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Old 06-10-2007, 02:38 PM
SKB
 
Location: WPB
900 posts, read 3,491,133 times
Reputation: 331

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Quote:
Originally Posted by cariad View Post
You can't change the assumption to prove a point, all you are doing is twisting it.

I can't buy that house now for 400k, the seller is asking 1.2 mil. But I do want to live in a 1.2 mil house, not buy a lesser house that is selling for 400K. Solution-rent the biggie and invest the rest.

I have not attacked your position on buying now, only tried to refute your claim that renters are throwing their money away and don't appreciate my reasoning as being labeled as petty jealousy, just because I disagree.

Your mention of 3-6% appreciation per year on real estate is in line with what salaries would historically support over the years. The salary of the average middle class worker looking to buy anytime between now and the next however many years cannot support 20-50% gains over short periods of time. Many of those trying to do so without understanding all the financial ramifications are mortaging and risking their future, not just the house.
cariad,

Brilliantly said!!!!!!

 
Old 06-10-2007, 04:13 PM
 
3,269 posts, read 9,914,732 times
Reputation: 2025
Quote:
Originally Posted by kort677 View Post
I can when the original assumption is contrived, they contrive facts to suit their examples and so did I
[quote=firemed;861108]
Quote:
Originally Posted by kort677 View Post
no the point that was trying to be floated was that there are guys who are stuck in their homes and will bail at any opportunity and there certainly are people in that boat and sure you might get a cheap rental, but unless your predicted crash happens, and I don't think it will be as hard as some people who post here do, in a few years when things do change and they will, you might be left on the sidelines again and that guy who you rent from will have had you paying his costs over the bad times and he will reap the benefits.
YMMV
[quote=cariad;861936]You can't change the assumption to prove a point, all you are doing is twisting it.

QUOTE]


My original assumption was not contrived, it was fact. Buy a house for 1.2 mil or rent it for 3,500 a month was the choice. For some reason you have become incredibly defensive, like you own the house. I never implied the owner was stuck in it, I said, and I will say again, I DON'T CARE what he paid for it or what his payments are. It is totally irrelevant to me. My point was, simply, that given a choice of buying or renting THIS HOUSE, renting is the obvious choice.

Last edited by Obrero; 06-10-2007 at 04:15 PM.. Reason: typo
 
Old 06-10-2007, 04:14 PM
 
3,269 posts, read 9,914,732 times
Reputation: 2025
Quote:
Originally Posted by cariad View Post
You can't change the assumption to prove a point, all you are doing is twisting it.

I can't buy that house now for 400k, the seller is asking 1.2 mil. But I do want to live in a 1.2 mil house, not buy a lesser house that is selling for 400K. Solution-rent the biggie and invest the rest.

I have not attacked your position on buying now, only tried to refute your claim that renters are throwing their money away and don't appreciate my reasoning as being labeled as petty jealousy, just because I disagree.

Your mention of 3-6% appreciation per year on real estate is in line with what salaries would historically support over the years. The salary of the average middle class worker looking to buy anytime between now and the next however many years cannot support 20-50% gains over short periods of time. Many of those trying to do so without understanding all the financial ramifications are mortaging and risking their future, not just the house.

Very nicely put.
 
Old 06-10-2007, 04:38 PM
 
Location: 32082/07716/10028
1,346 posts, read 2,191,663 times
Reputation: 167
[quote=UKOK;862716][quote=firemed;861108]

Quote:
Originally Posted by cariad View Post
You can't change the assumption to prove a point, all you are doing is twisting it.

QUOTE]


My original assumption was not contrived, it was fact. Buy a house for 1.2 mil or rent it for 3,500 a month was the choice. For some reason you have become incredibly defensive, like you own the house. I never implied the owner was stuck in it, I said, and I will say again, I DON'T CARE what he paid for it or what his payments are. It is totally irrelevant to me. My point was, simply, that given a choice of buying or renting THIS HOUSE, renting is the obvious choice.
maybe in your area you can rent a 1.2 million house at that level, but that isn't the case everywhere in FLA.
If it works for you go for it, may all your dreams come true
 
Old 06-10-2007, 05:11 PM
 
165 posts, read 655,690 times
Reputation: 27
By the time this whole thing is over .The rates will be up and no one will be moving.
 
Old 06-10-2007, 06:28 PM
SKB
 
Location: WPB
900 posts, read 3,491,133 times
Reputation: 331
The rates will not have an impact on the people like me who are waiting on the sidelines with cash.
 
Old 06-10-2007, 06:33 PM
 
3,269 posts, read 9,914,732 times
Reputation: 2025
Quote:
Originally Posted by kort677 View Post

maybe in your area you can rent a 1.2 million house at that level, but that isn't the case everywhere in FLA.
If it works for you go for it, may all your dreams come true
Like I said, it was a house in Sarasota, not a house all over Florida.

Last edited by Yac; 06-12-2007 at 07:19 AM.. Reason: quote fixed
 
Old 06-10-2007, 07:00 PM
 
Location: Missouri
109 posts, read 391,905 times
Reputation: 29
Quote:
Originally Posted by SKB View Post
The rates will not have an impact on the people like me who are waiting on the sidelines with cash.

That makes two of us not worried about rates. Can we call two a consensus....
 
Old 06-10-2007, 07:22 PM
 
48 posts, read 203,851 times
Reputation: 22
I'm not sure why the two of you aren't concerned if interest rates increase..... it impacts everyone, whether or not you own a home.
 
Old 06-10-2007, 07:58 PM
 
Location: Missouri
109 posts, read 391,905 times
Reputation: 29
Default can we agree

Quote:
Originally Posted by rstate View Post
I'm not sure why the two of you aren't concerned if interest rates increase..... it impacts everyone, whether or not you own a home.
Rstate,

You can certainly say everything effecting money be it lending rate, savings rate, bond rate,...etc, will have it's effect. Can we at least agree that someone paying cash for real estate is not as worried about real estate interest rate?

Last edited by Hondax; 06-10-2007 at 08:00 PM.. Reason: grammar change
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