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There really shouldn't be any debate. Whether you own or rent, it is up to you. YOU know what's best for you, and no one should really encourage someone to do something that they don't think is good for them. You've had way too many people think that homeownership is something that they had to do when, in fact, they would have been better off renting. Homeownership isn't really for the faint of heart. There's no shame in saying that you're not up for repairs and other maintenance, you don't want to be bound to one neighborhood for years, you like your freedom. As a result, we've had way too many people buying mass produced homes only to not perform homeowner maintenance, buy homes they couldn't really afford, regret the neighborhood they purchased in..etc. Renting has obvious benefits. For me, after owning once, it would be hard for me to go back to being a renter. Like I said, it's in my blood now. I had a HORRIBLE rental experience when I was 19-20 (which included me threatening legal action to get my deposit back) and that was the catalyst for me to ownership. I had a wonderful rental experience when I moved to Texas after I had sold my condo, but again -- since I had been an owner before, it was hard for me to accept that I couldn't paint the walls the colors that I wanted, or use my own pest contol company, or do any sort of modifications to the backyard. Everyone has their reasons for what they want to do..neither is "smarter" than the other.
It seems some complainers about home ownership just can't afford to buy a home themselves. Otherwise, why complain about high real estate prices if you don't care about purchasing a home anyway. They want the prices to drop so they can buy, and people who can afford to buy now are being attacked, or told they are stupid. Just say you can't afford it and you are upset, no need to make a big issue about evil homeowners.
I think for many, this is behind the mentality, they either can't afford it or are afraid of the commitment so they get all hostile toward those who can do it. Then talk about their cool lifestyles as renters and how we owners are missing out on all the fab perks of having less responsibility.
It starts with the concept of downsizing "why do you NEED all that room?", then you are supposed to toss your possessions "too much STUFF", then you move to a smaller house ("ooh yard work") then a condo, then you should just give up on owning anything, and everybody just lives in little pods attached to ipads and cell phones. As long as we can walk to the store! Not have to drive a scary car! and travel to some third world country for the global experience and come back with a ten syllable disease, we are really living.
What are you talking about??????
Are you telling us that people who refused to buy during 2004-2007 and "complained" that housings was in a bubble were not smart?????
Many people couldn't afford to buy in 2004-2007 and saved themselves with renting financially.
Any renter who didn't buy during that time is much better off financially and mentally then the ones who did buy, especially in bubble areas of the country.
There is a time to buy and not to buy.
Today is a time not to buy and back off from the market that has been dives by the speculators only.
There will be a time to buy again when the home prices are cut in half.
The true bottom in housing will be when no one is interested in buying and owning a house. When interest rates are much much higher. When you'd don't have taxi drivers, talking about house flipping, when no one cares about housing. That will happen when interest rated go much higher from here.
You'd don't buy in the speculators market with low manipulated interest rates and inflated house prices.
In the west we had some best weather in generation and demand is down.
Where are the buyers???????
You can't blame the weather in the west..lol
Why?????
Because house prices have been inflated to the oblivion!!!!
Unless you live in Coastal California or the NYC area, I don't know what you're talking about.
U.S. salaries are some of the highest in the world, interest rates are much lower than in other countries, we have the mortgage and property tax deduction (unknown in rest of the world) yet typical U.S. real estate is much cheaper than in Canada, Western Europe or Australia.
My relatives live in Germany, where median income is about 30% lower and average home prices are nearly twice as high. Oh, and banks want 50% down and there's no mortgage interest deduction.
Here in the U.S., Joe and Mary middle class are pulling six figures if they're both working, and the average suburb has tons of nice 4-bedroom homes at 200k, which you can finance at under 4%. Not seeing the big problem here.
Most people who run into problems paying their mortgage did stupid things. They got balloon mortgages at the height of the market peak, or waste money on cars and other stupid stuff. Not blaming everyone, because stuff happens in life, but it really isn't that hard for an average American family to afford an average home.
Unless you live in Coastal California or the NYC area, I don't know what you're talking about.
U.S. salaries are some of the highest in the world, interest rates are much lower than in other countries, we have the mortgage and property tax deduction (unknown in rest of the world) yet typical U.S. real estate is much cheaper than in Canada, Western Europe or Australia.
My relatives live in Germany, where median income is about 30% lower and average home prices are nearly twice as high. Oh, and banks want 50% down and there's no mortgage interest deduction.
Here in the U.S., Joe and Mary middle class are pulling six figures if they're both working, and the average suburb has tons of nice 4-bedroom homes at 200k, which you can finance at under 4%. Not seeing the big problem here.
Most people who run into problems paying their mortgage did stupid things. They got balloon mortgages at the height of the market peak, or waste money on cars and other stupid stuff. Not blaming everyone, because stuff happens in life, but it really isn't that hard for an average American family to afford an average home.
You must be kidding me now right?
What planet do you live.....Orange Country?????
Most Americans are living paycheck to paycheck today.
Middle class is eroding and dropping into the powerty levels.
Working Americans didn't see wage increase in almost 30 years while house prices have been inflated 300% and up in some areas of the country.
