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In Hartford renting is cheaper, so is boston, new york, north carolina, maryland, dc, new jersey, Delaware.
You don't seem to have any numbers to back up your arguments.
I didn't need to add them again... did I? The reference was already made.
Quote:
Originally Posted by Post 360
Oh lookie, here's a cite:
According to real estate web site Trulia, buying was cheaper than renting in 74% of the country's 50 largest cities in July. In just 12% of the cities, including New York, Seattle and San Francisco, renting was cheaper. In the remaining 14% of cities, renting was less expensive but close to the cost of buying.
that depend so thne house. You can alos buy with two roomates i many areas ;sharig the cost.But always remmebr rent last a lifetime and i the ned is much more costly in elder years.Rents now are the fast riaisng housing and with multi occupancy you put up with what they rent to plus rely on the rothers for your safety besides who you rent from. Then there is always the multi movig cost.Nothnks;been there did that.
I completely refute that premise but am quite done pushing the point.
Quote:
If your single you can live with 2 other roommates
and beat the pants off the cost of buying a whole house.
Or... you could just as well buy the house, take in those two roommates...
and have THEM pay the mortgage for you. (I have some experience with this approach btw)
Quote:
You posted a link to "Its a Wonderful Life"
Thanks I really liked that movie but this doesn't demonstrate that buying is cheaper than renting.
Do you have this much difficulty following a discussion outside of the 'net as well?
Or is it just selective observation? Mathjak made the same error. Curious
I'm 31 and have 130% of one year's salary saved up in my 401k. I hope to retire in 29 years. But I know it will be an uphill battle.
Why? Because I will probably only see social security, if it sticks around, after I'm 70, due to extended lifespans (genetically, all my grandparents died in their 90s). Further, while right now I'm paid into the company pension, I highly doubt it will be around by the time I retire.
So, while I think I've done "OK" thus far, I know I need to do more. Namely:
Ensure I max out the 401k contribution match
Ensure I max out the Roth IRA limits
Diversify remaining assets to commodities (like gold) and debt (like bonds, etc)
Invest in life insurance for myself that is not term life (i.e. universal, something that is more like an investment)
Have kids
That last one is basically because having a rich, full life is part of being able to retire, and having kids is part of a natural cycle. And best to do it while I'm still young-ish and so is the wife. Don't want to be an old coot while my youngest is still in college.
So, while I think I've done "OK" thus far, I know I need to do more. Namely:
Ensure I max out the 401k contribution match Yes
Ensure I max out the Roth IRA limits Yes
Diversify remaining assets Yes to commodities (like gold) NO and debt NO (like bonds, etc)
Invest in life insurance for myself NO that is not term life NO (i.e. universal, something that is more like an investment)
The 401K and IRA thoughts are fine.
Add'l investing should till be for GROWTH until you're 60 (Index funds are fine)
You are FAR more likely to need DISABILITY insurance than life insurance.
A small TERM policy is plenty and prudent (pay off mortgage and get wife over the first year)
The last thing too rarely mentioned is to invest in yourself too:
Continuing Education in your current field at least... but also expand beyond that.
Regularly learn something useful and in depth about whatever interests you.
Last edited by MrRational; 12-09-2012 at 10:48 PM..
We have that now... most commonly it is called trailer parks... some you own the space and others you rent.
Also... cities across the country from SF to New York are experimenting with micro units... under 400 square feet with some about 200.
Washington State has a test program to build micro homes and they had a detailed report on the news last night...
I to could be in your area housing is can be so inexpensive... like in the Detroit area... there is little incentive to make changes.
Trailers depreciate rapidly, houses tend to appreciate over time. Trailers make little long-term economic sense, especially for those paying (gack) lot rent.
If the micro homes were built in Seattle metro, they're probably ridiculously overpriced. One of the major national homebuilders (D R Horton I think) did a micro condo project in Portland and those were ridiculously overpriced.
Trailers depreciate rapidly, houses tend to appreciate over time. Trailers make little long-term economic sense, especially for those paying (gack) lot rent.
If the micro homes were built in Seattle metro, they're probably ridiculously overpriced. One of the major national homebuilders (D R Horton I think) did a micro condo project in Portland and those were ridiculously overpriced.
Those who can't buy don't call renting a lifestyle choice.
Well there's always family... you can be 26 and still covered under a parents health plan so why not room and board?
Quite a few I know bought homes in the last decade and a lot said they will never own a home again...
There are so many foreclosures here... funny thing is most that walked away also were serial refi home owners...
The guy across the street would have been fine if he hadn't refinance 4 times in 5 years taking money out each time... new cabin cruiser, new cars... even a new one for his 16 year old daughter...
Everything came crashing down when he hit the wall and couldn't refi his way out of it...
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