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Old 12-13-2011, 05:21 PM
 
2,311 posts, read 3,493,973 times
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Quote:
Originally Posted by Texas User View Post
Quality of life is good if you have the money, it is that simple.
Credit and debt while remaining oblivious to your financial situation also works for a lot of others ... I mean, after-all, when you rent your whole life saving pennies a year and get laid off ... and have no money in the bank, it is wall street's fault right .. Surely 'just getting by' due to wanting to live in an ridiculously priced place and bragging about how your proximity to some restaurants and brunch spots makes you cool had nothing to do w/ it.
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Old 12-13-2011, 05:30 PM
 
1,027 posts, read 1,941,883 times
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Quote:
Originally Posted by yeahthatguy View Post
Credit and debt while remaining oblivious to your financial situation also works for a lot of others ... I mean, after-all, when you rent your whole life saving pennies a year and get laid off ... and have no money in the bank, it is wall street's fault right .. Surely 'just getting by' due to wanting to live in an ridiculously priced place and bragging about how your proximity to some restaurants and brunch spots makes you cool had nothing to do w/ it.
But this very system of exploitation is a part of what financial mafia and the wealthy elite have planned for this country. So it IS Wall street's fault, because Wall street is 100% integrated with the ruling elite that controls the current system. When a renter ends up laid off and broke, eventually (or homeowner ends up foreclosed) it is the SAME group that benefited. Credit and debt.. wall street does NOT benefit from this, of course.
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Old 12-13-2011, 05:44 PM
 
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The place where many engineers live in rental rooms.... something is wrong with this picture. People who went through grueling education for supposedly profitable profession that at least allowed entry into middle-class... to end up being a room renter for many years. This just doesn't compute, like a lot of other things about quality of life here.
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Old 12-13-2011, 06:05 PM
 
10,920 posts, read 6,874,748 times
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Originally Posted by alexxiz View Post
The place where many engineers live in rental rooms.... something is wrong with this picture. People who went through grueling education for supposedly profitable profession that at least allowed entry into middle-class... to end up being a room renter for many years. This just doesn't compute, like a lot of other things about quality of life here.
The definition of middle-class needing to own a home isn't true here. Most people are completely fine renting their entire lives and are certainly (by all other definitions of the word) middle-class. I personally have very mixed feelings about it having grown up in a place where most people could afford to buy a house. I have good memories of this childhood. However, I now live in a place where I'll probably always be a renter. I don't think that I'd ever leave because of this reason, but I can certainly see why others would be pretty turned off by this notion. Outside of the fact that I rent and don't (and probably never will) own, the rest of my lifestyle can be very middle-(or even upper-)class.
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Old 12-13-2011, 06:27 PM
 
12,671 posts, read 23,746,244 times
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Quote:
Originally Posted by yeahthatguy View Post
Credit and debt while remaining oblivious to your financial situation also works for a lot of others ... I mean, after-all, when you rent your whole life saving pennies a year and get laid off ... and have no money in the bank, it is wall street's fault right .. Surely 'just getting by' due to wanting to live in an ridiculously priced place and bragging about how your proximity to some restaurants and brunch spots makes you cool had nothing to do w/ it.
Being in debt is not QOL.
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Old 12-13-2011, 06:29 PM
 
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Your primary home is not an investment. Infact you can come out ahead renting all of your life and investing elsewhere like the stock market. There are way more people better off renting then owning a home.
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Old 12-13-2011, 07:05 PM
 
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Originally Posted by HockeyMac18 View Post
The definition of middle-class needing to own a home isn't true here. Most people are completely fine renting their entire lives and are certainly (by all other definitions of the word) middle-class. I personally have very mixed feelings about it having grown up in a place where most people could afford to buy a house. I have good memories of this childhood. However, I now live in a place where I'll probably always be a renter. I don't think that I'd ever leave because of this reason, but I can certainly see why others would be pretty turned off by this notion. Outside of the fact that I rent and don't (and probably never will) own, the rest of my lifestyle can be very middle-(or even upper-)class.
Renting a large condo or separate house is very different from renting a room... while a person renting separate housing can still pass as middle-class, certainly not the room-renter... If someone has to pay the rent in Bay area I still see it as outright loss because these money go directly down the drain rather than going into own property, there's no way around it. Investment money are the investment money, and the rent money are the same investment money (could be put into real property) thrown down the drain.
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Old 12-13-2011, 07:32 PM
 
