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Old 01-30-2018, 07:54 PM
 
218 posts, read 69,606 times
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OP presents a good question. House poor does imply ownership. Renters can more easily extricate themselves from an unaffordable situation - not easily, just more easily.
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Old 01-30-2018, 08:01 PM
 
11,343 posts, read 5,858,212 times
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Quote:
Originally Posted by freemkt View Post
Actually, North American housing and land use markets are very UNfree because government artificially restricts the supply and variety of housing which can be built.

Japan doesn't have a NIMBY problem like we do.


Japan has a contracting population. There are vacant homes and empty apartments everywhere. Tokyo has one in 10 homes vacant.

Citation: https://www.japantimes.co.jp/news/20.../#.WnEwv3xG26I
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Old 01-30-2018, 08:25 PM
 
847 posts, read 361,798 times
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Quote:
Originally Posted by SFSGood View Post
OP presents a good question. House poor does imply ownership. Renters can more easily extricate themselves from an unaffordable situation - not easily, just more easily.
OP is the host of a perpetual pity party.
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Old 01-30-2018, 11:30 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,114 posts, read 3,407,695 times
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Quote:
Originally Posted by freemkt View Post
I did not find that in Investorpedia.

11 million renters spend at least half their income on shelter. They're all foolish?
Can't say they are all foolish, but I don't see very many constantly complaining about it here over and over and over. It might be that they are instead working extra to make ends meet or improve their lot in life.
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Old 01-30-2018, 11:42 PM
 
Location: Silicon Valley
2,764 posts, read 1,216,199 times
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Quote:
Originally Posted by aslowdodge View Post
Can't say they are all foolish, but I don't see very many constantly complaining about it here over and over and over. It might be that they are instead working extra to make ends meet or improve their lot in life.
Or depending on the statistic source, they could be temporarily in between jobs.
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Old 01-31-2018, 01:55 AM
 
1,162 posts, read 1,268,081 times
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I’m rental poor.

I spend right at 50% of take home on rent, and it’s sucks.

So I’m totally moving somewhere cheaper, cause that’s something you can do as a renter.

I haven’t been on in a while, I’m suprized to see freemkt is still in a rough patch, it’ll get better!
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Old 01-31-2018, 04:37 AM
 
2,248 posts, read 1,391,923 times
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Quote:
Originally Posted by freemkt View Post
Actually, North American housing and land use markets are very UNfree because government artificially restricts the supply and variety of housing which can be built.

Japan doesn't have a NIMBY problem like we do.
By a pure definition of ďfreeĒ being no rules or intervention, thereís basically no free market for any good or service in any country on earth.

Let me rephrase ďitís the freestmkt rational people can choose to operate and succeed inĒ.


And this may come as a shocker...but if someoneís income is low enough to not be able to afford rent....itís likely that person canít afford the upfront....ongoing...and future costs of owning a home.
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Old 01-31-2018, 04:43 AM
 
4,739 posts, read 2,266,022 times
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Quote:
Originally Posted by MDrenter223 View Post
So Iím totally moving somewhere cheaper, cause thatís something you can do as a renter
Indeed. It makes no sense for a low wage worker with easily transportable job skills to live in a high COL area for years and years.

Quote:
Originally Posted by MDrenter223 View Post
Iím suprized to see freemkt is still in a rough patch, itíll get better!
No it won't. See above.
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Old 01-31-2018, 04:46 AM
 
16,504 posts, read 17,550,486 times
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Quote:
Originally Posted by freemkt View Post
I did not find that in Investorpedia.

11 million renters spend at least half their income on shelter. They're all foolish?

Not all. It would be absurd to think or say that. Most however run the gamut from financially decimated through financially savvy where the numbers tend to be less. Iíve met very few renters who had their stuff together. And I get to see a part of peopleís lives that most arenít privy to see.

Some invest their money and are financially savvy. Those renters are not interested I having a house at this time due to choice, work moving them a lot or simply not wanting the set roots down part of their life.
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Old 01-31-2018, 05:18 AM
 
Location: The Triad (NC)
26,871 posts, read 57,924,091 times
Reputation: 29301
Quote:
Originally Posted by freemkt View Post
I did not find that in Investorpedia.
11 million renters spend at least half their income on shelter. They're all foolish?
Every last one of them. HOW foolish might have some flexibility... but they're all well over the line.
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