O/T Worthwhile buying a house in america or keep renting?

[pimpman]

renting is the biggest waste of money there is. you will never see that money again. Depending on where you live, a mortgage isn't much more than a rental payment.

No but you got taxes and insurance every year that u don't have when you rent.and if something breaks which it will more money also pay for landscape company or buy equipment to do it yourself I can go on for ever here.

As far as never seeing your money again that goes for everything you pay for.every time u pay for something u can kiss that money goodbye

 

[pimpman]

Buy now. Sell in 5-10 yrs and make some money.

Yea and when u sell u gotta buy again and u gonna pay the prices at that time unless u go live under a bridge or in your car after you sell to keep the money u made from your sale

 

[pimpman]

Speak for yourself. I have to pay for all the repairs and maintenance for my condo. The cheap bastards at HOA only pay for some outside maintenance. On a positive note, I bought my place after the housing market crashed and it's gone up in value by 40k.

Ha ha right I never seen any condo that pays for any repair you need if they did it be too easy everyone would buy one and never pay for anything that breaks I guess they forgetting HOA fee's which is so ridiculous hi

 

[gogotren]

to everybody that has bought hook, line and sinker that this housing recovery is real and lasting, let me ask you. Who is buying homes right now? Who do we need to buy homes? Young people! First time home buyers! These are the same group of people strapped with massive college debt, bad credit and are having hard time finding jobs. Plus this generation is much smaller than the last. The economy (GDP) is growing at what, 1.5% annualized now!? Is that good? No that`s pathetic, especially considering the federal reserve is pumping the system with 1 TRILLION per year and the federal govt over spends (borrows) 1.5 trillion per year... and after all that ongoing stimulus, borrowing and over spending we have 1.5% growth! No sense in helping the sheep, your all gonna get crushed anyway. But it`s ok, cause your "long term"

 

[woodswise]

One thing to mention about real estate agents......Don't listen to their BS.

They will always try to scare you into buying high and selling low so they can make their sale and commission.

One year after the housing/economic crash I talked to three real estate agents. Each one tried to convince me that the market had recovered and housing prices were on the rise. Bullshit.

Not all Real Estate Agents are the same. Some of them are basically scammers. Others will do you right. It is best to ask around and make sure you are dealing with an honest and reputable agent.

If you hire an agent to work for you (whether you are buying or selling) they should advocate for you. But you should always take their recommendations with a grain of salt, because they are trying to make the commission from the transaction.

if an agent is working for the other side (lets say you are buying and they represent the seller) they will try to get you to spend the most money possible if you are buying (lets say you are selling and they represent the buyer) they will try to convince you to sell for the lowest price, because that is their job.

 

[maldorf]

to everybody that has bought hook, line and sinker that this housing recovery is real and lasting, let me ask you. Who is buying homes right now? Who do we need to buy homes? Young people! First time home buyers! These are the same group of people strapped with massive college debt, bad credit and are having hard time finding jobs. Plus this generation is much smaller than the last. The economy (GDP) is growing at what, 1.5% annualized now!? Is that good? No that`s pathetic, especially considering the federal reserve is pumping the system with 1 TRILLION per year and the federal govt over spends (borrows) 1.5 trillion per year... and after all that ongoing stimulus, borrowing and over spending we have 1.5% growth! No sense in helping the sheep, your all gonna get crushed anyway. But it`s ok, cause your "long term"

Good point, those are the very people that shouldn't be buying or are overextending themselves so that they are house poor where they can barely afford to pay on a car or go out to eat whenever they want.

 

[nategeezy82]

The only way I would buy is if it was a lot cheaper than renting. You're never gonna build equity in a home. This generation missed that boat. Why do you think you can get some houses so cheap? You gotta understand, the national debt keeps increasing on a daily basis, which in turn increases inflation because they have to print more phoney money, inflation is a hidden tax, Which means the value of your hard earned dollar is worth less and less by the day. This country is in perpetual debt, when they call to borrow money, the reserve prints the money but they don't print the interest to go along with it. That's why it can never be paid back. Where do you think the gov gets the interest? our taxes, That's how the lenders get richer and everybody else gets poorer. Eventually everybody's home is gonna be worth little or nothing.

 

[gogotren]

You gotta understand, the national debt keeps increasing on a daily basis, which in turn increases inflation because they have to print more phoney money, inflation is a hidden tax, Which means the value of your hard earned dollar is worth less and less by the day. Where do you think the gov gets the interest? our taxes, That's how the lenders get richer and everybody else gets poorer. Eventually everybody's home is gonna be worth little or nothing.

um nate, if there is so much inflation how will home be worth little to nothing? Do you understand what you wrote contradicts itself? You reading info wars or something? Yes the Fed is printing money BUT debt (which is real money in circulation) has been written off in the private sector at almost the same pace. The money supply (M2) has not really increased much and the velocity of money has fallen off a cliff since 2007. The real battle is DEFLATION! That will make your house worth less and INCREASE buying power for people that have money saved.

 

[maldorf]

If you buy a house that you can afford to pay off in 15 yrs or less then I think its a good idea. You pay it off fast and then you live there with your only big cost being the real estate taxes. This is going to be a lot cheaper than renting and you build equity fast since youre not paying all of that interest. Paying a home off in 30 yrs is almost as bad as just paying the minimum payment on your credit card each month.

 

[mrniceguy215]

im pretty young and i plan on buying a home at the end of this year, i figure the market is low now, its starting to go up if i can find a long term loan on a humble 3 bedroom with a mortgage no more than 650-700 a month get two roommates paying 550 a month each, ill be living rent free and actually earning money on it or at least having money for its repairs from that. i actually plan on buying a home every year for the next three years and doing just that on each one.

 

[nidal ak]

People are the repeating the exact same words of what was said in 2007- beginning 2008.
Buying is better than renting, Its common sense and then the banks slammed and called their loans back and everything went down the drain. people that had mortages got f**ked and the ones that were renting were in the clear.
This was around 6 years ago and people already forgot. looooooool


some of the posts were for investment, the dude wants a home so your professional financial advice doesn't work for him

 

[maldorf]

Buying is better than renting, Its common sense and then the banks slammed and called their loans back and everything went down the drain. people that had mortages got f**ked and the ones that were renting were in the clear.

What really sucked was how the government gave incentives to banks to lower people's principle on their home mortgages if they were in trouble, meanwhile responsible people like us never get any breaks. Once again government steps in and rewards those that are irresponsible and expects others to pay for it. If your loan was owned by Fannie or Freddie they had all kinds of deals for you otherwise you were SOL.
How to Use Government Programs to Help Reduce Your Mortgage Payment | Home Guides | SF Gate

What ever happened to you entered into a legally binding agreement to pay X $ and that is what you owe?