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.
My home has appreciated 50% since I bought it 5 years ago. This means I could sell it tomorrow and walk away debt free with well over $125,000 in my pocket. Now, how much do you think you'll walk away with if you decided to move out of your rental?
You are only looking at a fraction of the equation. It's simple math that comes into play so there is no need to try and way your finger at me with your wonderful appreciation or an assumption that I live in a rental. Also what would your estimated gain be if you bought a couple years sooner? Depending on the timing it could have possibly be better or much worse and then what?
You conveniently skipped the second part of my post. I wonder why that was? Maybe it was your inability to be objective? Like I said above it's a math equation with a number of variables and I'd wager your calculation of how much your have in your pocket includes money that was already your to began with
Fewer and fewer people are wanting a long suburban commute, especially the millennial generation. They would rather pay the high rents in the urban core to be closer to work and amenities. It's not really the "American Dream" to have a suburban lifestyle anymore.
Tiny house movement is gaining strength
Some communities are allowing people to build smaller homes than they have in past due to eco movement and financial situations
But I think people don't know enough about the history of the US to understand that it wasn't until after WWII with the GI Bill which provided for govt loans for vets that the personal home became feasible for most working class Americans...
Before that time, homes were often either a family affair with multi-generational layers living in common...and even that was often a long-term rental or they were just outright rental properties...
Homesteaders built sod homes if they had no cheap available lumber from their own land but many farmers were simply sharecroppers and lived in houses owned by the person they sharecropper for--basically becoming indentured servants to those more wealthy -- just as in early days of the colonies when people paid for their trip to America by working as indentured servant for X years...
The suburban communities that sprang up after WWII were a combination of years of pent-up demand based on WWII itself and also the Depression when lives were in disarray from people lacking work and stable income...and also the huge growth in the US economy/manufacturing and other aspects like building the interstate highway system that President Eisenhower promoted as jobs growth program....
We rebuilt Europe and Japan basically after WWII was over since their factories and work force had been decimated by the war years...
Unfortunately we have spend MORE money in the Middle East because of the 2nd Gulf War and have much less to show for it at home with a strong economy or in the Middle East itself which is still mired in the Dark Ages in more ways than one...
There were laws in force to prevent profiteering in WWII--unfortunately not in the era of we are in now...
Thank lobbyists and a Congress which gets so much largess from the military/industrial complex and those who make money selling/sustaining war that anyone speaking about waste and abuse are classified as UN-American.
Our home has not appreciated much since we purchased it several years ago, but our monthly payments (which are about the same as the rental payments could have been) have reduced the principal by almost $80,000.
That's like a great big piggy bank.
Our house will be paid off in less than 10 years. Then we'll have only taxes. Just using basic common sense, that's a sweet deal.
The reduction of princ is great in that it reduces your interest cost but outside of that if you had just put 80,000 in the bank there would be little difference.
Basic common sense says that there isn't a universal best choice and that there are many factors that go in to making the best decision using common sense
PS==my son and daughter in law bought home in town north of Dallas about 4 yrs ago when they married
They are selling now to move closer to work--she has a job now vs going to grad school when they married
They are going to make maybe 50K in profit after closing--that is more than 1/3 the value of the price they bought at...
That area is seeing strong appreciation in value and they did get good deal when they bought...
Some areas aren't doing that well--but most of the DFW TX area are benefitting from strong local economy and people moving in from out of state with good bit of equity---also some people buying in cash for rental/investment...
This area didn't have the bottom fall out in 08 like other areas did even if there were no big appreciations in price until recently...
Real Estate is all about location--locations that are desireable, that have strong economy for various reasons, and decent schools...if public schools are not strong, then generally taxes are so low people can afford to use that savings to pay for private education--that is the situation in places like Louisiana where public schools in many areas are really bad...
