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Old 01-07-2009, 09:08 PM
 
512 posts, read 1,525,014 times
Reputation: 448

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Quote:
Originally Posted by OhioNative View Post
HGTV is real estate porn!!!
LOL! There was a thread about a year ago on one of the other boards (real estate perhaps) that HGTV was hurting the real estate business. The gist of the opinions were that the shows were setting buyers expectations of home conditions, etc. to unrealistically high levels. (A sprayed, textured [popcorn] ceiling. No granite, no stainless steel appliances. Oh the horror!)

I've seen the shows over the past few years and just shake my head, though I did learned a new mortgage phrase: "80/20". The buyers on My First Place would routinely get an 80% first mortgage along with a 20% balloon with closing costs paid by the seller; not a penny of personal investment. And it is always portrayed as being very routine.

I don't think HGTV caused the mortgage crisis per se, but the shows exemplified the unrealistic consumptive culture that many people adopted.
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Old 01-08-2009, 01:14 AM
 
20,334 posts, read 18,350,332 times
Reputation: 11296
I used to laugh at the parade of imbeciles who would buy a house at an inflated price, then not be able to do the needed repair work, then lose money on carrying costs and then end up not be able to sell or not being able to even break even. Some of those were even sham episodes, some of the ones from Atlanta by an african american owned company were proved to be illegal. I wonder how the South Carolina based show company is doing, "trademark realty" was it?
Now I see that this has hurt the country big time. Banks lent money to people who had no business even asking for loans, realtors over valued prices and screwed the banks and home buyers, contractors were doing shoddy work( some of them on that show were idiots), and at the end we all got handed the bill.
I like the "trading up" show, is it still on? And the "first home" is also good as is "If these walls could talk".
A good show would be to show homes that go to foreclosure and and are abandoned or looted or vandalized, or go back 2 years later to see how the owners are doing.
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Old 01-08-2009, 06:15 AM
 
4,182 posts, read 5,911,629 times
Reputation: 1726
Quote:
Originally Posted by bigcats View Post
No, it wouldn't. There are no condos where I live.

What good would a mortgage that matches half my income do me? Your reasoning for getting a mortgage based on one of a couple's income was that one of them could lose their job, leaving them with that one other income. Following that logic, if I were to lose my job, I wouldn't be able to afford a mortgage that based on half my income either - at least after I exhausted my savings. But I wouldn't be any more able to afford rent in that scenario, so there's not much point dwelling on that.

Like I said, I'm doing fine. I'm a fine, responsible, upstanding citizen in no danger of foreclosure



??!!?

You're missing the point. The reason you base your mortgage on half your income when you are a solo income earner is to enable you to survive being downsized to a lower paying job. If your wages are cut in half, then you'd still be okay with the mortgage. This is equivalent to the situation where 1 member of a couple of income earners loses her/his job. The idea is to have that added margin of safety provided by the extra job (or in your case, the other half of your annual income).

If as a solo earner you totally lose your job and can't find a replacement, then you are obviously screwed after you run out of your savings. But then again, the dual income earners would not be better off than you if neither of them could find jobs.

If condos are non-existent in your locale, then obviously your recourse is to rent rather than to buy a house that is not within your reach. Or save up for a big downpayment (say 50% of purchase price).

These are just rules of thumb which should prevent people from overspending.
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Old 01-08-2009, 08:11 AM
 
2,197 posts, read 6,814,842 times
Reputation: 1687
Quote:
Originally Posted by ndfmnlf View Post
And the big picture is.....people can rip their otherwise functional oak cabinets as long as they can afford them and don't inconvenience other people? That as long as they can afford to be wasteful, they should be so? Isn't this what you said earlier? But didn't you also acknowledge that people have in fact been fiscally irresponsible to the point that our economy is teetering on the brink of collapse?

