Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-27-2007, 03:46 PM
 
522 posts, read 1,794,114 times
Reputation: 151

Advertisements

Agreed. Buying is not ALWAYS better than renting. Everyone always says "you're throwing your money away." No, you're not. You are exchanging it for a place to live. Did you throw your money away when you bought a car because you won't be able to sell it for the same price at which you bought it 5 years down the road? Exchanging money for a place to live is not silly or stupid and doesn't make the people who do it idiots.

Still, my original post had absolutely nothing to do with renting or buying. My example was that I see a lot of young people that are currently renting for, say $800/mo, and when they go to buy all of a sudden think they can afford a $3,000/mo mortgage. If you have some cash on hand, it will trickle away slowly, sure. But my advice was to avoid financing something that makes your monthly expenses greater than your monthly income, regardless of increases in value and perceived "equity" in what you are financing.
Reply With Quote Quick reply to this message

 
Old 08-11-2013, 11:25 AM
 
1 posts, read 2,454 times
Reputation: 10
i owned a home and with the economy did not come out ahead but now I rent and I feel that when one takes out a 30 year mortgage they never own the home anyway so I definitely are willing to take the good with the bad about renting. I love the home I am renting and I am happy because the landlord right now is frm Europe and is an investor and if after my five years which is almost up I will rent again.. For me change is like an adventure.. I go with the flow
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top