming.

Of course renting is not ideal, but it does change your perspective on home prices. Before I might have thought, “I’m looking for a 25% decline from peak before I buy.” Now, I think, “why should my mortgage payment, maintenance and taxes be more than the rent I pay now?” To equate to the rent, home prices in my area would have to come down by 50% from the peak. Okay, maybe I’d be happy with 40%, but otherwise, no deal.

[Anonymous]

I look at it as a rent/buy decision. I’m happy renting at an annual cost of 3% of the home’s current value (this is an upper-end home, good location, like-new condition). 3%! Sometimes I pinch myself to make sure I’m not dreaming.

Of course renting is not ideal, but it does change your perspective on home prices. Before I might have thought, “I’m looking for a 25% decline from peak before I buy.” Now, I think, “why should my mortgage payment, maintenance and taxes be more than the rent I pay now?” To equate to the rent, home prices in my area would have to come down by 50% from the peak. Okay, maybe I’d be happy with 40%, but otherwise, no deal.

[Anonymous]

I look at it as a rent/buy decision. I’m happy renting at an annual cost of 3% of the home’s current value (this is an upper-end home, good location, like-new condition). 3%! Sometimes I pinch myself to make sure I’m not dreaming.

Of course renting is not ideal, but it does change your perspective on home prices. Before I might have thought, “I’m looking for a 25% decline from peak before I buy.” Now, I think, “why should my mortgage payment, maintenance and taxes be more than the rent I pay now?” To equate to the rent, home prices in my area would have to come down by 50% from the peak. Okay, maybe I’d be happy with 40%, but otherwise, no deal.

[kewp]

Unless you pay cash for a property you are renting money from the bank.

I’ll rent for the rest of my life before I overpay for shelter. I would rather have the freedom and extra cash, plus the knowledge that I’m not buying into the greatest fraud in human history.

[kewp]

Unless you pay cash for a property you are renting money from the bank.

I’ll rent for the rest of my life before I overpay for shelter. I would rather have the freedom and extra cash, plus the knowledge that I’m not buying into the greatest fraud in human history.

[kewp]

Unless you pay cash for a property you are renting money from the bank.

I’ll rent for the rest of my life before I overpay for shelter. I would rather have the freedom and extra cash, plus the knowledge that I’m not buying into the greatest fraud in human history.

[kewp]

Unless you pay cash for a property you are renting money from the bank.

I’ll rent for the rest of my life before I overpay for shelter. I would rather have the freedom and extra cash, plus the knowledge that I’m not buying into the greatest fraud in human history.

[Author]

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