2,311 posts, read 3,493,973 times
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Quote:
Originally Posted by alexxiz View Post
But this very system of exploitation is a part of what financial mafia and the wealthy elite have planned for this country. So it IS Wall street's fault, because Wall street is 100% integrated with the ruling elite that controls the current system. When a renter ends up laid off and broke, eventually (or homeowner ends up foreclosed) it is the SAME group that benefited. Credit and debt.. wall street does NOT benefit from this, of course.
As a middle class person who heavily participates in markets, I whole-fully disagree. Further, you'd be surprised at the number of Joe-averages that own the dominant share of real-estate in rental California... They are every day exploiters that you bump into on a daily basis.

Last edited by yeahthatguy; 12-13-2011 at 08:18 PM..
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Old 12-13-2011, 07:42 PM
 
1,027 posts, read 1,941,883 times
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Quote:
Originally Posted by yeahthatguy View Post
As a middle class person who heavily participates in markets, I whole-fully disagree. Further, you'd be surprised at the number of Joe-averages that own the dominant share of real-estate in rental California... They are every day exploiters that you bump into everyday.
Yes, all kinds of people own real estate in CA. The outright wealthy, the investors of all calibers, the people who inherited homes from parents, etc. (like I said--investor-owned single family housing must be banned!) They often rent out their properties and live somewhere else or rent rooms in their houses. I'm not talking about all individuals as exploiters, but rather about how the whole system works, barring people from home ownership, while jobs are allowed to be concentrated in the area where people are automatically barred, unless they're some dual-income high earners. There's profound unfairness and injustice about this system. There're plenty of areas with RE that is still relatively cheap, however the government does not make any steps--for the ridiculous sake of "free market"?--("free" to rob citizens)--to ensure that jobs are dispersed and people can own homes. Entire system is flawed... Aside from high land and over-inflated building prices, here're extreme prohibitions exist on mobile homes and as extreme county regulations and fees preventing, by all means, people from owning houses anywhere near where the jobs are. The meaning of land ownership is essentially nullified by county regulations. The "haves" benefit from the existing system--the entire establishment interwined with Wall street people.

The companies and CEOs are making profits... how about a law that the salaries must match real estate prices in the area? Not just minimum wage laws--the law that simply requires to correllate salaries with the calculated cost of living and figure real estate prices in. But politicians are rather busy handing out H-1s or shipping jobs overseas, and destroying US educational system (just look at engineering and science, it's being systematically destroyed, except in some high-priced private schools and few top public schools, not to mention the financial hardship required to acquire said education). Socialism? Yes, wake up half-socialist China is stepping on your tale already

Last edited by alexxiz; 12-13-2011 at 07:57 PM..
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Old 12-13-2011, 08:17 PM
 
2,311 posts, read 3,493,973 times
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Quote:
Originally Posted by Texas User View Post
Your primary home is not an investment. Infact you can come out ahead renting all of your life and investing elsewhere like the stock market. There are way more people better off renting then owning a home.
This theory falls apart in high rent areas.. Renting a 3bdrm 2.5 for a family will run you about $3-4k a month here.. x12 months = $36-48k .. x 30 years = 1.1 -1.4 milllion.. You are hardly ahead of anything.


For a single person it is even more ugly as your rent would run about $2k a month.. A home is a good asset to build equity in as one approaches middle age and starts a family. You are hardly ahead of anything when you are still renting at this stage in life... Maybe ahead in terms of local relativity but that's the whole point.. you aren't getting ahead locally .... because the place you're in doesn't allow you to.

Whatever, if people think differently, that's a good thing. Stay here and live and love your life.. It will keep many other places cheap .. Make up whatever reasoning you want.. Meh'
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