Location: San Ramon, Seattle, Anchorage, Reykjavik
2,254 posts, read 2,739,837 times
Reputation: 3203
Quote:
Originally Posted by loves2read
Tiny house movement is gaining strength
Some communities are allowing people to build smaller homes than they have in past due to eco movement and financial situations
But I think people don't know enough about the history of the US to understand that it wasn't until after WWII with the GI Bill which provided for govt loans for vets that the personal home became feasible for most working class Americans...
Before that time, homes were often either a family affair with multi-generational layers living in common...and even that was often a long-term rental or they were just outright rental properties...
Homesteaders built sod homes if they had no cheap available lumber from their own land but many farmers were simply sharecroppers and lived in houses owned by the person they sharecropper for--basically becoming indentured servants to those more wealthy -- just as in early days of the colonies when people paid for their trip to America by working as indentured servant for X years...
The suburban communities that sprang up after WWII were a combination of years of pent-up demand based on WWII itself and also the Depression when lives were in disarray from people lacking work and stable income...and also the huge growth in the US economy/manufacturing and other aspects like building the interstate highway system that President Eisenhower promoted as jobs growth program....
We rebuilt Europe and Japan basically after WWII was over since their factories and work force had been decimated by the war years...
Unfortunately we have spend MORE money in the Middle East because of the 2nd Gulf War and have much less to show for it at home with a strong economy or in the Middle East itself which is still mired in the Dark Ages in more ways than one...
There were laws in force to prevent profiteering in WWII--unfortunately not in the era of we are in now...
Thank lobbyists and a Congress which gets so much largess from the military/industrial complex and those who make money selling/sustaining war that anyone speaking about waste and abuse are classified as UN-American.
Where I'm from in Iowa everyone had a house, back to the 1840s. Several of my ancestors bought their house from the Sears and Roebuck catalog and had the materials dropped off on the prairie by the train. They assembled it themselves and, to the house, every one is still standing and occupied.
Fewer and fewer people are wanting a long suburban commute, especially the millennial generation. They would rather pay the high rents in the urban core to be closer to work and amenities. It's not really the "American Dream" to have a suburban lifestyle anymore.
I wish I could sue their a**es, their laziness is killing me financially.
Tiny house movement is gaining strength Some communities are allowing people to build smaller homes than they have in past due to eco movement and financial situations
But I think people don't know enough about the history of the US to understand that it wasn't until after WWII with the GI Bill which provided for govt loans for vets that the personal home became feasible for most working class Americans...
Before that time, homes were often either a family affair with multi-generational layers living in common...and even that was often a long-term rental or they were just outright rental properties...
Homesteaders built sod homes if they had no cheap available lumber from their own land but many farmers were simply sharecroppers and lived in houses owned by the person they sharecropper for--basically becoming indentured servants to those more wealthy -- just as in early days of the colonies when people paid for their trip to America by working as indentured servant for X years...
The suburban communities that sprang up after WWII were a combination of years of pent-up demand based on WWII itself and also the Depression when lives were in disarray from people lacking work and stable income...and also the huge growth in the US economy/manufacturing and other aspects like building the interstate highway system that President Eisenhower promoted as jobs growth program....
We rebuilt Europe and Japan basically after WWII was over since their factories and work force had been decimated by the war years...
Unfortunately we have spend MORE money in the Middle East because of the 2nd Gulf War and have much less to show for it at home with a strong economy or in the Middle East itself which is still mired in the Dark Ages in more ways than one...
There were laws in force to prevent profiteering in WWII--unfortunately not in the era of we are in now...
Thank lobbyists and a Congress which gets so much largess from the military/industrial complex and those who make money selling/sustaining war that anyone speaking about waste and abuse are classified as UN-American.
How @#%& generous of them. This country is a collective sorehead which is taking downward mobility poorly.
My home has appreciated 50% since I bought it 5 years ago. This means I could sell it tomorrow and walk away debt free with well over $125,000 in my pocket. Now, how much do you think you'll walk away with if you decided to move out of your rental?
What exactly did you do to deserve that $125,000? I paid up the wazoo and I got ungatz.
What exactly did you do to deserve that $125,000? I paid up the wazoo and I got ungatz.
Welcome to capitalism.
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.
