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Old 07-10-2009, 05:28 AM
 
Location: Beautiful Pelham Parkway,The Bronx
6,647 posts, read 11,611,125 times
Reputation: 4241

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I think making the commitment to ownership works better for most people because it becomes a sort of forced savings.It is all well and good to say that renting can work out better as long as a large percentage of the theoretical savings is invested in the stock market but it doesn't seem to work out that way for most folks.Somehow people manage to pay their mortgages,even if it's a struggle,once the commitment has been made.Most don't have the discipline to save or invest otherwise.It is just too easy to spend it on other things like going out to dinner all the time or going on more frequent vacations.
mathjak sounds like a disciplined investor but most people are either not wired that way or don't have luxury of being investors.
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Old 07-10-2009, 07:16 AM
Status: "I LOOOVE COLORS" (set 11 days ago)
 
30,246 posts, read 27,336,752 times
Reputation: 17604
Quote:
Originally Posted by bluedog2 View Post
I think making the commitment to ownership works better for most people because it becomes a sort of forced savings.It is all well and good to say that renting can work out better as long as a large percentage of the theoretical savings is invested in the stock market but it doesn't seem to work out that way for most folks.Somehow people manage to pay their mortgages,even if it's a struggle,once the commitment has been made.Most don't have the discipline to save or invest otherwise.It is just too easy to spend it on other things like going out to dinner all the time or going on more frequent vacations.
mathjak sounds like a disciplined investor but most people are either not wired that way or don't have luxury of being investors.
AND THAT IS SOOOOOOOOO TRUE..... thats why people have that concept that only homeowners win..... they either dont realize they need to invest elsewhere if they rent or they dont have the discipline...... not having the money is a different issue because then they dont have the option of buying


sorry blue dog it wouldnt let me give you anymore rep points
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Old 07-10-2009, 10:30 AM
 
328 posts, read 555,082 times
Reputation: 193
Quote:
Originally Posted by bluedog2 View Post
I think making the commitment to ownership works better for most people because it becomes a sort of forced savings.It is all well and good to say that renting can work out better as long as a large percentage of the theoretical savings is invested in the stock market but it doesn't seem to work out that way for most folks.Somehow people manage to pay their mortgages,even if it's a struggle,once the commitment has been made.Most don't have the discipline to save or invest otherwise.It is just too easy to spend it on other things like going out to dinner all the time or going on more frequent vacations.
mathjak sounds like a disciplined investor but most people are either not wired that way or don't have luxury of being investors.
Excellent!
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Old 07-10-2009, 02:18 PM
 
6,046 posts, read 7,424,085 times
Reputation: 1866
Quote:
Originally Posted by Forest_Hills_Daddy View Post
Yes! If they don't use the public school system. Nobody should be forced to pay for school if they don't use it.
I agree. Come on, I'm 27 & single, no kids...why in the world should I put my hard-earned money into the school system? I don't care about the schools and what the kids are learning b/c it doesn't affect me at this point in my life. I have friends who are teachers and I still vote no for the budgets.
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Old 07-10-2009, 02:19 PM
 
Location: Manhattan
155 posts, read 345,236 times
Reputation: 127
Quote:
Originally Posted by Jdawg8181 View Post
I agree. Come on, I'm 27 & single, no kids...why in the world should I put my hard-earned money into the school system? I don't care about the schools and what the kids are learning b/c it doesn't affect me at this point in my life. I have friends who are teachers and I still vote no for the budgets.
Some people just don't get it.
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Old 07-10-2009, 02:20 PM
 
6,046 posts, read 7,424,085 times
Reputation: 1866
Quote:
Originally Posted by NewYorkBorn View Post
You are right this is the reason I left NYC 2 years ago. Was tired of the cold winters, expensive rents for shoe box size apartments located in mediocre neighborhoods, quality of life was not good. Also knew that I would spend the rest of my life renting apartments if I stayed there and homeownership became important to me. My mother, grandmother and brother are all still living there in Brooklyn and the Bronx.........everytime they visit me here in South Carolina they never want to go home.

Believe me you get soooooo much more for your money living in other states. I now own a 4 bedroom, 2 1/2 bath, 2 car garage home that sits in a golf course community with in ground pool.........purchased for under $180k! Was born and raised in Brooklyn so NYC will always be my home but it is better to visit then to live there.
I disagree about the quality of life being better...yeah you may get more for your money, I'm not denying that...but the amount of wealth and abundance of things to do up here is astronomical. Can't get that in SC.
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Old 07-10-2009, 02:21 PM
 
6,046 posts, read 7,424,085 times
Reputation: 1866
Quote:
Originally Posted by homeowner35 View Post
It will be difficult but it can be accomplished with discipline and realistic expectations. NYC is really designed for two income households. Many single people are purchasing studios believe it or not. It is the new one bedroom.
exactly. That's what I own. I fear if I don't get married, I'll be stuck in studio-apartment-land forever.
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Old 07-10-2009, 03:08 PM
Status: "I LOOOVE COLORS" (set 11 days ago)
 
30,246 posts, read 27,336,752 times
Reputation: 17604
Its like i tell my kids, our financial lives are like fighting a war...we have all these different fronts going on at the same time...we need money to live on, money for a house, money for the future, money for retirement

pulling from anyone is like pulling from 1 front to fight on another...you may win a battle but ultimetly you will loose the war

the good news is money is like water and will always seek its own level...

the bad news is that level always seems to leave to much month at the end of the money....

sooooo since very few of us make it thru the month no matter how much we have to spend and thats with 100% of your money and if you cant make it on 100% of your money then you cant make it on 90% either so you might just as well save 10% for you and invest it..........
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Old 07-10-2009, 03:16 PM
Status: "I LOOOVE COLORS" (set 11 days ago)
 
30,246 posts, read 27,336,752 times
Reputation: 17604
Quote:
Originally Posted by Jdawg8181 View Post
I agree. Come on, I'm 27 & single, no kids...why in the world should I put my hard-earned money into the school system? I don't care about the schools and what the kids are learning b/c it doesn't affect me at this point in my life. I have friends who are teachers and I still vote no for the budgets.

im still trying to get cable tv to let me only pay for the shows i watch........ so far no luck... lol
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Old 07-10-2009, 04:34 PM
 
346 posts, read 813,502 times
Reputation: 203
Quote:
Originally Posted by Jdawg8181 View Post
I agree. Come on, I'm 27 & single, no kids...why in the world should I put my hard-earned money into the school system? I don't care about the schools and what the kids are learning b/c it doesn't affect me at this point in my life. I have friends who are teachers and I still vote no for the budgets.
And you'd rather have the kids be uneducated, break into your apartment and steal your computer instead of use 15 bucks of your tax money (which at your age you probably don't contribute to anyway since the school taxes are only taken out of property taxes, and you probably don't own property) to give them a shot at life?

This city needs to shed some of these narcissistic people.
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