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I'm curious to know the where the origins of America's obsession with owning houses comes from (you know, the American dream: big house, fancy cars, etc.). I do not see the appeal of being a slave to a bank for 30 years. I see people with mortgages claim that they own their homes, but they don't own the house (the bank technically does). Let's see what happens when they miss 2 mortgage payments. They no longer own the house anymore. I would not be surprised if the American dream was manufactured by big banks and the automobile industry.
Then there's the group of people who see housing as a great investment, where the property value always goes up. Based on the historical data, it's simply not true. Property values just keep pace with inflation. There are just people out there who should NOT have gotten themselves into a mortgage (e.g., beyond their budget, unstable job, etc.).
So they don't have to live under the rule of the landlord. ?
What I find more perplexing, is the perspective of some, that owning a three bedroom house in a gated community is a right, and not a hard-won privilege.
every human begins dream is having their own house and staying in a rented house is not at all preferred and it shows the economic stability of every individual
What I find more perplexing, is the perspective of some, that owning a three bedroom house in a gated community is a right, and not a hard-won privilege.
I've never heard anyone state an opinion that everyone has a right to live in a three bedroom house in a gated community.
I've never heard anyone state an opinion that everyone has a right to live in a three bedroom house in a gated community.
No, not here. But you would...or perhaps not...be surprised how often people claim everyone has a right to own what others earn through hard work and planning.
No, not here. But you would...or perhaps not...be surprised how often people claim everyone has a right to own what others earn through hard work and planning.
I think you made up that stuff about a "right to a three-bedroom house in a gated community." I don't think anyone said that ever, unless it was because they already did have the money for it and believed that their money conferred the right upon them (which is basically true).
Funny how one person claims that "all" of some labeled group of people are doing something. My sister falls into that group....poor girl. But she's the exact opposite. She has worked for the same company for well over 10 years and bought a townhouse for herself a few years ago. She was tired of renting and having nothing to show for it. Rent where she lives is actually more than a mortgage on a decent house. Her monthly payments have dropped considerably even with her monthly HOA dues.
She doesn't pay less though. She continues to pay what she paid in rent. It's money she doesn't really miss and it's paying down her 15 year mortgage that much faster. Many people don't have 30 year mortgages and many who do pay more than the minimum so it's paid off faster.
I have several friends in the military and they did well buying and selling every couple of years.
One family in the Navy bought and sold 5 homes in 20 years and made money on each and even the one that was just a little above even after deduction brokerage fees still came way out ahead compare to 3 years of renting.
This family started in Florida and then to Washington followed by California... Northern and then Southern and then to Washington DC...
When it was all said and done they retired to California and did find themselves underwater once they put down roots... they love their home and location and it has recovered all and then some since they bought in 2006
Could have been they were just lucky and hit the sweet spots around the country...
That's an awful lot of luck! To happen once it might be luck, but 5 times? Doubtful.
You can pick up 10-20% raises by switching jobs. Would you suggest I wait patiently for 10-15 years for a promotion, picking up 0-3% raises a year or take control of my own career path? All of this is done at the mercy of my employer as well.
Consider this.. my company (like most companies now), fired the coworker I replaced because he had been there 12 years and was still mediocre. They saw no reason to pay him $80,000 / year (his salary crept up that high) when they could pay a young professional (I'm 24) roughly half that and get more productivity. Companies are for more concerned with cheap production than "loyalty" and "stability."
This completely depends on the industry one is in. My husband worked for the same company for 16 years went he left. He actually took a pay decrease, but doesn't work 70+ hours a week and travel is min.
Both companies he's worked for gave raises higher than 3%. The company he is with now, doesn't hire anyone without at least 5 years experience and your college degree is meaningless and doesn't count in the experience column. They also do NOT advertise open positions. Every single person was hired because of someone they knew at the company. Employee turn over is wicked low. In the last year and a half, only 1 person has left. So not all companies are looking for cheap production. You get what you pay for with that logic!
Quote:
Originally Posted by Auntie77
What I find more perplexing, is the perspective of some, that owning a three bedroom house in a gated community is a right, and not a hard-won privilege.
You couldn't give me ANY house in a gated community! A cardboard box is much more appealing. And I have been homeless so I know what I'm talking about.
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