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View Poll Results: Just moved here
Just moved here 7 36.84%
Don't want to own a house 5 26.32%
I live at home 1 5.26%
Can't afford a neighborhood that meets my standards 4 21.05%
my apartment complex is the shizzle 3 15.79%
other *specify* 5 26.32%
Multiple Choice Poll. Voters: 19. You may not vote on this poll

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Old 07-25-2013, 12:42 PM
 
Location: Austin, TX
16,787 posts, read 48,839,394 times
Reputation: 9477

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For those who can benefit financially from owning a home, you still have to stay in that home for an extended period of time before the potential savings acrue. See the interactive chart here to determine how long that period of time is for you, depending on what your costs are. http://www.nytimes.com/interactive/b...2&oref=slogin&

Using my rental house as an example, for my renters it would take 3 years before they started to benefit financially from buying the house.

 
Old 07-25-2013, 01:54 PM
 
35,095 posts, read 50,980,354 times
Reputation: 62660
Quote:
Originally Posted by Kosmonaut View Post
LOts of renters in the town. Why dont' you people buy a house?

Why do you care? There are people that don't want to own property and it really is none of your business why.
 
Old 07-25-2013, 02:28 PM
 
Location: North Austin
217 posts, read 326,476 times
Reputation: 144
Quote:
Originally Posted by CSD610 View Post
Why do you care? There are people that don't want to own property and it really is none of your business why.
Then those people don't have to answer. I don't see the issue here.
 
Old 07-25-2013, 02:57 PM
 
404 posts, read 709,316 times
Reputation: 683
Quote:
Originally Posted by Idlewile View Post
Honestly, homeownership here is more expensive than what the media makes it out to be, especially for families wanting to live in Austin proper. Prop taxes, high water and cooling bills, regular pest maintenance, just to name a few. Homeowner's insurance too.

THIS. and name one asset where you end up paying nearly twice the value after all is said and done.

Mortgages make people into debt slaves
 
Old 07-25-2013, 03:12 PM
 
Location: North Austin
217 posts, read 326,476 times
Reputation: 144
Quote:
Originally Posted by Shredding_Gnar78 View Post
THIS. and name one asset where you end up paying nearly twice the value after all is said and done.

Mortgages make people into debt slaves
People don't need to take out mortgages, and if they do - they should take out 10 year notes, maybe 15 year notes. The problem is that everyone is playing the *30-year mortgage game* to bump themselves up into another social bracket. No one else buys houses on a 10 or 15, so you'll end up being the richest person in the neighborhood if you do. The average person's ego won't allow themselves to take out 15 year notes and pay off houses. It's all about the social climbing and the rat race.
 
Old 07-25-2013, 04:14 PM
 
Location: Austin, TX
15,237 posts, read 35,431,654 times
Reputation: 8572
Actually, I know several people that either are planning on a 15 year note or have recently refi'd to a 15 yr note. The interest rates have made it really affordable. We refi' back in 2002-3 time frame (to what was an unheard low rate of 4 5/8 at the time) and so now we have a nice little 4.5 years to go. Ofc, the taxes don't go away, but it will be a nice 'income boost' in a few years. The oldest will be 11 then, so we can hopefully save a bit for college or sock some more away for retirement then.
 
Old 07-27-2013, 08:24 AM
 
3,423 posts, read 4,415,195 times
Reputation: 3632
Quote:
Originally Posted by Kosmonaut View Post
LOts of renters in the town. Why dont' you people buy a house?
How about because so much of the housing is undesirable due to being burdened by an involuntary membership HOA?

There are lots of reasons to not purchase a house in the Austin area. Several have been posted. But then why do you ask?
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