Do you even realize that you have successfully contradicted yourself?
OK, I stated it in plain English, but let me dumb it down some more for you. The big picture is that the media isn't your mother, your boss, your dictator or God. People make their own decisions... and live with the consequences. TV shows don't force you to do anything-- including watch them.

And, yes, if I want to be wasteful with my own money, I will, in any manner I choose. (Keywords: I. Choose.) And if you don't like it, go earn some of your own, then you can spend it however you choose. (Keywords: You. Choose.)

I was giving people credit for having a smidgen of sense. But, hey, congrats. Your posts have proved me wrong there.

Last edited by Waterlily; 01-08-2009 at 09:59 PM.. Reason: no name calling
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Old 01-08-2009, 08:37 AM
 
4,182 posts, read 5,911,629 times
Reputation: 1726
[quote]
Quote:
Originally Posted by goodbyehollywood View Post
OK, I stated it in plain English, but let me dumb it down some more for you. The big picture is that the media isn't your mother, your boss, your dictator or God. People make their own decisions... and live with the consequences. TV shows don't force you to do anything-- including pay attention to them.
You're putting words in my mouth. Show me where I said that the media is "your boss, your mother, or your God". What I said was that the HGTV show depicted wasteful practices, but I never said that HGTV caused people to behave wastefully. In fact, nowhere in my posts could you infer causality. HGTV may very well just be depicting what people already do. Your English comprehension skills are obviously deficient. Appparently, nuance is not your cup of tea.

Look, HGTV is free to show what it wants to show, people are free to watch it, but people are also free to critique the show. This is what this thread is about. It's a review of HGTV....no different from a review of another TV show or movie. But nobody here is advocating censoring HGTV. Are you saying people here can no longer comment about HGTV? You nuts?

Quote:
And, yes, if I want to be wasteful with my own money, I will, in any manner I choose. (Keywords: I. Choose.) And if you don't like it, go earn some of your own, then you can spend it however you choose. (Keywords: You. Choose.)
You may be wasteful with your money, but then you should also assume all the consequences of your actions and not pass them on to others. If you waste money on things you can't afford, feel free to do so, but don't let others pay the bill for you.

And thanks but no thanks on your "advice" on earning money. I'm already in the 35% tax bracket, so I can very ably take care of myself.
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Old 01-08-2009, 09:34 AM
 
Location: Stuck on the East Coast, hoping to head West
4,101 posts, read 9,702,986 times
Reputation: 8397
Quote:
Originally Posted by Nancy-NJ-NY-ME? View Post
LOL! There was a thread about a year ago on one of the other boards (real estate perhaps) that HGTV was hurting the real estate business. The gist of the opinions were that the shows were setting buyers expectations of home conditions, etc. to unrealistically high levels. (A sprayed, textured [popcorn] ceiling. No granite, no stainless steel appliances. Oh the horror!)

I've seen the shows over the past few years and just shake my head, though I did learned a new mortgage phrase: "80/20". The buyers on My First Place would routinely get an 80% first mortgage along with a 20% balloon with closing costs paid by the seller; not a penny of personal investment. And it is always portrayed as being very routine.

I don't think HGTV caused the mortgage crisis per se, but the shows exemplified the unrealistic consumptive culture that many people adopted.
I agree. The other thing is that HGTV mostly de-emphasized the more important things about buying house--like buying what you can afford, going for location/schools/overall condition of the house--and instead shifted buyer focus on cosmetics like color of the appliances, etc. I absolutely think it gave inexperienced buyers unrealistic expectations. I saw this in my neighborhood. I actually saw great houses with new heating units/roofs/siding get passed over for homes that were needed all of these things and more, but had new carpet and stainless appliances.

