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I think you owe CD an apology for this misinformatuion you provided.
At least stop being a baby and apologize to the poster you quoted.
That's a stretch in terms of misinformation. Replace the word declining with "below average" and it's 100% spot on.
You're trying really hard to paint me as a bad guy, Scott, but the truth is, you told people that "now is the time to buy" ...and those people would have lost a significant amount of equity based on your advice at the time.
I leave the rest to make judgement on who is the malicious clown.
. . . with the way housing prices are still jacked up here and crazy taxes . . . property and school taxes, which go up every year . . . ALL of my utilities are included (including electric), I do not pay any property or school taxes, and I pay no interest on my rent like I would on a mortgage. At the end of the month I still have enough money left over to save a little and go out . . . (You do not know how many times some ppl I talk to say you are throwing your money away renting).
What does everyone else think?
It is going to take a while to make a profit with that tax. For a short term senario, I would NOT buy a house THERE. You only make a profit after you sell the house. It's like an investment. You could just put some of your extra spending money into an interest-earning savings account or invest it.
Buying vs renting is one of those equations where you have to figure out all of the factors (as closely as you can estimate) and then consider how many years you'll be living there (again, estimate).
For the first X years, it will be cheaper to rent. You have no downpayment, no property taxes, mello roos, or HOA dues, and you have no home improvement expenses. If you plot the years/expense on a graph, you will see that after X number of years, the lines will cross and owning the home will become more lucrative (after profit from sales).
The main factors are: Rent: monthly rent + increases (It WILL go up & utilities may not always be included.)
Own: downpayment, monthly mortgage, property taxes & any dues, home improvement expenses (landscaping, appliances, repairs, etc.), & utilities-- MINUS tax savings and PROFIT made upon sale.
There are other factors such as commuting distance, etc. but these are enough to get a general picture.
It is going to take a while to make a profit with that tax. For a short term senario, I would NOT buy a house THERE. You only make a profit after you sell the house. It's like an investment. You could just put some of your extra spending money into an interest-earning savings account or invest it.
Buying vs renting is one of those equations where you have to figure out all of the factors (as closely as you can estimate) and then consider how many years you'll be living there (again, estimate).
For the first X years, it will be cheaper to rent. You have no downpayment, no property taxes, mello roos, or HOA dues, and you have no home improvement expenses. If you plot the years/expense on a graph, you will see that after X number of years, the lines will cross and owning the home will become more lucrative (after profit from sales).
The main factors are: Rent: monthly rent + increases (It WILL go up & utilities may not always be included.)
Own: downpayment, monthly mortgage, property taxes & any dues, home improvement expenses (landscaping, appliances, repairs, etc.), & utilities--MINUS tax savings and PROFIT made upon sale.
This is a calculator that helps you in this process. There used to be an even more detailed one on another site that I can't find. That one was great except for one thing..you couldn't put in a negative number for the "appreciation" field, ie depreciation..so it was a pre-bubble burst calculator.
That's a stretch in terms of misinformation. Replace the word declining with "below average" and it's 100% spot on.
You're trying really hard to paint me as a bad guy, Scott, but the truth is, you told people that "now is the time to buy" ...and those people would have lost a significant amount of equity based on your advice at the time.
I leave the rest to make judgement on who is the malicious clown.
Smart people know you don't buy a house for equity baby. Maybe this is why you STILL don't have a house?
Prior to the bubble it took on average 14 years to build 80/20 equity. That's a fact baby.
This is a calculator that helps you in this process. There used to be an even more detailed one on another site that I can't find. That one was great except for one thing..you couldn't put in a negative number for the "appreciation" field, ie depreciation..so it was a pre-bubble burst calculator.
must obey link
must obey link
must obey link
must obey link
must obey link
I am a robot
must obey link
must obey link
Sorry, no. I'm using the out of date link dman provided. You know, the one he uses to judge everything about everything.
I don't use worthless stats to form an opinion. I use my super intelligent brain.
Even no necked thugs can usually figure out how to maneuver through that website .....it isn't just 2001 'toopid.
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It's a Question of Time.
For a short term senario, I would NOT buy a house THERE. You only make a profit after you sell the house. 
It's like an investment. You could just put some of your extra spending money into an interest-earning savings account or invest it. 
