[BBMW]

Um, those are the people that are buying now (as opposed to during the bubble.)

Originally Posted by TheGreatCurve

Why wouldn't you want to live next door to smart, educated people who were smart enough not to buy a house during the bubble?

[TheGreatCurve]

Originally Posted by BBMW

Um, those are the people that are buying now (as opposed to during the bubble.)

So what you're saying is that renters are the same kinds of people as homeowners, right?

[von949]

Originally Posted by TheGreatCurve

So what you're saying is that renters are the same kinds of people as homeowners, right?

Of course renters and owners are the same if they both are from similar back grounds.

The difference comes in when how one thinks about the place they live in. One thinks long term the other thinks short term. Why would a renter upgrade their home?

My home "to do" list is never ending because of what me and my wife think looks nice for the house to make it visually enjoyable or more comfortable(maybe even add to the investment). None of the things on the list is a need. Just a bunch of wants. If we were renters that list would be non existent. One group is not better than the other. Its just that the relationship to the house makes the two groups different.

My neighbor that rents down the street just has to worry about taking out the trash and keeping the house clean. My wife is home sending me samples of different style crown molding, base boards and back yard landscape ideas. 80% of it which I will be doing myself.

...And the difference goes beyond just the house, it should reach out to the neighborhood as well.

[Jasmine658]

Looks like post from a year ago, and OP no longer reading. But I will say that I rented a total of 5 different apartments in NYC, none of them were legal as was more common than not. With so many co-op restrictions, owners were stuck. I was told for one place, if was asked, I am the niece staying there and asked to always give each doorman $100 each Christmas (guess hush money), one place had to pay all cash each month, and the list goes on. Availabilty for rentals was so scarce, this was only choice at time.

So solution is just rent out to someone who has good references, good credit, tell them do not get lease though and just explain why. Even I had to do that with a screwed-up fractional ownership condo my husband had purchased with another guy before we had gotten married, to lease out our designated part of condo that I learned had clause that we could never move and if did, could not rent out. This is just how people have to work around things, since not perfect world. Offer less than market a bit, and someone may rent this way.

[DanBev]

Originally Posted by von949

Depends if they purchased and sold at the right time. Hell, I got a civilian co-worker or two that purchased at the height of the bubble, refinanced, pulled out over $100K in cash, strategically walked away from their home, still has the cash they pulled out. At least thats what they brag about...

Not a responsible way to handle your finances but they are definitely not hurting.

When I lived in Denver a fellow employee had home 90 percent paid for and summer cabin in the hills.He had that bright idea,transferred cabin to mother and got equity loan,then stripped home and walked.when they got thru with him,he lost everything,including cabin and went bankrupt declaring chapter 7.Had to go back to apartment.