How cane anyone say today that house prices are affordable?????
I guess the same people who said house prices are affordable back in 2003-2007 are here to tell us that house prices are affordable today as well after in some areas prices are higher then back in 2003-2007.
Do you people follow the news. Why mortgage application rate has tumbled to all time low if housing is so affordable?
Why demand has been down since June of last year if housing is so affordable?
Wether has been great in California this winter, how come demand is down and supply is up????
In Germany people don't care about owning a house, different mentality. Germans rent and they are happy, they can care less about housing and responsible German government would never allow extreme housing manipulation like in US.
Germany has REAL Economy...strong production...strong healthy economy.
What do Americans have????
Low paying service jobs, and all new part time jobs that have been created since 2008.
This so called recovery is ilusion.
What are you talking about??????
Are you telling us that people who refused to buy during 2004-2007 and "complained" that housings was in a bubble were not smart?????
Many people couldn't afford to buy in 2004-2007 and saved themselves with renting financially.
Any renter who didn't buy during that time is much better off financially and mentally then the ones who did buy, especially in bubble areas of the country.
There is a time to buy and not to buy.
Today is a time not to buy and back off from the market that has been dives by the speculators only.
There will be a time to buy again when the home prices are cut in half.
The true bottom in housing will be when no one is interested in buying and owning a house. When interest rates are much much higher. When you'd don't have taxi drivers, talking about house flipping, when no one cares about housing. That will happen when interest rated go much higher from here.
You'd don't buy in the speculators market with low manipulated interest rates and inflated house prices.
In the west we had some best weather in generation and demand is down.
Where are the buyers???????
You can't blame the weather in the west..lol
Some people just buy a house because they want to live there. You don't buy any property that you cannot afford. I would be willing to lose thousands before I would ever rent again.
Many people now aren't even thinking of buying, ever, because they would rather rent. Which is fine, to each his own, but plenty will still want to buy at some point. To an average buyer, a house should be a home, and flippers and investors know the risk they take. There will not be a time when no one cares about housing, people get tired of renting at some point and find that walking to the store isn't all it's cracked up to be when you get mugged enough times and your neighbor has drilled a peep hole in the wall.
Why do you care about the market and interest rates? Why do you care if people buy homes to fix up and sell, at their own risk?
You must be kidding me now right?
What planet do you live.....Orange Country?????
Most Americans are living paycheck to paycheck today.
Middle class is eroding and dropping into the powerty levels.
Working Americans didn't see wage increase in almost 30 years while house prices have been inflated 300% and up in some areas of the country.
How cane anyone say today that house prices are affordable?????
I guess the same people who said house prices are affordable back in 2003-2007 are here to tell us that house prices are affordable today as well after in some areas prices are higher then back in 2003-2007.
Do you people follow the news. Why mortgage application rate has tumbled to all time low if housing is so affordable?
Why demand has been down since June of last year if housing is so affordable?
Wether has been great in California this winter, how come demand is down and supply is up????
In Germany people don't care about owning a house, different mentality. Germans rent and they are happy, they can care less about housing and responsible German government would never allow extreme housing manipulation like in US.
Germany has REAL Economy...strong production...strong healthy economy.
What do Americans have????
Low paying service jobs, and all new part time jobs that have been created since 2008.
This so called recovery is ilusion.
If they move to the US they realize they do want to own a home and property.
You have no business telling anyone what should make them happy. Rent if you want, be happy. If someone cares about their home, where they spend their time and life with their family, that is a pretty important thing. I'm not sure why someone should not care about that.
You must be kidding me now right?
What planet do you live.....Orange Country?????
.
Actually, yes.
Quote:
Originally Posted by Halopm
Most Americans are living paycheck to paycheck today.
Then they shouldn't be buying a home. It isn't for everyone.
Quote:
Originally Posted by Halopm
Middle class is eroding and dropping into the powerty levels.
.
Nope. Median household income is above 50k and growing, which is the highest in the world for a major nation. Obviously mean household income is much higher.
Quote:
Originally Posted by Halopm
Working Americans didn't see wage increase in almost 30 years while house prices have been inflated 300% and up in some areas of the country.
.
None of this is true.
Quote:
Originally Posted by Halopm
How cane anyone say today that house prices are affordable?????
.
Because salaries in the U.S. are (relatively) high and home prices in the U.S. are (relatively) low. Don't complain to me if you can't afford a home, when the median priced home in the U.S. is half that of Europe, yet salaries in the U.S. are 50% higher. Stop buying three SUVs, five IPads/IPhones, and all that crap. Cut the vacations and the 3,000 square foot house for two people.
Quote:
Originally Posted by Halopm
In Germany people don't care about owning a house, different mentality. Germans rent and they are happy, they can care less about housing and responsible German government would never allow extreme housing manipulation like in US.
.
Wrong. Nearly half of Germans own their home.
Quote:
Originally Posted by Halopm
Germany has REAL Economy...strong production...strong healthy economy.
What do Americans have????
.
Well, for one, higher salaries than Germans, and lower taxes. No $10 gas in the U.S. either.
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