For all you prudent renters

[greensd]

My only point with my post as of late is to bring light to the fact that the people who are most angry are those who missed the boat.

Maybe for some, but I think you’re wrong about the majority of us, and even framing the issue this way shows how wrong you are. The point is, there is no boat! Nothing happened between 2002 and 2005 to change the fundamentals of how residential real estate works. No law of man or nature says that anyone who didn’t buy a house before 2003 will forever pay rent to someone who did. For reasons discussed endlessly on this blog and others, the real estate market got badly distorted for a little while there, and now we’re just waiting for it to get back to normal.

As for the anger, I can only speak for myself. I couldn’t buy a house back in the 90’s because I was in grad school. Seemed like a reasonable tradeoff then, and it still does. Next I couldn’t buy a house in 2002 because I was doing a postdoc overseas. Again, a fair tradeoff. Then, once I got a faculty job, I couldn’t buy a house because the markets had gone nuts while a few people made tons of quick cash. Not so fair a tradeoff, really. Pretty irritating, in fact. But I look at it like it was a war or natural disaster or something… for reasons beyond anyone’s control, sometimes things just go against you. But now, there’s no reason why I shouldn’t be able to buy a house. Any policy that artificially props up unsustainable housing prices keeps me paying rent and costs me money for no good reason. It benefits a subpart of society at my expense, for no particular public good, and that makes me mad.

(I should say, though, that Bush’s freeze plan doesn’t look like it’ll do much of anything, and so it doesn’t move me one way or the other.)

[paramount]

As I have read through various posts over many months, there seems to be quite a few posters (renters primarily) who seem to believe that they are basically entiltled to live in a certain community just as soon as the prices adjust to their expectations and reality.

That’s just another way of saying they can’t afford (in most cases) to live where they think they should or want to live.

My suggestion (asked for or not), and I have suggested this before:

Step 1: Buy a house/condo (or whatever) you can afford that is reasonably close to work, etc.., get a fixed mortgage 30 year mortgage. Put down some money (5-10%) so that you have a vested interest in your community.

Step 2: Enjoy life

Life is way to short to be worried about the things people worry about on this board.

I bought my house 5 years ago, I can afford it, it’s where I am raising my family and that’s it. I really don’t care what the value is – you to can be in this position. I wish it were bigger, but oh well that’s life.

Stop being so greedy and self righteous. The system is rigged anyway, just be realistic about your expectations – you may not be able to live in del sur or 4s Ranch – again, that’s life.

[paramount]

As I have read through various posts over many months, there seems to be quite a few posters (renters primarily) who seem to believe that they are basically entiltled to live in a certain community just as soon as the prices adjust to their expectations and reality.

That’s just another way of saying they can’t afford (in most cases) to live where they think they should or want to live.

My suggestion (asked for or not), and I have suggested this before:

Step 1: Buy a house/condo (or whatever) you can afford that is reasonably close to work, etc.., get a fixed mortgage 30 year mortgage. Put down some money (5-10%) so that you have a vested interest in your community.

Step 2: Enjoy life

Life is way to short to be worried about the things people worry about on this board.

I bought my house 5 years ago, I can afford it, it’s where I am raising my family and that’s it. I really don’t care what the value is – you to can be in this position. I wish it were bigger, but oh well that’s life.

Stop being so greedy and self righteous. The system is rigged anyway, just be realistic about your expectations – you may not be able to live in del sur or 4s Ranch – again, that’s life.

[paramount]

As I have read through various posts over many months, there seems to be quite a few posters (renters primarily) who seem to believe that they are basically entiltled to live in a certain community just as soon as the prices adjust to their expectations and reality.

That’s just another way of saying they can’t afford (in most cases) to live where they think they should or want to live.

My suggestion (asked for or not), and I have suggested this before:

Step 1: Buy a house/condo (or whatever) you can afford that is reasonably close to work, etc.., get a fixed mortgage 30 year mortgage. Put down some money (5-10%) so that you have a vested interest in your community.

Step 2: Enjoy life

Life is way to short to be worried about the things people worry about on this board.

I bought my house 5 years ago, I can afford it, it’s where I am raising my family and that’s it. I really don’t care what the value is – you to can be in this position. I wish it were bigger, but oh well that’s life.

Stop being so greedy and self righteous. The system is rigged anyway, just be realistic about your expectations – you may not be able to live in del sur or 4s Ranch – again, that’s life.

[paramount]

As I have read through various posts over many months, there seems to be quite a few posters (renters primarily) who seem to believe that they are basically entiltled to live in a certain community just as soon as the prices adjust to their expectations and reality.

That’s just another way of saying they can’t afford (in most cases) to live where they think they should or want to live.

My suggestion (asked for or not), and I have suggested this before:

Step 1: Buy a house/condo (or whatever) you can afford that is reasonably close to work, etc.., get a fixed mortgage 30 year mortgage. Put down some money (5-10%) so that you have a vested interest in your community.

Step 2: Enjoy life

Life is way to short to be worried about the things people worry about on this board.

I bought my house 5 years ago, I can afford it, it’s where I am raising my family and that’s it. I really don’t care what the value is – you to can be in this position. I wish it were bigger, but oh well that’s life.

Stop being so greedy and self righteous. The system is rigged anyway, just be realistic about your expectations – you may not be able to live in del sur or 4s Ranch – again, that’s life.

