Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I know how depressing that is. It sounds identical to the situation I was in right out of college. Right down to the fight-filled roommate situation - the guy in the room next to mine broke his off the hinges when his girlfriend locked him out.
The difference is that this was 30 years ago, and I decided THEN to get out of there. You "need", you have "issues", yet you never do anything to change your situation other than complain on CD.
As for your claim that rent costs increase faster than owning, can you share your stats on that?
Can't get out unless I have a small pile of cash (i.e. enough cash to move into some other place), and in this living environment I'll probably never have that.
I don't have a cite for you, but rents are based on what the market will bear, and not on costs. The fact that fixed-rate P&I payments remain constant restrains cost increases for owners; costs effectively set a floor on rents but not a ceiling.
Can't get out unless I have a small pile of cash (i.e. enough cash to move into some other place), and in this living environment I'll probably never have that.
I don't have a cite for you, but rents are based on what the market will bear, and not on costs. The fact that fixed-rate P&I payments remain constant restrains cost increases for owners; costs effectively set a floor on rents but not a ceiling.
Very sad, that you've had virtually the same upbringing as me, and more opportunity (college degree, being a male), but haven't managed to do in 30 years what I did a long time ago.
Rents are based on the market. Which is why, when your rental needs major repairs, your rent doesn't go up beyond what the market will bear.
Very sad, that you've had virtually the same upbringing as me, and more opportunity (college degree, being a male), but haven't managed to do in 30 years what I did a long time ago.
Rents are based on the market. Which is why, when your rental needs major repairs, your rent doesn't go up beyond what the market will bear.
Note the shortsightedness of student loan collectors; deferring payments for say six months (enabling me to apply that money to a move-in elsewhere) simply is not an option. And they probably wonder why their ongoing dunning fails to produce good results.
If a rental needs major repairs, probably either the tenant abused the property or the landlord deferred maintenance way too long.
Note the shortsightedness of student loan collectors; deferring payments for say six months (enabling me to apply that money to a move-in elsewhere) simply is not an option. And they probably wonder why their ongoing dunning fails to produce good results.
If a rental needs major repairs, probably either the tenant abused the property or the landlord deferred maintenance way too long.
If you'd paid your student loan off in a timely manner, instead of waiting for 30 years to do so, it would be a non-issue.
You really have no clue about owning a home, do you. Homes need major repairs periodically, and it has nothing to with maintenance. Roofs, water heaters, appliances, plumbing, electrical - they all have a lifespan. And all the maintenance in the world won't keep replacement from being necessary eventually.
If you'd paid your student loan off in a timely manner, instead of waiting for 30 years to do so, it would be a non-issue.
You really have no clue about owning a home, do you. Homes need major repairs periodically, and it has nothing to with maintenance. Roofs, water heaters, appliances, plumbing, electrical - they all have a lifespan. And all the maintenance in the world won't keep replacement from being necessary eventually.
I have told Freemkt that many times.
There is always upkeep when owning a home.
The last time a told him.....we were replacing a yard light......that was $150.
Today I thought my puppy was spilling her water.......nope....there is a leak under the kitchen sink.
The last time a told him.....we were replacing a yard light......that was $150.
Today I thought my puppy was spilling her water.......nope....there is a leak under the kitchen sink.
And this is exactly why I favor renting, at least at this point in my life. It makes better sense financially (even long-term) for me, but it also means I don't have to worry about these unexpected expenses or the labor involved fixing them.
There's nothing wrong with renting. I thing the problem is as a society we shame people into owning, even if it doesn't make sense for everyone.
In addition to financial reasons, owning a home is not a good fit for many people due to time, health, and skill limitations as well. If you need to hire someone to do basic work like interior painting, cleaning gutters, maintaining the yard, unclogging drains, etc., home ownership will not be cost effective at all. Conversely, if you do have the time and capability to do these things, home ownership starts to make sense. If you are very "handy' and capable of doing remodeling and renovation work as well, home ownership becomes very rewarding financially.
I believe that part of the reason more people are choosing to rent (and thus driving up the cost) is that Americans have gotten less "handy" over the past few generations. I consider myself fairly capable, but I couldn't begin to build my whole house from the foundation up like my great grandfather.
There is definitely a widening divide between those that can and those the can't or choose not to.
I had colleagues visiting from Germany a few months... they were amazed at the number of home owners in modest homes that have gardeners...
Fewer people undertake simply tasks that would have been just part of normal home ownership not that long ago...
Another thing I notice is people getting rid of tools... lots of tools when someone moves or passes away... there was a time when Dad's table saw or Rigid Pipe Wrenches and Thread set would have been passed from one generation to the next...
If you'd paid your student loo99999999an off in a timely manner, instead of waiting for 30 years to do so, it would be a non-issue.
You really have no clue about owning a home, do you. Homes need major repairs periodically, and it has nothing to with maintenance. Roofs, water heaters, appliances, plumbing, electrical - they all have a lifespan. And all the maintenance in the world won't keep replacement from being necessary eventually.
I have paid more than the principal balance plus accrued interest. What more can I do on a poverty level income?
Yes I am familiar wth concepts like maintenance and useful life. That's why one should always budget a reserve fund for these items.
e.g. rent = $1200/mo ... mortgage payment (including taxes and insurance) = $900/mo ... dedicate $300/mo to reserve fund and apply as needed ... and verify useful expected life of major items (e.g. roof, HVAC, major appliances) before you close and adjust reserve as necessary.
In a tiny home, these costs will be generally lower, e.g. roof will be much cheaper.
The last time a told him.....we were replacing a yard light......that was $150.
Today I thought my puppy was spilling her water.......nope....there is a leak under the kitchen sink.
If owning a home is so expensive and so burdensome, why do most Americans own a home? Why dn't you sell yours and rent? (Are the local government restrictions greater on rentals than on owner-occupied homes?)
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
