October 2019 15k SPAM Thread

[leggo PE]

Good spammin' this morning, spammers!

EDIT: Topsies!!  :bananalama:

 

[Orchid PE]

I'd much rather have an investment that outpaces inflation

In the past 5 years housing prices have outpaced inflation. 

 

[JayKay PE]

Also, I'm not sure about equating rent to a mortgage. Though the price might be the same, you can at least sell the house to get money back (in most cases).

A big thing with home ownership is longevity.  If I knew I was staying at a place maybe for a minimum of 6-years, I'd be more inclined to purchase, but since my job has taken me every where, I haven't stayed in one location for more than 3-years total before moving?  I actually like using online calculators that do the up-front, you'd need this much of a down-payment-you're already in the hole, calculators.  Much more realistic since a down payment is the big hurdle for me.

@ Everyone Sorry for making the thread adult-y again!  

 

[JayKay PE]

In the past 5 years housing prices have outpaced inflation. 

Yeah, if you're able to have purchased it before then/had the down payment.  And the market has fast outpaced inflation as well.

 

[Orchid PE]

If I knew I was staying at a place maybe for a minimum of 6-years, I'd be more inclined to purchase, but since my job has taken me every where, I haven't stayed in one location for more than 3-years total before moving?  I actually like using online calculators that do the up-front, you'd need this much of a down-payment-you're already in the hole, calculators.  Much more realistic since a down payment is the big hurdl

That's a wise decision. Though, you don't have to have a down payment.  

 

[Orchid PE]

Yeah, if you're able to have purchased it before then/had the down payment.  And the market has fast outpaced inflation as well.

Hopefully it stays that way . I don't even mind if it slows down, just as long as it doesn't go the other way .

 

[JayKay PE]

Hopefully it stays that way . I don't even mind if it slows down, just as long as it doesn't go the other way .

MMMMMMMMMM.  Not going to comment on the semi-housing bubble and the lack of inventory slowing leading to another lender/housing collapse, at least in HCOL areas.

 

[JayKay PE]

That's a wise decision. Though, you don't have to have a down payment.  

True.  I was thinking about looking more into first-time home buyer stuff, but I don't want to deal with PMI and I'd rather reaaaally, really, like some place before I put roots down.  Again, it's the whole 'single income' thing that is kinda killing me.

 

[Orchid PE]

MMMMMMMMMM.  Not going to comment on the semi-housing bubble and the lack of inventory slowing leading to another lender/housing collapse, at least in HCOL areas.

https://www.thebalance.com/is-the-real-estate-market-going-to-crash-4153139

 

[Will.I.Am PE]

My thoughts on the last couple pages:

By most accounts I'm right in the middle of the millennial generation.

I've also dialed and hung up a phone. My parents even had a rotary phone when I was a kid.

I used floppy disks all the time in elementary and middle school. (And played Oregon Trail.)

Owning a house is nice, but I can currently afford neither the down payment not the higher monthly payment that would come from not have l having a down payment... And OMGoodness, the property taxes in Ohio on a house that's not in the hood is like a third of what I'm currently paying in rent.

 

[RBHeadge PE]

back to work spam

 

[txjennah PE]

I just bought my first house at 35, and only because we live in an area where it was reasonable to.  There was no way we could have bought a house in Austin. The rental house we were living in was early 1980s, not updated, cute but nothing special, small...but already would have sold at ~$300K.  

 

[Orchid PE]

True.  I was thinking about looking more into first-time home buyer stuff, but I don't want to deal with PMI and I'd rather reaaaally, really, like some place before I put roots down.  Again, it's the whole 'single income' thing that is kinda killing me.

My thoughts on the last couple pages:

By most accounts I'm right in the middle of the millennial generation.

I've also dialed and hung up a phone. My parents even had a rotary phone when I was a kid.

I used floppy disks all the time in elementary and middle school. (And played Oregon Trail.)

Owning a house is nice, but I can currently afford neither the down payment not the higher monthly payment that would come from not have l having a down payment... And OMGoodness, the property taxes on Ohio on a house that's not in the hood is like a third of what I'm currently paying in rent.

Thoughts on why I switched from renting to owning:

• Owning is cheaper than renting.
  
• Rent includes: owner's mortgage + property maintenance fees + padding for repairs. Any smart landlord will collect money in rent to set aside for repairs.
  
• Mortgage includes: mortgage.
  
• A down payment is not required.
  
• Owning is cheaper than renting.
  
• There really aren't many "repairs" required for owning a home, unless someone buys a sh*thole.
  
• Owning is cheaper than renting.
  
• Epstein didn't kill himself.
  

 

[Orchid PE]

Thoughts on why I switched from renting to owning:

• Owning is cheaper than renting.
  
• Rent includes: owner's mortgage + property maintenance fees + padding for repairs. Any smart landlord will collect money in rent to set aside for repairs.
  
• Mortgage includes: mortgage.
  
• A down payment is not required.
  
• Owning is cheaper than renting.
  
• There really aren't many "repairs" required for owning a home, unless someone buys a sh*thole.
  
• Owning is cheaper than renting.
  
• Epstein didn't kill himself.
  

The 3/2 built 2014 I was renting cost me $1,150/mo. When I bought my first house, which was 400 sqft larger than my rental, and was a 4/2 built 2004, my mortgage was $1,000.

 

[leggo PE]

Oh man, housing costs... Don't even get me started.

But I live in a place I love, so i have rationed myself into being comfortable paying the price! And I do agree, heck, for renting around these parts, two incomes are MUCH better than one.

Also, SPAM!

 

[JayKay PE]

https://www.thebalance.com/is-the-real-estate-market-going-to-crash-4153139

Note, it specifically calls out the area I came from (New York's Long Island) as the potential location of a crash due to rising water levels/storms/hurricanes.  I've been born and raised in the LI/NYC real estate market, so it's really hard for me to understand why someone would sell a home under at least $425 (unless it's in CI or a total shit show shack, but I saw a shack go for $750k near Dune Road, so, again, real estate is confusing to me and was never seen as affordable unless you got into it 10+ years ago).

 

[Orchid PE]

Annnnnd, with owning I am paying down the principle. So if I sell I will get some of my money back. When renting, I would only be able to get, at most, deposits back.

So owning a home for 30 years: You'll have an investment.
Renting for 30 years: You'll have rented for 30 years.

Home ownership is definitely a long term investment, and those are the best type of investments.

 

[Orchid PE]

Note, it specifically calls out the area I came from (New York's Long Island) as the potential cause of a crash due to rising water levels/storms/hurricanes.  I've been born and raised in the LI/NYC real estate market, so it's really hard for me to understand why someone would sell a home under at least $425 (unless it's in CI or a total shit show shack, but I saw a shack go for $750k near Dune Road, so, again, real estate is confusing to me and was never seen as affordable unless you got into it 10+ years ago).

Where I came from in FL, the average home when I bought was like $150k. And they were good homes. Now those home are like $200-225k. A nice fancy home could be bought for $300k. Heck, my house here in TN is 3x as nice as the one I had in FL, but I bought for as much as I sold the one in FL.

 

[Orchid PE]

We also have a lack of mortgage backed securities right now, which was a hugh (yuuugh) factor in the recession.

 

[ChebyshevII PE PMP]

Housing prices on the east side of WA state can be pretty reasonable. We bought our house for 230k in 2015, when the market was booming. Right after we locked in our interest rate, the rates skyrocketed and so did the home prices. I’m pretty sure I have at least 50-100k equity already just because of that.