Renting is not better than buying

[Raybyrnes]

Bugs,

I have read enough of your threads to get a good idea of your perspective and I appreciate where you are coming from.

Here is my perspective. My mother complains about how much her retirement portfolio has dropped over the last year. I hear this not only form her but from other who are in their situation. But when you ask how they feel about losing more money on their homes than on their equity postions the reply is that they own their homes and have made money relative to their purchase price.

It is funny how people classify their gain and losses. I try to point out that relative to last year their home has lost close to 100K and they just don’t get it. No one sends a statement each month to say this is what your home value is worth.

There is something that the tech guru’s on the board should create. A detailed home estimator. They could market and sell it to the banks as an add on feature similiar to a free credit score and then let the banks pass it along to their clients so that they get a better picture of their Net Worth in a real time basis.

[Raybyrnes]

Rustico,

In responce to your post and for many of those who ask why would someone making 200K buy a cheap house. It would make more sense to think of the purchase as a perpetuity. Why wouldn’t a young family buy something well within their means use it for 4 or 5 years and then buy a new place and use the old place as a rental.

My folks are on the east coast. Wouldn’t it make sense to buy something within my means and then if my parents get to a point that they want to move closer to the family have a place waiting for them with the flexibility of buying a larger place down the line.

God forbid during that 5 to 7 year period something wer to happen to the primary earner they are well within their comfort level without hving to pay hefty life, and disability premiums over that period of time.

[Raybyrnes]

Rustico,

In responce to your post and for many of those who ask why would someone making 200K buy a cheap house. It would make more sense to think of the purchase as a perpetuity. Why wouldn’t a young family buy something well within their means use it for 4 or 5 years and then buy a new place and use the old place as a rental.

My folks are on the east coast. Wouldn’t it make sense to buy something within my means and then if my parents get to a point that they want to move closer to the family have a place waiting for them with the flexibility of buying a larger place down the line.

God forbid during that 5 to 7 year period something wer to happen to the primary earner they are well within their comfort level without hving to pay hefty life, and disability premiums over that period of time.

[Raybyrnes]

Rustico,

In responce to your post and for many of those who ask why would someone making 200K buy a cheap house. It would make more sense to think of the purchase as a perpetuity. Why wouldn’t a young family buy something well within their means use it for 4 or 5 years and then buy a new place and use the old place as a rental.

My folks are on the east coast. Wouldn’t it make sense to buy something within my means and then if my parents get to a point that they want to move closer to the family have a place waiting for them with the flexibility of buying a larger place down the line.

God forbid during that 5 to 7 year period something wer to happen to the primary earner they are well within their comfort level without hving to pay hefty life, and disability premiums over that period of time.

[Raybyrnes]

Rustico,

In responce to your post and for many of those who ask why would someone making 200K buy a cheap house. It would make more sense to think of the purchase as a perpetuity. Why wouldn’t a young family buy something well within their means use it for 4 or 5 years and then buy a new place and use the old place as a rental.

My folks are on the east coast. Wouldn’t it make sense to buy something within my means and then if my parents get to a point that they want to move closer to the family have a place waiting for them with the flexibility of buying a larger place down the line.

God forbid during that 5 to 7 year period something wer to happen to the primary earner they are well within their comfort level without hving to pay hefty life, and disability premiums over that period of time.

[Raybyrnes]

Rustico,

In responce to your post and for many of those who ask why would someone making 200K buy a cheap house. It would make more sense to think of the purchase as a perpetuity. Why wouldn’t a young family buy something well within their means use it for 4 or 5 years and then buy a new place and use the old place as a rental.

My folks are on the east coast. Wouldn’t it make sense to buy something within my means and then if my parents get to a point that they want to move closer to the family have a place waiting for them with the flexibility of buying a larger place down the line.

God forbid during that 5 to 7 year period something wer to happen to the primary earner they are well within their comfort level without hving to pay hefty life, and disability premiums over that period of time.

[cr]

Alex_angel has not even replied to his own thread.

He has one intention: raise a stink with no logic, intelligence, or common sense.

I believe he is what forums refer to as a flamer.

Vote_ban_user “Alex_angel”; “1” = “yes”; “2” = “no”

😉

[cr]

Alex_angel has not even replied to his own thread.

He has one intention: raise a stink with no logic, intelligence, or common sense.

I believe he is what forums refer to as a flamer.

Vote_ban_user “Alex_angel”; “1” = “yes”; “2” = “no”

😉

[cr]

Alex_angel has not even replied to his own thread.

He has one intention: raise a stink with no logic, intelligence, or common sense.

I believe he is what forums refer to as a flamer.

Vote_ban_user “Alex_angel”; “1” = “yes”; “2” = “no”

😉

[cr]

Alex_angel has not even replied to his own thread.

He has one intention: raise a stink with no logic, intelligence, or common sense.

I believe he is what forums refer to as a flamer.

Vote_ban_user “Alex_angel”; “1” = “yes”; “2” = “no”

😉

[cr]

Alex_angel has not even replied to his own thread.

He has one intention: raise a stink with no logic, intelligence, or common sense.

I believe he is what forums refer to as a flamer.

Vote_ban_user “Alex_angel”; “1” = “yes”; “2” = “no”

😉

[JWM in SD]

JWM in SD

Hey Coop,

I actually believe that Alex is really a memeber of the MSM who comes here for material for his / her articles. Think about it, if you were a lazy MSM reporter who is now being asked to report on the “Subprime Problem” because now it is news worthy (two years too late), how easy would it be to get excellent material by baiting posters in a well known RE Bear Blog, and getting quality arguments for free. Look at the quality of posts this generated (except mine of course), and tell me that they were not quote worthy? Read some of the latest articles in the MSM and you would swear that the author is pulling directly from the blogs whether they acknowledge them or not.

Just my theory of course…..

[JWM in SD]

JWM in SD

Hey Coop,

I actually believe that Alex is really a memeber of the MSM who comes here for material for his / her articles. Think about it, if you were a lazy MSM reporter who is now being asked to report on the “Subprime Problem” because now it is news worthy (two years too late), how easy would it be to get excellent material by baiting posters in a well known RE Bear Blog, and getting quality arguments for free. Look at the quality of posts this generated (except mine of course), and tell me that they were not quote worthy? Read some of the latest articles in the MSM and you would swear that the author is pulling directly from the blogs whether they acknowledge them or not.

Just my theory of course…..

[JWM in SD]

JWM in SD

Hey Coop,

I actually believe that Alex is really a memeber of the MSM who comes here for material for his / her articles. Think about it, if you were a lazy MSM reporter who is now being asked to report on the “Subprime Problem” because now it is news worthy (two years too late), how easy would it be to get excellent material by baiting posters in a well known RE Bear Blog, and getting quality arguments for free. Look at the quality of posts this generated (except mine of course), and tell me that they were not quote worthy? Read some of the latest articles in the MSM and you would swear that the author is pulling directly from the blogs whether they acknowledge them or not.

Just my theory of course…..

[JWM in SD]

JWM in SD

Hey Coop,

I actually believe that Alex is really a memeber of the MSM who comes here for material for his / her articles. Think about it, if you were a lazy MSM reporter who is now being asked to report on the “Subprime Problem” because now it is news worthy (two years too late), how easy would it be to get excellent material by baiting posters in a well known RE Bear Blog, and getting quality arguments for free. Look at the quality of posts this generated (except mine of course), and tell me that they were not quote worthy? Read some of the latest articles in the MSM and you would swear that the author is pulling directly from the blogs whether they acknowledge them or not.

Just my theory of course…..

[Author]

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