[paramount]

As I have read through various posts over many months, there seems to be quite a few posters (renters primarily) who seem to believe that they are basically entiltled to live in a certain community just as soon as the prices adjust to their expectations and reality.

That’s just another way of saying they can’t afford (in most cases) to live where they think they should or want to live.

My suggestion (asked for or not), and I have suggested this before:

Step 1: Buy a house/condo (or whatever) you can afford that is reasonably close to work, etc.., get a fixed mortgage 30 year mortgage. Put down some money (5-10%) so that you have a vested interest in your community.

Step 2: Enjoy life

Life is way to short to be worried about the things people worry about on this board.

I bought my house 5 years ago, I can afford it, it’s where I am raising my family and that’s it. I really don’t care what the value is – you to can be in this position. I wish it were bigger, but oh well that’s life.

Stop being so greedy and self righteous. The system is rigged anyway, just be realistic about your expectations – you may not be able to live in del sur or 4s Ranch – again, that’s life.

[Anonymous]

People should be accountable for their actions. You make a mistake, you pay for it. I don’t want to see people being bailed out who made unwise decisions at the cost of prices being inflated longer than they should be. I sure as hell don’t want my tax dollars going to keep people in homes they can’t afford. I hope it never comes to that. That’s what my resentment is about.

[Anonymous]

People should be accountable for their actions. You make a mistake, you pay for it. I don’t want to see people being bailed out who made unwise decisions at the cost of prices being inflated longer than they should be. I sure as hell don’t want my tax dollars going to keep people in homes they can’t afford. I hope it never comes to that. That’s what my resentment is about.

[Anonymous]

People should be accountable for their actions. You make a mistake, you pay for it. I don’t want to see people being bailed out who made unwise decisions at the cost of prices being inflated longer than they should be. I sure as hell don’t want my tax dollars going to keep people in homes they can’t afford. I hope it never comes to that. That’s what my resentment is about.

[Anonymous]

People should be accountable for their actions. You make a mistake, you pay for it. I don’t want to see people being bailed out who made unwise decisions at the cost of prices being inflated longer than they should be. I sure as hell don’t want my tax dollars going to keep people in homes they can’t afford. I hope it never comes to that. That’s what my resentment is about.

[Anonymous]

People should be accountable for their actions. You make a mistake, you pay for it. I don’t want to see people being bailed out who made unwise decisions at the cost of prices being inflated longer than they should be. I sure as hell don’t want my tax dollars going to keep people in homes they can’t afford. I hope it never comes to that. That’s what my resentment is about.

[Anonymous]

FLU: “My concern is that the Government is now going to waste my tax dollars and everyone else’s tax dollars to help out these people who shouldn’t have been able to buy a home to begin with. I’d rather donate that money to really needy kids who at least have a possible brighter future.”

Damn…You’re just as sweet as sugar.

🙂

“How many people on these teaser rates have credit > 600, never missed payments, are + in equity? Ha!. That’s the irony. These people who are in trouble stretched too thing already. I doubt this is really going to help. I just hope the Government doesn’t go down this rat-hole to help more people out. This is such a bad idea at so many levels.”

Flu, I have a sinking feeling this is just what the government has planned. Afterall, it’s for the good of the economy, right?…

[Anonymous]

FLU: “My concern is that the Government is now going to waste my tax dollars and everyone else’s tax dollars to help out these people who shouldn’t have been able to buy a home to begin with. I’d rather donate that money to really needy kids who at least have a possible brighter future.”

Damn…You’re just as sweet as sugar.

🙂

“How many people on these teaser rates have credit > 600, never missed payments, are + in equity? Ha!. That’s the irony. These people who are in trouble stretched too thing already. I doubt this is really going to help. I just hope the Government doesn’t go down this rat-hole to help more people out. This is such a bad idea at so many levels.”

Flu, I have a sinking feeling this is just what the government has planned. Afterall, it’s for the good of the economy, right?…

[Anonymous]

FLU: “My concern is that the Government is now going to waste my tax dollars and everyone else’s tax dollars to help out these people who shouldn’t have been able to buy a home to begin with. I’d rather donate that money to really needy kids who at least have a possible brighter future.”

Damn…You’re just as sweet as sugar.

🙂

“How many people on these teaser rates have credit > 600, never missed payments, are + in equity? Ha!. That’s the irony. These people who are in trouble stretched too thing already. I doubt this is really going to help. I just hope the Government doesn’t go down this rat-hole to help more people out. This is such a bad idea at so many levels.”

Flu, I have a sinking feeling this is just what the government has planned. Afterall, it’s for the good of the economy, right?…

[Anonymous]

FLU: “My concern is that the Government is now going to waste my tax dollars and everyone else’s tax dollars to help out these people who shouldn’t have been able to buy a home to begin with. I’d rather donate that money to really needy kids who at least have a possible brighter future.”

Damn…You’re just as sweet as sugar.

🙂

“How many people on these teaser rates have credit > 600, never missed payments, are + in equity? Ha!. That’s the irony. These people who are in trouble stretched too thing already. I doubt this is really going to help. I just hope the Government doesn’t go down this rat-hole to help more people out. This is such a bad idea at so many levels.”

Flu, I have a sinking feeling this is just what the government has planned. Afterall, it’s for the good of the economy, right?…

[Author]

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