Lately, though HGTV has had another show (I can't remember the name of it) where homeowners are desperate for help with maintenance issues. I actually like that show--seems more realistic. One show had a woman who bought a flipped house that looked beautiful, but had many hidden expensive plumbing/electrical issues.
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Old 01-08-2009, 10:00 AM
 
Location: In My Own Little World. . .
3,238 posts, read 8,086,346 times
Reputation: 1601
Quote:
Originally Posted by Nancy-NJ-NY-ME? View Post
LOL! There was a thread about a year ago on one of the other boards (real estate perhaps) that HGTV was hurting the real estate business. The gist of the opinions were that the shows were setting buyers expectations of home conditions, etc. to unrealistically high levels. (A sprayed, textured [popcorn] ceiling. No granite, no stainless steel appliances. Oh the horror!)

I've seen the shows over the past few years and just shake my head, though I did learned a new mortgage phrase: "80/20". The buyers on My First Place would routinely get an 80% first mortgage along with a 20% balloon with closing costs paid by the seller; not a penny of personal investment. And it is always portrayed as being very routine.

I don't think HGTV caused the mortgage crisis per se, but the shows exemplified the unrealistic consumptive culture that many people adopted.
I agree 100%. Of course no TV show CAUSES things to happen, but they do raise expectations when the view thinks "everyone" has granite countertops and SS appliances. And thinks if I don't do that I'll never sell my house! Well, the news is we sold our house in NJ last April (when things were REALLY slow in NJ) without SS appliances and no granite countertops Okay, we didn't get top dollar, either, but considering the fact that we had already moved out of state and were paying two mortgages, we were very glad to get rid of it. And because of the way the market was at the time, there certainly was no guarantee that the extra expense would have made a difference in the price we sold it for.
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Old 01-08-2009, 10:01 AM
 
12,461 posts, read 18,049,468 times
Reputation: 6451
I got rid of cable so I have not seen HGTV in a while. Nonetheless, when I had it, HGTV was one of my guilty pleasures. House Hunters was amusing and fun, but I never took it as gospel or a source of reality- it is staged for the most part. I liked seeing the different styles and so forth.

Some of the other shows were cool. Small space, Big style, Homes Across America, What's with that House, etc. They're just fun.

I bought a house cuz I needed a place to live. HGTV had nothing to do with it.
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Old 01-08-2009, 05:48 PM
 
Location: Keller, TX
5,670 posts, read 5,369,380 times
Reputation: 4083
Quote:
Originally Posted by bande1102 View Post
Lately, though HGTV has had another show (I can't remember the name of it) where homeowners are desperate for help with maintenance issues. I actually like that show--seems more realistic. One show had a woman who bought a flipped house that looked beautiful, but had many hidden expensive plumbing/electrical issues.
Hope For Your Home.
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Old 01-08-2009, 07:45 PM
 
Location: CA
830 posts, read 2,429,585 times
Reputation: 1011
Quote:
If condos are non-existent in your locale, then obviously your recourse is to rent rather than to buy a house that is not within your reach. Or save up for a big downpayment (say 50% of purchase price).
But what I'm saying is that the house IS within my reach. It isn't a financial stretch for me, even if I don't meet your guidelines. Maybe I'm better with money than you are Would it be a financial hardship if I lost my job? Sure. But I could not afford rent then either, so I'd be homeless in either case. It would not be advantageous in that situation to be a renter. Hey, I can even afford cable now - before I bought my house, I never watched HGTV because I didn't have it. I was saving for my downpayment with that money.

Anyway, back to the original topic as far as HGTV goes, yes, the expectations of what a house should look like / be worth / etc. are unrealistic. I expect that very few people in my neighborhood have granite countertops, and rejecting a house because it doesn't have stainless steel appliances or it has pink walls is just silly. The first time I saw one of those shows I thought "Jeez, I made it easy on my real estate agent" - I walked in, basically said 'This is fine', and took it. I can't imagine why a single person would need more than 800 square feet or how a couple could have "outgrown a 1200 square foot house" and need to upgrade, but whatever. I still watch, get some ideas, ignore or laugh at other things. I would expect most people would do the same, and if they don't then HGTV isn't the one to blame.
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